ESG

EVERGREEN FUTURE

FUTURE EVERGREEN EVERGREEN

TECHNOLOGY

Changzhou Evergreen Technology Co. Ltd. 2025

Address: No. 300 West Hehai Road Xinbei District Changzhou Jiangsu Environmental Social

Postcode: 213000

Phone: +86 0519-68867972 and Governance Report

Email: cetstock@cearail.com

STOCK CODE: 001324About this Report

Report Overview Compilation Basis

This is the third Environmental Social and Governance (ESG) This report is prepared in accordance with the Self-Regulatory

Report issued by Changzhou Evergreen Technology Co. Ltd. Guidelines No. 17 for Listed Companies of the Shenzhen

(“CET” “the Company” or “we”). It outlines the Company’s Stock Exchange - Sustainability Report (Trial). It also refers to

environmental social and governance performance in 2025. the ISO 26000 Guidance on Social Responsibility the GRI

Standards (2021) and the United Nations Sustainable Develop-

ment Goals (SDGs) to systematically present the Company’s

sustainability practices and achievements across environmen-

tal social and governance dimensions.Report Scope

This report covers Changzhou Evergreen Technology Co. Ltd.and all its wholly-owned and controlled subsidiaries. The

scope of data in the social and governance section of the

report is consistent with the annual report. Unless otherwise

stated environmental data covers the Company’s headquar- Report Access

ters and its wholly-owned subsidiary JED. The electronic version of this report is available on the

Company’s website: https://www.cetrail.com. For more

Unless otherwise specified the data covers the period from information you may also refer to the Company’s annual

January 1 to December 31 2025. For continuity and compara- reports or visit the official website.bility some information may refer to periods outside the

reporting year. All currency amounts are in RMB unless

otherwise stated.Abbreviations for subsidiaries:

Jiangsu Evergreen Decorating Contact Information

JED Refers to

Materical Co.Ltd. Changzhou Evergreen Technology Co. Ltd.Address: No. 300 West Hehai Road Xinbei District Chang-

TrainFX TrainFX Technology zhou Jiangsu

Refers to

(Anhui) (Anhui) Co.Ltd. Postcode: 213000

Phone: +86 0519-68867972

TrainFX Refers to TRAINFX Limited Email: cetstock@cearail.com20 Changzhou Evergreen Technology Co. Ltd.

25 Environmental Social and Governance Report

CONTENTS

Evergreen Leads Steady and Evergreen Ecology Green and Evergreen Empowerment

Statement of the 03 01Sustainable Development 13 03Low-Carbon Development 43 05Shared Success 77President

﹙1﹚ Sustainability Governance 15 ﹙1﹚ Enhancing Environmental Management 45 ﹙1﹚ Building a Responsible Supply Chain 79

﹙2﹚ Strengthening Corporate Governance 21 ﹙2﹚ Advancing Green Operations 49 ﹙2﹚ Co-creating an Industrial Ecosystem 81

About Changzhou 05

Evergreen Technology ﹙3﹚ Upholding Integrity Principles 26 ﹙3﹚ Addressing Climate Change 53 ﹙3﹚ Contributing to Public Welfare and 83

Philanthropy

Company Profile 05

﹙4﹚ Upholding Compliance Standards 58

Corporate Culture 06

2025 ESG Highlights 07

CET Honors 09

Evergreen Tech Innovation Evergreen Talent Harmonious

02 Appendix 85Empowering Growth 29 04Workplace 61

﹙1﹚ Key Performance Indicators Table 85

﹙1﹚ Delivering Excellence in Quality 31 ﹙1﹚ Advancing Workforce Diversity 63

Enhancing Customer Value

Special 11Driving High-Quality ﹙2﹚ Index 91

Topic ﹙2﹚ Driving Innovation 35 ﹙2﹚ Enhancing Employee Well-being 66

Development through Innovation

﹙3﹚ Reader Feedback Form 93

﹙3﹚ Creating Customer Value 39 ﹙3﹚ Empowering Career Development 69

﹙4﹚ Safeguarding Employee Health 72EVERGREEN TECHNOLOGY ESG

Statement of the President

By deepening product As a high-tech enterprise focusing on lightweight sandwich composite materials for rolling

innovation we stock and architectural decoration we continued to drive product iteration and expand our

consolidated the business landscape in 2025. Leveraging advantages of light weight environmental sustainabili-

foundation for ty and recyclability our products are well aligned with the evolving needs of rolling stock and

development green architecture sectors.By advancing low-carbon Guided by the principles of "Green Intelligent and Safe" we embedded low-carbon concepts

practices we across the entire production lifecycle optimized manufacturing processes promoted energy

demonstrated our green conservation and emission reduction dedicated in R&D of lightweight eco-friendly composite

commitment materials improved environmental management systems and strictly controlled pollutant

emissions. We took concrete actions to protect the ecosystem and contributed to the carbon

peaking and carbon neutrality goals.By putting people first We always regard our employees as our most valuable asset continuously enhancing systems

we gathered strength for employee rights protection and occupational health and safety while improving the working

for growth environment. By establishing comprehensive training and career development platforms we

aligned employee growth with corporate development and fostered industry collaboration to

drive shared progress.By upholding integrity Sound corporate governance underpins sustainable development. In 2025 we remained

and innovation we committed to our core values of "Integrity Innovation Perseverance" improved governance

reinforced governance structure clarified responsibilities at all levels and integrated ESG management into daily

excellence operations and risk management thereby enhancing transparency and compliance.As time goes by a new chapter unfolds. In 2025 amid evolving global economic dynamics and accelerating industry transformation we Going forward we will move ahead with stronger determination more pragmatic efforts and greater innovation. United in purpose and

remained steadfast in our core business philosophy integrated sustainability into every aspect of operations and forged ahead through driven by action we will continue to write new chapters for CET meet society’s expectations with responsibility and build a brighter and

industrial upgrading and responsible practices. We continued to uphold our corporate commitment and fulfilled our corporate responsi- more sustainable future.bilities.

0304

Representative of the 10th and 11th National People's Congress

Changzhou Evergreen Technology Co.Ltd. Chairman

ZHOU YIN MEIEVERGREEN TECHNOLOGY ESG

Evergreen's Business Global Footprin

Changzhou Evergreen Technology

Company Profile

Changzhou Evergreen Technology is a high-tech enterprise specializing in the development and application of lightweight sandwich

composite materials. The Company possesses strong technical research and development capabilities sophisticated production

techniques advanced testing equipment scientific management systems and prompt service capabilities. Since establishment we have

accumulated numerous high-quality customer resources and extensive project experience earning a strong reputation and brand image

in the industry.CET has established a comprehensive product system in two major fields: rail transportation and architectural decoration with a promi-

nent market position. In the field of rail transportation we provide interior decoration products for rolling stock maintenance services

spare parts and on-board passenger information systems. In the architectural decoration business we offer interior and exterior decora-

tion products. We will always adhere to the research and application of lightweight composite materials with sandwich structures and

continuously expand the application of products into more sectors.Domestic Partners International Partners

