TABLE OF CONTENTS

01 ABOUT THE REPORT 04 ENVIRONMENT 07 CORPORATE GOVERNANCE

Environmental Management System 19 Improvement of Corporate Governance 83

02 Climate Change Response 21 Identification and Analysis of Material Topic 87PRESIDENT'S MESSAGE Water Resources Management 25 Economic Benefits 92

Green Value Chain 27 Compliance Management 93

Green Operation Management 31 Business Ethics Management 94

03 ABOUT GREENWAY Biodiversity Protection 32 Information Security and Privacy Protection 97Internal Audit 98Company Profile 05

Corporate Culture 09

HUMAN RIGHTS

External Organizations Participation 11

Company Honors 12 05 Human Rights Protection 35

08 SUSTAINABLE DEVELOPMENTCertification Achieved 14 Diversity and Inclusion 37 PERFORMANCE TABLE

Key Performance of Sustainable 15 Compensation and Benefits 39

Development in 2024 Economic Performance 99

Talent Introduction and Development 42

Environmental Performance 99

Employee Communication 48

Social Performance 101

Occupational Health and Safety 49

06 SOCIETY 09 INDICATOR INDEX 105 R&D Innovation 55

Quality Management 63

Customer Service and Support 73

Sustainable Supply Chain 74

GLOSSARY OF PROPER NOUNS 110

Industry Development Promotion 77 10

Social Welfare 79

01 02ABOUT THE REPORT 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 01 02

ABOUT THE REPORT

This Report is the first Environment Society and Governance Report released by Guangdong Greenway Technology Co. Ltd. (hereinafter Boundary Scope:

referred to as the "Company" or "We"). The purpose of this Report is to comprehensively and transparently present to stakeholders the

Company's concepts practices performance and related initiatives in the areas of Environmental Social and Governance aspects. This Company Name Address Enterprise Type Short Name

Report focuses on how the Company balances economic benefits with environmental and social impacts during business operations and

Guangdong Greenway No. 6 Tonghuan Road Tongsha Dongcheng Street

how effective governance structure ensures the achievement of sustainable development goals. Through this Report we aim to enhance Technology Co. Ltd. Dongguan City Guangdong Province Group Headquarters Greenway

Stakeholders' understanding of the Company's ESG efforts strengthen communication and cooperation and jointly promote sustainable

development. Dongguan K-tech New No. 3 Lingang Road Wangniudun Town

Energy Co. Ltd. Dongguan City Guangdong Province Greenway subsidiary K-tech

Basis of Compilation

Restatements of Information

This Report is compiled with reference to the Sustainable Development Reporting Standards (GRI Standards 2021) issued by the Global

Reporting Initiative while also considering the topics of the European Union's Corporate Sustainability Reporting Directive (CSRD).This is the first time for the Company to disclose an Environmental Social and Governance Report and there is currently no need for restate-

ment. If it is later found that the ESG information disclosed during the reporting period is inaccurate or requires additional explanation the

Time Range Company will restate the relevant information at an appropriate time (such as the release of the next annual report or a temporary

announcement) in accordance with relevant regulations and disclosure principles explaining the reasons for the restatement and specific

This Report covers the period from January 1 2024 to December 31 2024 and aims to present the Company's overall performance in ESG changes to ensure that stakeholders can access accurate and coherent ESG information.during this time frame. To enhance the comparability and completeness of the Report certain data may extend beyond this period. Some

parts of this Report are appropriately traced back to previous years or extended to 2025.Feedback Channels

Report Frequency

The Company attaches great importance to information communication with stakeholders in the field of sustainable development. We look

forward to receiving comments and suggestions from readers after they have read this Report. Please give feedback according to the

The Company has established an annual cycle for the release frequency of ESG reports. Each year the Company systematically reviews and following contact information to help us further improve our sustainable development strategy and pursue better sustainable development

summarizes the work carried out achievements made and challenges faced in the ESG area over the past year while integrating the performance.relevant information into an ESG Report for external release. Email:dms@greenway-battery.com Phone: 0086-0769-27282088-889

Report Data Source and Scope

External Assurance

Data Source:

Explanation of External Assurance

Internal Operation System: Extract environmental-related data such as energy consumption and waste management from the Company's This Report has been authenticated by SGS-CSTC Standards Technical Services Co. Ltd. (SGS) an independent third party. Please refer to

environmental management system; Obtain employee recruitment training compensation and benefits data from the human resources the ASSURANCE STATEMENT for details.management system; Collect data on corporate governance structure risk management and compliance through finance and internal

governance systems. [Report Release Form]

Internal Statistical Report: Business-related statistical reports regularly compiled and submitted by various departments such as Customer This Report is released in electronic document form in Chinese and English versions. You can obtain this Report through the following

Satisfaction Survey statistics from the Sales Department and Employee Satisfaction Survey. These reports after being summarized and website:

reviewed serve as an important supplement to the data of the ESG report. https://www.greenway-battery.com

The 2024 financial statements of Guangdong Greenway Technology Co. Ltd.; Unless otherwise specified the amounts shown in this Report

are presented in RMB.Questionnaire Survey: For data that is difficult to obtain directly through the system such as employees' sense of identity with the corpo-

rate culture and suppliers' evaluation of cooperation fairness relevant information is collected through questionnaire surveys conducted

among employees suppliers customers and other stakeholders and then organized and analyzed.董事长致辞 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 03 04

PRESIDENT'S MESSAGE

Dear shareholders partners customers and friends from all sectors of We are well aware that the path to sustainable development is not smooth but we firmly believe that technology and

society: environmental protection will eventually coexist harmoniously. In the future we will continue to increase investment in the

The year 2024 is a year of rapid development for the New Energy research and development of green energy working together with global customers and partners to contribute to achieving

industry as well as a year full of challenges. From the uncertainties in the the carbon neutrality goal. To this end we propose three core directions:

global market to the rapid iteration of technological innovation we deeply Green Manufacturing: By building intelligent factories and introducing green energy we aim to reduce energy consump-

feel the demands of the external environment on the resilience and tion and emissions in the production process. The Company's production base will strive to achieve the carbon neutrality goal

innovation capabilities of enterprises. In this context the Company has as soon as possible becoming a benchmark for green manufacturing in the industry.always adhered to the mission of "bringing green battery to every family Circular Economy: Through innovative welding-free technology and integrated full-stack R&D capabilities we improve

every nation and keeping the Earth clean." By continuously optimizing product repairability and enable cascade utilization thereby extending battery lifecycle and reducing resource consumption

product performance enhancing operational efficiency and strengthen- across the value chain.ing the international layout we have steadily advanced in the face of challenges and achieved good results. Global layout: We actively participate in the international market establishing a global industrial chain and in an open

Facing the global goals of climate change and Carbon neutrality sustainable development has become the focus of attention manner we join hands with more partners to promote the popularization and application of new energy technology.from all sectors and green energy will become the main battlefield in the fight against global climate change. As a technology Looking ahead we will continue to provide customized and standardized battery solutions to meet the green energy

company committed to becoming the world's most competitive leader in lithium battery solutions the Company is well aware of needs of different global customer groups and constantly seek new green battery application opportunities. May we walk

the great significance of sustainable development for the future. We set scientific carbon emission reduction targets and apply hand in hand and jointly write a new chapter for a green future!

green manufacturing technology further promoting the popularization of new energy technology. We adhere to the business

philosophy of "customer-centric integrity and innovation" further optimizing the corporate governance structure enhancing

transparency and decision-making efficiency to earn the trust of customers and society. We always regard employees as the most President: Zhang Zhiping

important asset of the enterprise. We continuously improve the career development and training mechanisms and create a safe and

inclusive working environment. At the same time we actively participate in community public welfare activities and fulfill corporate

social responsibility.ABOUT GREENWAY

The Company highly values technological innovation possessing an R&D team of 322 people holding 716 authorized

COMPANY PROFILE domestic and international patents including 645 domestic patents and 71 international patents with 67 invention patents.Additionally the Company has established the "Guangdong Lithium Battery Energy Storage Device and Intelligent Manage-

ment System Engineering Technology Research Center". Its core laboratory has been accredited by the China National

Guangdong Greenway Technology Co. Ltd. was established in 2010 and is committed to providing high-performance Accreditation Service for Conformity Assessment (CNAS) and as an SGS Partner Laboratory deepening the integration of

and customized ODM and OEM lightweight lithium battery solutions to global customers. With its outstanding innovation global testing resources.capabilities and deep industry accumulation the Company has developed into a leading enterprise in the global lightweight The Company has built a comprehensive intelligent manufacturing system covering project evaluation solution

lithium battery field relentlessly promoting the intelligent and green upgrade of the lightweight lithium battery industry. design material research cell R&D and manufacturing BMS (Battery Management System) developmentstructural design

In June 2021 the Company successfully listed on the STAR Market becoming the first A-share listed company in battery assembly and production product quality control and after-sales service creating an industry-leading battery full

China with lithium batteries for light vehicles as its core business. The Company has established three advanced manufac- lifecycle management system. Relying on its strong technical strength and a complete industrial chain layout the Company

turing and R&D bases in Dongguan including the headquarters base with a building area of 108000 square meters the continuously optimizes the green manufacturing model providing high safety high energy efficiency and long-life lithium

manufacturing base for consumer electronics battery packs covering an area of 35000 square meters and the R&D and battery products to support the global energy transition offering the most competitive lithium battery solutions globally to

production base for battery cells with an area of 110000 square meters. customers.ABOUT GREENWAY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 07 08

BUSINESS INTRODUCTION GLOBAL LAYOUT

The Company is an enterprise in the field of light power lithium batteries in China and its business layout centers around With a global perspective the Company actively builds an international network to ensure that its products and services

the "three pillars"—lithium batteries for light vehicles energy storage batteries and consumer electronics batteries. cover major global markets forming a global and diversified industrial layout. The main layouts include:

The light vehicle battery business as a core segment primarily targets the European and American electric bicycles

domestic new national standard electric bicycles and overseas customized electric motorcycle markets. The Company is

optimistic about the potential of the increasing penetration rate of electric bicycles in Europe and the market of electric European A customer service center has been established in Belgium to quickly respond to the needs of

two-wheelers in Southeast Asia. It plans to seek business growth by deploying domestic instant delivery battery swapping market the local market; at the same time a production base in Hungary is being prepared.services and expanding into Asian African and Latin American markets.Energy storage batteries are widely used in scenarios such as portable energy storage home energy storage and

commercial and industrial energy storage. In the future the Company will promote the development of the energy storage North American A sales representative office has been set up in Dallas the United States.market

business by leveraging technology upgrades policy benefits and the exploration of emerging markets.Consumer electronics batteries still hold an important position due to their high cost-performance ratio and safety. The

battery cell business has shown remarkable performance. Benefiting from the reduction in raw material prices and large Relying on the Overseas Procurement and Sales center in Hong Kong China a stable supply Asia-Pacific

cylindrical cell technology its revenue has increased year-on-year and the cost has been optimized through integrated chain system has been established; the Indonesia base integrates production and customer region

service effectively covering the Southeast Asian market.design.Representative Products

Separator Separator Cathode Cathode tab

Belgium Hungary (in preparation)

Dallas the United States

34145 Dongcheng Dongguan China

Golden Wangniudun Dongguan ChinaAnode Anode tab

Hoop Stick

Battery cell composition Finished battery cell Battery module Hong Kong China

The Greenway Golden Hoop Stick Battery features high safety long lifespan and low operating

temperature rise. It can pass the industry's most stringent Single cell nail penetration test and is

compatible with multiple chemical systems.Surabaya Indonesia

The Company has a diversified team with members from different countries and cultural backgrounds possessing

PACK multilingual communication skills. The Company attaches great importance to the collaborative cooperation of cross-cultural

Products teams. Through regular cross-cultural training and communication activities it enhances the understanding and cooperation

among team members fully demonstrating the Company's cultural diversity and inclusiveness.The Company's products have passed a number of international certifications including ISO (International Organization

for Standardization) CE (European Conformity) FCC (Federal Communications Commission USA) and so on. In addition we

Light vehicle Energy storage Consumer New

battery battery battery applications actively participate in the formulation of global standards. As a main drafting organization we have participated in the formu-

lation of national mandatory standards and play an important role in the international standard system.ABOUT GREENWAY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 09 10

2023

DEVELOPMENT HISTORY Headquarters base put into

production; Mass production of

Since its establishment in 2010 the Company has undergone three strategic leaps achieving a leapfrog development large cylindrical lithium cells

from a regional service provider to a leader in global lithium battery solutions. Driven by technological innovation the Compa-

ny's product matrix covers three core application scenarios: green travel smart energy storage and consumer electronics.Through a forward-looking global layout it has built an international operation system integrating research production and 2021

sales. After being listed on the STAR Market in 2021 the Company accelerated its transformation towards high-end intelligent Listed on STAR Market

manufacturing and achieved significant breakthroughs in the core technology field of battery cells. It has now formed a vertical and launch of home

integration solution encompassing battery cells battery management systems and battery assembly continuously leading the energy storage

green energy revolution. 2018

Launch of portable

2017 energy storage

Acquisition of Dong

2011 Guan K-Tech New 2024

Launch of Ebike Battery Energy Co. Ltd.Indonesian subsidiary put

into production

2022

Wangniudun base put into production; Small and

medium-sized commercial and industrial energy

storage went on the market

2020

Construction of

headquarters base

2017

2016 Establishment of

2010 Launch of Electric European Company

Establishment of the Company Motorcycle Battery

Greenway's

CORPORATE CULTURE To bring green batteries to every household every nation keeping our Mission planet pristine

The Company upholds the core philosophy of "technology empowers green development" with the mission of "bringing Greenway's

Vision To become the world's most competitive leader in lithium battery solutions

green battery to every home every country and keeping the earth clean" striving to become a leader in global lithium battery

solutions. The Company adheres to innovation-driven development by establishing a value system of "Customer First - Integ-

rity & Innovation; Quality as Priority - Safety & Reliability; People-Centric - Respect & Growth" to deliver safe and reliable

green energy products. We consistently uphold sustainable development principles committed to delivering clean energy Greenway's Customer First - Integrity & Innovation;Quality as Priority - Safety & Reliability;

solutions to every household and nation. We contribute corporate efforts toward carbon neutrality goals advancing a harmo- Values People-Centric - Respect & Growth.nious future where humanity and nature thrive together.ABOUT GREENWAY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 11 12

EXTERNAL ORGANIZATIONS PARTICIPATION COMPANY HONORS

The Company has established a "four-dimensional integrated" industrial value community achieving global resource As a global leader in providing distributed energy solutions we have always adhered to the philosophy of technological

integration through a three-dimensional industrial collaboration network. At the industrial level the Company focuses on the innovation and green development committed to the deep integration of new energy and energy storage technology. The

"Lithium Batteries for Light Electric Vehicles Energy Storage Batteries Consumer Electronics Batteries" as the three main Company always takes the needs of users as the core continuously overcoming key technical challenges and persistently

drivers completing a strategic layout in core tracks. At the regional level the Dongguan Lithium Battery Industry Cluster is used promoting the iterative upgrade of products. With high-quality products and excellent services we have gained widespread

as a fulcrum to create a collaborative innovation demonstration platform for industry academia and research. At the national trust from customers and industry partners and have been honored with numerous awards. These honors not only witness

level the Company deeply participates in the formulation of power supply industry standards. At the international level the Greenway's outstanding achievements in innovation and R&D but also fully reflect the industry's recognition of our efforts to

European Light Electric Vehicle Association is leveraged to build cross-border technology bridges and establish a dual circula- drive energy transformation with products and support the sustainable development strategy.tion channel for the Eurasian market. This multi-level participation mechanism not only enables global dissemination of technical

standards and business models but also brings an ecological feedback effect through efficient resource coupling ultimately

constructing a green energy community centered on an innovative value chain.S/N Unit Membership Level

1 European Light Electric Vehicle Association Member unit

Standard Working Group on Lithium-ion Battery

2 and Similar Products Full Member

3 China Industrial Association of Power Sources Director Unit

China Chamber of Commerce for Import and Export of

4 Machinery and Electronic Products Member unit First batch of enterprises passing the mandatory First Batch of Up-to-standard Products of

national standard evaluation of GB43854-2024 Lithium-ion Batteries for Electric Bicycles

Safety Technical Specification for Lithium-ion

5 China Chamber of Commerce for Motorcycle Member unit Batteries for Electric Bicycle

China Electronics Standardization Institute Guangdong Power and Energy Storage Battery

6 China Bicycle Association Member unit Beijing Bicycle Industry Association Standardization Technical Committee

7 Guangdong Battery Industry Association Vice President Unit

8 Guangdong Electric Vehicle Association Vice President Unit

9 Guangdong Power and Energy Storage Battery Standardization Member

Technical Committee

10 Dongguan Battery Industry Association Vice President Unit

11 Dongguan Energy Storage Industry Alliance Chairman Unit

12 Dongguan Listed Companies Association Supervisor Unit

Top 10 Brands of Lithium Batteries for The Tenth Qidian Lithium Battery Golden Tripod Award in

13 Dongguan High-tech Industry Association Vice President Unit Two-wheeled Vehicles in China in 2024 2024 & The Enterprise with Annual Influence in the Battery

Industry for Two-wheeled Vehicles in China in 2024

Shenzhen Qidian Research and Consulting Company Shenzhen Qidian Research and Consulting CompanyABOUT GREENWAY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 13 14

CERTIFICATION ACHIEVED

In the process of promoting sustainable development and lean management the Company actively aligns with internation-

al standards establishing a comprehensive management system and obtaining multiple authoritative certifications covering

areas such as quality management environmental management and occupational health and safety. These authentications not

only highlight the Company's high standards in lean management green manufacturing and social responsibility but also lay a

solid foundation for global development further enhancing market competitiveness and brand influence. To ensure the continu-

ous and effective operation of the system the Company organizes internal auditors for regular audits annually and invites

authoritative third-party institutions for external audits to ensure the authenticity and validity of the certificates.Fifth Batch of Organizations Passing National Excellent Brand Enterprise in Product Quality and

the Sodium-ion Battery Evaluation Safety Traceability of Electric Bicycles in 2024

China Energy Storage Alliance Traceability Service Platform for the Electric Bicycle Industry Authentication Greenway K-tech

ISO 45001:2018 Occupational Health and Safety Management System √ √

ISO 14001:2015 Environmental Management System √ √

IATF 16949:2016 Quality Management System Requirements for

√√

Automotive Production and Relevant Service Parts Organizations

General Rules for Lithium-ion Undertaking Unit of the Key R&D Project in Dongguan in

Battery for Electric Bicycle Quality 2024: R&D and Industrialization Project of "High-perfor-

Classification Assessment mance and Low-cost Sodium-ion Batteries for Energy ISO 13485:2016 Medical Device Quality Management System √

Storage and Their Key Materials"

China Battery Industry Association Dongguan Science and Technology Bureau

IECQ 080000:2017 Hazardous Substance Process √

Management (HSPM) System

ISO/IEC 17025:2017 General requirements for the competence of

√

testing and calibration laboratories

High-tech Enterprise in 2024

Department of Science and Technology of Guangdong ProvinceABOUT GREENWAY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 15 16

KEY PERFORMANCE OF SUSTAINABLE DEVELOPMENT IN 2024

Corporate Governance Environment

In year 2024 corruption incidents were In year 2024 conflict of interest In year 2024 fraud incidents were In year 2024 total greenhouse gas Scope 1 Scope 2

incidents were emissions were

0 0 0 14227.71tCO2e 3684.43tCO2e 10543.28tCO e 042

In year 2024 money laundering In year 2024 malicious competition In year 2024 tax evasion incidents were In year 2024 electricity consumption was In year 2024 purchased green In year 2024 water consumption was

incidents were incidents were electricity was

0 0 0 35953790kWh 6736000kWh 230183m3

In year 2024number of compliance training sessions were In year 2024 FSC certified packaging materials usage was

12 7.54t

Social Responsibilities

In year 2024 child labor incidents were In year 2024 discrimination incidents were 2In year 2024 employee collective contract signing In year 2024 occupational disease incidence rate was

coverage rate was

00100%0

In year 2024 forced or compulsory labor incidents were In year 2024 human rights awareness training coverage rate: In year 2024 occupational disease examination In year 2024 mental health incidents:

coverage rate was

0100%￥100%

0

Note: The above greenhouse gas emission data only includes K-Tech.04 05

0404

ENVIRONMENT

Environmental Management System 19

Climate Change Response 21

Water Resources Management 25

Green Value Chain 27

Green Operation Management 31 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORTBiodiversity Protection 32 GUANGDONG GREENWAY TECHNOLOGY CO. LTD.ENVIRONMENT 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 19 20

ENVIRONMENTAL MANAGEMENT SYSTEM ENVIRONMENTAL REGULATIONS COMPLIANCE

The Company implements a full-process control strategy in the field of three industrial wastes (waste water exhaust gas

solid waste) management. It reduces pollution at the source through process innovation and relies on a compliant disposal

In the global process of sustainable development the Company is guided by the concept of balancing environmental and social responsibility system to ensure that the final treatment meets the discharge standards. A dynamic policy response mechanism is established

making environmental governance the core path for the enterprise to fulfill its ecological responsibility. We strictly adhere to international and domestic to track government regulations updates in real-time and regularly conducts environmental compliance audits and risk inves-

environmental regulations continuously optimizing the environmental management system and management structure promoting the deep integra- tigations at production bases. In year 2024 no illegal or non-compliant incidents occurred at any production base.tion of green practices and business operations. Through a systematic environmental management mechanism we continuously optimize environmen- Meanwhile K-tech has established a multi-level environmental capability enhancement system regularly conducting

tal performance indicators simultaneously explore low-carbon transition paths so as to promote synergistic development with the ecological environ- special environmental training and energy-saving technology knowledge dissemination covering management to frontline

ment injecting enterprise strength into a global sustainable future. employees. The courses cover air quality management water pollution prevention solid waste resource utilization soil remedi-

ation technology toxic and hazardous substances control environmental regulations interpretation as well as skills enhance-

ment modules like environmental reporting system operation and environmental compliance audit practices continuously

ENVIRONMENTAL COMPLIANCE optimizing environmental performance indicators through the PDCA (Plan-Do-Check-Act) cycle management system.The Company strictly follows the ISO 14001:2015 standard and has established a scientific and comprehensive environmental management

system. Taking "complying with regulations protecting the environment increasing sources of income and reducing expenditure and making continu-

ous improvements" as its policy the Company formulates and implements a series of environmental protection management systems. Combining its ENVIRONMENTAL INVESTMENT

own operational characteristics the Company has compiled a Management Manual that includes the environmental management system as a guiding

document for the construction of the environmental management system systematically guiding the development and continuous improvement of The Company's environmental investment is approximately 6.761 million RMB aiming to achieve Sustainable Development

environmental protection work. and social responsibility goals. The Company actively invests in R&D and innovation and is committed to developing environ-

Through environmental management policies objectives and performance the Company supervises the implementation and improvement of mental protection technologies to achieve energy conservation and emission reduction energy conservation water reduction

policies related to environmental management organizing each production base to carry out environmental factor identification compliance review emission reduction and improvement of water resource recycling efficiency etc. so as to effectively cope with environmental

internal audit and management review. In accordance with environmental management policies and policies the Company promotes the implementa- pressure and at the same time drive the enterprise towards the path of sustainable development. Through scientific research

tion of various environmental protection systems drives the completion of various indicators and continuously tracks the company's environmental and development investment and technological innovation the Company's environmental investment has made significant

management performance reflected by these indicators. The Company has established an Environmental Factor Identification and Evaluation Control contributions to the realization of a green economy and sustainable development.Procedure to systematically control indicators such as environmental compliance and key work execution. For waste water exhaust gas noise and

waste management the Company has established a series of control systems such as the Water Noise and Gas Pollution Management Control Proce- [Key Performance: Environmental Input]

dure Emergency Preparedness and Response Control Procedure and Greenway Emergency Environmental Response Plan ensuring the Company

controls environmental risks and provides assurance for the standardized operation and effective implementation of the environmental management Performance Indicators Unit Greenway K-tech

system.Total Environmental Protection Investment in 2024 CNY10000 50.09 626.01

As of the end of the reporting period both Greenway and

its subsidiary K-tech have completed the ISO 14001:2015

Environmental Management System Accreditation Audit fully

reflecting the Company's standardization and standardization

level in environmental management.Greenway ISO 14001 Environmental K-tech ISO 14001 Environmental

Management System Management System

Accreditation Certificate Accreditation CertificateENVIRONMENT 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 21 22

CLIMATE CHANGE RESPONSE IMPROVING ENERGY USE EFFICIENCY

The Company adheres to the sustainable development concept making energy management a core strategy for promot-

Climate Change is one of the most pressing ecological challenges globally at present. The Company actively responds to ing green manufacturing and low-carbon transition. The Company plans to establish an energy management system continu-

low-carbon development formulating a low-carbon transition path suitable for the Company's sustainable development. By ously carry out lean production improvement improve energy use efficiency and actively promote the application of renew-

quantifying greenhouse gases emissions and exploring multi-scenario decarbonization solutions it accelerates the achieve- able energy and other multi-dimensional measures to fully implement green operation. During the reporting period the

ment of 100% coverage of renewable energy and net zero emissions goals. Company strictly monitored and controlled energy consumption with primary direct energy consumption including natural

gas gasoline and diesel as fossil fuels and indirect energy consumption covering purchased electricity and steam. By imple-

menting a series of energy conservation and consumption reduction measures the Company effectively reduced the energy

consumption per unit of output value and made a positive contribution to reducing carbon emissions.GREENHOUSE GAS EMISSIONS MANAGEMENT The Company attaches great importance to the construction of the energy management system. Referring to the require-

ments and use guidelines of the ISO 50001:2018 energy management system it systematically constructs and continuously

improves the energy management mechanism. The Company has formulated and implemented the Energy and Resource

The Company following the international standards of ISO14064-1:2018 Greenhouse Gases - Part 1: Specification with

Consumption Management Procedure to provide institutional assurance for the standardized and systematic operation of

Guidance at the Organization Level for Quantification and Reporting of Greenhouse Gas Emissions and Removal has estab-

energy management.lished a systematic greenhouse gas inventory mechanism. During the reporting period Scope 1 and Scope 2 greenhouse gas

quantification inventories have been conducted for the K-tech production base. In the future the Company will continue to

improve the full-process management system of carbon emissions and deepen the implementation of the green development Case: Greenway New Construction Land Energy Saving Audit

strategy.Greenway's Dongcheng Headquarters and R&D and Production Capital Increase and

Expansion Project in Dongguan City in 2024 is guided by green and low-carbon princi-

[Key Performance: Greenhouse Gas Emissions Summary] Note: ples constructing a systematic energy-saving implementation plan. The project strictly

(1) Data includes only K-tech. follows national and local energy saving regulations comprehensively improving the

Performance Indicators 2024 (2) Scope 1 includes direct green-

house gas emissions from resources energy efficiency level through measures such as facility energy saving and design

Scope 1 (tCO2e) 3684.43 owned or controlled by the Company. energy saving. Incorporating energy-saving technology and environmental materials in

Scope 2 includes indirect greenhouse architectural design and adopting efficient equipment in the production process this

gas emissions from Purchased Elec-

Scope 2 (tCO2e) 10543.28 tricity and Scope 3 emissions have plan successfully passed the energy-saving inspection by the competent authority.not yet been statistically calculated.Total emissions (Scope 1 + Scope 2) (tCO2e) 14227.71 Project Energy ConservationAcceptance Report

In terms of practice the Company actively implements energy-saving and efficiency-enhancing measures in the produc-

The Company actively enhances its carbon management level by signing green tion and manufacturing sector promoting efficient energy utilization through technological innovation and process optimiza-

power purchase agreements and other methods. During the reporting period K-tech tion. During the reporting period the Company comprehensively advanced multiple energy-saving optimization projects such

successfully purchased 6736 megawatt-hours of green electricity significantly reduc- as lighting air compression improvement exhaust heat dissipation air conditioning cooling tower energy saving facility

ing carbon emissions during operations. In the future Greenway will incorporate the usage optimization and operational energy saving achieving significant energy conservation and emission reduction results

rooftop photovoltaic project in the factory area in its energy conservation and emis- thereby making a positive contribution to mitigating climate change.sion reduction plan and will continue to increase the proportion of renewable energy

used providing strong support for achieving low-carbon development goals. [Case: Energy-Saving Plan in 2024]

Plan: Energy saving measures Project Execution Photos

[Key Performance: Green Power Purchase] Green Power Purchase Certificate 1. Replace lights in areas where they are

always on such as the elevator hall

Performance Indicators Unit Greenway K-tech Lighting elevator car underground garage

restroom workshop national road and GreenwayImprovement

office corridor with motion sensor lights

Externally Purchased Green Power kWh 0 6736000 or switch to time control.ENVIRONMENT 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 23 24

[Case: Energy-Saving Plan in 2024] [Case: Energy-Saving Plan in 2024]

Plan: Energy saving measures Project Execution Photos Plan: Energy saving measures Project Execution Photos

1. Adjust the number of air compressors in operation

or the size of the air compressors in a timely manner

according to the production situation. 1. Through pipeline modification trans-

2. Check the air compressor pipelines and equipment Steam recovery port the used steam return water from

Improvement of K-techfor leaks as planned. Greenway energy saving the workshop to the high-temperature

air compressor 3. Add a new type of adsorption dryer to save 4% to K-tech aging room for use.

5% of the compressed air consumption.

1. Change the operation mode of the exhaust fans in

the weak current wells and machine rooms from

running continuously for 24 hours throughout the year

to running all day in summer and autumn and running

effectively for 4 hours per day in spring and winter.

2. Change the operation mode of the exhaust fans in [Case: Greenway's Multi-Scenario Energy Storage Demonstration Platform]

Exhaust/heat the restrooms from running continuously for 24 hours Greenway

dissipationenergy throughout the year to turning them off during the

saving period from 22:00 to 7:30 through time control. Greenway gives full play to its advantages in energy storage technology and builds a multi-scenario energy

3. Alternately switch and use the main fan and the storage demonstration platform at its headquarters. Through the three major modules of "electric motorcycle

standby booster fan according to the production situ-

ation. charging and storage subsystem" "electric vehicle charging and storage subsystem" and "standard industrial and

commercial storage subsystem" a smart energy management network is constructed to achieve peak-valley

electricity price arbitrage and comprehensive energy efficiency optimization.

1. Change the operation mode of the 3 water tower

Air conditioning fans from running for 7 months each year with 12

and hours of operation per day to starting based on tem- Greenway

cooling tower perature control.energy saving 2 . Adjust the water out let temperature of the

air-cooled/water-cooled air conditioning main unit

according to the season and outdoor temperature.

1. In the small cyl indrical pole piece workshop

replace the large dehumidifier with an idle small K-tech

dehumidifier to maintain the environmental tempera-

ture for energy-saving.Facility usage 2. Integrate the loads of 4 transformers to reduce the

optimization K-techpower consumption of 2 transformers in operation. [Key Performance: Energy Usage]

Performance Indicators Unit Greenway K-tech

Purchased Power kWh 13994270 21959520

3. Save energy in the transportation of steam K-tech

by tank trucks.ENVIRONMENT 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 25 26

WATER RESOURCES MANAGEMENT WASTEWATER MANAGEMENT

The Company strictly adheres to the Water Pollution

Prevention and Control Law of the People's Republic of

Against the backdrop of the intensification of global warming the frequent occurrence of extreme climate events has led China the Environmental Protection Law of the People's

to a continuous rise in water resource shortage and water quality risk. Facing the challenges of the water environment the Republic of China and other relevant legal and regulatory

Company incorporates water resource management into its core business strategy systematically reducing water usage risk requirements fulfilling its environmental protection main

through full-process control (source reduction + end treatment) and reducing water resource waste through water conserva- responsibility by systematically regulating the full-process

tion promotion. management of sewage collection treatment and discharge

in each production base.The K-tech Production Base a subsidiary involves

industrial wastewater emissions. To strengthen environmen-

CURRENT STATUS OF WATER RESOURCE USAGE tal management the K-tech Production Base strictly imple-

ments the Water Pollution Discharge Limits (DB 44/26-2021)

for industrial wastewater emissions and the Water Quality

The Company attaches great importance to water resource management and achieves full-process water-saving efficien-

S t a n d a r d s f o r D i s c h a r g e t o M u n i c i p a l S e w e r s

cy improvement through systematic system construction and technological innovation. K-tech has formulated the Water Wastewater monitoring device

(GB/T31962-2015) for domestic sewage discharge require-

Resource Management System establishing management standards covering water withdrawal usage and drainage and

ments. It has specially formulated the Wastewater Manage-

clarifying the water resource quota mechanism for production bases (production/living/fire-fighting water usage).ment System according to relevant standards establishing a

In 2024 the water source for the Company's production base mainly comes from municipal water supply with a total [Key Performance: Wastewater Statistics]

full-process control system covering collection treatment

water intake of 230183 tons. The Company is located in an area with abundant water resources. Based on this situation K-tech

and monitoring to ensure wastewater management meets Scattered industrial wastewater

has conducted a water resource risk assessment and formulated emergency handling measures for water resource shortages

environmental management system accreditation Standards. K-tech

to ensure production continuity under extreme drought conditions. Meanwhile emphasis is placed on water conservation

In terms of domestic sewage management each pro-

promotion through daily advocacy monthly water usage data analysis meetings and other activities integrating the concept 495t

duction base implements the "Pretreatment + Municipal

of "closing the valve at will and using water precisely" into daily operational norms. During the reporting period the Company's

Coordination" model where sewage is treated through a

water extraction compliance rate reached 100% with no water-related environmental incidents occurring.septic tank before being connected to the municipal sewage

treatment system for further purification. For industrial

[Key Performance: Water Consumption] wastewater the K-tech Production Base has established an

"In-plant Control + Specialized Disposal" system: industrial

Water withdrawal Water withdrawal wastewater is centrally collected in a wastewater collection

Greenway K-tech pool with key indicators dynamically tracked using an envi-

108520t 121663t ronmental data acquisition instrument. It is then transferred

to a professional sewage treatment plant for deep process-

ing. During the reporting period in 2024 the base achieved a

100% compliance rate for industrial wastewater disposal

with no secondary pollution incidents occurring.ENVIRONMENT 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 27 28

PRODUCT CARBON FOOTPRINT

GREEN VALUE CHAIN With the increasing global concern about climate change issues product carbon footprint

has become an important indicator for measuring corporate environmental performance. The

Company actively responds to the international sustainable development trend and in 2024 it

initiated the carbon footprint certification work for lithium-ion battery products systematically

assessing the carbon emissions throughout the product's lifecycle from raw materials acquisition

The Company actively responds to the call for global

production manufacturing to usage and recycling. By introducing the Life Cycle Assessment

green transition by integrating the green design concept

(LCA) the Company has established a scientific carbon footprint accounting system to provide

throughout the product lifecycle striving to achieve ener-

data support for the low-carbon transformation of products.gy-saving and environmental standards. We collaborate

In the future the Company will further deepen product carbon footprint management: In the

with partners in the industrial chain to jointly promote the

product design phase the Company will fully integrate lifecycle thinking conducting special

construction of a green value chain. Through the applica-

carbon footprint research identifying key emission reduction links and optimizing material selec-

tion of green product design green packaging and green

tion and production processes to lay the foundation for developing low-carbon products. In the

emission reduction management we comprehensively pro-

manufacturing and operation links the Company will implement a series of energy conservation

mote low-carbon and sustainable development. Lithium-ion Battery Carbon

and emission reduction measures including increasing the proportion of clean energy usage

Footprint Report

optimizing the energy management system and promoting green manufacturing technology and

GREEN PRODUCT continuously reducing the carbon emission intensity during the production process. Meanwhile

the Company plans to include carbon footprint information in product labels to enhance environ-

The Company incorporates design and research and development of green products into the core of its corporate strate- mental information disclosure transparency assisting customers in achieving their carbon neutral-

gy. Taking the research and development center as the main department for tackling green technology problems it takes the ity goals. Through these measures the Company is committed to creating a green and low-car-

lead in promoting the integration and iterative upgrading of clean process technologies. The Company simultaneously estab- bon product system contributing to the global energy transition and climate governance.lishes a green product promotion mechanism using carbon footprint certification as a lever developing smart energy-saving

products through material substitution and energy efficiency optimization conveying the low-carbon value of products to the

market and promoting the deep integration of the green consumption concept and technological innovation achievements. GREEN PACKAGING

[Case: Green Products]

The Company integrates the concept of green packaging throughout the entire life cycle of

material selection and structural design and adheres to the circular economy principles of

The product DM001 adopts a simple and The product GW002 takes the multi-package series-par- "reduction reuse resource utilization". During the packaging material selection phase the life

environmental design concept reducing manufac- allel architecture as its core technological advantage integrat- cycle assessment standard is systematically introduced prioritizing FSC certified environmentally

turing cost by about 80% compared to conven- ing intelligent address coding multi-level communication pro- friendly paper materials and recycled plastic. This encompasses a green packaging solution

tional portable energy storage. It also uses tocol active directional balancing and automatic diagnosis system that includes standardized carriers (plastic turnover box/pallet) customized packaging

low-power switch control to effectively protect the functions. It achieves precise energy management and effi- (wooden pallet) and an intelligent recycling system (battery cell specific box). Through the

battery greatly extending the product lifespan. In cient system collaboration and through long cycle life and comprehensive management of "material selection-structural optimization-recycling and

use the product can be matched with the power high energy efficiency output environmental design it injects reuse-regeneration and re-manufacturing" a packaging management paradigm of "source

battery of two-wheeled vehicles to meet the green new power into the AGV field leading the industry sus- reduction-circular substitution-low-carbon transportation-recycling" is formed.outdoor activity needs of customers. tainable development trend with technological innovation.Recycled Plastic Box

[Key Performance: Use of Green Packaging Materials]

Greenway Usage of FSC Certified Packaging Materials 7.54t

DM001 GW002ENVIRONMENT 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 29 30

GREEN EMISSION REDUCTION [Key Performance: Exhaust Gas Emission Data]

Nitrogen Oxides (NOx) Sulfur dioxide

The Company implements a three-level environmental supervision mechanism of "source emission reduction-process K-tech

monitoring-end treatment" in the dimension of exhaust gas and waste management. Relying on the requirements of the ISO

14001 environmental management system exhaust gas monitoring is conducted regularly. Meanwhile for external waste 757kg 27.6kg

disposal suppliers in cooperation it is required that they 100% obtain hazardous waste business licenses and the harmless

disposal rate reaches the industry standard with a 100% compliance disposal rate for hazardous waste. This constructs a green

supply chain management paradigm of "standard co-construction-data interconnection-shared responsibility".Waste treatment

Exhaust gas treatment The Company has formulated the Waste Management Procedure systematically standardizing the classification

collection storage and treatment processes of waste during production operations to ensure compliance with relevant

The exhaust gas from the Company's various production bases mainly originates from certain production processes and regulatory requirements. In 2024 the Company's waste mainly includes two categories: general industrial waste and

the operation of diesel generators. The main pollutants include particulate matter tin and its compounds non-methane total hazardous waste. The Company strictly follows the principle of waste classification management with all waste collect-

hydrocarbons nitrogen oxides and sulfur dioxide. The Company strictly implements the Emission Standard of Pollutants for ed and placed in a fixed area for classified storage. Among them domestic waste and general industrial solid waste are

Battery Industry Emission Standard of Volatile Organic Compounds for furniture Manufacturing Operations Guangdong collected and transferred to the garbage room and are uniformly disposed of by the village environmental sanitation

Province's Emission Limits of Air Pollutants and the Notice on Key Work for Comprehensive Management of Industrial Kilns office. Scrap material discarded battery cells and other reusable general solid waste generated in the production work-

and Boilers issued by the Guangdong Provincial Department of Ecology and Environment (YHH [2021] No. 461) establishing shop are transported by the waste generating department to the Company's designated storage warehouse and legally

a comprehensive exhaust gas emission control system. By adopting advanced treatment processes such as water mist dust processed by a qualified unit in compliance with regulations; hazardous waste is collected and handed over to a recy-

removal and secondary activated carbon adsorption the emission concentration of pollutants such as particulate matter and cler with a Hazardous Waste Business License for recycling and treatment.acidic gases is effectively reduced. All exhaust gas is treated and discharged through high-altitude compliant discharge out- The Company has established an admission review mechanism for solid waste disposal vendors to ensure they

lets with regular environmental monitoring conducted to ensure that emission indicators continuously meet environmental have legal qualifications and standardized processing capabilities and to ensure the safety and compliance of solid

assessment requirements thereby fulfilling environmental protection responsibility. waste disposal. Meanwhile the Company regularly organizes special training for personnel directly involved in the gen-

Each factory conducts exhaust gas monitoring at regular intervals as required. By the end of 2024 the exhaust gas test eration collection storage and transportation management of waste from various departments to enhance their envi-

results were 100% compliant. ronmental awareness and professional capability ensuring the standardization and efficiency of the waste management

process. Through a comprehensive management mechanism and continuous training the Company has further

[Case: K-tech NMP Exhaust Gas Treatment System] enhanced the standardization of waste management effectively mitigated environmental risks and demonstrated its

commitment to sustainable development principles.K-tech uses NMP in the cathode

coating and drying process during pro- [Key Performance: Disposal amount of Solid Waste]

duction which are set in an enclosed

workshop. The organic exhaust gas gen-

erated is treated through the "NMP con-

Disposal amount of general industrial solid waste Disposal amount of hazardous waste

densation recovery + rotary recovery Greenway

device" and then discharged at high alti-

tude in compliance. The recovered NMP 12.15t 7.468t

liquid is returned to the supplier for pro-

cessing and recycling. The exhaust gas Disposal amount of general industrial solid waste Disposal amount of hazardous waste

treatment efficiency of this device reach- K-tech

es 99.93% to 99.99%. 132.837t 1.756t

NMP exhaust gas treatment deviceENVIRONMENT 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 31 32

GREEN OPERATION MANAGEMENT GARBAGE SORTING

The Company has configured standardized classified garbage recycling facilities in the office area and through various

The Company continuously enhances the low-carbon awareness and energy-saving literacy of all employees through multi-level and forms of environmental protection publicity activities it has enhanced employees' awareness of garbage sorting. The Com-

diverse forms of publicity and education activities. The Company deeply integrates the green concept into daily operations actively pro- pany actively promotes the concept of green office work encouraging employees to reduce the use of disposable plastic

moting energy-saving practices in the office environment and cultivating employees to develop environmental protection habits such as products and other non-degradable materials advocates sustainable consumption behaviors and jointly creating an envi-

saving electricity and reducing waste. Through energy-saving labels promotional encouragement and other methods employees are ronmentally friendly and low-carbon office environment.guided to start from small actions transforming energy conservation and emission reduction requirements into conscious actions collec-

tively creating a green and low-carbon corporate culture atmosphere. 05

WATER CONSERVATION

The Company actively practices the concept of sustainable utilization of water resources enhancing water use efficiency through

technological innovation and management optimization. The Company's washbasins are equipped with sensor faucets which automati-

cally shut off the water flow without manual operation thereby more effectively conserving water resources. Additionally we plan to

upgrade the irrigation system of the green belt in 2025 using watering devices with intelligent automatic pressurization and rain-sensing

function. This measure will achieve precise control of irrigation and significantly reduce labor costs and water resources consumption.Meanwhile the Company continuously conducts water conservation publicity and education. By sharing practical water conservation tips

posting water conservation signs and other means it continuously enhances employees' awareness of water conservation cultivates the

habit of saving water and promotes the concept of water conservation to take root in people's hearts. Energy Conservation Initiative

ELECTRICITY CONSERVATION

The Company actively promotes measures for energy saving and consumption reduction by optimizing electricity management

through Intelligent transformation. Greenway has upgraded the 24-hour lighting areas such as the elevator cars at the headquarters base BIODIVERSITY PROTECTION

workshop corridors underground garage to induction lighting or time control systems to achieve lighting on demand. Meanwhile it has

optimized the equipment operation plan adjusting continuously operating equipment such as water dispensers and heat pumps to a

timed startup mode significantly reducing standby energy consumption. Furthermore the Company advocates employees to practice The Company places great importance on ecological environment protection strictly adhering to the principles of sustainable

energy-saving behavior norms reasonably setting air conditioning temperature according to seasonal changes ensuring electricity is cut development during site selection and operations. After a comprehensive assessment the Company's current operational sites

off when people leave cultivating good habits of electricity conservation and comprehensively improving energy use efficiency. and surrounding areas do not involve natural ecological protection areas or environmentally sensitive zones and have not caused

significant impacts on the regional ecological environment and biological diversity. In the projects of new factory construction and

expansion projects of the factory the Company strictly implements the environmental impact assessment system to ensure that

the entire process of project planning construction and operation complies with local environmental regulations and obtains the

PAPER CONSERVATION relevant environmental approval permits.To actively respond to the challenges of global sustainable development the Company continuously improves its environ-

mental management system striving to reduce the impact of operations on natural ecosystems. K-tech has formulated the Biodi-

ethods such as online meeting appointments and electronic document circulation. The printer is set for card printing equipped with

versity Protection Initiative clarifying the goals and action plans for ecological environment protection and popularizing the

a waste paper recycling bin and encourages the reuse of waste paper for printing effectively promoting resource recycling. Meanwhile

knowledge of biological diversity protection among all employees to enhance their environmental protection awareness. In the

the Company actively promotes networked office practices utilizing internal emails and collaboration platforms for document transmission

future Greenway will continue to increase investment in ecological environment protection exploring the establishment of a bio-

and sharing significantly reducing printing mailing and related office costs. These measures can not only enhance work efficiency but

diversity monitoring mechanism and contributing to the sustainable development of the regional ecosystem.also reduce resource consumption helping achieve energy conservation and emission reduction goals and promoting the construction of

a green and low-carbon office environment.董事长致辞 广东博力威2024年环境、社会及管治（ESG）报告 04 05

05

HUMAN RIGHTS

Human Rights Protection 35

Diversity and Inclusion 37

Compensation and Benefits 39

Talent Introduction and Development 42

Employee Communication 48 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORTOccupational Health and Safety 49 GUANGDONG GREENWAY TECHNOLOGY CO. LTD.HUMAN RIGHTS 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 35 36

HUMAN RIGHTS PROTECTION ANTI-DISCRIMINATION AND ANTI-HARASSMENT

MANAGEMENT

The Company always regards human rights protection as a core component of its corporate social responsibility. It strictly complies The Company has formulated the Anti-Discrimination and Anti-Harassment Management Procedures clearly prohibiting dis-

with the United Nations' Guiding Principles for Business and Human Rights International Labour Organization's Core Labour Standards as criminatory behaviors based on race color age social status nationality religion disability gender pregnancy sexual orientation

well as the Labor Law of the People's Republic of China and the Labor Contract Law of the People's Republic of China and other laws and professional qualifications political affiliation marital status and other factors. The Company adheres to the principle of equal pay

regulations of the operating location integrating the sustainable development concept into the Company's strategy cultural advocacy and for equal work for men and women ensuring that women have equal employment opportunities with men under the premise of

daily operations. The Company firmly prohibits the employment of child labor forced labor and any form of workplace discrimination and meeting recruitment conditions. Except for jobs or positions unsuitable for women as stipulated by national regulations the Com-

harassment striving to create a fair and inclusive working environment for employees ensuring the dignity and rights of every employee. pany does not refuse to hire women or raise hiring standards based on gender and prohibits prospective employees from under-

Meanwhile the Company resolutely refuses to cooperate in any form with suppliers that engage in the employment of child labor forced going discriminatory medical examinations. The Company emphasizes the requirements of anti-discrimination and anti-harassment

labor and any form of workplace discrimination and harassment to promote the sustainable development of the industrial chain and the management during the onboarding training for new employees and establishes multiple channels for complaints including email

fulfillment of social responsibility. phone and suggestion box to ensure employees' rights are fully protected.PROHIBITION OF CHILD LABOR EMPLOYMENT FREEDOM OF ASSOCIATION AND COLLECTIVE

The Company strictly adheres to China's Provisions on the Prohibition of Using Child Labor and related laws and regulations formulating the BARGAINING RIGHTS

Child Labor and Minor Workers Management Procedure to ensure no employment of child labor under the age of 16. Through a rigorous recruit-

ment review mechanism the "Double Certificate Verification" Process is implemented verifying the authenticity of ID cards and educational certifi- The Company respects and safeguards employees' rights to freedom of association and collective bargaining. It hopes that

cates rejecting any applicants with incomplete or forged documents fundamentally avoiding the risk of child labor employment. employees will conduct structured social dialogues with the Company through means such as electing employee representatives

Although the possibility of child labor employment is extremely low we have still established a comprehensive child labor remediation mech- and joining trade unions so as to establish a good harmonious and equal labor relationship with employees. To this end the Com-

anism. Once child labor is discovered the Human Resources Administration Center will immediately stop their work and send the individual to the pany has established the Guangdong Greenway Technology Co. Ltd. Union Committee and the Dongguan K-tech New Energy Co.hospital for a health check-up. It will conduct a comprehensive investigation of the incident and formulate a remediation plan and report to the Ltd. Union Committee. The Company's Management continuously maintains in-depth communication with trade unions and em-

Labor Department. After approval they will be properly dismissed and paid the corresponding salary. The Company provides subsidies to ensure ployee representatives negotiating on labor compensation working hours and rest and leave social insurance and benefits and

that the child labor safely returns to their guardian. If the family of the child labor is in difficulty we will provide employment training opportunities signing collective contracts with legally binding clauses to clarify the responsibilities and obligations of both parties.for their family to prevent the recurrence of child labor.If it is confirmed that minor workers aged 16-18 are employed the Company will strictly follow the Regulations for the Special Protection of

Minor Workers fully implementing occupational health protection measures prohibiting participation in jobs with safety risks exceeding reason- HUMAN RIGHTS AWARENESS TRAINING

able labor intensity or having health hazard factors. Regular physical examinations are carried out upon employment annually and after reaching

The Company deepens all employees' understanding of the importance of human rights protection through human rights

adulthood. Exclusive health files are established to track the physical and mental development throughout the process and the special protection

awareness training and internal communication mechanisms and ensures the effective implementation of relevant policies and pro-

responsibilities are systematically implemented to effectively protect the legitimate rights and interests of minor workers.cedures. When new employees join the Company human rights training is carried out covering topics such as the prohibition of

child labor opposition to workplace violence anti-discrimination and anti-harassment respect for freedom of association and col-

PROHIBITION OF FORCED LABOR lective bargaining rights while integrating relevant legal knowledge to strengthen employees' legal awareness and compliance

awareness.The Company has formulated the Prohibition of Forced Labor and Use of Prison Labor Management Procedure which clearly

prohibits any form of forced labor and use of prison labor including but not limited to:

[Key Performance: Human Rights Protection]

It is prohibited to force employees to work by means of violence threat or other means.Performance Indicators Unit Greenway K-tech

It is prohibited to withhold employees' identification documents wages or other property.Incidents of child labor employment / 0 0

It is forbidden to restrict employees' personal freedom including limiting their ability to resign or leave.Incidents of forced or compulsory labor / 0 0

It is prohibited to use prison inmates detainees in detention centers or other persons deprived of personal freedom to engage in labor.Incidents of discrimination / 0 0

We reaffirm the Company's zero-tolerance attitude towards forced labor and the use of prison labor to all employees through

the employee handbook company policies and onboarding training. Meanwhile we have established smooth complaint channels to Coverage rate of human rights awareness training % 100 100

encourage employees to report any form of forced labor and the use of prison labor. Employees who violate the regulations will be

dealt with seriously up to and including termination of employment contract. Coverage rate of employees with signed collective contracts % 100 100HUMAN RIGHTS 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 37 38

DIVERSITY AND INCLUSION Distribution of employees by age

30185

Employees with different backgrounds and perspectives can bring a wider range of ideas and solutions thereby stimulating 16.48% 21.30%

creativity and innovation helping the company develop new products services and markets. However employees from different 736 169

cultural backgrounds may have differences in language communication styles and understanding which pose some potential 40.31% 42.36%Greenway K-tech

challenges to the Company in building a harmonious and friendly workplace environment. The Company advocates the values of 789 145

respect understanding and inclusion establishing an inclusive corporate culture where all employees feel accepted respected 43.21% 36.34%

and valued maximizing the benefits of employee diversity to achieve sustainable development.The Company systematically promotes a diversity talent strategy constructing a multi-dimensional recruitment matrix that

includes social recruitment school-enterprise cooperation and government-enterprise talent introduction widely attracting

talents to form an inclusive talent ecosystem covering gender age and cultural background. As of the end of the Reporting Between 19 and 30 years old Between 31 and 40 years old Above 41 years old

Period the Company has 2225 in-service employees among which 1826 are from Greenway and 399 are from K-tech all of

whom are full-time employees.Greenway has 1124 male employees accounting for 61.56% and 702 female employees accounting for 38.44%. In terms of

Distribution of employees by educational background

age Greenway has not hired minor workers with employee ages mainly concentrated between 31-40 years old. In terms of edu-

cation there are 1437 employees with below undergraduate education and 389 employees with undergraduate and above edu-

cation. In terms of ethnicity there are 292 ethnic minority employees accounting for 15.99%. 389

21.31%46

K-tech has 287 male employees accounting for 71.93% and 112 female employees accounting for 28.07%. In terms of age 15.53%

K-tech does not employ minor workers with employees' ages mainly ranging from 19 to 30 years old. In terms of education there 1437 353人

are 353 employees with below undergraduate education and 46 employees with undergraduate and above education. In terms of 78.69% 88.47%

ethnicity there are 86 ethnic minority employees accounting for 21.55%. Greenway K-tech

In terms of the construction of management diversity there are 18 senior management personnel in total among which 16

are senior management personnel of Greenway and 2 are from K-tech. Greenway has 13 male executives accounting for 81.25%

and 3 female executives accounting for 18.75% with 1 ethnic minority executive accounting for 6.25%. K-tech has 2 executives

both of whom are male.Below Bachelor's degree Bachelor degree or above

Distribution of employees by gender

Distribution of employees by ethnicity

702112

38.44%28.07%29286

112428715.99%21.55%

61.56%71.93%

Greenway K-tech 1534 31384.01% 78.45%

Greenway K-tech

Male

Female Han nationality Ethnic minority employees

Note: Senior management refers to management personnel at the director level and above.HUMAN RIGHTS 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 39 40

COMPENSATION AND BENEFITS PERFORMANCE-ORIENTED INCENTIVE

MECHANISM

The Company strictly complies with the Labor Law of the People's Republic of China Labor Contract Law of the People's Repub-

lic of China Social Insurance Law of the People's Republic of China and other laws and regulations committed to providing employ- The Company implements a performance-oriented incentive mechanism and has formulated a scientific standard-

ees with compensation and benefits that are competitive externally and fair internally. By continuously optimizing the compensation ized and transparent Performance Management System closely linking employees' compensation bonuses equity etc.and benefits system the Company can attract and retain outstanding talents improving employee satisfaction and engagement with performance effectively stimulating employee enthusiasm improving work efficiency and enhancing enterprise

thereby enhancing enterprise competitiveness. benefits. Combining its own situation and compensation strategy the Company implements multi-level and multi-di-

mensional incentive measures through the combination of spiritual incentives and material incentives including but not

limited to the following points:

SALARY MANAGEMENT

The Company has formulated the Compensation Management System establishing components including basic salary perfor- Short-term Short-term incentive measures such as performance bonuses and project bonuses are established

mance salary piece-rate salary allowances and subsidies bonuses and benefits etc. Different compensation structures are adopted incentives to reflect the principle of "more work more pay".based on the salary calculation method (Monthly Salary System Piece Rate System Hourly Wage System) and business form and the

Company's compensation strategy compensation structure and compensation adjustment mechanism are clearly communicated to

Long-term For core employees and executives an equity incentive plan is implemented to tie personal

employees through the Employee Handbook. Every year in addition to referring to the minimum wage standards released by the local incentives interests to the long-term development of the Company.government we also conduct a market compensation survey to understand the compensation levels in the same industry region and

position ensuring the Company's compensation remains externally competitive.The Company strictly complies with labor laws ensuring that employees' salaries are not lower than the local minimum wage Honor A number of honor awards are established such as the Gold Team Award Elite Project Award

Three Good Team Award Medal Award Progress Leap Award Collaboration and Win-Win Award

standards. In 2024 the basic salary standards for all employees of Greenway and K-tech reached the local minimum wage standards awards

Excellence Craftsman Award etc. to enhance employees' sense of achievement and honor.with no gender differences fully reflecting the fairness and compliance of the company's salary management.The Company implements the principle of equal pay for equal work ensuring that employees are not subjected to wage discrimi-

nation based on gender age race etc. ensuring internal fairness in wages. The employees' compensation situation in 2024 is as

follows: EMPLOYEE BENEFITS

The Company is committed to building a comprehensive flexible and personalized welfare security system. On the basis

[Key Performance: Employee Compensation Situation in 2024] of providing statutory benefits (Five Insurances and One Fund Paid Leave) to all employees it designs competitive additional

Performance Indicators Unit Greenway K-tech benefits according to employee needs and actual conditions. Additional benefits cover aspects such as health check-up

supplementary medical insurance recreational facilities and employee activities.The median of the annual total compensation of all employees

CNY 10000 10.98 9.10 Accommodation and dining Conditions(excluding the individual with the highest income)

The average annual compensation of male employees CNY 10000 15.17 11.60

The average annual compensation of female employees CNY 10000 13.12 8.74HUMAN RIGHTS 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 41 42

Employee activities TALENT INTRODUCTION AND

DEVELOPMENT

Talent is the core resource for the Company to achieve its strategic goals. The Company consistently focuses on

development strategies and business needs adhering to the employment principle of "cultivating management cadres

internally recruiting urgently needed professional talents externally promoting internal talent mobility and survival of

the fittest" striving to build an efficient and comprehensive talent management system. We start from all stages of

Festival and birthday benefits talent attraction and retention such as recruitment training assessment and promotion to build a high-quality pro-

fessional talent team providing a solid talent guarantee for the Company's sustainable development.TALENT INTRODUCTION

The Company has formulated the Human Resources Control Procedure always taking the professional capabil-

ities comprehensive qualities and development potential of candidates as the core considerations and paying

special attention to the attraction and retention of key positions and scarce talents. We have established a system-

atic recruitment channel featuring "external recruitment + internal recommendation + targeted potential explora-

tion" and continuously optimized the recruitment process significantly improving the recruitment efficiency and

Focus on employees' physical and mental health the accuracy of talent matching.Three-channel Precision Recruitment

External Recruitment

* Multi-channel online recruitment matrix: covering BOSS Zhipin Liepin (for vertical technical positions)

51job (for comprehensive positions) Zhitong (for regional positions) and the company website (the entrance

for the brand employer image);

* Strategic campus recruitment network: covering 10 key universities in China (including Double First-Class

universities such as South China University of Technology and Xi'an Jiaotong University);

* Government-enterprise collaboration in talent attraction: deeply participating in government-led recruit-

ment projects such as Dongguan City's "Spring Breeze Action" and coordinating with campus recruitment

promotion conferences in cities like Beijing and Shenzhen;

[Case: Boai Fund Care Action]

Greenway established the "Boai Fund" Internal recommendation:

which aims to provide timely financial assis-

tance to employees and their families during activating all employees to recommend talents through the "Referral Bonus Mechanism" and opening up the

unexpected difficulties. In 2024 the Boai Fund public competition channels for positions across departments and sequences. During the reporting period a

operated efficiently distributing a total Relief total of 200 employees achieved horizontal mobility or vertical promotion;

Fund of 35000 RMB to the families of assisted

employees.Targeted talent finding:

Boai Fund Protecting with Love establishing a "Targeted Recruitment" mechanism in key technology fields for specific positions and talent needs.HUMAN RIGHTS 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 43 44

Refined Recruitment Process TALENT DEVELOPMENT

Standard setting: The Company has established the Training Management System continuously improving the talent development system

through the "Headquarters-Subsidiary-Department" three-level linkage mechanism. Through systematic needs assessment plan

Based on the job competency model requirements for education work experience professional skills and

formulation and resource coordination it ensures that training activities are accurate and efficient. Combined with the annual

core qualities are clarified;

strategic goals and based on the differences in position levels and functions we formulate a hierarchical and classified annual

Multidimensional evaluation: training plan. This plan constructs a complete training system that includes the new employee integration plan and the continu-

ous development plan for existing employees continuously enriching the company talent pool.Through the links of resume screening initial interview professional skills assessment behavioral interview

and cultural fit evaluation the capabilities of candidates are quantified scientifically; Perfect Training Management Process

Value orientation: Training needs assessment:

By focusing on assessing the candidate's alignment with the enterprise's values long-term collaborative In December of each year the Human Resources Administration Center identifies trends and patterns in training needs

through questionnaire surveys employee interviews and past training data.development between talent and organization is ensured.Training plan:

The training plan is divided into the Annual Training Plan and Monthly Training Plan. The Human Resources Administration Center

[Key Performance: Employee Turnover Data in 2024] conducts a comprehensive analysis of training needs submitted by various departments evaluates the alignment of training needs

with organizational goals formulates the training plan and releases the details to all employees or specific groups.Performance Indicators Unit Greenway K-tech

Employee entry rate: % 6.18 6.15 Training implementation:

Based on the training plan internal and external training resources are utilized to implement the training. The provided

Male employee entry rate: % 7.03 7.09 training content is meticulously divided into four major categories: general professional management and skill-based:

* General training: It covers courses such as corporate culture regulations quality literacy communication skills office soft-

Female employee entry rate: % 4.90 3.90 ware skills data analysis ability project management knowledge emotional management and fire safety prevention aiming

to enhance employees' basic work skills and comprehensive literacy.* Professional training: Special topic or special project courses in various business fields are carried out in depth including

Frontline employee entry rate: % 8.91 7.81 but not limited to marketing course series quality course series lean course series financial course series and product

course series ensuring employees have a solid professional foundation and cutting-edge perspective.Non-frontline employee entry rate: % 2.16 2.01 * Management training: Management training emphasizes the construction of talent echelons and focuses on the key culti-

vation of the capabilities of management cadres at different levels. The cadre development program [Qing Series] includes

Qinghe - Team Leader Training Camp Qingning - Talent Reserve Training Camp Qingliu - New Cadre Training Camp Qing-

Employee turnover rate: % 5.16 5.08 zhu - Manager Training Camp and Qingshan - Director Training Camp to enhance the comprehensive leadership and man-

agement capabilities of management cadres and reserve cadres.Male employee turnover rate: % 5.72 5.42 * Skill-based training: Skill-based training focuses on improving the work skills and efficiency of employees in their posi-

tions such as skills training in position operation procedures and testing methods experimental testing methods the use of

statistical tools and the seven principles of quality comprehensively improving employees' practical operation ability and

Female employee turnover rate: % 4.32 4.19 problem-solving ability.Front-line employee turnover rate: % 7.21 6.52

Training effectiveness evaluation:

Non-frontline employee turnover rate: % 2.21 1.34 Through training satisfaction surveys the evaluations of trainees on training content instructors organization and other

aspects are grasped. Additionally through quizzes practical operation assessments and other methods the immediate

learning achievements of trainees are tested.HUMAN RIGHTS 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 45 46

Enrich Training Resources

[Case: First Soldering Skills Competition]

Greenway Training Academy:

In order to deepen employees' professional skills the

Greenway Training Academy is an internal training and development academy established by the Company to

create a learning organization and achieve sustainable development. As a core pillar of the talent strategy it Company specially held the first soldering skills competi-

constructs a full career cycle learning and Talent Development system. Greenway Training Academy empowers tion. The event is divided into two major sections: theo-

employee growth through diverse practical courses and tiered projects like the "Qing Series Program" while retical test and practical skills challenge comprehensively

simultaneously deepening government-enterprise cooperation projects fully implementing skill master studio assessing employees' theoretical knowledge and practical

new apprenticeship system vocational skill level certification and other innovative practices. It has become a abilities. To encourage the refinement of skills the Com-

comprehensive empowerment platform integrating a talent cultivation base a management change driver a

pany established a reward mechanism to commend those

knowledge asset management platform and a central hub for corporate culture dissemination.who perform excellently in ski l l assessments creating a

positive atmosphere of "comparing learning catching up

Internal Lecturer Team Construction: with and surpassing each other".To fully utilize internal resources the Company selects part-time lecturers from various departments to form

an internal lecturer team. After certification internal lecturers are awarded an Internal Lecturer Certificate and

enjoy incentives such as lecturer teaching allowance and merit points. [Key Performance: Employee Training Data in 2024]

"Skill Master" Studio Performance Indicators Unit Greenway K-tech

The "Skill Master" Studio has been established with relatively complete hardware facilities. Cultivating grassroots talents

Skill training coverage % 100 100

is one of the key tasks of the Studio. In 2024 a skill level accreditation was organized with 19 people certified at Level

