Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental protection
• Employment and Labor Practices
• Employee Health and Workplace Safety
• Employee Development and Training
• Supplier and Supply Chain Management
• Product Responsibility
• Anti-Corruption
• Community Investment

Environmental Achievements

• All operating facilities designed, constructed, and used in accordance with national energy-saving building standards; all construction projects reviewed by third parties and inspected by government authorities; operating equipment procured according to national energy-saving requirements and energy consumption in line with national standards; electric vehicles used inside the market; waste from agricultural products is naturally degradable and recyclable; professional companies handle waste disposal; waste water is mainly from domestic and operational use with no bulk emission or disposal; minimal greenhouse gas emissions.

Social Achievements

• No discrimination in recruitment; office hours comply with employment ordinance and Labor Law; annual medical examinations for employees; contributions to social and medical insurances and provident fund; holiday allowances and bonuses; safe work environment; wide range of employee training programs; compliance with labor regulations; prohibition of child labor; regular waste disposal; strong support from local government; daily sampling inspection of agricultural products to ensure safety.

Governance Achievements

• Strict adherence to anti-corruption regulations; prohibition of bribery and corruption; systematic induction training for new recruits; non-competitive and confidentiality agreements in labor contracts; monthly birthday celebrations, regular sports activities for employees.

Climate Goals & Targets

Environmental Challenges

• Strong headwinds and challenges in the operating environment for retail and commercial property space; underperformance of underground shopping mall businesses; risk of immediate repayment of a USD300 million syndicated loan due to failure to fulfill certain requirements.

Mitigation Strategies

• Disposal of underperforming underground shopping malls to alleviate liquidity risk; sale of majority of underground shopping malls for USD1,000 million, with bidders assuming all related indebtedness and liabilities; full settlement of offshore debts; focus on agriculture wholesale market business.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Procurement through tender, competitive bidding; supplier management and assessment measures.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental protection
• Employee well-being
• Anti-corruption
• Community investment
• Supply chain management

Environmental Achievements

• Operates a greener workplace, reducing carbon footprint, optimizing energy use, reducing waste generation, conserving resources and maintaining indoor environmental quality.
• Uses electric vehicles inside the market.
• All markets entrust professional companies to carry out regular disposal of wastes.
• All wholesale markets use LED energy-saving lighting to reduce electricity consumption.
• The planning, design and construction of storage facilities including cool and temperature-controlled storage have reached the domestic advanced level with good energy-saving performance.

Social Achievements

• Provides medical examinations for employees every year.
• Contributes to various social and medical insurances and provident fund for the staff.
• Provides work-life balance and continuing education programs.
• Provides a wide range of trainings, including new employee induction training, managerial training, business training and professional training.
• Strictly prohibits the employment of child labor and ensures that it contributes to social insurance and provident fund for the employees.
• Organizes a number of cultural and sports activities, including monthly birthday celebrations for related employees, regular football and basketball games for employees, and regular football matches watching activities.

Governance Achievements

• Established systems and procedures to ensure compliance with relevant laws and regulations, including internal control procedures, establishment of code of conduct and internal policies for prevention of bribery, risk management and whistleblowing, staff training, regular review of sufficiency and effectiveness of its systems and procedures, timely communication to relevant departments and staff upon enactment of, or changes in, relevant laws and regulations, and regular reminders of compliance.
• Strictly abides by all Hong Kong and China regulations on anti-corruption.
• Conducts systematic induction trainings for new recruits and includes a non-competitive agreement and a confidentiality agreement in the labor contract to regulate employee behavior and avoid related risks.

Climate Goals & Targets

Environmental Challenges

• Intense competition in the agricultural wholesaling industry in China, which may result in a loss of market share as well as a decrease in profitability.
• Extensive legal compliance, grant of licenses or concessions and their respective requirements, necessary government approvals, as well as safety, hygiene and environmental regulations.
• Fluctuation of vegetable prices and the increase in market competition.

Mitigation Strategies

• Management will closely monitor the Group’s exposure to the fluctuation of exchange rates and take appropriate measures as necessary to minimise any adverse impact that may be caused by such fluctuation.
• The Group has set up systems and procedures to ensure compliance with relevant laws and regulations.
• Conducting power-saving campaigns among vendors and water-saving campaigns in various markets.
• Implementing environmental friendly measures including energy-saving and paper-recycling policies in our offices.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Procurement of most products and services used in our business operation are carried out through tender, strictly following competitive bidding process and implementing a set of supplier management and assessment measures to ensure the quality of products and services, as well as the professionalism during the fulfilment process.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed