ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 01
ABOUT THE REPORT
This report represents the fourth Environmental, Social and Governance (“ESG”) report of Chongqing Brewery Co., Ltd. (the “Company”). Its primary purpose is to present our ESG policies, management practices, and performance to
stakeholders, providing a more comprehensive understanding of our ESG efforts.
Time Span References Used in the Report Report Approval and Accessibility
The report covers the period from January 1, 2025 to December For the convenience of expression and reading, “Chongqing Brewery”, The Board of Directors approved this report on March 9, 2026. This
the continuity and comparability of ESG reports, certain data and Co., Ltd.”, while “the Group” refers to “Carlsberg A/S”. any minor discrepancies between the two versions, the Chinese version
information are backdated or forwarded to other significant years when shall prevail. The report is accessible as a pdf on the Shanghai Stock
appropriate. Exchange website (http://www.sse.com.cn) and on our official website
(https://www.carlsbergchina.com.cn).
Scope of Reporting Source of Data
The subject of this report is Chongqing Brewery Co., Ltd. (Stock Code: All information cited in this report is from the Company’s official
consistent with our annual report. presented in this report is provided by our employees and partners and
for the purpose of our ESG disclosure only, and not for commercial
purposes.
Basis of Preparation
In preparing this report, we referred to Guidelines No. 14 of Shanghai
Disclaimer
Stock Exchange for Self-Regulation of Listed Companies—Sustainability
Report (Trial) , GRI Sustainability Reporting Standards (GRI standards),
IFRS Sustainability Disclosure Guidelines released by ISSB, ESG Please note that some parts of this report are forward-looking,
Evaluation Guidelines for Chinese Alcoholic Beverage Enterprises , and including plans, goals, etc., for future development. Such content is
ESG Disclosure Guidelines for Chinese Alcoholic Beverage Enterprises . based on the current expectations of the management, which may be
We also took into account the suggestions put forward in the United subject to uncertainties that could cause it to differ materially from
Nations Sustainable Development Goals (SDGs). actual results. The Company does not undertake the obligation to
update any forward-looking statements in this report.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 03
Key ESG Performance
ZERO Carbon Footprint ZERO Farming Footprint ZERO Packaging Waste ZERO Water Waste ZERO Irresponsible Drinking ZERO Accidents Culture
-78.47% 308,000 tons 93.1% -47.55% 3 kinds 15 consecutive years
Carbon emissions per hectoliter Recycled 308,000 tons of Bottle return rate increased by Average water consumption 3 kinds of warning labels calling The Company has held All-
decreased by 78.47% in 2025 spent grains in 2025, equivalent 4.3% compared to 2022. The in 2025 was 2.03 hl/hl, down for responsible drinking have been Staff Safety Day activities
compared with 2015 to the annual feed for 52,800 bottle return rate in Chongqing 47.55% compared to 2015 added to the packaging of alcohol for 15 consecutive years to
head of cattle or 369,600 head was 93.1% products continuously improve the
of sheep ability and safety awareness of
-1,940,421 tons 18,836,290 m 3
employees
Reduced 1,940,421 tons of carbon 30,000 tons Saved 18,836,290 m3 of water 4
emissions in total from 2015 to 100% Annual recycling of glass debris from 2015 to 2025, equivalent to Launched 4 low-alcohol products
more than 10 years
off the road for one year main ingredients, and localized equivalent to 120 million 330ml Eight breweries have had no
sourcing of 55% of hops and bottles, reducing carbon emissions 7 breweries 2 million lost-time accidents for more
Electric forklift truck use increased achieving our goal of “water beer product search and browse
to 100% in 2025 -2,300 tons usage efficiency of 2.0 hl/hl in the pages of mainstream platforms, 2 consecutive years
Lightweight packaging initiative Company” achieving over 2 million 27 of our breweries in China
reduced corrugated paper by impressions in total have had no lost-time accidents
Used 164,477.64 MWh of green glass by 1,900 tons, and aluminum 30,600 m 2
electricity in 2025, reducing 87,000 by 350 tons Chongqing, Jiangsu, and Yunnan multiple
tons of CO₂e emissions, equivalent water replenishment projects scenarios -94%
to planting 3.79 million trees have been 100% completed, with Compared to 2018, the number
Engaged across multiple
of lost-time accidents involving
scenarios including Chongqing
Approximately 490 million Cradle and 30,600 m2 of wetland area employees in supply chain,
Super League, Urumqi Marathon,
to Cradle eco-friendly ink labels restored and added, equivalent to sales and administration
and brewery open days, covering
were used in 2025 four standard football fields departments and contractors
full consumer touchpoints
decreased by 94%
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 04
Products and Services Diversity, Equity & Inclusion Responsible Procurement Community Engagement Compliance Management
passed ISO 9001 quality employees in management suppliers have passed Financial Assistant campaign and donated awareness training, including internal
management system positions increased to 34.4% ISO 14001 environmental a total grant of RMB 4.05 million, helping control framework risk training, and finance
certification and HACCP management system 1,929 underprivileged students to pursue and tax compliance training, with over 881
certification certification/ ISO 9001 their education hours of training sessions
quality management system
certification RMB 280,000 52 cases
Launched public welfare projects in Dali, Successfully cracked down on 52
Yunnan and Quannan, Jiangxi, supporting counterfeiting and infringement cases
employment and entrepreneurship training
and assistance for rural women, with a
total donation of RMB 280,000
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 05
PRESIDENT’S MESSAGE
In 2025, the external environment remains fraught with uncertainty. In 2026, Chongqing Brewery's ESG initiatives will enter a new
Facing macroeconomic challenges and industry adjustments, chapter.
Chongqing Brewery adhered to its “Accelerate SAIL” strategy,
maintaining a consumer-centric approach, continuously driving With Carlsberg Group launching its upgraded ESG program—
product and category innovation, and strengthening its operational “Brewing Tomorrow”, Chongqing Brewery will further focus on
foundations to sustain a steady development pace. This further key topics critical to corporate development and societal impact.
demonstrates that the Company's sustained investments in ESG Centered on four pillars—“Cutting Carbon”, “Protecting Nature”,
(Environmental, Social, and Corporate Governance) fields in recent “Inspiring Choice”, and “Empowering People”—the Company will
years have become a critical pillar for high-quality growth. further advance its responsible business conduct.
Over the past decade, ESG has taken root at Chongqing Brewery. While maintaining its 2040 target of achieving net-zero emissions
across the entire value chain, Chongqing Brewery has also set
Since 2016, guided by the ESG initiatives of the controlling and updated a series of milestone goals for 2032. These include
s h a re h o l d e r, Ca r l s b e rg G ro u p , Ch o n g q i n g B rewe r y h a s reducing operational carbon emissions by 90% compared to
systematically integrated ESG into its strategic planning and baseline years, ensuring 100% recyclable, compostable, or
operational management, addressing global topics such as climate reusable packaging, all global alcohol brands carrying e-labels,
change, water scarcity, and societal health and well-being. The and increasing the proportion of women in senior leadership roles
Company has continuously improved its governance system and to 42%.
advanced related practices.
Guided by the “Brewing Tomorrow” ESG program, Chongqing
This report is not only Chongqing Brewery’s 2025 ESG Report but Brewery will build on its existing practices, collaborate with
also a summary of its ESG efforts over the past decade. During stakeholders, and steadily advance its goals. This will further
this period, carbon emissions per hl of beer brewing decreased solidify the foundation for stable operations and sustainable
by 78.5% cumulatively, approximately equivalent to 713,000 cars development, continuously fulfilling its corporate mission of
off the road for one year. Water consumption dropped by 47.6%, “Brewing for a Better Today and Tomorrow”.
reaching 2.03 hl/hl. Six of the Company's breweries have been
recognized as National-Level Green Factories.
In MSCI’s ESG Ratings, Chongqing Brewery has received an AA
Lee Chee Kong
rating for two consecutive years, making it one of only two A-share
listed food and beverage companies to achieve this highest rating. President, Chongqing Brewery Co., Ltd.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 06
ABOUT US
COMPANY PROFILE
Based in China, Chongqing Brewery Co., Ltd. (SH.600132) is a International brands include Carlsberg, Tuborg, Kronenbourg 1664, are also committed to actively addressing global challenges such
subsidiary of Carlsberg Group, the third largest brewer in the world. Brooklyn, and Somersby. as inequality, climate change and water scarcity by implementing
Carlsberg Group, headquartered in Copenhagen, Denmark, was founded the Together Towards ZERO and Beyond (TTZAB) ESG program in
in 1847 and has over 180 beer brands that are sold in more than 150 Responding promptly to market changes, we are one of the fastest China. We are dedicated to achieving our ZERO Carbon Footprint,
markets worldwide. growing Chinese beer companies in recent years. In 2025, our revenue ZERO Water Waste, ZERO Farming Footprint, ZERO Packaging Waste,
and net profit attributable to shareholders of our parent company were ZERO Irresponsible Drinking, and ZERO Accidents Culture goals, while
The Company operates a production and supply network consisting RMB 14.72 billion and RMB 1.231 billion, respectively. adhering to the Group’s purpose of brewing for a better today and
of 27 breweries and a marketing and sales network spanning China’s tomorrow.
provinces and municipalities, with a product portfolio consisting of local China has become the Group’s largest market globally. In the Group’s
and international brands that meet the varied needs of consumers SAIL’27 strategy, “Keep Winning in China” is listed as one of the
across different consumption scenarios. Local brands include Wusu, strategic priorities. This priority demonstrates our ambition of being
Chong Qing, Shancheng, Xixia, DALI, WFSM, TIAN MU HU, and Jing-A. the most successful, professional and attractive brewer in China. We
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 07
HONORS IN 2025
ENTERPRISE HONORS
Shanghai Stock Exchange China Association for Public Companies China Association for Public Companies China Association for Public Companies
Best Practices for Boards of Directors of Listed
A-rating in 2024–2025 Information Disclosure Work Best Practices in Investor Relations Management 2025 Companies 2025 Best Practice of Annual Report Presentation 2025
China Association for Public Companies China National Radio (CNR) China Securities Journal China Securities Journal
Best Practice Cases for Internal Control of Listed President Lee Chee Kong awarded the CNR Network Financial President Lee Chee Kong awarded the
Golden Bull Best Investment Value Award
Companies in China 2025 Center’s 2025 “Golden Pinnacle” Excellent case Award Golden Bull Entrepreneur Innovation Award
China Fund Extel Corporate Governance Asia Securities Times
A-Share Value Demonstration Cases Management Teams
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 08
COMPANY HONORS
Ministry of Industry and Information
Technology of the People’s Republic of China MIIT
China National Food Industry Association China Alcoholic Drinks Association
(“MIIT”)
Wusu Beer was included in the list of the first
Top 500 Key Enterprises in China’s Food China Alcoholic Drinks Industry IP Protection
Chongqing Beer was included in the list of batch of China Famous Consumer Products
Industry 2025 Model Case 2025
the first batch of China Famous Consumer released by MIIT
Products released by MIIT
Chongqing Enterprises Federation (Entrepreneurs Chongqing Enterprises Federation (Entrepreneurs
Chongqing Municipal Commission of
China Alcoholic Drinks Association Association), and Chongqing Federation of Industrial Association), and Chongqing Federation of Industrial Commerce
Economics, under the guidance of Chongqing Economics, under the guidance of Chongqing
China’s Alcoholic Beverage Enterprise ESG Chongqing Brewery selected for the list
Economy and Informatization Commission Economy and Informatization Commission
List 2024 of the Eighth Batch of Chongqing Time-
Chongqing Top 100 Enterprises Chongqing Top 100 Manufacturers
Honored Brands
Guangdong Association of Enterprises with Department of Industry and Information
Federation of Industry and Commerce of Federation of Industry and Commerce of
Foreign Investment Technology of Ningxia Hui Autonomous Region
Ningxia Hui Autonomous Region Ningxia Hui Autonomous Region
List of Best ESG Practices for Guangdong Xixia Beer was included in the list of the first
Ningxia Top 100 Private Enterprises Ningxia Top 100 Private Manufacturers
Foreign-Funded Enterprises 2025 batch of Ningxia's premium brands
Changzhou Municipal Committee of the
Communist Party of China, Changzhou Municipal
Yunnan Provincial Enterprise Federation, Yunnan Provincial Enterprise Federation,
People's Government Hurun China Rich List
Yunnan Provincial Federation of Entrepreneurs Yunnan Provincial Entrepreneur Association
Carlsberg Tianmuhu Brewery (Jiangsu) Co., Ltd. Hurun China Food Industry Top 100
Yunnan Top 100 Enterprises 2025 Yunnan Top 100 Manufacturers 2025
was included in Co., Ltd. the list of commendation
for Changzhou May 1st Labor Awards
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 09
ESG HONORS ● Tianmuhu Brewery was awarded the title of “Jiangsu Provincial Green
Plants”, and “Jiangsu Provincial Advanced Smart Plants 2025” by the
Industry and Information Technology Department of Jiangsu
MIIT China Association for Public
Carlsberg (China) Breweries and Trading Company ● The water-saving project launched by Huizhou Brewery was selected
MSCI Companies
Limited, Carlsberg Tianmuhu Brewery (Jiangsu) Co., Ltd.,
as one of the “Top 10 Typical Water-Saving Cases in Guangdong
MSCI ESG AA-rating Xinjiang Wusu Brewery (Aksu) Co., Ltd., Xinjiang Wusu Best Practice Cases for
Brewery (Korla) Co., Ltd., and Xinjiang Wusu Brewery Province 2025” by the Water Resources Department of Guangdong
(Wusu) Co., Ltd. won the title of “National Green Plants” Sustainable Development
Province
● Ningxia Brewery was awarded the title of the first batch of “Ningxia
Hui Autonomous Region Advanced Smart Plants 2025” by the
Department of Industry and Information Technology of Ningxia Hui
Autonomous Region
● Yining Brewery was awarded the title of “Xinjiang Uygur Autonomous
Region Water-Saving Enterprises in the Industrial Sector 2025” by
the Industry and Information Technology Department of the Xinjiang
Uygur Autonomous Region
People.cn
Fortune China Guangzhou Daily ● Korla Brewery was awarded the titles of “Xinjiang Uygur Autonomous
People’s Corporate Social
Responsibility Cases 2025
“Xinjiang Uygur Autonomous Region Water-Saving Enterprises in the
Industrial Sector 2025” by the Industry and Information Technology
Department of the Xinjiang Uygur Autonomous Region
● Urumqi Brewery was awarded the title of “Waste-Free Enterprises”
in Urumqi City in the first batch selected by the Urumqi Ecological
Environment Bureau
● Korla Brewery was awarded the title of “Advanced Collective for Fire
Safety 2025” by the Korla Economic and Technological Development
Zone Management Committee
World Federation of Chinese ● Yining Brewery was honored with the “Ankang Cup” for the fourth
Southern Weekend Catering Industry consecutive year by the Yining Federation of Trade Union
ESG Low-Carbon Practices 2025 2025 China Catering Industry ESG ● Yining Brewery was awarded the title of “Outstanding Resident
Friendly Case
Outstanding Case—Wusu Barbecue Enterprises” by Yining Bayandai Town People’s Government
● Niangxia Xixia Jianiang Brewery Co., Ltd. (hereinafter referred to as
“Xixia Jianiang”) was awarded the title of “Advanced Collective for
Innovative Construction of Helan County” by the Party Committee of
Helan Country, and the People’s Government of Helan County
● The Party Branch of Wusu Brewery was awarded the title of “Five-
Good Party Branches” in Tacheng Prefecture Party Building
Excellence Evaluation Campaign
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 10
EMPLOYER BRAND, CULTURE AND TALENT DEVELOPMENT HONORS
Moka, Beijing Institute for General Artificial Intelligence, HRflag
Shixiseng
The 8th China Human Resources Sirius Awards 2025—The Most Popular
The Most Attractive Employer of 2025
Employer among College Students, Best Employer Brand Award
Employer Branding Institute Employer Branding Institute
Zhilian Zhaopin
China Best Employer (Guangzhou) 2025
Innovative Recruitment Award Program Award
Top Graduate Employer Brands Belonging Awards
Talent Attraction & Retention
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 11
PRODUCT, BRAND AND MARKETING HONORS
China Alcoholic Drinks Association NIQ BASES iF Industrie Forum Design, Global Design
At the China International Beer Wusu White Beer won NIQ BASES Awards, Red Dot Design Award
Challenge 2025, 15 product categories of Breakthrough Innovation Awards 2025, Carlsberg Artist Edition for the Year of the
the Company won awards, including the making it the only alcoholic beverage to Snake won iF Design Award 2025, Global
prestigious “Four-Star Tianlu Award” receive the honor this year Design Awards, Red Dot Winner
JD.com Supermarket Alcohol Meituan Flash Wusu Brewery won the Gold Alcohol Industry
Business Division “Golden Spark Award”—the Award in Cross-Industry Joint
“Golden Bottle Award for
“Excellent Awards 2024” Highest Honor of the Year Marketing and the Gold Award in
Alcoholic Beverages”
Integrated Digital Media Project
Tmall
China Alcoholic Drinks Association China Advertising TOP Organizing Committee
WFSM’s rose sea salt flavor craft beer
Four products were awarded the 1664 won the Best Scenario Marketing Case
was awarded the Tmall Innovation
“Qingzhuo Award” Award at the 10th China Advertising TOP
Center Trendsetting Brand Award
● Tiger Roar Awards Organizing Committee Bronze Award in the 16th Tiger Roar Awards (2024-2025) ● thebeijinger JUICY BURGER CUP 2025 J ing-A Brewing Co. was ranked in the Top 8 of the Juicy Burger Cup
● Top Digital Innovation Marketing Award Organizing Committee Silver Award in the 2025 Phoenix Tree ● Forbes China Wusu Barbecue · Chengdu Open-Air Night Snack City was honored as “Top Innovation Brand
Awards in China’s Grand Consumption 2025” by Forbes China
● Brewers Association At the World Beer Awards 2025, 4 product categories were rated “Best in China” ● 30th Annual Catering Influence Carnival Wusu Barbecue was awarded “Top 100 Brands”
● Wind Direction Indicator Curator’s Recommended Ranking Jing-A Brewing Co. won the Best Bottle Label ● Chengdu Catering Industry Association Wusu Barbecue was recognized as one of the Top 50 of the 14th
Design Award Edition Chengdu Street Food Halls
● Beijing Cuisine Association, Beijing Business Today Top 100 Beijing Restaurants ● Hotpot Insight | BBQ Insight (Golden Cauldron Award): Wusu Barbecue Wins “Most Popular BBQ Brand in China 2025”
● Meituan & Meituan Takeout Must-Visit List Jing-A Brewing Co. was selected as a 2025 Featured ● AmapWusu Barbecue · Chengdu Open-Air Night Snack City was included in the 2025 Gaode Maps Street
Restaurant in Beijing Scan Ranking & Top Scorer List
● Canyin168 Wusu Barbecue · Chengdu Night Snack City won Canyin168 Golden Mang Award—Phenomenal
● Dianping Must-Play List Jing-A Brewing Co. was named a 2025 Featured Entertainment Destination
Brand Award of the Year
● The 11th Food & Beverage Innovation Conference At the 11th Food & Beverage Innovation Conference, Wusu
● GOGO ANNUAL AWARDS 2026 Jing-A Brewing Co. was awarded Annual Pioneer Craft Beer Brand Award Barbecue · Open-Air Night Snack City (No.1 flagship store) was awarded the “Best Benchmark Stores” among
China Catering Innovation Brand List
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 12
Note:Details of the "Together Towards ZERO and Beyond" ESG program are available on pages 9 to 11 of the 2024 ESG Report. In 2025, the Company continues to implement this program; therefore, the interim targets disclosed in this report remain anchored to the
consistency and comparability of disclosure.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 13
ESG GOVERNANCE
ESG Governance Structure
The Company has successfully integrated ESG governance into its daily operations. We have developed a three-tier ESG management structure comprising the President, TTZAB Target Owners, and ESG Owners. These three tiers
are responsible for the planning, coordinating and implementation of our ESG strategies and establishing the KPIs and targets, and tracking progress to facilitate the implementation of our ESG strategies and to achieve efficient ESG
management.
The Board members possess backgrounds in sustainable development, risk management, and auditing, and are equipped to provide effective oversight over the Company’s ESG practices, risk control, and information technology.
Certain ESG metrics have been incorporated into the executive annual performance evaluation system.
Board of Directors Reviewing the annual ESG report
Leading and overseeing the Company’s business, strategic direction and performance, performing corporate governance responsibilities,
President
and responsible for overall ESG performance
TTZAB Target Owners Responsible for the coordination and facilitation of implementation of TTZAB
Program
Coordinator
VP, Corporate Affairs VP, Supply Chain Director, Procurement Director, Procurement VP, Supply Chain VP, Marketing VP, Supply Chain
ESG Champion
ESG Information Disclosure Team: Responsible for the collection and statistics of ESG initiatives progress, and
ESG Owners: Responsible for the implementation of ESG initiatives
completing reporting and information disclosure
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 14
STAKEHOLDER ENGAGEMENT
We attach great importance to effective engagement with stakeholders. By building a diversified and stable communication mechanism, we maintain smooth, efficient and close communication and interaction with all stakeholders.
We are able to timely identify and actively take actions to respond to the expectations and requirements of internal and external stakeholders to continuously improve the transparency of corporate information disclosure and further
enhance the trust and support from all stakeholders.
Stakeholders
Employees Investors and Customers and Suppliers Media Outlets Government and Industry Associations Industry-university-
Shareholders Consumers Regulatory Agencies research Partners
● Questionnaire surveys ● Performance disclosure ● Consumer satisfaction ● Feedback channels for ● Regular and irregular ● Regular visits and special ● Joining industry ● Conduct programs and
● Online and in-person meetings survey suppliers media visits reports associations cooperation with industry-
activities ● Securities firm strategy ● Complaints hotline ● Regular communication ● Timely communication ● Participation in the ● Participation in university-research
meetings activities of the Company’s latest research and selection formulating industry partners
● Emails ● Channels at retail stores
● Domestic and overseas ● Audit and assessment situation activities organized by the standards
● Meetings with all ● Marketing activities
Engagement anti-roadshows ● Beer tasting for the media government ● Participation in industry
employees and within ● Information sharing
Channels ● ●
● Participation in the events
departments Visiting the breweries Visting the breweries
formulation and revision
● Scenario experience ● ESG workshops for the of policies and regulations
● New product tasting event media
● Interview with the
President
● Employee benefits ● Risk management ● Quality products ● Fair, open and just ● Company’s performance ● Compliant business ● Product quality ● Product development and
● Employee development ● Return on investment ● Diversified products procurement ● Sustainability operations ● Industry cooperation and innovation
and training (ROI) ● Supplier support performance ● Tax payments according development ● Talent training
Topics of ● Sophisticated customer
to law
Interest ● Employee rights and care ● Corporate governance service ● Company’s future ● Achieve win-win results
development strategy ● Driving local economic
● Employee health and ● Information disclosure ● Smooth communication
safety channels development
● Establish diverse ● Hold shareholder ● Promptly respond to ● Establish a complete ● Regularly communicate ● Compliance with all ● Membership of industry ● Cooperation with industry
employee engagement meetings consumer demands supplier management with the media applicable laws and associations and university research
channels ● Release of regular ● Carry out responsible system ● Regularly release updates regulations ● Participation in partners
● Protection of employees’ reports and interim marketing ● Implement responsible on the progress in ● Disclosure of information formulating industry
rights and interests announcements ● Implement initiatives procurement sustainable development on our contribution to standards
Our Responses ● Provision of staff training ● Participation in investor promoting responsible ● Carry out supplier training ● Hold beer tasting and ESG economic development ● Participation in industry
and development space roadshows and other drinking and communication workshops for the media ● Facilitation of the TTZAB association initiatives
● Caring for the physical activities activities program
and mental health of ● Participation in national
employees demonstration pilot
projects
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 15
DOUBLE MATERIALITY ASSESSMENT
The Company attaches great importance to the identification, evaluation and management of sustainable ESG Materiality Matrix in 2025
development topics. In 2025, based on the materiality matrix of past years, we comprehensively reviewed and
optimized the annual materiality matrix with reference to the latest ESG governance trends, corporate business
layout and development dynamics, mainstream ESG rating systems in capital markets, and peer best practices.
Product quality and innovation
Impact Materiality Assessment
Water stewardship
Business ethics
Through topic identification, stakeholder research, topic analysis and other steps, we build the materiality
matrix, and make key disclosures in the report, so as to respond to the concerns of all parties in a more Corporate governance
targeted manner, and disclose the progress of ESG work in a complete and accurate manner. Employee health
Sustainable packaging and safety
/ circular economy
Materiality to Stakeholders
Financial Materiality Assessment Customer service Data security and privacy protection Tackling climate change
Responsible marketing
Supply chain management
Based on the results of the financial materiality assessment conducted by the Carlsberg Group, we are focused
Talent and development
on the management of three major topics: “climate change”, “resource utilization and circular economy” and Energy management
“consumers and end users”, as detailed in the sections of “ZERO Carbon Footprint” and “ZERO Irresponsible Waste / pollutant management
Drinking”. Advocating responsible drinking
Sustainable agriculture
Diversity, equity & inclusion
High Moderate Low
Product quality and Data security and Sustainable agriculture Equal treatment of
Community contribution and impact
innovation privacy protection Advocating responsible SMEs
Equal treatment of SMEs
Water stewardship Supply chain drinking Scientific and
Scientific and technological ethics
Business ethics management Diversity, equity & technological ethics
Corporate governance Energy management inclusion
Employee health and Waste / pollutant Customer service
safety management Community contribution
Materiality to Chongqing Brewer
Sustainable packaging / Talent and development and impact
circular economy Responsible marketing
Tackling climate change Environmental topics Social topics Corporate governance topics
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 17
ZERO Carbon Footprint
Against the backdrop of intensifying global climate change and the REDUCING OUR PRODUCT CARBON FOOTPRINT
steady advancement of China’s “Dual Carbon” goals, the beer industry
is accelerating its transition towards a new stage of high-quality
development underpinned by low-carbon competitiveness. As a leading The Company regards carbon emissions management across the whole product value chain as a core task. Under the overall guidance of the Group,
player in the industry, the Company has positioned its climate change we conduct product carbon footprint assessments1 focusing on key stages: raw material planting and processing, beer production, packaging material
response and green transformation as long-term strategic priorities, use, transportation and distribution, and terminal cooling and storage, and develop and implement corresponding carbon reduction action plans.
continuously increasing resource investment and systematic governance
to promote collaborative emission reduction across the whole value
chain. We are firmly committed to the “ZERO Carbon Footprint” goal. Total Value Chain Carbon Emissions in 2025
By focusing on critical segments of the whole value chain, including
raw material planting, manufacturing, packaging, transportation and
distribution, and cooling and storage, we are systematically promoting
energy conservation and carbon reduction, optimizing the energy mix,
and improving operational efficiency, steadily progressing towards the
goal of achieving a net ZERO value chain by 2040.
OUR STRATEGY
Under the overall leadership of the President, climate change-related
initiatives are spearheaded by the Vice President of Supply Chain, who
oversees the implementation of day-to-day management practices.