3 and 22 people certified at Level 4. Meanwhile the accreditation standards for Level 1 and Level 2 were added and

the qualification for independent accreditation was obtained. With the tone of "consolidating the foundation and Total number of people trained Persons 1826 399

strengthening internal capabilities" in its operation the Company emphasizes internal learning and growth. The Studio

actively responds to the call of focusing on "improving efficiency" at the primary level in manufacturing operations and

Total duration of training h 54342.50 13787.50

has formulated a series of training plans. These plans include the training camp for primary-level management team

leaders the Six Sigma Green Belt accreditation counseling project the project of pairing masters with apprentices for

mentoring the soldering PK competition etc. Training hours per employee h 29.76 34.56

Campus Recruitment Talent Training Program

04 ProfessionalQingliu Program (New Cadre) Training accumulationOrganizational

contribution

Cultural

practice

03 Qingning program Professional accumulation(Talented Individuals) Training Value outputCultural integration

Professional introduction

02 On-the-job Internship + Job competenceDepartment Training Cultural experience

Qingmiao Program (Qingmiao Program Environmental integration

01 Talent) Development (Intensive Training Career transition

+ Cross-position Learning) Cultural baptism

0-3 months

4-12 months

13-24 months

25-36 months

erio

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P

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g

Inte

iod

n Pe

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atio

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od

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tuHUMAN RIGHTS 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 47 48

TALENT DEVELOPMENT The Company provides employees with two career development paths: management path and technical path to assist em-ployees in formulating clear career planning and clarifying development direction and goals. Employees can choose the develop-

ment direction that best suits them based on personal ability interests and career planning and continuously learn and improve

The Company pays attention to talent development providing employees with a clear career development path and themselves to achieve personal career goals.broad development opportunities. It further improves the promotion standards and evaluation system and focuses on pro- Promotion Management Mechanism

moting internal staff mobility which is conducive to stimulating employees' potential and realizing the common growth of

employees and the Company. The Company consistently adheres to the principles of openness fairness and justice

in promotion management and has established the Promotion Management System as a

Five-Level Hierarchical Design unified evaluation standard. We ensure that promotions are highly aligned with personal January

G 2e 0n 2e 1r :

ability by comprehensively evaluating position contributions project results and perfor- al Manager of NB Division

mance. Meanwhile the Company has established mechanisms for regular promotion NB

Management f the

Category A total of 6 levels from M1 to M6 are set up covering a complete management hierarchy

: o

reviews public debriefing and cross-department evaluation mechanisms to ensure the 020 st 2 ge

r

u ana cer

Aug ral M ffin O

(M Series) from junior supervisors to group executives;

e o

transparency and credibility of the promotion process. Gen ductiPro

Ma

M y a 2n 0a 1g 6:

Professional [Case: Transformation Journey from Ordinary

er of the NB Pr

Category A total of 5 levels from P1 to P5 are set up covering positions from junior to expert level;t Employee to General Manager of NB Division]

oduction Office

(P Series)

ous

e

reh

Peng Jiquan joined Greenway as the Director of the NB Warehouse in March 2011. a015: B We N

uary

2

of t

h

With precise professional capability and outstanding management potential he relent- rFeb erviso

r

Technical Category Sup

(T Series) lessly grew within the systematic career development path gradually advancing to core

Marketing Category March 2011

(S Series) Each has 5 levels providing a step-by-step promotion path for technical engineers

:

management. In February 2015 he served as the Supervisor of the NB Warehouse. In Director of the NB Warehouse Joined

Manufacturing marketing engineers and manufacturing positions. May 2016 he was promoted to the Manager of the NB Production Office. In August 2020

Category

(O Series): he was promoted to the General Manager of the NB Production Office. In January 2021

PENG Jiquan

he was promoted to the General Manager of NB Division realizing personal value and

organizational empowerment in enterprise development.Dual-Channel Career Development Path for Talents

EMPLOYEE COMMUNICATION

Greenway upholds an open and inclusive communication culture promoting free flow of information stimulating employees'

Executives Experts innovation potential and sense of belonging and ensuring every member feels their value and the warmth of the team. The Com-

pany attaches great importance to employee communication actively promoting equal dialogues between employees between

Middle-level Management Senior Key Staff management and employees and between employees and the enterprise as a whole creating a caring and harmonious work-life

space for employees.Frontline Management Key Staff

DIVERSE COMMUNICATION CHANNELS

Experienced Personnel

Greenway continuously deepens and improves the employee communication mechanism to ensure that the voices of every

employee can be fully heard and valued. The Company has established an all-round and multi-level communication channel

Beginners including but not limited to the Union and Employee Representative Conference satisfaction surveys online feedback hotlines

information exchange platforms email phone and suggestion box among others. These various forms facilitate employees to

express their demands anytime and anywhere aiming to provide a broad stage for employees to express opinions and make sug-

gestions at any time. We promise to respond quickly and properly address the reasonable needs of employees jointly creating a

more open inclusive and harmonious work environment.Management development path

ath

men

t p

p

dev

elo

l

chn

ica

TeHUMAN RIGHTS 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 49 50

EMPLOYEE SATISFACTION HEALTH AND SAFETY CULTURE

The Company deeply cares about employees' needs and comprehensively and thoroughly understands their voices. The Company regularly In order to strengthen employees' awareness of health and safety protection and improve their consciousness of abiding by

conducts comprehensive employee satisfaction surveys annually covering five core areas: company system processes department management rules regulations and labor discipline the Company actively fosters a good health and safety culture by providing comprehensive

efficiency welfare and benefit systems individual career development and team work atmosphere. It also specially sets up an employee suggestion occupational health and safety training carrying out special activities making promotional posters or slogans etc. Employees are

zone to widely collect employees' expectations and feedback. Based on the survey results an improvement report is formed. The Company identifies encouraged to actively participate in occupational health and safety management creating an atmosphere where everyone talks

improvement points and formulates solutions to ensure that the issues of concern to employees are resolved within the specified time continuously about safety and everything involves safety.improving employee satisfaction and loyalty. In 2024 the Company conducted two employee satisfaction surveys. Among them the employee satis-

faction rate of Greenway Technology Co. Ltd. was 70.57% and the employee satisfaction rate of K-tech was 70.77%. The Company continues to practice the training concept of The company carried out special training

"Three-level Safety Education" implementing company-level basic train-

ing department-specific training and on-the-job practical training for all 25person-times.OCCUPATIONAL HEALTH AND SAFETY employees. Interactive forms such as case analysis and accident review are adopted to deepen employees' understanding of hazard source identifica-

tion health and safety protection. In 2024 the Company carried out a total covering

of 25 special training sessions covering 2039 person-times.The Company adheres to the occupational health and safety policy of "Safety First The Company established the Emergency Plan Control Procedure 2039person-times.Health Paramount Prevention First Continuous Improvement." In accordance with the ISO formulating emergency plans annually based on identified potential occu-

45001:2018 international standard and the relevant requirements of work safety stan- pational health and safety incidents and regularly organizing drills

dardization the company has established a sound occupational health and safety man- according to the plans to enhance employees' ability to respond to emer-

agement system. The Company strengthens risk prevention and control by systematically gencies. In 2024 the Company organized a total of 26 emergency drill The company organized a total of

identifying and assessing hazard sources in the workplace. It implements a hierarchical activities covering various aspects such as fire protection chemical leak- emergency drills

safety training system regularly organizes diverse emergency drills and takes a variety of age safety of special equipment and electrical safety with Greenway and

other measures to continuously improve the Company's safety management level and em- K-tech each organizing 13 sessions of Emergency Drill Activities. 26person-times.ployees' safety awareness. The company is committed to achieving the occupational In July 2024 the Company held the "Remember the Company's

health and safety goals of "zero accidents zero injuries and zero occupational diseases." Shame Alarm Bells Ring" Safety Warning Month series of Activities includ-

ing "Safety Knowledge Learning and Quiz" Activities "All Staff Participate Greenway and K-tech organized emergency

drills respectively

in Hazard Elimination" Activities "Fire Safety Drill" Activities and "Emer-

RISK CONTROL AND HAZARD INVESTIGATION gency First Aid Training" Activities. 13person-times.The Company has established the Hazard Identification and Risk Assessment Control Procedure and conducts the identification and assessment

of occupational health and safety risks covering all operating sites of the Company at least once a year. Each year the Safety Management Depart-

ment organizes all departments to evaluate the risks brought by various potential hazard sources that may exist in all the Company's operational

activities equipment and facilities materials and substances operators operation processes operation environments and operating conditions etc.according to the risk assessment criteria. The direct judgment method or the LEC scoring method is adopted for the assessment. Based on the control

principles of "Elimination Substitution Engineering Controls Administrative Controls and PPE Protection" corresponding control measures are formu-

lated to maximize the reduction of occupational health and safety risks. In 2024 Greenway identified a total of 125 hazard sources including 6 major

risks. K-tech identified 425 hazard sources including 86 significant and above risks. As of the end of the reporting period internal control measures

have been taken for the above hazard sources.The Company has established a management system for the investigation and treatment of potential safety hazards. The Company's Headquar-

ters and each operating location organize a comprehensive safety inspection every month led by the top leader with the heads of each department

and relevant key staff conducting thorough inspections. For identified accident hazards the "Five Determinations" requirements are implemented

assigning the responsible department responsible person measures funds and progress strictly adhering to management procedures and regularly

organizing safety meetings to address specific issues of identified accident hazards. Safety Management Personnel go deep into the site every day Occupational health and safety training Emergency drill activities

strengthening routine patrol inspections checking personnel violations and tracking and supervising the investigation and governance of risk hazards

to ensure that hazard governance projects are completed on schedule reducing on-site operational risks. In 2024 the Company received reports of

more than 523 potential hazards. As of the reporting period all the above-mentioned potential hazards have been rectified.HUMAN RIGHTS 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 51 52

HEALTH AND SAFETY PROTECTION The Company has established a clear and efficient accident reporting process to ensure rapid response in emergencies. Once an accident occurs the person involved in the accident or the on-site witness should immediately report to their direct supervisor or

on-site person in charge and escalate the report to the head of the secondary department and Safety Management Department within

The Company has formulated a series of occupational health and safety control documents such as the Occupational Health the stipulated time. For accidents of different levels different reporting Time Limits and paths are specified to ensure information is

Management Procedure Occupational Health Management System and Labor Protection Equipment Management Regulations. quickly conveyed to relevant departments and leaders. Particularly when an accident that may endanger the lives of employees may

Through regular detection of occupational disease hazard factors organizing employees to conduct occupational health examina- cause a major fire or a major environmental pollution accident occurs the heads of the second-level departments and the Safety Man-

tions and providing effective personal protective equipment it minimizes employees' exposure to hazard factors (such as noise agement Department are required to report to the head of the first-level department within 30 minutes. A mechanism for bypassing

chemical harmful substances etc.) in the workplace and timely detects and treats occupational diseases. levels in special circumstances is set up to ensure information is swiftly conveyed to the decision-making level.[Key Performance: Occupational Health and Safety Data in 2024]

Personal Protection: Performance Indicators Unit Greenway K-tech

The Company equips employees in positions exposed to occupational disease hazards with PPE such as safety Number of Trained Personnel at Each Location Person 1826 399

helmets earplugs and gas masks and assigns dedicated personnel to regularly inspect and maintain them to ensure

protection effectiveness. Emergency drill times Times 13 13

Occupational Disease Medical Examination: Coverage Rate of Occupational Disease Medical Examination % 100 100

Incidence Rate of Occupational Disease % 0 0

The Company has established a "List of Occupational Disease Exposure Positions" and implemented the occupational

health examination system for pre-job on-the-job and off-the-job situations. During the reporting period the cover- Number of Minor Work-related Injury Incidents / 1 1

age rate of occupational disease medical examinations for employees of Greenway and K-tech was 100% and the

incidence rate of occupational diseases was 0. Number of Serious Work-related Injury Incidents / 0 0

Number of Employees Died Due to Work-related Injuries Person 0 0

Occupational Disease Hazard Factor Detection:

Number of Working Days Lost Due to Work-related Injuries Day 7.35 5

The Company conducts this annually at all operational sites to identify and assess workplace hazard factors. This is

combined with engineering controls (such as ventilation system upgrades) management optimizations (such as the Loss Rate per Million Working Hours / 0.23 1.06

job rotation system) and PPE configuration to comprehensively ensure operational environment safety.Serious Accident Rate of Lost Working Hours per Thousand People / 0.002 0.005

Note（: 1）The total working hours of Greenway in 2024 were 4354097 and the total working hours of K-tech in 2024 were 947625（. 2）Loss

PRODUCTION SAFETY ACCIDENT REPORT rate per million working hours = (total number of work-related injury incidents causing lost working hours) x (1000000 / total working

hours);Serious accident rate of lost working hours per thousand people = (days lost due to injury) x (1000 / total working hours).Accident Reporting Process Flow Chart

Head of the secondary Within 30 minutes Head of the

department primary department

Person Involved in the Within 15 minutes Direct Supervisor or Within 15 minutes Within 30 minutes Vice Chairman or

Accident or On-site On-site Person Major accident Serious Accident General Manager

Witness in Charge

Safety Officer or Within 30 minutes Head of the Safety

Fire Chief Management Department董事长致辞 广东博力威2024年环境、社会及管治（ESG）报告 04 05

0604

SOCIETY

R&D Innovation 55

Quality Management 63

Customer Service and Support 73

Sustainable Supply Chain 74

ENVIRONMENTAL SOCIAL AND

Industry Development Promotion 77 2024 GOVERNANCE (ESG) REPORTSocial Welfare 79 GUANGDONG GREENWAY TECHNOLOGY CO. LTD.SOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 55 56

R&D INNOVATION Laboratory Strength and Qualifications

The Company's laboratory has established an industry-leading detection technology platform equipped with a cluster

of cutting-edge devices covering the entire R&D cycle of battery cells. The laboratory is equipped with core devices such as

Greenway adheres to the core values of "customer-centric honest and innovative" and upholds the quality policy of "full participation plasma emission spectroscopy laser particle size analyzer specific surface area analyzer gas chromatography and electro-

continuous improvement striving for excellence and customer satisfaction". It is committed to enhancing product quality and performance chemical workstation. It can precisely complete the electrochemical performance tests such as cell materials’ mobility energy

through relentless R&D and innovation to achieve our mission — "bringing green batteries to every household every country keeping the earth density cycle life and safety performance verification under extreme conditions such as overcharge/overdischarge nail pen-

clean". Guided by this great mission the Company not only attaches great importance to environmental protection and sustainable develop- etration crush testing and high-temperature thermal runaway. The professional engineering team provides scientific sup-

ment but also regards R&D and innovation as the core driving force for promoting business growth and corporate development. port for the optimization of battery cell structure design material system iteration and process parameter validation through

standardized and modular detection processes effectively ensuring product performance compliance rate and quality stabili-

ty.R&D STRENGTH

R&D Team

The company has assembled a specialized R&D team consisting of 322 elites with expertise covering battery cells battery management

systems mechanical design electrical engineering and software providing a one-stop supply capability for lithium battery system solutions.The core technology team consists of two parts: an electrochemistry research unit led by Professor Guo Huajun doctoral advisor at Central

South University and a power electronics research team headed by Professor Zhang Bo doctoral advisor at South China University of Technol-

ogy. The Company has developed a relentless innovation and industrialization capability that integrates fundamental research technological

innovation and industrial application. Notably the average age of the R&D team is only 30 years old maintaining the keen insight and innova-

tive vitality of young researchers in new technologies while ensuring the stability of technology inheritance through a mentoring mechanism Plasma emission spectroscopy Laser particle size analyzer Specific surface area analyzer Gas chromatography

led by senior experts. This dynamic fosters a deeply integrated industry-academia-research innovation ecosystem.Technical Strength

The company has established full-chain lithium battery competitiveness through six core technological strengths. Self-developed BMS systems

and multi-chemistry compatible cells are integrated with a full-lifecycle management platform for battery health monitoring and cloud-based optimi-

zation. Enhanced hardware safety and environmental adaptability via thermal runaway containment technology welding-free structures and

IP67-rated protection. Hardware-software co-design supporting multi-battery parallel connection and a 36V-400V wide-voltage platform combined Microwave digester Scanning electron microscopespectrometer Carbon and sulfur analyzer Potentiometric titrator

with structural thermal and performance simulation for reliability prediction. A closed-loop technology ecosystem spanning material innovation

intelligent control and real-world scenario validation delivering high-safety long-cycle-life and highly adaptable lithium battery solutions for energy

storage light electric vehicles and consumer electronics.

01 Data analysis Full lifecycle management system battery health warning cloud optimization

02 Structural design Thermal spreading technology welding-free technology full product matrix

BMS IP67 waterproof

03 Hardware design Vehicle grade materials modular design internationally renowned suppliers Electrochemical workstation Viscosity tester Trace moisture analyzer True density tester

CELL 04 Software design Precise strategy control high-precision SOC measurement and high-precisionSOH measurement

05 Soft and hard BMS has built-in double cells to realize multi-battery parallel connection. It is

combination compatible with high voltage platform from 36V to 400V with low heatproduction and high safety

FULL LIFECYCLE

MANAGEMENT

SYSTEM 06 Simulation Structural thermal and performance simulation to achieve multi-dimensionalperformance and comprehensive safety evaluation Electrode tensile tester Separator puncture tester Glove box Tap density testerSOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 57 58

R&D Achievement: R&D of Safe Lithium Battery Cells for Electric Two-Wheelers

Battery Cell Structure Design and Innovation

Golden Hoop Stick 34145 is born for Shell Full tab design

Double-layer high-low Double-layer high Compression and electric two-wheeled vehicles

temperature chamber temperature chamber Jet combustion tester puncture tester

Negative current

collector

Positive current

collector Full tab Steel structure

Insulation spacer

Greenway's Golden Hoop Stick Battery features high safety long lifespan and Steel shell

low-temperature usability. It does not contain precious metals like nickel and

Charge and discharge Double-door high High strength

test cabinet temperature chamber Thermal abuse test chamber

Overcharge and cobalt. It can pass the industry's most stringent Single cell nail penetration test

overdischarge tester and is compatible with various chemical systems. It is especially carefully created

Top cover for two-wheeled vehicle users.In addition Greenway Laboratory possesses international authoritative qualifications and multiple certifications. Its core

laboratory is certified by the China National Accreditation Service for Conformity Assessment (CNAS) and complies with the

ISO /IEC 17025:2017 international standards ensuring that its testing capabilities and management system meet global

standards. Meanwhile Greenway Laboratory has obtained the witnessed testing qualification authorized by SGS enabling it

to complete critical tests under international third-party supervision and further strengthen global testing resource integra- Material System and Process Design Development

tion as an SGS partner laboratory.Low Activity Low Oxygen Evolution Positive Electrode Fully charged interface at 0.5℃-10℃

Wide Temperature Highly Stable Negative Electrode and Electrolyte

High Safety Coated Separator

System Ceramic Protective Layer

Multiple Visual Inspection Design Offset Design of Large-Area Positive/Negative Electrodes

Appearance Inspection Slitting Burr Inspection

and Winding Coating Inspection Mid-Long Term K Values

Safety

Stability Inspection Control

Flattened edge

Surface Density Inspection and

Input Protection Ceramic edge

Multiple Hipot Screening Process Process Cu foilDesign Negative electrode edge

Winding Flattening Current Collector Welding Control Positive electrode edge

Sealing Mid-Long Term K Multiple K Values Winding CCD

Xray detection picture

Laboratory Accreditation CertificateSOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 59 60

R&D Achievement: R&D of Safe Lithium Battery Cells for Electric Two-Wheelers R&D Achievement: R&D of Safe Lithium Battery Cells for Electric Two-Wheelers

Battery Pack Simulation Model Development The energy storage products provide power assurance for nearly ten thousand

households or commercial and industrial owners in South Africa

Multi-dimensional precision simulation driving battery safety and performance optimization

Thermal

Air cooling and heat Temperature rise verification

dissipation of battery pack and comparison Battery thermal management:

Temperature field distribution prediction Battery pack drop Cell sealing simulation

Heat dissipation scheme optimization

Simulation

model Mechanical

Structural strength simulation

Mechanical stress/vibration/impact analysis of battery packs

Electrical Cell crush

Nickel sheet current analysis Ensuring structural integrity under extreme conditions Impact simulation

Bus current simulation

Current density and electric field simulation

Optimizing electrical connection reliability

Pouch cell simulation

Parametric electro-thermal model for BMS vibration Battery pack crush

multi-layer battery packs

Welding-Free Battery Pack with Stepwise Utilization Capability

Press Plate Tightening Screw [Key Performance: Research and Development status]

BMS Performance Indicators Unit Greenway K-tech

R&D investment CNY 10000 11902.82 1492.44

Cell Bracket

Number of research and development personnel Person 287 35

Press Plate

Connector Piece

Cell Bracket

Battery Cell

Connector Piece

Tightening ScrewSOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 61 62

Through these measures the Company not only enhances its technical strength and market competitiveness but also

provides strong protection for Intellectual property promotes technological innovation and improves the enterprise's sus-

INTELLECTUAL PROPERTY PROTECTION tainable development capability. These initiatives fully reflect the Company's sense of responsibility and commitment in pro-

moting technological innovation strengthening Intellectual property protection and fulfilling social responsibility laying a

solid foundation for the Company's long-term development.Patent Achievements [Key Performance: Patent Achievements and Software Copyrights]

The Company always regards technological innova- Added in 2024 Cumulative number

tion as the core driving force for enterprise development

Performance Indicators Number of Number of Number of Number of

and has now established a comprehensive intellectual applications (units) acquisitions (units) applications (units) acquisitions (units)

property protection system. As of the end of the report-

Invention patent 28 21 203 67

ing period a total of 951 patents have been applied for

including 203 invention patents. A total of 716 patents

have been authorized including 645 domestic patents Utility model patent 108 81 498 430

