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Stock Code: 688400

Environmental Social and

Governance (ESG) Report

KNOWLEDGE AND REASONS ARE OUR ARMS TO EMBRACE THE WORLDKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World! Table of Introd ESG Governance Environmental

Contents uction Management Social

Social Governance Environmental

* Technology for Good

* Innovation-Driven Development Corporate Governance * Climate Change

* Product Responsibility * Shareholder Rights Protection * Pollution Emissions Supply Chain Responsibility * * * Environmental Management

* Employee Responsibility * Compliance Management * Green Factory Development

* Information Security and Privacy Protection

2024 Environmental Social and Governance (ESG) ReportKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

About This Report Data Description

This report outlines the sustainability philosophy of LUSTER LightTech Co. Ltd. The information and data used in this report are derived from original records

(hereinafter referred to as “LUSTER” “the Company” or “we”) and its subsidiaries statistical reports and financial statements generated from the Company’s actual

detailing our work plans and progress in 2024 across the dimensions of social operations. All financial figures are uniformly presented in Chinese Yuan (RMB).responsibility governance and environmental stewardship.Statement of Reliability

The Board of Directors of LUSTER assumes responsibility for the authenticity

Scope of the Report accuracy and completeness of the report’s content. This report contains no false

This report encompasses LUSTER and its subsidiaries. Financial data presented records misleading statements or material omissions.herein aligns with the consolidated financial statements for 2024 consistent with

the 2024 Annual Report. The temporal scope of the report spans from January 1

2024 to December 31 2024 in alignment with the disclosure period of the 2024 Approval Process

Annual Report.This report was reviewed and approved by the Board of Directors on April 25

Basis for Compilation 2025.This report is prepared in accordance with the Guidelines No. 14 of the Shanghai

Stock Exchange on Self-Regulation for Listed Companies — Sustainability Report

(Trial) as well as Chapter 5 on Environmental and Social Responsibility in the Report Publication

China Securities Regulatory Commission’s Guidelines on the Content and Format of

Information Disclosure for Companies Issuing Securities Publicly No. 2 — Content LUSTER’s ESG Report is released concurrently with the Annual Report. It is

and Format of Annual Reports (2021 Revision). It also draws on the GRI available in simplified Chinese and English electronic versions on the Company’s

Sustainability Reporting Standards (GRI Standards) issued by the Global official website as well as on the Shanghai Stock Exchange website

Sustainability Standards Board (GSSB) and the United Nations Sustainable (www.sse.com.cn).Development Goals (SDGs) Business Action Guidelines.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

2024 ESG Statement

LUSTER LightTech Co. Ltd. (LUSTER) leveraging thirty years of expertise in vision technology and AI algorithms centers its efforts on “Vision + AI” to

empower two key domains: industrial intelligent manufacturing and smart content creation. In industrial intelligent manufacturing LUSTER delivers highly integrated

high-precision industrial robots and machine vision products that tackle complex challenges achieving notable success in quality management. For instance our

Automation 3.0 platform achieves a 99.9% success rate in robotic arm fastening enhancing production efficiency and quality stability thereby enabling enterprises to

reduce costs and boost productivity. In the realm of smart content creation LUSTER’s wholly-owned subsidiary Yuanke Vision harnesses optical motion capture light

field modeling and virtual-real fusion technologies to provide innovative solutions for industries such as film scientific research and e-commerce. In 2024 Yuanke

Vision integrated AR and motion capture technologies in the Spring Festival Gala program Poetry of Rivers and Mountains: Chang’an promoting the innovative

dissemination of traditional culture. It also supported motion training for humanoid robots and launched an AI-powered e-commerce platform based on domestic large-

scale models enhancing interactivity in live-streaming e-commerce. Through these innovative practices LUSTER drives technological advancements fostering efficient

intelligent and culturally enriched modes of production and living embodying our mission of “technology for good.”

LUSTER is committed to fostering sustainable relationships with customers by establishing a comprehensive quality management system delivering superior

products from demand analysis to after-sales service. Through diverse communication channels and rapid feedback mechanisms we strive to be a trusted strategic partner

for our customers. In supply chain management we implement closed-loop oversight to ensure the security and reliability of core components build a green supply chain

and eliminate unethical practices. For employee development we uphold a “gain-sharing” system offering tailored training programs and fostering a positive healthy

work environment to support employees’ physical and mental well-being and career growth.LUSTER actively embraces sustainability principles and fulfills its ESG responsibilities. In addressing climate change we optimize our energy structure reduce

carbon emissions and develop contingency plans for extreme weather events. In environmental management we strictly comply with regulations establish emissions

control systems and achieved a 19% year-on-year reduction in waste generation. The Taihu Industrial Base project adheres to green ecological principles with an

anticipated green coverage rate of 12.63% per capita green space of 2.12 square meters and an energy efficiency level of 72% aiming to meet the Two-Star Green

Building Standard. LUSTER has obtained ISO 14001:2015 certification established a system for identifying and addressing environmental safety risks and conducts

regular inspections assessments and emergency drills to ensure environmental safety. Through a series of innovative measures and sustainable development strategies

LUSTER has not only achieved breakthroughs at the technological forefront but also set an industry benchmark in social responsibility and environmental stewardship.We demonstrate the responsibility and vision of a technology enterprise contributing significantly to the high-quality development of society.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

About LUSTER

Company Overview

Founded on the innovation of optical technologies LUSTER LightTech Co. Ltd.(LUSTER) operates in the fields of machine vision and fiber optics aspiring to

become a global leader in vision artificial intelligence and optoelectronic information.Committed to “implanting eyes and brains in machines” LUSTER leverages “Vision+ AI” to enable industrial intelligent manufacturing and embodied intelligent data

collection. With over two decades of technical expertise in optical imaging vision

software and algorithms and core vision components LUSTER drives continuous

product innovation striving to be the optimal strategic trusted and honorable

choice for its customers.Mission Vision Values

To implant eyes and To become a global To drive industry progress as

brains in machines enable leader in vision artificial our responsibility through

light-speed connectivity intelligence and collective perseverance. To

and create and realize optoelectronic transform knowledge into

customer dreams. information. wealth and ensure that wealth

is attributed to its true creators.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Core Business

LUSTER LightTech Co. Ltd. (LUSTER) has dedicated over twenty

years to advancing industrial vision positioning itself as a premier

Industrial provider of configurable vision systems intelligent vision equipment

Artificial and core vision components. Serving a wide array of industries within

the realm of industrial intelligence we offer diverse products and

Intelligence solutions tailored for smart manufacturing and quality inspection. CVPR 2023 ECCV 2024

T h r o u g h r e l e n t l e s s i n n o v a t i o n L U S T E R e m p o w e r s t h e Champion of the Industrial Champion of the Single-Instance Quality Inspection Challenge

transformation and evolution of industrial intelligent manufacturing. Industrial Defect Segmentation Challenge

Harnessing breakthroughs in computational imaging and artificial

intelligence LUSTER leads the charge into the era of virtual reality

and Web 3.0. We have independently developed an array of

Cultural sophisticated products and solutions—including light field modeling holographic production motion capture and virtual filming—for

Metaverse applications such as digital avatars and VR immersive media. By

seamlessly integrating digital humans objects environments and

contexts LUSTER stands as a frontrunner in China’s metaverse

ecosystem delivering cutting-edge tools and platforms for digital The State Scientific and The State Technological The State Scientific and content creation. Technological Progress Award Invention Award (First Prize) Technological Progress Award

(Second Prize) (Second Prize)

Anchored in the five key domains of fiber optic technology—scientific

communication telecommunications data communication fiber

Optical lasers and fiber sensing—LUSTER leverages world-class technical expertise to provide high-end optoelectronic components advanced

Communications equipment and precision instrumentation. Our commitment to

developing industry-leading solutions drives innovation meets the

evolving needs of domestic clients and elevates the technological and

industrial landscape of China’s optical technology sector.Designation as a “Little Giant” Enterprise with Postdoctoral Research Workstation

Specialization Refinement and InnovationKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

CoCmom赢得苹

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颜色检测分 VisionWARE algorithm 光T辰101芯 IMAC

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solutions using CCD display panel processing industry providing machine vision leveraging

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and cotton marking applications. leading clients.entry into the machine

vision sector. 智能工

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system.方案 Val模ida组ted 外lith观ium， batFterZy Msquoare/cyliVndirsiico钞厂合作 aln cGell

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设备、糊动捕体视觉检批量推 成功研制出 技术及装 改委重Intr大odu项ced over 20 new products including mobile 凹印在线 平台对位/ Led the “Micron-Level High- 盒连线质测系统发

币大张质 EMVA1288 用 module appearance inspection Min

捉iLE系D full-line质量检测 广 机器 置”，荣Spe获ed Vision牵 Qu头ali“ty微 Ins米pection目

inspection and bo量x-g检lui测ng 设quality i统nsp正ection equi布pment.量检测系 Development and Application”系统”， 测试平台， Validated lithium备 ba等tter十y el余ectrode inspection systems Persons民 统发布， Built the EM实VA现12芯88 片test/i国Count发 级高速视觉 全新彩 式发

开启机器 platform enabling quantita相

ng Persons装 major instrument project 锂电th池rou隔gh膜 client testing. 以深度学

tive 配行业的专 明一等o奖fficially app质rov量ed 检by 测the 开 盒单张 款全新产 布币凹印在 验收鉴定 testing of ch机ip a光nd电 cam性er能a Ministry of Science and PrintM 检测系统通 品 习算法能Rele视ase觉d t研he R发MB 发和应用” Launched an end-to-end intelligent inspection solution for high-end

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Prize for Scientific 开始独立自 Cou

dn Dti科spla技y 刷t质esti量ng. 极片检Gravure Online LPauenrchseodn tshe民 inspection equipment rolled out on a Technology and Devices” winning 项ECCVand Technological 部正式立

the项 解R决ec方eived the Nat获ion得al S国cience and Techn测olo系gy 统Progress S

检ec测ond设 Pr备ize.Quality Inspection co银lor行 RM科B 技large- 主lar研ge s发cal机e. 器 National Invention First Prize. 通过客户 工业竞赛Progress from the 案发布 Count科 通过客System” initiating People’s Bank of sh进eet步 qu二alit等y 视觉核心算 验证 冠军

machine vision China. inspection system Commenced independent技进步二户验证

Released VisionALN a professional-grade Advanced the GMQM intelligent factory solution from system

R&D. ce奖rtified as developme法nt o平f th台e VisionWARE product for platform alignment and robotic development to practical app等lica奖tion.reaching an core algoritVhmis piolantfoWrmA foRr machine assembly industries. Released the PrintMan series a new solution for single-sheet color box

internationally vision. E packaging and printing quality inspection.advanced level.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

ESG Development Framework

Since its inception LUSTER has been steadfastly committed to advancing industry Primary Responsibilities of the Strategy and Sustainable Development (ESG)

development empowering industrial intelligent manufacturing and fostering cultural Committee:

smart content creation. By integrating “AI + Vision” capabilities we have applied our ? Research and formulate the company’s long-term strategic development plans;

expertise across multiple industries—including consumer electronics new energy ? Review and provide recommendations on major investment and financing proposals requiring Board approval as stipulated in the Articles of Association;

printing and packaging advanced displays and automotive—as well as in diverse ? Assess and advise on significant capital operations and asset management projects

cultural content creation scenarios such as cultural media film and animation and mandated for Board approval under the Articles of Association;

experimental research and education. This approach aligns our business growth with ? Identify and evaluate major ESG risks and opportunities encompassing environmental

social responsibility and green development. social and governance factors and contribute to the formulation of the company’s

To enhance our governance of sustainable development LUSTER established the ESG strategies including strategic planning target setting policy development

Strategy and Sustainable Development (ESG) Committee in 2025. Operating under the implementation management and risk assessment;

unified oversight of the General Meeting of Shareholders and the Board of Directors ? Oversee the company’s ESG initiatives provide recommendations review the ESG report offer suggestions execute other duties as authorized by the Board and monitor

this committee forms a three-tier management structure—decision-making planning the progress of ESG-related matters.and execution—to provide cohesive leadership and direction for sustainability-related

matters.General Meeting Board of

of Shareholders Directors

Audit Committee

Nomination Board of Strategy and Sustainable

Committee Directors Development (ESG) Committee

Compensation and

Appraisal Committee

Strategic Key Sustainable

Planning Operations DevelopmentKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Stakeholder Communication

To understand the priorities and expectations of stakeholders regarding LUSTER’s sustainable development we engage with key stakeholders through appropriate

communication channels conducting dialogues and assessments that serve as critical references for advancing our sustainability efforts. In this report we have identified six

stakeholder groups with significant influence and close ties to the company. Moving forward LUSTER will continue to broaden communication channels with these key

stakeholders while actively identifying and engaging additional relevant parties to strengthen our capacity to manage sustainable development effectively.Stakeholders

Government and Regulators Shareholders Customers Suppliers Employees Society

* Corporate Governance * Technology for Good

* Innovation-Driven

Development * Innovation-Driven

* Corporate Governance

* Innovation-Driven Development * Supply Chain

* Employee * Compliance Management

* Technology for Good Responsibility * Shareholder Rights

Engagement * Information Security Development * Information Security and

Responsibility

* Shareholder Rights * Technology for Good

* Product

Customer Privacy * Product Protection

Topics Protection * Shareholder Rights

Responsibility

Protection Responsibility * Climate Change

* Compliance Management Protection * Corporate Governance * Compliance

* Innovation-Driven * Environmental

* Compliance Management Management Development* Supply Chain Management* Green Factory Development * Compliance

Responsibility * Pollutant Management* Environmental Management Management * Water Resource

* Anti-Unfair Competition Management

* Periodic/Ad Hoc * Product Requirement * Supplier Evaluation

Announcements Surveys and Onboarding * Employee Forums

* Public Performance * Customer Relationship * Open Tendering * Group-Wide Employee * Information * Regulatory Oversight

Communication Briefings Visits * Supplier Assessment Meetings Disclosure* Periodic Reporting

* Targeted Surveys * Roadshows and Reverse * Product Quality

and Evaluation * Complaint and * Public Sentiment

Channels Roadshows Communication * Supplier Audits and Grievance Mechanisms Monitoring* Training Sessions * Focused Issue * Product Maintenance and Improvements * Employee Satisfaction * Research Interviews

Discussions Service * Supplier Training and Surveys

* On-Site Surveys * Satisfaction Surveys ExchangeKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Identification of Material Issues

Process for Identifying Material Issues

LUSTER conducts a preliminary evaluation of the domestic and international sustainability landscape in which the company operates.Assessment of This assessment is guided by the Guidelines No. 14 of the Shanghai Stock Exchange on Self-Regulation for Listed Companies —