Corporate Culture

Core Values

·Integrity ·Innovation ·Perseverance

CET Culture

·Loyalty ·Diligence ·Dedication ·Caring

Vision

·To become a global leading manufacturer of high-quality lightweight

sandwich composite materials

05 06EVERGREEN TECHNOLOGY ESG

2025 ESG Highlights Social Performance

Financial Performance Obtained EN 17460 Bonding Quality Management System Certification (upgraded from

DIN 6701)

Operating 483.1655 YoY 4.94 Obtained ISO 9001 Quality Management System Certification 97.36%revenue: RMB million Growth % Customer

Obtained IRIS ISO 22163 International Railway Industry Management System Standard satisfaction rate

Certification

Obtained EN 15085 Railway Vehicles and Components Welding Standard System

Certification 21.97%

Female employees

Governance Performance Obtained ISO 45001 Occupational Health and Safety Management System Certification accounted of total

employees

Obtained GB/T 29490:2023 Intellectual Property Management System Certification

Cumulative total of 17 software copyrights and 156 valid patents including 27 invention

patents and 129 utility model patents

44.44% 1.015million

54450100

Public welfare

Customer satisfaction rate: 97.36%

% investment

Female directors Public Periodic Interim Investor inquiry

totaled RMB

Female employees accounted for 21.97% of total staff

accounted of the board disclosures reports reports response rate

Total employee training hours reached 12765 with an average of 15 hours per employee

Public welfare investment totaled RMB 1.015 million

Environmental Performance

Obtained ISO 14001 Environmental Management System certification

Total market-based Greenhouse Gas (GHG) emissions: 1860.36 8.3194million

down 50.22% year-on-year Environmental-related

investments totaled

100% compliance in waste gas wastewater and solid waste discharge

Environmental-related investments totaled RMB 8.3194 million

Renewable energy consumption equivalent to 467.28 tce 467.28 tce

Renewable energy

Purchased 3418 MWh of Green Electricity Certificates (GECs) and 181 consumption equivalent

tonnes of forestry carbon credits.

0708

were publishedEVERGREEN TECHNOLOGY ESG

CET Honors

Xuejia Town

Outstanding

Contribution · Star Wind ESG Best Practices CCO Talent Pool of Changzhou High-tech Zone

Entrepreneur Top 100 Member

Unit

Shanghai Curtain Wall Shared Design

Innovation

Award

The 3rd China News Cup·ESG

Golden Bull

Award

2025 Changzhou 2025 Changzhou Models

Near-Zero-Carbon Factory National Green Factory of Smart Workshop

Consistently awarded the IRIS Silver Medal

09 10EVERGREEN TECHNOLOGY ESG

Driven by the carbon peaking and carbon neutrality goals and the growingly adopted green development principles low-car-

bon transition of the rail transit and construction sectors has become a key pillar of corporate ESG practices. As a high-tech

Enhancing Customer Value enterprise specializing in the development and application of lightweight sandwich composite materials CET leverages core

products such as aluminum honeycomb panels and ultra-thin stone honeycomb panels to embed the principles of "Green

Driving High-Quality Development Energy-Efficient Integrated Prefabricated Recyclable and Sustainable" throughout the entire lifecycle of product R&D manu-Special facturing and application. In the rail transit sector the Company's products are widely applied in the interior systems and key

Topic structural components of high-speed trains and metro vehicles. Lightweight design effectively reduces energy consumption through Innovation and supports full-lifecycle low-carbon operations. In the construction sector the Company's products have contributed to the

development of numerous landmark projects where technological innovation drives the industry's green transformation

setting a benchmark for coordinated development of environmental responsibility and industrial value.In the Rail In the Architectural

Transit Sector Decoration Sector

OPPO Headquarters Hangzhou Haiwei The Ark | Renovation of an old 916/930 Project Hefei Line S1 Project TP-Link

Ouga Building Amber Center ShanghaiCement Factory

WarehouseAS300 Project CTDOT Project DB2 Project Ant Group Headquarters Sanya International Duty Free Tencent "Cloud Building”

Phase II Shopping Complex at Shenzhen

NSDD ICNG Germany N06 SJ250 Anji Culture and Anji International Convention Shenzhen International Hohhot Shengle

Art Center and Exhibition Center Communication International

Center Airport

11 1201 Evergreen Leads Steady ﹙1﹚ Sustainability Governance 15

and Sustainable Development ﹙2﹚ Strengthening Corporate Governance 21

﹙3﹚ Upholding Integrity Principles 26

Key topics Highlight Performance/Major Strategies

·ESG Management ·Prioritized material ESG topics based on financial and impact materi-

ality

·Compliance Management

·Valued board diversity with women accounting for 44.44% of

directors

·Business Ethics

·Conducted a total of 811 hours of anti-corruption training covering

·Anti-Corruption 100% of employees

·Anti-Monopoly and ·Established diverse reporting channels and implemented strict Fair Competition

measures to protect whistle-blowersEvergreen Leads Steady and Sustainable Development EVERGREEN TECHNOLOGY ESG

Sustainability Governance At the same time the Company has closely linked executive compensation to key ESG issues such as occupational safety and health

product quality and safety and R&D innovation. This includes multi-dimensional ESG core performance targets such as the "Zero Grade

8 Injury Rate" "Quality Compliance Rate" and "Customer Satisfaction". This further clarifies the core responsibilities of executives in ESG

management fully demonstrating the Company's high priority and firm commitment to ESG management and providing a robust institu-

tional safeguard for the solid implementation of all ESG objectives.

1. ESG Management

CET has established the Working Rules of the Strategy Committee explicitly elevating ESG management to the board level of

decision-making. The Strategy Committee oversees ESG affairs supported by an ESG Management Team for coordination and an ESG

Working Team responsible for implementation.ESG Management Structure 2. Stakeholder Engagement

The Company maintains open and transparent communication with shareholders investors government customers employees suppli-

Board Review and approve the Company's sustainable development strategies goals and significant matters ers partners and communities. Through general meetings investor briefings customer seminars surveys and on-site visits we listen to

of Directors related to social responsibility; demands and incorporate feedback into ESG improvement.Regularly receive ESG work reports and receive updated information on ESG risks and opportunities at

least once a year.Stakeholder Expectations and Demands Response and Communication Approach

Strategic Coordinate and manage ESG-related matters (including but not limited to climate change water conser-

Committee vation biodiversity protection human rights management occupational health and safety community Continuous growth of business performance Holds General Meeting of Shareholders

welfare and social participation etc.);

Open and transparent corporate information Publishes company announcements and periodic reports

Review the Company's annual ESG report supervising and inspecting the Company's ESG target Shareholders/

planning organization and implementation information disclosure and other related matters. Investors Protecting shareholders' rights and interests Organizes performance briefing sessions

Standardise corporate governance Investor service hotline

Risk Prevention Investor on-site research

ESG Establish ESG implementation mechanisms and evaluate ESG management methods;

Management

Team Responsible for key communication and coordination of ESG affairs.Paying taxes in accordance with the law Disclosure of Information

Drive employment Daily communication and reporting

Government and

ESG Implement and promote ESG management matters; regulators Comply with the business Co-operation with regulatory bodies for verification

Working

Group Actively respond to stakeholders' opinions and inquiries regarding the Company's ESG affairs. Promote economic development Participation in government research activities

Undertake social responsibility Policy Implementation

CET integrates ESG management principles into its corporate development strategy. We have formulated clear strategic plans centered on Visits and Research

core areas such as product technology innovation and R&D market expansion talent development ESG governance and digitalization

Issuance of compliance certificates

ensuring that the direction of ESG development is fully aligned with the company's long-term strategic vision.

15 16Evergreen Leads Steady and Sustainable Development EVERGREEN TECHNOLOGY ESG

3. Double Materiality Assessment

Stakeholder Expectations and Demands Response and Communication Approach

CET addresses key industry issues and conducts regular ESG double materiality assessments. In strict adherence to the principles of materi-

ality completeness and stakeholder engagement the Company developed two sets of questionnaires addressing financial materiality and

Maintain long-term good co-operation Customer Enquiry and Complaint Hotline impact materiality and invited participation from a wide range of stakeholders including shareholders and investors employees customers

suppliers business partners industry associations media and government representatives. Based on the feedback collected the Company

Provide high quality product service Customer satisfaction survey and complaint return visit carried out a comprehensive assessment of material topics prioritizing them across the two dimensions of "Financial Materiality" and

"Impact Materiality". This process enabled the construction of a core materiality matrix clearly defining the priority areas for ESG manage-

Customers Honest transaction Visit and research

ment.Protect the legitimate rights and interests Product quality management system

of customers During the reporting year the Company identified 25 material ESG topics across the three dimensions of Environment Social and Gover-

Company official website and other media

nance forming a comprehensive list of key ESG topics which are disclosed as a focus of this report.Product quality and service management

High

Protecting Employee Rights and Benefits Improve compensation and benefit system Occupational Health and Safety

Product Safety and Quality

Sound career development channels Hold annual company meeting Protecting Employee Rights

Environmental Management

Employees Open communication channels Holds labour union activities and staff cultural

Client Service

and sports activities

Occupational Health and Safety Compliance Management

Employee Congress Information Security and Privacy Protection R&D Innovation

Employee satisfaction survey Social Contributions Responsible Sourcing

Conducting diversified employee training Water Management

Intellectual Property Protection

Business Ethics

Energy Management

Maintain long-term good co-operation Developing procurement management practices Anti-CorruptionEmployee training and development

ESG Governance

Procurement is fair and transparent Open and fair bidding Cleaner Production

Climate Response Waste Disposal Tax Transparency

Suppliers Procurement with integrity Supplier vetting Employee Diversity

Compliance with business ethics Daily communication Rural Revitalization Biodiversity Conservation Corporate Governance

Visit and research

Low Financial Materiality High

Mutually Beneficial and Win-Win Active association activities Product Safety and Quality Intellectual Property Protection Environmental Management Employee Diversity

Industry Partners Open communication channels Participation in industry conferences Client Service Business Ethics Employee training and Biodiversity Conservation

development

R&D Innovation Responsible Sourcing Rural Revitalization

Promote the development of the industry Energy Management

Information Security and Tax Transparency Social Contributions

Privacy Protection Waste Disposal

Anti-Corruption

Protecting Employee Rights Cleaner Production

Focus on and support for community development Charitable Giving Corporate Governance

Communities Compliance Management ESG Governance

Participate in Voluntary Community Service Water Management

Occupational Health and Safety Climate Response

1718

Impact MaterialityEvergreen Leads Steady and Sustainable Development EVERGREEN TECHNOLOGY ESG

4. ESG Risk Management Impacts Risks Topic Strategy and Opportunities Indicators and Targets Chapter

CET has fully integrated ESG risk management into the Company's overall risk management process. The Company ensures that ESG R&D The Company increases With the accelerating pace of Adhere to a market-oriented approach to Evergreen

concepts are carried through the entire process of strategy formulation and execution by strengthening the risk management awareness Innovation investment in R&D to technological innovation failure to technological innovation ensuring Tech

of ESG decision-making and management. The audit department as the supervisory department of ESG risk management conducts enhance independent meet product performance and alignment between R&D and market Innovation

systematic audits on employee management quality management environmental management and safety management on a regular innovation capability; reliability standards—or misjudg- demand Empowering

basis every year. Each functional department actively cooperates with the audit process fostering a collaborative framework that deepens cooperation among ing market demand—will result in Deepen collaboration with core Growth

industries universities and lower-than-expected returns on

integrates efforts across all levels to ensure the comprehensiveness and effectiveness of ESG risk management. customers; Expand into emerging sectors

research institutes to R&D investments. such as shipbuilding and cruise vessels

accelerate the transformation As a supplier of lightweight and special-purpose vehicles to build a

CET incorporated ESG practices into its daily operations enabling comprehensive identification assessment and management of of technological achieve- sandwich composite materials the strong reputation and reinforce market

ESG-related risks thereby effectively reducing the likelihood of potential risks. Focusing on five topics of high "Dual Materiality" the ments; and strengthens the Company faces intense competi- position

Company systematically consolidated key elements — including "Strategy" "Impacts Risks and Opportunities" "Indicators and Targets" protection of intellectual tion in both domestic and

— to advance ESG risk management in a targeted manner and strengthen risk prevention and control in priority areas. property rights to enhance international markets and must

the core competitiveness of sustain continuous innovation to

the enterprise. maintain its competitive edge.Impacts Risks

Topic Strategy Indicators and Targets Chapter Compliance The Company has The company's primary No violation of laws and regulations Evergreen and Opportunities Management established a systematic and compliance risks include Leads

multi-dimensional risk constantly evolving laws and Steady and

Product The Company adheres to Quality problems can affect Customer Satisfaction ≥95% Evergreen management system to regulations as well as the Sustainable

Safety the quality policy of "Pursue customer satisfaction and Tech ensure its compliant complexities of cross-border Develop-

No more than 5 customer complaints

and Excellence Quality as the serious problems may lead to a Innovation operation through sound operations. Operating in ment

per month

Quality Top Priority; Fulfill Promises decline in the company's market Empowering control procedures and compliance with regulations

Customers in the Core share. Through the whole The rate of products passing the first Growth special supervision helps secure government

Mindset" and establishes a process of quality risk control inspection ≥98% mechanisms. support and build a positive

perfect product quality we can improve the quality of brand image.management system. our products and win a better

reputation. Environmental Strengthen environmental Environmental non-compliance Compliant Operations: Ensure all Evergreen

Management protection and realize green may face penalty notification. operations consistently comply with Ecology

development. Implement Through sound environmental national and local environmental laws Green and

Occupational The Company adheres to Hazardous substance exposure Zero fire incidents Evergreen energy-saving and emission management companies can and regulations with zero major Low-Carbon

Health the safety production and noise may affect the Talent reduction measures avoid fines and gain recognition environmental violations Development

Zero pressure vessel explosion incidents

and Safety principle of "Prioritize Safety physical and mental health of Harmonious promote environmentally from stakeholders. Risk Control Rate: Achieved 100%

Emphasize Prevention employees. By strengthening Zero serious injuries or fatalities Workplace friendly technologies and implementation of control measures for