71 international patents and 67 invention patents. This

series of innovative achievements not only consolidates Appearance design patent 51 44 250 219

the Company's leading position in the industry but also

makes significant contributions to promoting the prog- Software copyrights 42 42 136 133

ress of green energy technology. In the future we will

continue to increase research and development invest- Total 229 188 1087 849

ment improve the innovation mechanism and strive for

greater breakthroughs in key core technology fields. Note: The above data includes Greenway and K-tech.Intellectual Property System

Greenway has established the Knowledge Management Procedure aiming to standardize and optimize the man-

agement of knowledge assets within the Company ensuring the accumulation sharing and application of technological

innovation and Intellectual property. Meanwhile the Company has set up the Group Patent Incentive Program to

encourage employees to actively participate in patent application and innovation. Based on the technical nature market

prospects and practical application value of the patent the Company offers generous rewards for relevant inventions

and innovations thereby motivating all employees to actively engage in R&D and technological innovation driving the

enterprise's technological leadership. In addition K-tech has formulated the Patent and Project Management Method

through which this methodology allows for orderly advancement of patent and project management. K-tech clarifies

various responsibilities and processes of patent management strictly controlling and managing the entire process from

technical research and development patent application patent protection to commercialization. Through effective proj-

ect management it ensures that patent technology can be efficiently transformed into the enterprise's core competi-

tiveness.SOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 63 64

QUALITY MANAGEMENT Configuration of Professional Laboratory and High-precision

Testing Equipment

The Company has always adhered to the core values of "quality-driven safe and reliable" practicing the core philosophy of "full participa- The Company has established a professional laboratory

tion continuous improvement striving for excellence and customer satisfaction" and establishing a systematic quality management system. Testing Qualificationsdedicated to ensuring that product safety performance meets

By integrating lean production methodology and digital system to implement the concept of continuous improvement the Company system- international standards. This department strictly adheres to GB 31241-2022

atically eliminates production waste optimizes resource efficiency and provides a solid foundation for quality stability. important domestic and international safety regulations pos-

GB 43854-2024

sesses various standard testing capabilities and conducts

comprehensive safety testing on products. In the future the IEC 62133-2:2017+AMD1:2021

QUALITY ASSURANCE CAPABILITY Company will keep up with the development trends of inter- UN 38.3(ST/SG/AC.10/11/Rev.8/Subsection 38.3)

national safety standards relentlessly expanding testing

Taking the ISO 9001 quality management system and the IATF 16949 automotive industry standard as the core framework the Com-

capabilities and certification scope further enhancing product ANSI/CAN/UL/ULC 2271:2023

pany has established a three-tier collaboration platform consisting of the Quality Assurance Center Product Quality Center and

safety verification levels and providing safe and reliable prod-

After-sales Service Center forming a closed-loop management framework of "prevention-control-traceability". The Quality Management

uct assurance for global customers.Department as an independent organization implements a CEO vertical management model enjoying a privileged channel to report

directly to the CEO within the organizational structure ensuring the authority of decision-making and the independence of execution. In

terms of technical support the professional laboratory accredited by the China National Accreditation Service for Conformity Assessment

(CNAS) is equipped with high-precision testing equipment capable of executing international standard tests such as GB 31241-2014 Test Equipment

GB/T 36972-2018 providing assurance for product safety and compliance. Meanwhile the Company introduces a digital system to sys-

tematically achieve the standardization transparency and intelligence of quality management.Comprehensive Quality Management Platform Organizational Structure

The Company's Quality Management Platform is centered around the Quality Assurance Center Product Quality Center and After-sales

Service Center covering system certification supplier management and multi-product division (LB/NB/KD) production quality control

achieving a "R&D-Production-After-sales" full-link closed-loop management. Through the collaborative efforts of the QE and QC teams

as well as the global after-sales service network in countries such as China Belgium and Indonesia etc. a comprehensive and complete

quality assurance system has been established.High-frequency vibration table Charge and discharge cabinet

Organizational Structure of the Quality Management Platform

Quality Management Platform

Quality Assurance Center Product Quality Center After-sales Service Center

Supplier Quality

System and Certification Management LB Quality NB Quality KD Quality Domestic Belgium IndonesiaDCC

Management Department Department Department Department Department After-sales After-sales After-sales

High and low temperature

Mechanical shock table Drop test table impact chamberSOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 65 66

Digital Quality Management Tool of "One Center Eight Systems" Production Process: Hierarchical Control Ensures Zero Defects in the Process

The Company has built a digital quality management platform based on "One Center Eight Systems". Taking the IMS as

In the production phase the six elements of "man-machine-material-method-environment-measurement"

the center this platform integrates eight major systems: MES QCS WMS EAM SPC Andon System BI IOT(Internet of

are confirmed at the start of the line with joint verification by production engineering and quality teams to

Things) and connects the quality data chain from design production to warehousing and after-sales service. Through

ensure compliance at the production line startup. Unqualified products are intercepted through a three - level

real-time data monitoring and analysis this platform can quickly identify and respond to potential risks providing strong

protection mechanism of "self - inspection mutual inspection and special inspection" and key processes are

data support for the continuous improvement of the Company's product quality management capabilities ensuring high

monitored in real - time in combination with SPC (Statistical Process Control). The SQDC (Safety Quality Delivery

quality and reliability of products.Cost) visual kanban management is implemented and the MES system is integrated to dynamically track indica-

tors such as work order completion rate and first-pass yield rate.IOT: Internet of Things WMS: Warehouse Management System

After-sales Closed Loop: Data-driven Continuous Improvement

ANDON: Andon System MES: Manufacturing Execution System

IMS System In the after-sales phase feedback is collected through the VOC (Voice of the Customer) and the RMA (Re-

turn Merchandise Authorization) system is used to quickly identify root causes applying FACA (Failure Analysis

SPC: Statistical Process Control QCS: Quality Control System and Corrective Action) and CIP (Continuous Improvement Plan) to drive design and process optimization. Mean-

while a 4M (Man Machine Material Method) change control mechanism is established to ensure full traceability

of improvement measures forming a quality ecological closed loop of "prevention-control-improvement".EAM: Enterprise Asset Management BI: Business Intelligence

Digital Quality Management Platform of "One Center Eight Systems"

PRODUCT LIFECYCLE QUALITY MANAGEMENT Product Lifecycle Management and Quality Control Process

The Company has established a quality management system that spans the entire product lifecycle covering the three

core stages of R&D production and after-sales. Through systematic process design and refined control tools it achieves Customer

Requirements Concept——Plan——Development——Verification——Release Material Procurement Production After-sales Service

comprehensive quality risk prevention and control across the entire value chain along with relentless optimization.DQE PQE SQE/IQC PQE/IPQC/FQA CQE

Research and Development Front-end: IPD System Drives Quality Prevention

·VOC Collection

·Demand Identification/Analysis ·Confirm CTP ·Supplier Audit/ ·First Article Inspection

Coaching Patrol Inspection ·Quick Response

The Company takes IPD (Integrated Product Development) as the core framework to establish a ·Develop APQP Plan ·Follow-up Pilot Test (2485 Principle)

cross-department collaboration mechanism during the stages of concept initiation plan formulation devel- ·Participate in TR Review ·PPAL Issue Closure ·Incoming Material ·MES 100% Functional Testing

Inspection

opment and verification. Through TR (Technical Review) and DCP (Decision Review) checkpoints combined ·RMA Repair·Confirm CTQ ·Five Characteristics ·Self-inspection/Mutual

with APQP (Advanced Product Quality Planning) tools it accurately identifies CTQ (Critical to Quality) char- Verification Inspection/Special Inspection ·FACA·Reliability Testing

acteristics and completes reliability verification. Quantitative Quality Gates are set at each stage to clarify the ·CIP

·DPAL Issue Closure ·Finished Product Inspection

deliverable standards for requirement analysis design verification and process implementation ensuring full

·4M Change

traceability of all elements.·SPCSOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 67 68

LEAN CONTINUOUS IMPROVEMENT

[Case: SSGB Six Sigma Green Belt Project]

The Company is driven by the dual core of "Lean Production" and "Continuous Improvement". Greenway has formulated

the Continuous Improvement Management System and K-tech has established the Improvement Proposal Management

System constructing a full-value chain management system covering R&D manufacturing and the supply chain. Relying on In 2024 Greenway's var ious

tools such as 6S on-site management and standardized operations the Company systematically eliminates production waste. production departments from the

Meanwhile with improvement proposals focused topics and Six Sigma Green Belt projects as carriers it stimulates the inno- Production Center to the PMO suc-

vative vitality of all employees achieving participatory management where "everyone is an improver". By establishing a cessfully completed 15 Six Sigma

dynamic control platform of "target decomposition-process monitoring-performance closed loop" the Company integrates Green Belt projects. These projects

cross-department resources to achieve full link precision control significantly shortening the delivery cycle and reducing systematically promoted the imple-

quality risk. mentation of the lean improvement

The Company has established a three-level improvement matrix of "simple proposals-special topics-strategic break- culture and provided methodological

throughs" relying on the Continuous Improvement Department's ledger for project classification and grading management support for the continuous optimiza-

and encouraging innovation through a monthly quarterly and annual three-level recognition mechanism. In 2024 the Per tion of quality efficiency and cost.Capita Productivity (UPPH) increased from 5 to 6.5 representing an increase of 30%. More than 5600 proposals were imple-

mented covering eight major areas including process optimization and energy consumption management created direct

economic benefits of 4.42 million RMB. Honorary Awarding of the Six Sigma Certificate

[Case: Lean Improvement Journey]

The eighth Lean Improvement Journey hosted by Greenway was themed "Extreme Lean Breakthrough

and Rise" where Greenway's management and Business Unit Leaders gathered for the Lean Improvement

Journey activities conducting in-depth on-site inspections of the improvement projects in 2024 at the factory [Case: Focus Topics Special Breakthrough]

frontline. The proposers vividly explained the cases of technological innovation through physical demonstra-

tions and the functional departments simultaneously shared process optimization results. Through workshop

observation and conference discussion everyone could directly experience the efficiency improvement and

cost optimization brought by 5649 proposals. Greenway regular ly holds focus

topic review meetings where the execu-

tive team reviews the progress of topics

on-site and sets up the "Star of Struggle"

award to motivate the improvers. In

2024 cost reduction of approximately

1 . 2 4 4 9 m i l l i o n R M B w a s a c h i e v e d

through improvements in focus topics.Greenway NB Business Unit Ninth Focus Topics Kick-off Meeting

Greenway's Eighth Lean Improvement JourneySOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 69 70

PRODUCT RESPONSIBILITY

Trade Safety

Hazardous Substance Management

Under the high standard principles of actively practicing

As a professional battery design and manufacturer the Company consistently inte- international trade safety and facilitation Greenway has been

grates the sustainable development concept throughout the product lifecycle. As an envi- awarded the AEO Advanced Certified Enterprise Certificate offi-

ronmentally conscious enterprise the Company takes Hazardous Substance Free (HSF) as cially issued by General Administration of Customs of the People's

a core design principle strictly adhering to customer requirements and international envi- Republic of China through comprehensive and meticulous audits

ronmental regulations from the early stages of product development strictly managing and strict professional evaluations. This not only highlights Green-

the Restriction of Hazardous Substances (ROHS) and the Registration Evaluation Autho- way's internationally leading level in international trade compli-

rization and Restriction of Chemicals (REACH) standards which specify prohibited and ance management and supply chain safety but also provides a

restricted substances. By establishing a green product design system the Company prior- solid and powerful guarantee for the global trade safety of the

itizes the use of recyclable and degradable environmental materials and has obtained Company's products. AEO Advanced Certified

IECQ QC 080000 Hazardous Substance Process Management System Accreditation to Enterprise Certificate

ensure products meet international environmental and quality standards. In the supply

chain segment the Procurement Department strictly implements supplier environmental

qualification review to ensure the environmental compliance of raw materials from the

source providing customers with safe and sustainable green product solutions aiding the QUALITY CULTURE

industry's green transformation. IECQ QC 080000 Hazardous

Substance Process Management Certificate The Company continuously promotes the construction of quality culture through four types of work: quality training

Product Safety quality promotion quality activities and quality improvement.The Company ensures that product safety performance meets standards by establishing a comprehensive safety manage-

ment system. The Company formulates a series of safety guidelines and comprehensively evaluates product safety by combining Training plans are developed for employees at different levels offering diverse courses through

Quality

actual test verification and safety regulation compliance review. Meanwhile danger warning signs and explosion warning signs are a combination of internal instructors and external experts. The training content covers courses Training such as ISO three standards IATF 16949 internal audit training SSGB training basic knowledge

prominently marked on the exterior of the product to clearly alert users and related technical personnel of potential risks prevent- of electronic components compliance and basic quality awareness.ing safety hazards caused by improper use of the battery thereby ensuring the safe use of the product.During the reporting

period the Company's battery products won the world's first EN50604-1:2016+A1:2021 certificate issued by SGS an international

certification body. 1. Carry out centralized promotional activities during quality month further reinforcing quality

awareness among all employees through prize-winning quizzes debate competitions and pro-

Accreditation test item: Quality cess error-finding activities.Promotion 2. The Company has launched the "Lean Calendar" and selected 12 lean-related books each with

a QR code for easy access and reading.Summary of Accreditation Projects in 2024

118

100 95 1. Conduct lean improvement journey activities;

2. Implement various forms of quality improvement initiatives such as focus topics Total Produc-

Quality tive Maintenance (TPM) IE topic improvement Quality Team Evaluation rationalization sugges-

Activities tions SSGB etc.;50 37 33 3. Host a quality activity month enhancing team collaboration and quality awareness through diverse quality activities like knowledge competitions "Spot the Difference" Mid-Autumn Festival

13 13 10 10 9 lantern riddles debates etc.

0

UN CE CB Other FCC UL IC Battery PSE

command Quality Set up encouragement awards for rationalization proposals to enhance employees' awareness of

Improvement autonomous improvement.Note: In addition to the above accreditation projects Greenway products have also passed the following regional market

certifications: China Compulsory Certification (CCC Certification) Taiwan Market (BSMI Certification) Korea Market (KC Cer-

tification) India Market (BIS Certification) Russia Market (Gost-R Certification) Chemical Testing (ROHS REACH).SOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 71 72

Lean Figures Quality Activity Month精益道场培训

"Spot the Difference" - SOP Gap Analysis

"I manufacture and I am responsible! I create

Lean Moments and I undertake!" Theme Knowledge Contest

Lean Dojo Training

K-tech Second Improvement Journey

Mid-Autumn Festival Quality Lantern Riddles Activity

Monthly Summary Meeting of Continuous Improvement

in the LB Operation CenterSOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 73 74

CUSTOMER SERVICE AND SUPPORT PRODUCT RECALL

Greenway has established a complete product recall management system and formulated the Product Recall Manage-

ment Measures which clearly stipulate the recall process division of responsibilities and emergency handling mechanism to

The Company upholds the core values of "customer-centric honest and innovative" by enhancing customer service ensure a quick response and effective measures when products have quality issues or exceed harmful substance limits. The

quality through an efficient response mechanism systematic management system cross-departmental collaboration specific recall process is as follows: After the recall situation is discovered (such as customer complaints failed inspections

data-driven continuous improvement strategy efficient communication platform and a service attitude that balances etc.) the project team conducts a review and confirms the recall scope formulating and approving the recall plan issuing a

professionalism and responsibility. This ensures that customer inquiries and complaints receive immediate feedback recall announcement to notify relevant parties implementing the recall and records and tracks it isolates the recalled prod-

showcasing professional standards and a high sense of responsibility in every service interaction thereby comprehen- ucts compiling a report and conducts an evaluation after the recall ends and finally verifying the recall procedure and for-

sively enhancing customer satisfaction and loyalty. mulates improvement measures.CUSTOMER SATISFACTION SUSTAINABLE SUPPLY CHAIN

The Company attaches great importance to the improvement of customer satisfaction and has established the Customer

Satisfaction Management Regulations. Through the annual survey it accurately covers the Top 10 customers strategic cus-

The Company regards suppliers as important partners aspiring to work with suppliers to create a win-win industry develop-

tomers and new product delivery customers of each product line. Sales personnel distribute and collect the Customer Satis-

ment environment and achieve the creation of functionality and value pursued by customers. Simultaneously the Company

faction Survey which is then compiled into a summary table for in-depth analysis resulting in a summary report. In response

adheres to the concept of sustainable procurement. In terms of supplier cooperation in addition to focusing on quality price

to customer dissatisfaction a "non-conformance report" is issued and the internal responsible departments are urged to

delivery capability and other factors the Company also expects to leverage its strong influence and wide reach to incorporate

take corrective/preventive measures. The results are fed back to customers and all records are kept according to the "Docu-

environmental and occupational health and safety requirements into our important criteria for selecting suppliers.ment and Record Control Procedure". Through multiple channels customer feedback is comprehensively collected and ana-

lyzed to accurately assess customer satisfaction with the Company's products and services.In 2024 the Company adopted a comprehensive scoring mechanism (comprising scores from the customer satisfaction SUPPLIER OVERVIEW

survey customer scorecard and internal performance monitoring averaged to determine customer satisfaction) to analyze

customer satisfaction for the electric motorcycle product line. The analysis showed that 85.71% of customers scored 90 or The Company has established a supply chain system mainly focusing on the supply of core raw materials for battery

above on the survey with an average score of 89.73. Customers who rated it as "very satisfied" accounted for 42.86% and modules which mainly covers key materials such as positive and negative electrode main materials battery cells electronic

those who rated it as "satisfied" accounted for 57.14%. There were no negative comments and the score was 100. Based on components hardware parts plastic parts etc. In terms of supplier selection and management the Company attaches

excellent performance in indicators such as on-time delivery complaint handling and market failure rate the internal perfor- importance to product quality delivery capability and supply stability. Meanwhile the Company actively implements a local-

mance monitoring score was 96.43. Therefore the customer satisfaction score was 95.39 in 2024. In the future the Company ization procurement strategy to support regional economic development. In 2024 the Company worked with a total of 524

will continue to improve new product development pricing project management and process levels to achieve higher cus- raw material suppliers including 520 Chine se local suppliers and 4 overseas suppliers with the local procurement amount

tomer satisfaction. ratio reaching 93.34% and overseas procurement amount ratio at 6.66% fully reflecting the Company's emphasis on supply

chain localization and sustainability. In th e future the Company will continue to optimize the supplier management system

promote the green transformation of the supply chain so as to achieve coordinated development of economic benefits and

CUSTOMER COMPLAINT HANDLING PROCESS environmental benefits.The Company has established the Customer Complaint Handling Control Management Standard focusing on efficiently

resolving customer complaints reducing losses for both parties and improving customer satisfaction. This standard clearly [Key Performance: Situation of Raw Material Procurement Suppliers]

defines complaint classification process and time limit ensuring that all types of complaints especially formal complaints

are promptly responded to and properly handled according to the 2485 principle (first response within 2 hours - emergency Procurement Regions Number of Suppliers Procurement Amount Ratio (%)

response within 24 hours - root cause governance within 48 hours - closed-loop verification within 5 working days). Through

cross-department collaboration the Quality Center takes the lead in investigation analysis and verification while the rele- Chinese Local Procurement 520 93.34

vant responsible department formulates and implements corrective and preventive actions to achieve a closed-loop solution

to the problem. Meanwhile customer complaint data is regularly analyzed and archived and the lessons learned are fed back Overseas Procurement 4 6.66

to the R&D and other links to promote the continuous improvement of quality. The Company promises to reply to complaints

within the stipulated time and taking emergency containment measures using the 8D method to ensure that complaints are Total 524 100

handled systematically and thoroughly demonstrating the Company's professionalism and sense of responsibility.SOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 75 76

SUPPLIER MANAGEMENT Enhancement of Sustainable Development Capability:

Greenway is committed to establishing long-term stable strategic part-

nerships with suppliers to promote the collaborative development of the

System construction: supply chain. The Company regularly organizes supplier capacity build-

ing activities and holds a supplier special training and exchange meeting

annually to help suppliers enhance their environmental and social

The Company has established a supplier management system and developed a comprehensive supplier evaluation system. This

responsibility management capability.specification covers requirements such as product quality standards corporate credit and compliance management. New sup-

pliers are required to sign core agreements including Supplier Quality Agreement Supplier Integrity Agreement Supplier Pur-

chase Agreement and Supplier Confidentiality Agreement. During the reporting period more than 90% of suppliers within the

Supplier training

Company's management scope completed the agreement signing.Suppliers are required to sign the Environmental and Occupational Health and Safety Requirements Notice which clearly incor-

porates key clauses on environmental management and occupational health and safety.The requirements for sustainable development are integrated into the system such as requiring suppliers to provide an envi- [Key Performance: Raw Material Suppliers Related Data]

ronmental compliance report material composition table/MSDS safety certification certificate etc. when sending samples and

emphasizing the preferential selection of customs AEO advanced certified enterprises to strengthen trade safety and legal

compliance management.Raw material supplier agreement signing rate for Number of supplier exchange/

Supplier Quality Agreement Supplier Integrity training meetings held

Greenway Agreement Supplier Purchase Agreement and

New Supplier Access Audit: Supplier Confidentiality Agreement

In the new supplier admission assessment the procurement team of Greenway adheres to the following core selection princi- 90% 7sessions

ples to ensure that supplier qualifications are deeply aligned with Greenway's strategic needs:

Compliant operational capability: Legally engage in production and operation and possess both a business license and nec-

essary production and operation licenses.Compliance with customs requirements: We give priority to selecting enterprises that are advanced certified enterprises under

the customs AEO advanced certified enterprises. Before introducing a supplier the enterprise credit rating and any illegal or

dishonest activities of the enterprise must be checked on the [China Customs Enterprise Import and Export Credit Information