Regular reporting, communication, review and assessment are
conducted on key priorities such as energy conservation and emissions
Value chain carbon
reduction, and product carbon footprint reduction, driving continuous % of total value Agriculture and Transportation and
Breweries Packaging Cooling emission intensity
improvement and optimization. chain emissions Processing distribution
(kgCO2e/hl)
OUR ACTION
The Company has conducted carbon footprint assessments across 16% 7% 57% 11% 9% 62.3
the whole value chain, covering planting, manufacturing, packaging,
transportation and distribution, and cooling and storage, and has
developed and implemented carbon reduction measures for each
segment. Meanwhile, we have integrated climate change risks into
our risk management system and advanced transformation plans and
World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD), and the Product Environmental Footprint (PEF) Guide (including rules for
supporting response measures to continuously enhance the Company’s beers) formulated by the European Commission and sectoral guidelines for greenhouse gas emissions in the beverage industry.
climate resilience.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 18
CUTTING CARBON FROM CROPS ELIMINATING BREWERY EMISSIONS
Greenhouse gas emissions from the planting and processing of raw Greenhouse gas emissions from breweries account for 7% of the total Focusing on key energy-consuming equipment and processes, the
materials account for 16% of the total value chain carbon emissions. value chain carbon emissions. To achieve the long-term goal of “100% Company has actively introduced new technologies and implemented
In pursuit of the ZERO Farming Footprint goal, we actively promote green electricity usage by 2030 and promoting carbon neutrality across targeted renovations, including boiler efficiency improvement,
collaboration with upstream suppliers to reduce carbon emissions, all breweries”, we have continued to help breweries establish energy reduced evaporation rate of boiling kettles, comprehensive heat
jointly advance sustainable agricultural practices and sustainable management systems. By 2025, Tianmuhu Brewery and Dali Brewery energy utilization, and heat pump applications. These measures have
raw material procurement, and strive to mitigate the potential both obtained ISO 50001 energy management system certification. In effectively lowered production heat consumption, enhanced energy
environmental impacts of business operations. Specific carbon addition, we have continuously improved energy efficiency and reduced efficiency, and driven coordinated carbon emissions reduction at the
reduction initiatives for the raw material planting and processing stage energy consumption and related carbon emissions through process production stage. At present, heat recovery systems for boiling kettles
are detailed in the “ZERO FARMING FOOTPRINT” chapter of this optimization, equipment upgrades, renewable energy adoption, and have been installed in all breweries in China, further improving heat
report. intelligent transformation, upholding the concept of green brewing. recovery and utilization efficiency.
Heat recovery projects implemented in breweries in 2025:
Meanwhile, multiple breweries, including Dali, Anhui, Dazhulin, and
Boke Brewery
Foshan, have launched comprehensive biogas heat utilization projects.
In 2025, the Company’s energy efficiency and carbon emissions
Installed the Company’s first heat pump system, recovering waste heat
reduction performance continued to improve. Heat consumption per hl
from the rear end of the pasteurizer for reuse. This reduces pasteurizer
of beer brewed dropped to 13.967 kWh, a decrease of approximately
steam consumption by up to 49%, saving an estimated 110,000 cubic
meters of natural gas and approximately RMB 200,000 in costs
annually.
reduction results.
Furthermore, we have continued to optimize the energy structure by
Shizhu Brewery expanding the supply of clean energy through photovoltaic installations
and increasing the proportion of renewable energy used. Currently,
Upgraded the thermal insulation of equipment in the bottle washers the Company has achieved 100% green electricity usage. In 2025,
and pasteurizers on packaging lines, effectively cutting packaging line total green electricity consumption reached 164,477.64 MWh, cutting
steam consumption. Heat savings are expected to reach 1.48 kWh/hl, 87,271.84 tons of carbon emissions, equivalent to planting 3.79 million
reducing annual steam costs by about RMB 320,000. trees or taking 32,100 cars off the road for one year.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 19
ZERO Carbon
Footprint
WUSU BREWERY ADDS THREE
NATIONAL-LEVEL “GREEN
FACTORIES”, FURTHER RECOGNIZED
FOR GREEN BREWING PRACTICES
On February 5, 2026, the Ministry of Industry and Information Technology released the
list of 2025 Green Factories and Green Industrial Parks. Xinjiang Wusu Brewery Co., Ltd.
(“Wusu Brewery”) won three national-level “Green Factories” certifications at one stroke,
namely Xinjiang Wusu Brewery (Aksu) Co., Ltd., Xinjiang Wusu Brewery (Korla) Co., Ltd.,
and Xinjiang Wusu Brewery (Wusu) Co., Ltd., demonstrating the Company’s systematic
achievements in green manufacturing and sustainable development.
Wusu Brewery integrates the concept of green brewing throughout its entire production
and operation process, effectively reducing carbon emissions through technological
transformation, energy optimization and resource recycling. At the Aksu Brewery,
technology upgrading, such as upgrades to the mashing system and low-nitrogen
combustion retrofits for the boilers, have continuously lowered energy consumption,
while 100% recovery of carbon dioxide generated during fermentation has eliminated
the need for external CO2 procurement, significantly reducing the brewery’s carbon
emissions intensity. Additionally, the brewery achieves 100% recovery of by-products
such as spent grain and waste yeast for resource utilization, alongside full recycling of
solid waste such as broken glass bottles to promote a circular economy model.
The Korla Brewery adopts lightweight glass bottles containing over 60% recycled
materials in packaging, paired with eco-friendly inks and PVC-free labels and caps to
maximize the reduction of environmental pollution caused by materials, aligning with
the goal of achieving 100% recyclable, renewable, and biodegradable packaging by
The Wusu Brewery has strengthened energy management through steam pipeline
upgrades, comprehensive energy-saving retrofits, high-efficiency lighting, and solar-
powered streetlights, reducing energy consumption. The energy consumption per unit of
product has reached the advanced level specified in the Norm of Energy Consumption
per Unit Production of Beer (GB 32047-2015) .
From 2015 to 2025, the three breweries (Aksu, Wusu, and Korla) achieved a 57%
reduction in thermal energy consumption per hl of beer brewing, cumulatively cutting
carbon emissions by approximately 190,000 tons. At present, Wusu Brewery has
achieved 100% green electricity use across all breweries. By advancing green brewing
and technological transformation in parallel, the Company has made positive progress
in improving energy efficiency and reducing environmental impact, realizing the
coordinated growth of environmental and operational benefits.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 20
YINCHUAN BREWERY DRIVES DUAL CONTROL OF ENERGY AND
Case
CARBON THROUGH INTELLIGENT TRANSFORMATION
green electricity utilization
Ningxia Yinchuan Brewery has continuously promoted systematic intelligent transformation
around two goals: “maintaining stable product flavor and enhancing green productivity”, driving
the transformation from traditional manufacturing to modernized production, and was successfully
In 2025, the total green electricity used reached
selected into the Ningxia “First Batch of Advanced Smart Plants in 2025”.
In the brewing process, the brewery introduced a beer membrane filter to achieve precise filtration of
yeast after beer maturation, effectively replacing the traditional diatomite filtration method without
generating any solid waste during operation. Meanwhile, relying on the central control system, it
avoiding equivalent to planting or taking
realizes digital centralized management and control over key processes from saccharification to
filtration, improving process stability and management efficiency. In the packaging process, filling
equipment, intelligent robotic arms and high-speed carton packaging machines work together to tons million cars
complete case packing and palletizing, boosting daily production capacity by 2% and reducing
of carbon emissions trees off the road for one year
energy consumption by 1.5%.
In addition, the brewery integrates energy conservation and consumption reduction into the entire
production and operation process. Through the condensed water waste heat recovery project and
Energy Consumption in 2025
boiling pot thermal energy recovery project, it recycles high-temperature flash steam generated
during beer saccharification and boiling, saving more than 100 tons of standard coal annually and
Indicators Unit 2025
significantly improving energy efficiency. Since 2015, the carbon dioxide emissions per hl of beer
brewed at Yinchuan Brewery have decreased by 64%, reflecting the comprehensive results of the Heat energy from natural gas MWh 319,940.27
coordinated promotion of intelligent transformation and green manufacturing.
Heat energy generated by biogas from sewage plants MWh 2,347.812
Heat from district heating facilities (with standard
MWh 85,178.48
heating systems
Total consumption of power MWh 164,477.64
Total thermal energy consumption4 MWh 407,653.79
Percentage of renewable electricity % 100
Direct energy consumption MWh 328,272.78
Indirect energy consumption MWh 243,671.42
Comprehensive energy consumption MWh 571,944.20
Comprehensive energy consumption intensity MWh/RMB 10,000 in revenue 0.39
Production line of Ningxia Yinchuan Brewery 3 The total consumption of power includes the power sold to third parties.
district heating facilities, and electricity used for heat pumps.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 21
MOVING TO LOWER-CARBON PACKAGING CUTTING IMPACTS FROM COOLING CUTTING DAILY OPERATING EMISSIONS
Packaging materials are responsible for 57% of the carbon footprint In the beer brewing process, carbon emissions from cooling and storage The Company continues to strengthen energy conservation and
of beer products, representing the largest source of carbon emissions account for approximately 9% of the product’s carbon footprint, emissions reduction efforts in operational activities, integrating low-
throughout the value chain. To reduce carbon emissions in the use representing the fourth largest source of carbon emissions across carbon principles into daily management practices and employee
of packaging materials, the Company is actively advancing its ZERO the value chain. The Company continues to implement the Group’s behaviors. In terms of employee commuting, the Company prioritizes
Packaging Waste initiative, and collaborating with suppliers to carry principle that “all newly purchased refrigerators must utilize LED collaboration with transportation service providers that have lower
out carbon reduction actions in the use of packaging materials. For lighting and environmentally friendly refrigerants”. Since 2021, we have carbon emissions, continuously enhancing the greenness of commuting
more information, please refer to the “ZERO Packaging Waste” section rolled out an energy-saving refrigerator initiative, gradually replacing logistics. In 2025, the Company operated 10 new-energy buses,
of this Report. existing equipment with new units that use non-fluorinated refrigerants. effectively reducing carbon emissions by approximately 1,036.13 tons.
By adopting eco-friendly refrigerants and high-efficiency refrigeration
MAKING OUR LOGISTICS SMARTER units, we have achieved a 10% annual reduction in terminal energy At the same time, we launched the “Value Your Idea” program,
consumption and significantly reduced greenhouse gas emissions inviting employees to submit feasible carbon reduction proposals.
Transportation emissions between breweries, warehouses, bars, associated with refrigerants. Additionally, we conduct performance Contributors with outstanding suggestions are awarded bonuses and
restaurants and retailers account for 11% of the product’s carbon evaluations of energy consumption across different brands and models public recognition, effectively stimulating employee engagement
footprint. To reduce carbon emissions in transportation and distribution, of refrigerators, prioritizing the procurement of more efficient units to in decarbonization and fostering a positive culture of low-carbon
the Company continues to advance the electrification of our transport lower energy use per unit of product. For existing equipment, we have operations. Additionally, Wusu Brewery, a brand under the Company,
fleets and the replacement of traditional lead-acid batteries with more implemented energy management systems to collect data, conduct has established a monthly performance incentive program, encouraging
environmentally friendly lithium-ion batteries. By 2025, all breweries analysis, and optimize operations, thereby enhancing overall energy all employees to submit innovative environmental ideas and provides
had achieved 100% electrification of their forklifts. At the same time, management and continuously reducing carbon emissions. In 2025, we support for their implementation. This initiative promotes active
we have strengthened suppliers’ energy-saving awareness through purchased approximately 11,083 energy-saving refrigerators. employee participation in environmental innovation and strengthens
training programs and are driving continuous improvement in energy awareness of energy conservation and emissions reduction across the
efficiency performance across the logistics supply chain. organization.
Greenhouse Gas Emissions in 20256
Indicators Unit 2025 Indicators Unit 2025
CO2 emissions from the use of natural gas tCO2e 64,819.90 GHG emissions (Scope 2)8 tCO2e 25,042.47
CO2 emissions from the use of biogas produced by
tCO2e 0.54 GHG emissions (Scope 1+Scope 2) tCO2e 92,801.49
sewage plants
CO2 emissions from district heating facilities (with tCO2e/ RMB 10,000 in
tCO2e 25,042.47 GHG emissions (Scope 1+Scope 2) intensity 0.06
standard heating systems) revenue
CO2 emissions from the heat energy consumed tCO2e 89,862.91
consumption in processing and conversion, also known as intermediate consumption. Final consumption, as opposed to intermediate
Total CO2 emissions from breweries tCO2e 92,801.49 consumption, means that energy is not used for intermediate processing and conversion, but is directly used in production and non-
production activities.
CO2 emissions from refrigerants tCO2e 2,938.58 6 We use the “operational control method” to collect and calculate greenhouse gas emission data.
GHG emissions (Scope 1)7 tCO2e 67,759.02
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 22
TACKLING CLIMATE CHANGE
The Company fully recognizes the severe challenges posed by GOVERNANCE STRATEGY
climate change and the urgency of taking corresponding action, and
it continuously advances the identification and analysis of climate-
The Company is continuously strengthening its climate risk “Tackling climate change” is one of our core ESG topics. We are actively
related risks. We have established a climate management system
management capabilities by establishing a three-tier ESG management advancing the “Together Towards ZERO and Beyond” (TTZAB) ESG
covering four dimensions: Governance, Strategy, Impact, Risk and
system, with the President, TTZAB Target Owners, and ESG Owners program, are commited to the goal of a net ZERO value chain by 2040
Opportunity Management, and Indicators and Targets. Through
as its core. This system oversees the identification, assessment, and are proactively advancing our TTZAB Action Plan.
this system, we systematically identify climate risks and develop
prevention and control of climate risks. The President is responsible for
corresponding response measures, aiming to mitigate the potential
leadership and the decision-making of the ESG strategic direction of
impacts of climate change on the Company’s business and steadily
the Company, which includes issues such as tackling climate change.
enhance the enterprise’s climate resilience.
Under the overall leadership of the President, the Vice President of
Supply Chain authorizes the ESG Owners to implement specific ESG
practices, focusing on the identification, assessment and response
to risks including climate change, and submitting regular special
reports. Timely review and improvement drive the optimization and
enhancement of the management closed loop.
IMPACT, RISK AND OPPORTUNITY INDICATORS AND TARGETS
MANAGEMENT
The Company publicly discloses the progress of the TTZAB program
Combining industry characteristics and our own operational realities, and key performance indicators on an annual basis. Details on the
we have systematically conducted climate change risk identification. achievement of specific indicators and targets can be found in the
We have comprehensively sorted out physical risks and transition risks chapters “ZERO Carbon Footprint: OUR TARGETS & PROGRESS” ,
in operations, and clarified the list of climate change risks, including “ZERO Farming Footprint: OUR TARGETS & PROGRESS” , “ZERO
impacts of these risks and opportunities on the Company’s strategy Waste: OUR TARGETS & PROGRESS” in this Report.
and business model in the short, medium and long term. For different
risk categories, we have formulated corresponding action plans and
response measures, and allocated dedicated financial, human and
technical resources. These arrangements support plan implementation,
strengthen process supervision, track annual progress, and continuously
improve the enterprise’s climate adaptability and resilience.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 23
Climate Change Risk Identification and Response
Type of Risk Category of Risk Risk Description and Impact Our Response
Frequent extreme weather events, including extreme heat, Regular inspection and
extreme rainfall, typhoons, and floods, may reduce soil Carrying out regular inspection of facilities to prevent equipment and personnel from being harmed by extreme
early warning
productivity and severely affect the planting and harvesting weather; paying close attention to the weather conditions, and conveying early warning information to each
of agricultural products, leading to supply and price volatility post in time;
Acute risks Development of
of key beer raw materials such as barley. Meanwhile, such Formulating emergency plans for extreme weather, and carrying out emergency drills regularly to ensure the
emergency plans
events can disrupt production operations and logistics, full and effective implementation of emergency plans and minimize losses caused by extreme weather;
causing business losses and increasing expenses for the repair Plant and equipment
Physical risks Performing windproof reinforcement and regular maintenance at breweries.
of warehouse infrastructure. reinforcement
Chronic risks such as rising average temperatures caused by High water risk Setting the goal of ZERO Water Waste, implementing high water risk assessment projects, and strictly
climate change may reduce soil productivity and significantly assessment strengthening
controlling water use and other related risks in high-risk areas;
impact the planting and harvesting of agricultural products, Promotion of
Chronic risks Exploring climate-friendly regenerative agriculture programs, requiring suppliers to have sustainable forest
leading to supply and price volatility of key raw materials sustainable agriculture
including barley, which could reduce the Company’s operating and other conservation certifications, establishing a raw material management plan, and strengthening local
revenue. procurement of raw materials to ensure supply chain stability.
International and domestic regulatory agencies, capital
market rating indexes and other requirements for the Policy tracking Continuing to track green and low-carbon policies, and global climate policy trends, including carbon pricing
disclosure of corporate environment-related data continue policies, for a timely study and analysis of policies released, and strengthening the communication with
to increase.To cooperate with the implementation of carbon regulatory authorities and stakeholders to actively respond to the demands of stakeholders;
Policy risks trading, the government has increased the requirement for the Sustained emission
Implement carbon reduction initiatives across the full value chain, covering raw materials, production, packaging,
reduction actions
accuracy of carbon emissions data reporting by enterprises. transportation and distribution, and cooling and storage. Measures include increasing the use of clean energy,
Failure to disclose relevant environmental information in a launching comprehensive heat utilization projects, and electrifying logistics and passenger vehicle fleets, to
timely manner in accordance with relevant laws, regulations support the goal of achieving a net ZERO value chain by 2040.
and policies may lead to compliance risks.
Technological improvements or innovations that support the Energy saving Giving priority to the purchase of energy-saving equipment as guided by the energy-saving fridge project, and
transition to a low-carbon, energy-efficient economic system transformation
using HFC-free refrigerants and energy-saving refrigerators. Carrying out energy-saving renovation of existing
may influence business operations. On the one hand, we need equipment, such as repairing old equipment and strengthening the insulation of equipment;
to pay attention to the impact of water resources, energy Efficiency
Technology risks Continuously conduct feasibility studies on new low-carbon and energy-saving technologies and carry out pilot
and other inputs on costs, which may lead to an increase in improvements
compliance and operating costs. On the other hand, failure to applications. Improving the production efficiency through technical transformation and improved management
Transition measures. Keep tracking the development of new energy technologies, and exploring recycling technologies for
invest in or develop new low-carbon technologies will lead to
risks waste wet distiller’s grains and waste yeast liquor, and vigorously develop a circular economy.
the risk of financial loss.
Change in consumer behavior, uncertainty in market signals, Development of low carbon Researching and developing low carbon solutions to reduce the carbon intensity of business operations and
and increase in raw material costs lead to potential market products/packaging
provide customers with products and packaging with a lower carbon footprint, and selecting greener and low-
risk. If consumers’ demand for low-carbon/energy-saving carbon suppliers;
Market risks
products is increasing while we cannot innovate in time to Responding to
meet consumer demand, it will lead to the risk of reduced In response to consumer demands, corresponding countermeasures have been taken to meet customers’
customer expectations
operating income. expectations and take into account their preference factors.
Compliance disclosure Ensuring the legality and compliance of cost information disclosure, and regularly publishing measures and
Shift in consumer preferences on perceptions of corporate performance results;
climate management, increased stakeholder concerns, or Green claim Actively responding to climate change, consciously promoting the low-carbon image of the Company, and
Reputation risks negative feedback based on insufficient efforts to tackle improving our green reputation. Strengthening communication with stakeholders to understand and respond to
climate-related issues (e.g., failure to achieve the goal of their demands;
reducing GHG emissions). Risk control Paying attention to the risks caused by climate change, ensuring that the risks are controllable to avoid the
negative impact of risks on the corporate image.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 24
OUR TARGETS & PROGRESS
The Company has established a systematic target tracking and improvement mechanism to monitor progress and the implementation progress of dedicated improvement actions. In 2025, the Company gradually advanced the ZERO
Carbon Footprint goal through energy-saving technical renovations, heat pump applications, and comprehensive utilization of biogas heat energy. It plans to achieve a net ZERO value chain by 2040.
Progress in 2025 Status Planned Actions for 2026 2030 Targets 2040 Targets
Continuously improve boiler efficiency, Launch pilot zero-carbon footprint
reduce evaporation rates in boil kettles, breweries, and comprehensively use
enhance comprehensive utilization energy storage, electric boiler, heat pump,
of thermal energy, and promote the biomass boiler and
application of heat pump technology to other technologies to promote the
effectively reduce carbon emissions progress of our ZERO Carbon Footprint
Net ZERO value chain
Brewery forklifts have achieved 100% Continue to promote the electrification of All renewable electricity must come from new
electrification our logistics fleets assets (e.g., via power purchase agreements)
In 2025, approximately 11,083 energy-
Increase the number of new refrigerators
efficient refrigerators were procured,
purchased with environmentally friendly
achieving a 10% reduction in terminal
refrigerants
energy consumption
Done
Done Undone
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 25
ZERO Farming Footprint
Beer production relies on malt, water, hops and other key ingredients, regenerative agricultural practices and are sustainably sourced by 2040, areas such as soil improvement and animal husbandry. This enhances
and the acquisition of these ingredients is closely related to the natural to improve the resilience of agricultural ecosystems. the level of resource circularity while indirectly reducing greenhouse
ecosystem and sustainable agricultural development. To protect the gas emissions from agricultural production and reducing the carbon
natural environment and minimize the potential impact of raw material footprint of agricultural systems. In 2025, we recycled 308,000 tons of
sourcing on ecosystems, we continue to explore and promote the OUR ACTION spent grains, equivalent to the annual feed for 52,800 head of cattle or
implementation of initiatives of sustainable agriculture, commit to 369,600 head of sheep.
sustainable forest and biodiversity conservation, and strengthen the
procurement, use and management of sustainable raw materials. We are committed to reducing the environmental impact and carbon
footprint of agriculture in raw material cultivation, protecting the
agricultural ecosystem. We continue to promote sustainable agriculture,
OUR STRATEGY biodiversity conservation, and the management of sustainable raw
In 2025，
material procurement, aiming to enhance the use of resources and
the Company recycled and utilized a total of
jointly drive the sustainable development of the industry chain as well
To strengthen the management of sustainable raw materials and as the creation of local economic value.
reduce and mitigate potential deforestation risks, we strictly abide by tons of spent grains
the Forest Law of the People’s Republic of China , the Implementation
Regulations of the Forest Law of the People’s Republic of China
PROMOTING SUSTAINABLE AGRICULTURE equivalent to the annual feed for
and other laws and regulations and relevant local policies related to
forest protection. We also follow the Requirements on Direct Material
Quality , the Supplier’s Requirements on Non-contract Material Quality We continue to deepen collaboration with raw material suppliers, head of cattle or
and other policies of the Group, which set clear requirements and farmers and other stakeholders to jointly explore and promote climate-
standardized guidelines for suppliers regarding the legal compliance, friendly renewable agriculture programs and practices, actively invest
certification management, quality and food safety mechanism, in sustainable agriculture development, and improve rural livelihoods head of sheep
and traceability of raw materials. Furthermore, we emphasize the and social equity. Under the premise of ensuring product quality
traceability management of raw materials, requiring suppliers to and production safety, the Company systematically gives priority
identify each product unit and its related data, and reviewing the to green raw materials, processes, technologies and equipment, and
traceability of suppliers’ raw materials to ensure the traceability of raw has established a full green life cycle process such as product design,
materials. During the reporting period, the proportion of our traceable material selection, production, marketing, recycling and the harmless
primary materials reached 100%. disposal of waste. We also work on increasing the Overall Equipment
Effectiveness year by year to reduce raw material leaching loss,
We also follow the Group’s Environmental Policy 9 and actively practice continuously improve our raw material production rate, and achieve
biodiversity conservation to reduce the impact of our operations on efficient use of resources and minimize environmental impact.
the ecological environment. In addition, we enhance the procurement
of sustainable raw materials, aiming to achieve the target that 30% The Company actively promotes resources recovery and the utilization
of raw materials are from regenerative agricultural practices and are of by-products generated during the production process such as “spent
sustainably sourced by 2030 and 100% of raw materials are from grains” and “waste yeast liquor”, which are scientifically applied in
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 26
ZERO Farming
Footprint
SANSHUI PRODUCTION BASE IN
FOSHAN LINKS INDUSTRY CHAIN
TO PROMOTE BY-PRODUCT
RESOURCE UTILIZATION
Sanshui production base in Foshan significantly enhances the localization
efficiency of its supply chain by leveraging local raw materials supply and
comprehensive industrial support services. By reducing the long-distance
transportation of raw materials, it is actively implementing measures to
help realize the Company’s strategic goal of a ZERO Farming Footprint.
Regarding the resource utilization of by-products, the base fully
utilizes the cluster advantages of the Foshan Shuidu Beverage and
Food Industrial Park. Adopting a model of “enterprise-led + park-wide
collaboration”, it systematically advances the recovery of resources and
circular utilization of brewing by-products. By-products generated during
production, such as spent grains and yeast, are transferred by the base to
specialized institutions for resource processing. These are converted into
feed ingredients and reintroduced into feed ingredients and reintroduced
into the agricultural and feed industry chains, “turning waste into treasure”.
This practice not only establishes a sustainable agricultural nutrient cycle
system, improves resource utilization efficiency, and reduces final waste
disposal volume, but also provides a replicable pathway of industrial
collaboration for Foshan’s “Zero-Waste City” initiative.
The by-product recycling practice at the base represents a successful
attempt to organically link industrial production systems with agricultural
ecosystems. It not only embodies the circular concept of “resource-
products-renewable resources” in sustainable agriculture, but also provides
a practical model for reducing regional agricultural environmental loads,
promoting ecological protection in both urban and rural areas, and
fostering harmonious coexistence between industry and nature.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 27
BIODIVERSITY CONSERVATION its long-term goal of a ZERO Farming Footprint. In 2025, we achieved
localized procurement of hops and 35% localized procurement of malt Localized procurement
The Company places great emphasis on protecting the ecological
environment and biodiversity conservation. On the basis of the products. Packaging materials such as glass bottles, cartons, paper
boxes, shrink films and cans are also 100% locally sourced. We will
continuous implementation of the ESG program and practice, the
Company cooperates with stakeholders to carry out public welfare further increase the proportion of local procurement and reduce carbon
ecological and environmental protection projects, participates in emissions generated by long-distance transportation. of of hops
conservation actions, and promotes synergistic development between main auxiliary materials
In addition, we set clear requirements regarding the source of base
the enterprise, nature, and society. From 2024, we collaborated with
paper materials for cartons. We require the base paper materials
the World Wide Fund for Nature (WWF) to launch the Yangtze River
provided by all carton suppliers to be certified by Forest Stewardship
Basin Water Replenishment Program to restore wetlands and purify
Council (FSC), Program for the Endorsement of Forest Certification of malt products
water sources in Chongqing, Yunnan and Jiangsu. Methods include
Schemes (PEFC), the Sustainable Forestry Initiative (SFI) or equivalent
planting aquatic vegetation and introducing native fish species to
certifications, to maximize the conservation of forest resources.
enhance the diversity of wetland ecosystems. In the Chongqing
At present, our major carton suppliers have passed the ISO 14001
Sanqing Wetland Park project, the Company worked with Liangping
environmental management system certification, and some of them
District Wetland Conservation Center to plant over 20 species of
have obtained FSC certification.
aquatic plants with high water purification functions in the biological
trenches, supplemented the banks with more than 10 species of
native ornamental vegetation, and scientifically released fish such
as silver carp and bighead carp. These efforts effectively increased OUR TARGETS & PROGRESS
wetland biodiversity, optimized community structure, and significantly
enhanced the water self-purification capacity and ecological resilience. We have developed a systematic target tracking and improvement mechanism to monitor the progress towards our goals and identify special
By May 2025, all related work had been completed, strengthening the improvement actions as necessary. In 2025, we gradually promoted the ZERO Farming Footprint initiative by continuing to carry out biodiversity
ecological service functions of the wetland while also providing a more conservation projects and strengthening local procurement of raw materials, and plan to achieve the goal that 100% of our raw materials are from
stable ecological environment for the surrounding area. Please refer to regenerative agriculture practices and are sustainably sourced by 2040.
the “ZERO Water Waste” section for cases of wetland conservation.