Integrate Management." safety control we can achieve a products and reduce

100% rectification rate of identified safety identified major environmental risk points

win-win situation for both environmental pollution in

hazards (e.g. hazardous waste storage emission

employees and the Company. the production process. outlets) with 100% digital tracking

100% participation and pass rate in safety coverage

education and training

System Certification: Continuously review

100% certification rate for special and maintain the effectiveness of the

equipment operators environmental management system

100% registration rate of special Capacity Building: Deliver annual

equipment professional training to 100% of

personnel in key environmental positions

100% operational integrity rate of major alongside company-wide environmental

equipment awareness training

19 20Evergreen Leads Steady and Sustainable Development EVERGREEN TECHNOLOGY ESG

Strengthening Corporate Governance Board DiversityThe Company maintains high diversity of the Board of Directors to enhance decision-making effectiveness strengthen compet-

itive advantages and support the Company's sustainable development. During the selection process for Board candidates we

comprehensively consider multiple dimensions such as professional competence gender and age striving to build a Board

1. Corporate Governance that possesses both representativeness and professional quality. As of the end of the reporting period the Chairperson of the

Company is female. Among the 9 members of the Board of Directors there are 4 female directors (accounting for 44.44%) and

Based on the company's own development situation CET is committed to compliant operation and sustainable development continu- 3 independent directors (accounting for 33.33%) effectively ensuring the independence impartiality and diversified perspec-

ously improves its governance structure optimizes governance processes and enhances governance effectiveness to create long-term tives of Board decisions.value for shareholders and stakeholders.Governance Structure

CET continuously optimizes its corporate governance and has revised fundamental policies such as the Changzhou Evergreen Technolo- Investor Communication

gy Articles of Association. We have built an efficient and transparent governance system centered on the shareholders' meeting the

board of directors and the management team complemented by a refined internal control system to build a solid foundation for the The Company has formulated the Information Disclosure Management System and the Investor Relations Management System

Company's long-term stable development. In 2025 to further improve governance levels and management efficiency optimize organiza- clearly defining the scope of information disclosure external information submission processes and confidentiality management

tional structure and streamline management processes CET specifically issued the Management SOP for the Departure of Directors requirements. These measures effectively ensure the authenticity accuracy completeness and timeliness of information disclosure

and Senior Management and revised systems including the Management for the Compensation of Directors and Senior Management providing reliable information support for investors. During the reporting period the Company disclosed a total of 54 announcement

and the Work Details of the Audit Committee of the Board of Directors providing solid support for the efficient operation of the Board documents including 4 periodic reports and 50 extraordinary announcements.of Directors and the standardized management of senior executives.To establish smooth communication channels with investors and potential investors the Company has set up an Investor Relations

The Board of Directors has established four specialized committees: the Nomination Committee the Audit Committee the Compensation management column on its official website and promptly receives and responds to investors' inquiries and suggestions via email and the

and Assessment Committee and the Strategy Committee. By improving systems and standards the Company continuously enhances the Easy IR platform. In addition the Company has established a dedicated investor consultation hotline to provide convenient communica-

rationality and effectiveness of daily operations management and decision-making on major issues. The management team with the Gener- tion methods effectively safeguarding the legitimate rights and interests of investors and enhancing trust and cooperation between the

al Manager at its core strictly follows the resolutions of the Board of Directors leading the implementation of annual business goals. Company and investors. During the reporting period CET held 1 investor reception day receiving 3 investor visits; organized 2 investor

Through lean management and industrial structure optimization they continuously improve the Company's operational efficiency and briefing; and responded to 31 investor questions through the investor interactive platform with a 100% response rate.market competitiveness.During the reporting period the Company disclosed

Changzhou Evergreen Technology Structure Shareholders'

Meeting 54 4 50

Announcement documents Periodic reports Extraordinary announcements

Nomination Committee Board

of Directors

Audit Committee

Secretary to the Board On April 29 2025 the company's 2024 Annual General Meeting of Shareholders approved the Proposal on the 2024 Annual Profit

Compensation and Assessment Committee Distribution Plan: Based on the total share capital on the record date for equity distribution after deducting 545600 repurchased shares

Strategy Committee General a cash dividend of RMB 0.727514 (pre-tax) per 10 shares was distributed to all shareholders totaling RMB 10 million (pre-tax). No capital

Manager reserve was converted into share capital and no bonus shares were issued. The record date for this equity distribution was May 29 2025

and the ex-dividend date was May 30 2025. The plan has been fully implemented.On September 8 2025 the company's First Extraordinary General Meeting of Shareholders for 2025 approved the Proposal on the 2025

Semi-Annual Profit Distribution Plan: Based on 137454400 shares (total share capital of 138 million shares minus 545600 repurchased

shares held in the special repurchase account) a cash dividend of RMB 0.60 (pre-tax) per 10 shares was distributed to all shareholders.No capital conversion or bonus shares were issued. Between the announcement of this plan and its implementation due to the

non-transferable transfer of reserved shares under the employee stock ownership plan 220000 shares were reduced from the repur-

chase account resulting in an actual cash distribution of RMB 8.2605 million. The record date for this equity distribution was September

29 2025 and the ex-dividend date was September 30 2025. The plan has been fully implemented.

2122

Securities Affairs

Department

Audit Department

Strategic and Investment

Financing Department

Process

Engineering Department

Technology Research

and Development Center

Domestic Business

Department

International

Business Department

Manufacturing

Department

Planning and

Control Department

Quality Department

Warehousing &

Logistics Department

Procurement Department

Human Resources

and Administration Center

Finance Center

Foreign Subsidiaries

Domestic SubsidiariesEvergreen Leads Steady and Sustainable Development EVERGREEN TECHNOLOGY ESG

2. Risk Management

3. Enhancing Compliance Management

CET has established a systematic and multi-dimensional risk management system ensuring compliant operations through refined control

procedures and specialized supervision mechanisms. The Company's risk management is overseen by the Audit Committee with the Audit

Department serving as the primary execution department to coordinate risk assessment management and mitigation efforts building a Governance

solid risk defense line for the Company's business development.The Company attaches great importance to compliant operations always focusing on improving the system framework and standardizing

In the risk identification and early warning stages the Company systematically identifies and assesses potential risks by collecting inspection process controls. It continuously strengthens compliance management and consolidates the compliance management system. During the

materials through checklists; comprehensively enhances employees' risk awareness through training interviews and communication; reporting period the Company revised 20 core management systems including the Work System for Independent Directors Regarding

monitors risk dynamics in real-time; effectively prevents potential risks by formulating contingency plans and emergency response Annual Reports the Registration System for Insiders of Inside Information the Accountability System for Major Errors in Annual Report

protocols; and promptly discovers and addresses hidden risks through on-site inspections and patrols. Through continuous improvement Information Disclosure and the Work System for the Audit Committee Regarding Annual Reports further standardizing controls across

plans and follow-up implementation mechanisms the Company ensures the dynamic optimization and long-term effectiveness of risk various business links and ensuring the Company's compliant and efficient operation.management measures.During the reporting period the Company optimized and upgraded its organizational structure and the online approval process on "XINFU-