Corporate Sustainability Report (Trial) the GRI Standards for sustainability reporting and mainstream ESG rating frameworks both domestically

Sustainability and internationally including MSCI ESG Ratings as well as domestic indices such as Huazheng and Wind ESG ratings.Context

By integrating the broader context of sustainable environmental development with LUSTER’s own development trajectory

sustainability pressures and the external impacts arising from our operations we benchmark our practices against the sustainability

performance of upstream and downstream entities in our value chain and peer companies within the industry. Through this process we

Initial initially identified 12 material issues:

Screening Corporate Shareholder

Governance and Rights Information Anti-Unfair Tax Supply Chain Product Employee of Issues Risk Management Protection Disclosure Competition Management Responsibility Responsibility Responsibility

Climate Change Pollutant Waste Energy Emissions Management Management

Integration Building on this foundation we further refined our focus by aligning these issues with LUSTER’s business model and its close

with Business interconnections with society and the environment. This process resulted in the identification of five key material issues critical to our

Operations operations and stakeholder expectations:

and Expanded Technology for Innovation- Environmental Information Security

Disclosure Good Driven Growth Compliance Business Ethics and Customer Management Privacy ProtectionKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Dual Materiality Assessment Matrix

LUSTER evaluates 17 identified ESG topics based on their significance to economic environmental and social sustainability as well as their financial impact on the

company. These topics are categorized into three tiers—high medium and low materiality—following a rigorous assessment process. The classification results are

reviewed by the company’s Sustainability and Strategic Development Committee and subsequently submitted to the Board of Directors for approval.Environmental Technology for Good

Technology for Good Compliance Management

Innovation-Driven Development Corporate Governance and Risk Management Innovation-

Supply Chain Responsibility Climate Change

High Driven Information Disclosure Information Information Disclosure Growth

Materiality Information Security and Customer Privacy Protection Security and Customer Privacy

Topics Employee Responsibility Protection Shareholder Rights Protection

Corporate Governance and Risk Management

Shareholder Rights Protection

Supply Chain

Responsibility

Climate Change Business Ethics Employee

Medium Energy Management ResponsibilityProduct Responsibility Product Responsibility

Materiality Environmental Compliance Management

Topics Business Ethics

Anti-Unfair Competition Anti-Unfair Competition

Energy Management

Low Waste Management

Pollutant Emissions

Materiality Pollution Emissions Waste Management Tax Management

Topics Tax Management

Financial Impact Assessment

Environmental Social Governance

Significance to Economic Environmental and Social SustainabilityKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World! Table of Introd ESG

Contents uction Management Social

Governance Environmental

Social

社会章节页 Technology for Good

Innovation-Driven Development

Product Responsibility

Supply Chain Responsibility

Employee Responsibility

Information Security and Privacy Protection

2024 Environmental Social and Governance (ESG) ReportKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Technology for Good:Quality Builds the industryIntelligence Wins the Future

LUSTER: Infusing New Momentum into Industrial Manufacturing with AI + Vision

LUSTER stands at the forefront of the machine

vision industry harnessing cutting-edge optical and

computational imaging technologies sophisticated

Consumer Printing and Advanced Scientific software algorithms and advanced automation

Electronics New Energy Packaging Displays Automotive Semiconductors Research c apab i l i t i e s . O u r m i s s i o n i s t o p ro v i d e a

comprehensive suite of smart vision components

Intelligent Vision Simulation and Big Data Intelligent Automation vision systems intelligent equipment and end-to-

end smart factory solutions and services tailored to

the needs of industrial intelligent manufacturing.Intelligent Vision Intelligent Vision Intelligent Vision Smart Factory and Our offerings are deployed extensively across a

Components Systems Equipment Services diverse range of downstream industries including

* Smart Cameras * 3D Measurement * Automated Optical Inspection (AOI) * Quality Data Management consumer electronics new energy printing and

* Spectral Cameras * 3D Inspection * Process-Specific Machines * Smart Factory Management

* 3D Cameras * Intelligent Guidance * Process Production Lines packaging advanced displays automotive

scientific instrumentation and semiconductors. By

Advanced Optics and Computational Unified Software Algorithms: Industrial Intelligence Enhancement

Imaging seamlessly integrating “eyes” (sensory perception) Large-Scale Models for Automation Equipment

“brains” (analytical decision-making) and “limbs”

(operational execution) we enable a transformative

shi f t from convent ional manufactur ing to

intell igent production supporting national

initiatives to advance this critical evolution.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Precision at the Microscale

Bridging Virtual and

Physical Excellence

Virtual Reality (VR) devices are widely recognized as pivotal entry points to the metaverse demanding uncompromising performance and visual clarity. Achieving this

requires the integration of state-of-the-art technologies—such as chips displays lenses microphones speakers sensors cameras and high-endurance batteries—into

compact designs. These devices often incorporate a multitude of micro-components some as small as a grain of rice or mere millimeters in scale. On high-volume

production lines these intricate parts are essential to quality assurance yet their overlapping and interdependent configurations present formidable inspection challenges.To overcome these obstacles LUSTER has developed an innovative 2D+3D precision vision detection solution designed to eliminate blind spots and ensure meticulous

inspection of every critical feature. The 2D vision system excels in assessing non-three-dimensional structures utilizing high-resolution CCD color cameras to capture

images which are then processed through advanced algorithms. This approach enables rapid identification of assembly defects—such as missing screws or foam inserts—

and addresses subtle issues imperceptible to the human eye like improperly seated cables within slots thereby elevating product quality. Complementing this the 3D vision

system provides comprehensive 360-degree structural scans delivering precise measurements of height volume and other key metrics alongside real-time 3D

visualizations. It effectively detects anomalies such as floating screws or misaligned cable fastenings—challenges beyond human detection—further enhancing quality

control.“This integrated solution has significantly improved both the efficiency and accuracy of detecting minute defects. Now a single operator managing material loading andunloading suffices per inspection station reducing staffing needs by two to three personnel per machine” stated the project team leader. Through these advancements

LUSTER not only streamlines manufacturing workflows but also establishes a benchmark for precision and reliability in smart production environments.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Empowering Smart Factories with "AI + Vision"

Intelligence

A smart factory transcends the concept of a mere digital

factory; it represents an integrated high-efficiency system

that combines information technology automation and Connectivity

artificial intelligence. This synergy significantly enhances

production efficiency. Flexibility

Since 2023 LUSTER LightTech Co. Ltd. (LUSTER) has

collaborated with Yiyao Printing Co. Ltd. successfully

designing constructing and commissioning a state-of-the-art ERP

factory in under a year. At its core this facility prioritizes

quality management seamlessly blending the GMQM quality

management system and data acquisition tools with advanced MES

information systems including ERP (Enterprise Resource

Planning) MES (Manufacturing Execution System) and

WMS (Warehouse Management System). This deep WMS

integration has digitized and intelligentized the production

process yielding substantial improvements in product quality Information

and efficiency. Notably the factory has achieved a 50% Systems

reduction in labor needs while boosting production efficiency

by 200%.The launch of Yiyao Printing’s smart factory marks a significant advancement in both production performance and quality assurance. More than that it exemplifies the transformative potential of

intelligent upgrades within the packaging industry. Moving forward the facility will further incorporate cutting-edge technologies—such as smart production intelligent inspection and smart

logistics—to propel industry-wide innovation and efficiency to new heights.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

AI-Powered Transformation: Turning Novices into Master Technicians

The motherboard often regarded as the "heart" of electronic devices is critical to

ensuring equipment performance and longevity due to its reliability and stability.LUSTER has successfully deployed large-scale artificial intelligence models in

this domain revolutionizing the traditional approach to motherboard repair.Diagnosing an unknown issue on a motherboard is a highly complex task. For

novices reliance on standard operating procedures (SOPs) can mean painstakingly

working through thousands of steps to identify the problem. In contrast seasoned

technicians drawing on years of experience can pinpoint the issue in as few as a

dozen steps. LUSTER has bridged this gap by leveraging advanced technologies

such as knowledge graphs and large-scale AI models to codify and preserve the

invaluable expertise of veteran technicians.We have constructed a comprehensive knowledge base encompassing hundreds of

concepts—such as components test results and diagnostic steps—along with tens of

thousands of relational connections millions of attribute-value model data points

tens of millions of data entries and historical repair records spanning various

motherboard models over the years. By integrating large-scale AI models and

intelligent assistive tools we have optimized repair workflows boosting efficiency

and increasing output per unit time by 37.4%. Additionally the automated generation

of repair SOPs has accelerated by 50%. This enables employees with just three

months of experience to perform at the level of technicians with five years of

expertise" stated LUSTER’s R&D lead.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Technology for Good: Advancing Smart Content Creation

LUSTER: AI + Vision Redefining Everyday Experiences

Yuanke Vision a wholly owned subsidiary of LUSTER LightTech Co. Ltd. (LUSTER) leads the charge in pioneering applications such as metaverse virtual

reality Web3.0 digital humans immersive media and embodied intelligence. The company has established a robust product ecosystem that integrates light

field modeling motion capture panoramic imaging and XR filming technologies. This foundation underpins a suite of innovative solutions including digital

humans for e-commerce livestreaming data acquisition for embodied intelligence and the creation of hybrid virtual-real content. Committed to harnessing

technological innovation Yuanke Vision seeks to enrich daily life and elevate entertainment experiences delivering meaningful improvements to quality of life

and user enjoyment.Digital Digital Digital

Humans Objects Scenes XR Filming Robot Training

E-commerce AIGC Content

Live Streaming Synthesis

Intelligent Light Field Intelligent

System Tools Modeling System Intelligent Motion Panoramic Filming Intelligent XR Capture System System Filming System

Core Advanced Processing Cloud Computing and

Technologies Light Field Vision Technology Intelligent AI Algorithms Techniques NetworkingKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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AR + Motion Capture: Recreating the Majesty of "Shanhe Shi Chang'an"

During the 2024 Spring Festival Gala the AR-driven

interact ive segment "Shanhe Shi Chang'an"

captivated viewers nationwide. With a simple scan of

landmark buildings via their smartphones audiences

were transported to a vivid scene: the iconic poet Li

Bai brought to life through time sipping wine

crafting poetry and strumming the pipa amidst the

ancient splendor of Chang'an."The stars wheel through the sky a millennium unfolds;

gaze upon Chang'an today."

As the youthful Li Bai’s stirring lyrics echoed spectators in Chang'an raised

their phones to capture the moment "checking in" at the city’s historic

landmarks.Yuanke Vision LUSTER’s wholly owned subsidiary transformed the original

cinematic IP of Li Bai into a mobile-optimized digital asset. Leveraging the

FZMotion optical motion capture system the team delivered precise and reliable

motion data to animate "Li Bai" within the AR mobile environment. By blending

motion capture technology with real-time animation previews the production

process allowed for immediate refinements to actors’ expressions ensuring

alignment with the character’s artistic demands. This "what you see is what you

get" methodology not only streamlined delivery but also elevated the quality and

efficiency of the Spring Festival Gala project creating a seamless and impactful

viewer experience.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Partnering with Unitree to Deliver the FZMotion Embodied

Intelligence Data Collection Solution

Yuanke Vision a wholly owned subsidiary of LUSTER collaborated with

Unitree Robotics to unveil the FZMotion embodied intelligence data

collection solution at the China Automation Conference. This state-of-the-

art system exemplifies cutting-edge technology steering the future of

automation and embodied intelligence.As robots increasingly require adaptability to complex environments and

task generalization large-scale models demand ever-growing volumes of

training data. To meet this challenge Yuanke Vision developed the

FZMotion solution—a highly efficient cost-effective framework designed

to expedite the commercial deployment of humanoid robots. Utilizing the

FZMotion optical motion capture system the solution maps human

skeletal data directly onto the Unitree H1 robot’s structure enabling

precise control while capturing accurate posture and motion trajectory data.This process refines task strategies and optimizes control algorithms

laying a robust foundation for next-generation robotic capabilities.FZMotionKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Pioneering a New Paradigm in E-commerce Livestreaming

The internet has entered a transformative phase where once-dominant competitive advantages are under scrutiny. With traffic dividends waning and user growth decelerating

e-commerce leaders are compelled to innovate new revenue streams to thrive in a fiercely competitive landscape.Yuanke Smart Broadcast Digital Human the first digital human product powered by the domestically developed GLM large-scale model represents a breakthrough in this

space. This solution offers real-time replication of human voices synchronized lip movements and dynamic motion rendering. During livestreams it engages audiences

interactively providing real-time voice responses to comments and questions.Additionally the product supports one-click importation of product links automatically

generating tailored promotional scripts aligned with selected items. Requiring no specialized

hardware it enables rapid cloud-based streaming significantly reducing operational costs to just

32 RMB per day while achieving an average GMV of 2000 RMB per day. To date “YuankeSmart Broadcast” has empowered over 1000 leading brands—including Xiaomi Hisense Haier

Bosch ASUS Seven Brand and Goldlion—to achieve transformative upgrades in service

delivery and business growth through digital human livestreaming technology. It has emerged as

a formidable force in the e-commerce livestreaming landscape.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Innovation as a Driving Force

Intellectual Property Management

At LUSTER technological innovation drives our mission. We recognize the

paramount importance of intellectual property (IP) and uphold the legal rights of third-

party IP holders with equal rigor. To this end we have instituted a comprehensive IP

management framework encompassing policies such as the Patent Management

Measures of LUSTER LightTech Co. Ltd. Commercial Secrets and Sharing

Management Measures of LUSTER LightTech Group Trademark Management

Measures of LUSTER LightTech Computer Software Copyright Management 2019 年 2 2002200年 2 022012年1 2 02202年2 2 2002233年 2 2002244年 2019年 2 022002年0 2 022012年1 2 02202年2 2 022032年3 2 2002244年Measures of LUSTER LightTech and the Intellectual Property Legal Compliance

Guidelines. These policies span the full IP lifecycle—from discovery and protection to R&D Investment (2019–2024) R&D Expense Ratio (2019–2024)

utilization risk monitoring and training—covering patents trademarks and software From 2019 to 2024 LUSTER has maintained consistently high R&D expenditure

copyrights. By fostering a company-wide culture of IP awareness we ensure robust achieving a compound annual growth rate of 24%.stewardship of our intellectual assets. In 2024 the R&D expense ratio increased by 9% compared to 2019.