SUSTAINABLE RAW MATERIAL Progress in 2025 Status Planned Actions for 2026 2030 Targets 2040 Targets
PROCUREMENT MANAGEMENT
Collaboration with WWF in wetland restoration and water
source purification work in Chongqing, Yunnan and Jiangsu.
We actively implement a sustainable and localized raw material
Together with the Liangping District Wetland Conservation
procurement strategy, continuously advance the local procurement Continue to carry out
Center, we planted over 20 species of aquatic plants with
biodiversity conservation
of raw materials. We continue to deepen cooperation with high- high water purification capabilities in biological trenches and 30% of our raw
projects 100% of our raw
quality domestic suppliers, give priority to raw material suppliers supplemented the riverbanks with with more than 10 species materials are
of native ornamental vegetation, enhancing the diversity of materials are
(including barley, rice, etc.) close to our breweries, sign long-term from regenerative
the wetland ecosystem. from regenerative
agricultural
contracts with suppliers to encourage local agriculture, and promote agricultural
practices and
the local hop growing industry, steadily increasing the proportion of practices and are
Continue to increase are sustainably
local procurement for key raw materials. By doing so, we can shorten sustainably sourced
the proportion of local sourced
the transportation distance, reduce fuel consumption for transport, procurement and reduce
localized procurement of hops and 35% localized procurement
effectively lower the environmental impact related to raw material the carbon emissions
of malt products
generated by long-distance
logistics, and enhance the synergy and resilience of regional agriculture
transportation
supply chains. This lays a solid foundation for the Company to achieve
Done
Done Undone
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 28
ZERO Packaging Waste
In the context of intensifying global resource constraints and increasing utilization efficiency of product packaging. We continuously monitor enhance recyclability. Our Carlsberg Light series products also use
awareness of environmental protection, we are face the primary task and evaluate KPIs related to packaging material loss rates through a Cradle to Cradle eco-friendly ink labels, which is characterized by
of reducing packaging waste and promoting sustainable development. monthly reporting mechanism, effectively reducing packaging material the use of environmentally safe, recyclable production materials and
We continue to advance sustainable packaging practices to reduce consumption, resource waste, and environmental impact. We are renewable energy, reliable management of water resources, and social
packaging waste and environmental pollution through sustainable continuously improving the bottle return rate and packaging recycling equity in the production process. In 2025, about 490 million eco-
packaging design, recycling of packaging materials and other initiatives. efficiency, so as to promote resource circularity and sustainable friendly ink labels were used.
development.
OUR STRATEGY GREEN DESIGN OF PACKAGING
Approximately
We actively integrate the green design concept into product packaging,
We actively promote innovative collaboration by integrating the
and widely use reusable or degradable packaging materials in plastic
concept of sustainable packaging into the research, development and million Cradle to Cradle eco-friendly
boxes, glass bottles, pallets, barrel beers, partitions, top frames, cans,
application of packaging materials, promoting packaging upgrades
aluminum bottles and pull cap packaging. ink labels were used in 2025
towards green, environmentally friendly and lightweight solutions. We
strictly follow the Group’s Environmental Policy and work with partners Beers are mainly contained in aluminum two-piece cans, which
to decrease packaging material usage and encourage recycling and are light in weight, small in size, and high in recycling rate, and the
reuse. In order to identify and lessen the potential impact of packaging production energy consumption is greatly reduced compared with
on the environment, a life cycle assessment (LCA) or equivalent conventional glass bottle packaging. Therefore, this year we focused
environmental assessment is necessary before new packaging is put on improving the canning rate of products to gradually increase the
on the market. In addition, we adhere to the ZERO Packaging Waste market share of canned products. Compared to 2024, the canning rate
ambition through green design, lightweight packaging, recycling and of our products in 2025 increased by 2.4%, effectively reducing the
other strategies, which entails achieving by 2030: 100% recyclable, consumption of packaging materials. In addition, we use bulk bags
reusable, or renewable packaging materials; a 90% collection and made from recyclable materials for the outer packaging of agricultural
recycling rate for bottles and cans; a 50% reduction in virgin fossil- raw materials, reducing environmental pollution caused by packaging
based plastic; and 50% recycled content in bottles and cans. material waste. For raw materials such as malt and cornstarch, we
transport them in bulk instead of disposable plastic woven bags to
improve transport efficiency and reduce packaging material use.
Compared to 2024, the Company further reduced its use of plastic
OUR ACTION woven bags by approximately 170,000 units this year, resulting in
a decrease of approximately 17 tons in plastic consumption and a
reduction of approximately 50 tons in carbon emissions.
We continuously promote the green transformation of the packaging
process. Through initiatives such as green packaging design, lightweight Furthermore, we have optimized the environmentally friendly structure
packaging, packaging recycling and other measures, we improve the of our cans integrating the pull ring with the body of the cans to
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 29
ZERO Packaging
Waste
TRANSFORMING PACKAGING
MATERIALS INTO RESOURCES –
A NEW EXPLORATION OF THE
CIRCULAR ECONOMY
The Company regards the standardized management and resource
utilization of packaging materials as a key component in developing
the circular economy and building a green packaging system,
advancing a full-chain management system covering collection,
regeneration, and recycling. We comprehensively recycle packaging
materials such as glass debris, recyclable glass bottles, plastic pallets,
plastic crates, partitions, and kegs. Aluminum scraps generated during
the production process are remelted and regenerated for the production
of recycled cans, achieving circular use. In 2025, the Company recycled
a total of 20,927.19 tons of waste cartons.
Regarding glass packaging recycling, all glass debris generated during
the production process is uniformly collected and entirely transferred to
professional recyclers and existing glass bottle suppliers for remelting.
As a high-quality recyclable raw material, the remelting of glass debris
not only ensures the stable quality of new glass bottles but also
significantly reduces production energy consumption and decreases the
demand for virgin mineral resources such as quartz sand and soda ash.
This approach reduces resource consumption and the environmental
burden at the source, systematically enhancing the lifecycle circular
efficiency of glass packaging. In 2025, Foshan Brewery implemented
an automatic glass debris collection project, further improving the
efficiency and standardized management level of glass debris recycling
and promoted this resource utilization. This year, the Company recycled
a total of 30,000 tons of glass debris, reducing carbon emissions by
approximately 23,900 tons. In addition, the recycling of glass debris
also reduces the volume of glass waste entering landfills, effectively
alleviating the pressure of solid waste treatment.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 30
REDUCING USE OF MATERIALS PACKAGING MATERIAL RECYCLING AND RECOVERY
We continue to advance packaging reduction and the use of lightweight We continued to advance the recycling and reuse of packaging materials,
packaging by prioritizing the procurement of lightweight and recycled optimize the packaging mix, standardize recycling and disposal processes,
In 2025, the bottle return rate saving about
glass bottles and PVC-free labels to optimize the design of various improve the efficient reuse of recyclable packaging waste and reduce
increased by
packaging types to reduce material consumption and resource waste. In the impact of packaging materials on the environment. In addition, we
shrink film, glass bottles, etc., and achieved significant results. to encourage distributors to expand the coverage of bottle returns, and compared to 2022
of recyclable packaging
constantly promote improved performance of bottle returns. In 2025, our
bottle return rate increased by 4.3% compared to 2022, saving about
CORRUGATED CARTON WEIGHT REDUCTION RMB 7.5 million of recyclable packaging.
The Company is advancing the reduction of face paper weight in
corrugated cartons by 30g, saving approximately 3,800 tons of
paper; in 2024, nine breweries completed tests for Phase II, and OUR TARGETS & PROGRESS
officially put it into production in 2025. It is expected to reduce the
use of paper by about 2,300 tons this year.
We have developed a systematic target tracking and improvement mechanism to monitor the progress towards our goals and take special improvement
WRAP FILM WEIGHT REDUCTION actions where a need is identified. In 2025, through green packaging design, lightweight packaging, packaging recycling and recovery, and other
The Company initiated a lightweight project in 2023 to reduce wrap measures, we continued to improve the bottle return rate and packaging recycling efficiency, constantly reducing resource waste and environmental
film thickness by 5 microns, which has been promoted in multiple pollution, and gradually promoting our goal of ZERO Packaging Waste by 2030.
breweries; by 2025, all but five breweries have completed testing
and successfully switched their wrap film. This is expected to save
about 236 tons of plastic film this year. Progress in 2025 Status Planned Actions for 2026 2030 Targets
SHRINK FILM WEIGHT REDUCTION
Further improve the glass debris recycling
Recycling of 30,000 tons of glass debris
The Company initiated an optimization project in 2024 to reduce management system
the thickness of shrink film for canned products by 10 microns.
Dali Brewery took the lead in completing this switch. In 2025, four Increase in bottle return rate by 4.3% compared Expand the coverage of bottle returns and
to 2022 improve the overall bottle return rate
breweries successively implemented the project, resulting in a saving
of about 100 tons of plastic film this year. renewable packaging
We have carried out special actions focusing on
GLASS BOTTLE WEIGHT REDUCTION reducing the weight of corrugated cartons, wrap Continue to promote the packaging weight 90% collection and recycling rate
film, shrink film, glass bottles, etc., and achieved reduction project for bottles and cans
The Company implemented a glass bottle weight reduction project positive progress.
for the 620ml Wusu bottle in Xinjiang, achieving a reduction of 20g based plastic
per bottle, reducing the use of glass by about 1,900 tons in 2025. By using bulk transportation instead of
disposable plastic woven bags, compared
and cans
CAN WEIGHT REDUCTION to 2024, the Company further reduced its
Continue to reduce packaging use, and
use of plastic woven bags by approximately
reduce carbon emissions generated by
From June 2025, some of the Company’s breweries progressively 170,000 this year, resulting in a decrease of
long-distance transportation
completed and put into operation the can weight reduction project. approximately 17 tons in plastic consumption
and a reduction of approximately 50 tons in
By the end of 2025, the total reduction in aluminum across our
carbon emissions.
China region operations reached 350 tons.
Done
Done Undone
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 31
ZERO Water Waste
systematically establish whole-process management measures
ELIMINATING BREWERY WATER WASTE
spanning from risk prevention and control, efficiency improvement,
to ecological replenishment. These include conducting water resource
assessments, implementing water-saving technological transformation, The Company fully integrates the concept of water conservation into
Water is not only a core element in beer brewing but also a critical
and promoting water replenishment projects, fostering the synergistic whole-process management of key operational stages, including
foundation for maintaining ecosystem stability. We deeply recognize
development of water use efficiency improvement and water brewing and packaging. By identifying water-saving targets at each
that high-quality water sources not only determine product quality
environment protection. production level, we systematically advance the implementation of
and brewing heritage, but also directly impact the ecological balance
water-saving measures such as reclaimed water reuse, optimized
of river basins and the sustainable development of communities. We
cleaning processes, and the application of intelligent water resource
consistently prioritize water resource management and protection STRENGTHEN WATER RESOURCE RISK systems, continuously improving our water resource utilization
as a core mission. By deeply integrating water conservation and
efficient utilization into daily operations, we continuously drive process
MANAGEMENT efficiency. In addition, the Company conducts regular maintenance,
repair, and upgrading of production equipment annually to ensure
optimization and refined management, focusing on improving our water
At present, the global water resources distribution is extremely uneven, efficient operation and reduce unnecessary water loss. We are
recycling efficiency, reducing our water consumption, and strengthening
and different regions of the world are facing intensifying degrees of committed to contributing to high-quality and sustainable economic
our water performance improvement and water replenishment practices
water pressure. The Company strictly abides by the Water Law of the and social development through conservation, intensive use, and
in high-risk areas.
People’s Republic of China and other water resources protection laws effective utilization of water resources.
OUR STRATEGY and regulations, and is continuously improving its water resources
Furthermore, we utilize the loss cost tree tool to benchmark against the
management system. We regularly conduct water risk assessments to
Group’s benchmark breweries, analyze their Key Action Indicators (KAIs)
identity risks of water resource shortage and impacts, and implement
We focus on the rational and efficient use of water resources, related to water consumption, and identify potential optimization
differentiated prevention measures and monitoring mechanisms to
prioritizing it as a key aspect of our operations management. Under opportunities for breweries in the China region. We also leverage lean
ensure water supply security and long-term availability. We attach
the leadership of the President, the VP of Supply Chain is responsible production tools to identify good practices for water efficiency and
great importance to the protection of water-scarce regions and optimize
for water management strategy and performance. We have established promote their application across other breweries.
water risk management, and work with local communities to focus on
a professional water management team to leverage data-driven
controlling water-related risks of breweries located in high-risk areas by This year, the Company achieved water consumption per unit of 2.03
monitoring and optimize the use of water resources, and introduced
engaging in water rights trading, water conservation and water control, hl/hl, representing a 2.87% reduction and resulting in an annual water
advanced water-saving technology to reduce water consumption in the
etc., to improve our water risk response and enhance the resilience of savings of 222,000 tons compared to 2024. Currently, seven of our
production process. We are constantly improving the management of
water resources management. In 2025, for the seven identified high-risk breweries have already taken a lead in achieving our strategic goal
water resources, continuously promoting the comprehensive control of
areas in China, we have put into use reclaimed water reuse projects at of reducing the water consumption to 2.0 hl/hl within the Company
water resources to steadily improve water efficiency. We are committed
six breweries, and the annual weighted average water consumption per by 2030. Among them, Dazhulin Brewery in Chongqing has reached
to achieving the overall goal of ZERO Water Waste by 2030, which
hl of beer produced at those breweries was 1.98 hl/hl. 1.70 hl/hl of water consumption, achieving the goal of reducing to 1.7
includes achieving our strategic goal of reducing the water consumption
to 2.0 hl/hl within the Company by 2030, 1.7hl/hl at breweries in hl/hl by 2030 ahead of schedule, demonstrating our commitment to
high-risk areas, and 100% water replenishment at breweries in high- Water Usage in 2025 practicing sustainable water resources management.
risk areas, thereby comprehensively enhancing water resilience and
ecological management.
Year Unit (hl/hl)
OUR ACTION 2025 2.03
We are well aware of the core value of water resources management
for both business operations and the ecological environment, and Tianmuhu Brewery, Yinchuan Brewery, Kunming Brewery, Dazhulín Brewery, Wusu Brewery and Korla Brewery.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 32
ZERO Water
Waste
YINING BREWERY AND KORLA
BREWERY TWO OF FIVE NEW
ENTERPRISES HONORED AS
WATER-SAVING ENTERPRISES IN
XINJIANG
In 2025, Yining Brewery and Korla Brewery, subsidiaries of the Company,
were awarded the title of “Xinjiang Uygur Autonomous Region Water-
saving Enterprises in the Industrial Sector” by the Department of Industry
and Information Technology of the Xinjiang Uygur Autonomous Region,
in recognition of their systematic water conservation practices. This year,
only five new enterprises in Xinjiang received this recognition, with Yining
Brewery and Korla Brewery accounting for two of them.
Both breweries continuously improved their water-saving management
systems through a combination of process optimization, equipment
upgrades, water conservation training, publicity and education, and incentive
mechanisms. These efforts consistently enhanced employee awareness of
water conservation, promoted the normalization and institutionalization of
water-saving practices, and comprehensively improved their water resource
management capabilities.
Yining Brewery is reducing its water consumption and improving its
water reuse levels by recycling process drainage water for landscaping,
upgrading and modifying the clean water spray system of bottle washers
and installing mechanical stabilizers in pipelines, further enhancing water
efficiency and operational resilience.
Korla Brewery conducted water balance tests to systematically analyze
water usage, timely identified and repaired pipe network leaks, eliminated
“run, drip, leak, and seep” and reduced water resource waste. Korla Brewery
also completed the upgrade of its wastewater treatment station, achieving
annual water savings of 23,000 cubic meters. This drove synergistic
improvements in both water use efficiency and operations costs. Currently,
both breweries have achieved 100% penetration rates for water-saving
household appliances and water-saving irrigation for greening.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 33
IMPROVE THE WATER RECYCLING EFFICIENCY
The level of water recycling is an important indicator of improved water efficiency and the promotion of
the sustainable use of water resources. The Company actively promotes the recycling of water resources in
breweries, and promotes the construction and operation of a reuse system for reclaimed water. The reuse of
reclaimed water in the breweries for greening, toilet flushing and equipment cooling can reduce the intake of
fresh water while decreasing wastewater discharge and improve the reuse efficiency of water resources. In
Yinchuan Brewery, Dazhulin Brewery, Liangping Brewery, Kunming Brewery, Korla Brewery and other
breweries. This year, the cumulative amount of reclaimed water reuse reached 201,200 tons.
Case YINCHUAN BREWERY IMPLEMENTS LEAN WATER MANAGEMENT Case URUMQI BREWERY ADVANCES WATER RESOURCE RECYCLING
To improve water resource utilization efficiency and reduce production water intensity, Yinchuan Urumqi Brewery implemented a reclaimed water reuse project to conduct advanced treatment of
Brewery in the Nigxia Hui autonomous region has established a whole-process monitoring system production wastewater, enabling it to meet reuse standards. The treated reclaimed water is now
covering the entire chain from “water source” to “water tap”, implementing end-to-end water used for toilet flushing in production areas, landscaping, and as supplementary cooling water
conservation management. The Brewery has focused on cleaning processes and reuse systems. By for certain production equipment. Since the project commenced operation, the reclaimed water
optimizing cleaning procedures and upgrading the reclaimed water recovery and treatment system, system’s production capacity has increased to 150 tons per day, and annual water saving reaches
it significantly enhanced both reclaimed water reuse levels and water management effectiveness. approximately 30,000 tons.
Since 2015, Yinchuan Brewery has achieved a 43.6% reduction in water consumption per hl of beer
brewing, demonstrating significant progress in water conservation. The brewery has established an incentive mechanism to encourage employees to actively participate
in water conservation efforts and submit innovative water-saving ideas, fostering a company-wide
water conservation culture built through collective participation.
Yinchuan Brewery in Ningxia Production scene at Urumqi Brewery
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 34
PROTECTION AND REPLENISHMENT OF SHARED WATER SOURCES
The Company deeply recognizes that the stability and health of river basin ecosystems are critical foundations to the sustainable development of Data on Water Resources in 2025
the local economies and society. We continuously monitor the ecological environment of the river basins in our operation areas, and collaborate with
stakeholders, including government and communities, to implement public welfare environmental protection projects. so as to improve the ecological
environment of river basins and contribute to the ecological security and sustainable development of the river basin. Indicators Unit 2025
Own boreholes m 302,434.00
YANGTZE RIVER BASIN WATER REPLENISHMENT PROJECT COMPLETED, MORE THAN 30,000 M? OF
Case Municipal water m3 5,266,005.19
WETLAND AREA RESTORED OR NEWLY ADDED
Surface water m3 355,013.81
Since 2024, the Company has partnered with the World Wide Fund for Nature (WWF) to launch the “Yangtze River Basin Water
Replenishment Program” in China, supporting wetland restoration and water purification in Chongqing, Yunnan, and Jiangsu. This initiative Total water use m3 5,923,453.00
explores a collaborative practice pathway integrating water resource management and biodiversity conservation. The program focuses on
Total water consumption m3 5,825,527.88
ecological restoration and water quality improvement, employing near-nature approaches to achieve “equivalent replenishment” of water
consumed during production processes at target breweries. It advances the goal of achieving 100% water replenishment at breweries in high- m /RMB 10,000 in
Total water consumption intensity 3.96
risk areas by 2030, contributing to basin ecological security and regional sustainable development. revenue
The program utilizes international standards for water replenishment quantification and collaborates with organizations including WWF
and Limnotech to ensure scientific rigor and quantifiability throughout the process. The Company coordinates with local governments,
communities, and environmental protection organizations, adopting a full lifecycle management approach covering design, implementation,
monitoring, and maintenance to ensure the stable operation and sustained ecological benefits of wetland systems. In 2025, the program
achieved a cumulative water replenishment volume of approximately 1,214,200 cubic meters, with over 30,600 square meters of wetland
area restored and newly established, equivalent to four standard football fields.
In 2025, the Company received multiple
awards for water conservation:
Huizhou Brewery was listed among
the “Top 10 Typical Water-Saving Cases in Guangdong
Province 2025”
Yining Brewery was honored as one of
the “Xinjiang Uygur Autonomous Region Water-saving
Enterprises in the Industrial Sector 2025”
Korla Brewery was honored as one of
the “Xinjiang Uygur Autonomous Region Water-saving
Sanqing Wetland in Liangping District
Enterprises in the Industrial Sector 2025”
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 35
OUR TARGETS & PROGRESS
We have developed a systematic target tracking and improvement mechanism to monitor our progress towards our water conservation goals and take
special improvement actions. In 2025, we continued to contribute to the achievement of the goal of ZERO Water Waste by 2030 by promoting water-
saving projects, introducing innovative water-saving technologies, optimizing and upgrading production equipment and processes, and promoting water
source protection and ecological restoration.
Progress in 2025 Status Planned Actions for 2026 2030 Targets
Water saving transformation by using
advanced technology, processes and
Continue to carry out water
equipment. In 2025, the Company achieved
resource risk assessments and
a water consumption per unit of 2.03 hl/hl,
carry out water-saving projects for
representing a 2.87% reduction and resulting
breweries in high-risk areas
in an annual water savings of 222,000 tons
compared to 2024
Water usage efficiency of 2.0 hl/
hl in the Company, and 1.7 hl/hl at
breweries in high-risk areas
Carry out water rights trading.
Implementation of reclaimed water reuse Continue to invest in reclaimed Water rights trading 100%
with total amount of reclaimed water reuse water reuse replenishment of water usage at
reaching 201,200 tons in 2025 breweries in high-risk areas
Complete the Yangtze River Basin
Water replenishment projects in Chongqing,
Water Replenishment Projects so
Yunnan and Jiangsu to replenish 1,214,200 m3
that they can start to continuously
of water in 2025
play a role
Done
Done Undone
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 36
ZERO Irresponsible Drinking
Amid the widespread rise in public health awareness, consumers are
paying greater attention to healthy diets and responsible consumption.
OUR ACTION PROMOTING SAFE DRIVING
Demand for alcoholic beverages is progressively shifting towards
low-alcohol, high-quality, and responsible options. As a leading
The Company continuously advocates responsible behavior such We are committed to building a social consensus on safe driving,
beer company in the industry, we emphasize the ZERO Irresponsible
as responsible drinking and safe driving among employees and the resolutely resisting drunk driving, and advocating responsible and
Drinking goal, keep innovating alcohol-free and low-alcohol products
public. We actively launch alcohol-free and low-sugar products, while civilized driving among the public. Over the years, we have continuously
to meet the healthy and diversified needs of consumers. We
deepening responsible marketing practices, promoting responsible set up interactive “responsible drinking” spots at the Taihu Bay Music
systematically carry out education and publicity activities focused on
drinking concepts, and advocating a healthy lifestyle, and creating a Festival, Xixia Star Music Festival, Wusu Beer Music Festival and
“no drunk driving”, “no underage drinking”, “responsible drinking”. We
better life experience for consumers. other activities. We publicize the importance of safe driving centered
are committed to enhancing consumer awareness of scientific alcohol
on the theme “no drunk driving” through installations, Q&A sessions,
consumption, fostering consumption rationally, and jointly creating a
interactive zones, and other formats to emphasize safe driving,
civilized, healthy and harmonious alcohol consumption environment.
ENCOURAGING RESPONSIBLE BEHAVIOUR enhancing consumers’ awareness of safe driving, and contributing to a
civilized and responsible traffic culture environment.
OUR STRATEGY To effectively safeguard the health and safety of employees and the
public, we actively encourage employees to foster a moderate and
civilized approach to alcohol consumption, but also continuously
Responsible drinking is a long-standing responsibility topic for the provide guidance on safe driving to the public. We are committed to
Company. We actively communicate correct and healthy drinking working with all sectors of society to build a shared public commitment
values, promote a moderate and responsible and rational drinking to responsible drinking and safe travel.
culture, advocating a healthy and quality lifestyle. We strictly follow the
Group’s Marketing Communication Policy 11, fully implement responsible
marketing norms, and integrate our brand positioning and channel ENCOURAGING EMPLOYEES TO DRINK
characteristics. Focusing on key issues including underage drinking ALCOHOL IN MODERATION “No drunk driving” campaign poster for the Left Bank of the Galaxy
prevention, no drunk driving, and responsible drinking, we participate Music Festival
in responsible drinking advocacy through various formats, embedding
To continuously deepen the construction of responsible drinking culture
the concept of responsible drinking into diverse consumer touchpoints
within the Company, we have developed the Employee Manual, which
encountered frequently.
explicitly requires employees to abide by the initiative of responsible
To continuously advance the responsible drinking culture, the Company drinking and not to drink alcohol during work hours. The concept of
has clearly established the ZERO Irresponsible Drinking goal and responsible drinking is integrated into the employee code of conduct,
commits to realizing the following specific actions by 2030: 100% forming an integral part of internal governance alongside safety
coverage of responsible drinking messaging through packaging and management, health management, and other related components.
brand activities, establishing responsible drinking partnerships in 100%
of our markets, and upgrading 35% of our brews across the globe to
low alcohol or alcohol-free products (ABV12≤ 3.5%).
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 37
EXPANDING CHOICE WITH NO- AND LOW-ALCOHOL BREWS RESPONSIBLE MARKETING
To meet the needs of consumers for healthy and diversified products, the Company keeps promoting the We resolutely advocate the principle of responsible marketing, and implement strict standards and norms
innovative R&D of alcohol-free and low-alcohol beer products, constantly broadening its product portfolio and for product labeling and messaging, and systematically conduct responsible marketing training to ensure
integrating the responsible drinking concept into the product planning stage. the legality and compliance of marketing behavior. By providing consumers with truthful and clear product
information, we protect consumer rights and interests and actively foster a sustainable industry ecosystem and
The alcohol-free and low-alcohol brews that we have put into mass production and sold are as follows: consumption environment.
INFORMATION ON INGREDIENTS
The Company’s No/Low-Alcoholic Product Portfolio
In strict compliance with the Marketing Communication Policy , we indicate the real ingredient information, shelf
life, alcohol content, product standard and grade on our product labels to ensure the authenticity and accuracy
Name of brew ABV Type Place of origin of product information, and help consumers make informed choices.
Jolly Shandy lemon-flavored low-alcohol beer 0.6-1.5%vol Low-alcohol Kunming Huashi
CLEAR MESSAGING
WFSM lemon-flavored low-alcohol beer 0.6-1.5%vol Low-alcohol Kunming Huashi
We label all our products with the words “Excessive drinking is harmful to health”, and constantly improve the
WFSM peach blossom-flavored low-alcohol beer 0.6-1.5%vol Low-alcohol Kunming Huashi product identification system by adding “Pregnant women are prohibited from drinking”, “Minors are prohibited
from drinking”, “No driving after drinking” and other messages on our 100% alcohol products, and adding
WFSM green grape-flavored low-alcohol beer 0.6-1.5%vol Low-alcohol Kunming Huashi
responsible drinking related reminders on the product introduction pages on online sales platforms, taking the
initiative to give potential risk tips, to guide consumers to develop the concept of rational consumption.
TRAINING ON RESPONSIBLE MARKETING
We continuously regulate internal responsible marketing behavior, requiring all marketing related employees to
complete the training of the Marketing Communication Policy during their orientation, and participate in annual
refresher training and assessments to ensure that comprehensive understanding of the Company’s responsible
marketing requirements. Furthermore, we have also incorporated the Marketing Communication Policy into the
cooperation agreement with the distributors and the suppliers of the Marketing Department, requiring them to
strictly follow our responsible drinking initiative in their marketing activities.