To ensure risk management measures take root and internal control systems are effectively executed the Company has built a systematic TONG" app was simultaneously updated and implemented. Meanwhile the Company will take the opportunity of the ERP upgrade and

multi-level training system. It conducts practical training on core documents such as the revised Internal Control Management Manual launch to uniformly review and revise existing internal control procedures and management manuals further promoting compliance control

providing detailed interpretations of key revision points to optimize their design and execution effectiveness. This ensures that management toward full coverage process-orientation and standardization effectively safeguarding the Company's compliant and efficient operations.personnel across all departments deeply understand and strictly implement the requirements of the internal control system promoting the

detailed and effective implementation of risk management work.Strategy

Empowering Finance and Taxation through Training Safeguarding against Risks through Strategy

Case

— Typical Case of Special Training on Financial and Tax Risks

As a core competitiveness of the enterprise compliance management serves as the top-level planning for supporting compliant opera-

In November 2025 to strengthen the Company's financial and tax compliance management and prevent various potential tions and preventing systemic risks. CET integrates compliance requirements into strategic goals and the entire business process

risks in the financial and tax fields the Company organized the finance department to participate in the special course "360° establishes an independent compliance inspection department and incorporates compliance performance into the assessments of

Review and Comprehensive Solution Strategies for Financial and Tax Risks" conducted by Dacheng Fanglue. The training parent-subsidiary companies and departments. By strengthening compliance organizational responsibilities and systems eliminating

focused on personnel in finance auditing and other relevant core positions. This training effectively improved the profes- hidden compliance hazards and building a robust compliance culture prevention mechanisms and information systems the Company

sional quality and risk prevention capabilities of the participants helping the Company comprehensively identify weak links in has formed a compliance management system with Evergreen characteristics to support its sustainable development.financial and tax management and refine its risk control strategies thereby providing strong support for preventing financial

and tax compliance risks.Management of Impacts Risks and Opportunities

To ensure the effectiveness of the compliance management strategy build a solid defense line for compliant operations and prevent

various potential compliance risks the Company in light of its business management situation focuses on key links of compliance

management and has formulated systematic and targeted control measures for potential compliance hazards in different fields.Compliance Risk Control Measures

Safety and Compliant Strictly implement control measures such as orientation training for new employees regular

Production Risk Control safety meetings third-party maintenance services and on-site hazard inspections to prevent

compliance risks in the production process.Financial and Tax Clearly define requirements for fund management invoice/document management and

"360° Review and Comprehensive Solution Strategies for Financial and Tax Risks" Course On-site Compliance Risk Control inventory taking; strengthen compliance checks on vouchers to ensure that financial and tax

work is conducted in a compliant and orderly manner.

23 24Evergreen Leads Steady and Sustainable Development EVERGREEN TECHNOLOGY ESG

Data and Information Timely adjust permissions on data and information work platforms (e.g. online work groups Metrics and Targets

Security Compliance approval platforms and email permissions) when personnel changes occur. The addition reduc-

Risk Control tion or change of permissions is audited according to Company regulations. Meanwhile

strengthen data and information security control through information systems such as ERP.Targets 2025 Progress

Labor and Employment Standardize procedures for employee entry transfer reassignment and departure as well as Eliminate serious safety accidents and implement preventive measures; No major safety accidents

Compliance Risk Control background checks and training requirements; sign non-compete agreements and confidentiality

Zero major non-conforming products; No major non-conforming products

agreements with relevant employees; and require marketing personnel to sign integrity commitments.Improve equipment reliability optimize site management and cost control; No government penalties

Official Seal and The Legal Department is responsible for the custody of official seals and the review of stamping. Eliminate government penalties and ensure standardized

Stamping Risk Control Control requirements are strengthened to specify that all stamped contracts and documents and efficient key management links.must state the signing time and key terms such as price and delivery time must not be left blank.No seals will be affixed to documents that do not meet the requirements.Supplier Access Standardize the use of forms such as Supplier Requirement Application Forms and Supplier

Risk Control Recommendation Forms; clarify form signing and approval requirements; optimize and improve

the template for procurement framework contracts to standardize the signing process; and

define supplier evaluation and assessment standards through the Procurement Control Proce-

dure and the Supplier Evaluation Control Procedure. Upholding Integrity Principles

The Company attaches great importance to the cultivation of compliance awareness among all employees. In line with the compliance

performance needs of various positions the Company conveys compliance concepts and popularizes basic compliance requirements to 1. Anti-corruption

all employees through targeted compliance training and regular publicity. This continuously strengthens employees' compliance cogni-

tion and sense of responsibility providing a solid personnel guarantee for the effective implementation of the Company's compliance CET integrates the concept of integrity into the entire process of corporate operations earnestly practicing social responsibility and

management system. business ethics. The Company clearly stipulates anti-corruption provisions in the Employee Handbook and has formulated systems such

as the Code of Business Conduct and the Supplier Integrity Agreement. These further strengthened work standards for fair trade and

Promoting Compliance through Learning Strengthening Foundations through Training

Case

— Typical Case of Special Training on Compliance Management integrity compliance defined clear boundaries and providing explicit norms and guidelines for the professional conduct of all personnel

and supply chain partners thereby built a solid institutional foundation for integrity within the workforce and the supply chain. The

In December 2025 to further consolidate the foundation of Company has established an Integrity Supervision Group composed of the Administration Department the Finance Center and the Audit

the Company's compliance management and strengthen Department. As the core executing agency for system implementation it is fully responsible for the supervision and execution of integrity

the compliance awareness of all staff the Company's Audit management strengthening the rigid constraints of the integrity management system and ensuring that integrity culture construction

Department conducted "Special Training on Compliance and various management systems are integrated throughout the entire process of corporate operations and effectively implemented.Management" for key personnel. The training content was

closely aligned with the actual needs of the Company's The Company actively carries out anti-corruption training covering the importance of anti-corruption laws regulations and ethical

compliance management covering the framework of the standards the responsibility positioning of senior management and employees and the application of internal auditing. The Company

corporate compliance management system compliance strictly publicizes laws regulations and internal systems related to corruption and bribery emphasizing the exemplary role of senior

risks in key areas and prevention and control measures. management in anti-corruption requiring them to lead by example promote the implementation of integrity culture and build a strong

This effectively strengthened the professional compliance anti-corruption defense line. During the reporting period CET's total anti-corruption training hours amounted to 811 hours covering 100%

capabilities of all staff and key personnel promoting the of employees.in-depth implementation of the Company's compliance

management work. As of the end of the reporting period CET has not experienced any incidents of penalties resulting from violations of relevant laws and

"Special Training on Compliance Management" On-site regulations in the social and economic fields fully reflecting the Company's remarkable achievements in integrity management. During

the reporting period the number of major corruption litigation cases was zero.