2024 Intellectual Property

Infringement Incidents: 0 2024 Patent Portfolio cases

799 Cumulative Patents

2024 R&D and Innovation

As one of the first companies in China to pioneer machine vision technology 387 381

LUSTER has consistently driven its technological and product advancements New Patents in 2024

through innovation since its inception. The company’s investment in foundational

machine vision technologies and innovative applications has grown steadily year 181

over year with the originality and sophistication of its R&D outcomes validated 103 77 1 31

through patents academic contributions and international application competitions.Total New Invention Utility Model Design Total Cumulative Cumulative Cumulative

Patents in Patents Patents Patents Cumulative Invention Utility Model Design

2024 Patents Patents Patents Patents

Patent MetricsKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Key Technology and Product Progress and Achievements in 2024

In 2024 LUSTER continued to intensify its investments in machine vision and the cultural metaverse achieving significant advancements in technology

accumulation product releases and positive customer and market feedback.February AR and motion capture March Launched the Released version 1.5 of April The first smart

systems were successfully digital human e- Introduced a series of new camera

* LUSTER was recognized as a

the F.Brain deepcommerce live- products: “Beijing Digital Economyfactory in China’sapplied in CCTV Spring learning platform. Benchmark Enterprise.” pharmaceutical

Festival Gala programs streaming platform 4K/16K line-scan camera

for the first time. 4K true-color line-scan camera * The F.Brain intelligent industrial

packaging industry

including Shanhe Shi was commissioned.Chang’an and Jinli. 10-Gigabit Ethernet line-scan camera

quality inspection platformShort-wave infrared area-scan received the “Preferred Solution ofcamera the Year” award in the

commercial market.* Four products were included in the

Innovative Product Catalog for

Intelligent Inspection Equipment.The FZMotion motion capture July Launched a scene- June

May

Wholly-owned Released new products: Won the First Prize at

specific alignment subsidiary Yuanke Short-wave infrared camera the National Radio and system was adopted by universities Television

including Beijing University of calibration testing system Shijie contributed to Short-wave infrared line-scan camera

Science and Technology Zhejiang for circuit board and the official release of Short-wave infrared high-resolution line-

Administration’s High-

University South China electronic assembly Technical scan camera

Tech Video Innovation

applications. Requirements for 3D Infrared imaging laser beam quality Application University of Technology and Competition.Beijing Institute of Technology for Virtual Digital Human analysis software

robotics UAV and vehicle Model Production 1.0.experiments and training.November

September October Unveiled the

December

Contributed to the official Yuanke Zhibo was LUSTER LightTech won Successfully supported Established a globalrelease of the China honored with the “Gold the championship in the CCTV’s Qianli JiangshanFZMotion strategic partnership withArtificial Intelligence White Service Provider” title in global machine vision top Ruhua gala at the Shougang

embodied Enjie for AI large-scale

competition ECCV Park Curling Arena. intelligence data Paper Series – Metaverse the Jingmai Service model development.Industrial Quality collection solution.Technology (2024 Edition). Market.Inspection Challenge.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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AI and Intelligent Technologies AI and Intelligent Operations

Since 2005 the company has independently developed its algorithm platform which

by 2024 has evolved to version 6.3. It stands as one of the few AI algorithm platforms LUSTER has developed an AI application platform encompassing intelligent Q&A

in China with a comprehensive set of algorithm modules and extensive practical AI document processing R&D efficiency enhancement intelligent meetings service

experience. By integrating traditional machine vision algorithms with deep learning consultation and product promotion. By harnessing AI tools the company has

the company launched the F.Brain image large model achieving up to 99.99% improved operational service and communication efficiency across the organization

detection accuracy in industrial intelligent manufacturing. This innovation has reducing time spent on repetitive tasks.empowered multiple industries to transform smart factories and lighthouse factories

from vision into reality.Following its championship win at the CVPR international competition in 2023 the

company embarked on new achievements on the global stage in 2024.The team from LUSTER’s Knowledge Reason Research Institute in collaboration withTsinghua University secured first place in the “One-Shot Industrial DefectSegmentation” challenge. The winning method “One-Shot Industrial DefectSegmentation for Open-Set Scenarios” represents a breakthrough in LUSTER’sindustrial multimodal vision large-scale model technology. By employing a “segment-then-verify” approach this method significantly enhances the efficiency and precision of

industrial quality inspections for open-set defect segmentation.LUSTER signed a global strategic cooperation agreement with Enjie. In 2024 notable progress was made in three key areas: intelligent customer service

The partnership focuses on digitalization and intelligentization in the AI-driven R&D efficiency improvements and enhanced office productivity. The

lithium battery sector leveraging LUSTER’s AI algorithms and quality company remains committed to expanding the application of AI tools in operations

management expertise to develop industry-specific applications for

“vision + AI + quality big data management.” This collaboration aims and workflows fostering a more open convenient and efficient work environment.to support the establishment of Enjie’s global digital quality center

achieving consistent product quality management worldwide. Cost Reduction and R&D Office

Efficiency Gains Efficiency Productivity

By adopting AI-powered office

By implementing AI-powered Through deep integration of AI tools for text creation report

A collaborative paper by Tsinghua University and LUSTER’s Knowledge customer service and building with R&D tools the company generation intelligent meetings

Reason Research Institute titled Self-Aware Tuning for Segment Anything an enterprise-level knowledge has enabled automated code and smart diagramming

Model in Anomaly Segmentation was successfully accepted by the 39th base LUSTER has replaced a writing optimization testing LUSTER has advanced office

Annual AAAI Conference on Artif ic ial Intel l igence a premier significant portion of manual and conversion. This has intelligence boosted productivity

international AI conference. The team innovatively proposed a self-aware service tasks optimizing accelerated software lowered labor costs and allowed

tuning method that achieves efficient and precise anomaly segmentation with workflows reducing

development reduced error rates employees to focus more on core

operational costs and improved project quality and

minimal abnormal samples. business activities.enhancing work efficiency. shortened R&D cycles.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Product Responsibility ITR Management Process and Policy

LUSTER has established a comprehensive quality management system that spans

research and development supply chain and after-sales service. From the sourcing To ensure frontline employees remain closely engaged with customers and

of raw materials to the delivery of products and subsequent after-sales support the responsive to their needs LUSTER has established the ITR Management Process

company enforces stringent quality control standards and processes to ensure that specifically addressing management issues product technical issues and customer

product quality consistently meets customer expectations. requirements encountered during customer interactions. Issues are categorized

into three severity levels—critical serious and general—with designated

The company focuses on managing critical risk points within its product responsible persons assigned at different levels. Clear qualitative and quantitative

management processes prioritizing robust handling of customer requirements requirements are set for the duties and response times of these responsible persons

addressing technical and managerial issues during product delivery and enhancing to ensure effective resolution of product-related issues.capabilities to resolve customer feedback during after-sales support. To this end

LUSTER has implemented a series of policies and procedures including the ITR

Division General

Management Process ITR Management Policy Customer Service Issue Handling Manager Sales Director Sales Manager

Process Product Technical Issue Handling Process Repair Service Management Secondary responsible person for Secondary responsible person for

Process On-Site Issue Handling Service Process Continuous Improvement Primary responsible person for unresolved critical product critical product technical issues serious product technical issues

Management Process and LUSTER LightTech Quality Accountability Policy. These technical issues and critical and critical management issues and serious management issues

management issues exceeding required to contact the customer tasked with promptly responding frameworks facilitate issue resolution and continuous improvement across various four days. within one hour of receiving the to customers.stages reflecting the company’s commitment to its responsibilities toward customers issue to clarify details.and society.Customer Service Customer Service On-Site Customer Service

Director Department Manager Lead

* Primary responsible person for * Primary responsible person for * Primary responsible person for

As of the end of 2024 100% of critical product technical issues serious product technical issues. general product technical issues

and critical management issues * Responsible for escalating and general management issues.LUSTER’s production sites have as well as for serious product issues immediately if unable to * Required to escalate issues

technical issues unresolved resolve them. immediately if unable to

achieved ISO 9001:2015 Quality after four days. resolve them.Management System certification. * Required to ascertain the actual situation of the issue within two

hours and assign customer

service personnel to address it.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Receive Handle Close

Initiate Log into Platform and Satisfaction Submit Requests Evaluation Complete

Review and Assign

ITR Incidents Daily Satisfaction Survey Process

Issue Close ITR

Product Technical Issue Resolved Incident

Resolution Process

Customer Service Issue

Resolution Process

Management Issue

Resolution Process

Customer Needs

Handling Process

Customer Satisfaction

To comprehensively understand customer satisfaction with the company’s products and Customer Customer Complaint

services the company established daily satisfaction processes for routine complaint Satisfaction Rate: Resolution Rate:

resolution and product delivery acceptance as well as annual satisfaction processes to 91% 100%

accurately understand and meet customers’ current and future needs and expectations.Following the completion of daily and annual satisfaction surveys the company

organizes a satisfaction enhancement taskforce comprising CQE quality supervisors Number of Quality

sales supervisors customer service supervisors product line managers and R&D Quality Issue Closure Improvements:

supervisors from various departments. Based on the satisfaction survey reports the Rate: 94%1446

taskforce develops improvement plans for identified issues to continuously enhance the

ability to serve customers and the industry.Sales

Business Customer Service/Sanles CQE Customer

Managers EngagementKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Supply Chain Responsibility

The supply chain ecosystem is a cornerstone of LUSTER’s development. The company continuously refines its supply chain management processes and strategies

implementing rigorous controls across supplier onboarding evaluation auditing and improvement to mitigate risks. Through strategic investments and acquisitions in the

upstream machine vision industry LUSTER optimizes its supply chain system ensuring both security and sustainability while reinforcing its competitive advantage. The

company champions the concept of a “green supply chain” embedding this philosophy into its practices to elevate supply chain management standards.Supply Chain Management

Supplier Onboarding and Supplier Improvement

Qualification Supplier Classification Supplier Evaluation Supplier Audits

LUSTER evaluates Suppliers are categorized The company conducts Drawing on annual business

potential suppliers based on into strategic preferred regular supplier assessments Based on the previous year’s

multiple criteria including basic restricted and focusing on five key supplier quality performance

plans operational

performance reports

years of production eliminated tiers based on dimensions: technology and current management external feedback and

experience product quality factors such as industry quality service delivery strategies LUSTER supplier quality audit and

production costs leadership market and cost. Special emphasis is develops an annual supplier performance data LUSTER

environmental and safety competitiveness cost and placed on top-tier suppliers audit plan. During audits a generates improvement

certifications business past collaboration scores. and those rated below C in dedicated audit team is requests to initiate targeted

ethics qualifications and prior evaluations to ensure formed to oversee the enhancement projects.service levels. Integrity product supply quality and process and ensure

robust safety systems and guide underperforming accountability for outcomes.Improvements are finalized

only upon approval by

environmental suppliers toward relevant departments

responsibility are integral to improvement. ensuring a closed-loop

the assessment process. process.Supplier Development and Supplier Strategy Management Supplier Audit Management

Certification Process Process Supplier Continuous Supplier Performance Process

Supplier Collaborative Supplier Classification and Supplier Claims Management Improvement Management Management Process

Development Management Process Resource Pool Management Process Process ProcessKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Sustainable Supply Chain Development ? Early investments in Hunan Changbudao Optoelectronics enabled the customized development of specialized lenses including high-precision large-

depth-of-field imaging lenses and high-dynamic infrared motion capture lenses.Green Supply Chain

Integrity and Anti-Corruption Environmental Protection

Chips

LUSTER strictly adheres to fair transparent and During supplier certification LUSTER mandates

equitable business principles fostering mutual environmental evaluation certifications as a

management oversight accountabi l i ty and prerequisite for supplier selection. Throughout

Vision collaborative growth with suppliers. The Sunshine collaboration suppliers are required to comply

Lenses Systems Procurement Agreement prohibits both parties and wi th a l l appl icable laws and regula t ions

their relatives from accepting bribes kickbacks governing the production transportation storage

handling fees commissions or any form of and disposal of waste minimizing environmental

improper benefits ensuring a healthy and ethical pollution and harm.Self-

developed business environment.Camer

as

Intelligent

Partially self- Quality ResponsibilityEquipment Construction Safety

developed

Light

Sources LUSTER has established HSE (Health Safety LUSTER requires suppliers to hold ISO 9001

Environment) management standards requiring certification or equivalent as a condition for

To ensure the continuity and security of its supply chain LUSTER has suppliers to adhere to safety production regulations onboarding and to maintain effective quality

strategically positioned itself in the upstream machine vision industry through a and operational protocols. Suppliers must develop assurance systems during production. Alongside

combination of in-house R&D acquisitions and investments. H S E t e c h n i c a l m a n a g e m e n t p l a n s f o r k e y signing Procurement Contracts the company construction or high-risk operations and conduct e n t e r s i n t o Q u a l i t y S e r v i c e A s s u r a n c e

In 2024 LUSTER acquired JAI a well-established international machine vision regu la r sa fe ty inspec t ions a s pe r company Agreements with customers to supplement and

company to strengthen its camera product portfolio and enhance market and requirements implementing effective measures to refine the main contract ensuring delivered

industry synergies. eliminate safety hazards. products meet end-customer quality expectations.? In the chip sector the company invested in Changguang Chenxin and Juexin

Micro which specialize in CMOS and infrared chips and in the first half of

2024 in Zhongke Fusion Perception Intelligence Research Institute focusing

on MEMS and SOC chips.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Head to Japan to accelerate integration with JAIKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Employee Responsibility

Supplier Anti- Supplier Safety

Corruption Agreement Signing Employee Rights Protection

Agreement Rate LUSTER LightTech respects and safeguards the legitimate rights of all employees

Signing Rate embedding this commitment into the formulation and execution of its policies. The

90.40% company has established a series of management policies and procedures including the

90.40% Employee Handbook Anti-Discrimination Anti-Harassment and Anti-Forced Labor

Policy Recruitment Management Policy Attendance and Leave Management Policy and

Employee Welfare Policy. These measures prevent forced labor workplace

Supplier Training discrimination and harassment by regulating employee selection workplace conduct

and compensation practices.LUSTER organizes regular

specialized training for suppliers In 2024 LUSTER introduced new policies such as the Employee Communication

addressing common issues identified Supplier Subsidy Policy and the LUSTER LightTech Community Management Policy. The

during supplier evaluations and key Training communication subsidy policy standardizes phone expense reimbursements based on the

challenges encountered during project communication demands of specific roles. Additionally the company established the Sessionsimplementation. Training topics Guangming Community guided by the principle of “open dialogue fearless expressioninclude: 30 sessions and no blame for speaking out.” This platform fosters an inclusive environment for

information and knowledge sharing serving as a modern “Jixia Academy” for all

? Updates to supplier management LUSTER employees to contribute ideas address challenges and drive continuous

policies improvement.? Component quality improvement Supplier

initiatives Audits In 2024 the company recorded:

? Product quality testing standards

? Specialized training on product 44 audits

quality issues 0 incidents of forced labor child labor

? EHS (Environmental Health and workplace discrimination or harassment.Safety) management trainingKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Welfare Subsidies Holiday Gifts

Fair Recruitment

* Team-building allowances upon joining.LUSTER adheres to a people-oriented approach and the principle of fair * Monthly lunch subsidies with additional * Monetary gifts distributed with

competition in talent acquisition as outlined in its Recruitment Management meal allowances for employees working salaries during New Year’s Day

Policy. The company ensures an orderly and standardized recruitment process overtime beyond two hours in the evening. Spring Festival and Mid-Autumn

maintaining fairness transparency and impartiality. Candidates are evaluated * Communication subsidies tailored to job Festival.solely based on their professional skills and technical qualifications without requirements.* Half-day leave and red envelope

* Housing subsidies for recent graduates or gifts for female employees on

discrimination due to race nationality religion gender marital status or other employees relocating to permanent work International Women’s Day.factors. All individuals meeting the company’s hiring criteria have equal locations for the first time.opportunities for interviews and selection.To ensure broad reach LUSTER employs diverse recruitment channels Commercial Insurance Health Checkups

including online platforms campus recruitment job fairs internal promotions * Starting the month after onboarding full-

employee referrals and headhunters ensuring hiring information is accessible time employees are eligible for

fair and transparent to all potential candidates. supplementary medical and accident * Full-time employees are entitled to

insurance. an annual health checkup starting

* The company funds personal accident and from their second year with

term life insurance to provide coverage for discounted access extended to

2024 Recruitment emergencies or major incidents.

family members.* For employees traveling abroad on

business the company purchases business

268 travel insurance. hires Commemorative and Condolence Talent Fund Support

* Low-interest loans are available for eligible * Anniversary gifts for employees’

employees to support home purchases or

Social Insurance and Welfare onboarding milestones.address temporary family hardships. * Wedding gifts for employees within

Eligibility requires: one year of marriage registration.To enhance employees’ sense of belonging and responsibility while fostering a * At least three years of service with at least * Condolence support during critical

healthy harmonious and secure work environment LUSTER updated its two B-or-higher performance ratings in the moments such as serious illness

Employee Welfare Policy in 2024. This policy outlines clear processes and past two years (or recognition as a Group bereavement or family visits tailored

benefits including welfare subsidies holiday gifts commemorative and Gold Employee); or to employees’ needs.condolence support commercial insurance international travel insurance * Senior management (Level 20 or above) relocating to Suzhou for home purchases.health checkups team-building activities and internal loans.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Democratic Management and Suggestion Rights

LUSTER has established the Guangming Community on the DingTalk communication platform serving as an open forum for employees to freely express opinions

identify issues and exchange ideas. This platform is designed to foster collective wisdom inclusivity and the sharing of information and knowledge among all LUSTER

employees. The company encourages employees to be candid fact-based and proactive in “exposing issues” “speaking their minds” and “proposing optimizationsuggestions.” Employees are urged to voice constructive feedback and well-reasoned critiques within the community.Business

Company Policy Feedback Zone Joyful LUSTER LUSTER Life Office Essentials Conduct:

Q&A Community:

Reporting

Sharing the issues. Focusing on Club activities IT attendance Reporting

latest policies Submitting lifestyle topics and operations. and HR-related violations or

and regulations. suggestions and and casual announcements non-compliance.critiques. conversations. and FAQs.Yes Requires approval from the President

Content Review: or HR Committee for anonymous

Determine if the

submission involves legal No investigation and follow-up.or audit-related issues.Publish (relevant information has Issue Feedback Response (relevant

Coordinate with relevant been processed or is being prepared information has been processed or is being

department heads for for processing with follow-up prepared for processing with follow-up

confirmation. feedback available for release) feedback guidance)

Content Feedback:

Assess sensitive terms or Publish (after content feedback Follow-Up to Steer Comment

content categories for has passed review) Direction Closure

approval.Published Content

(articles or Return with Reasons

comments)Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Talent Development and RetentionLUSTER recognizes the critical importance of talent and is committed to attracting outstanding professionals from across the country fostering a “diverse inclusive andharmonious” team.

371

179636361

18 Doctoral Degree 462

20% Female Over 40 Sales Personnel 313

10% 34% Technical

Holders 20%25% 30 and Under Support

17%

1% Personnel

By Master’s 1035 Aged 31–40 Degree 111 Production By

Education Holders By 56% By Age 6% Personnel Professional

579 Diploma Level Gender 222 Administrative Composition

31% and Below Personnel

Bachelor’s 791

Degree Male 1479

12% R&D 735

Holders 43% 42 Finance

Personnel 40%

80% Personnel2%

66

4%

Normalized

Talent Development System operation of Procurement the online Personnel

learning

After evaluating the 2023 company-wide training outcomes and current workforce capabilities LUSTER platform.formulated a targeted 2024 training plan at the beginning of the year. The plan includes specialized training Leadership

programs for leadership development rapid onboarding of new employees skill enhancement for key roles and development programs. Internal

2024 Talent trainer team

professional track development. Additionally the company established a normalized online learning platform to building and

Development development.support a qualification-driven curriculum and streamline learning project operations. This platform facilitates Plan

knowledge retention experience extraction and shorter training durations enhancing overall training efficiency.To improve training quality and effectiveness LUSTER created an internal trainer resource pool supported by Rapid

Skill onboarding

standardized policies for trainer selection retention and management. Clear incentive measures and certification enhancement for and

key roles. development

requirements were defined to build a robust internal trainer team and ensure sufficient project reserves. systems for

new

employees.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Critical Role Talent Development

Leadership Development Program LUSTER places significant emphasis on fostering the growth of talent in frontline

LUSTER prioritizes the cultivation of leadership capabilities to empower senior "operational" departments and key support roles ensuring a robust pipeline of skilled

executives in marketing research and development (R&D) and critical support professionals. The company designs tailored learning pathways to address

functions. The company’s Human Resources Training Department collaborates with competency gaps enabling the successful implementation of a Talent Development

business and support function leaders to design targeted competency enhancement System across professional tracks such as R&D customer service supply chain and

plans tailoring solutions to specific needs and delivering structured development account engineering (AE).programs. Adopting a "training-through-practice" approach these initiatives are Vision System Customer Service

implemented quarterly with on-the-job performance monitored and outcomes Project-Based Financial Management ("Four Calculations") Supervisor Training Camp

integrated iBnrtoa nleda dSetrrsahtiepg yevaluations. Instilling Business Acumen: Integrating pre-sales and after-sales processes to foster a comprehensive operational mindset.Closed-Loop Risk Management: Ensuring project assumptions are Define Customer Service Supervisor Responsibilities and

Change Leadership validated and outcomes are measurable enhancing project visibility

Identify Gaps

and control. From Practice to PracticeOrganizational Marketing Systems

Leadership Strategic Leadership

Implementation of IPD 2.0 Processes Focus on Core Competencies Required in Key Work Scenarios

Tax and Business Financial Continuously empower critical roles to support the seamless Conduct In-Depth Discussions and Learning to Achieve Role

Models Organizational Performance

adoption of Integrated Product Development (IPD) 2.0 processes. Transformation

Systems

Efficiency Growth Inspection Equipment Project Manager Intelligent Equipment Project Manager (PM) Training Program (PM) Training Program

Pinnacle ProgramKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Rapid Onboarding System for New Employees

2024 Training Metrics

In 2024 LUSTER LightTech Co. Ltd. further refined its comprehensive training system to ensure new employees can 2024 Training MetricsTotal Training Hours:

efficiently transition into their roles within their first year. The company designed a structured onboarding curriculum Investment: 2.34 million CNY 23548 hours

encompassing three key dimensions—integration into the company industry acclimatization and role-specific preparation.Additionally LUSTER formalized its new employee training policies codifying current practices while committing to

ongoing optimization. Coverage:Offline Training: 511 participants

Integration into Role-Specific Online Training: 1948 participantsIndustry

the Company Acclimatization Preparation

Corporate Culture Internal Trainer Development and CertificationIndustry Knowledge Pre-Role Essential Skills

Training Training Training In 2024 LUSTER continued to identify and nurture

exceptional internal t rainers implementing an

* Familiarize employees with

the company’s mission and Provide insights into the * Define responsibilities and set

integrated management framework for selection

values. industry products and clear performance training utilization and retention. The company * Clarify institutional processes expectations.and emphasize adherence to business operations. * Develop essential job-specific established clear incentive mechanisms and certification

corporate red lines. Enable new employees to

* Equip employees with swiftly adapt to their

skills for rapid competency. requirements to build a robust pool of trainers capable

professional roles. * Enhance work quality and professional skills relevant to efficiency while minimizing of supporting enterprise-wide training initiatives.business scenarios. errors. To enhance teaching quality and strengthen trainers’

ability to develop talent LUSTER introduced five

specialized courses for aspiring internal trainers in 2024.Candidates must complete these courses and pass

assessments to earn certification as internal trainers.How to Be an Outstanding Mentor

? Effective Career Development Conversations

? Task Assignment and Follow-Up

? Coaching Skills

? Feedback TechniquesKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Employee Compensation and Promotion Individual

Performance A performance rating of C or higher.Contribution

Performance Evaluation and Promotion Key Competencies Demonstrated ability to meet the critical requirements

and Qualifications of the target role.LUSTER aligns its strategic and operational goals with organizational and individual

responsibilities. The company’s key objectives are broken down into organizational

performance targets which are further translated into individual performance Tenure At least six months in the current position.commitments. This performance management system integrates business and personnel

management fostering alignment across company organizational and individual goals

to motivate employees to proactively pursue high-performance outcomes. By reducing Incentives and Compensation

internal information loss and eliminating inefficient work the system enhances LUSTER’s compensation structure is aligned with external market standards

collaboration and efficiency between the organization and its employees. factoring in market competitiveness to ensure fairness. Guided by the principle

of “breaking averages widening gaps and incentivizing value creation” the

Organizational performance targets are derived from the company’s overarching goals company offers highly competitive salaries for key roles and outstanding

and translated into actionable key initiatives for execution. Departments periodically contributors. It employs a balanced approach combining short-term and long-

conduct gap analyses on performance execution adjust strategies as needed and report term incentives integrating salaries benefits and stock options to promote

progress to the group. Individual employees commit to organizational performance internal equity while encouraging employee growth.targets through personal performance agreements. During this process departments and

related teams document critical behavioral events and outcomes providing regular Fixed Salary Determined based on job evaluation results reflecting the employee’s role and performance capabilities.coaching to employees.Annual Bonus Tied to the company’s annual profit targets with individual bonuses Short-Term linked to performance evaluation results.The company employs a combination of semi-annual and annual performance Incentives Awarded for significant contributions to key strategic projects

evaluations with departments tailoring assessment cycles to their specific business Spot Incentives recognizing exemplary teams and individuals as role models across the company.needs. LUSTER adopts a qualification system where individual performance results Company Comprising statutory and proprietary benefits reviewed annually based on

directly influence job grades. Promotions primarily consider the past two performance Benefits national policies and company performance.evaluations with a minimum requirement of a C-grade or higher. Beyond performance

Long-Term Equity Include restricted stock stock options or employee stock ownership plans promotions also factor in the job requirements of the higher role and the employee’s to optimize the balance between short- and long-term compensation.These align individual and company interests fostering a shared

tenure in their current position to determine eligibility for advancement. Incentives Incentives commitment to long-term success.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Employee Safety and Health

LUSTER prioritizes the physical and mental well-being of its employees. After

assessing potential safety risks the company implements protective measures through

a comprehensive Occupational Health and Safety Management System. This system

thoroughly identifies operational safety risks hygiene risks chemical risks and other

hazards establishing protocols to mitigate these risks. First-aid kits for common

workplace injuries and illnesses are readily available to ensure immediate care.Beyond safety LUSTER organizes recreational sports and skill-based activities to

promote employee relaxation and well-being outside of work. Annual health checkups

traditional Chinese medicine consultations and events such as International Women’s

Day celebrations further strengthen employee care fostering unity and a sense of

belonging among LUSTER’s workforce.Occupational Health Free Medical Clinics Company Anniversary International Women’s Training Celebration Day EventKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Occupational Health and Safety Management FrameworkLUSTER aims to achieve “zero fatalities or serious injuries zero major fire incidents zero major equipment accidents zero major liability incidents and zero occupationaldisease incidence.” To this end the company has established a robust safety management structure across the group and its major office locations with dedicated roles

including Safety Committees Safety Management Offices and Safety Officers to oversee occupational health and safety matters. All LUSTER production facilities have

obtained ISO 45001 certification ensuring 100% employee coverage under the Occupational Health and Safety Management System.Safety Committee Safety Management Office Involved Business Departments Safety Officers

* Implements national and local health * Executes the Safety Committee’s Quality Management Department * Support the daily operations of the

and safety policies and regulations.* directives.* Manages controlled processes for Safety Committee.Reviews and sets group-wide safety * Develops safety management policies safety-related documents. * Ensure training for all legally

policies and objectives. and drafts annual safety plans. * Formulates and audits safety required certified personnel before * Conducts comprehensive and * Monitors safety practices across regulations. they assume duties.specialized safety research. subsidiaries and offices. Finance Management Department * Track and evaluate the performance * Oversees investigations analyses and * Conducts safety inspections and * Oversees budgeting accounting and of safety staff.decisions related to safety incidents. ensures timely rectification of issues. financial settlements for safety * Assist subsidiaries in identifying * Manages the appointment and * Investigates violations of safety laws initiatives. hazards and developing solutions.evaluation of safety personnel across and regulations. * Ensures financial support for safety * Organize emergency response drills

locations.* * Recommends safety-related

programs. for subsidiaries.Approves resource plans to ensure commendations penalties and Human Resources Department * Participate in hazard identification

adequate manpower funding and promotes best practices. * Coordinates safety education and and mitigation efforts.materials for safety initiatives. training maintaining accurate records. * Compile and report safety incident

* Validates emergency response plans * Manages appointments for safety statistics promptly.for safety incidents. management personnel. * Communicate and implement

* Implements subsidies incentives and actions for incident resolution.penalties for safety personnel.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Occupational Health and Safety Risk Identification and Control EHS Incident HandlingLUSTER LightTech Co. Ltd. adheres to the principle of “whoever identifies a safety LUSTER has standardized procedures for handling incidents caused by safety andhazard is responsible for monitoring and rectifying it.” The company conducts health hazards. Upon occurrence the company promptly initiates incident

regular comprehensive risk assessments across fire safety office safety operational investigations assigns accountability and regulates risky behaviors or conditions to

procedures equipment and facilities emergency plans emergency material reserves prevent recurrence. The process includes:

and on-site management. Identified hazards are classified based on unsafe conditions

