Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Implemented ISO14001:2015 Environmental Management System (EMS)
• No violation of relevant local environmental laws and regulations
• Implemented various emission reduction measures (reducing long-distance meetings, using public transport, choosing local suppliers)
• Actively adopted electricity conservation and energy saving measures (strict control of air conditioning usage)
• Developed an environmental operational control system, monitoring sewage
• Implemented waste reduction measures (classifying recyclable waste, increasing recycling rate, replacing plastic products with biodegradable ones, waste paper recycling program)

Social Achievements

• Strictly complied with relevant labour laws and regulations
• Robust and transparent recruitment processes
• Fair and equal opportunity in recruitment, promotion, and dismissal
• Competitive remuneration packages
• Provided employees with a healthy, safe and comfortable working environment
• No records on accidents resulting in death or serious physical injury
• Established long-term employee development mechanism, providing job skills courses
• Strictly prohibits the use of child and forced labour
• Implemented a well-managed procurement system and a rigorous supplier selection process
• Implemented strict quality control
• Provides after-sales services to address customer enquiries
• Established relevant procedures to ensure products and services comply with regulations
• Zero tolerance against any form of bribery, extortion, fraud or money laundering

Governance Achievements

• Established the ESG Taskforce, reporting to the Board of Directors
• Board sets general direction for the Group’s ESG strategies
• Established appropriate and effective management policies and internal control systems for ESG issues

Climate Goals & Targets

Environmental Challenges

• Limited data collection system initially hindering the scope of disclosure
• Insignificant amount of packaging materials generated

Mitigation Strategies

• Plans to expand the scope of disclosure in the future after the Group’s data collection system is more matured

Supply Chain Management

Responsible Procurement

• Rigorous and standardized procurement system and supplier selection process
• Imposed environmental and social risk control requirements on suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Environmental, Social and Governance Reporting Guide (Appendix 27 of the Main Board Listing Rules of the Stock Exchange of Hong Kong Limited)

Certifications: ISO14001:2015

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced total GHG emissions by approximately 24.89% from approximately 285.81 tCO2e in 2019 to approximately 214.66 tCO2e in 2020. This decrease was mainly due to the Singapore government's circuit breaker measures.
• Decreased paper disposal by about 33.94% from approximately 2.21 tonnes in 2019 to approximately 1.46 tonnes in 2020, also due to circuit breaker measures.
• Reduced total energy consumption by about 23.05% from approximately 884,644.46 kWh in 2019 to approximately 680,744.17 kWh in 2020 due to circuit breaker measures.

Social Achievements

• No material non-compliance with employment-related laws and regulations.
• No work-related fatalities or serious injuries.
• Implemented robust and transparent recruitment processes.
• Provided competitive remuneration packages including holidays, annual leave, medical scheme, dental scheme, group insurance, mandatory provident fund, year-end double pay, and discretionary bonus.
• Ensured equal opportunities for all employees, regardless of race, religion, colour, gender, etc.
• Provided occupational safety and health training.
• Implemented preventive measures against child and forced labour.
• Established a well-managed procurement system and rigorous supplier selection process.
• Provided quality control measures and after-sales services.
• Implemented anti-corruption policies and systems.
• Engaged in community investment and participation.

Governance Achievements

• Established an ESG Taskforce reporting to the board of directors.
• Complied with the ESG Reporting Guide as set out in Appendix 27 of the Rules Governing the Listing of Securities of the Stock Exchange of Hong Kong Limited.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions (implicitly mentioned due to global events)
• COVID-19 pandemic impacting operations and data collection

Mitigation Strategies

• Implemented circuit breaker measures in compliance with government regulations.
• Enhanced environmental hygiene in office and showrooms.
• Distributed protective gear and implemented temperature checks.
• Replaced physical meetings with virtual meetings.
• Issued guidelines for staff on COVID-19 infections.

Supply Chain Management

Responsible Procurement

• Rigorous and standardized procurement system and supplier selection process; imposed environmental and social risk control requirements on suppliers; assessment of suppliers’ compliance with laws and regulations and other required standards for health, safety, forced labour and child labour.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: HKEX ESG Reporting Guide

Certifications: ISO 14001:2015

Environmental Metrics

ESG Focus Areas

• Environmental Protection
• Employee Well-being
• Supply Chain Management
• Anti-corruption
• Community Investment

Environmental Achievements

• GHG emissions intensity decreased by about 5.79% from approximately 2.59 tCO2e/employee in 2022 to approximately 2.44 tCO2e/employee in 2023.
• Non-hazardous waste intensity decreased by about 18.18% from approximately 0.011 tonnes/employees in 2022 to approximately 0.009 tonnes/employee in 2023.

Social Achievements

• Provided safety education and trainings to employees.
• Conducted internal reviews on an annual basis to keep employees informed of important content according to WSHA.
• Arranged occupational body check for employees and established occupational health records.
• Conducted customer satisfaction surveys to analyze the level of customer satisfaction and make improvements.

Governance Achievements

• Established an Audit Committee, a Remuneration Committee and a Nomination Committee.
• Implemented a “Whistle-blowing Policy” to set out procedures governing relevant complaints received by the Group.
• All employees are required to comply with the “Code of Conduct and Ethical Guidelines”.

Climate Goals & Targets

Environmental Challenges

• Uncertainties in the outlook of the global economy.
• Sales of motor vehicles affected by Singapore government policies to limit COE quota.
• Slow business growth due to economic recovery and conservative consumption after the pandemic.
• Global turbulence and complex international relations pose challenges.

Mitigation Strategies

• Exercise cost control.
• Uphold quality service to customers.
• Maintain good relationships with suppliers.
• Adopt a cautious approach.
• Focus on strengthening its position in the sales of motor vehicles business in Singapore and increasing its market share.
• Implement various emission reduction measures to reduce emissions from the source.
• Actively adopt electricity conservation and energy-saving measures.

Supply Chain Management

Supplier Audits: 20 major suppliers, regularly monitored and assessed

Responsible Procurement

• Rigorous and standardised procurement system and supplier selection process
• Imposed environmental and social risk control requirements on suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events could halt operations, disrupt supply chains, interrupt business operations, and damage assets.

Transition Risks

• Stricter regulations on vehicles and changes in customer preference towards electric vehicles may negatively impact revenue and competitiveness.

Opportunities

• Capitalise on the opportunities arising from the increase in demand for electric vehicles in Singapore.

Reporting Standards

Frameworks Used: ESG Reporting Guide (Appendix C2 of the Rules Governing the Listing of Securities of the Stock Exchange of Hong Kong Limited)

Certifications: ISO14001:2015