25 26Evergreen Leads Steady and Sustainable Development EVERGREEN TECHNOLOGY ESG

Empowering Integrity to Strengthen Foundations Safeguarding Original Intent through Training 3. Whistleblower Protection Measures

Case

— Special Training on Anti-corruption and Integrity Promotion

CET has formulated the Whistleblowing and Supervision Management Regulations establishing a smooth and efficient supervision and

In December 2025 the Company's Audit Department reporting system with diversified channels aiming to prevent and curb various illegal crimes behaviors that damage corporate interests

organized special training on anti-corruption and integrity and violations of Company management systems. The Company clarifies that employees enjoy the right of supervision and encourages

promotion. The content covered core points such as all employees and external stakeholders to report behaviors that violate laws regulations Company systems and ethical codes.anti-corruption laws and regulations identification and

prevention of integrity risks and integrity reporting Regarding violations such as bribery the Company handles them strictly in accordance with relevant regulations. It orders violators to

channels. All departments appointed representatives to return improper benefits and bear corresponding economic compensation. Depending on the severity of the violation sanctions such as

participate. This training effectively strengthened the warning talks position adjustments and demotion or dismissal are imposed along with deductions from performance salaries.awareness of all staff in performing their duties with integri- Confirmed violations are punished severely and whistleblowers are given material rewards. Cases suspected of involving crimes are

ty promoted the rooting and transmission of integrity transferred to judicial authorities in accordance with the law.concepts across all departments and further improved the

Company's anti-corruption publicity and education system. The Company resolutely prohibits any form of retaliation against whistleblowers for legitimate reports. Personnel handling reports strictly

Anti-corruption and Integrity Promotion Special Training On-site

maintain the confidentiality of the whistleblower's name organization contact information and other personal details ensuring that

investigations are conducted in a standardized manner without revealing the whistleblower's identity. During the reporting period the

Company did not experience any reporting cases.

2. Anti-Monopoly and Fair Competition

Reporting Hotline Email

The Company strictly complies with the relevant policy requirements of the Anti-monopoly Law of the People's Republic of China and Reporting

Channels 0519-68867972 wyf@cearail.com

In-person reporting

the Anti-unfair Competition Law of the People's Republic of China clearly incorporating compliance requirements into the Employee is accepted

Handbook zhaiyy@cearail.com and integrating anti-monopoly and fair competition regulations into the Company's code of conduct.CET periodically organizes employees to participate in anti-monopoly law and regulation training to enhance the compliance awareness

of all staff. During the reporting period the Company conducted training on anti-monopoly and anti-unfair competition for members of

the Board of Directors and senior management with a total training duration of 7.5 hours and 15 person-times of participation.Building a Defense Line through Training Safeguarding Fairness through Law

Case

— Case of Special Training on Anti-monopoly and Anti-unfair Competition

In 2025 the Company conducted special training on

anti-monopoly and anti-unfair competition for Board

members and all senior management. The training

interpreted core legal clauses and analyzed key violations in

light of typical industry cases guiding the core management

team to clarify compliance boundaries. This training

strengthened the compliance awareness and risk preven-

tion capabilities of the senior management promoted the

integration of compliance concepts into top-level

decision-making and built a solid legal guarantee for the

Company's high-quality development.Anti-monopoly and Anti-unfair Competition Special Training On-site

27 2802 Evergreen Tech Innovation ﹙1﹚ Delivering Excellence in Quality 31

Empowering Growth ﹙2﹚ Driving Innovation 35

﹙3﹚ Creating Customer Value 39

Key Topics Highlight Performance/Major Strategies

·Product Quality ·Obtained ISO 9001 Quality Management System Certification since

2005

·R&D and Innovation

·Obtained EN 17460 Bonding Quality Management System Certifica-

tion (upgraded version of DIN 6701) in 2025

·Obtained IRIS ISO 22163 International Railway Industry Management

System Standard Certification

·Obtained EN 15085 Railway Vehicles and Components Welding

Standard System Certification

·Obtained GB/T 29490:2023 Intellectual Property Management

System Certification

·Cumulative total of 17 software copyrights and 156 valid patents

including 27 invention patents and 129 utility model patents

·Customer satisfaction rate reached 97.36% up 1.5% year-on-yearEvergreen Tech Innovation Empowering Growth EVERGREEN TECHNOLOGY ESG

Delivering Excellence in Quality

1. Governance

CET strictly complies with the laws and regulations of the countries and regions where its products operate throughout their entire life cycle. ISO 9001:2015 Quality IRIS ISO 22163 International EN 17460 Bonding Quality EN 15085 Railway Vehicles and

We have formulated a series of standardized documents such as the Quality Manual the Quality Assurance Measures for Suppliers the Management System Certification Railway Industry Management Management System Certification Components Welding

Outsourcing Control Procedures and built a product quality control framework based on international quality management system System Standard Certification Standard System Certification

standards like ISO. Under the overall deployment of the Board of Directors and the direct leadership of the General Manager the Company's

Quality Department as the core department for product quality control has established a professional and comprehensive quality control

team system to build a solid barrier for product quality. 2. Strategy

CET adheres to the quality commitment of "Pursue Excellence Quality as the Top Priority; Fulfill Promises Customers in the Core

Company Quality Management Organizational Structure

Mindset" and has established a comprehensive product quality management system. Following the mature application of lightweight

sandwich composite products in rolling stock and architecture CET continues to expand into more application fields. We actively discuss

Department/Position Main Responsibilities with universities on the opportunities of combining high-performance materials with digital and intelligent applications to continuously

innovate to build product diversification.Coordinates the deployment of product quality control-related work and provides top-level

Board of Directors guidance for quality management.

3. Management of Impacts Risks and Opportunities

Directly leads the product quality control work implements relevant deployments of the Board and

General Manager

coordinates the execution of various quality control tasks. Improving Product Quality

To improve product quality CET focuses on full-process control and has built a comprehensive quality improvement system covering

institutional guarantees testing and technological empowerment. Based on internal regulations such as the Process Discipline Inspec-

Serves as the core department for product quality control coordinating the entire quality manage-

tion and Incentive Management System the Continuous Improvement Control Procedures and the Risk and Opportunity Control

ment process.Procedures dedicated personnel are assigned to conduct regular process discipline inspections. For issues identified during inspections

Quality Department a Process Discipline Inspection PDCA Form is issued to clarify rectification responsibilities. Performance incentives are implemented

It consists of three functional teams—Testing Center Supplier Management and Process based on the implementation rate of process discipline and the degree of issue rectification consolidating the institutional foundation for

Control—and is equipped with both domestic and international quality teams to ensure products quality improvement.meet relevant quality standards and compliance requirements at home and abroad.Product Quality CET has built a complete and transparent quality inspection and control system equipped with professional

Inspection testing laboratories. We carry out comprehensive testing focusing on aspects such as mechanical and

In 2025 the Company obtained the EN 17460 Bonding Quality Management System Certification which is the upgraded version of DIN 6701. physical properties electrical performance system structure and full-life-cycle simulation monitoring. At the

From 2024 to 2025 the Company continuously achieved the IRIS system silver performance level. As of the end of the reporting period the same time the Company strengthens product quality re-inspection through third-party testing institutions

Company has obtained ISO 9001 Quality Management System Certification IRIS ISO 22163 International Railway Industry Management and professional resources. Through this dual (internal and external) testing and screening process we

System Standard Certification and EN 15085 Railway Vehicles and Components Welding Standard System Certification maintaining the ensure that the performance indicators of every batch of products leaving the factory strictly comply with

effective operation of these quality systems. national/international standards industry standards and internal control requirements which safeguard

product quality.