Formation of an Incident handling

and potential impacts with corresponding resources and response measures allocated Immediate incident reporting incident and investigation Incident analysis

to address them effectively. investigation team procedures

a) Scope: Safety responsibility systems safety management policies operational Inspection and Incident analysis Incident statistics Archiving of

procedures safety training equipment and facility management emergency plans evaluation and reporting incident records

and drills emergency resource allocation and on-site management.b) Responsible Body: Company Safety Committee.c) Frequency: Quarterly. Safety Training and Awareness

a) Scope: Labor discipline safety education process equipment and electrical In 2024 LUSTER conducted safety training on common hazards and operational

instrumentation management fire safety chemical handling office safety and on- safety practices including forklift safety heatstroke emergency drills chemical spill

site operations management. exercises and mechanical equipment safety training. The company also organized

b) Responsible Body: Administrative Management Department and designated continuous Safety Month activities to reinforce employee safety awareness.safety personnel.c) Frequency: Monthly.a) Scope: Labor discipline safety education process equipment and electrical

instrumentation management fire safety chemical handling and on-site operations

management.b) Responsible Body: Regional safety officers in coordination with workshop and

warehouse departments.c) Frequency: Weekly.a) Scope: Labor discipline employee behavior work environment fire safety

equipment electrical systems and chemical management.b) Responsible Body: Operational teams in workshops and warehouses.c) Frequency: Daily.Workshop

Team Safety ComprehensivSafety Facility Safety

Inspections e Safety Inspections Inspections InspectionsKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Information Security and Privacy Protection Team Leader Technical Director

LUSTER has established information security policies and processes tailored to its current * Formulates cybersecurity strategies and * Designs and implements secure technical policies.development stage implementing technical measures to prevent unauthorized external architectures.* Approves cybersecurity projects and * Manages technical teams to ensure

intrusions while enhancing employee education and internal management. These efforts budgets. effective execution of security measures.ensure the confidentiality integrity and controllability of company information. Potential * Supports rapid and effective crisis * Leads research to adopt advanced

risks include: response. security technologies against emerging

* Reports cybersecurity status to senior threats.Trojan horse backdoors Viruses and worms management and relevant departments

Hacker penetrations regularly.Logic bombs

Safety Compliance System and Network

Insider threats Information Officer AdministratorsDenial-of-service

* Monitors domestic and international * Manage daily operations of servers and

Assets attacks

System bugs cybersecurity regulations to ensure

applications.compliance. * Execute system upgrades and patch deployments.Social engineering * Develops and updates internal security * Monitor firewalls and other devices to prevent

Hardware failures Fires Earthquakes standards and procedures. network attacks.* Organizes security education and training * Oversee data encryption decryption and backups

Network Thunderstorms to enhance company-wide awareness. to ensure secure data transmission and prevent

communication Power outages loss.failures * Handle data breach incidents and implement data protection strategies.Information Security Risk Management

The company has developed an IT emergency response policy classifying IT risks into three

categories based on cause and impact severity:

Category 1 incidents Vulnerability

Category 2 incidents Data Breach Patches in

Category 3 incidents

Standardized procedures ensure timely and targeted incident resolution. To strengthen overall Incidents: 0 2024: 28

cybersecurity and ensure stable system operations LUSTER established a Cybersecurity

Leadership Team responsible for planning guiding and overseeing cybersecurity initiatives.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Information Security Awareness Campaigns Privacy Protection

Privacy protection is critical not only for compliance with laws and regulations but also for maintaining corporate

To strengthen employees’ information security reputation customer trust operational security and sustainable development. By safeguarding privacy LUSTER

awareness and standardize practices LUSTER prevents data breaches mitigates legal and financial risks and strengthens confidence among customers and partners

conducted information security training in 2024. thereby enhancing its market competitiveness. To achieve this the company employs a multifaceted approach

Tailored to real-world issues and key risks faced by combining information classification technical encryption and secure storage protocols to protect both corporate and

the company the t ra in ing a imed to enhance customer privacy from infringement.employees’ knowledge of information security

heighten their sensitivity to potential threats and Information

reduce unforeseen security risks. These efforts Information Storage Area Classification Management Management Sharing

fostered a robust information security culture within

the organization. * Company information is * The IT department oversees

categorized into four the management of * Key areas are secured with * A unified information-

levels based on information systems devices access control systems sharing policy governs

Information importance and storage equipment. prohibiting unauthorized access to all application

Security confidentiality and * All departments adhere to external personnel from entry. systems with permissions

Risk Awareness Network Security potential impact. standardized storage access * Non-employees are barred managed by system

Measures * Different levels are protocols. from entering critical areas administrators.assigned distinct access * Employees are prohibited without an invitation for a * A centralized document-

Data Protection permissions. from processing trade secrets visit. sharing platform established

Measures * Documents at each level on personal computers. * The Administrative by the IT department assigns

Identity Verification are marked with specific * R&D personnel’s computers Management Department access based on departmental

and Access Control watermarks and subject to are network-isolated. oversees office spaces and confidentiality levels.unified archiving * Devices and storage key areas implementing

Mobile Device and * Shared information is requirements. equipment used by senior specific management

Office Security restricted by permissions * Highly confidential management are subject to measures and requirements.Emergency corresponding to its materials require specialized controls by the IT

Response confidentiality level.approval and department.desensitization before

Laws Regulations being shared with

and Compliance unauthorized departments

or individuals.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World! Table of Introd ESG

Contents uction Management Social

Governance Environmental

Governance Corporate Shareholder Compliance Governance Rights Protection Management

2024 Environmental Social and Governance (ESG) ReportKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Corporate Governance Governance Structure

LUSTER LightTech Co. Ltd. (LUSTER) strictly adheres to the Company Law

Securities Law Shanghai Stock Exchange Science and Technology Innovation Board

Listing Rules and other relevant laws and regulatory requirements. By integrating these Strategic and General Meeting of Supervisory Sustainable

standards with our specific circumstances we have established a robust governance Shareholders CommitteeDevelopment（ESG）

structure comprising the General Meeting of Shareholders the Board of Directors the Committee

Supervisory Committee and the Management Team—collectively referred to as the

"Three Meetings and One Layer" framework. Through continuous refinement of this Audit Committee

governance architecture and the enhancement of checks and balances LUSTER ensures Board of Directors

the scientific rigor of its decision-making processes.In 2024 in accordance with applicable laws and regulations the company further Nomination Committee

strengthened its governance system by updating the operational guidelines for the

Board’s specialized committees and revising management measures for external

guarantees related-party transactions and other matters. Additionally we clarified Compensation and

protocols for information collection and management across internal departments and Evaluation Committee

subsidiaries ensuring that all information materially affecting the trading prices of the Management Team

company’s stocks and derivatives is disclosed in a truthful accurate complete timely

and fair manner. These efforts enhance the transparency and quality of our information

disclosures safeguarding the rights and interests of shareholders and other stakeholders.Procedures for Related-Party Transactions

* When the General Meeting of Shareholders deliberates on related-party

transactions related shareholders are required to recuse themselves and abstain

General Meeting Board of Supervisory from voting.of Shareholders Directors Committee

2 11 * The recusal and voting procedures for related shareholders are announced by the Meetings Held: Meetings Held: Meetings Held: 9 meeting’s presiding officer and documented in the meeting minutes.

* Resolutions on related-party transactions must be approved by a majority of

Resolutions Passed 14 Resolutions Passed 55 Resolutions Passed 39 voting rights held by non-related shareholders present at the General Meeting to

be effective.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Board of Directors Independent Director Engagement in Decision-Making

LUSTER strictly adheres to the director appointment and selection rules outlined in

the Company Law and the Articles of Association. The size and composition of the In 2024 independent directors participated in 100% of the Board’s resolutions providing

Board of Directors comply with applicable laws regulations and the Articles of independent opinions on 17 key proposals. These included critical matters such as:

Association ensuring that directors—particularly external and independent * Proposal on Confirming the 2023 Actual and 2024 Estimated Amounts for Routine Related-

directors—actively contribute to decision-making. By upholding principles of Party Transactions

diversity and independence LUSTER minimizes potential conflicts of interest that * Proposal on Changing the Purpose of Share Repurchasing Cancellation and Reducing Registered Capital

could affect judgment. * Proposal on the Fourth Share Repurchase Plan via Centralized Bidding

Independence * Proposal on the 2024 Plan for Issuing A-Shares to Specific Entities

Independent directors played a pivotal role in the company’s operations and decision-making

* In 2024 LUSTER clarified in the Independent Director External contributing significant expertise and oversight.Work System that independent directors may serve on the

boards of no more than three domestically listed companies. Directors: 56% Specialized Committees Executive Compensation Policy

of the Board

* Directors are required to have no affiliations with the

company its subsidiaries controlling entities major The Board oversees four specialized committees: the For internal directors compensation is

shareholders or their relatives. Independent Audit Committee the Strategic and Sustainable closely tied to the economic environment

Directors: 33% Deve lopme n t C o mmi t t e e t h e N o mi n a t i o n

* The conveners of the Audit Committee Nomination Committee and the Compensation and Evaluation

company performance and individual

evaluations. Annual compensation levels

Committee and Compensation and Evaluation Committee of the Board Committee. These committees report to the Board

are all independent directors. assisting in corporate governance by fulfilling

are assessed and adjusted based on thesesupervisory and deliberative responsibilities and factors. LUSTER adopts a “base salary +Diversity p r o v i d i n g s c i e n t i f i c a n d p r o f e s s i o n a llong-term incentives” structure fostering a

recommendations to inform Board decisions. shared interest and risk-bearing alignment

b e t w e e n s h a r e h o l d e r s a n d c o r e

11% management.

22% Audit Committee:

11% 22% 33% Convened 10 times Details of director supervisor and

45%

Compensation Committee: executive compensation for the reporting

11%

2 period are provided in Chapter Four of the Convened times

78% 2024 Annua l Repor t on Corpora t e

22% 45% Strategic Committee: Governance.

营Mar销keting 研R&发D 投Inv资estment 法Leg律al 财Fin会ance & Accounting 5U0nd岁er 50以下 5500-6-060岁 6Ov0er岁 60以上 女Fem性 男性 Convened 2 timeale MaleKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Shareholder Rights Protection Investor Relations

LUSTER LightTech Co. Ltd. (LUSTER) is committed to safeguarding the LUSTER advocates for diverse and inclusive engagement with investors. Through

rights and interests of all shareholders. In 2024 we enhanced shareholder performance briefings specialized meetings roadshows teleconferences and other

protection through multiple initiatives including improving the quality of channels we maintain open and equitable communication with institutional and

external disclosures expanding voluntary disclosure scope strengthening individual investors. These interactions provide timely updates on the company’s latest

investor relations engagement and strategically employing share repurchasing developments and address investor inquiries regarding strategy operations finance

and cancellation as part of our market value management efforts to protect and investment priorities.investors’ interests.Roadshows

Information Disclosure

On-Site

LUSTER con t inuous l y i m proves t he qua l i t y and General Visits

transparency of its information disclosures. In 2024 we Meetings of Shareholders

updated key policies including the Internal Reporting Large-

System for Material Information and the Information Scale

Disclosure Management Measures. These updates refined Investor

i n t e rna l i n fo rma t ion t r ansmiss ion p rocesse s and Investor

strengthened the review mechanisms for critical information. In 2024 LUSTER Events: 7 Briefings

We clearly defined the scope of authority confidentiality released: Performance sessions

pro t oco l s and ope ra t i ona l m echan i sm s f o r c o r e Briefings

information—such as key financial data proprietary Periodic Reports: 4

technologies and product achievements—that significantly Small-Ad Hoc Announcements:

impacts the company’s stock price. These measures ensure Scale

that external disclosures are timely accurate truthful and 96 Investor E-

complete. Interaction Interaction Investor

s: 51 Platform Hotline

Beyond mandatory disclosures LUSTER expanded its disclosure dimensions. Building on 2023 Acquisition- sessions Responses:

efforts we voluntarily disclosed the listing of our investee company Changbudao on the New Focused 117 replies

Third Board maintaining continuity consistency and completeness in our disclosures. In early Discussions

2024 responding to the “Quality Enhancement Efficiency Improvement and Return-Focused”

initiative LUSTER presented its 2023 performance in operations technological innovation

financial management investor engagement and shareholder returns through engaging visual One-on-One Email

and textual formats. This content alongside our ESG report was disclosed in both Chinese and Communicat Corresponde

English to enhance readability and accessibility. ions nceE-

Interaction

ResponsesKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Investor Returns

January 23 2024: Completed the first repurchasing acquiring 2.52 million

Consistent Dividends Sharing the Fruits of Growth shares (0.54% of total share capital) with funds totaling RMB 60 million.LUSTER places a high priority on delivering returns to its investors. Since its August 13 2024: Completed the second repurchasing acquiring 3.48 million

listing the company has consistently distributed cash dividends with the shares (0.75% of total share capital) with funds totaling RMB 59.99 million.combined proportion of dividends and share repurchasing exceeding 30% of net

profit attributable to shareholders in each respective year. Through these tangible

actions LUSTER demonstrates its commitment to rewarding investors. November 27 2024: Completed the third repurchasing acquiring 2.56 million shares (0.55% of total share capital) with funds totaling RMB 59.98 million.

153%

November 28 2024: The Board of Directors approved the Proposal on the

Fourth Share Repurchasing Plan via Centralized Bidding initiating the fourth

repurchasing program.

31%31%

Cancellation Share Cancellation: Enhancing Shareholder Value

202220232024

Share

Repurchasing Four Initiatives Reflecting Strategic Vision Total Share Capital: After Cancellation:

In 2024 LUSTER successfully executed three share repurchasing programs and Before Cancellation: 460.98 million

initiated a fourth reflecting its forward-looking vision. These initiatives not only 463.50 shares million shares

demonstrate the company’s commitment to enhancing shareholder value but also

support employee stock ownership plans and equity incentive programs. By fostering To demonstrate its resolute commitment to stabilizing stock prices and boosting

a culture of ownership these programs ignite innovation across the organization shareholder confidence LUSTER passed a resolution on November 27 2024 to

creating enduring value for both the company and its stakeholders. amend the purpose of the 2.52 million shares repurchased in the first program.The original intent of allocating these shares to “employee stock ownership plansRepurchasing Overview as of 2024: Total Funds or equity incentives” was changed to “cancellation thereby reducing theUtilized: RMB company’s registered capital.”