Publicity Platform]; CONFLICT-FREE METALS MANAGEMENT

Corporate credit: If a newly introduced supplier does not have customs registration for import and export operations the

enterprise must be checked on the [National Enterprise Credit Information Platform] for any illegal or dishonest activities. If

such activities are found cooperation will not be considered. The Company is committed to building a responsible and sustainable mineral supply chain management system strictly

adhering to the Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk

Areas of the Organization for Economic Co-operation and Development (OECD) Chinese Due Diligence Guidelines for

Responsible Mineral Supply Chains of the China Chamber of Commerce of Metals Minerals & Chemicals Importers & Export-

ers (CCCMC) and the Dodd-Frank Act among other international standards and regulations. The Company explicitly requires

Supplier Performance Appraisal: itself and its suppliers to conduct due diligence on the sources of key minerals such as Gold (Au) Tantalum (Ta) Tungsten

(W) and Tin (Sn) to ensure they do not originate from conflict zones or high-risk areas. The Company incorporates relevant

The Company conducts monthly performance assessments and annual supplier reviews for new and qualified suppliers to due diligence management requirements into supplier contract terms to formulate the Conflict-Free Metals Policy and Com-

improve the level of supplier management. mitment and to require all suppliers involved in the mineral supply chain to sign this commitment. The Company has a total

Monthly Assessment: Qualified strategic and customer-designated suppliers are assessed in four dimensions: quality (SQE of 166 metal suppliers and has signed the Conflict-Free Metals Policy and Commitment with 84 suppliers achieving a sign-

Score) delivery time price and service (Procurement Score). They are categorized into A B C D four level based on total

ing rate of 50.60%.scores. Different management systems are applied to suppliers of different levels. Higher-level suppliers are prioritized for

order allocation while suppliers whose assessment results are at Level D must submit a Supplier Monthly Assessment

Improvement Report and be tracked for rectification by the responsible department. [Key Performance: Supplier Responsible Mineral Commitment Data]

Annual Review: Combined with the annual list of qualified suppliers a supplier on-site assessment plan is compiled and exe-

cuted according to quality performance annual performance assessment purchase volume and other factors.Elimination mechanism setting: If Level D suppliers fail to rectify or trigger specific conditions (such as major anomalies) Signing Rate of Suppliers for the Conflict-Free Metals Policy and Commitment 50.60 %

they are moved to the blacklist according to Supplier Rectification and Elimination Management.SOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 77 78

[Case: Exhibition | Mountain City has "Lithium" Greenway Lithium Battery Shines at the 16th

INDUSTRY DEVELOPMENT PROMOTION China International Battery Fair]

The star of this exhibition is the Golden Hoop Stick 34145 Bat-

tery a safety-oriented lithium battery specially designed by Green-

way for two-wheeled electric vehicles. The Golden Hoop Stick

Greenway has always regarded promoting industry progress as an important mission of the enterprise. Through deepening industry-uni- 34145 battery explains the characteristics and advantages of large

versity-research collaboration strengthening industry strategic exchanges and actively participating in industry ecosystem construction it is cylindrical full tab steel shell structure lithium batteries from the

committed to contributing to technological innovation and sustainable development in the new energy field. With an open and collaborative aspects of battery cell structure design and innovation material

attitude the company closely cooperates with universities research institutions and industry partners to jointly tackle technical challenges and and process design development: low internal resistance fast heat

promote the enhancement of industry standards and technological progress. Simultaneously Greenway actively participates in domestic and dissipation high efficiency; high strength impact resistance; good

international exhibitions and industry activities to expand brand influence promote the coordinated development of the industrial chain product consistency safe and reliable.upstream and downstream and inject new momentum into the prosperity and innovation of the industry.DEEPENING INDUSTRY-UNIVERSITY-RESEARCH [Case: Focus on Canton Fair│Greenway Lithium Battery Leads the New Wave of Green Technology]

COLLABORATION At the exhibition site Greenway showcased its electric motor-cycle solutions and cutting-edge technological achievements.Among them Greenway's high-end custom solutions represented

Greenway actively builds an industry-university-research collaboration platform jointly promoting battery technology research and devel- by DM332 and DM73 using high energy density LG 21700 battery

opment with multiple universities and strengthening the cultivation of industry talents. On June 15 2021 Greenway signed a five-year "Ad- cells have advantages such as high rate high safety and high sta-

vanced Lithium-ion Battery Manufacturing Key Technologies" school-enterprise cooperation project with Central South University focusing on bility. Combined with Greenway's high-voltage BMS specifically

high-performance large cylindrical battery and solid-state battery technology breakthroughs. Centering on material innovation and process developed for electric motorcycles (the detection unit can support

optimization the project has carried out simulation of large cylindrical batteries development of lithium manganese oxide battery functional up to 100 series battery packs) it can easily achieve efficient and

electrolyte construction of solid-state/semi-solid battery systems exploration of sodium-ion battery technology and cutting-edge research on rapid energy transfer within the battery. Currently this series of

silicon anode prelithiation and metal lithium anode covering the entire chain of research and development from basic materials to system customized products is widely used by electric motorcycle manu-

integration. Up to now a total of 18 invention patents have been applied for (3 authorized) achieving 72% of the technical goals laying the facturers such as Surron Talaria and Niu bringing consumers an

foundation for overcoming the bottleneck of high energy density and high safety lithium battery manufacturing and assisting Greenway in ultimate and powerful driving experience.technology iteration and industrialization in the fields of energy storage and electric vehicles. Since the launch of the industry-university-re-

search strategic cooperation with South China University of Technology on June 27 2024 both parties have focused on jointly tackling key

problems in the field of new power electronics conversion and control technology. At present the technical research and development project [Case: Greenway's Dual-Wheel Drive "Core" Strategy Debuts at Milan Two-Wheel Exhibition EICMA]

of "Single Cell Charge-Discharge High Gain Bidirectional DC Converter Development" has been fully carried out and the deep integration of

technological innovation and industrial application has been promoted through deepening the school-enterprise cooperation mechanism.Additionally the Company has jointly applied for the 2024 Dongguan Major Science and Technology Project with institutions such as On November 5 2024 Greenway with its power solutions for

Guangdong University of Technology and South China Agricultural University. This project focuses on the field of "new energy" especially the electric motorcycle and electric-assisted bicycle was invited to par-

research and industrialization of "energy storage battery technology and key materials". As the leading organization the Company is responsi- ticipate in the 2024 EICMA exhibition in Milan Italy. EICMA is one of

ble for project application implementation periodic summary and final acceptance while also undertaking the main roles of funds investment the most influential two-wheeled exhibitions in the world. At this

and technological achievements transformation. exhibition Greenway showcased safe intelligent and green travel

solutions to the industry with the theme of "Safety Sustainable

Development Intelligence".PROMOTION OF STRATEGIC COOPERATION AND

EXCHANGE IN THE INDUSTRY

[Case: Greenway Ignites the Motorcycle Expo Stunning the Audience with Comprehensive

Greenway is committed to deepening strategic cooperation and exchange both within and outside the industry to enhance brand image Products and Attracting Industry Attention with Hardcore Strength]

expand market influence and drive business growth. To achieve this we adopt a multi-dimensional strategy.We actively integrate into the industry ecosystem by joining multiple domestic and international business associations closely related to On September 13 the China International Motorcycle Trade

our business such as the European Light Electric Vehicle Association Dongguan Battery Industry Association and Dongguan Energy Storage Exhibit ion (abbreviated as "Motorcycle Exhibit ion") opened in

Industry Alliance to strengthen industry connections. These measures enable us to quickly capture industry trends expand our business net- Chongqing. As the only national-level professional motorcycle exhi-

work and obtain cutting-edge industry information. bition in our country the Motorcycle Exhibition has become a

We highly value exhibitions as an important platform for industry exchanges. The Company actively participates in various significant world-leading professional motorcycle exhibition leading new

international and domestic exhibitions such as global exhibitions the Canton Fair auto shows motorcycle exhibitions and electronics exhibi- trends in industry development.tions to comprehensively showcase the Company's innovative products and technical strength. These exhibitions not only enhance the Compa-

ny's brand awareness but also provide us with valuable opportunities to engage in face-to-face communication with domestic and internation-

al customers partners and industry experts further broadening the Company's market channels and business scope.SOCIETY 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 79 80

SOCIAL WELFARE [Case: Protecting the Earth GW in Action]

On April 20 2024 Greenway successfully held an Earth Day event at Fuling Lake with the theme "Protecting

The Company has always deeply integrated social responsibility the Earth GW in Action" attracting the active participation of approximately 100 employees. By integrating

into the enterprise's genes practicing the concept of "taking from healthy hiking activity with the "Environmental Guardian Action" employees personally practiced the green travel

society giving back to society" through concrete actions. We have concept promoted environmental knowledge to tourists advocated green travel picked up litter along the way

established a public welfare brand matrix covering community care and demonstrated deep care and responsibility for environmental protection through practical actions highlight-

and educational support and explored a social responsibility practice ing Greenway's positive contribution and firm commitment to promoting social welfare and fulfilling social

model of "Public Welfare + Culture + Employee Participation" with responsibility.innovative thinking actively contributing to sustainable development.COMMUNITY INVOLVEMENT

Since its establishment the Company has had a profound understanding of its interdependent relationship with the

community integrating social responsibility into strategic decision-making and daily operations. Based on a comprehensive

consideration of community dependency and the actual influence of the enterprise we ensure that development does not

come at the expense of community rights and actively build a two-way communication social participation mechanism to

promote transparent information flow and achieve harmonious win-win outcomes for the enterprise and the community.[Case: Planting Hope Adding More Green to the Earth]

On the occasion of Tree Planting Day in Year 2024 Greenway launched a green initiative with the theme

"Planting Hope Adding Green Carbon to the Earth". A volunteer team composed of 7 core employees in collab-

oration with a professional landscaping institution to scientifically plant 100 native trees in Dongguan Ecologi-

cal Park to high standards. This initiative not only added 2000 square meters of green coverage to the commu-

nity but also innovatively established a full-cycle management system of "tree adoption-growth tracking-car-

bon sink measurement". By installing intelligent monitoring equipment and organizing regular visits it ensures a

98% survival rate of the trees and transforms the environmental concept into visual data thereby deepening

employees' ecological awareness.ASSISTING IN UNIVERSITY EMPLOYMENT

The Company pays attention to the employment issues of universities understanding the importance of university grad-

uates to national development as their employment concerns personal future social stability and economic sustainable

development. Although South China University of Technology has achieved remarkable results in employment education it

still faces challenges such as intensified competition in the graduate employment market and tight resource allocation espe-

cially in supporting graduates from disadvantaged families building employment internship bases and enhancing employ-

ment capabilities which urgently require more support. The Company's donation of 30000 RMB successfully alleviated the

school's financial pressure optimized employment services assisting students in need enhancing students' employment

competitiveness achieving a win-win situation for multiple parties and injecting new vitality into the development of educa-

tion and industry.07 04

CORPORATE GOVERNANCE

Improvement of Corporate Governance 83

Identification and Analysis of Material Topic 87

Economic Benefits 92

Compliance Management 93

Business Ethics Management 94 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORTInformation Security and Privacy Protection 97 GUANGDONG GREENWAY TECHNOLOGY CO. LTD.Internal Audit 98CORPORATE GOVERNANCE 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 83 84

IMPROVEMENT OF CORPORATE GOVERNANCE Board of Directors

The Board of Directors of the Company as the core decision-making body of operations management is responsible for

formulating the company development strategy supervising company operations management and selecting and evaluating senior

The Company strictly complies with the China Securities Regulatory Commission's Code of Corporate Governance for management personnel among other key responsibilities. The Board of Directors always strictly follows the provisions of the Articles

Listed Companies establishing a governance structure composed of the Shareholders' Meeting Board of Directors and man- of Association within the authorization scope of the General Meeting of Shareholders adhering to the principle of prudence

agement ensuring clear responsibilities standardized operations and guaranteeing the fairness and scientific nature of deci- making scientific decisions on the Company's major business activities and development goals and fully safeguarding the long-term

sion-making. The company selects appoints and removes directors and supervisors in accordance with the provisions of the interests of the Company and all shareholders.Company's Articles of Association ensuring that the Board of Directors and the Board of Supervisors can play an important The Board of Directors is accountable to the General Meeting of Shareholders regularly reporting work progress and accepting

role in major decision-making and operation management. supervision and guidance. Through this mechanism the Company ensures the scientific and democratic nature of the governance

structure providing a solid institutional guarantee for the Company's steady development.[Key Performance: Situation of the Board of Directors]

GOVERNANCE STRUCTURE

Number of Board of Directors held Number of matters reviewed at the Board of Directors

General Meeting of Shareholders Greenway

Nomination Committee 5Number of Times 34Number of Items

Board of Supervisors

Strategy Committee

Board of Directors The Company places great emphasis on the diversity construction of the Board of Directors. At the time of electing members

of the Board of Directors the Company adheres to a comprehensive and prudent principle considering various factors such as the

Audit Committee candidate's gender educational background professional experience and term of office. Through this initiative the Company is

committed to creating a Board of Directors with a balanced skill set rich experience and diverse perspectives. This is to fully lever-

age the synergistic effects of diversity providing broader vision and more efficient support for the Company's strategic deci-

Remuneration and sion-making. During the reporting period the Board of Directors consisted of 5 directors including 2 independent directors. The

President Appraisal Committee Board of Directors has established an Audit Committee Strategy Committee Nomination Committee and Remuneration and

Appraisal Committee and sets up relevant specialized committees as needed. All members of the specialized committees are com-

posed of directors among which independent directors should account for more than half and serve as conveners in the Audit

General Meeting Of Shareholders Committee Nomination Committee and Remuneration and Appraisal Committee. At least one independent director in the Audit Committee should be an accounting professional. The Company emphasizes various factors such as industry experience back-

The Shareholders' Meeting of the Company is the highest authority exercising its powers according to law to ensure share- ground and gender of the members of Board of Directors to ensure that the composition of the of Board of Directors is both opti-

holders' rights. The Company formulates the Rules of Procedure for General Meetings of Shareholders in accordance with the Com- mized and diverse. Directors are elected or replaced by the General Meeting of Shareholders and may have their duties terminated

pany Law of the People's Republic of China Rules on Shareholders' General Meetings of Listed Companies and other relevant laws by the General Meeting of Shareholders before the expiration of their Term of Office. The term of office of a director is three years

regulations normative documents and the Articles of Association. The General Meeting of Shareholders of the Company is divided and they may be re-elected upon the expiration of their term.into the Annual General Meeting of Shareholders and the Extraordinary General Meeting of Shareholders with the former held once

a year and the latter convened under specific circumstances. The Board of Directors Board of Supervisors and eligible sharehold- [Key Performance: Situation of the Specialized Committees of the Board of Directors]

ers can propose to convene an Extraordinary General Meeting of Shareholders following strict procedures and legal requirements.The meeting must be announced according to law and a legal opinion must be provided to ensure compliance. The General Meet- Performance Indicators Number of Members Number of Meetings Held

ing of Shareholders is conducted through on-site meetings and voting can also be participated in via the Internet and other

means ensuring the convenience and fairness of shareholders exercising their rights.Audit Committee 3 5

[Key Performance: Situation of the General Meeting of Shareholders]

Nomination Committee 3 2

Number of General Meeting of Number of items reviewed by the

Greenway Shareholders held General Meeting of Shareholders

2Number of Time 13Number of ItemsCORPORATE GOVERNANCE 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 85 86

Board of Supervisors Board of Directors (Decision-making Level) General Manager (Operation Level)

The Board of Supervisors is the Company's supervisory body and is accountable to the General Meeting of Share-

Review and approve the Company's sustainable Review and approve the Company's sustainable

holders. The Board of Supervisors shall legally inspect the Company's finance supervise the legal compliance of the

development strategic planning and objectives; development report;

directors and senior management personnel in performing their duties exercise other powers stipulated in the Articles of

Review and approve the sustainable governance Be responsible for reviewing the Company's annual

Association and safeguard the legal rights of the Company and shareholders. During the reporting period the Company

structure and important sustainable development sustainable development work budget execution

revised the Rules of Procedure for the Board of Supervisors and other governance systems in accordance with changes

policies; and achievements compiling a report to present to

in relevant laws regulations and normative documents as well as the actual situation of the Company. These revisions

Ensure the effectiveness of risk management and the Board of Directors;

further clarified and standardized the responsibilities of the General Meeting of Shareholders Board of Directors and

the internal control system; assess the Company's Closely monitor sustainable development-related

Management Level in company governance thereby further improving the Company's governance system.sustainable development-related risks and oppor- matters that have a significant impact on the Com-

tunities. Supervise the operation of the Company's pany's sustainable development and report to the

[Key Performance: Situation of the Board of Supervisors] sustainable development management. Board of Directors in a timely and accurate manner.Number of Board of Supervisors held Number of matters reviewed by the

Greenway Board of Supervisors

4 Development Committee (Executive Level) Working Group (Executive Level)Number of Times 19Number of Items

Formulate specific measures and planning for sus- Formulate and implement specific work plans at all

tainable development management policy; levels of sustainable development in accordance with

DEVELOPMENT COMMITTEE Advocate and implement the Company's integrity the Company's sustainable development management management risk management and other related policies and objectives;

work; Conduct regular statistics and analysis of sustainable

The Development Committee of the Company is directly established and led by the General Manager adopting a Develop policies related to the Company's sustain- development-related data and submit them to the

layered governance structure to form a closed-loop management system of strategic decision-making execution and able development and conduct regular statistics Development Committee for review to understand the

implementation and collaborative interaction. To clarify the development management functions the Development and updates; progress of achieving the Company's sustainable devel-

Committee has established the following management organizational structure: Track review and revise the implementation and opment management performance targets;

effectiveness of the Company's sustainable devel- Assist in the preparation of the Company's annual sus-

opment; tainable development report submit it to the committee

Decision-making Level Board of Directors Other matters resolved by the General Manager to and the General Manager for review and approval and

be handled by the committee. disclose it;

Operation Level General Manager Fulfill other responsibilities assigned by the com-mittee.Executive Level Development Committee

Corporate Environmental Social Responsibility

Governance Group Governance Group Management Group

Process and Information Center

Research and Development Center

Purchasing Department

Quality Assurance Center

Sales Department

Manufacturing Department

Manpower Administration Center

Operation Center

Research and Development Center

Manpower Administration Center

Legal Affairs Department

Strategic Planning Department

Finance Center

Board Secretary OfficeCORPORATE GOVERNANCE 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 87 88

IDENTIFICATION AND ANALYSIS OF STAKEHOLDER TOPIC COMMUNICATION

MATERIAL TOPIC Stakeholder DockingCategory Stakeholders Concerned Topics Communication Channel Department

Government Inspection

Environmental

Through a systematic process of identifying material issues the Company identifies stakeholders closely related to its business com- Management System Exchange Visits

prehensively assessing the Company's impact in the economic environmental and social fields. Subsequently 448 valid feedbacks were Regular Work Reports

collected through a questionnaire survey and topics were quantitatively scored and ranked in importance from the impact importance Addressing Climate Change

Government official website Public Affairs

dimension. Ultimately highly important topics such as climate change response and occupational health and safety were identified pro- Department

Human Rights Protection policy acquisition

viding a decision basis for sustainable development management through the matrix analysis method.Talent Introduction and

Development Receiving government documents

IDENTIFICATION PROCESS OF MATERIAL TOPIC Participation in policy conferences

Sustainable Supply Chain

Government/

Public Affairs Department

The Company conducts materiality analysis by referring to the topics of concern in the Sustainable Development Reporting Stan- Regulatory Agencies Improvement of Corporate

dards (GRI Standards 2021) released by the Global Reporting Initiative the EU Corporate Sustainability Reporting Directive CSRD and the Governance Quality Management

Listed Company Sustainability Reporting Guidelines of Shanghai Stock Exchange. It systematically evaluates the Company's business PlatformBusiness Ethics Management

activities business relationships and their sustainable development context deeply analyzes the composition of stakeholders and com- Compliance Regulatory Inspection

Information Security and Legal Centerprehensively identifies and assesses the Company's actual and potential impacts in the economic environmental and social (including

Privacy Protection

human rights) fields. The specific process is as follows: Finance Center

Internal Audit Human ResourcesAdministration Center

Topic Collection and Identification

Environmental Management System

The Company identifies ESG material topics through a systematic process. Firstly it thoroughly sorts out and confirms stakeholders

Addressing Climate Change

closely related to the Company's business including shareholders and investors employees customers suppliers and partners SSE e-Interaction

government and regulatory bodies and the surrounding community and public to ensure the comprehensiveness and representa- Green Operation Management Tel

tiveness of topic identification. Ultimately 24 issues were identified as the scope of material topics disclosed in this year's report. Occupational Health and Safety

E-mail Board Secretary Office

Investors Customer Service and Support Performance Briefing

Information Security and Privacy

Impact Identification and Analysis Protection On-site Communication

The Company conducts a classification evaluation of the identified issues performing a scientific analysis from the topic impact R&D and Innovation

importance dimension. Through a questionnaire survey we extensively collect stakeholders' evaluation opinions on the topic impact

Sales Management

degree and occurrence probability and perform quantitative scoring. A total of 448 valid questionnaires were collected this year Addressing Climate Change Satisfaction survey Department

providing reliable data support for issue evaluation. Green Value Chain

Sales Management

Green Operation Management Customer return visit Department

Customers Regional MarketingBusiness Ethics Management Daily communication Department

Importance Evaluation

Biodiversity conservation High-level exchange visits and Regional Marketing

meetings Department

Based on the results of quantitative evaluation the Company analyzes from the topic impact importance dimension and ranks each

issue into three levels of importance: high medium low. After internal multiple rounds of discussion and referencing external expert Sign an agreement or contract

opinions the highly important issues in 2024 were ultimately identified as: climate change response occupational health and Green Value Chain

safety talent introduction and development human rights protection improving corporate governance.Green Operation Management Quarterly Assessment Procurement Center