CAMPAIGNS ON RESPONSIBLE DRINKING
To further promote the construction of a healthy and responsible drinking culture, we actively organize
campaigns such as beer festivals and music festivals to communicate the concept of healthy and responsible
drinking to the public and consumers by setting up “responsible drinking” spots, placing innovative billboards,
organizing fun games and other means. We also actively promote responsible drinking at food service outlets
and deeply embed the responsible drinking advocacy into consumption scenarios through poster displays
and consumer interactions, so as to enhance public awareness of responsible drinking, and enable stable and
sustainable development of the beer industry.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 38
ZERO Irresponsible
Drinking
DECADE-LONG RESPONSIBLE
DRINKING INITIATIVE,
COMPREHENSIVE LEADERSHIP
IN PROMOTING RESPONSIBLE
CONSUMPTION
The National Responsible Drinking Awareness Week is an industry public welfare
initiative launched by the China Alcoholic Drinks Association. Since 2015, the China
Alcoholic Drinks Association has organized the responsible drinking awareness
activities for ten consecutive years around the three themes of “no drunk driving”, “no
underage drinking”, and “drinking moderately”. The Awareness Week’s philosophy
aligns closely with Chongqing Brewery’s sustainability initiatives, making it among
the earliest enterprises to engage deeply through multi-channel promotion strategies.
Over the past decade, the initiative has expanded its coverage to 500 million people
in 563 cities and evolved into a nationwide movement.
This year marks Chongqing Brewery’s 10th consecutive participation in the Awareness
Week, where it has maximized omnichannel platforms (online and offline). By taking
advantage of its channels and scenarios, the Company integrated the concept of
responsible drinking into the daily experience of on-site spectators and the public.
In terms of online communication, we invited 10 brand ambassadors of Carlsberg,
Kronenbourg 1664, Tuborg, Wusu, Chongqing, WFSM, and DALI to jointly shoot
and release responsible drinking initiative videos, and leveraged the influence of
public figures to spread the awareness of drinking responsibility. We also displayed
responsible drinking reminders on beer product search and browsing pages across
mainstream platforms such as Taobao, JD, Douyin, Meituan, and Ele.me, so that
these reminders would be presented at the point of consumer decision-making.
According to statistics, the total impressions from such online advertising campaigns
have exceeded 2 million.
In terms of offline interactions, we advocated responsible drinking at sports
events and food service outlets. During the Chongqing City Football League
(“Yu Chao”), the Company displayed a 15-meter banner promoting responsible
drinking at the spectator stands of the Hechuan Sports Center. During the Urumqi
International Marathon, the Company promoted responsible drinking. At the food
service terminals, the Company organized direct interactions with consumers in
campaign and invited 160 military veterans to visit the brewery. Through on-site
interaction and communication, the Company further promoted the concept of
responsible drinking and enhanced the influence of the public welfare initiative.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 39
OUR TARGETS & PROGRESS
We have developed a systematic target tracking and improvement mechanism to monitor the progress towards our goals and take special improvement
actions where necessary. In 2025, we continued to promote innovative R&D of no- and low-alcohol products, further improved the responsible drinking
label information, and actively participated in the National Responsible Drinking Awareness Week to contribute to the goal of ZERO Irresponsible
Drinking by 2030.
Progress in 2025 Status Planned Actions for 2026 2030 Targets
Continue to promote the full 100% responsible drinking
Incorporation of 3 responsible drinking labels
coverage of responsible drinking messaging through packaging and
on 100% packaging
messaging brand activations
Active communication of the concept of
responsible drinking by actively participating Develop consumer campaigns 100% of our markets run
in the National Responsible Drinking and expand responsible drinking partnerships to support responsible
Awareness Week in cooperation with the partnerships across our markets consumption
China Alcoholic Drinks Association
Continuously develop and launch
Launch of 4 low-alcohol products Company are low-alcohol or
non/low-alcoholic products.
alcohol-free (ABV ≤ 3.5%)
Done
Done Undone
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 40
ZERO Accidents Culture
Ensuring the health and safety of employees is the fundamental PROGRESS TOWARDS ZERO ACCIDENTS We have established a systematic occupational safety risk assessment
prerequisite for a company to achieve sustainable development, and and control system that covers all our positions and operations,
it is also an inviolable core principle in our operations. Guided by a conducting regular dynamic reviews and updates. For identified
ZERO Accidents Culture, we strictly comply with national laws and We continue to build a systematic and scientific safety management occupational safety risks, we implement a tiered and categorized
regulations related to workplace safety across all operational processes, system, achieving routine monitoring and continuous improvement control strategy. For 11 types of high-risk operations, a work permit
and fully implement safety management processes and standards. We of safety management levels through the ongoing refinement of system is strictly enforced, and five core risks, including traffic, working
are committed to creating a safe, healthy and comfortable working our occupational health and safety assessment system. We actively at heights, hazardous energy isolation, mechanical protection, and
environment for our employees. promote the implementation of work safety practices, continuously confined space entry, are included in the Life Saving Rules (LSR) and
optimize emergency response procedures, and enhance the safety subject to mandatory management. For other risks such as chemical
awareness and practical capabilities of all employees. By deeply
OUR STRATEGY integrating a culture of safety into the Company’s daily operations, we
risks, ergonomics risks, cut risks, slip and fall risks, we have developed
special management procedures for continuous mitigation and long-
provide comprehensive support for building a more stable and efficient term control.
We always place the health and safety of our employees and other
work safety environment. In 2025, the Company’s total investment in
stakeholders as top priority. Under the direct leadership of the
workplace safety reached RMB 22,156,000. Update and Upgrade of the SHAPE
President, the VP of Supply Chain leads the integration of the health
Assessment System in 2025
and safety strategy and performance management, and the continuous
improvement of occupational health and safety management system. Management of Change (MOC)
We strictly abide by regulations such as the Law of the People’s
Added change requirements for ammonia refrigeration,
Republic of China on Work Safety and the Law of the People’s Republic
In 2025, the Company’s total investment in CO₂, dust collection, natural gas boilers, and wastewater
of China on Prevention and Control of Occupational Diseases , as well
workplace safety reached and exhaust gas treatment systems.
as the Health and Safety Policy 13 of Carlsberg Group, and formulated
Hazardous Chemicals Management Upgrade
Health and Safety (EH&S) Policy and the Environmental & Updated management requirements in accordance with
RMB
Occupational Health Management Manual , and set the goal for the the latest group standards, clarifying tank hardware
Company to achieve ZERO Lost-Time Accidents by 2030. configurations (previously under “Chemicals Management”).
Equipment and System Compliance
Defined management requirements for special-purpose
OUR ACTION SAFETY ASSESSMENT SYSTEM equipment and fixed toxic gas detectors.
We integrate employee safety and health into every aspect of our Fall and Slips Prevention
daily operations. We continuously strengthen the foundation of In strict accordance with the Carlsberg Operation Manual (COM) Strengthened risk assessment and safe walking behavior
workplace safety through the systematic construction of a work safety standards, we have further updated and upgraded the Safety and management in alignment with the new standards.
management system and occupational health and safety protection Health Assessment Program Excellence (SHAPE) assessment Multi-procedure Clause Updates
measures, to ensure a safe and comfortable working environment. system14 in 2025, building a more comprehensive health, safety, and
Revised clauses related to document control, hand tools,
We are committed to creating a zero-accidents workplace to provide environmental management system. In 2025, the Company achieved
lifting operations, ammonia/water/energy use, and carbon
comprehensive health protection for employees. 100% coverage of SHAPE system audits.
emissions (previously referred to as “Greenhouse Gases”).
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 41
We constantly promote the safety management system certification of SAFETY PRACTICES LINKED TO EMPLOYEE WORK SAFETY PRACTICES
our breweries, and schedule an annual internal audit and a three-year
PERFORMANCE
external audit for 100% of our breweries. As of the end of the reporting
period, all breweries under the Company successfully passed the ISO To systematically advance the construction of a ZERO Accidents To fully implement the ambition of ZERO Accidents Culture, we
Level 3 Safety Production Standardization Certificate. full employee participation. It has clearly defined “ZERO Lost-time enhancing intrinsic safety levels through a series of concrete measures
Accidents” as one of the core performance indicators for managers to create a safer and healthier working environment for employees.
at all levels, and incorporated these indicators into the annual KPI
evaluation system for general managers of each business unit. This
ensures that safety responsibilities are embedded into management
roles. In addition, zero accident performance has become a basic
eligibility criterion for annual awards in sales and supply chain
中认认证有限公司
监督审核合格证书
注册号：27323E20325R1M
functions, further reinforcing the integration of business and safety
嘉士伯重庆啤酒有限公司
经中认认证有限公司技术委员会对审核组提交的监督审
核报告进行评定，认为贵单位：
objectives, implementing the safety accountability system, and
管理体系持续满足
GB/T24001-2016/ISO14001:2015环境管理体系标准
GB/T45001-2020/ISO45001:2018职业健康安全管理体系标准
enhancing managers’ awareness of their safety responsibilities.
运行持续有效，具备保持认证注册资格的条件，认证范围见
认证证书。
经本公司技术委员会审议通过，总经理批准，保持贵单
位在我机构的认证注册资格并继续享有合规使用认证证书和认
The Company adheres to a policy of zero tolerance for concealment
证标志的权利和义务。
of safety incidents., and even for near-miss accidents that do not
(注： 本合格证书需与我机构颁发 的认证证书结合使用 ，本合格证书仅证明该组织相关管理体系经监督
审核合格 。)
特此证明
中认认证有限公司
result in actual losses, it strictly conducts root cause investigations
中认认证有限公司
in accordance with requirements, and implements corresponding risk
control and preventive measures to ensure that all types of risks are
电话：400-025-9001
地址：中国（四川）自由贸易试验区成都高新区天府三街69号1栋29楼2904号
effectively eliminated and managed in a closed-loop manner.
ISO 45001 certification Level 3 Safety Production
remaining valid in 2025 Standardization Certificate In terms of incentive and constraint mechanisms, the Company has
established a special reward and punishment system for health and
safety. Compliance with safety regulations and proactive reporting of
potential hazards are rewarded, and safety observation report rates
are linked to individual and team incentives to encourage employees
to actively pay attention to workplace safety and the behavior of
All breweries under the Company have achieved colleagues. In 2025, each supervisory-level (or above) employee
was required to conduct more than six high-quality safety behavior
certification under the ISO 45001 communications per year.
Occupational Health and Safety Management System.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 42
Workplace Safety Measures
Standardized Management of Personal Protective Equipment (PPE)
The Company has established a comprehensive management system for personal protective equipment, ensuring that
employees in relevant positions are adequately provided with personal protective equipment that meets national standards.
Prominent signage is posted at workstations and area entrances to clearly indicate the requirements for PPE usage. Regular
inspections are conducted to monitor employees’ compliance with PPE wearing regulations. In addition, the proper use
of PPE is incorporated into the Company’s annual safety training program. Through continuous education and practical
exercises, the Company ensures the effective implementation of all occupational health and safety protection measures,
thereby safeguarding employees’ operational safety.
Systematic Workplace Safety Check
The Company attaches great importance to the safety production environment management of our breweries, strictly
enforcing safety standards and effectively advancing daily safety patrols and the rectification of potential hazards. Based
on the health and safety related requirements issued by SPRINT, the Group’s online system, we regularly conduct self-
assessments of safety standards to accurately identify deficiencies and implement targeted improvements. In 2025, the
completion rate of the Group’s safety priority items listed in the SPRINT system reached 100%, covering all breweries,
logistics, and administrative and sales units. Compliance rates for key standards, including the Carlsberg LSR, contractor
management, incident reporting and management, work permit systems, and temporary employee management, also
achieved 100%. To further strengthen on-site risk control, the Company continues to encourage management at all levels to
engage in frontline safety inspections. In 2025, a total of 150,153 on-site safety patrol visits were completed by supervisory-
level employees across the Company.
Improving In-Plant Traffic Safety
Focusing on logistics areas, which are the key zones with concentrated risks, the highest accident rates and severity, we have
actively implemented the advanced “Three-Zone Traffic Division” concept. This approach divides the brewery into pedestrian-
restricted zones, vehicle-restricted zones, and shared pedestrian-vehicle zones, minimizing the scope of shared zones as much
as possible. By applying spatiotemporal isolation measures and active pedestrian-vehicle defense technologies, we aim to
eliminate traffic safety hazards at the source. Currently, the “Three-Zone Traffic Management” has been fully implemented
in the logistics areas of all of our breweries in the China region, significantly improving safety levels in pedestrian-vehicle
interactions within the zone.
Construction of the Safety Training System
To systematically enhance employees’ safety skills and emergency response capabilities, the Company has innovatively
established the EHS Academy training platform, which integrates both theoretical knowledge and hands-on practice.
This system upgrades traditional safety education by incorporating immersive, scenario-based training such as VR safety
simulations, fall protection for working at heights, and operations in confined spaces. Through experiential and interactive
learning methods, the program strengthens employees’ ability to identify and respond to potential risks. It serves as one of
the core initiatives in advancing the Company’s safety culture and achieving the ZERO Accident ambition.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 43
TRAFFIC REORGANIZATION AT LIXIAN BREWERY TO ACHIEVE SPECIAL INITIATIVE TO ADDRESS SLIP AND FALL RISKS AND
Case Case
PEDESTRIAN-VEHICLE SEPARATION CREATE A SAFE WORKING ENVIRONMENT
In response to the Group’s safety management requirements, and with the core objective of reducing In 2025, we launched a targeted safety improvement initiative focusing on key high-risk areas
pedestrian-vehicle interaction risks and enhancing employee safety, Lixian Brewery carried out a prone to slips and falls. These included stairs with inclines over 45 degrees, pattern plates that were
systematic optimization of the original parking layout in the office area. In April 2025, the brewery, not slip-resistant in wet conditions, smooth stainless steel pipes and covers in trenches, as well
in coordination with relevant government departments, initiated a project to relocate the parking as exposed piping on the workshop floor in the brewing area. The corrective measures included
area. The original parking zone in front of the administration building was moved in its entirety to replacing surfaces with slip-resistant materials, installing additional handrails, and covering or
an independent site at the rear of the plant. A physical barrier was installed to effectively separate enclosing exposed piping. Through systematic risk management and infrastructure upgrades, all slip
the parking area from the production zone. Meanwhile, an independent pedestrian walkway was and fall risks associated with these facilities have been fully eliminated. In addition, employee safety
established to ensure complete separation between employee commuting routes and vehicle traffic awareness and on-site safe behaviors have also seen continuous improvement.
paths. The project was successfully completed and put into operation in June 2025, achieving 100%
isolation between the parking area and operational zones, as well as 100% separation between
pedestrian and vehicle routes. The project fully complies with the Group’s “Three-Zone Traffic Division”
safety management standards, and has significantly improved the overall safety level of the brewery.
Before transformation
Results of slip and fall risk mitigation
After transformation
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 44
ESTABLISHMENT OF THE ANHUI
Case BREWERY EHS ACADEMY TO IMPROVE 2025 KPI highlights: Honors in 2025
THE SAFETY TRAINING SYSTEM
On May 22, 2025, under the guidance of the Tianchang
Emergency Administration, Carlsberg Brewery (Anhui) Co.,
Ltd. officially inaugurated its Environment, Health, and 17 breweries have maintained ZERO lost-time accidents for over 5 years “Best Safety Award” by Carlsberg Group and the
Safety (EHS) Academy. After more than six months of 23 breweries have maintained ZERO lost-time accidents for over 3 years “Best Safety Award in Asia” by Carlsberg Asia in 2025
preparation, the establishment of the Academy marks a
new stage in the brewery’s journey towards enhanced safety
consecutive years
management and employee training. Anhui Brewery will
Compared to 2018, the number of lost-time accidents involving all Aksu Brewery was awarded the
use the EHS Academy as a key platform for continuous
employees and contractors across operations, including supply chain, sales
employee development and the promotion of a strong safety “Best Safety Brewery Award”
and administration, decreased by 94%
culture, further supporting the realization of the Company’s
by Carlsberg Group in 2025
vision of ZERO Accidents Culture. 1 non-supply-chain business unit has maintained ZERO lost-time accidents
for over 3 years
accidents for over 2 years
Inauguration ceremony of the EHS Academy IMPROVING THE SECURITY EMERGENCY RESPONSE MECHANISM
We attach great importance to the systematic development of our In the post-incident management phase, the Company adheres to the
emergency management system, and are committed to enhancing the principle of “analysis of every case”, conducting in-depth investigations
speed and effectiveness of responses to emergencies. The Company has and root cause analyses of each incident. We identify areas for
established a closed-loop management system for work-related injury improvement across multiple dimensions, including management
incidents, covering prevention, response, and continuous improvement. mechanisms, operational processes, and employee awareness, and
By improving the quality of the preparation and execution of Job Safety develop targeted occupational health and safety management
Analysis (JSA) and Permit To Work (PTW), we reinforce the foundation optimization plans accordingly. These efforts aim to promote root-
of risk control at the operational front end. In addition, we regularly cause resolution and continuous system improvement, thus effectively
conduct emergency drills and specialized training to enhance employees’ mitigating the risk of future occurrences.
on-site response capabilities, as well as their ability to perform self-rescue
and mutual assistance in the event of an incident. This ensures that
emergency procedures can be swiftly activated following a work-related
injury, maximizing employee safety.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 45
TRAINING A SAFETY-FIRST MINDSET
We attach great importance to the cultivation of a safety culture of all instructors and 137 individuals completed the Train-the-Trainer (TTT) To comprehensively enhance on-site emergency response capabilities,
employees and are committed to systematically enhancing employees’ certification in defensive driving hands-on training, strengthening we continued to improve the MERP (Medical Emergency Response
safety awareness, risk prevention capabilities, and emergency response the training capacity in high-risk operation areas. Throughout the Process) of all our breweries, equipped all our breweries and major
skills. Based on national regulations and the characteristics of different year, a total of 10 focused training sessions were conducted for the administrative offices with Automated External Defibrillators (AEDs),
posts, we have established a comprehensive safety production Commercial and Supply Chain functions, centered on life safety rules and conducted first aid responder certification training with American
training system covering 28 core courses, including hazardous waste and requirements for high-risk operations. These sessions covered 4,380 Heart Association to further improve the self-rescue and mutual
management, chemical storage, and machinery protection. We supply chain-related employees, 2,880 sales and marketing personnel, assistance ability of employees in emergency situations such as cardiac
continue to advance the standardization and digitalization of training and 1,884 promoters. In addition, relevant departments within the arrest, and support the establishment of a three-dimensional health
management. supply chain conducted safety training and refresher courses through and safety protection system integrating “prevention – response –
a matrix of 28 training modules, with a total of 57,909 participants, rescue”.
We place great emphasis on cultivating internal training capabilities. In and systematically verified the effectiveness of the training and the
COLLABORATING WITH THE RED CROSS TO CONDUCT FIRST AID
Case Case CONDUCTING SAFETY DRILLS TO BUILD A ZERO ACCIDENTS CULTURE
TRAINING AND ENHANCE EMERGENCY RESPONSE CAPABILITIES
In 2025, Tianmuhu Brewery, in collaboration with the Liyang Red Cross, conducted a specialized The Company treats emergency drills as a key initiative to enhance safety management capabilities.
first aid training program. The program systematically covered four core areas: Cardiopulmonary For several consecutive years, we have consistently conducted specialized drills covering scenarios
Resuscitation (CPR), Automated External Defibrillator (AED) operation, Heimlich maneuver, and such as ammonia leaks, confined space operations, and fire emergencies, ensuring full participation
trauma care. This initiative effectively enhanced employees’ emergency response capabilities. across all levels of employees. These drills have played a vital role in transforming employees’ safety
mindset, which steadily shifted from “compliance” to “commitment”.
Going forward, we will continue to strengthen emergency preparedness through drills. By
continuously refining emergency plans and improving the allocation of rescue resources, we aim to
shift from simulated exercises to real-world readiness. We will gradually build a safety community
where employees look out for one another and share a collective sense of responsibility.
On-site first aid training conducted by the Red Cross Safety drills
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 46
ZERO Accidents Culture
DEEPENING THE ZERO ACCIDENTS
CULTURE AND ACHIEVING THE
BREWERY’S ZERO ACCIDENT
SAFETY MILESTONE
The Company embraces the ZERO Accidents Culture as the most
fundamental commitment to every employee, and continues to promote
the building of a rigorous safety culture. On December 12—an important
milestone in deepening our safety culture, we have held All-Staff Safety
Day activities for 15 years in a row. The Company has established an
intelligent monitoring system and a closed-loop management mechanism,
incorporated safety performance into the management evaluation
accountability framework, and implemented safety responsibilities at all
organizational levels.
In 2025, all of the 27 breweries of Chongqing Brewery achieved the goal
of zero lost-time accidents, of which eight maintained zero lost-time
accidents for over 10 years. Aksu Brewery, in particular, has maintained
an incident-free safety record for over 13 years, earning it the “Best Safety
Brewery Award” by Carlsberg Group in 2025. In recognition of systematic
practices and outstanding achievements in safety management,
Chongqing Brewery was awarded the “Best Safety Award” and the “Best
Safety Award in Asia” by Carlsberg Group in 2025.
We encourage every employee make safety a natural behavioral habit.
ZERO Accidents has now evolved from a goal into a shared code of
conduct embraced by all employees. In daily work, employees proactively
carry out safety observations and report potential hazards to integrate
safety into decisions and actions. The journey towards safety has no end.
Chongqing Brewery will continue to deepen its people-oriented ZERO
Accidents Culture and protect every team member. The fifteen years of
continuous efforts demonstrate the Company’s long-term commitment to
the health and safety of its employees. Zero accidents is not just today.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 47
OCCUPATIONAL HEALTH AND SAFETY CONDUCTING HEALTH TRAININGS AND WORKPLACE SAFETY ACCIDENT RESPONSE
CAPACITY BUILDING AND SYSTEM IMPROVEMENT
We consistently place the occupational health and safety of employees We offer a comprehensive range of health training programs to We continue to enhance our safety accident response mechanisms
and contractors at the core of our priorities. Through a systematic employees, including first aid skills, basic safety knowledge, seasonal and management systems, strengthening risk prevention and control.
management system and a continuous improvement mechanism, we disease prevention, management of work-related musculoskeletal In 2025, the number of lost-time accidents of employees, including
comprehensively enhance occupational health and safety performance, disorders, and health maintenance. We also conduct hands-on drills those involving employees and contractors, decreased to just one case,
and are committed to creating a safe and healthy working to improve employees’ self-care and health protection capabilities. In representing a 94% reduction compared to 2018. In response to the
environment for all personnel. 2025, the training framework was further expanded to include mental single safety accident that occurred during the year, we immediately
health awareness and heat stress prevention, supporting employees in launched a targeted investigation, organized thematic communication
developing a stronger sense of health consciousness and encouraging and training sessions, and optimized related processes, further
COMPREHENSIVE HEALTH SURVEILLANCE AND the adoption of healthy lifestyles. During the year, we achieved a enhancing overall safety performance and reinforcing the long-term
MEDICAL EXAMINATION PROGRAM FOR ALL 100% coverage rate for occupational health and safety training among mechanism for safe production.
employees.
EMPLOYEES
Based on risk types of occupational exposure required for personnel in Accidents in 2025
different positions, we clarify the occupational health check-up items
that personnel in each position need to undergo, conduct pre-job, on- During the year, we achieved a
job, post transfer and off-job occupational health examinations for Indicators Unit 2025 data
employees in positions exposed to occupational hazards throughout
coverage rate for occupational health Number of lost-time accidents
their employment cycle, and provide benefits such as preemployment / 1
of employees
and annual physical exams for all employees. In 2025, the employee and safety training among employees.
Number of employee fatal
health examination coverage rate reached 100%. We regularly review / 0
accidents
and update the PPE allocation matrix based on job-specific risk levels,
Number of lost-time accidents
ensuring that PPE is issued according to needs and used correctly. / 0
of contractors
Through the occupational health and safety management system, we
INTEGRATED CONTRACTOR SAFETY Number of contractor fatal
ensure that 100% of employees receive health suitability assessments, / 0
accidents
fully complying with national regulatory requirements. MANAGEMENT
We incorporate contractor occupational health and safety into a unified Security Investment in 2025
MONITORING OCCUPATIONAL HAZARDS AND management framework. Through tools such as EHS assessment
CONTROLLING AT SOURCE questionnaires and performance evaluation checklists, we conduct
Indicators Unit 2025 data
a comprehensive review of contractors’ qualifications, management
We continue to enhance the dynamic monitoring and quantitative systems, and implementation of safety measures. We conduct at least Work-related injury insurance
RMB 10,000 547.27
assessment of occupational hazard factors in the workplace to one health and safety performance assessment annually for long-term premium
systematically identify high-risk positions and associated hazard cooperative contractors or upon completion of key projects, and define Work-related injury insurance
% 100
factors, and develop targeted engineering controls and personal entry-level standards in key areas including personnel competency, coverage
protection measures. By establishing a closed-loop mechanism of tools and equipment, and personal protection measures, with the aim Safety production liability
RMB 10,000 92.4
“monitoring – early warning – intervention”, we effectively prevent the of continuously enhancing alignment and collaboration efficiency insurance premium
occurrence of occupational diseases and gradually reduce the risk of between contractors and the Company’s EHS requirements. Safety production liability
% 100
occupational hazards. insurance coverage
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 48
OUR TARGETS & PROGRESS
We have developed a systematic target tracking and improvement mechanism to monitor the progress towards our goals and identify where special
improvement actions are needed. In 2025, we promoted strengthening the work safety culture and implementing occupational health and safety
measures to contribute to the goal of ZERO Lost-Time Accidents by 2030.
Progress in 2025 Status Planned Actions for 2026 2030 Targets
Continue to improve occupational
ISO 45001 occupational health and safety
health and safety management
management system certification for all our
systems and conduct internal and
breweries
external audits on a regular basis
Participation in EHS training courses by
Achieve high quality safety training
a total of 302 managers and engineers
for all employees
nationwide ZERO lost-time accidents
Continuous elimination of
potential security risks
supervisory-level staff at breweries
nationwide
Equip employees with protective
equipment and continue to
upgrade safety facilities and
equipment
In 2025, the number of lost-time accidents
involving employees and contractors was
one, down 94% from 2018
Done
Done Undone
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 50
EMISSIONS MANAGEMENT
reports. Based on the assessment results, we have developed 13
internal management procedures, including Environmental Compliance ,
and the Energy and Water Consumption and Reduction , to strengthen
The Company strictly complies with the Environmental Protection environmental impact control.
In 2025, the Company had
Law of the People’s Republic of China , the Water Pollution Prevention
Meanwhile, we have developed the Emergency Response Plan for
No
and Control Law of the People’s Republic of China , the Atmospheric
Sudden Environmental Incidents , which clarifies the emergency
Pollution Prevention and Control Law of the People’s Republic of any accidents involving major administrative
command system and responsibilities, prevention and early warning
China , the Law of the People’s Republic of China on Noise Pollution
mechanisms, emergency response and disposal, and post-incident penalties or criminal liabilities due to pollutant discharge
Prevention and Control , the Law of the People’s Republic of China
management. We also conduct surveys on environmental emergency
on the Prevention and Control of Environment Pollution Caused
resources, produce reports and provide improvement suggestions
by Solid Wastes and other laws and regulations, and manages the
to enhance the quality of the environmental emergency plan and
discharge of various pollutants in accordance with the law. We fully
No No
emergency response capacity. In addition, the Company regularly
implement the Environmental Policy applicable to management,
carries out emergency drills for sudden environmental incidents,
employees, contractors, visitors, and personnel and institutions major sudden excessive
and optimizes the emergency response plan based on drill results
related to external workplaces, and we are committed to continuously
and actual conditions to continuously strengthen environmental risk environmental incidents occured emissions
improving our environmental management performance. In line with
response capabilities.
the Company’s strategy, vision and relevant objectives, we promote
the effective implementation of policy requirements through internal In 2025, the Company set a target of 100% environmental
communication, and continuously maintain certified environmental management compliance, managed internally through Environmental
management systems to prevent and control potential environmental Compliance Rate (ECR) audits. During the year, the Company achieved
impacts arising from our business activities. its environmental compliance target. No major administrative penalties of our breweries have passed the ISO 14001
or criminal liabilities were imposed due to pollutant discharge; no
The Company continuously optimizes the treatment processes for environmental management system certification
major sudden environmental incidents occurred; and no non-compliant
waste gas, wastewater and solid waste to reduce the impact of waste
discharges were recorded. All of our breweries have passed the ISO
gas, wastewater, waste and noise on the surrounding environment.
