THAI KIN CO., LTD.(British Cayman Islands THAI KIN CO., LTD.)
Climate Impact & Sustainability Data (2019, 2020)
Reporting Period: 2019
Environmental Metrics
ESG Focus Areas
- Environmental Protection
- Labor Relations
- Corporate Governance
Environmental Achievements
- Implemented energy conservation and carbon reduction initiatives, including building solar panels on the rooftop.
- Constructed sewage treatment equipment.
- Excavated a natural storage reservoir and used rainwater for production to conserve water resources.
Social Achievements
- Maintained harmonious labor-management relations and protected employee rights and interests.
- Provided employees with reasonable remuneration and social insurance.
- Organized regular employee training, including safety operation and professional knowledge.
Governance Achievements
- Established an Audit Committee and a Compensation Committee.
- Increased the number of independent directors to three.
- Formulated Corporate Governance Best Practice Principles, Ethical Corporate Management Best Practice Principles, and Corporate Social Responsibility Best Practice Principles.
Climate Goals & Targets
Long-term Goals:
- Create the maximum interests for employees, shareholders, and partners and contribute to the society.
- Attract outstanding talents to join the team.
- Enhance the Group’s image and reputation and strengthen its competitiveness.
- Increase fund raising channels to facilitate business expansion.
- Establish a self-own brand, seek new distributors, and develop a diversified sales model.
- Seek business cooperation opportunities.
Medium-term Goals:
- Improve internal governance, improve operating performance, and achieve sustainable operation.
Short-term Goals:
- Develop more diversified products and expand into other home decoration castings business.
- Actively promote other products to existing customers.
- Develop new customers and establish new cooperation opportunities.
Environmental Challenges
- Impact of the US-China trade war on the global economy and industrial supply chain.
- Volatility of international raw material prices.
- Price competition in the same industry.
- Gradual shortening of the life cycle of end products and shortening of the development timeline of new products.
Mitigation Strategies
- Optimized and improved the production process to reduce production costs.
- Actively developed new product projects and explored other fields.
- Increased the procurement of raw materials strategically when the price is low and developed more suppliers with competitive pricing.
- Strengthened cost control to improve production performance and sought new opportunities for cross-sector cooperation and investment.
- Invested in R&D equipment and quality control equipment and adopted 3D printing technology to develop new products.
Supply Chain Management
Responsible Procurement
- Actively develops more suppliers with competitive pricing.
- Requires major suppliers to comply with green manufacturing policies.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: IFRSs, IASs
Certifications: ISO 9001, GSV
Third-party Assurance: KPMG Taiwan
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Environmental Protection
- Labor Rights
- Ethical Corporate Management
Environmental Achievements
- Completed phase I solar roof in April 2020, reducing electricity bill by 12.53% compared to 2019 despite a 26% increase in operating revenue.
- Excavated an artificial lake to retain rainwater for production purposes.
- Built sewage processing equipment.
- Promote the e-system for document management to reduce paper-based operations.
- Recycle and reuse zinc-aluminum waste.
Social Achievements
- Maintained harmonious labor-capital relations, complying with labor laws and providing adequate employee training.
- Established reasonable employee benefit measures (salaries, leaves, year-end parties, commuter buses, employee uniforms, staff canteen, employee dormitory, perfect attendance bonuses).
- Provided a healthy and safe work environment with regular safety training and a plant clinic.
- Implemented effective career development and training plans for employees.
Governance Achievements
- Established an Audit Committee and Remuneration Committee.
- Increased the number of Independent Directors to three.
- Disclosed relevant information on the Company's website and MOPS.
- Implemented a whistleblowing system for illegal and unethical behaviors.
Climate Goals & Targets
Long-term Goals:
- Create the maximum interests for employees, shareholders, and partners and contribute to the society.
- Attract outstanding talents to join the team.
- Enhance the Group’s image and reputation and strengthen its competitiveness.
- Increase fund raising channels to facilitate business expansion.
- Establish a self-own brand, seek new distributors, and develop a diversified sales model.
- Seek business cooperation opportunities.
Medium-term Goals:
- Improve internal governance, improve operating performance, and achieve sustainable operation.
Short-term Goals:
- Develop more diversified products and expand into other home decoration castings business.
- Actively promote other products to existing customers.
- Develop new customers and establish new cooperation opportunities.
Environmental Challenges
- Impact of housing business cycle on product demand.
- Volatility of international raw material prices.
- Price competition in the same industry.
- Gradual shortening of product life cycles and development timelines.
Mitigation Strategies
- Monitoring customer needs, updating market information, maintaining close cooperation with existing customers, developing new customers, expanding sales channels, and diversifying products.
- Adjusting raw material inventory, purchasing at low prices, increasing use of green recycled materials, developing new materials to reduce reliance on single metals.
- Providing one-stop services, process improvement, streamlined manufacturing, increased automation to avoid price wars.
- Investing in R&D equipment, adopting 3D printing technology, and developing self-owned molds to shorten product development time.
Supply Chain Management
Responsible Procurement
- Require suppliers to sign non-disclosure agreements and letters of consent for issues of environmental protection, occupational safety and health, or labor human rights.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: IFRSs, IASs, IFRIC, SIC
Certifications: ISO 9001, GSV, SQP
Third-party Assurance: KPMG Taiwan