Total Shares Repurchased: 8.57 million 180 million

This strategic decision optimizes the capital structure increases per-share value and

creates greater long-term value for shareholders.Proportion of Dividends

and Repurchasing to Net

Profit Attributable to

Shareholders:Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Compliance Management

Integrity and Anti-Corruption

LUSTER steadfastly adheres to relevant anti-corruption and anti-bribery regulations. To this Investigations Audits of Integrity and into customer

end the company has established a series of policies including the LUSTER LightTech research and Compliance service Culture

Employee Code of Business Conduct LUSTER LightTech BCG Accountability System for development Investigations into expenses

Compliance with Economic Issues Sunshine Value Procurement Code of Conduct and 46 candidates

Regulations on Employees Surrendering Illegally Obtained Financial Gains to the Company. proposed for

These policies are designed to regulate and oversee the behavior of employees management executive Investigations

into

and suppliers ensuring ethical and compliant operations. appointmentsEconomic procurement

responsibility fraud

The Audit and Legal Department serves as the primary body responsible for internal audit audits

functions. Its work is divided into six key areas: operational audits listed company compliance

audits internal audit system development fraud investigations oversight of executive

appointments and authority and anti-fraud mechanism establishment. These efforts Integrity

collectively safeguard the company’s healthy and compliant development. Training

Operational Listed Company Internal Audit Fraud Oversight of Executive Anti-Fraud

Audits Compliance System Investigations Appointments and Authority Mechanisms The company conducts targeted training for

employees in sensitive positions. For instance a

training session was held for 28 key members of

* Conduct specialized * Audit and evaluate * Develop and * Conduct targeted * Supervise * Enhance the audits in high-risk significant external the Suzhou Taihu Base project focusing on refine internal investigations into executive conduct complaint and areas to assess investments audit management fraud allegations and collect whistleblowing integrity and compliance. The session covered operational guarantees related- policies and or clues identified feedback during platform.efficiency party transactions workflows to the selection and * Promote the compliance policy education and case studies of

effectiveness and during business and other matters ensure audit appointment implementation of

compliance audits. For cases violations to clearly delineate boundaries and collaborating with quality and process. anti-fraud

providing involving judicial external audit standardize audit proceedings * Investigate and measures within reinforce red lines.actionable audit institutions to practices. cooperate with verify reports business recommendations. ensure compliance concerning operations.* Perform economic legal processes as with listing executives’ * Conduct In 2024 the company organized integrity and

responsibility audits required.regulations. ethical conduct awareness

and exit audits for compliance culture training for new employees addressing campaigns onkey management unqualified professional and grassroots management themed “Building apositions. candidates ethics

through occupational Thriving Business with Integrity as the Foundationimpeachment crimes and anti- Drawing Red Lines for Compliance.” This

processes. fraud policies. initiative reached 204 participants fostering a

robust culture of ethical conduct and compliance.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Anti-Corruption Whistleblowing

In accordance with the Notice on Handling Whistleblowing Matters LUSTER encourages employees to report instances of corruption bribery or other non-compliant behaviors grounded in factual evidence and guided by applicable laws and regulations. By establishing a clear boundary of “building a thriving businesswith integrity as the foundation” the company enforces strict processes and guidelines to regulate the commercial conduct of all employees enhance their ability to

uphold integrity and self-discipline and foster a culture of vigilance to prevent minor issues from escalating.Whistleblowing Channels

Whistleblowing Requirements

The company provides three distinct Eligible Whistleblowers: Current or former * Reports must be factual and the clues or

whistleblowing channels to facilitate employees their family members or friends evidence provided by the whistleblower must

reporting of non-compliant behaviors: suppliers customers or other stakeholders be truthful.whose actions violate regulations or may harm * Real-name reporting is encouraged in

Whistleblowing Hotline: 178XXXX22XX the company’s interests. principle. Anonymous reports are permitted

Whistleblowing Email: audit@lusterinc.com provided the evidence is sufficiently robust.Whistleblowing Address: Audit and Scope of Reportable Matters: Behaviors * Whistleblowers must ensure that investigators

Supervision Department Knowledge Reason suspected of violating laws regulations or can contact them.Building No. 7 13 Cuihunan Ring Road company policies that harm or may harm the * Reports must not fabricate or exaggerate facts.Haidian District Beijing company’s interests including but not limited Malicious reporting or false accusations once

to embezzlement soliciting or accepting bribes verified will be dealt with severely.disclosing trade secrets unfair competition or

misappropriation of funds.Protection for Whistleblowers

* The company strictly maintains the confidentiality of whistleblowers’ identities and the materials they provide prohibiting disclosure to the accused or any

unrelated third parties.* Any form of retaliation against whistleblowers is strictly prohibited. The company will impose severe penalties on those engaging in retaliatory actions.* Employees who voluntarily and truthfully report their own violations may receive lenient or mitigated penalties.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Anti-Unfair Competition

In addition to rigorously regulating employee conduct in anti-corruption and anti-briberyefforts LUSTER adheres strictly to legal boundaries in its commercial practices ensuring According to the “Beijing Municipal Tax Service Statecompliance with applicable laws and regulations. The company has consistently Taxation Administration Electronic Tax Bureau” LUSTER was

leveraged its core technologies as a key differentiator securing competitive advantages rated as an A-level taxpayer for the 2023 tax year.through continuous innovation and efficiency improvements while rejecting unethical

tactics. In the realm of trademarks and patents LUSTER not only fortifies defenses

against external infringements on its own rights but also takes care to avoid violating the

intellectual property of others thereby safeguarding both its own and others’ legitimate * Regularly conduct comprehensive reviews of tax-related

interests. Strengthening operations to identify potential tax risk points.Tax Risk * Perform in-depth evaluations and analyses of identified tax risks

no incidents Identification determining their severity likelihood and potential impact.In 2024 occurred and * Propose solutions for identified risks and implement improved

involving unfair competition practices that Assessment processes accordingly.infringed upon the rights of other enterprises.* Establish a tax risk assessment framework to accurately identify

Implementing potential tax risks across various business activities and formulate

Tax Compliance Tax Risk response strategies based on findings.* Periodically review the authenticity completeness and legality of

LUSTER is committed to strict adherence to tax-related laws and regulations creating Assessment and Tax tax-related documents with a focus on examining tax returns annual

social value through diligent fulfillment of its tax obligations. The company maintains an Audits tax reconciliation reports and other materials to prevent errors

internal professional tax team and engages external expert consultants to provide omissions or concealment thereby mitigating tax-related risks.guidance. It actively manages reviews and reports tax changes across its legal entities

studies and evaluates the impact of new tax regulations and strengthens its tax

compliance capabilities.Enhancing * Promote continuous learning of tax laws regulations and policies

Training and among tax personnel to ensure their professionalism.The company places a strong emphasis on tax risk management by establishing Management

comprehensive tax management policies that clearly define tax processing workflows of Tax * Conduct regular training and assessments for tax personnel to

responsibilities and approval authorities thereby standardizing tax operations. Personnel enhance their expertise and risk awareness.Additionally LUSTER conducts thorough reviews of tax-related activities deeply

assesses potential risks and mitigates vulnerabilities by optimizing processes.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Strengthening Risk Management

LUSTER strictly complies with national laws and regulations conducting annual assessments of risks related to strategy market operations compliance and information

security. The company adjusts its risk prevention measures based on its development objectives and the evolving market environment ensuring effective control of critical risks.Risk Categories Risk Items Risk Management Measures

Strategic Risks Alignment of strategic objectives with * Continuously monitor the macroeconomic environment market trends and policy directions to assess challenges and opportunities

the current environment dynamically adjusting the company’s strategic direction market demands and core technology/product development pathways.Imperfect governance structures * Refine the corporate governance structure to fully leverage the scientific decision-making roles of the board of directors board of

supervisors shareholders’ meeting and management while prioritizing shareholder rights protection.Supply chain risks * Strengthen closed-loop supply chain management by enhancing the quality and efficiency of supplier development evaluation auditing

and improvement processes.Operational * Invest in mergers acquisitions and internal R&D to secure upstream supply chain stability for core components.Risks

New technology development risks * Expand engagement with market and industry insights dynamically adjusting technology development strategies accordingly.Product quality risks * Establish a full-lifecycle quality management system regularly assess quality risks and promote continuous closed-loop quality

management.Key employee turnover risks * Foster a fair diverse and inclusive work environment offering attractive long-term and short-term compensation and incentive

programs.Occupational health risks * Prioritize employee physical and mental well-being through regular occupational health checks and free medical

consultations.Implement regular inspections of office and production areas to identify and mitigate health hazards

Environmental pollution risks * Standardize emissions of wastewater waste and exhaust gases and adopt measures to reduce pollutant emissions.Compliance Internal control risks * Develop a comprehensive internal control system to address all internal control risk points.Risks

Business ethics risks * Enforce policies such as the Trade Secrets Protection Policy Employee Handbook and Sunshine Procurement Agreement to regulate

the conduct of employees suppliers and other stakeholders regarding trade secrets.Intellectual property risks * Build a robust intellectual property protection system strengthening investigation research and safeguards throughout the IP lifecycle.Information Data security risks * Establish targeted measures to address data security risks expand information security training and enhance company-wide awareness

Security Risks of information protection.Privacy protection risks * Implement an information classification system for critical data and documents setting hierarchical access permissions that require

unified approval for access beyond designated scopes.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World! Table of Introd ESG

uction Management Social Governance EnvironmentalContents

Environmental

Climate Change

Pollution Emissions

Environmental Management

Green Factory Development

2024 Environmental Social and Governance ReportKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Climate Change

Global warming poses a shared challenge for humanity worldwide. While LUSTER primarily drives its operations through technological innovation and is not classified

as a high-emission or high-pollution enterprise we remain steadfast in our commitment to green and low-carbon principles. We actively optimize our energy mix

expand the use of renewable energy equipment across diverse applications and implement electricity- and energy-saving measures to enhance the efficiency of existing

non-replaceable non-renewable energy sources. To this end LUSTER has issued the Proposal on ESG Energy Conservation and Emission Reduction responding to

environmental imperatives reducing resource waste and fostering a greener more sustainable workplace.Optimizing Our Energy Mix Enhancing Energy Efficiency

Harnessing Transitioning

Renewable from High to Low Water Conservation Water Conservation Paper Conservation

Energy Energy

Consumption

* At our Suzhou facility we

have installed rooftop Water Resources

photovoltaic panels to bolster * We conduct regular inspections across all areas to promptly address instances of water waste.the adoption of renewable * Departments are instructed to immediately report burst pipes or leaks to facility management for swift resolution.energy. * We promote intermittent water use and have moderately reduced the number of water dispensers in work areas based

* In recent years we have on per capita drinking water proximity optimizing resource allocation.prioritized the procurement Electricity Resources

of new energy vehicles * Lighting is managed with a “lights-off-when-leaving” policy and localized tasks are supported by targeted

(NEVs) increasing their illumination to minimize waste.utilization frequency in daily * Unused equipment and appliances are powered down promptly with power switches verified after work hours.operations. * Routine equipment maintenance and electrical system upkeep are prioritized to reduce energy consumption.* In office areas we have Paper Resources

deployed energy-saving * Previews are required before printing or copying to prevent waste from errors.power strips to reduce * We advocate for paperless operations leveraging modern digital tools to replace paper-based processes.electricity consumption. * Non-confidential paper and documents are collected and stored in designated recycling zones for double-sided reuse.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Climate Change Risk Management High Temperature and Heatstroke

Extreme climate variations pose challenges to LUSTER LightTech Co. Ltd. (LUSTER)’s normal production and To align with occupational health and safety management

operations. To enhance our resilience against such conditions we have established the Flood Prevention and Response standards address potential heat-related risks ensure

Plan and the High Temperature and Heatstroke Emergency Plan. These measures standardize our response to employee safety clarify emergency procedures and

exceptional weather events minimizing disruptions to business operations and safeguarding employee well-being. enable orderly first-aid responses LUSTER has developed the High Temperature and Heatstroke Emergency Plan.We conduct targeted drills focusing on first-aid procedures

Flood Prevention and Response outlined in this plan.Relocation

In cases of severe The warehouse supervisor organizes on-site personnel to swiftly

Timely During flood seasons Regular checks on rain causing move heatstroke-affected employees to a ventilated shaded area

dissemin personnel are stormwater laying them flat with their head elevated and loosening their

ation of assigned to 24-hour discharge pumps to

drainage issues

clothing and cuffs

weather shifts to inspect identify and rectify

temporary barriers

alerts drainage systems and equipment defects

are constructed at

risk points to prevent Coolingpump pits promptly backflow Apply a wet towel to the patient’s head and use cold water to wipe

down their body to expedite heat dissipation avoiding direct

airflow to prevent colds

Level 3 Warning: 6- Level 2 Warning: 3- Level 1 Warning: 3-hour

Hydration

hour rainfall exceeds 50 hour rainfall exceeds 50 rainfall exceeds 100 mm or has If the affected individual is conscious and free of nausea or

mm leading to rapid mm causing a sharp rise reached 100 mm and may persist vomiting provide salted soda water to reduce body temperature

flooding due to narrow in flood levels due to potentially triggering flash and replenish blood volume

river channels constrained waterways floods or dam failures

Revival

For unconscious patients stimulate acupoints such as Renzhong

* Level 3 State: Duty personnel inspect drainage facilities water diversion equipment and Hegu to aid recovery. If breathing ceases perform artificial

and flood discharge systems respiration immediately

* Level 2 State: In scenarios where severe weather threatens construction activities Transfer

affected departments are urged to anticipate accidents. For significant risks an

emergency team is formed to activate corresponding response plans Severe heatstroke cases require prompt medical transfer. During

* Level 1 State: The Administrative Management Department conducts risk assessments transport continue physical cooling measures such as head cold

for potential threats posed by extreme weather compresses or alcohol wipes until the skin reddens to protect

vital organs like the brain heart and lungs

Response Measures Monitoring and Early Warning

Responses are Hazard

categorized into Warning Levels Monitoring

three tiers based on

incident severity:Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Pollution Prevention and Emissions Management

LUSTER strictly adheres to the Water Pollution Prevention and Control Law of the People’s Republic of China Environmental Noise Pollution Prevention and Control

Law of the People’s Republic of China Solid Waste Pollution Prevention and Control Law of the People’s Republic of China and the New Environmental Protection Law

among other relevant laws and regulations. In line with our business operations we have established a suite of internal policies to ensure effective environmental

stewardship and resource utilization. These include the Resource and Energy Management System Waste Gas Wastewater and Noise Management System Waste

Management Regulations and Chemical Management Regulations.Wastewater Waste Gas and Noise Management