We regularly carry out environmental impact assessments, and issue
ISO 14001 Environmental Management System Certification ISO 50001 Energy Management
System Certification
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 51
WASTEWATER MANAGEMENT
Based on the goal of ZERO Water Waste, the Company continues to
strengthen its wastewater management, and strictly follows the Law RESOURCE UTILIZATION OF BREWERY WASTEWATER – A NEW WATER TREATMENT
Case
of the People’s Republic of China on Prevention and Control of Water PATH AT LIXIAN BREWERY
Pollution , the Discharge Standard of Pollutants for the Beer Industry ,
and other relevant regulations and standards to implement full-process Lixian Brewery has long been committed to the efficient use of water resources and has continuously explored models for the resource
control over wastewater treatment. We cooperate with professional utilization of brewery wastewater. In 2025, the brewery signed a cooperation agreement with the Lixian Wastewater Treatment Plant in
third-party institutions. Each brewery is equipped with stable Changde City, Hunan Province. Brewery production wastewater treated by anaerobic pre-treatment is connected to the sewage pipe network
wastewater treatment facilities and installed with online automatic for centralized treatment and converted into high-quality carbon sources for the wastewater treatment plant, supporting regional green
monitoring devices to conduct real-time monitoring of key discharge production and resource recycling.
indicators, ensuring stable and compliant wastewater discharge. In
discharge. (COD) concentration often reaching 3,000–5,000 mg/L, making it far more difficult to treat than ordinary industrial wastewater. To
improve treatment efficiency, the brewery established a dedicated team and conducted 23 technical meetings with local authorities and
Meanwhile, the Company continues to advance reclaimed water reuse the wastewater treatment plant within three months, finally formulating the implementation plan of “Anaerobic Pre-treatment + Pipeline
projects. Through advanced Chemical Oxygen Demand treatments Network Conveyance”. With the newly added anaerobic equipment, over 80% of degradable organic matter in brewery wastewater is
for odor and suspended solids in wastewater, we have improved converted into recoverable methane. The remaining carbon-rich wastewater enters the municipal system as a high-quality carbon source for
the quality of reclaimed water and reduced the pollution load. In municipal wastewater treatment, achieving collaborative emissions reductions across the industry chain.
addition, the Company transports wastewater to sewage treatment
plants for collaborative treatment and utilization, which not only
realizes wastewater resource utilization but also reduces the energy
consumption of brewery wastewater treatment, achieving synergistic
efficiency gains between breweries and sewage treatment plants. As
of 2025, the Company had implemented beer wastewater resource
utilization projects at eight breweries.
Types of Pollutants in Wastewater and Related Data in 2025
Type Unit Data of 2025
Ammonia tons 19.74
Total phosphorous tons 4.00
Suspended solids tons 53.96
COD of raw sewage from per
kg/hl 0.31
hectoliter of beer produced
Amount of sewage from per
hl/hl 0.97
hectoliter of beer produced
Average COD of raw sewage g/m 3,252.40 Lixian Brewery
Total sewage discharge m 2,775,533.99
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 52
SOLID WASTE MANAGEMENT
The Company strictly complies with the Law of the People’s Republic of sufficient quantity accumulates, it is entrusted to qualified third parties for Solid Waste Discharge in 2025
China on the Prevention and Control of Environment Pollution Caused by compliant disposal. Meanwhile, the Company establishes ledgers for the
Solid Wastes and other laws and regulations related to waste management. generation, transfer and disposal of hazardous waste, realizing full-process Type Unit Data of 2025
All breweries implement local waste management and waste classification traceable management. In 2025, the Company adopted hazardous waste
requirements, prioritize source reduction, strictly prohibit improper discarding containers to further enhance the standardization of hazardous waste Total amount of hazardous
tons 91.25
and uncontrolled disposal, and continuously improve the processes for storage and transportation. During the year, the Company’s hazardous waste discharge
classified collection, storage and disposal of waste. waste compliance disposal rate reached 100%.
Hazardous waste discharge t/RMB 10,000 in
density revenue
For non-hazardous waste, the Company implements strict classified In the reporting period, 100% of the waste generated from brewery production,
management, with fixed-point and regular collection and transportation as including waste cartons, waste pallets, waste plastic boxes, waste woven bags and Total amount of non-
tons 107,491.80
required, to maximize the recovery of renewable resources. For hazardous waste plastic drums, was sent to qualified local third-party recyclers for recovery hazardous waste discharge
waste, the Company systematically defines the scope of collection, and reuse. This promotes circular utilization, reduces environmental impacts from
Non-hazardous waste t/RMB 10,000 in
conducts standardized sorting, collection and transfer by category, and landfilling and incineration, and supports the development of local community 0.07
discharge density revenue
stores such waste in designated hazardous waste warehouses. When a small and medium-sized recyclers.
Case SANSHUI PRODUCTION BASE IN FOSHAN PIONEERS A NEW MODEL OF GREEN DEVELOPMENT THROUGH “ZERO-WASTE” INNOVATION
Sanshui production base in Foshan has become a benchmark for the
construction of “ZERO-Waste Plants” in Foshan City with its full-chain
ZERO-waste management model, contributing replicable practical
experience to the development of a “ZERO-Waste City”. Foshan
Brewery integrates the “ZERO-waste” concept into the entire process
of plant planning, construction and operation. Through intelligent
collaboration between buildings and production systems, it achieves
efficient resource utilization and reduces waste generation at the
source.
To ensure the effective operation of the waste management system, the
brewery has established an environmental protection training system
covering the entire lifecycle of employees. New employees receive pre-
job training on solid waste classification, compliant hazardous waste
disposal and environmental protection standards. Subsequent annual
refresher training, special training and on-site drills are conducted
to continuously strengthen all staff’s environmental awareness and
operational skills, turning waste management requirements from
institutional provisions into daily practices, and ensuring the stable
Sanshui production base in Foshan
operation and continuous improvement of “ZERO-waste” initiatives.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 53
WASTE GAS MANAGEMENT NOISE MANAGEMENT
The Company strictly complies with the Atmospheric Pollution The Company strictly abides by the Law of the People’s Republic of
Prevention and Control Law of the People’s Republic of China and other China on Noise Pollution Prevention and Control and other relevant
laws and regulations concerning waste gas management, ensuring that laws and regulations, and has formulated and implemented internal
all waste gas emissions meet national and local standards. We carry systems such as the Noise Control and Hearing Protection Procedure .
out standardized collection and treatment of odorous gases emitted Following the management philosophy of “source control, process
in a controlled manner from the sewage treatment station, ensuring management, and personnel protection” for noise abatement, the
stable and compliant treatment of waste gas and are continuously Company has continuously strengthened noise pollution prevention
improving our waste gas management. In 2025, the Company achieved and control. By conducting regular noise monitoring at the factory
a 100% compliance rate for waste gas emissions. In addition, we boundary, promoting equipment renovation and maintenance, and
actively explore the recovery and reuse of waste gas in the production improving sound insulation and isolation measures, the potential
process, achieving emissions reduction and efficiency enhancement impact of noise on employees’ health and the surrounding community
through resource utilization. Taking Wusu Brewery as an example, the has been reduced. Meanwhile, the Company has carried out special
brewery collects, purifies and reuses carbon dioxide generated during noise reduction research on the packaging process, sorted out the
the fermentation process. It is estimated that approximately 5,930 tons sources and transmission paths of noise, formulated and implemented
of carbon dioxide are recovered annually, realizing effective recycling of targeted control schemes, and improved the overall effectiveness of
process waste gas. noise control starting from key noise sources.
Types of Pollutants in Waste Gas and
Related Data in 2025
Black smoke (dust)
SOx
NOx
Unit: tons
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 54
PRODUCTS AND SERVICES
The Company always regards providing consumers with high- Management Manual , Factory Quality Monitoring Plan , and Production
quality products and services as the core driving force of enterprise Line Self-inspection Requirements & SOP for Brews Quality Testing
development. Through systematic quality management and continuous to provide standardized guidelines for product quality standards. We
service optimization, we are committed to providing consumers with also require our breweries to conduct annual quality COM compliance
safe, reliable, high-quality products. Guided by customer needs, we audits to ensure continuous alignment with internal specifications and
continuously optimize our quality control mechanism, refine customer external standards. From 2018 to 2025, the Company and its breweries
feedback and response processes, and strengthen the foundation of all passed the annual quality COM compliance audits. As of the end
brand trust, thereby creating long-term value for customers. of the reporting period, the Company and its breweries all passed the
ISO 9001 quality management system certification and the HACCP
certification.
PRODUCT QUALITY ASSURANCE
We implement a sophisticated quality management system that
covers the entire production process, from manufacturing and storage
The Company established a systematic quality management to logistics, sales, and after-sales. Each brewery implements product
framework, with the Carlsberg Operation Manual (COM) formulated quality and safety traceability management procedures, ensuring full-
with reference to the FSSC 22000 Food Safety System Certification and process traceability from raw material intake to product shipment.
the Hazard Analysis and Critical Control Point (HACCP), we developed At least one traceability drill is conducted annually to verify the
and implemented quality management systems such as the Quality effectiveness of the traceability system.
Quality and security system certification
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 55
CONDUCTING PRODUCT QUALITY TESTING
We always regard product quality as the cornerstone of corporate 2025 Performance Highlights
development, adhere to the quality management principle of “high
standards, full-process control, and traceability”, and have established
a comprehensive quality assurance system. We strictly implement the
In 2025, the center conducted sampling In 2025, 25 breweries sent In 2025, 25 breweries sent a total of
Standard Operating Procedures for Brews Quality Testing , and conduct
inspection of beers from 25 breweries. All
comprehensive inspections on incoming raw and auxiliary materials,
of the
production process and finished products to ensure product quality is in
batches of products for units for
line with high quality standards.
external inspections, sampling inspections,
The Company upholds the “Zero Defects” quality management batches of products sampled
philosophy, aiming to “provide consumers with a safe and high-quality passed with a and regulators randomly selected another achieving full coverage of each
product experience”, and has built a whole-chain quality assurance production batch. The sampling
system. We continuously strengthen a dual assurance mechanism that inspection pass rate was
combines internal quality testing with external verification, establishing qualification rate. batches on site for testing.
a brewery quality monitoring plan covering risk points including
physicochemical, encapsulation, and microbiological aspects. Through
The results of the inspections showed that
our central testing center, we conduct quarterly sampling inspections of
products from each production brewery, reinforcing our internal quality
defense.
of our products met the
Building on this foundation, we have established comprehensive required standards.
quality control points covering the entire process from raw material
procurement to product shipment, achieving full-process risk
management. In addition, referencing advanced international
standards, we have developed an internal control system that sets
requirements stricter than national standards, ensuring product quality
stability and consistency. Through a closed-loop management system
of “mechanism assurance – process control – standard support”, we
systematically enhance quality control effectiveness and consolidate
the foundation of product safety and quality.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 56
ORGANISING BEER TESTINGS PRODUCT RECALL MECHANISM
We consistently regard stable and unique taste and flavors as core elements of product quality. Through the The Company has established systematic Product Recall (Withdrawal) Management Procedures , which clearly
establishment of professional and systematic sensory evaluation mechanism, we ensure the consistency of define the initiation criteria, command processes, and response mechanisms for various recall scenarios,
product flavor characteristics and continuously meet consumer expectations. We have established a Beer enabling rapid response and effective control in the event of product quality risks. We require all distilleries to
Tasting Center composed of sommeliers, which is responsible for conducting monthly taste evaluations of our conduct at least one mock product recall drill each year, simulating different risk scenarios to test traceability
products from the breweries nationwide. Leveraging internationally recognized beer sensory quality evaluation efficiency, communication mechanisms, and emergency coordination capabilities, thereby continuously
standards, we have built a full-process taste and flavor monitoring system covering raw materials, semi-finished improving the feasibility and execution efficiency of the recall process. In 2025, the Company’s product quality
products, and finished products. management system operated stably, and there were no product recalls due to food safety or product quality
defects.
In 2025, the Beer Tasting Center organized qualified sommeliers to conduct systematic taste evaluations on
products from 25 breweries on a monthly basis. We have completed the taste evaluation of 599 beer samples
with a 100% pass rate. PRODUCT RECALL MANAGEMENT PROCEDURE AND DRILL:
Case
MITIGATING QUALITY RISKS
Tasting Evaluation Indicators and Performance
The Company initiated the product recall mock drill through a dedicated kick-off meeting and
Indicator 2025 Result Description
developed a clear implementation plan. During the drill, the ERP system was used to enable full
the products subject to recall on site. Ultimately, all relevant products were safely returned to the
Under stricter internal control standards, the vast majority of
products were rated as “Satisfactory” or above
traceability, recall, and disposal.
Average Taste Evaluation
Score-China Region
LEADING THE DEVELOPMENT OF SOMMELIER CULTIVATION SYSTEM
Case AND DRIVING CONTINUOUS IMPROVEMENT OF INDUSTRY QUALITY
STANDARDS
In the 2025 election for the members of the 8th
Chinese National Beer Tasting Committee, the
Company, as a supporting organization, nominated
Recall drill kick-off meeting
a record for the highest number of participants
from a single enterprise. Through three consecutive
years of training collaboration with the industry
association, the Company has cultivated over
specialized talent to the industry. Through sustained
The 2025 election of the 8th Chinese National Beer
technical investment and end-to-end quality closed- Tasting Committee members
loop management, we have further consolidated
the Company’s quality leadership position in both Simulated on-site inventory count and
Tracing product distribution through EPR
domestic and international beer markets. detention of recalled products
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 57
PRODUCT QUALITY TRAINING
The Company integrates the cultivation of a quality and safety
culture into its core corporate development strategy. By establishing a Case SPECIAL TRAINING SESSION ON QUALITY TO ENHANCE QUALITY AWARENESS
differentiated training system covering all employees and positions, the
Company embeds product quality and safety concepts into all aspects
of employee orientation, pre-job, and on-the-job training, ensuring that In May 2025, the Company organized a two-day special training session at Ningxia Brewery, covering quality managers and supervisors
every employee possesses the necessary awareness and capability to from 25 breweries. The training covered topics including quality incident management, food safety and quality laws and regulations, tasting
fulfill their quality and safety responsibilities. evaluation improvement methods, HACCP planning procedures, and process-based auditing, effectively enhancing participants’ professional
skills and system auditing capabilities in the field of quality and food safety management.
For our quality management personnel, we focused on delivering
training sessions on FSSC 22000 food safety management system
certification standards, strengthening their capabilities in food safety
auditing and system maintenance, and ensuring that the management
system continues to meet the standards recognized by the Global Food
Safety Initiative (GFSI). For our production employees, we regularly
organize training sessions on quality and food safety systems, COM
compliance, as well as process quality control, and reinforcing the
standardized execution capabilities of frontline operators.
At the brewery level, the quality departments of each brewery regularly
organize training sessions on the quality and food safety system,
Carlsberg quality COM requirements, and process quality control,
ensuring that quality and safety management requirements are
implemented throughout all production processes.
At the supplier level, to ensure that the product quality of core suppliers
consistently meets the Company’s stringent standards, the Company 2025 National Quality Workshop
conducts periodic production process quality audits for suppliers with
significant quality impact. During on-site audits, the team provides
targeted communication and special training on product quality and
food safety standards based on actual conditions.
In 2025,
the Company’s 25 breweries completed a total of reaching achieving
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 58
DELIVERING HIGH-QUALITY SERVICES
We consistently uphold a customer-centric service philosophy. We BOOSTING SERVICE EXPERIENCE
are committed to establishing efficient and transparent customer
communication and feedback mechanisms, improving complaint
We consistently regard the enhancement of our customer service experience as a core component of brand building, systematically deepening
handling procedures, and relying on professional teams to ensure that
emotional connections with consumers through four key dimensions: digital platform development, membership system optimization,
customer concerns are promptly responded to and effectively resolved.
scenario-based marketing, and product innovation. In 2025, the Company continuously strengthened brand influence and customer loyalty,
We strive to constantly optimize the quality of our services, effectively
building a more resilient market competitiveness through initiatives including instant retail strategy upgrading, member interaction mechanism
safeguard customer rights and interests, and improve customer
optimization, immersive experience scenario creation, and premium product matrix expansion.
satisfaction.
We deepened strategic partnerships with mainstream e-commerce platforms such as JD and Douyin,
EFFICIENTLY RESPONDING TO CONCERNS focusing on storytelling-based communication and experiential sharing of premium new products to attract
high-value consumer segments. This approach aims to drive content-driven e-commerce toward a transition
To understand customer needs in a timely and accurate manner, we from sales growth to value creation. By optimizing product displays in Meituan's liquor specialty stores and
provide multiple feedback channels including phone, WeChat, and Expand online sales lightning warehouses, as well as co-investing with Taobao Flash Shopping to establish flagship brand stores,
email, ensuring that customers can conveniently raise opinions and platforms we have accelerated the growth of instant retail and enhanced delivery efficiency to improve the overall
requirements. At the institution level, we have formulated the Customer consumer experience.
and Consumer Complaint Handling Procedures and Factory Complaint
Handling Procedures to clarify the standard requirements for the
Leveraging the “one QR code for one product + Mini Program” technical architecture, we built an efficient
definition, classification and evaluation of complaints, providing a
and flexible member system that supports rapid iteration to adapt to market changes. In 2025, the Company
basis for standardized and systematic complaint handling. In addition,
continuously promoted member engagement campaigns via channels including the brand’s official WeChat
for critical customer requests, we arrange professional telephone
account, offline materials, and official Weibo account, encouraging users to scan codes and interact through
interviews to ensure that feedback is accurately transmitted to the Improve member
points-based rewards and red packet incentives. Within the Douyin ecosystem, we strengthened member
relevant departments of the Company. Our goal is to continuously interaction experience
stickiness and repurchase intention through a “content–media–shelves” collaboration mechanism.
improve the quality of our products and services. In 2025, we received
We integrated brand culture into diverse offline scenarios to deliver immersive interactive experiences. In
For different types of concerns, we have established special procedures
to handle them and developed targeted solutions to respond. We
as Taikoo Li Chengdu. The music festivals co-hosted by Tuborg and Galaxy Left Bank Music IP in Chongqing
have set up a collaborative control mechanism involving quality
and Guiyang attracted 200,000 attendees. Kronenbourg 1664, in collaboration with brand ambassador
management departments of both the headquarters and related
Create an immersive Wu Lei, launched the “Blues Lounge” event. Additionally, initiatives such as the late-night meal set in
breweries to establish a closed-loop mechanism featuring “breweries
consumer experience partnership with KFC and the Chongqing University Basketball League sports marketing further expanded
implementing corrective actions, headquarters analyzing and tracking
the boundaries of brand experience.
progress”, continuously improving product quality and customer
satisfaction.
Through customized packages designed for festivals, art crossover collaborations, and seasonal new product
launches, we bring consumers continuous surprise experiences. In 2025, the Company introduced nearly 30
new products and dozens of new packaging designs. Meanwhile, the launch of non-beer categories, such as
Create surprise Tianshan Fresh Fruit Garden Orange Soda and “Dianchi” energy drink, further enriched consumption choices,
experience strengthened brand freshness, and enhanced market awareness.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 59
JING-A BREWING CO. CROSSES OVER WITH DIVERSE CULINARY IN PARTNERSHIP WITH GUANGSHUNXING TO EXPAND PREMIUM
Case Case
BRANDS TO DRIVE PRODUCT-SCENARIO INTEGRATION CANTONESE CUISINE DINING SCENARIOS
Jing-A Brewing Co., a craft beer brand under Chongqing Brewery, actively expanded cross-sector Ch o n g q i n g B rewe r y s i g n e d a s t ra te g i c
collaboration by partnering with food and beverage brands of different styles, continuously advancing cooperation agreement with “Guangshunxing”,
the deep integration of craft beer with diverse culinary cultures. In 2025, Jing-A successively a national chain Cantonese cuisine brand, to
collaborated with regionally distinctive dining brands—including “Slow Walk”, a Japanese-style advance in-depth food and beverage channel
izakaya in Beijing, and “Osteria delle Handmade Noodle”, a creative noodle restaurant in Guangzhou, collaboration tailored to Cantonese dining
launching customized themed set menus and limited-edition dining experiences. By precisely pairing scenarios, covering brands including Carlsberg,
Jing-A’s signature craft beers with the creative dishes of its partners, the brand strengthened flavor Tuborg, Kronenbourg 1664, Wusu, and Jing-A
synergy and drove consumption scenario innovation. Brewing Co. Through initiatives such as brand
ambassador IPs, customized set menus,
seasonal menus, and co-branded marketing,
the two parties aim to create beer experiences
spanning multiple scenarios including main
meals, late-night dining, and social gatherings,
integrating brand characteristics into the
Cantonese cuisine dining context to strengthen
consumer experience. Signing ceremony of strategic cooperation
agreement
Jing-A’s cooperation with “Slow Walk” and “Osteria delle Handmade Noodle”
DEEP ENGAGEMENT IN MARATHON EVENTS TO SUPPORT SPORTS WUSU BEER FESTIVAL IGNITES TACHENG, SHOWCASING WUSU
Case Case
INDUSTRY DEVELOPMENT CULTURE
The Company continuously advanced its On July 18, 2025, the Tacheng Wusu Beer
long-term strategy of supporting local sports Festival opened at Jiulianquan Square in
development through deep participation in Wusu City. Wusu Brewery injected vibrant
marathon events across multiple cities. In energy into this summer celebration through
Marathon and the Chongqing Marathon. tasting + brand roadshow”. Wusu Brewery
Using the marathon as a connection point, it provided approximately 30 tons of fresh beer
linked sportsmanship with regional sentiment free of charge, inviting visitors from across
through in-depth scenario-based operations, the country to “drink Wusu to the full and
enhancing both the event atmosphere and savor Xinjiang”, jointly contributing to the Beer
runner experience, while driving the long- Festival’s role as an important platform for
term coordinated development of the sports Chongqing Brewery’s support for the 2025 showcasing regional culture and promoting the Opening ceremony of the 2025 Xinjiang Tacheng
Chongqing Marathon Wusu Beer Festival
industry and local cultural tourism. **integrated development of cultural tourism.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 60
DIVERSITY, EQUITY AND INCLUSION
Employees are the driving force for the Company to achieve sustainable Diversity, Equity and Inclusion (DEI )17
development. We have always regarded diversity, equity and inclusion
as our core corporate values, and are committed to fostering a work
The Company is guided by a clear DEI roadmap, continuously fostering Supported by systematic initiatives, our efforts in DEI have consistently
environment that respects individual differences and encourages diverse
an open and inclusive workplace where every employee can reach been recognized by external bodies. We have received the “Belonging
expression, ensuring that all employees have equitable access to
their full potential and access equal opportunities for growth. In 2025, Awards” by the Employer Branding Institute, a globally renowned
growth and development opportunities.
we officially joined the Women’s Empowerment Principles (WEPs) authority in employer brand research, for three consecutive years.
created by the UN Women as a global signatory, committing to
advancing gender equality across our operations and increasing female
EMPLOYEES RESPECTING AND representation in leadership roles.
BLENDING
Case Fostering an Open and Inclusive Culture as a Global Signatory of the WEPs
We strictly adhere to the Group’s Human Rights Policy 15, the Diversity,
Equity, and Inclusion Policy 16, and the Labor Rights Policy , among other
policies. In 2025, we updated internal management systems, including The Company officially became a global signatory of the Women’s Empowerment Principles (WEPs) created by the UN Women18 on March
the Diversity and Inclusion Policy and the Recruitment Handbook , to 3, 2025. With a clear DEI roadmap, we are committed to creating an environment where every employee can display their talents and feel a
strengthen institutional support for fostering an equitable and inclusive sense of belonging and personal value in their work. The Company continuously optimizes management mechanisms by actively cultivating
organizational culture. an open and inclusive working atmosphere, driving employee engagement and innovation, and constantly improving organizational
effectiveness to support both talent growth and sustainable development.
In recruitment and talent selection, we uphold values alignment and
performance as core criteria, firmly opposing discrimination based
on race, religion, gender, age, nationality, marital status, physical The seven WEPs are:
condition, sexual orientation or any other irrelevant factors.
In employer brand development, the Company centers on the value ● Establish high-level corporate leadership for gender equality;
proposition of “Something’s Brewing”, showcasing our inclusive talent
● Treat all women and men fairly at work – respect and support human
philosophy through multiple channels to attract outstanding individuals
rights and nondiscrimination;
from diverse backgrounds.
● Ensure the health, safety and well-being of all women and men
workers;
● Promote education, training and professional development for women;
english_june2025_final.pdf
● Implement enterprise development, supply chain and marketing
practices that empower women;
● Measure and publicly report on progress to achieve gender equality;
businesses to promote gender equality and empower women in the workplace,
marketplace, and community.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 61
HOSTING “FEMALE RECRUITMENT DIVERSE RECRUITMENT
Case MONTH” TO PROMOTE WORKPLACE
EQUAL OPPORTUNITIES
The Company views the diversity and inclusiveness of its talent pool loop management process. At the same time, we proactively monitor
as a core driver of sustainable development. Through systematic social media sentiment around recruitment topics to ensure timely
Chongqing Brewery continues to host the “Female
recruitment strategies and expanded channels, we actively attract, responses to external voices. In 2025, the Company was honored with
Recruitment Month” initiative, with the aim of empowering
select, and develop talent with diverse backgrounds and professional the “Employer Branding Creativity Awards Best Innovative Recruitment
women’s career development through systematic female
competencies. This year, we further established and implemented our Award” in recognition of our exceptional practice, reflecting our strong
talent recruitment, focusing on equal opportunities for
two-way feedback mechanism, automatically sending anonymous commitment to social responsibility and inclusive growth.
female candidates in the workplace, and reinforcing the
surveys to candidates to collect feedback on their interview
organization’s internal DEI culture. In March 2025, the
experiences. Negative feedback has been addressed through a closed-
“Female Recruitment Month” took place as scheduled,
achieving over 85,000 impressions across major social media
platforms including WeChat Official Account and Rednote.
Cooperation with colleges and universities Female recruitment
We have established collaboration mechanisms with multiple colleges The Company organizes targeted initiatives such as the “Female
and universities. Through initiatives such as resume guidance, career Recruitment Month” and public welfare livestreaming to focus on
counseling, sponsored events, and internship base building, we provide women’s employment opportunities. We also offer tailored care
students with comprehensive support for their career growth. In policies for female employees who have childcare or family caregiving
intelligent queueing interview system to enhance recruitment efficiency. workplace. These efforts further demonstrate our recognition and
At the same time, through innovative themed roadshows such as “Chat empowerment of women in the workforce.