31 32Evergreen Tech Innovation Empowering Growth EVERGREEN TECHNOLOGY ESG

Product Recall

Employee Training To further strengthen the effectiveness of quality control and continuously improve the quality awareness

and capabilities of all staff CET has established a hierarchical categorized accurate and efficient quality

CET has formulated the Non-conforming Products Control Program to strictly prevent defective products from entering the market

training system. Specialized external training is provided for production team leaders and middle manage-

effectively building brand reputation and supporting steady business development. The Company specifies that all departments have an

ment each function to enhance their overall quality control capabilities. Meanwhile internal training on

obligation to identify non-conforming products and provide timely feedback to the Quality Department. Meanwhile non-conforming

quality management and product quality control is organized regularly. Quality issues are analyzed and

products are categorized and managed based on safety environmental protection flame retardant requirements quality hazards and

summarized periodically to formulate and implement precise improvement measures comprehensively

product structure with targeted handling measures such as return rework or scrapping. During the reporting period no product recall

improving the quality competence and control level of all employees and solidifying the personnel founda-

events occurred.tion for quality improvement. In 2025 training hours related to product quality totaled 5106 hours.Changzhou Evergreen Technology Product Recall Process

Technology Empowered Manufacturing

Recall Customer complaint/Internal Organize project

Procedure discovery of non-compliance team review

The Company actively promotes the optimization and innovation of manufacturing processes empowering the upgrade of full-life-cycle

product quality management through intelligent manufacturing to continuously enhance the efficiency of the entire quality management

process.The Company integrates PLM software to support quality control in the R&D and design stages and uses Yonyou ERP software to achieve

real-time tracking of material control throughout the production process covering key aspects such as procurement and warehousing.By combining digital technology with core production equipment like CNC machine tools CET implements integrated control over all

Recall Obtain customer Issue recall notice

stages of the product lifecycle including R&D production planning procurement manufacturing and warehousing. We strive to create consent to customers

a fully intelligent production environment where hardware equipment is networked and production data is synchronized in real-time. This

builds an efficient transparent and controllable intelligent workshop promoting the quality and efficiency of control in all steps and

supporting the effective implementation of full-life-cycle quality management. CET was recognized as a "2024 Changzhou Intelligent

Manufacturing Workshop" and was further recognized as "2025 Changzhou Rolemodel Smart Workshop".CET Intelligent Workshop Highlights: Repair

Inspection Delivery

Intelligent Manufacturing Capability Maturity Level: Grade 2 Physical

review Rework

Level of integration of dualization: Grade III

Industrial Information Security Diagnosis: Grade II

Scrap handling

Recognized as 2024 Changzhou Intelligent Manufacturing Workshop

Recognized as 2025 Changzhou Rolemodel Smart Workshop

To achieve full-process traceability and strengthen the quality control loop the Company has established a product traceability system

and formulated the Labeling and Traceability Control Procedure to follow the standardized product identification management. By

applying standardized labels to products the Company prevents the mixing or misuse of different batches and statuses ensuring that

the entire process from production and inspection to delivery can be accurately traced during quality audits or troubleshooting.The Company specifies that identification methods include material identification cards tags and engraving. Labels must contain key

Intelligent Workshop information such as the Company name or logo and part number/model. Chemicals like glue and paint must additionally be marked with

production dates and expiration dates providing support for full-life-cycle traceability and completing the quality control loop.

33 34Evergreen Tech Innovation Empowering Growth EVERGREEN TECHNOLOGY ESG

Metrics and Targets 3. Management of Impacts Risks and Opportunities

Targets 2025 Progress

Intellectual Property Protection

Customer Satisfaction ≥95% Achieved

CET attaches great importance to intellectual property (IP) protection and has formulated institutional

documents such as the Intellectual Property Compliance Management Manual and the Compendium

No more than 5 customer complaints per month Achieved

of Intellectual Property Procedures and Systems clarifying responsibilities processes and require-

ments for IP protection. In 2025 the Company successfully completed the recertification of the GB/T

The rate of products passing the first inspection ≥98% Achieved 29490:2023 Intellectual Property Management System strictly following the requirements of the new

standard. Dedicated personnel are assigned to handle patent applications and maintenance. Further-

more confidentiality agreements are signed with core employees to comprehensively safeguard the

security of the Company's core technologies providing a strong support for the orderly conduct of R&D

activities.To enhance the IP awareness and professional capabilities of all staff the Company conducts IP-related CET GB/T 29490:2023 Intellectual

training for relevant personnel popularizing IP protection knowledge and standardizing IP management Property Management System

Certification

Driving Innovation processes to promote the regular and standardized implementation of IP protection work.

1. Governance

CET attaches great importance to R&D and innovation as the driving forces for development. We have formulated systems such as the

Research and Development Innovation Project Management System and Research and Development Project Initiation Approval

Procedures as well as the Implementation and Incentive Management System for Achievement Transformation. We have implement-

ed a "Monthly Star" award policy and in principle holds an annual science and technology conference. By providing hierarchical rewards

it motivates employees for innovation and provides a solid guarantee for an orderly R&D progress.CET Intellectual Property Training On-site

To ensure the implementation of R&D systems and the efficient progress of R&D work the Technology Department as the core R&D

department comprehensively coordinates the planning and promotion of various R&D tasks and intellectual property protection-related

work building an R&D management system with clear responsibilities and high-level synergy.Industry-University-Research Collaboration

As of the end of the reporting period CET has been successfully recognized as a "National High-tech Enterprise" "Provincial Technology

Center" "Provincial Specialized and Specialized New Enterprise" and the "Assembled Decoration Engineering Technology Innovation CET continues to solidify the foundation and deepen the effectiveness of collabo-

Center of Jiangsu Provincial Department of Housing and Urban-Rural Development". ration. We have formulated the Management System of Industry-University-Re-

search Cooperation and are fully equipped with various R&D equipment and

talents. We have established a long-term and stable strategic partnership with

Hehai University to achieve complementary advantages and synergistic innovation.

2. Strategy

In 2025 CET further expanded the boundaries of industry-university-research

collaboration. The project "Research and Development on the Safety of the Cab

Based on the accumulated mature applications of the Company's lightweight sandwich composite products in rail transit construction and

Partition Wall System" jointly conducted with Chengdu University has been

other fields linked to long-term development strategies CET actively expands technical application boundaries and taps into the potential

successfully implemented. An exchange and matchmaking meeting was held with Visit by the "Jiangsu Advanced Bio- and Chemical

of emerging tracks. We actively collaborate with universities to conduct industry-university-research synergistic research exploring the

the "Jiangsu Advanced Biological and Chemical Manufacturing" Collaborative Manufacturing" Collaborative Innovation Center

integrated R&D of high-performance recyclable materials and digital/intelligent applications. Simultaneously guided by market demands

Innovation Center to find cooperation points in cost-effectiveness lightweigh and

we continue to explore diversified innovation directions for our products solidifying the strategic foundation for multi-field technical layout.light-emitting/heat-generating materials advancing the Company's R&D and

innovation capabilities across multiple dimensions.