Wastewater Waste Gas

Management Noise ManagementManagement

* Noise sources include equipment such as drilling

* LUSTER generates no industrial wastewater only * Waste gas a t LUSTER originates f rom

welding processes in our cleanroom facilities. machines lathes grinders air compressors and domestic wastewater. All relevant departments are

Fumes generated during welding are captured welding exhaust purifiers. LUSTER prioritizes encouraged to minimize or avoid the use of facilities

by a gas collection system filtered through the selection of low-noise equipment to mitigate and equipment that produce sewage wherever

possible. activated carbon adsorption and discharged.impact.* The Manufacturing Department oversees daily

* Wastewater concentration is monitored annually by a Used activated carbon is handed over to a

qualified third-party agency coordinated by the certified waste handler for proper disposal.operations and regular maintenance of this

Administrative Management Department. Final * For unorganized emissions from production

equipment following operational manuals or

discharge points for stormwater and sewage are workshops we enhance ventilation and air

work instructions.* High-noise equipment is fitted with soundproof

clearly marked with signage. exchange measures.* Should wastewater discharge exceed regulatory * Annually we test for hazardous air pollutants

enclosures to reduce emissions.* Noise levels inside and outside workshops are

s t anda rds t he Admin i s t r a t i ve M anagem en t o u t s i d e o u r w o r k s h o p s . I f e m i s s i o n

concentrations exceed standards relevant monitored annually for hazardous factors. If Department reports the issue to the Deputy General levels exceed standards relevant departments

Manager and convenes relevant departments for departments are mobilized to analyze and

analysis and remediation until compliance is achieved. address the issue until compliance is restored.are convened to analyze and resolve the issue

until compliance is met.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Waste Management

To ensure effective waste classification and disposal achieve compliance and adaptability in waste

handling and prevent secondary environmental pollution and resource waste LUSTER has established

the Waste Management System. This framework aims to mitigate environmental pollution and promote Total Waste Generated in 2024:

resource recovery. 3.04 Metric Tons

Administrative

Management Department: All Departments: Human Resources

Responsible for Tasked with waste Department: Year-on-Year Change: 19%

formulating and classification Coordinates waste reduction compared to 2023 (3.75

overseeing waste collection and classification and

classification and disposal transport operations recycling training for Metric Tons)

procedures all departments

Generation and Classification Transport Final Disposal

W a s t e g e n e r a t e d f r o m v a r i o u s

operational activities is sorted by Waste from temporary storage areas Non-recyclable waste is collected and

ac t iv i ty pe r sonne l a cco rd ing t o is transferred by responsible units to appropriately disposed of by certified

designated classification and disposal the was t e s t o r age f ac i l i t y fo r waste handlers in compliance with

procedures and stored temporarily in categorized storage legal requirements

each unit’s designated area

Hazardous waste generated from Handed over to the Administrative The Administrative Management

operational act ivi t ies is properly M a n a g e m e n t D e p a r t m e n t f o r Department coordinates with certified

classified by activity personnel temporary storage and recorded in handlers for transfer and disposal

the Hazardous Waste Transfer Log completing the Five-Part Form on the

designated platform

Oversight and Measurement Corrective and Preventive Actions

Recyclable Waste Non-Recyclable WasteKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Environmental Management

Environmental Management System Emergency Preparedness for Environmental Incidents

Three subsidiaries under LUSTER LightTech Co. Ltd. To uphold the principles outlined in the Environmental Protection Law of the People’s Republic of China—which

(LUSTER)—namely Lingyun Photonics Technology emphasize "prioritizing protection focusing on prevention comprehensive governance public participation and

Co. Ltd. Lingyun Vision Intelligent Equipment Co. accountability for damage"—and to implement environmental regulations effectively LUSTER has developed the

Ltd. and Suzhou Lingyun Photonics Industrial Environmental Safety Hazard Identification and Mitigation System. This framework aims to minimize

Intelligence Technology Co. Ltd.—have achieved environmental pollution from sudden incidents prevent various environmental risks and address the specific

environmental certification with their management conditions of our operations.systems compliant with ISO 14001:2015 standards. Collaborative Seasonal Professional

Within the company we have establ ished the Inspection Daily Inspection Inspection Inspection

Environmental Management and Protection System

and the Off i c e E nv i r onm e n t a l Ma na ge m e n t For locations and facilities identified as major environmental risk sources we enforce the following measures:

Regulations to govern environment-related practices * Establish major hazard archives

systematically. * Guarantee adequate funding for safety management and monitoring of major risk sources maintaining necessary

emergency response equipment and materials and conducting regular testing and assessments

* Establish and refine safety management policies for major risk sources assigning clear responsibilities and developing

detailed implementation plans for safety oversight and monitoring

* Provide targeted skills training for personnel working in areas with major risk sources to enhance their safety awareness

and incident-handling capabilities

* Install prominent warning signs in highly visible locations at relevant sites

* Conduct periodic specialized inspections of major risk sources by production managers technical experts and other

relevant staff maintaining detailed records

* Formulate and refine emergency response plans for major risk sources conducting regular drills

* Maintain detailed hazard archives for environmental safety risks that cannot be immediately rectified including

distribution maps likelihood and impact assessments and records of mitigation and monitoring measuresKnowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Green Factory Development Aesthetic and Quality Design Principles Green Ecology Sustainability and

Principle: Pursue excellence in quality and Maintainability

The Taihu Industrial Base project for Industrial Artificial Intelligence currently aesthetic value enhancing the base’s overall appeal Principle: Embrace simplicity and natural

under construction by LUSTER embodies a design philosophy centered on through green landscapes positioning it as a city’s aesthetics prioritizing environmental green landmark that showcases the beauty of

harmonious coexistence between humanity and nature as well as the synergy of sustainability and resource efficiency while human-nature harmony. maintaining cohesive visual harmony.human progress and technology. The core of the Taihu Base’s master plan lies in Objective: Foster a sense of belonging and Objective: Select low-maintenance cost-

crafting a seamless experiential journey—from the open culturally vibrant satisfaction among clients and employees effective plant species to ensure long-term demonstrating respect for customers and visitors

outdoor spaces to the introspective and communal indoor environments. Outdoor stable greening outcomes championing a green through meticulous attention to detail. lifestyle.areas inspire exploration while indoor spaces foster reflection and collaboration.This design not only enhances the aesthetic environment but also strengthens the

bond between people and nature boosting employee well-being and productivity The Taihu Base is projected to achieve a greening coverage rate of 12.63%

while evoking the uplifting vitality of the natural world. approximately 5000 square meters with a per capita green area of nearly 2.12

Within the base an organic vegetable garden has been established utilizing square meters (based on an estimated 2500 occupants). Water features will

modern soilless cultivation techniques and energy-efficient drip irrigation account for 2.17% of the area. The ideal plan includes 141 plant varieties

systems to ensure organic pollution-free produce. This garden redefines the encompassing trees shrubs herbs flowers and organic vegetables and fruits.harmony between technology and nature serving as both a source of nourishment LUSTER invites all employees to nurture this vibrant land through a voluntary

and a visual delight. Every plant radiates vitality underscoring the dual values of tree adoption program. This initiative encourages every employee to contribute to

healthy living and environmental stewardship. It stands as a modern oasis where the purchase and maintenance of plants fostering a dynamic and thriving

intelligence and nature converge seamlessly. workplace. Through participation employees can experience creativity joy pride

and a deep sense of belonging.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Taihu Base: A Beacon of Sustainability

Outdoor Viewing System

The design harmoniously blends Eastern and

Western flora to offer visitors an immersive

experience of nature’s beauty. By showcasing the

distinctive characteristics of plants from both

international and domestic origins we underscore

the universal harmony and beauty of global unity

while fostering cross-cultural exchange and Corridor of Light Valley of Light

understanding. The open outdoor area serves as a

venue for dialogue between Eastern and Western

civilizations inviting visitors to engage with

cultural interplay in a natural setting. Enterprise + Architecture

+ LandscapeIn

Harmonious

Integration

Zone A: 13 Floors

Indoor Viewing System Zone B: 1 Floor (Greenery from 7F to 19F)

Centered around an intelligent botanical garden

this space is crafted to inspire joy uplift spirits

Zone C: 2 Floors

and spark workplace creativity. By engaging the (Greenery on 2F and

five senses—sight sound smell taste and Zone B: 1 Floor 5F)(Greenery on 5F)

touch—it evokes a profound appreciation for the

wisdom of plants. This environment encourages

employees and visitors to reconnect with their

inner selves experiencing the vitali ty and

creativity of nature in a deeply meaningful way. Garden of Light Source of Light

West Meets EastKnowledge and Reasons are Our Introduction ESG Management Social Governance Enviro7nmental

Arms to Embrace the World!

Energy Efficiency: Building a Green Campus

Throughout the dynamic construction of the Taihu Base LUSTER embeds energy conservation as a guiding principle striving to create a modern green and low-carbon

industrial campus.From the outset energy efficiency informs the planning process:

Buildings are strategically arranged to maximize natural lighting and ventilation reducing reliance on artificial lighting and air conditioning.Rooftop photovoltaic panels and solar water heating systems are installed to enhance the adoption and utilization of renewable energy.A higher proportion of energy- and water-saving equipment is incorporated.In material selection preference is given to eco-friendly high-performance insulation materials to minimize energy loss. During construction energy consumption is

rigorously controlled through optimized scheduling streamlined processes and the use of high-efficiency energy-saving machinery to reduce energy use.Per the Jiangsu Province Based on the current construction Based on the current construction Per the Renewable Energy Utilization Based on the current construction

Green Design Review Form plan: plan: Assessment: plan:

for Civil Building Design: * The Taihu Base features a rooftop * The project includes 857 * Independent public restrooms and * LUSTER will develop a water

* The Taihu Industrial Base photovoltaic array covering 1970 parking spaces with 380 scattered washbasins rely on small resource utilization strategy to

project qualifies as a Class square meters with an installed above ground and 477 electric water heaters rather than optimize the use of various water

A building for energy capacity of approximately 200 underground. centralized systems. The cafeteria sources.efficiency. kW. * Electric vehicle charging employs a solar-powered forced- * Outdoor landscape water bodies

* Energy Efficiency Level: * Upon completion the solar stations located in the circulation indirect heating will utilize rainwater to offset

72% photovoltaic system is expected to underground garage provide system for all-day hot water supply. over 60% of evaporation losses

* Green Building Rating generate 386316 kWh annually 86 spaces representing 10% * The solar water heating system is incorporating ecological water

Target: Two-Star accounting for 3.92% of the of total parking spaces. projected to produce 7200 cubic treatment technologies to

building’s total energy meters of hot water annually maintain water quality.consumption. accounting for 20% of hot water

usage.Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Appendix I: Key Performance Data Waste Diversion from Disposal

Business Performance Metrics Key Performance Indicator Unit 2022 2023 2024

Key Performance Indicator Unit 2022 2023 2024 Hazardous Waste Recycled/Reused Metric Tons 0 0 0

Direct Economic Value Million CNY 2749 2641 2234 Hazardous Waste Prepared for Reuse Metric Tons 0 0 0

Total Assets Million CNY 5014 5085 5459 Hazardous Waste Diverted for Recycling Metric Tons 0 0 0Non-Hazardous Waste Recycled/Reused Metric Tons 1.50 3.56 2.80

Cash Dividends (incl. Buybacks) Million CNY 58 50 164 Non-Hazardous Waste Prepared for Reuse Metric Tons 0 0 0

(Buybacks + bonus) / Revenue Million CNY 31% 31% 153% Non-Hazardous Waste Diverted for Recycling Metric Tons 1.50 3.56 2.80

Basic Earnings Per Share CNY/Share 0.46 0.35 0.23　 Waste Directed to Disposal

Environmental Performance Metrics Total Waste Directed to Disposal (incl.Diversion) Metric Tons 1.50 3.75 3.04Key Performance Indicator Unit 2022 2023 2024

Total Greenhouse Gas Emissions Hazardous Waste to Incineration (with Energy

(Production Facilities Only) Metric Tons CO2e 0 0 0 Recovery)

Metric Tons 0.003 0.19 0.24

Scope 1 Metric Tons CO2e 0 0 0 Hazardous Waste to Incineration (without Energy Recovery) Metric Tons 0 0 0

Scope 2 Metric Tons CO2e / / / Hazardous Waste to Landfill Metric Tons 0 0 0

Energy Consumption Non-Hazardous Waste to Disposal Metric Tons 0 0 0

Direct Energy Consumption Tons Standard Coal 147 127 154 Non-Hazardous Waste to Incineration (with

Gasoline Liters 22300　 26260　 28250　 Energy Recovery)

Metric Tons 0 0 0

Diesel GJ 0 0　 0　 Non-Hazardous Waste to Incineration (without

Energy Recovery) Metric Tons 0 0 0Natural Gas Cubic Meters 102040 81632　 102041

Indirect Energy Consumption Tons Standard Coal 312　 500　 481　 Non-Hazardous Waste to Landfill Metric Tons 0 0 0

Total Waste Generated (Production Water Resources

Facilities) Metric Tons 1.50 3.75 3.04 Total Water Withdrawal (Overall) Metric Tons 124500　 125000 118100　

Non-Hazardous Waste Metric Tons 1.50 3.56 2.80 Total Wastewater Discharge (Suzhou Factory) Metric Tons 5187 6206 6209

Paperboard Metric Tons 0.30 1.30 1 PH Dimensionles 7.4-7.5 7.4-7.5 8.1

Plastic Metric Tons 0.40 0.76 0.60 s

Pallets Metric Tons 0.80 1.50 1.20 Suspended Solids mg/L 24 38 9

Hazardous Solid Waste Metric Tons 0.003 0.19 0.24 CODcr mg/L 85 299 44

Ammonia Nitrogen mg/L 30.9 24.6 30.9

Waste Activated Carbon Filters Metric Tons 0.003 0.006 / Total Phosphorus mg/L 3.14 3.61 3.14

Waste Packaging Barrels Metric Tons / 0.01 0.006 Administrative Penalties for Wastewater

Waste Rags and Circuit Boards Metric Tons / 0.17 0.03 Discharge Count 0 0 0

Waste Cutting Fluid Metric Tons / / 0.20 Total Environmental Investment 10K CNY 9.6 9.6 4.4Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Social Performance Metrics Employees

Key Performance Indicator Unit 2022 2023 2024 Key Performance Indicator Unit 2022 2023 2024

Supply Chain Management Male Employees Persons 656 356 220

Total Key Suppliers Count 66 63 60 Female Employees Persons 145 60 48

Overseas Suppliers Count 240 240 151 Employees Over 40 Persons 39 21 17

Domestic Suppliers Count 1496 1496 1074 Employees Aged 31–40 (incl. 40) Persons 412 117 97