Over Snacks & Drinks”, we created a relaxed and engaging atmosphere
across 11 universities nationwide. These initiatives provided students
with direct access to senior leaders, significantly improving both
campus recruitment experience and effectiveness.
Localized recruitment Gender representation
The Company places strong emphasis on building a locally rooted We are committed to the principle of equal employment and
talent team. Breweries and sales regions actively recruit local talent continuously focus on the proportion of female employees at key
through regional job portals, government-organized job fairs, and career stages including recruitment, promotion and departure. We strive
talent exchange centers, providing employment opportunities for to promote workplace diversity, endeavoring to enable every employee
local communities and deepening the Company’s integration with the to display their talents and feel a sense of belonging and realize their
Female recruitment month poster
community. personal value.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 62
Employee-Related Data for 2025
Percentage of female employees in middle- Percentage of female employees
level and above management positions in management positions
Percentage of female employees Proportion of female employees in
management positions within revenue-
generating functions (such as sales)19
Percentage of female employees among Percentage of female employees in
promotions STEM positions
headquarters open day School of Bioengineering
project by School of Economics, Xiamen University
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 63
EMPLOYEE TRAINING AND DEVELOPMENT
We have always regarded our employees as the core driving force The Company has established a systematic talent development In leadership development, the Company adopts a tiered development
behind the Company’s sustainable development. Committed to building system spanning all career stages from new hires to senior leadership. strategy for leaders at senior-level, middle-level, and frontline managers.
a systematic and personalized talent training system, we provide clear Leveraging a learning model through diverse development initiatives Through internal trainer-led sessions, industry expert practical guidance,
career pathways and diverse learning opportunities to empower every and professional academies, this system is anchored in a growth culture and cross-functional workshops, we systematically enhance the strategic
employee to realize their full potential. Together, we live up to the to strengthen the succession pipeline and sustainable development execution and team collaboration capabilities of our management
corporate promise of “Something’s Brewing”. capabilities. teams. At the same time, we place strong emphasis on nurturing young
talent and building a sales leadership pipeline. Our management trainee
program, refined over 15 years, has become a key incubator for future
EMPLOYEE CAREER GROWTH TIERED AND CATEGORIZED TRAINING SYSTEM business leaders. For the sales function, a full-cycle development
framework of specialist – supervisor – manager – director enables
progressive capability enhancement.
T h e Co m p a n y h a s e s ta b l i s h e d a n e m p l o y e e s e l e c t i o n a n d We have built a digital learning ecosystem that integrates online and
development mechanism based on the principles of fairness, justice, offline training. In 2025, the employee training coverage rate reached In addition, we implement a range of diversified development initiatives,
and openness, with values alignment, professional competence, and 100%. In terms of online learning, the internal learning platform including partner programs, mentor/coach programs, challenging projects,
performance outcomes serving as the core criteria for promotion. “Carlsberg Learning” serves as the core platform, offering a total of benchmarking market learning, short-term dispatch, and job rotations.
We regularly organize talent evaluation meetings to identify high- 3,704 courses, covering a wide range of needs across technical skills, These initiatives empower employees from multiple dimensions, support
potential employees and develop IDP20. To promote talent flow within general abilities, and leadership. Employees accumulated a total of employees in practice and help build their capabilities, embedding the
the organization and capability expansion, the Company actively 41,526 learning hours in the year, and the total accumulated training principles of empowerment, delegation, support, and development
encourages diversified development approaches such as job rotation hours over the year amounted to nearly 280,000 hours. throughout the entire employee lifecycle. By doing so, we fully unlock
and short-term assignments. These initiatives enable employees to employee potential and help individuals achieve self-breakthroughs
gain cross-functional experience through practice, supporting their and elevate their professional value through hands-on experience.
growth through both vertical promotion and horizontal development. This reflects the Company’s deep commitment to and comprehensive
investment in employee development.
In 2025, the employee training coverage rate reached Employees accumulated a total of
Offering a total of
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 64
PERFORMANCE MANAGEMENT
+ =
at
Wh How
The Company has fully embedded a “Growth Culture” into its Growth
performance management system, evaluating employee contributions Performance Culture
Overall
through two key dimensions: business results (What) and behaviors Results Principles Performance
(How). The behavioral standards are centered around five core growth
culture principles: Semper Ardens (always burning);Positive energy
and compassion; Passsion for consumers; Decide fast and deliver
with excellence; Empower, support, and grow our people. Through Based on the achievement of Based on the behaviors demonstrated by employees Based on a comprehensive evaluation of
continuous dialogue and dynamic updates to IDPs, we ensure employee performance priorities in the process of achieving performance results practicing Growth Culture Principles (HOW)
alignment between personal goals and organizational strategy. and delivering performance results (WHAT)
what results were achieved how the results were achieved
This enables employees to deliver business results while living out
Carlsberg’s core values. Overall performance evaluation criteria
EMPLOYEE RIGHTS, INTERESTS, AND CARE
The Company always upholds a “people-oriented” management EMPLOYEE RIGHTS
philosophy, regarding employees as a crucial cornerstone for
s u s ta i n a b l e d e ve l o p m e n t . We a re c o m m i tte d to b u i l d i n g a
In 2025, the Company comprehensively updated its Human Rights
comprehensive and systematic employee rights protection system,
Policy , further clarifying and strengthening its commitment to
creating a safe, inclusive, and growth-oriented work environment
safeguarding employees’ fundamental rights. We systematically
through diverse communication channels, fair and reasonable
identify and manage eight key human rights risk areas across our
compensation and benefits, and holistic professional care.
operations, including forced labor, child labor, freedom of association
and collective bargaining, discrimination and harassment, working
hours and rest and leisure, remuneration and benefits, occupational
health and safety, as well as access to and use of drinking water.
We are firmly committed to ZERO incidents of forced labor and child
labor throughout the entire employment lifecycle. To ensure timely
resolution of any potential violations of employee rights, we continue
to operate the “Speak Up Helpline”, providing employees with a secure
and confidential channel for reporting concerns. In 2025, no incidents
of discrimination, forced labor, or child labor were identified in our
business operations.
“Speak Up Helpline” poster
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 65
EMPLOYEE ENGAGEMENT
The Company highly values employee feedback and has established Employee Engagement Enhancement – Process and Initiatives
a multi-level, multi-dimensional communication system to ensure that
voices from all levels are fully heard and promptly addressed.
● Conduct annual “My Voice” survey covering
topics such as engagement, DEI, and
Diverse Communication Channels for Employees Listen and
management
Diagnose
● Managers and teams jointly review the survey
reports to identify areas for improvement
Held quarterly, this meeting is led by the
National President to share important business
quarterly information, new product introductions, ● Introduce the Korn Ferry Assessment tool
employee town commendations and recognitions, as Plant manager open day
to integrate growth culture into Individual
hall meeting well as key employee activities with all
Development Plan (IDP)
employees nationwide. T h e Co m p a n y h a s e s ta b l i s h e d a n d e n h a n c e d a fe e d b a c k
● Expand lateral development opportunities (e.g.,
implementation mechanism to ensure that relevant functional Empower and
job rotation, project participation) and share
departments promptly respond to and follow up on employee Motivate
internal job vacancies.
concerns, fully protecting employees’ rights to know, participate,
Held quarterly, bringing together the express and supervise. This creates an open, transparent, and inclusive
● Launch talent development programs such as
President face- President and employees across levels working environment. In 2025, the Company continued to conduct the “Tiger Plan” and “Wolf Plan”, enriching both
to-face forum to review business development and “My Voice” employee engagement and a DEI survey to systematically online and offline training formats
strategic directions. gather employee feedback. The survey achieved an overall participation
rate of 99%, covering over 6,400 employees. Results showed that
employee engagement scores remained stable at 89 points, while DEI ● Team-led action workshops with employee
dimension scores further increased to 91 points. participation in developing improvement plans
Plan and
Regularly held at each brewery to ● Drive process and system optimization projects
Plant manager Improve
facilitate direct communication between to enhance cross-functional collaboration and
open day
frontline employees and management. information sharing
The survey achieved an overall participation rate of
“Speak Up
Helpline”
Ongoing enhancement of employee 99% ● Promote a “real-time recognition” culture
through programs such as appreciation cards and
awareness of rights protection channels.
promotion recognition to provide timely feedback
Cultivate
covering over ● Conduct “inclusive leadership” training and “open
Culture and
mic” dialogue sessions
Environment
● Strengthen DEI awareness to enhance
Diverse Includes HRBP interviews, line manager employees
organizational inclusiveness and psychological
communication regular communication, and employee
safety
activities town hall meetings.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 66
REMUNERATION AND BENEFITS
To attract, motivate, and retain talented people, the Company investigates and benchmarks against the FMCG industry to establish a comprehensive and market-competitive remuneration and benefits system. Through diversified
incentive programs, regular remuneration reviews, and flexible benefit options, we are committed to ensuring that employees’ contributions are fairly recognized, aiming to enhance overall well-being and a sense of belonging.
Employee Welfare21
We have established an end-to-end incentive framework that covers all
Health Welfare
employees, ensuring timely and effective incentives.
● Additional business insurance covering travel, accident, life and medical
● Annual performance incentive: applicable to employees in management
and professional roles. The incentive is linked to both financial and ● Physical examination
performance outcomes at the Company, business unit, and individual
COMPREHENSIVE levels, encouraging employees to grow together with the Company.
INCENTIVE
● Sales instant incentive: designing quarterly and monthly incentive Benefits in Points
SYSTEM
programs for frontline sales. Company business goals are broken down
into outcome- and process-based metrics to enable immediate rewards ● Flexible welfare points
and behavior-driven motivation.
● Special recognition programs: establishing timely and innovative
incentives to promptly recognize outstanding individuals and teams, and
Benefits in Kind
to promote a culture of innovation and excellence.
● Holiday money or gifts
● To ensure both external competitiveness and internal equity, we ● Welfare liquor
regularly review industry and market trends. Based on two core
DYNAMIC ● Union gift benefits
dimensions, compensation competitiveness and individual performance,
REMUNERATION
we conduct annual remuneration reviews and develop prudent
MANAGEMENT
adjustment remuneration plans to support employees’ continuous value
growth.
Work-life Balance
● Beyond statutory benefits, we continuously enhance our efforts in ● Extra company leave
employee care. By introducing a flexible benefits points platform,
employees can tailor their benefits package according to personal and
● Carlsberg Care hotline
family needs, significantly improving the personalization and well-being ● Happy hour activity
FLEXIBLE
impact of our offerings.
BENEFITS AND ● Sports club
HOLISTIC CARE
● Our bonus policy also reflects a strong people-centric approach. Bonus
guarantees are provided as stipulated in the regulations for employees ● Meal (canteen) benefits
within their probationary period or specific leave periods. The policy
● Beer tasting event
clearly outlines anti-fraud and disciplinary requirements, ensuring a
balanced approach to incentives and risk management.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 67
EMPLOYEE CARE ACTIVITIES
The Company consistently places the employee rights protection
and outstanding workplace experience at its core, and is committed Case COOLING RELIEF IN SUMMER, ENSURING SAFE PRODUCTION DURING PEAK SEASON
to building a harmonious and inclusive labor environment. We have
established a comprehensive trade union system across all business
units nationwide, and effectively safeguard employee rights through During the peak production season of summer 2025 amid high
collective consultation mechanisms. In 2025, Xixia Jianiang signed a temperatures, the trade union of Xixia Jianiang continued to
collective labor contract, demonstrating the Company’s commitment to launch the “Cooling Relief Campaign” to show care for frontline
democratic management and the protection of employee rights. employees at the packaging workshop and other production
areas. The union procured watermelons from the core production
Since 2018, the Company has partnered with EAPs Consulting, a
area of Zhongwei, and distributed them together with cooling
professional psychological services provider, to launch the Employee
supplies such as rock sugar, jasmine tea, and other heat-relief
Assistance Program (EAP) “Carlsberg Care Program”, a comprehensive
items to help employees relieve heat-related discomfort and
mental health support initiative. The program offers a wide range
fatigue. In addition, the Company set up “mobile refreshment
of services, including individual counseling, group coaching, stress
stations”, equipped with Huoxiang Zhengqi Water (a traditional
management workshops, and mental health seminars, providing
remedy for heatstroke), snacks, and juice powders. Measures such
employees with accessible, confidential, and professional psychological
as staggered shift arrangements were also implemented to ensure
support. In 2025, the Company provided a total of 90 one-on-one
employee well-being and operational safety. The Cooling Relief campaign
psychological consultations, effectively supporting employees in
managing work and personal life stress.
At the same time, the Company actively promoted workplace exercise
breaks, encouraging daily participation and fostering a healthy
workplace culture, effectively enhancing employees’ physical vitality
and work efficiency. Case ORGANIZING YOUTH SOCIAL EVENTS TO PROMOTE WORK-LIFE BALANCE
On May 18, 2025, Xixia Jianiang organized single young
employees to participate in the “DIY Cupcake – Sweet as You”
youth social event hosted by the Communist Youth League
of Helan County. The event featured ice-breaking games and
interactive team activities, helping young employees get to
know each other in a relaxed and fun atmosphere and build
rapport. In the highly anticipated DIY cupcake activity, employees
showcased their creativity and worked together, deepening mutual
understanding and enhancing a sense of belonging and well-
being.
Youth social event
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 68
RESPONSIBLE PROCUREMENT
The Company views suppliers as strategic partners in achieving We have established a routine supply chain risk management system, At the same time, we prioritize communication and collaboration
sustainable development. Through standardized supplier lifecycle conducting monthly assessments of supply risks for critical materials with suppliers. We actively conduct awareness programs and training
management and responsible procurement practices, we integrate and implementing targeted risk mitigation measures. Additionally, sessions on food safety, quality management, occupational health
ESG principles into procurement decisions and supplier evaluations. we carry out regular reviews and specialized management for high- and safety, and sustainable development through multiple channels.
In addition, we continuously support suppliers in enhancing their risk and highly dependent key suppliers, systematically enhancing the These efforts aim to enhance suppliers’ sustainability capabilities, foster
capabilities in compliance, risk resilience, and responsible business security and resilience of our supply chain. mutual understanding, and drive continuous improvement, jointly
practices, with the purpose of building a sustainable and responsible building a robust, efficient, and sustainable supply chain ecosystem.
supply chain.
PROMOTING RESPONSIBLE Case SUPPLIER ENGAGEMENT ACTIVITIES
STANDARDISING SUPPLIER PROCUREMENT
MANAGEMENT In April 2025, the Company hosted specialized briefings on
We have integrated sustainable development principles into our the Supplier Code of Conduct for suppliers at its breweries
procurement practices, striving to advance responsible procurement in Xinjiang and Tianmuhu, strengthening supply chain
We strictly implement the Group’s supplier management regulations,
and collaborate with suppliers to build a responsible value chain. In compliance management and encouraging partners to jointly
including the Requirements on Direct Material Quality , the
Suppliers’ Requirements on Noncontact Material Quality, the Third-
Code of Conduct and signed the Business Service Safety Code of principles.
party Screening Manual , and the Supplier and Licensee Code of
Conduct with suppliers, which establish clear minimum standards for
Conduct 22. We have also developed the China Procurement Category
supplier behavior across management systems, fundamental human
Responsibility Matrix and China Procurement Policy , which clearly
rights, labor conditions, occupational health and safety, environmental
define the management and responsibility assignments across
protection, and business ethics, all aimed at mitigating supply chain
different procurement categories. These policies together establish
risks.
a comprehensive supplier management system that covers the full
supplier lifecycle, from onboarding and review, to selection, evaluation, We place strong emphasis on supplier performance in areas such as
remediation and exit. In 2025, the Company had approximately 4,900 quality, safety, environmental protection, and social responsibility.
suppliers, of which around 500 were newly onboarded. Suppliers are required to establish and maintain externally certified
ISO 9001 quality management systems. Suppliers of raw materials
In the onboarding and review of suppliers, we adhere to principles of
and direct packaging materials must get the food safety management
openness, fairness, and impartiality. All new suppliers must undergo
system certification recognized by GFSI. In 2025, 100% of our
rigorous screening, including checks on areas including anti-bribery
major material suppliers were certified to ISO 14001 Environmental
compliance, trade sanctions, and financial health. Only qualified
Management Systems / ISO 9001 Quality Management Systems.
suppliers are included in our management system. Additionally, we
conduct annual performance evaluations based on metrics such as on-
time delivery rate, quality qualification rate, service quality, adherence
to safety regulations, and pricing competitiveness. Suppliers are
categorized into strategic, leverage, critical, and transactional types for
differentiated management. Suppliers scoring below 80 points in the
Supplier meetings
certified to ISO 14001/ISO 9001
annual performance evaluations will not be considered for continued
collaboration in the following year.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 69
COMMUNITY ENGAGEMENT
We actively uphold corporate social responsibility, and take the
community as a vital foundation for sustainable business growth. We CHONGQING BREWERY’S 22-YEAR STUDENT FINANCIAL ASSISTANCE CAMPAIGN TO EMPOWERS
Case
are committed to demonstrating care and compassion and giving back THOUSANDS OF STUDENTS TO REALIZE THEIR DREAMS
to society through concrete actions. We empower community futures
through education, bring warmth through care initiatives, and enrich In 2004, Chongqing Brewery Yibin Branch, together with the
community ecosystems through cultural engagement. Meanwhile, Communist Youth League Yibin Municipal Committee, launched
we call on our employees to actively participate in public welfare the Chongqing Brewery Student Financial Assistance campaign,
endeavors, driving sustainable and inclusive community development. which has lasted for 22 years. A total of RMB 4.05 million has
been donated, lighting the way for 1,929 underprivileged students
EDUCATION SUPPORT in their educational pursuits. On September 1, 2025, the 22nd
campaign was held at the Yibin Youth Development Center, where
RMB 189,000, providing solid support for their smooth entrance
We see supporting education as a core part of our corporate social
into university and chasing their dreams for the future.
responsibility. Through sustained initiatives such as our student
financial assistance campaign and exam readiness support, we provide
tangible assistance to students in need and help them overcome Grant Awarding Ceremony for the 22nd Chongqing Brewery
educational barriers. From showing heartfelt care to students preparing Student Financial Assistant Campaign
for the college entrance examination, to supporting new students to
begin their university journey, every gesture of care reflects our firm
commitment to the cause of education.
Case “TIANSHAN FRESH FRUIT BRINGS COOLNESS” CARING INITIATIVE TO SUPPORT GAOKAO STUDENTS
During the China’s college entrance exams (Gaokao) from June
Fruit Brings Coolness” caring initiative in multiple locations
across Ningxia. The Company set up a care service station at the
Shizuishan Guangming Middle School, providing a shaded waiting
area for candidates and parents. Free Tianshan Fresh Fruit Garden
Orange Soda was offered to students and families, together with
warm wishes, to support them in pursuing their academic dreams.
Care service station for the “Tianshan Fresh Fruit Brings Coolness”
gaokao support initiative
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 70
COMMUNITY CARE
We actively participate in community public welfare initiatives and care for various social groups through diverse actions. Through tangible sympathy, donations, and innovative projects, we provide warmth and support, convey the
care of the Company, and inspire community vitality.
SUPPORTING PEOPLE WITH VISITING TRAFFIC POLICE AND HONORING THE DEDICATION OF
Case DISABILITIES AND CONVEYS SOCIAL Case JOINING EFFORTS TO BUILD A Case PUBLIC TRANSPORT WORKERS IN
CARE SAFER TRAVEL ENVIRONMENT THE SCORCHING HEAT
Chongqing Liangping Brewery donated RMB 2,000 to Wusu Brewery donated 2,400 cases of “Dianchi” energy The Company donated 30 cases of Tianshan Fresh Fruit
the Chongqing Disabled Persons’ Welfare Foundation, drinks to the Xinjiang Autonomous Region Traffic Police Garden beverages to frontline public transport workers
specifically to assist local individuals with disabilities in need. Detachment and traffic police teams in five prefectures in who remain dedicated to their duties under the scorching
This act demonstrates how the Company upholds corporate southern Xinjiang. This initiative honors the dedication of heat, offering cool refreshments as a tribute to these city
social responsibility through concrete actions and delivers frontline traffic officers and supports public safety efforts, guardians and expressing our respect and care for their hard
care and support to vulnerable groups. contributing to the building of a civilized and secure traffic work.
environment.
Chongqing Liangping Brewery donated Wusu Brewery donated The Company donated
RMB 2,000 to the Chongqing Disabled 2,400 cases of “Dianchi” energy drinks to 30 cases of Tianshan Fresh Fruit Garden beverages to
Persons’ Welfare Foundation the Xinjiang Autonomous Region Traffic Police Detachment frontline public transport workers who remain dedicated to
and traffic police teams in five prefectures in southern their duties under the scorching heat
Xinjiang
Liangping Branch of Carlsberg Chongqing Brewery Co.,
Ltd. honored as a “Loving Organization for Persons with Xinjiang BU visits traffic police officers
Disabilities”
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 71
Case “WOMEN CAN” CRAFT BEER – EMPOWERING WOMEN’S DEVELOPMENT
Carlsberg (China) Breweries and Trading Company Limited have
partnered with the Dali City Women’s Federation to launch the
“Dali City Women’s Social Public Welfare Project”, and introduced
“Women Can” rose sea salt flavor craft beer – the first craft
beer under the WFSM brand specifically created for women.
Brewed by an all-female brewing team, this craft beer interprets
the multifaceted charm of women through its “sweet and salty”
flavor profile The English name “Women Can” carries a dual
meaning, conveying the spirit of female empowerment. The
project integrates public welfare with product innovation. Through
the sale of the first batch of 3,000 cases, the Company raised
and donated RMB 200,000 to the Dali City Charity Association,
supporting local women’s entrepreneurship and employment
development. This initiative reflects our commitment to supporting “Women Can” donation ceremony
women’s development through concrete actions.
Case EMPOWERING RURAL VITALIZATION AND SUPPORTING WOMEN IN QUANNAN COUNTY
In July 2025, the Company donated RMB 80,000 to Quannan
County in Jiangxi Province to support employment and
entrepreneurship training and support programs for rural women.
In November 2025, the Quannan County Women’s Federation
launched a series of employment and entrepreneurship training
workshops based on this funding. Over 100 women from
across the county participated in the program. The first AI and
e-commerce training session covered practical skills such as AI-
powered video production, Douyin e-commerce operations, and
smart office tools, effectively enhancing the employability of rural
women. This initiative empowers women in rural communities to
realize their full potential and showcase their talents on a broader
stage. Quannan County Women’s Employment and Entrepreneurship
Skills Training Program
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 72
CULTURAL COMMUNICATION
We value our brand positioning and identity, and are committed to building communication approaches that
resonate with Chinese consumers’ emotions and cultural traditions. Drawing on the rich diversity of China’s LAUNCH OF CHONGQING BREWERY V8 GUIZHOU SCENERY LIMITED
Case
regional cultures, we actively explore innovative ways to incorporate traditional Chinese cultural elements into EDITION TO PROMOTE REGIONAL CULTURAL COMMUNICATION
product packaging. We also continue to launch diverse marketing initiatives that support the inheritance and
development of local cultural traditions. In May 2025, Chongqing Beer held a launch event in Zunyi for its V8 Guizhou Scenery Limited
Edition, marking its official release in Guizhou. Themed “Colorful Guizhou, Fiery Flavors, Free
CARLSBERG LAUNCHES SNAKE YEAR PACKAGING TO CONVEY Spirits”, the packaging design integrates natural and cultural elements from various parts of Guizhou,
Case featuring hand-drawn illustrations of iconic landmarks such as Huangguoshu Waterfall, Xiaoqikong,
GOOD WISHES FOR THE SPRING FESTIVAL
Xijiang Qianhu Miao Village, Chishui Danxia, Fanjingshan, and Wanfenglin. As part of the new
product launch, Chongqing Beer also organized diverse consumer engagement activities, expanding
In 2025, the Year of the Snake (Yi Si), Carlsberg collaborated with a renowned Asia artist duo, Yang the integration of “beer + tourism” and enhancing visitors’ appreciation and connection to local
Songyao and Su Su, to design the Carlsberg Artist Edition for the Year of the Snake. Inspired by culture.
the brand’s iconic element, the hop flower, the design integrates traditional Chinese zodiac culture
and festive symbolism. The artwork features an auspicious snake entwined with blooming vines,
symbolizing continuous growth and flourishing prosperity in the new year.
Carlsberg Artist Edition for the Year of the Snake design Launch of Chongqing Brewery V8 Guizhou scenery limited edition
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 73
PROMOTING CHONGQING’S CULTURAL DEVELOPMENT THROUGH WFSM “YUNNAN SCENERY LIMITED EDITION CANS”, SHOWCASING
Case Case
LOCAL BRANDS AND URBAN EVENTS CULTURAL HERITAGE
In October 2025, Chongqing Beer launched three new products—Chongqing Craft Whole Wheat 1L, In November 2025, WFSM, in collaboration with Meiyijia, launched the “Yunnan Scenery Limited
Shancheng Secret Brew 1L, and Shancheng Longjing Craft Beer 1L—further enriching its “Chongqing” Edition Cans”. Featuring tie-dye patterns—a traditional intangible cultural heritage—as the visual
and “Shancheng” local brand portfolio. While advancing product innovation, the Company has base, the packaging integrates iconic natural landscapes of Yunnan such as the Cangshan Mountain
actively supported and promoted Chongqing’s cultural identity by organizing a series of cultural and and Erhai Lake, as well as Shangri-La, creating a “scenery you can take home” and endowing the
sports events, including the “Proud Crown” riverside symphony concert that blends local ethnic music product with a unique cultural identity. Originating from Dali, Yunnan, WFSM takes its name from
with classical orchestral performances, dragon boat races, and the urban vertical climb challenge. As the four scenic wonders of Dali: “wind of Xiaguan, flowers of Shanguan, snow of Cangshan, and
official partner of the “Yu Chao” football league and the “Chongqing Marathon”, Chongqing Beer has moon of Erhai”. As one of Yunnan’s most representative beer brands, the collaboration not only
embraced a “local brand + urban events” model to support the development of Chongqing’s sports reinforces regional cultural expression but also introduces intangible heritage to a broader audience
ecosystem and drive deeper integration between sports culture and consumer experiences. in an innovative way, achieving a two-way empowerment between commercial value and cultural
preservation.
Chongqing craft whole wheat beer
Riverside symphony concert Launch of WFSM’s “Yunnan Scenery Limited Edition Cans”
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 74
COMPLIANCE MANAGEMENT
Committee meetings, 2 Nomination Committee meetings, 1 Strategy a public open performance presentation to the entire market, and we
and Development Committee meeting, 8 Independent Director Special have been selected for the Best Practice of Annual Report Presentation
meetings, 2 meetings of the Board of Supervisors23, and 4 Shareholders’ of the Year by the China Association for Public Companies for three
The Company upholds integrity as a core business principle, meetings. consecutive years. In the “2025 All-Asia Executive Team” released by
continuously improves its governance structure and compliance Extel, a leading international research and analyst survey firm, the
The Board attaches great importance to the standardization of Company was honored as the No. 1 overall small and midcap enterprise
mechanisms, and strengthens risk management awareness. We
information disclosure. It works to complete all periodic reports and in the Consumer Staples category under “Asia’s Most Honored
enhance our overall governance capabilities through systematic efforts,
interim announcements in a truthful, accurate, complete and timely Companies”. This marks the third consecutive year that the Company
adhere strictly to ethical business standards, and ensure the Company’s
manner, and strictly prohibits any false statements, misleading has been included in this prestigious ranking. In addition, the Company
healthy and sustainable long-term development. Together, we
information, or material omissions. With these efforts, the Company is received multiple accolades including “Best Practices in Investor
endeavor to build a business environment grounded in the rule of law,
committed to providing all shareholders, including small and medium- Relations Management” by the China Association for Public Companies,
integrity, and honesty.
sized investors, with fair and timely access to corporate information “Tianma Award for Excellent Investor Relations Management Teams”
for risk assessment. In 2025, the Company successfully disclosed 4 by the Securities Times, Golden Bull Best Investment Value Award, and
periodic reports and 37 interim announcements, maintained an A-level
CORPORATE GOVERNANCE rating for information disclosure by listed companies from the Shanghai
the 15th Asian Excellence Award 2025 by the Corporate Governance
Asia. These honors reflect the Company’s outstanding performance in
Stock Exchange for three consecutive years, and was honored as the compliance, governance, and investor relations.