Suppliers and Sustainable Supply Chain Annual Evaluation Quality Management

Business Partners

Quality management Regular visits

Platform

Review and Approval Mechanism

Information Security and On-site audit

The Company has established a regular evaluation and dynamic update mechanism for ESG material topics and we have set up an Privacy Protection High-level exchange visits

annual review mechanism to timely track topic management effectiveness and continuously optimize management strategy.External StakeholdersCORPORATE GOVERNANCE 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 89 90

Stakeholder Docking Docking

Category Stakeholders Concerned Topics Communication Channel

Stakeholder

Department Category Stakeholders Concerned Topics Communication Channel Department

Water Resources Management Addressing Climate Change

Green Value Chain Water Resources Management

Biodiversity conservation Green Value Chain

Human Rights Protection Financial Report Finance DepartmentHuman Rights Protection

Diversity and Inclusion Daily communication Manpower Audit Report Board Secretary Office

Community Residents Administration Center Sustainable Supply Chain

Public Welfare

Public Welfare and Public Welfare

Charity Organizations Promote industry development

Compliance Management Promote industry developmentDirectors

Business Ethics Management Supervisors Improvement of Corporate

Governance

R&D and Innovation and Executives

Economic Benefits

Meeting Resolutions

Addressing Climate Change Board Secretary OfficeCompliance Management and Records

Water Resources Management Internal Audit

Green Value Chain

R&D and Innovation

Green Operation Management

Employee Communication

Biodiversity conservation

Quality management

Customer Service and Support

Sustainable Supply Chain

Media/Public Daily communication Strategic Planning

Public Welfare Marketing Department

Exchange Visits Workers' Congress Trade Union

Promote industry development Addressing Climate Change

Compliance Management Board Secretary Office Green Operation Management

Business Ethics Management

Human Rights Protection

Information Security and Privacy Rationalization Proposal Operation Center

Protection Diversity and Inclusion

Compensation and Benefits

Internal Audit

R&D and Innovation Talent Introduction and

Development

Quality management

Occupational Health and Safety

Strategic Planning General Employees Sustainable Supply Chain

Marketing Department

Addressing Climate Change Exchange Visits Public Welfare

Green Value Chain Board Secretary Office Promote industry development Sign a labor contract

Green Operation Management Research and Improvement of Corporate

Development Center Satisfaction survey ManpowerHuman Rights Protection Governance

Administration Center

Diversity and Inclusion Online Feedback Hotline

Meeting Participation Quality Management Economic Benefits

Public Welfare Center Information Exchange Platform

Industry associations Promote industry development Compliance Management

Economic Benefits Board Secretary Office Business Ethics Management

Compliance Management Information Security and

Information Security and Privacy Privacy Protection

Protection

Research and

Standard Drafting

R&D and Innovation Development Center

Employee Communication

Quality management

Internal Stakeholder

External StakeholdersCORPORATE GOVERNANCE 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 91 92

SUMMARY ANALYSIS OF MATERIAL TOPICS ECONOMIC BENEFITS

During the evaluation process of material topics the Company has established a scientific and comprehensive evalua-

tion system starting from topic impact importance dimension evaluation. To ensure the objectivity and representativeness of

the evaluation results the Company systematically collected professional evaluation opinions on the topic impact degree During the reporting period the Company continued to deepen its market layout successfully expanded into multi-

from various stakeholders through a standardized questionnaire survey method and used the Likert five-point scale for ple emerging markets and established solid cooperative relationships with numerous quality clients driving steady

quantitative scoring. In this annual evaluation a total of 448 valid questionnaires were collected covering core stakeholder growth in product sales and further enhancing market competitiveness. In terms of R&D innovation the Company has

groups such as investors customers employees suppliers and community representatives providing sufficient data support been continuously increasing its investment in technology optimizing product structure and launching more competi-

and empirical basis for topic importance evaluation. Based on the quantitative analysis results the Company used the matrix tive high value-added products to meet the increasingly diverse market demands. Meanwhile the Company has been

analysis method to scientifically classify the identified topics providing a decision basis for subsequent strategic planning actively optimizing its internal management improving operational efficiency and promoting the deep application of

and sustainable development management. the refined management model to ensure the stable operation of overall business. Despite challenges in the external

Market Environment the Company has still maintained a stable operational foundation and continuously optimized

business strategy laying a solid foundation for future sustainable growth.Guangdong Greenway 2024 ESG Topic Importance Matrix

Moderately important topics Highly important topics

1 Addressing [Key Performance: Situation of Economic Benefits]Climate Change

2 OccupationalHealth and Safety

6 Green Operation Management

11 Talent Introduction AndCompliance Management 3 Development Total assets Operating revenue Tax amount

4 Human Rights Protection7 Green Value Chain

12 Sustainable Supply Chain 5 Improvement Of Corporate Governance

17 Quality Management Business Ethics 8 Diversity And Inclusion

26.92CNY 100 million 18.44CNY 100 million 2074.64CNY 10000

13 Management 9 Compensation And Benefits

14 R&d And Innovation

18 Information Security And

10 Economic Benefits

Privacy Protection 15 Promote Industry Development

Net profit attributable to Basic earnings per share R&D investment

19 Employee Communication shareholders of listed company

16 Internal Audit

22 Environmental Management System 20Water Resources Management -0.97CNY 100 million -0.97RMB/share 1.34CNY 100 million

23 Public Welfare 21 Customer Service And Support

24Biodiversity Conservation

Lowly important topics Safety investment Environmental protection Investment in employee traininginvestment

Impact on finance 1246.86CNY 10000 676.10CNY 10000 82.63CNY 10000

Environment Society Governance

Human Rights Protection Customer Service and Improvement of Corporate

Environmental Management System Support Governance

Diversity and Inclusion Note: The above data is referred to the Company's annual report

Addressing Climate Change Economic Benefits

Compensation and Benefits Quality management

Water Resources Management Compliance Management

Talent Introduction and Sustainable Supply Chain

Green Value Chain Development Public Welfare Business Ethics Management

Green Operation Management Employee Communication Promote Industry Information Security and

Privacy Protection

Biodiversity Conservation Occupational Health and Safety Development

R&D and Innovation Internal Audit

Impact on nature and society93 94

COMPLIANCE MANAGEMENT RISK MANAGEMENT

The Company places a high emphasis on risk management within governance formulating the Internal and External Environment and

Stakeholder Requirements Identification and Risk Management Procedures establishing a comprehensive risk assessment system to fully iden-

Compliance management is the cornerstone of stable enterprise operations. It ensures that the Company remains lawful tify and analyze internal and external environmental factors including political factors economic factors social factors technological factors

and compliant in an increasingly complex laws and regulations environment reducing legal and operational risk and main- and regulatory factors. By formulating a scientific risk and opportunity analysis developing response strategies strengthening internal control

taining corporate reputation. and enhancing risk warning capability the Company ensures stable operations in a complex market environment achieving sustainable devel-

opment. In terms of risk assessment management the Company always adheres to the principles of pre-event in-event and post-event man-

INFORMATION DISCLOSURE agement to ensure that it can effectively respond to various risks in operational links such as cargo timeliness cargo quality cost control and

safety assurance. The specific measures include:

The Company strictly follows the regulatory rules for listed companies on the STAR Market establishing a multi-level dis-

closure mechanism: regularly releasing financial report annual reports and ESG special reports including the disclosure of

carbon emissions product safety and other social responsibility performance. Pre-event Prevention: In-event Monitoring: Post-event Summary:

Through comprehensive risk identi- During the operation process key C o n d u c t i n - d e p t h a n a l y s i s o f

fication and assessment emergency links are monitored in real time to occurred risk events to summarize

[Key Performance: Situation of Information Disclosure] response plans are formulated in promptly identify and address risks lessons learned optimize the risk

advance to ensure that potential ensuring the stability of the opera- management process and prevent

risks are effectively prevented. tional process. similar issues from recurring.The number of announcements and related documents disclosed by the Company in 2024

90 Through the above measures the Company relentlessly enhances its risk management level ensuring competitiveness in a complex and copies

volatile market environment laying a solid foundation for achieving long-term sustainable development.Note: The above data includes Greenway and K-tech.BUSINESS ETHICS MANAGEMENT

TAX MANAGEMENT

In its daily operations the Company strictly adheres to national and local tax laws and regulations ensuring the legality The Company has established the Code of Business Conduct to clearly regulate the business conduct of employees and partners ensur-

and compliance of tax declaration payment and other processes. In the future the Enterprise plans to systematically estab- ing all business dealings comply with the ethical standards of integrity and fairness. The Company upholds high standards of business ethics

lish and improve the tax management policy and system clarify tax management objectives principles and processes advocating integrity management and transparent management ensuring all business decisions and operational activities comply with ethical

strengthen the tax risk prevention and control mechanism and enhance the standardization and efficiency of tax manage- standards maintaining market fairness and fulfilling social responsibility.ment. Meanwhile the enterprise will strengthen internal tax training to ensure that relevant personnel can promptly grasp

the latest tax policy optimizing tax planning and achieving a balance between tax compliance and cost optimization pro- ANTI-CORRUPTION

viding strong support for the enterprise's sustainable development.The Company consistently adheres to the principle of anti-bribery strictly implementing anti-corruption management measures. It firmly

eliminates any form of corrupt behavior including embezzlement misappropriation of public funds misappropriation of duties and abuse of

[Key Performance: Situation of Tax Management]

power and so on. For any employees found to be involved in corrupt behavior the Company in accordance with legal and regulatory require-

ments as well as the Company's Employee Handbook and other regulations maintains a "Zero Tolerance" attitude and handles the matter seri-

ously. The measures include but are not limited to: administrative sanctions such as warnings demerits recorded in the personal file demo-

Company Tax Evasion and Tax Company Tax Evasion and Tax

Avoidance Incidents tions and removal from office; termination of the labor contract; recovery of illegal gains; and when necessary transfer to the judicial authori-Greenway 0 K-tech

Avoidance Incidents

0 ties for criminal liability in accordance with the law. Meanwhile the Company uses typical case notification and warning education to deter and Number of cases Number of cases strengthen all employees' awareness of compliance. The Company will continue to improve the long-term anti-corruption mechanism deepen

integrity risk prevention and control strengthen supervision and management in key areas and critical links create a clean and upright busi-

ness environment and provide strong support for the healthy and sustainable development of the enterprise. We welcome supervision of all

employees and all sectors of society to jointly maintain the clean operation and good image of the enterprise.CORPORATE GOVERNANCE 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 95 96

FAIR COMPETITION Externally

The Company promises to strictly adhering to the principles of fair competition and will not engage in any unfair compe- While implementing integrity building internally the Company also attaches great importance to the cooperation norms with sup-

tition behaviors such as commercial defamation malicious price competition theft of trade secrets or market manipulation pliers and business partners. During the reporting period Greenway signed the Integrity Agreement with 94.64% of its suppliers and

to ensure a fair and orderly market environment. All employees must follow legal and fair competition methods and must not K-tech signed the Integrity Agreement with 92.31% of its suppliers. This agreement clearly defines the integrity obligations of both par-

use false information misleading statements or exaggerated publicity to attack competitors. It is prohibited to disclose or ties in business dealings particularly in key areas such as procurement and sales strengthening behavior norms in anti-corruption and

illegally obtain the trade secrets or business strategies of competitors. Greenway strictly protects its own intellectual property anti-bribery. Through this measure Greenway ensures that all parties in the supply chain adhere to unified integrity standards prevent-

and respects the legal rights of competitors prohibiting the infringement of their patents trademarks or copyrights. In the ing any improper transactions and transfer of benefits from the source enhancing the overall transparency and fairness of the supply

process of market promotion and product publicity the Company ensures that all publicity content is true accurate and chain.legal eliminating false publicity and concealing product risks. In the process of market competition such as bidding and pro-

curement the Company prohibits collusion bid rigging or other behaviors that affect market fairness. Meanwhile an internal

control evaluation report is prepared and a third party is commissioned to issue an internal control audit report. For any em-

ployee who violates fair competition regulations the Company will issue warnings demotions or dismissals as appropriate. In MANAGEMENT OF REPORTING AND COMPLAINT

severe cases they will be handed over to judicial authorities. If business partners are involved in unfair competition the Com-

pany will terminate the cooperation and pursue legal liability in accordance with the law. The Company will continue to The Company is committed to establishing a fair just and transparent work

strengthen fair competition compliance training internal supervision and accountability mechanisms to ensure that all em- environment. During the reporting period the Company released the Announcement

ployees and business partners jointly maintain a fair just and transparent business environment. on Collecting Clues of Unhealthy Trends and Corruption Issues to encourage all em- Reporting Email: jubao@greenway-battery.com

ployees suppliers customers and other stakeholders to report and complain about Reporting Phone Number: 17727712345

INTEGRITY BUILDING behaviors that violate company policy laws and regulations and ethical standards.The scope of complaints and reports of the Company covers internal and exter- Reporting Address: Company Audit Department

nal illegal and improper behaviors: including embezzlement and bribery by employ- Reporting WeChat: 11th Floor Audit Department

ees or related parties false reimbursement misappropriation of duties leakage of

Internally of Greenway Headquarterstrade secrets and other fraudulent behavior damaging the Company's interests;

bribery and bid rigging theft and infringement and violations of integrity coopera-

The Company always adheres to the principle of integrity as the foundation and promotes the sustain- tion by external units as well as employee inaction abuse of power dereliction of

able development of the company and the supply chain. The Company is well aware that integrity in opera- duty and other conduct issues specifically involving soliciting benefits false trans-

tions is not only a reflection of corporate social responsibility but also the foundation for the Company's

actions illegal related relationships and neglect of duty.long-term and stable development. During the reporting period the Company organized integrity and

compliance training and accounts receivable management training to help employees fully understand the The reporting mechanism of the Company advocates real-name reporting and

Company's expectations for integrity behavior and strengthened moral judgment in practical operations gives priority to such reports. Reports must provide information of involved person-

through case analysis and scenario simulation. nel event details and evidence materials to ensure the content is true and objective

prohibiting false accusations and fabrications. It promises to strictly keep the report-

[Case: The Company Held Integrity and Compliant Training and Accounts Receivable er's information confidential and prohibits retaliation with severe punishment for

Management Training in 2024] violators. Effective reports may be rewarded based on the situation and partners

In 2024 the Company organized integrity and compliance training and accounts receivable manage- who proactively report are granted immunity and cooperation assurance. Those who

ment training aiming to enhance employees' compliance awareness and financial management ability. The voluntarily confess to violations may be exempted from liability.training content covered the requirements for honest employment legal compliance regulations credit

management and account receivable recovery strategies etc. It helped employees improve their business [Key Performance: Situation of Business Ethics Management]

compliance and risk prevention and control capabilities providing support for the stable operation of the

Company. Performance Indicators Unit Greenway K-tech

Company Corruption Incidents / 0 0

Conflict of Interest Incidents / 0 0

Fraud Incidents / 0 0

Money Laundering Incidents / 0 0

Company Malicious Competition Incidents / 0 0

Number of Anti-corruption Themed Training Sessions Conducted Sessions 1 0

Percentage of Suppliers Signing the Integrity Agreement % 94.64 92.31CORPORATE GOVERNANCE 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 97 98

INFORMATION SECURITY AND PRIVACY PROTECTION

The Company is well aware of the importance of personal information security and integrates it into every aspect of prod-

PRIVACY PROTECTION uct research and development operations management and customer service. The Company strictly complies with the Personal

Information Protection Law and other relevant laws and regulations clearly defining management responsibilities at all levels.We adhere to the principle of "Minimum Necessary" collecting and using personal information only within the necessary scope

and implementing strict technical and organizational measures to ensure data security. Meanwhile we continuously optimize

privacy protection mechanisms respecting users' rights to access correct and delete personal information ensuring that user

In the digital wave the Company regards compliance operation information is properly protected.as a core task strictly adhering to the Personal Information Protection

Law of the People's Republic of China Data Security Law of the Peo- [Key Performance: Situation of Privacy Protection]

ple's Republic of China Cybersecurity Law of the People's Republic of

China and other laws and regulations relentlessly strengthening data Customer Privacy Infringement Incidents Third-party Data Loss Incidents

compliance management and fully ensuring information security.Meanwhile Greenway always considers user privacy and personal 0 0

information protection as the cornerstone of enterprise development

and is committed to building a comprehensive management system to

effectively fulfill personal information protection responsibilities. Note: The above data includes Greenway and K-tech.INTERNAL AUDIT

INFORMATION SECURITY

The Company places great emphasis on internal audit management establishing a systematic and standardized internal audit

The Company places great emphasis on the protection of information security and has meticulously constructed a com-

system through the Internal Audit System which clarifies the scope procedures and responsibilities of internal audits ensuring that

prehensive information security management system. To effectively protect the sensitive data and information assets of the

all audit activities are conducted in accordance with laws and regulations and promoting efficient and healthy development of the

Company and its customers a series of targeted regulations have been promulgated such as the IT Equipment Management

enterprise. The Company's Internal Audit Department is independent of the Business Department and Finance Management Depart-

Regulations and Network Security Management Regulations. These regulations work in coordination to establish a compre-

ments and reports directly to the Audit Committee of the Board of Directors ensuring the independence fairness and authority of

hensive information security management system covering multiple key areas.audit work. The main objectives of internal audit include identifying and assessing operational and financial risks supervising the

implementation of internal control systems reviewing the authenticity and completeness of the financial report of the Company and

In terms of IT equipment management the Company implements full-process control from procurement to disposal. During pro- providing suggestions for improving management and control processes.curement suppliers are strictly selected and the security performance of the equipment is inspected. During use regular patrol Internal audit work is conducted in accordance with the established procedures including formulating an audit plan notifying

inspections and maintenance are conducted. During disposal standard processes are followed to prevent information leakage.the audited entity in advance collecting audit evidence preparing audit working papers forming an audit report and soliciting opin-

ions from the audited entity. The handling of major issues requires the approval from the Board of Directors. If significant risks or

In terms of network protection firewalls and data encryption technologies are actively applied. Firewalls block external illegal internal control deficiencies are found the Audit Department should promptly report to the Board of Directors and assist in formulat-

intrusions and data encryption ensures the safety of data transmission and storage fortifying the network security defense line. ing improvement plans.The Company encourages the Internal Audit Department to [Key Performance: Situation of Internal Audit]

A responsibility mechanism for information security involving all employees is established clarifying employees' responsibilities. enhance the level of operation and management through audit

Through training and publicity employees' security awareness is enhanced creating a positive atmosphere of collaborative pro-

tection among all employees. work and rewards or commends auditors who identify significant Number of Internal Audits

risks recover economic losses or propose effective improvement

Formulate the company's confidentiality system for critical information assets and the supporting R&D data security system to suggestions. Meanwhile the Company imposes criticism admin-

ensure the data security and compliance of software development achievements. istrative sanctions economic compensation or even transfers to 7

judicial authorities on individuals or departments that violate

In addition the Company is equipped with the Information Security Emergency Response Plan. Once a sudden security incident audit regulations obstruct audit work provide false information Note: The above data includes Greenway and K-tech.occurs it can respond quickly efficiently handle according to the plan minimize risks and comprehensively prevent information or engage in other improper behaviors depending on the severi-

security hazards safeguarding the Company's information security. ty to maintain the seriousness and authority of audit work.SUSTAINABLE DEVELOPMENT PERFORMANCE TABLE 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 99 100

SUSTAINABLE DEVELOPMENT PERFORMANCE TABLE

ECONOMIC PERFORMANCE

WATER RESOURCE MANAGEMENT

Performance Indicators Unit Company

Performance Indicators Unit Greenway K-tech

Total assets CNY100 million 26.92

Water withdrawal t 108520 121663

Operating revenue CNY100 million 18.44

Tax amount CNY10000 2074.64

Net profit attributable to shareholders of listed company CNY100 million -0.97

Basic earnings per share RMB/share -0.97

GREENHOUSE GAS EMISSIONS

R&D investment CNY10000 1.34

Safety investment CNY10000 1246.86 Performance Indicators Unit Greenway K-tech

Environmental protection investment CNY10000 676.10 Total greenhouse gas emissions tCO2e / 14227.71

Investment in employee training CNY10000 82.63 Scope 1 total greenhouse gas emissions tCO2e / 3684.43

Note: The above data is referred to the Company's annual report Scope 2 total greenhouse gas emissions tCO2e / 10543.28

ENVIRONMENTAL PERFORMANCE USE OF RECYCLED PACKAGING MATERIALS

Performance Indicators Unit Greenway K-tech

Weight of FSC Recycled Packaging Materials Used t 7.54 /

ENVIRONMENTAL INVESTMENT

Performance Indicators Unit Greenway K-tech

Total Environmental Protection Investment in 2024 CNY 10000 50.09 626.01 EMISSIONS AND WASTE

Performance Indicators Unit Greenway K-tech

ENERGY USAGE Exhaust gas emission data

Performance Indicators Unit Greenway K-tech Nitrogen Oxides (NOx) kg / 757

Purchased Power kWh 13994270 21959520 Sulfur dioxide kg / 27.60

Purchased Renewable Electricity kWh / 6736000 Wastewater discharge data

Total amount of purchased steam t / 16637 Scattered industrial wastewater t / 495

Gasoline consumption L 9497 3174.85 Solid Waste Disposal Data

Diesel consumption L / 6604.80 Disposal amount of general industrial solid waste t 12.15 132.837

Natural gas consumption m3 / 1048628 Disposal amount of hazardous waste t 7.468 1.756SUSTAINABLE DEVELOPMENT PERFORMANCE TABLE 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 101 102