Service Suppliers Count 45 45 65 Employees 30 and Under (incl. 30) Persons 350 278 154

Raw Material Suppliers Count 1691 1691 1160 Doctoral Degree Holders Persons 9 0 2

Supplier Training Sessions Count 16 28 30 Master’s Degree Holders Persons 144 133 40

Supplier Audits Count 11 22 44 Bachelor’s Degree Holders Persons 377 144 137

Anti-Corruption Agreement Signing Rate % 48% 66% 90% Diploma and Below Persons 271 139 89

Safety Agreement Signing Rate % 43% 81% 90% Employee Turnover % 20.83% 22.17% 21.08%

Quality Management Male Turnover Rate % 21.83% 22.79% 21.49%

Product Recall Rate % 0 0 0 Female Turnover Rate % 17.11% 19.78% 19.41%Turnover Rate (Over 40) % 11.76% 21.33% 15.48%

Product Yield Rate (Standard Products) % 97.85% 98.82% 99.56% Turnover Rate (31–40) % 20.80% 19.27% 20.29%

Customer Satisfaction % 89% 90% 91% Turnover Rate (30 and Under) % 22.60% 26.64% 24.44%

Customer Complaint Resolution Rate % 100% 100% 100% Parental Leave

Quality Improvements Implemented Count 1650 1462 1446 Total Employees Taking Maternity/Paternity

Quality Issues Resolved Count 1435 1345 1.360 Leave Persons 80 107 133

Quality Issue Closure Rate % 87% 92% 94% Male Employees Taking Paternity Leave Persons 68 85 100

Employees Female Employees Taking Maternity Leave Persons 12 22 33

Employees Returning Post-Leave Persons 80 107 132

Total Employees Persons 2060 1981 1850 Male Employees Returning Post-Leave Persons 68 85 100

Male Employees Persons 1628 1584 1479 Female Employees Returning Post-Leave Persons 12 22 32

Female Employees Persons 432 397 371 Employee Health and Safety

Employees Over 40 Persons 148 199 179 Social Insurance Coverage % 100% 100% 100%

Employees Aged 31–40 (incl. 40) Persons 1069 1131 1035 Supplementary Medical Insurance Coverage % 100% 100% 100%

Employees 30 and Under (incl. 30) Persons 843 651 636 Work-Related Injuries Persons 0 0 5

Doctoral Degree Holders Persons 20 17 18 Work-Related Fatalities Persons 0 0 0

Master’s Degree Holders Persons 474 503 462 Employee Training

Bachelor’s Degree Holders Persons 932 829 791 Training Investment 10K CNY 131 188 234

Diploma and Below Persons 634 632 579 Total Training Hours Hours 26984 22946 23548

Total Employees Trained Persons 2534 2068 2459

New Hires Persons 801 416 268Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Key Performance Indicator Unit 2022 2023 2024 Key Performance Indicator Unit 2022 2023 2024

Online Participants Persons 2016 1443 1948 Special Committee Meetings Count 8 13 14

Offline Participants Persons 518 625 511 Number of Directors Persons 9 9 9

Senior Management Persons 5 12 24 Proportion of External Directors % 56% 56% 56%

Proportion of Independent Directors % 33% 33% 33%

Middle Management Persons 70 70 70 Number of Female Directors % 22% 22% 22%

General Employees Persons 1100+ 1500+ 1600+ Investor Relations

Newly Added Trainers in 2024 Persons 7 8 10 Large-Scale Public Briefings Count 2 3 3

Technological Innovation Small-Scale Investor Meetings Count 60+ 80+ 50+

R&D Investment Million CNY 376 460 450 Annual Investor Visitors Received Persons 800+ 600+ 550+

R&D Investment as % of Revenue % 14% 17% 20% Investor Hotline Response Rate % 100% 100% 100%

R&D Personnel Persons 829 777 735 E-Interaction Query Responses Count 78 159 117

R&D Personnel as % of Workforce % 40% 39% 40% Total Public Announcements Count 59 159 174　

Periodic Reports Disclosed Count 3 4 4

Doctoral Degree Holders % 1.57% 1.42% 1.63%

Ad Hoc Announcements Count 31　 79 96

Master’s Degree Holders % 39% 46% 44% Voluntary Disclosures Count 2 3 1　

Bachelor’s Degree and Below % 59% 53% 54% Anti-Corruption Governance and Training

New Patents Filed Count 115 199 181 Anti-Corruption Training Sessions Count / 6 4

Total Patents Accumulated Count 510 709 799 Employees Participating in Anti- Persons / 96 231

Invention Patents Accumulated Count 252 311 387 Corruption Training

Utility Model Patents Accumulated Count 218 344 381 Total Hours of Anti-Corruption Hours / 100 462

Design Patents Accumulated Count 40 54 31 Training

Software Copyrights Accumulated Count 232 263 288 Corruption Complaints Received Count / 3 2

Anti-Corruption Special Projects

Governance Key Performance Indicators Initiated Count / 2 1

Shareholders’ Meetings Count 2 4 2 Confirmed Corruption Incidents Count / 1 1

Board Meetings Count 7 9 11 Confirmed Corruption-Related Legal

Supervisory Board Meetings Count 6 9 9 Cases Count / 1 0Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

Appendix II: Indicator Index

Referenced

Indicators This report has been prepared in accordance with the GRI Standards: Core Option 2021 and the Shanghai Stock Exchange Guidelines on Self-Regulation for Listed Companies No. 14.GRI Standard Disclosure Item Report Section Page Index

2-1 Organizational Details About LUSTER LightTech 5

2-2 Entities Included in the Organization’s Sustainability Reporting About This Report 3

2-3 Reporting Period Frequency and Contact Point About This Report 3

2-4 Sources of Information About This Report 3

Innovation-Driven Development 21-23

2-6 Activities Value Chain and Other Business Relationships Product Responsibility 24-25

Supply Chain Responsibility 26-29

2-7 Employees Employee Responsibility 29-38

2-9 Governance Structure and Composition Corporate Governance 42

2-10 Nomination and Selection of the Highest Governance Body Corporate Governance 42-43

2-11 Chair of the Highest Governance Body Corporate Governance 　42-43

GRI 2: General 2-12 Oversight Role of the Highest Governance Body in Managing Impacts Corporate Governance 43

Disclosures 2021 2-13 Delegation of Responsibility for Managing Impacts Corporate Governance 42-43

2-14 Role of the Highest Governance Body in Sustainability Reporting About This Report 8

2-15 Conflicts of Interest Corporate Governance 42

2-16 Communication of Critical Concerns Corporate Governance 42-43

2-17 Collective Knowledge of the Highest Governance Body Corporate Governance 42-43

2-18 Evaluation of the Highest Governance Body’s Performance Corporate Governance 42-43

2-19 Remuneration Policies Corporate Governance 43

2-20 Process for Determining Remuneration Corporate Governance 43

2-22 Statement on Sustainable Development Strategy 2024 ESG Statement 4

Technology for Good 13-20

2-23 Policy Commitments Shareholder Rights Protection 44-45Compliance Management 46-49

Environmental Management 55Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

Arms to Embrace the World!

GRI Standard Disclosure Item Report Section Page Index

2-24 Integration of Policy Commitments Technology for Good 13-20

GRI 2: 2-25 Processes to Remediate Negative Impacts Information Security and Privacy Protection 39-40

General 2-26 Mechanisms for Seeking Advice and Raising Concerns Employee Responsibility 29-38Disclosures Corporate Governance 42-43

2021 2-27 Compliance with Laws and Regulations Governance 42-49

2-29 Approach to Stakeholder Engagement Stakeholder Engagement 9

2-30 Collective Bargaining Agreements Employee Responsibility 29-38

3-1 Process to Determine Material Topics Materiality Assessment 10

3-2 List of Material Topics Materiality Assessment 10

GRI 3:

3-3 Management of Material Topics Stakeholder EngagementMaterial Materiality Assessment 9-10

Topics 2021

201-2 Financial Implications and Other Risks and Opportunities Due to Climate Change Climate Change 51-52

201-3 Defined Benefit Plan Obligations and Other Retirement Plans Shareholder Rights Protection 44-45

GRI 205: 205-1 Operations Assessed for Corruption Risks Compliance Management 46-49

Anti-

Corruption 205-2 Communication and Training on Anti-Corruption Policies and Procedures

Compliance Management 46-47

Supply Chain Responsibility 26-29

2016 205-3 Confirmed Incidents of Corruption and Actions Taken Compliance Management 46-47

207-1 Tax Strategy Tax Compliance 48

GRI 207: Tax

2019 207-2 Tax Governance Control and Risk Management Tax Compliance 48

207-3 Stakeholder Engagement and Management of Tax-Related Concerns Stakeholder Engagement 9

303-1 Interactions with Water as a Shared Resource Climate Change 51-52

GRI 303: 303-2 Management of Water Discharge-Related Impacts

Climate Change 51-52

Pollution Emissions 53-54

Water and

Effluents 2018 303-3 Water Withdrawal Key Performance Data 59-61

303-4 Water Discharge Key Performance Data 59-61

303-5 Water Consumption Key Performance Data 59-61

306-1 Waste Generation and Significant Waste-Related Impacts Pollution Emissions 53-54

306-2 Management of Significant Waste-Related Impacts Pollution Emissions 53-54

GRI 306:

Waste 2020 306-3 Waste Generated Key Performance Data 59-61

306-4 Waste Diverted from Disposal Key Performance Data 59-61

306-5 Waste Directed to Disposal Key Performance Data 59-61Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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GRI Standard Disclosure Item Report Section Page Index

GRI 308: Supplier

Environmental Assessment 308-2 Negative Environmental Impacts in the Supply Chain and Actions Taken Supply Chain Responsibility 26-29

2016

3-3 Management of Material Topics Employee Rights Protection 29-31Talent Development and Retention 32-34

GRI 401: Employment 401-1 New Employee Hires and Employee Turnover Key Performance Data 59-61

2016

401-2 Benefits Provided to Full-Time Employees (Excluding Temporary or Part-Time Employees) Fair RecruitmentSocial Insurance and Welfare 30

401-3 Parental Leave Key Performance Data 59-61

GRI 402: 3-3 Management of Material Topics Employee Rights Protection 29-31

Labor/Management

Relations 2016 402-1 Minimum Notice Periods Regarding Operational Changes Employee Rights Protection 29-31

3-3 Management of Material Topics Employee Safety and Health 36-38

403-1 Occupational Health and Safety Management System Occupational Health and Safety Management Framework 37

403-2 Hazard Identification Risk Assessment and Incident Investigation Occupational Health and Safety Risk Identification and Control 38

403-3 Occupational Health Services Employee Safety and HealthSafety Training and Awareness 36-38

GRI 403: Occupational 403-4 Worker Participation Consultation and Communication on Occupational Health and Safety Democratic Management and

Health and Safety 2018 Suggestion Rights

31

403-5 Worker Training on Occupational Health and Safety Safety Training and Awareness 38

403-6 Promotion of Worker Health Employee Safety and Health 36-38

403-7 Prevention and Mitigation of Occupational Health and Safety Impacts Directly Linked to Business Relationships Employee Safety and Health 36-38

403-8 Workers Covered by an Occupational Health and Safety Management System Employee Safety and Health 36-38

403-9 Work-Related Injuries Key Performance Data 59-61

403-10 Work-Related Ill Health Employee Safety and Health 36-38

3-3 Management of Material Topics Talent Development and Retention 32-34

404-1 Average Hours of Training Per Year Per Employee Key Performance Data 59-61

GRI 404: Training and 404-2 Programs for Upgrading Employee Skills and Transition Assistance Programs Talent Development System 32-34

Education 2016 Rapid Onboarding for New

404-3 Percentage of Employees Receiving Regular Performance and Career Development Reviews Employees 34

Key Performance Data 59-61Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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GRI Standard Disclosure Item Report Section Page Index

Fair Recruitment 30

GRI 405: Diversity and 3-3 Management of Material Topics Talent Development and Retention 32-34

Equal Opportunity 2016

405-1 Diversity of Governance Bodies and Employees Talent Development and Retention 32-34

3-3 Management of Material Topics Employee Rights Protection 29-31

GRI 409: Forced or

Compulsory Labor 2016 409-1 Operations and Suppliers at Significant Risk for Incidents of Forced or Compulsory Labor Employee Rights Protection 29-31

3-3 Management of Material Topics Product Responsibility 24-25Supply Chain Responsibility 26-29

GRI 416: Customer Health

and Safety 2016 416-1 Assessment of the Health and Safety Impacts of Product and Service Categories Product Responsibility 24-25

416-2 Incidents of Non-Compliance Concerning the Health and Safety Impacts of Products and Services Strengthening Risk Management 49

3-3 Management of Material Topics Information Security and Privacy Protection 39-40

GRI418: Customer

Privacy 2016 418-1 Substantiated Complaints Concerning Breaches of Customer Privacy and Losses of Customer Data Information Security Risk Management 39Knowledge and Reasons are Our Introduction ESG Management Social Governance Environmental

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Shanghai Stock Exchange Guidelines on Self-Regulation for Listed Companies No. 14

Dimension No. Topic Report Section Page Index

1 Addressing Climate Change Climate Change 51-52

2 Pollution Emissions Pollution Emissions 53-54

3 Waste Management Waste Management 54

4 Ecosystem and Biodiversity Protection / Not applicable

Environmental 5 Environmental Compliance Management Environmental ManagementGreen Factory Development 55-58

6 Energy Utilization Climate Change 51

7 Water Resource Utilization Climate Change 51

8 Circular Economy Climate Change 51-52Waste Management 54

9 Rural Revitalization / Not applicable

10 Social Contribution Technology for Good 13-20

11 Innovation-Driven Development Innovation-Driven Development 21-23

12 Technology Ethics Technology for Good 13-20

Social 13 Supply Chain Security Supply Chain Responsibility 26-29

14 Equal Treatment of Small and Medium Enterprises Supply Chain Responsibility 26-29

15 Product and Service Safety and Quality Product Responsibility 24-25

16 Data Security and Customer Privacy Protection Data Security and Privacy Protection 39-40

17 Employees Employee Responsibility 29-38

18 Due Diligence Materiality Assessment 10

19 Stakeholder Engagement Stakeholder Engagement 9

Sustainability-

Related Integrity and Anti-Corruption

Governance 20 Anti-Bribery and Anti-CorruNot applicableption Anti-Corruption Whistleblowing

Key Performance Data 59-61

21 Anti-Unfair Competition Anti-Unfair Competition 48