The Company is committed to the standardized operation of its “Best Practices for Boards of Directors of Listed Companies 2025” and
corporate governance structure, timely and accurate disclosure of the “Best Practice Cases for Internal Control of Listed Companies in Lee Chee Kong, President of the Company, was awarded the “the
business performance and material matters. It continuously enhances China 2025” by the China Association for Public Companies. Golden Bull Entrepreneur Innovation Award 2024” for his strategic
the risk prevention and control capabilities so as to ensure stable innovation and business achievements, becoming the sole entrepreneur
We remain committed to strengthening our investor relations in the A-share food and beverage industry to receive this honor. In the
and sustainable development. In 2025, the Company established
management by leveraging diverse channels and formats to deepen same year, he also received the CNR Network Financial Center’s 2025
the Chongqing Brewery Co., Ltd. Market Value Management System
engagement and communication with investors. In 2025, we hosted “Golden Pinnacle” award.
and the Chongqing Brewery Co., Ltd. Public Opinion Management
Measures , and revised the Articles of Association of Chongqing
Brewery Co., Ltd. , the Rules of Procedure for Shareholders’ Meetings
Case HOSTING PERFORMANCE PRESENTATION TO STRENGTHEN INVESTOR COMMUNICATION
of Chongqing Brewery Co., Ltd. , the Rules of Procedure for the Board
of Directors of Chongqing Brewery Co., Ltd. , and the Implementation
Rules for the Audit Committee of the Board of Directors of Chongqing
In the first half of 2025, the Company successfully held the 2024
Brewery Co., Ltd. , further strengthening its corporate governance
Annual & 2025 First-Quarter Performance Presentation at its
framework and clarifying the key responsibilities, conduct, and decision-
Foshan Brewery. The event adopted an innovative format to build
making procedures of the Board and its special committees.
a deeper communication bridge with investors. Featuring live online
streaming, the performance presentation included a variety of
Effectiveness of the Board of Directors sessions such as a brewery tour, executive interaction, performance
Q&A, and tasting new products with the master brewer. These
The Company places strong emphasis on the effective operation activities enabled investors to closely observe the beer production
of its Board of Directors. Our current independent directors come process, experience product quality firsthand, and engage in in-
from diverse professional backgrounds, including law, finance and depth dialogue with management on key issues, helping investors
accounting, marketing, and enterprise management, bringing a better understand the Company’s operational logic and long-
wealth of expertise and practical experience. Through regular internal term strategic direction. The online live stream of the presentation
and external meetings, the Board drives continuous enhancement attracted widespread attention, achieving a total of 205,747 views,
of corporate governance. In 2025, we convened 8 Board meetings, representing a 15% increase compared to the same period last year.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 75
Case HOSTING AN ESG MEDIA WORKSHOP TO PROMOTE SUSTAINABLE DEVELOPMENT
On May 16, 2025, the Company hosted three media ESG
workshops, inviting industry experts, scholars, and representatives
from multiple media outlets to participate. They engaged in in-
depth discussions on corporate ESG practices and sustainable
development experiences, exploring green development trends
and innovative approaches. Through transparent and meaningful
dialogue, the workshops served as a platform to communicate the
Company’s strategic planning, specific goals, and key milestones
in sustainability, particularly its systematic efforts in the areas
of green manufacturing, carbon neutrality, and localized brand
innovation. This further strengthened mutual understanding and
trust with key stakeholders on critical sustainability issues. Jiangsu Media ESG Workshop
RISK MANAGEMENT AND INTERNAL CONTROL Overview of Risk Training in 2025
The Company places great emphasis on risk management and has To effectively prevent ESG-related risks, we conduct regular risk
established a systematic and ongoing risk management framework, assessments, continuously monitor risk areas such as pollutant A total of
deeply integrating risk management into all aspects of business emissions, environmental penalties, anti-corruption and anti-
operations and business growth. commercial bribery, tailored to our industry characteristics, and
take timely and responsive measures. In 2025, the Company’s employees participated in the key internal control
To further strengthen the risk management mechanism, we have internal audit team conducted targeted audits on key business areas framework risk training.
formulated policies such as the Risk Management Policy and the including procurement and travel expense processes, engineering and
Internal Control Self-Assessment Manual . Through a series of maintenance management, sales and marketing expenses, business
measures, including risk assessments, risk inventory development, and A total of
outsourcing processes, and financial records management. Ongoing
control testing, we ensure that all business risks remain under effective routine monitoring was also carried out to support process optimization
control. Building on this foundation, we have established a “four lines and improvement. employees participated
of defense”24 framework, namely, operations management, risk and
compliance, internal audit and external audit. The responsibilities To enhance risk awareness across the organization, we actively in the Financial workshop.
of each line of defense are clearly defined to form a layered and organize various risk-related training programs. In 2025, the Company
coordinated risk management structure. Risk owners are responsible delivered training sessions on internal control frameworks, financial A total of
for reviewing and assessing the risk area in their charge on a quarterly and tax compliance, and other risk management topics, with a total of
basis, preparing risk reports to summarize progress in risk management,
verifying the effectiveness of related measures, identifying potential
high risks, and reporting quarterly to the risk management team.
cumulative employee coverage rate reached 98.40%. 350 employees participated in
the financial and tax compliance training.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 76
BUSINESS ETHICS
“Living by Our Compass” is a fundamental principle in our business ANTI-BRIBERY & ANTI-CORRUPTION REGULATING PARTNER PRACTICES
operations. We strictly adhere to the Company Law of the People’s
Republic of China , the Anti-Unfair Competition Law of the People’s
The Company maintains a zero tolerance policy toward all forms of We actively promote the joint development of a clean, healthy, and
Republic of China , the Anti-Monopoly Law of the People’s Republic
bribery and corruption, and strictly stipulates that employees are not orderly business ecosystem with all external partners, and advocate
of China , and other national laws and regulations. Additionally, we
allowed to accept any form of benefits, including gifts and dinner for shared adherence to the Company’s ethical standards and code of
fully implement the Code of Ethics & Conduct 25, the Anti-Corruption
invitations, from colleagues or stakeholders through non-disclosed or conduct. Our suppliers, licensees and distributors are required to sign
and Anti-Bribery Policy 26, the Third-party Screening Manual , and other
non-transparent means. To systematically prevent potential risks, we and comply with the Supplier and Licensee Code of Conduct , and to
rules on business ethics developed by the Group. We have formulated
have established a conflict-of-interest declaration mechanism that abide by other applicable local laws and regulations. In 2025, 100%
a series of codes of conduct and contract templates, such as the
covers all employees and spans their entire employment lifecycle. of our suppliers signed the Agreements on Business Ethics and the
Employee Manual , the Manual on Gifts, Banquets and Receptions ,
Both new hires and existing employees are required to truthfully Honesty and Integrity Agreement .
and the Product Distribution Agreement . These guidelines standardize
complete conflict-of-interest declaration forms, thereby minimizing
the code of conduct to be observed by employees, suppliers and
any potential harm to the Company arising from related interests. The
distributors in their business activities. We also systematically manage
Company promptly reviews and addresses declared information to
areas such as anti-corruption and anti-bribery, trade compliance, anti-
effectively safeguard its legitimate rights and interests. In 2025, a total PROTECTING WHISTLEBLOWERS
unfair competition, prevention of interest conflicts, and information
of 734 middle- to senior-level managers completed conflict-of-interest
security through these rules.
declarations. During this reporting period, the Company had no cases We have formulated the Speak Up Helpline Handbook and set up
We have established a sound business ethics management system, of corruption or bribery litigation. various reporting channels such as emails, calls, and the third-party
with the Company’s business ethics supervised by the President and anonymous reporting platform known as the “Speak Up Helpline”, to
Vice President of Finance. Additionally, we also conduct special audits encourage all employees and business partners to proactively report
for anti-bribery and anti-corruption to continuously monitor the any violations of the Company’s business ethics and code of conduct.
effectiveness of the business ethics management system. In 2025, we We have clearly defined the handling process from case acceptance,
further carried out risk assessments on anti-unfair competition and clue collection, interview verification to result feedback, and full-time
anti-monopoly compliance, and strengthened related training and investigators carry out related work under strict confidentiality. The
institutional development, deepening the implementation of business Company attaches great importance to the protection of whistleblower
ethics management. information and has implemented specific procedures to ensure the
security of personal data, firmly preventing any form of retaliation.
In addition, reporting channel information is publicly displayed at all
production breweries and office locations. Each report is thoroughly
investigated, and any confirmed violations are dealt with seriously,
followed by proactive corrective actions.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 77
DATA SECURITY & PRIVACY
RAISING AWARENESS OF ANTI-CORRUPTION
PROTECTION
The Company places great emphasis on cultivating employees’ corruption training is conducted annually for employees in key
awareness of business ethics and continuously strengthens the mindset positions. To encourage active employee participation in corporate We attach great importance to information security and privacy
of honesty, self-discipline, and compliant business practices across supervision, the Company actively promotes the “Speak Up Helpline” protection, and are committed to protecting the information security
the organization. In 2025, all directors, managers, and employees reporting mechanism through various internal communication channels, and privacy rights of the enterprise, employees, contractors, suppliers,
completed anti-corruption and business ethics training, either online or such as thematic lectures, emails, computer screen savers, and consumers, partners and other stakeholders.
in person. Building on this, the Company has established a refresher dedicated web portals on the intranet. These efforts are continuously
training mechanism covering all employees, requiring personnel, driving the development of an organizational culture rooted in clean,
including management, to review the above training courses at least fair and honest environment.
once every three years. In addition, enhanced anti-bribery and anti- DATA SECURITY MANAGEMENT
We strictly comply with the Data Security Law of the People’s Republic
of China and other related laws and regulations. On the basis of IT
Assets Management Procedures , Security Software Development
A total of In 2025, Program and other standards for information security management,
we have formulated internal policies such as the Information Security
and Acceptable Use Policy , the Records Management and Personal
employees participated in the cases of litigation related to corruption or bribery
Information Protection Guideline , and the Procurement Process
business ethics training Security , etc., to build a sound data security management framework.
The Company had no security incidents related to data leakages in
A total of
cases of lawsuits or major administrative penalties arising
from unfair competition practices.
anti-corruption training
A total of
business ethics
law compliance training
Integrity Agreement
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 78
DATA SECURITY AWARENESS TRAINING
The Company has established a systematic data security management system. By implementing comprehensive information
security policies, it defines the classification, processing, and protection principles of information records, and details
Data Security
operational guidelines for the entire lifecycle of personal data protection. In the Employee Manual , clear guidance is provided The Company continuously strengthens the awareness of data
Management
on computer and network usage, data security, and privacy protection. In addition, all employees are required to sign and security and privacy protection of all employees through systematic
System
strictly comply with the Information Security and Acceptable Use Policy , confirming in writing their responsibilities regarding training programs. All new hires are required to complete information
information security and jointly safeguarding the Company’s information assets. security-related training within 30 days of joining the Company, and
all current employees must review the course at least once every three
At the technical protection level, we embed security control mechanisms during the design phase of core application systems years. Additionally, we have a more rigorous training and evaluation
to ensure system integrity, stability, and confidentiality. We strictly regulate the scope of data access for users and employees mechanism over personnel in key positions, and conduct regular
through multi-layered measures such as access control management, employee data tiered access restrictions, and firewall information security education and training to enhance their sense
Data Protection
policies. In addition, the Company regularly engages professional third-party institutions to conduct penetration testing on of responsibility and capabilities to protect personal information of
Measures
our applications, promptly identifying and addressing data protection vulnerabilities, and producing reports accordingly. We employees and consumers.
also integrate suppliers into our security management system by conducting simulated attack and penetration tests to assess
their data security capabilities, ensuring the compliance and security of corporate data.
In 2025,
To effectively respond to unexpected data security incidents, the Company has developed the Emergency Plan for Personal the Company conducted the following information security training
Information Security Incidents and the Emergency Response Procedures , which are continuously updated in accordance with through both online and offline formats:
evolving legal requirements and actual circumstances.
Emergency In the event of a security incident involving unauthorized disclosure, alteration, or loss of personal information, the Company a total of
Response will immediately activate its emergency response, including taking immediate remedial actions, initiating an investigation,
Mechanism reporting the incident to the relevant authorities in compliance with applicable regulations, and promptly informing affected
individuals about the incident and its potential impact. The Company is fully committed to containing an emergency situation
and minimizing any resulting harm. In addition, the Company regularly organizes emergency drills and specialized training Personal data
participated
sessions for employees in the Data Security Operations Center to enhance their capabilities in incident handling. protection
training
We regularly invite third-party organizations with professional qualifications to conduct vulnerability scanning and with a total learning time of
Data Security
security risk assessments on our systems. Based on the severity levels of identified vulnerabilities, we develop remediation
Assessment
recommendations to continuously strengthen our corporate data security protection framework.
minutes
PERSONAL INFORMATION AND PRIVACY PROTECTION
a total of
We take protecting consumer privacy and personal information seriously. To this end, we have established and implemented the Personal Information
Protection Policy 27. It strictly regulates the collection and use of consumer personal data across platforms such as official WeChat accounts, mini
employees participated
programs, and mobile applications, and clearly defines the scope and methods for using personal information in activities such as advertising and
data sharing. To ensure consumer data security at the system level, the Company is actively advancing the Multi-Level Protection Scheme (MLPS) Carlsberg
Certification for systems involving consumer data. The BRCM system has successfully obtained Level 2 certification, and we are currently progressing information security
with the Level 3 certification for the SCRM system. protection training with a total learning time of
In addition, we have established multiple feedback channels, including customer service hotlines and mailbox, to fully safeguard consumers’ right to
know and to control their personal information. These measures are designed to effectively prevent the risk of private data leakage and misuse. 1,313 minutes
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 79
INTELLECTUAL PROPERTY RIGHTS PROTECTION
The Company highly values the protection of its brand and intellectual use, licensing, transfer, and risk prevention of trademark registration, brand image and maintaining market order. In July 2025, Xinjiang
property rights. We strictly adhere to laws and regulations such as the patent application and copyright registration, ensuring the standardized Wusu Brewery Co., Ltd. was included in the “List of Enterprises
Patent Law of the People’s Republic of China and the Trademark Law management and operation of intellectual property. In the meantime, for Monitoring Administrative Law Enforcement” by the State
of the People’s Republic of China , have strengthened the cooperation we have set up individual pioneer awards, 666 golden ideas and other Administration for Market Regulation. Through this mechanism, the
with industry organizations, associations, government authorities awards to encourage our employees to participate in the Company’s Company actively engaged in the administration’s special initiatives
and media. We have joined the Beer Branch of China Alcoholic innovation and research and development. aimed at standardizing law enforcement practices involving enterprises.
Drinks Association, the T541 Standard Committee, the Quality Brand It provided actual conditions and offered constructive suggestions to
Protection Committee of China Association of Enterprises with Foreign For the prevention of intellectual property infringement, the Company relevant authorities at both national and local levels, contributing to
Investment, and the Intellectual Property Union of the Embassy of the collaborates with third-party professional organizations to monitor the development of a more standardized and transparent enforcement
Kingdom of Denmark in China. market infringements, timely detecting, rapidly responding to environment.
and effectively handling infringing behaviors. In 2025, we further
To systematically protect intellectual property, the Company has strengthened internal and external coordination to intensify efforts In 2025, the Company held a total of 149 valid patents that are directly
established a comprehensive mechanism covering the maintenance, against counterfeiting and imitation, effectively safeguarding our applicable to its core business operations.
THE TRADEMARK PROTECTION EFFORT OF “WUSU BREWERY” IS RECOGNIZED BY THE INDUSTRY,
Case
AND THE COMPANY SHARES ITS INSIGHTS
In 2025, the Company held a total of
In September 2025, the 4th China Alcoholic
D r i n k s I n d u s t r y I n te l l e c tu a l P ro p e r ty
valid patents that are directly applicable to
Conference was held in Fen Yang, Shanxi
Province, hosted by the China Alcoholic its core business operations
Drinks Association and organized by its
Intellectual Property Protection Committee.
A f t e r a r i g o ro u s e v a l u a t i o n b y t h e
Committee’s expert panel, the Company
was awarded the “2025 China Alcoholic
Drinks Industry IP Protection Model Case”
for its successful “Wusu Brewery Trademark
Protection Case”. It actively shared the
practical experiences in brand protection,
trademark management, and infringement
prevention, driving the industry to build
a comprehensive intellectual property
protection network.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 80
Case SUCCESSFUL TRADEMARK PROTECTION OF “WUSU BREWERY” SAFEGUARDS THE COMPANY’S RIGHTS
In 2025,
the Company successfully handled
In September 2025, the Supreme People’s Court of China issued a Civil
Ruling in the case filed by Chongqing Brewery against Wusu River Beer
cases related to anti-counterfeiting and
Brewing Group Co., Ltd. and others regarding trademark infringement and
unfair competition, rejecting the defendant’s petition for retrial. This marked anti-brand imitation actions, effectively safeguarding
the full judicial protection of the Company’s rights. Prior to this, the case its legitimate rights and interests.
had gone through first and second instance trials. The court ruled that the
defendant’s “Wusu River” beer constituted trademark infringement and
unfair competition, and ordered the immediate cessation of the infringing
activities, a change in the defendant’s company name, and compensation
of RMB 500,000 for economic losses and reasonable expenses incurred in
the rights protection process. In 2025, the case was selected by the Xinjiang
A selection of counterfeit and trademark infringing Intellectual Property Accomplishments in 2025
Uygur Autonomous Region as a “2024 Xinjiang Intellectual Property
products displayed by Wusu Brewery
Protection Model Case”, and was also included in the “Model Cases for
Judicial IP Protection” by both the Xinjiang Higher People’s Court and the
Kashi Intermediate People’s Court.
Case SUCCESSFUL TRADEMARK PROTECTION OF “CHONGQING BREWERY” UPHOLDS FAIR COMPETITION
Cumulative
Acquisition in
acquisition by the
In April 2025, the case in which Chongqing Brewery sued Chongpi (Yunnan) 2025
end of 2025
Brewery Co., Ltd. and others for trademark infringement and unfair
competition was selected by the Yunnan Higher People’s Court as one of the
“Top Ten Intellectual Property Protection Model Cases of 2024”.
The case was concluded by the Yunnan Higher People’s Court, which ruled
that the trademarks and packaging designs used on the “Chongba” beer
products were highly similar to those of Chongqing Brewery’s products, 120 16
constituting trademark infringement and acts of unfair competition. The
court ordered the defendants to immediately cease all infringing activities,
change their company name, and pay compensation totaling approximately
RMB 1.91 million, covering economic losses and reasonable expenses Patents
incurred in the rights protection process. This successful enforcement New declaration
Copyrights
of intellectual property rights effectively safeguarded the brand value in 2025
and market reputation of “Chongqing Brewery”, protected the legitimate Trademarks
rights and interests of consumers, and demonstrated the Company’s firm Product comparison between Chongqing Brewery (left)
commitment to upholding fair market competition through legal means. and Chongba Brewery (right)
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 81
DISTRIBUTOR MANAGEMENT
We have established and continuously improved the Product and implement a tiered management system based on the evaluation. on-site visits, and carrying out satisfaction surveys. These efforts are to
Distribution Agreement , which sets clear standards and requirements This enables us to tailor business development plans, capability- actively listen to and respond to distributors’ feedback, jointly explore
for distributors in areas such as product quality standards, expiration building pathways, and cooperation support strategies for each market opportunities and development directions with them, and
date management, packaging specifications, branding, and business distributor, supporting their continuous growth. During the performance promote the building of a long-term, mutually beneficial cooperation
ethics and codes of conduct. In addition, all distributors are required to phase, we conduct quarterly and annual comprehensive evaluations of ecosystem. In 2025, we conducted a total of 20,926 on-site visits to
sign a commitment letter, in which they solemnly commit to strictly distributors based on the following dimensions: business performance, distributors. We provide capacity-building support to our distributors
complying with applicable laws and regulations, refrain from any form operational capability, channel management, and warehouse, logistics through specialized training, helping them enhance the quality of
of unfair competition, and ensure that all business and sales activities and data management. For distributors who violate regulations products and services offered to customers, and working hand in
are conducted in a fair and orderly manner. These measures not only during the cooperation period, the Company will, in accordance hand with distributor partners to achieve mutual growth and win-win
effectively protect the quality of distributors’ products and services, but with established procedures, place them on the elimination list and outcomes. During the reporting period, we delivered 281 offline training
also promote the mutual growth of distributors with the Company. implement corresponding management measures. Through a dynamic sessions, with a total of 11,921 participants, supported by 142 active
evaluation mechanism, we continuously optimize the distributor system internal sales trainers. The average monthly activity rate at “Carlsberg
To standardize distributor management, the Company has established and build a healthy, standardized, and sustainable sales network. Learning” app was 92%, translating to 54,447 cumulative learning hours.
a systematic evaluation mechanism for distributors to be included We launched 37 high-quality online courses, with 456,428 participants,
in the database, and conducts assessments on their subsequent We continuously expand diversified two-way communication channels, and hosted 5 live-streamed training sessions, with 13,037 participants.
performance. At the onboarding stage, we set clear evaluation criteria including regularly hosting distributor conferences, conducting monthly Additionally, we organized 4 competitions, with 11,836 participants.
Case XINJIANG BU DISTRIBUTOR EMPOWERMENT WORKSHOP
In September 2025, the Carlsberg China sales capability
development team collaborated with the Xinjiang BU to host
the first Distributor Empowerment Training Workshop in Urumqi.
Focused on “Channel Network Planning and Profit Growth
Management”, the workshop invited external experts to deliver
lecturers to a total of 43 participants, including representatives and
regional managers from 30 distributors. The curriculum covered
topics such as sales channel strategy, return on working capital
calculation, and the six elements of vertical growth. It aimed
to enhance participants’ capabilities in scientific management
and promote sustainable profitability. The workshop received
an impressive average satisfaction score of 4.8 out of 5.0 from
participants. As part of the post-training action plan, participants
were required to submit their Q4 Win-win Management
Plan , ensuring that the knowledge gained was effectively
translated into business practice and further strengthening the Group photo of participants at the Xinjiang Distributor Empowerment Workshop
collaborative partnership between EY and its distributor network.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 82
Case YUNNAN BU DISTRIBUTOR MANAGER TRAINING CAMP
In 2025,
In May 2025, the Yunnan BU hosted the Distributor Manager Training Camp in Dali. The training adopted a blended approach, combining
internal and external trainers with theoretical knowledge and practical application. It provided practical courses such as the Guide for
offline training sessions were provided for
Distributors on Developing Sales Plans and Forecasting Sales Volumes and the How Can Distributors Conduct Effective Sales Meetings to
principals from 45 distributors across Yunnan Province. To ensure practical application of the learning, participants were required to submit sellers and distributors
sales plans and video recordings of their sales meetings as part of the post-training implementation process. This approach effectively
translated knowledge into practice, systematically enhancing the professional capabilities of our distributor partners.
Group photo of participants at the Yunnan Distributor Manager Training Camp
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 83
APPENDIX
THIRD-PARTY COMMENT
The Environmental, Social and Governance (“ESG”) Report 2025 of In terms of social responsibility, Chongqing Brewery has continuously Through technological innovation and systematic management,
Chongqing Brewery Co., Ltd. systematically presents the Company’s promoted responsible drinking initiatives and participated in the Chongqing Brewery has formed a practical model with industry
strategic thinking and practical achievements on the path of “National Responsible Drinking Promotion Week”. By launching a promotion value in green manufacturing, safe production and
sustainable development. Centered on the core framework of “Together variety of non-alcoholic and low-alcohol beverages, the Company has community collaboration. Looking ahead, the Company is expected to
Towards ZERO and Beyond” (TTZAB), the report has established a actively responded to the trend of healthy consumption. Furthermore, further deepen supply chain collaborative carbon reduction, promote
full value chain ESG governance system covering our “ZERO Carbon the Company achieved 100% employee training coverage and the standardization of the packaging circular system, and conduct more
Footprint”, “ZERO Water Waste”, “ZERO Packaging Waste” objectives continuously improved its safety management system. The number of exploration in cutting-edge topics such as biodiversity conservation.
and other areas. It aligns effectively with the national “dual carbon” lost-time accidents in 2025 dropped by 94% compared with 2018. 26 of It will continue to play an industry-leading role and provide replicable
strategy, demonstrating the Company’s holistic layout from strategy to our breweries nationwide have maintained zero lost-time accidents for practices for the sustainable development of China’s wine industry and
implementation. two consecutive years, with a strong safety production culture deeply even the manufacturing sector.
rooted.
In terms of environmental performance, Chongqing Brewery achieved
of beer brewed decreased by 78.47% compared with 2015, marking tier ESG governance structure (President – TTZAB Target Owners –
remarkable carbon reduction results. In addition, the Company realized ESG Owners) to ensure effective communication and implementation
with the local proportion of hops reaching 55% and that of malt results in authoritative international and domestic ratings: Rated AA in
products reaching 35%, effectively cutting carbon emissions from the MSCI ESG Rating for two consecutive years, ranking among the top
transportation. The Company also delivered outstanding performance in the global beer industry; Awarded Grade A in information disclosure
in water resource management. Specific water consumption dropped by the Shanghai Stock Exchange for three consecutive years; awarded
to 2.03 hl/hl, a decrease of 47.55% from the average level in 2015. “Best Practices for Boards of Directors of Listed Companies 2025” by
The annual average weighted specific water consumption of breweries China Association for Public Companies; five of its breweries have been
located in high water-risk areas stood at 1.98 hl/hl. Its water-saving honored as national-level and provincial-level “Green Plants”, “National
practices have been widely recognized: Huizhou Brewery was awarded Water Efficiency Leaders”, “Advanced Smart Plants” and “Waste-free
the “Top 10 Typical Water-Saving Cases in Guangdong Province 2025”, Enterprise”. These awards and ratings not only reflect recognition
while Yining Brewery and Korla Brewery both won the title of “Xinjiang from the capital market and regulators of the Company’s sustainable
Uygur Autonomous Region Water-Saving Enterprises in the Industrial development performance, but also demonstrate its leading position in
Sector 2025”. ESG governance and transparency construction.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 84
GRI INDEX
Instructions The Company reports the information referenced in this GRI Content Index with reference to GRI standards for the reporting period from January 1, 2025 to December 31, 2025.