SOCIAL PERFORMANCE

TALENT INTRODUCTION

DIVERSITY AND INCLUSION Performance Indicators Unit Greenway K-tech

Employee entry rate: % 6.18 6.15

Performance Indicators Unit Greenway K-tech

Male employee entry rate: % 7.03 7.09

Divided by gender: / / /

Female employee entry rate: % 4.90 3.90

Total Number of Employees Person 1826 399

Frontline employee entry Rate: % 8.91 7.81

Total Number of Full-time Employees Person 1826 399

Non-frontline employee entry rate: % 2.16 2.01

Total Number of Part-time Employees Person 0 0

Employee turnover rate: % 5.16 5.08

Part-time Male Employees Person 0 0

Male employee turnover rate: % 5.72 5.42

Part-time Female Employees Person 0 0

Female employee turnover rate: % 4.32 4.19

Total Gender Distribution of Employees / / /

Front-line employee turnover rate: % 7.21 6.52

Male Person 1124 287

Non-frontline employee turnover rate: % 2.21 1.34

Female Person 702 112

Male Proportion % 61.56 71.93

Female Proportion % 38.44 28.07 EMPLOYEE TRAINING

Divided by age: / / /

Performance Indicators Unit Greenway K-tech

Number of Employees Aged 16-18 Person 0 0

Skill training coverage % 100 100

Number of Employees Aged 19-30 Person 736 169

Total number of people trained Persons 1826 399

Number of Employees Aged 31-40 Person 789 145

Total duration of training (h) h 54342.50 13787.50

Number of Employees Aged Over 41 Person 301 85

Training hours per employee h 29.76 34.56

Divided by education level: / / /

Below Bachelor's degree Person 1437 353

Bachelor degree or above Person 389 46

Divided by position: / / /

Total Number of Senior Manager / 16 2 CAREER DEVELOPMENT

Number of Male Senior Manager Person 13 2

Performance Indicators Unit Greenway K-tech

Number of Female Senior Manager Person 3 0

Define career development paths for each employee % 100 100

Proportion of Male Senior Manager % 81.25 100

Performance Appraisal Coverage Rate % 90 90

Proportion of Female Senior Manager % 18.75 0

Number of Employees Meeting Career Development Plans Person 1826 399

Number of Ethnic Minority Employees Person 292 86

Number of Promotions Person 255 6

Proportion of Minority Employees % 15.99 21.55

Number of Demotions Person 21 0

Total Number of Minority Executives Person 1 0

Number of Layoffs Person 0 0

Proportion of Minority Executives % 6.25 0

Note: Executives refer to management personnel at the director level and above.SUSTAINABLE DEVELOPMENT PERFORMANCE TABLE 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 103 104

SALARY MANAGEMENT SUPPLY CHAIN MANAGEMENT

Performance Indicators Unit Greenway K-tech Performance Indicators Unit Greenway K-tech

The median of the annual total compensation of all

employees(excluding the individual with the highest income) CNY10000 10.98 9.10 Total number of raw material suppliers / 448 76

The average annual compensation of male employees CNY10000 15.17 11.60 By region

The average annual compensation of female employees CNY10000 13.12 8.74 China (including Hong Kong Macau Taiwan) / 444 76

Overseas / 4 0

Supplier written survey

EMPLOYEE HEALTH AND SAFETY Supplier written survey coverage rate % ≥90 ≥90

Responsible mineral management

Performance Indicators Unit Greenway K-tech

Risk assessment / Assessed once a year/ Assessed once a year/ Proportion of suppliers signing the Conflict-Freeassessed upon changes assessed upon changes Metals Policy and Commitment among % 47.22 72.73

Internal health and safety inspection / Daily safety patrol inspections Daily safety patrol inspections mineral-related suppliersmonthly comprehensive inspections monthly comprehensive inspections

Number of Trained Personnel at Each Location h 1826 399

Emergency drill times Times 13 13

Frequency of emergency drills time(s)/year Fire incidents: 2 times/year Fire incidents: 2 times/year

Number of incidents of being punished for violating

occupational health and safety laws and regulations / 0 0

Coverage rate of occupational disease inspections % 100 100

Number of employees suffering from occupational disease Person 0 0

Number of Minor Work-related Injury Incidents / 1 1

Number of Serious Work-related Injury Incidents / 0 0

Number of Employees Died Due to Work-related Injuries Person 0 0

Number of Working Days Lost Due to Work-related Injuries Day 7.35 5

Loss Rate per Million Working Hours / 0.23 1.06

Serious Accident Rate of Lost Working Hours per

Thousand People / 0.002 0.005

Mental health incidents / 0 0

Coverage rate of employees receiving training related to

occupational health and safety % 100 100

Note:

(1) Greenway's total work hours in 2024 are 4354097 and K-tech's total work hours in 2024 are 947625;

(2) Loss rate per million working hours = (total number of work-related injury incidents causing lost working hours) x (1000000/total working hours);

(3) Serious accident rate of lost working hours per thousand people = (days lost due to injury) x (1000/total working hours).INDICATOR INDEX 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 105 106

INDICATOR INDEX Disclosures Page Number

Material Topics

Index of Global Reporting Initiative (GRI Standards 2021)

3-1 Process to determine material topics P87

GRI 3: Material Topics 2021

Instructions Greenway reported the information referenced in this GRI Index during the period 3-2 List of material topics P91

for Use from January 1 2024 to December 31 2024 in accordance with GRI standards.Economic performance

GRI 1 used GRI 1: Foundation 2021 GRI 3: Material Topics 2021 3-3 Management of material topics P91

GRI 201: Economic Performance 2016 201-1 Direct economic value generated and distributed P92

Disclosures Page Number Market performance

2-1 Organizational details P1-P2 GRI 3: Material Topics 2021 3-3 Management of material topics P39-P40

2-2 Entities included in the organization's sustainability

reporting P2 GRI 202: Market Performance 2016 202-1 Ratio of standard entry level wage by gender compared to local minimum wage P39GRI 2: General Disclosures 2021

2-3 Reporting period frequency and contact person P1-P2 Procurement Practices

2-4 Restatements of information P2 GRI 3: Material Topics 2021 3-3 Management of material topics P74P91

2-5 External assurance P2 GRI 204: Procurement Practices 2016 204-1 Proportion of spending on local suppliers P74

2-6 Activities value chain and other business relationships P53-P80 Anti-corruption

2-7 Employees P37-P38P101 GRI 3: Material Topics 2021 3-3 Management of material topics P91P94-P96

2-9 Governance structure and composition P83 205-1 Operations assessed for risks of corruption P94-P96

2-10 Nomination and selection of the highest governance P83-P86 GRI 205: Anti-corruption 2016 body 205-2 Communication and training about anti-corruption policies and procedures P94-P96

2-11 Chair of the highest governance body P83-P86 Anti-competitive Behavior

2-12 Role of the highest governance body in overseeing

the management of impacts P85-P86 GRI 3: Material Topics 2021 3-3 Management of material topics P91P95

2-13 Delegation of responsibility for managing impacts P85-P86 GRI 206: Anti-competitive Behavior 206-1 Legal actions for anti-competitive behavior anti-

2016 trustand monopoly practices P95

2-14 Role of the highest governance body in sustainability

reporting P85-P86 Tax

2-16 Communication of critical concerns P88-P90 GRI 3: Material Topics 2021 3-3 Management of material topics P91P93

2-19 Remuneration policies P39 207-1 Approach to tax P93

2-20 Process to determine remuneration P39 GRI 207: Tax 2019 207-2 Tax governance control and risk management P93

2-21 Annual total compensation ratio P39 207-3 Stakeholder engagement and management of

concerns related to tax P93

2-22 Statement on sustainable development strategy P3-P4 Materials

2-23 Policy commitments P87P94- P95P103 GRI 3: Material Topics 2021 3-3 Management of material topics P28P91P100

2-24 Embedding policy commitments P87 GRI 301: Materials 2016 301-3 Reclaimed products and their packaging materials P28P100

2-27 Compliance with laws and regulations ALL Energy

2-28 Membership of associations P11 GRI 3: Material Topics 2021 3-3 Management of material topics P22-P24P91P99

2-29 Approach to stakeholder engagement P88-P90 GRI 302: Energy 2016 302-1 Energy consumption within the organization P22-P24P99

2-30 Collective bargaining agreements P36INDICATOR INDEX 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 107 108

Disclosures Page Number Disclosures Page Number

Water and Effluents Occupational Health and Safety

GRI 3: Material Topics 2021 3-3 Management of material topics P25-P26P91P100 GRI 3: Material Topics 2021 3-3 Management of material topics P16P49-P52P91P103

303-1 Interactions with water as a shared resource P25-P26 403-1 Occupational health and safety management system P49

GRI 303 Water and Effluents 2018 303-2 Management of water discharge-related impacts P25-P26 403-2 Hazard identification risk assessment and incident investigation P49P51-P52

303-3 Water withdrawal P25P100 403-3 Occupational health services P51

Biodiversity 403-4 Worker participation consultation and communication on occupational health and safety P50

GRI 3: Material Topics 2021 3-3 Management of material topics P32P91

GRI 403: Occupational Health and 403-5 Worker training on occupational health and safety P50-P52P103

Emissions Safety 2018 403-6 Promotion of worker health P50-P52

GRI 3: Material Topics 2021 3-3 Management of material topics P21P30P91P100 403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships P51-P52

305-1 Direct (Scope 1) GHG emissions P21P100 403-8 Workers covered by an occupational health and safety management system P49

GRI 305: Emissions 2016 305-2 Energy indirect (Scope 2) GHG emissions P21P100 403-9 Work-related injuries P52

305-7 Nitrogen oxides (NOx) sulfur oxides (SOx) and

other significant air emissions P30P100 403-10 Work-related health issue P16P52

Waste Training and Education

GRI 3: Material Topics 2021 3-3 Management of material topics P29-P30P91P100 GRI 3: Material Topics 2021 3-3 Management of material topics P42-P48P91P102

306-1 Waste generation and significant waste-related

impacts P29-P30P100 404-1 Average hours of training per year per employee P46P102

306-2 Management of significant waste-related impacts P29-P30P100 GRI 404: Training and Education 2016 404-2 Programs for upgrading employee skills and transition assistance programs P44-P48

GRI 306: Waste 2020 306-3 Waste generated P29-P30P100 404-3 Percentage of employees receiving regular performance and career development reviews P47-P48P102

306-4 Waste diverted from disposal P29-P30P100 Diversity and Equal Opportunity

306-5 Waste directed to disposal P29-P30P100 GRI 3: Material Topics 2021 3-3 Management of material topics P35-P41P91

P101-P103

Supplier Environmental Assessment

GRI 405: Diversity and Equal 405-1 Diversity of governance bodies and employees P37-P38P101

GRI 3: Material Topics 2021 3-3 Management of material topics P73P91 Opportunity 2016 405-2 Ratio of basic salary and remuneration of women to men P39P103

Employment Non-discrimination

GRI 3: Material Topics 2021 3-3 Management of material topics P37-P48P91P102 GRI 3: Material Topics 2021 3-3 Management of material topics P15P35-P36P91

GRI 401 Employment 2016 401-2 Benefits provided to full-time employees that are P39-P41 GRI 406: Non-discrimination 2016 406-1 Incidents of discrimination and corrective actions not provided to temporary or part-time employees taken P36

Freedom of Association and Collective Bargaining

GRI 3: Material Topics 2021 3-3 Management of material topics P16P35-P36P91

Child Labor

GRI 3: Material Topics 2021 3-3 Management of material topics P15P35-P36P91

GRI 408: Child Labor 2016 408-1 Operations and suppliers at significant risk for incidents of child labor P35-P36INDICATOR INDEX 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 109 110

Disclosures Page Number GLOSSARY OF PROPER NOUNS

Compulsory Labor

GRI 3: Material Topics 2021 3-3 Management of material topics P15P35-P36P91 Section Proper Nouns Definition

GRI 409: Forced or Compulsory Labor 409-1 Operations and suppliers at significant risk for

2016 incidents of forced or compulsory labor P35-P36 3 About Greenway

Security Practices Original Design Manufacturer refers to a commissioned manufacturer designing

ODM and producing products according to the specifications and requirements of

GRI 3: Material Topics 2021 3-3 Management of material topics P35-P36P91 another company.GRI 410 Security Practices 2016 410-1 Security personnel trained in human rights policies P36 Original Equipment Manufacturer refers to a commissioned manufacturer or procedures

OEM producing according to the needs and authorization of the sample company

Local Community following specific conditions set by the manufacturer with all design drawings and processes strictly adhering to the sample company's design.GRI 3: Material Topics 2021 3-3 Management of material topics P79-P80P91 Battery Management System is a system used for the intelligent management

413-1 Operations with local community engagement BMS and maintenance of battery cells. Its main functions include monitoring battery GRI 413: Local Communities 2016 impact assessments and development programs P79-P80 status preventing overcharging and over-discharging and extending battery life.3.1 Company Profile

Customer Health and Safety ISO International Organization for Standardization

GRI 3: Material Topics 2021 3-3 Management of material topics P69P91 European Conformity is a mandatory mark required by the European Union (EU)

GRI 416 Customer Health and Safety 416-1 Assessment of the health and safety impacts of CE to demonstrate that a product meets the requirements of EU regulations and

2016 product and service categories P69 standards and is one of the basic requirements for access to the European market.

Marketing and Labeling

Federal Communications Commission (FCC)

GRI 3: Material Topics 2021 3-3 Management of material topics P69P91 FCC Federal Communications Commission Certification is a mandatory entry system established by the Federal Communications Commission for electronic and

GRI 417: Marketing and Labeling 2016 417-1 Requirements for product and service information and labeling P69

electrical products.

4 Environment

Customer Privacy

4.4 Green Value Chain NMP N-Methyl-2-pyrrolidone

GRI 3: Material Topics 2021 3-3 Management of material topics P91P97-P98

GRI 418: Customer Privacy 2016 418-1 Substantiated complaints concerning breaches of

5 Human Rights

customer privacy and loss of customer data P97-P98

Likelihood-Exposure-Consequence Method (LEC Risk Assessment Method also

known as the "Graham Method") is a semi-quantitative risk assessment method;

L: Likelihood refers to the probability of an accident occurring;

E: Exposure refers to the frequency of personnel exposure to hazardous

LEC Scoring environments;

5.6 Occupational Health Method C: Consequence refers to the consequences of an accident occurring.

and Safety The product of these three factors gives the risk value of the hazard sources

thereby determining the risk level D (degree of risk calculation formula: D = L × E

× C). The higher the D value the higher the risk level and control measures

should be prioritized.PPE Personal Protective Equipment

6 Society

6.2 Quality IMS Pangu Information Management System

Management MES Manufacturing Execution System

QCS Quality Control System

WMS Warehouse Management System

EAM Enterprise Asset Management

SPC Statistical Process Control (SPC) is a tool that monitors and improves the stability of the production process through statistical methods.INDICATOR INDEX 2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE (ESG) REPORT 111 112

Section Proper Nouns Definition Section Proper Nouns Definition

6 Society 6 Society

Andon System is a real-time visual management tool used in the production RMA Repair Return Material Authorization Repair

ANDON sites. It quickly conveys production status abnormal events (such as equipment failures quality issues) and operational requests through lights sounds or CIP Continual Improvement Plan

electronic boards to achieve timely response and resolution of problems. Manufacturing Execution System refers UPPH Units Per Person Per Hour

Business Intelligence refers to the interactive intelligence. By collecting to the execution

BI integrating and analyzing internal and external data of the enterprise it is

management system for PMO Project Management Office

transformed into actionable insights which helps the management make more the production process

scientific decisions optimize business processes and enhance competitiveness. of manufacturing Six Sigma Green Belt refers to professionals trained and certified in the Six Sigma

enterprises. SSGB Methodology focusing on using data analysis and process improvement tools to

Internet of Things in the industrial field. It transforms collected integrated and solve quality issues and enhance efficiency.IOT analyzed internal and external enterprise data into actionable insights helping management make more scientific decisions optimize business processes and SEIRI

enhance competitiveness. SEITON

SEISO

IPD Integrated Product Development 6S SEIKETSU

SHITSUKE

DCP Decision Check Point SECURITY

The above six items are abbreviated as 6S.Safety

SQDC Quality

The Esposizione Internazionale Ciclo Motociclo e Accessori also known as the

Delivery 6.5 Industry Milan International Motorcycle and Bicycle Exhibition is one of the largest and

Cost Development EICMA most important motorcycle exhibitions in the world. It is held annually in Milan

Promotion Italy and is organized by the Associazione Nazionale Ciclo Motociclo Accessori

Failure Analysis and Corrective Action also known as root cause analysis refers (ANCMA).FACA to the process of systematically analyzing and determining the root cause of failures in products or processes and developing corrective measures to prevent

recurrence.DQE Design Quality Engineer

APQP Advanced Product Quality Planning

Manufacturing TR Technical Review

Execution System refers

to the execution CTQ Critical to Quality

management system for

the production process DPAL Design Process Approval List

of manufacturing

enterprises. PQE Process Quality Engineer

CTP Critical to Process

PPAL Production Process Approval List

SQE Supplier Quality Engineer

IQC Incoming Quality Control

IPQC In-Process Quality Control

FQA Final Quality Assurance

Man

4M MachineMaterial

Method

CQE Customer Quality Engineer

VOC Voice of CustomerLIMITATIONS AND MITIGATION

ASSURANCE STATEMENT Data drawn directly from independently audited financial accounts has not been checked back to source as part of this assurance process.CN25/00002398 The greenhouse gas emissions related data in the Report has not undergone verification by an independent third-party auditor. In the context of the present assurance engagement our procedures were limited to sample-

based validation.SGS-CSTC’S REPORT ON SUSTAINABILITY ACTIVITIES IN THE This assurance engagement was restricted to the group level of GREENWAY including GUANGDONG GREENWAY TECHNOLOGY CO. LTD. and DONGGUAN K-TECH NEW ENERGY CO. LTD.GREENWAY

GUANGDONG GREENWAY TECHNOLOGY CO. LTD.’S ESG REPORT FOR and did not include traceability of original data from other subordinate institutions.

2024

STATEMENT OF INDEPENDENCE AND COMPETENCE The SGS Group of companies is the world leader in inspection testing and certification operating in multiple

NATURE OF THE ASSURANCE/VERIFICATION countries and providing services. SGS affirm our independence from GREENWAY being free from bias and

SGS-CSTC STANDARDS TECHNICAL SERVICES CO. LTD. (hereinafter referred to as SGS) was conflicts of interest with the organisation its subsidiaries and stakeholders.commissioned by GUANGDONG GREENWAY TECHNOLOGY CO. LTD. (hereinafter referred to as

GREENWAY) to conduct an independent assurance of the Chinese version and English version of 2024 The assurance team was assembled based on their knowledge experience and qualifications for this

ENVIRONMENTAL SOCIAL AND GOVERNANCE(ESG) REPORT (hereinafter referred to as the Report). The assignment.boundary scope of the Report of GREENWAY includes GUANGDONG GREENWAY TECHNOLOGY CO. LTD.and DONGGUAN K-TECH NEW ENERGY CO. LTD.. FINDINGS AND CONCLUSIONS

INTENDED USERS OF THIS ASSURANCE STATEMENT ASSURANCE/VERIFICATION OPINION

This Assurance Statement is provided with the intention of informing all GREENWAY’s Stakeholders. On the basis of the methodology described and the assurance engagement performed the information and

data contained in the Report are accurate reliable and provide a fair and balanced representation of

RESPONSIBILITIES GREENWAY's sustainability activities for the year 2024.The information in the Report and its presentation are the responsibility of the general manager and the

management of GREENWAY. CONCLUSIONS FINDINGS AND RECOMMENDATIONS BASED ON GRI STANDARDS 2021

The assurance team concludes that the Report has referred to the requirements of GRI Standards 2021.Our responsibility is to express an opinion on the text data graphs and statements within the scope of

assurance with the intention to inform all GREENWAY’s stakeholders. FINDINGS AND RECOMMENDATIONS

All observations pertaining to commendable practices sustainable development activities and managerial

SGS hereby states that it shall not be held responsible or liable for any direct indirect incidental or recommendations identified throughout the assurance process have been thoroughly documented in the

consequential damages or losses arising from or in connection with the use of information provided in this Internal Management Report on ESG Reporting Assurance. This report has been officially presented to the

report. relevant management divisions of GREENWAY to serve as a reference for their ongoing efforts towards

continuous improvement.ASSURANCE STANDARDS TYPE AND LEVEL OF ASSURANCE

The SGS ESG & Sustainability Report Assurance (SRA) protocols used to conduct assurance are based upon

internationally recognised assurance standards including the AA1000 series of standards and ISAE3000.Signed:

The assurance of this report has been conducted according to the following Assurance Standards:

Assurance Standard Options Level of Assurance

AA1000AS v3 Type 2 Moderate

For and on behalf of SGS-CSTC

SCOPE OF ASSURANCE AND REPORTING CRITERIA

The assurance engagement was conducted to evaluate the accuracy and reliability of the sustainability David Xin

performance information included in the Report. Additionally it assessed the extent to which the Report's Sr. Director – Business Assurance

content refers to the requirements of GRI Standards 2021. 16/F Century Yuhui Mansion No. 73 Fucheng Road Beijing P.R. China

ASSURANCE METHODOLOGY Apr. 15th 2025

The assurance comprised a combination of pre-assurance research on-site interviews with relevant employees WWW.SGS.COM

at the GREENWAY headquarters located at No.6 Tonghuan Road Tongsha Dongcheng Street Dongguan

City Guangdong Province P.R. China including documentation and record review and validation where

relevant; as well as conducting online reviews and confirmations of documents and records for relevant

employees at the subsidiary Dongguan K-Tech New Energy Co. Ltd. located at No. 3 Lingang Road

Wangniudun Town Dongguan City Guangdong Province P.R. China.