CRYOFOCUS MEDTECH (SHANGHAI) CO., LTD.
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:1029.20 tCO2e/year
Scope 1 Emissions:213.32 tCO2e/year
Scope 2 Emissions:31015.54 tCO2e/year
Total Energy Consumption:1780.7 MWh/year
Water Consumption:4970 m3/year
Waste Generated:35.51 tons/year
Carbon Intensity:0.04 tCO2e/thousand of revenue
ESG Focus Areas
- Corporate Governance
- Product Responsibility
- Supply Chain Management
- Green Operation
- Labor Management
- Community Contributions
Environmental Achievements
- Reduced water consumption by 5% in 2022
- Reduced waste gas emission intensity in the production process by optimizing processes
Social Achievements
- Achieved no major safety accidents in 2022
- Organized a total of three large-scale trainings on 15 topics in 2022, with a total of 351 participants and 2,174 training hours (93.60% coverage rate)
- Provided consolation visits to employees in difficulties and those hospitalized
Governance Achievements
- Established a whistle-blowing and complaint mechanism
- Formulated the Anti-fraud Management Policy and other internal policies
- Organized trainings for new employees on business ethics and anti-corruption
Climate Goals & Targets
Long-term Goals:
- Become a global medical device platform in minimally-invasive interventional cryotherapy
Medium-term Goals:
- Further expand product portfolio
- Continue to research and develop underlying and supporting technologies
Short-term Goals:
- Rapidly advance the clinical development and commercialization of product candidates
Environmental Challenges
- Extensive government regulations in the medical device industry
- Competition in the rapidly evolving medical device market in China
- Potential product liability claims
- Securing a stable supply of qualified raw materials
- Maintaining effective internal controls
- Managing growth and expanding operations successfully
- Climate change related risks (hurricanes, floods, extreme temperatures)
Mitigation Strategies
- Established a comprehensive risk management policy and framework
- Implemented a quality management system covering the product life cycle
- Developed a product recall management system
- Established a standardized supplier access and review system
- Implemented internal control measures to ensure compliance with regulations
- Conducted safety inspections and provided shutdown leave for employees to mitigate extreme weather impacts
Supply Chain Management
Supplier Audits: 308 suppliers audited (all in China)
Responsible Procurement
- Standardized supplier access and review system
- Annual supplier evaluation plan
- Classified supplier management
Climate-Related Risks & Opportunities
Physical Risks
- Hurricanes
- Floods
- Extreme heat and cold
Reporting Standards
Frameworks Used: Appendix 27 to the Listing Rules of the Stock Exchange
Certifications: GB/T29490-2013 Intellectual Property Management System
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:798.23 tCO2e
Scope 1 Emissions:29.29 tCO2e
Scope 2 Emissions:3788.95 tCO2e
Total Energy Consumption:1383.4 MWh
Water Consumption:7,496.2 m3
Waste Generated:16.69 tons
Carbon Intensity:0.01949 tCO2e/revenue RMB thousand
ESG Focus Areas
- Corporate Governance
- Product Responsibility
- Supply Chain Management
- Green Operation
- People-Oriented Concept
- Community Contributions
Environmental Achievements
- Achieved a 22% year-on-year decrease in electricity consumption compared to 2022.
Social Achievements
- Organized the first Quality Competency Enhancement Contest to improve quality awareness.
- Achieved 98.72% employee training coverage.
- Maintained an overall employee turnover rate of 13.52%.
Governance Achievements
- Passed the certification of the ISO13485 medical device quality management system.
- Passed the certification of GB/T 29490-2013 Intellectual Property Management System.
- Won the title of Shanghai Patent Pilot Enterprise.
Climate Goals & Targets
Environmental Challenges
- Limited operating history, making it difficult to evaluate current business and predict future performance.
- Substantial competition and rapid market changes.
- Extensive government regulations in the medical device industry.
- Potential product liability claims.
- Limited number of suppliers, potentially impacting stable supply of raw materials.
- Need for additional financing to fund operations.
- Historically received government grants for R&D, but future receipt is uncertain.
Mitigation Strategies
- Established a comprehensive quality management system in accordance with ISO13485:2016.
- Formulated a Product Recall Management System.
- Implemented a strict supplier access and review system.
- Developed a risk management framework to identify, assess, evaluate, and monitor key risks.
- Closely monitors the utilization of cash and cash balances.
- Actively explores and taps carbon reduction opportunities.
Supply Chain Management
Supplier Audits: 275 suppliers evaluated and reviewed
Responsible Procurement
- Strict supplier access and review system; Supplier Questionnaire, Supplier Evaluation Form and Supplier Quality System Review Form used.
Climate-Related Risks & Opportunities
Physical Risks
- Floods, extreme heat or cold, and other extreme weather
Reporting Standards
Frameworks Used: ESG Reporting Guide (Appendix C2 to the Main Board Listing Rules of the Stock Exchange of Hong Kong Limited)
Certifications: ISO13485:2016, GB/T 29490-2013
Awards & Recognition
- Shanghai Patent Pilot Enterprise