GRI 1 used GRI 1: Foundation 2021
S/N Indicators Description Location S/N Indicators Description Location
DIVERSITY, EQUITY &
INCLUSION
reporting INCLUSION
GRI 2: General
Disclosures
STAKEHOLDER
ENGAGEMENT
THIRD-PARTY DIVERSITY, EQUITY &
COMMENT INCLUSION
DOUBLE MATERIALITY
ASSESSMENT
ZERO Accidents Culture GRI 3: Material DOUBLE MATERIALITY
INCLUSION DOUBLE MATERIALITY
ZERO Accidents Culture ASSESSMENT
Disclosures INCLUSION GRI 101: Footprint
Biodiversity ZERO Farming
Footprint
RESPONSIBLE
management of impacts
COMPLIANCE
MANAGEMENT
reporting MESSAGE corruption policies and procedures MANAGEMENT
COMPLIANCE COMPLIANCE
MANAGEMENT MANAGEMENT
DIVERSITY, EQUITY & and monopoly practices MANAGEMENT
INCLUSION
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 85
S/N Indicators Description Location S/N Indicators Description Location
ZERO Packaging ZERO Carbon
Waste Footprint
GRI 305:
GRI 301: ZERO Packaging
Materials Waste 51
other significant air emissions MANAGEMENT
ZERO Packaging
Waste
ZERO Carbon impacts MANAGEMENT
Footprint
EMISSIONS
ZERO Carbon MANAGEMENT
Footprint
GRI 306: EMISSIONS
GRI 302: ZERO Carbon Effluents and Waste MANAGEMENT
Energy Footprint
EMISSIONS
ZERO Carbon MANAGEMENT
Footprint
EMISSIONS
services Footprint
ZERO Water environmental criteria PROCUREMENT
Waste
Assessment 308/2 Negative social impacts in the supply chain and RESPONSIBLE
ZERO Water actions taken PROCUREMENT
Waste
DIVERSITY, EQUITY
GRI 303: ZERO Water & INCLUSION
Water and Effluents Waste
ZERO Water GRI 401: 401/2 Benefits provided to full-time employees that are DIVERSITY, EQUITY
Waste Employment not provided to temporary or part-time employees & INCLUSION
ZERO Water
Waste 61 401/3 Parental leave
& INCLUSION
ZERO Carbon
Footprint 62
system Culture
ZERO Carbon
Footprint 63
incident investigation Culture
GRI 305: ZERO Carbon GRI 403:
Emissions Footprint Occupational Health
and Safety Culture
ZERO Carbon
Footprint
ZERO Carbon 65
Footprint
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 86
S/N Indicators Description Location S/N Indicators Description Location
ZERO Accidents
Culture 78
Child Labor incidents of child labor & INCLUSION
ZERO Accidents
Culture
GRI 409:
ZERO Accidents incidents of forced or compulsory labor & INCLUSION
Culture
Occupational Health relationships
RESPONSIBLE
and Safety 403/8 Workers covered by an occupational health and ZERO Accidents 80 GRI 414: S 414/1 New suppliers that were screened using social criteria
safety management system Culture upplier Social
Assessment 414/2 Negative social impacts in the supply chain and RESPONSIBLE
ZERO Accidents 81
Culture
ZERO Irresponsible
ZERO Accidents 416/1 Assessment of the health and safety impacts of Drinking
Culture product and service categories PRODUCTS AND
GRI 416:
DIVERSITY, EQUITY SERVICES
Customer Health
& INCLUSION and Safety
GRI 404: Training and 404/2 Programs for upgrading employee skills and DIVERSITY, EQUITY 83
Education transition assistance programs & INCLUSION SERVICES
performance and career development reviews & INCLUSION labeling Drinking
GRI 417:
DIVERSITY, EQUITY 417/2 Incidents of non-compliance concerning the health ZERO Irresponsible
& INCLUSION and safety impacts of products and services Drinking
Diversity and Equal Labeling
Opportunity 405/2 Ratio of basic salary and remuneration of women DIVERSITY, EQUITY 417/3 Incidents of non-compliance concerning marketing ZERO Irresponsible
to men & INCLUSION communications Drinking
GRI 406: 406/1 Incidents of discrimination and corrective actions DIVERSITY, EQUITY GRI 418: 418/1 Substantiated complaints concerning breaches of COMPLIANCE
Non-discrimination taken & INCLUSION Customer Privacy customer privacy and losses of customer data MANAGEMENT
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 87
SSE ESG INDEX
S/N Indicators Location S/N Indicators Location
Article 21 Aside from disclosing governance related to climate change tackling;
Article 25(i) The company’s GHG emissions across different scopes, categorized ZERO Carbon
strategies; impacts, risks, and opportunities management; indicators; and targets ZERO Carbon
by business unit or facility. Footprint
in accordance with Chapter II of these Guidelines, a disclosing entity shall also Footprint
provide information on its climate response as required by this Section.
Article 25(ii) The company’s GHG emissions across different scopes, categorized ZERO Carbon
Article 22(i) The disclosing entity’s assessment of how climate change impacts its ZERO Carbon by country or region. Footprint
strategies and business models, as well as how it responds to these impacts. Footprint
Article 25(iii) The company's GHG emissions across different scopes, categorized
Article 22(ii) Significant uncertainties the disclosing entity has considered when ZERO Carbon ZERO Carbon
by source type (e.g., combustion, processing, electricity, heating, cooling, and
assessing its climate adaptation. Footprint Footprint
steam).
Article 22(iii) The disclosing entity’s capacity to adjust its strategies and business ZERO Carbon
models over the short, medium, and long term to adapt to climate change. Footprint Article 26 A disclosing entity shall disclose the standards, methods, assumptions,
or calculation tools used for GHG emissions accounting and state how the
Article 23(i) Adjustments made in the company’s current and future strategies, emissions data are consolidated (such as by equity share proportion or financial ZERO Carbon
ZERO Carbon and operating control). If there is a change to the accounting standards, methods, Footprint
business models, and resource allocation to respond to climate risks and
Footprint or assumptions in the reporting period, the disclosing entity shall state the
opportunities.
reasons and specific impacts of these changes.
Article 23(ii) Actions taken or planned by the company to update the production
ZERO Carbon
processes and equipment to directly or indirectly tackle climate risks and Article 27 The disclosing entity shall disclose information on its GHG emissions
Footprint
opportunities. reduction practices, including its participation in the various emissions reduction
Section 1 Section 1
initiatives, emissions reduction targets and measures (e.g., management
Address Address
Article 23(iii) The transition plan created by the company to address climate risks ZERO Carbon strategies, funding, development of technologies), and the outcomes.
Climate Climate
and opportunities and the fundamental assumptions underpinning the plan. Footprint The disclosing entity shall disclose, for each scope level, the amount of GHG
Change Change
emissions directly reduced by such emissions reduction measures as redesigning
Article 23(iv) The resources allocated by the company to execute the transition ZERO Carbon production procedures, updating equipment, improving manufacturing processes, ZERO Carbon
plan. Footprint and switching fuels, and convert the data into metric tons of carbon dioxide Footprint
equivalent. Emissions reductions may be disclosed by each measure used to
ZERO Carbon achieve the reduction.
Article 23(v)The progress in executing the company’s transition plan.
Footprint The disclosing entity shall disclose its registration and trading activities in relation
to the national projects for voluntary GHG emissions reduction and the China
Article 24 A disclosing entity shall calculate and disclose its total GHG emissions Certified Emission Reduction (CCER), as well as its registration and trading of any
in the reporting period, and convert different GHG emissions into metric tons of other emissions reduction initiatives and emissions savings.
carbon dioxide equivalent. The disclosing entity is encouraged to disclose Scope 1
and Scope 2 emissions and, if able to, Scope 3 emissions. Article 28 Any disclosing entity that discloses new technologies, products, and
Any disclosing entity that uses carbon credits shall disclose the source and services that contribute to decarbonization and carbon neutrality and the related
ZERO Carbon R&D progress shall provide an objective and prudent account of the specifics
amount of the carbon credits it uses. Any disclosing entity that participates in
Footprint of the technologies or services developed based on the relevant processes and
carbon emissions trading shall disclose whether it has completed settlement ZERO Carbon
and whether it has been ordered to take corrective actions or is being formally technologies, the R&D investment and progress in the relevant businesses,
Footprint
investigated by a government agency within the reporting period. approvals or certifications it has obtained, its mass production capacity, and its
existing orders, among other information. The disclosing entity is encouraged
The Exchange encourages disclosing entities to engage a third party to audit or to describe the impacts thereof on its current and future financial positions and
provide assurance on the GHG emissions data and other relevant figures. operating results, as well as the possible uncertainties and risks.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 88
S/N Indicators Location S/N Indicators Location
Article 30(i) Information on pollutant discharge, including but not limited to Article 32(v) The efforts and achievements of the disclosing entity in reducing
the types, names, total discharge, certified total discharge, over-discharge, the ecological footprint of its products and their reliance on the ecosystem, ZERO Farming
and environmental performance grade (if any) of or in relation to the key biological species and their habitats, and biological genetic resources over their Footprint
EMISSIONS
pollutants, characteristic pollutants, and the controlled substances specified by lifecycles.
MANAGEMENT
international environmental conventions. Disclosing entities are encouraged to
present details on their pollutant discharge by category in the dimensions of Article 33(i) Risk assessments of the disclosing entity for environmental
EMISSIONS
business units or facilities, type of source, and type of activity. incidents, management protocols to prevent the related risks, and the overview
MANAGEMENT
of contingency plans for environmental emergencies.
Article 30(ii) The disclosing entity should disclose the technologies and Section 2
methods employed to treat pollutants, as well as the building, operation, EMISSIONS Pollution
and results achieved by pollution control facilities (e.g., reduction in the MANAGEMENT Article 33(ii) The dates, locations, and duration of the major environmental
Control and
concentration/intensity or total amount of discharge). emergencies in the reporting period; the classification of these incidents, the
Ecosystem Not involved
responses, and the outcome of these responses; their impacts on the company
Article 30(iii) The targets set by th disclosing entity for the amount of discharge Protection
EMISSIONS and the public; and the corrective actions taken.
reduction of the key pollutants and the specific actions taken to achieve these
MANAGEMENT
targets.
Article 33(iii) Details on any major administrative penalties or criminal charges
Article 30(iv) The impact of pollutant discharge on such groups as its EMISSIONS received by the disclosing entity from an ecological and environmental authority
employees and local communities. MANAGEMENT or other government agencies in the reporting period for an environmental
Not involved
incident, including but not limited to violations, the reasons for and the amount
Article 30(v) Any major administrative penalties received by and any criminal of the penalties, the impacts on the company’s production and operational
liabilities charged against the disclosing entity in the reporting period for EMISSIONS activities, and its corrective actions.
pollutant discharge, and whether there exist significant flaws in the company’s MANAGEMENT
environmental monitoring schemes and risk management practices.
Section 2 Article 35(i) An overview of the disclosing entity’s energy usage, including but
Pollution Article 31(i) The total amounts (in metric tons) and density (e.g., per unit of not limited to the total direct and indirect consumption (expressed in metric tons
EMISSIONS ZERO Carbon
Control and revenue, unit of output, or facility) of hazardous wastes and non-hazardous of standard coal) of energy (e.g., coal, electricity, gas, or oil) categorized by
MANAGEMENT Footprint
Ecosystem wastes produced by the disclosing entity. type, the energy consumption structure, and the overall energy intensity (e.g.,
Protection expressed as per unit of output).
Article 31(ii) The disclosing entity’s treatment methods and disposal of EMISSIONS
hazardous and non-hazardous wastes. MANAGEMENT Article 35(ii) Details of the disclosing entity’s use of clean energy, including but
not limited to wind, solar, hydro, geothermal, biomass, and marine energy, as ZERO Carbon
Article 31(iii) The targets set for the amount of discharge of waste and the EMISSIONS well as the types, total amounts, and proportions of clean energy used such as Footprint
specific actions taken to achieve these targets. MANAGEMENT natural gas.
Article 35(iii) The energy saving goals and the specific actions taken by the
Article 32(i) The discontinuation of any production and operational activities Section 3 disclosing entity, including but not limited to purchasing energy-efficient
ZERO Farming ZERO Carbon
and relevant facilities of the disclosing entity that were in the ecological red Resource production, lighting, and temperature control equipment and implementing
Footprint Footprint
zones. Utilization residual heat and pressure recovery and tiered energy use, and any specific
and Circular challenges encountered in the use of energy.
Article 32(ii) The efforts and achievements of the disclosing entity in the Economy
protection and restoration of the areas around the production and operational
ZERO Farming Article 36(i) An overview of the disclosing entity’s usage of water resources,
sites, key land and marine ecological functional areas, ecological red zones, ZERO Water
Footprint including but not limited to total water consumption (expressed in metric tons)
nature reserves, and other regions with critical ecological functions or Waste
and usage intensity (e.g., per unit of output).
ecologically fragile regions.
Article 32(iii) The efforts and achievements of the disclosing entity in the Article 36(ii) The water conservation goals of the disclosing entity and the
ZERO Farming ZERO Water
protection of wild plants and wildlife and protection and restoration of natural specific actions taken, and any specific challenges encountered in the recycling
Footprint Waste
habitats. and the use of water resources.
Article 32(iv) The efforts and achievements of the disclosing entity in the Article 37(i) The specific goals and plans the disclosing entity established to ZERO Packaging
ZERO Farming
protection, sustainable use, obtainment and benefit-sharing, monitoring and achieve a circular economy. Waste
Footprint
early warning, and risk management of biological genetic resources.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 89
S/N Indicators Location S/N Indicators Location
Article 37(ii) The specific actions taken in the reporting period toward achieving Article 42(iv) Any achievements of the disclosing entity in innovation and their
COMPLIANCE
a circular economy, including reducing the use of resources, improving resource ZERO Packaging application in promoting the new quality productive forces and the impact on
MANAGEMENT
efficiency, using renewable resources, and preventing and reducing waste Waste the broader economy, society, environment, and stakeholders.
Section 3
creation and recycling wastes.
Resource Article 43(i) The fields of the disclosing entity’s scientific and technological
Utilization activities such as research and development, and the ethical standards in science Not applicable
Article 37(iii): The specific progress and achievements of the disclosing entity in
and Circular and technology it adheres to.
attaining the objectives of a circular economy in the reporting period, such as Section 2
Economy ZERO Packaging
the recycling and comprehensive utilization of wastes (including the amount of Innovation- Article 43(ii) Rules within the disclosing entity’s internal management systems
Waste
waste recycled), the consumption of renewable resources, and the proportion of Driven that concern the ethics of science and technology and the company’s
renewable resources in the total amount of resources consumed. Development Not applicable
observance thereof, the establishment of any ethics (review) committee for
and Ethics of science and technology programs and its operations;
Article 39 The disclosing entity shall disclose its contributions to rural Science and
vitalization in the reporting period, including but not limited to: Technology Article 43(iii) Any instances of a violation of the ethics of science and technology
(i) If a high proportion of the disclosing entity’s businesses is in the rural and COMMUNITY by the disclosing entity, including an overview of such violations, the penalties
Not applicable
poverty alleviation areas, it shall, in the context of its business activities, disclose ENGAGEMENT imposed by competent authorities, the internal investigation and accountability
in detail how its support for rural vitalization and for current progress on poverty processes conducted, and the corrective actions taken.
alleviation is integrated into its corporate strategies. Article 43(iv) The disclosing entity’s internal and external training on ethics in
science and technology and efforts to raise public awareness on the related Not applicable
Article 39(ii) The specific actions taken by the disclosing entity to support the topics (if any).
Section 1 Rural specialty industries and local employment in rural areas in the context of its COMMUNITY
business activities in the rural and poverty alleviation areas, as well as other ENGAGEMENT Article 45(i) An overview of the disclosing entity’s supply chain risk management
Vitalization
specific actions taken to support rural revitalization. program, including but not limited to its objectives and specific plans for supply RESPONSIBLE
and Social
chain risk management, risk response mechanisms, actions taken, and their PROCUREMENT
Contributions
Article 39(iii) The specific achievements of the disclosing entity, such as the total outcomes.
COMMUNITY
investment made and the scope and number of beneficiaries in the reporting Article 45(ii) The actions of the disclosing entity, such as mergers, acquisitions,
ENGAGEMENT
period, and the impact on the company’s brand and businesses. or reorganization and technological innovations, and the positive outcomes RESPONSIBLE
related to maintaining supply chain security and increasing the company’s PROCUREMENT
Article 40 The disclosing entity shall provide an overview of its contributions
competitive edge in supply chain management.
to the public and society in the reporting period, including but not limited to
COMMUNITY
details on any charitable and volunteer activities organized, the amount of Article 46 If the balance of accounts payable of the disclosing entity (including
ENGAGEMENT
funds invested, number of personnel and time allocated, the outcomes, and the notes payable) exceeds RMB 30 billion or represents more than 50 percent of
impact on its brand and businesses. the total assets at the end of the reporting period, the disclosing entity shall
disclose the amount of overdue accounts payable as of the end of the reporting
Article 42(i) The disclosing entity’s strategies and objectives for technological
COMPLIANCE Section 3 period and the solutions it plans to implement.
innovation and, if investment is involved, the arrangements for fundraising and
MANAGEMENT Suppliers and If the disclosing entity or one of its subsidiaries publicly indicates through the
the safeguards.
Clients National Enterprise Credit Information Publicity System that it owes an overdue Not applicable
Article 42(ii) Details of the disclosing entity’s innovation activities, such as payment to a small and medium-sized enterprise (“SME”), it shall disclose the
Section 2 the creation of institutional systems for R&D and innovation management, amount of the overdue payment, the payment term for SME suppliers, the
Innovation- its involvement in R&D and innovation projects and technology collaboration COMPLIANCE reasons behind the overdue payment, whether the overdue payment has led to
Driven projects, the amount and percentage of R&D expenditure relative to its MANAGEMENT litigation or arbitration, and the solutions.
Development operating revenue, the number and proportion of R&D personnel, and the The Exchange encourages other disclosing entities to make disclosures in line
and Ethics of number of invention patents applied in its principal businesses. with the provisions of the preceding two paragraphs.
Science and
Technology Article 42(iii) The R&D progress and achievements of the disclosing entity, Article 47(i) The disclosing entity’s establishment, execution, and specific PRODUCTS AND
professional qualifications, and significant awards received, including the measures for product and service quality management systems and policies. SERVICES
COMPLIANCE
number of invention patent applications filed and granted and the number of
MANAGEMENT Article 47(ii) Quality management-related certifications received by the
valid patents; its certification as a high-tech enterprise; and national science and PRODUCTS AND
disclosing entity and the certification status of its quality management systems
technology awards received in the reporting period. SERVICES
for the major products and services.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 90
S/N Indicators Location S/N Indicators Location
Article 52 The Exchange encourages each disclosing entity, in line with
Article 47(iii) Any significant safety or quality liability incidents of the
its realities, to disclose information on the due diligence it has conducted
disclosing entity in the reporting period relating to the disclosing entity’s
PRODUCTS AND during the reporting period in relation to identifying and responding to the
products and services, including the nature of such incidents (e.g., STAKEHOLDER
SERVICES negative sustainability-related impacts or risks, including but not limited to
administrative penalties), their impact and the amount of damages, and the ENGAGEMENT
the organization or personnel carrying out the due diligence, the scope of due
actions taken in response and the progress on those actions.
Section 1 diligence, the procedures for identifying such negative impacts or risks, and
Article 47(iv) The disclosing entity’s establishment and implementation of Sustainability- the details on its response to the relevant negative impacts and risks.
PRODUCTS AND Related
after-sales service and product recall policies, the channels for receiving
SERVICES Governance
customer complaints, and the process and outcome of complaint handling. Article 53(i) The disclosing entity’s establishment and execution of its STAKEHOLDER
Mechanisms
stakeholder engagement rules. ENGAGEMENT
Article 48(i) The development, functioning, and specific measures of the
Section 3 COMPLIANCE
disclosing entity’s data security management system and certifications (if
Suppliers and MANAGEMENT
any). Article 53(ii) The channels of the disclosing entity for receiving and responding
Clients STAKEHOLDER
to stakeholder comments and suggestions and how they are implemented,
Article 48(ii) Details of any data security incidents involving teh disclosing ENGAGEMENT
COMPLIANCE e.g., the method, frequency, and content of the relevant communications.
entity that occurred during the reporting period, including impacts, financial
MANAGEMENT
amounts involved, response measures taken, and progress (if any).
Article 55(i) The disclosing entity’s establishment and operation of an anti-
COMPLIANCE
Article 48(iii) The development and functioning of the disclosing entity’s COMPLIANCE commercial bribery and anti-corruption risk management system, and
MANAGEMENT
customer privacy protection system. MANAGEMENT whether a whistleblower protection policy has been established.
Article 48(iv) Details on any privacy breach incident that occurred in the Article 55(ii) An assessment of the commercial bribery and corruption risks COMPLIANCE
reporting period, including its impact on the disclosing entity, the monetary COMPLIANCE faced by the disclosing entity. MANAGEMENT
amount involved, and the actions taken in response and the progress on those MANAGEMENT
actions. Article 55(iii) The total count and percentage of the board members,
COMPLIANCE
Article 50(i) The employment and compensation policies of the disclosing management-level staff and other employees of the disclosing entity who
MANAGEMENT
entity and how they are implemented, information including but not limited received anti-commercial bribery and anti-corruption training.
to job creation and flexible employment in the reporting period, a breakdown
DIVERSITY,
of the gender and age distribution of employees at the end of the period,
EQUITY &
as well as information on payment of salary and social security, labor Article 55(iv) Details about all commercial bribery and corruption incidents
INCLUSION
disputes, employee turnover, protection of the rights of flexible employees Section 2 involving the disclosing entity that occurred in the reporting period, including
and the compliance, fairness, and transparency of the recruitment and hiring Business the specifics of the resulting dismissals or disciplinary actions against any
COMPLIANCE
procedures. Conduct board members, management-level staff and employees, investigations by
MANAGEMENT
competent authorities, termination or non-renewal of contracts with business
Article 50(ii) Basic information on occupational health and safety status
partners, and any lawsuits against the disclosing entity, its board members,
of the disclosing entity, including, but not limited to, the identification and
management-level staff or employees.
Section 4 assessment of occupational safety risks and their sources, the establishment
Employees and implementation of the occupational health and safety management ZERO Accidents
systems, the obtainment of certain certifications, related training, the Culture Article 56(i) The disclosing entity’s establishment, operation, and specific
investment in and coverage of work-related injury insurance and workplace measures of the management system to prevent unfair competition (e.g., COMPLIANCE
safety liability insurance, and the details of any safety accidents that occurred untrue publicity, implementing monopoly behaviors, and infringing on MANAGEMENT
in the reporting period. commercial secrets).
Article 50(iii) General information on the disclosing entity’s employee career
development and training, including but not limited to the disclosing entity’s Article 56(ii) If the disclosing entity is subject to any litigation or significant
DIVERSITY,
position structure, the mechanisms for employee promotion, selection, and administrative penalties arise from the its anti-competitive practices in the COMPLIANCE
EQUITY &
career development, the type, frequency, and implementation of employee reporting period, it shall disclose the specifics about the litigation, the amount MANAGEMENT
INCLUSION
training, as well as the annual expenditure on training and the training involved, the administrative penalties imposed, and its corrective actions.
coverage rate.
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 91
ESG KPIS
Focus areas Indicators Unit 2025 Focus areas Indicators Unit 2025
CO2 emissions from the use of natural gas tCO2e 64,819.90 Own boreholes m3 302,434.00
CO2 emissions from the use of biogas produced by
tCO2e 0.54 Municipal water m3 5,266,005.19
sewage plants
CO2 emissions from district heating facilities (with
tCO2e 25,042.47 Surface water m3 355,013.81
standard heating systems)
CO2 emissions from the heat energy consumed tCO2e 89,862.91 Water Total water use m3 5,923,453.00
Total CO2 emissions from breweries tCO2e 92,801.49 Total water consumption m3 5,825,527.88
GHG
emissions 3
m /RMB 10,000 in
CO2 emissions from refrigerants tCO2e 2,938.58 Total water consumption intensity 3.96
revenue
GHG emissions (Scope 1) tCO2e 67,759.02 Amount of reclaimed water 10,000 tonnes 20.12
GHG emissions (Scope 2) tCO2e 25,042.47 Ammonia tonnes 19.74
GHG emissions (Scope 1+Scope 2) tCO2e 92,801.49 Total phosphorous tonnes 4.00
tCO2e/ RMB 10,000 in
GHG emissions (Scope 1+Scope 2) intensity 0.06 Suspended solids tonnes 53.96
revenue
Pollutants
COD of raw sewage from per hectoliter of
Heat energy from natural gas MWh 319,940.27 in kg/hl 0.31
beer produced
wastewater
Heat energy generated by biogas from sewage Amount of sewage from per hectoliter of
MWh 2,347.81 hl/hl 0.97
plants beer produced
Heat from district heating facilities (with standard
MWh 85,178.48 Average COD of raw sewage g/m3 3,252.40
heating systems)
Total consumption of power MWh 164,477.64 Total sewage discharge m3 2,775,533.99
Energy Total thermal energy consumption MWh 407,653.79 Total amount of hazardous waste discharge tonnes 91.25
consumption
tonnes/RMB 10,000 in
in production Direct energy consumption MWh 328,272.78 Hazardous waste discharge density 0.0001
Waste revenue
discharge Total amount of non-hazardous waste
Indirect energy consumption MWh 243,671.42 tonnes 107,491.80
discharge
tonnes/RMB 10,000 in
Comprehensive energy consumption MWh 571,944.20 Non-hazardous waste discharge density 0.07
revenue
MWh/RMB 10,000 in
Comprehensive energy consumption intensity 0.39 Black Smoke (dust) tonnes 14.72
revenue Waste gas
emissions
Percentage of renewable electricity % 100 SOx emissions tonnes 1.04
ABOUT THE REPORT KEY ESG PERFORMANCE PRESIDENT’S MESSAGE ABOUT US SIX TTZAB AMBITIONS KEY FOCUS AREAS APPENDIX 92
Focus areas Indicators Unit 2025 Focus areas Indicators Unit 2025
Waste gas
NOx emissions tonnes 34.86 50 or older person 1,132
emissions
Metal tonnes 35,514.00 Number of senior management employees person 81
Glass tonnes 551,136.00 Workforce Number of general management employees person 958
Packaging
management
Plastics tonnes 9,797.00 Number of blue-collar employees person 1,744
Paper tonnes 84,875.00 Number of administrative employees person 3,866
Number of lost-time accidents of
/ 1 Employee turnover rate % 12.72
employees
Number of employee fatal accidents / 0 Male % 65.50
Work safety
Number of lost-time accidents of
/ 0 Female % 34.50
contractors
Number of contractor fatal accidents / 0 19-29 % 27.40
Total workforce person 6,649 30-39 % 37.40
Employee
Number of new employees person 657 turnover 40-49 % 13.60
percentage28
Number of male employees person 4,704 50 or older % 21.60
Number of female employees person 1,945 Number of senior management employees % 0.80
Permanent employees person 6,630 Number of general management employees % 11.20
Workforce Temporary employees person 19 Number of blue-collar employees % 26.00
Full-time employees person 6,630 Number of administrative employees % 61.90
Part-time employees (including interns) person 19 Average hours of training per employee h 42.08
Percentage of employees covered by collective bargaining
agreements
by category/Total employee turnover.
重啤股份环境、社会和公司治理报告 六个零目标
酿造 更美好的现在
和未来
If you have any questions or suggestions, please contact:
Name Xie Yi Name Jane NI
Title Vice president of Corporate Affairs Title Senior Corporate Affairs Manager
Email CNSMChinaCommunication@Carlsberg.aisa Email CNSMChinaCommunication@Carlsberg.aisa
CNSMChinaCommunication@carlsberg.asia CNSMChinaCommunication@carlsberg.asia
Contact Address 12&13F, Kingold Century, No. 62, Jinsui Road, Zhujiang New Contact Address 12&13F, Kingold Century, No. 62, Jinsui Road, Zhujiang New
Town, Tianhe District, Guangzhou, 510623, P.R. China Town, Tianhe District, Guangzhou, 510623, P.R. China
Phone Number 4001600132 Phone Number 4001600132
Website www.carlsbergchina.com.cn
www.carlsbergchina.com.cn Website www.carlsbergchina.com.cn
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