35 36Evergreen Tech Innovation Empowering Growth EVERGREEN TECHNOLOGY ESG

New Business Directions Stainless Steel Seat Forming Technology

CET adheres to the business goal of "Based on Sandwich Composite Innovation Aiming for Cross-Industry Application.". We actively Uses stamping integrated welding and welding-bonding composite processes to independently develop double-sided

respond to national industrial policies such as energy conservation environmental protection green and low-carbon development embossed stainless steel integrated seats which meet both aesthetic and functional needs while optimizing structure for

lightweight and prefabrication practicing the concept of sustainable development. At the technical R&D level the Company focuses on strength and appearance.new processes and products for lightweight sandwich composite materials exploring modular integrated and prefabricated innovation

paths to solidify core technical barriers. At the market expansion level while consolidating advantages in existing core markets the Compa-

ny is actively extending into new application fields such as cruise ships and special vehicles while simultaneously exploring international

markets to strive to become a world-leading manufacturer of high-quality lightweight sandwich composite products. Interior Ceiling Assembly Technology

R&D of New Products during the Reporting Period Adopts integrated and modular modes to develop standardized and functional assembly technology efficient production lines

and quality control systems to achieve high-precision manufacturing.High-safety and Reliable Escape Door Lock

Suitable for subway vehicles with escape doors; features strong adaptability to extreme environments reliability during emergen-

cies and power outages and cost optimization for both new and old models.

4. Metrics and Targets

High-durability Panic Bars

Targets 2025 Progress

Made of 0Cr18Ni9 material high-quality surface treatment precision durability and excellent fire resistance.

2024-2025: Innovate and develop new products based on R&D Investment: RMB 30.1321 million accounting

existing leading products to stabilize growth points. for 6.24% of main business revenue.Modular Heated Floors 2026-2027: Deepen domestic market presence and R&D Personnel: 118 people accounting

expand international markets; product R&D should for 13.87% of total employees.Uses a modular structure combining a heating system with sandwich composites to achieve lightweight high-efficiency and keep pace with modern needs and lead the sub-industry.Added 12 new patents bringing the total number of valid

intelligent flooring with high thermal efficiency low energy consumption and easy assembly/disassembly for maintenance.

2028-2029: Further embed digitalization and AI into design patents to 156 including 27 invention patents and 129

R&D manufacturing maintenance services supply chain utility model patents

management and products to support sustainable

development. Accumulated a total of 17 software copyrights

Electric Folding Seats with Anti-pinch Function and Unified Vehicle Control

Features a unified vehicle control design anti-pinch feedback mechanism and modular structure. Integrated with subway vehicle

terminals it enables unified folding/unfolding passenger protection and convenient maintenance.Side Walls with Integrated Wireless Charging

Uses a replaceable unit design for easy maintenance and a simple reliable structure. It offers fireproofing sound insulation and

a long service life while the integrated wireless charging enhances passenger comfort.

37 38Evergreen Tech Innovation Empowering Growth EVERGREEN TECHNOLOGY ESG

In 2025 with refined service system high product quality and efficient response capabilities CET received letters of appreciation from

Creating Customer Value several partners. These letters highly praised our technology and professional and attentive full-process service fully affirming the efficient synergy and successful outcomes achieved during cooperation.Selected Letters of Appreciation:

1. Customer Service System

CET's customer base spans multiple countries worldwide and all regions in China. To ensure service quality and satisfy customers' needs

CET has formulated standardized institutional documents such as After-sales Control Procedure and Customer Satisfaction Control

Program. CET has also established a regular feedback mechanism from receiving requests through dedicated account managers online

channels to regular return visits. This forms a "Receipt - Registration - Processing - Feedback - Review" closed-loop comprehensively

safeguarding service levels. In 2025 the Company's customer satisfaction reached 97.36% up 1.5% year-on-year and the complaint

resolution rate reached 100% winning customer recognition through proven capability.Shentong ALSTOM ALSTOM Sifang ALSTOM CAF CRRC Hangzhou Vehicle

Appreciation Letter Appreciation Letter Appreciation Letter Appreciation Letter Appreciation Letter

CRRC Suzhou Vehicle Chengdu Wucheng Decoration China Railway Construction Tianhao Construction China State Decoration

Phase Actions Appreciation Letter Engineering Co. Ltd Engineering Group Co. Ltd Group Co. LTD Group Company Limited

Appreciation Letter Appreciation Letter Appreciation Letter Appreciation Letter

Continuously develop and upgrade new products according to the most cutting-edge market information

so that the Company's technology and products can be adapted to the latest needs of users and improve

Pre-sales customer stability and adhesion.Customer credit evaluation management realizing the prediction and assessment of credit risk.Timely response to customer needs solve the use of difficult problems. 2. Responsible Marketing

During delivery Credit operations management.CET upholds its commitment to responsible marketing. Centering on customer rights and interests CET has formulated the Labeling and

Develop the Customer Complaint Statistics Form and resolve customer complaints according to regulations. Traceability Control Procedure. Through multiple identification methods we ensures that information for every product including core

parameters and batch info. is clearly traceable. This ensures that clients and end-customers can easily access key information such as

Customer satisfaction surveys and development of corrective and preventive measures based on comments safety environmental compliance and material identification. Furthermore key social and environmental performance metrics are clearly

After-sales and suggestions made by customers. presented in the ESG report to help customers make informed purchasing choices.Accounts Receivable Monitoring.

3940

Domestic International

Partners PartnersEvergreen Tech Innovation Empowering Growth EVERGREEN TECHNOLOGY ESG

3. Information Security Management

CET attaches great importance to information security management and is committed to managing confidential information responsibly

as a vital part of corporate governance and sustainable development. The Company has formulated the IT Management System and the

Network Emergency Response Plan establishing a comprehensive information security management system to ensure the security and

stability of information systems. A Computer Information System Security Protection Working Group has been established to handle

network emergencies ensuring rapid response and effective measures during security incidents. By defining processes for the acquisi-

tion allocation maintenance and scrapping of IT assets the Company standardizes the management of hardware and software assets

ensuring the rational use and protection of information.Emergency Measures for Network Incidents：

Website Management

and Security Measures Data Backup and Disaster Recovery

Websites are equipped with information auditors and

security managers Established sound mechanisms for timely backup of

important data and disaster recovery

Strict implementation of computer network security

management system

Standardized management of internet access locations

such as office and computer room

Security Measures for

Dedicated personnel and log retention for Computer Network Equipment

internet-connected computers

Ensure effective fire theft lightning and unauthorized

access prevention for computer network equipment

Prevention and Handling of Harmful

Information and Malicious Attacks All confidential computers are strictly prohibited from

accessing the international internet following the

Information Analyst in each department acts as the principles of dedicated networks machines personnel

first line of defense promptly deleting harmful and usage and being physically isolated

information after preserving original data

The IT department serves as the second line of Computers connected to the international internet must

defense responsible for monitoring and auditing all not store files involving state secrets work secrets or

information promptly handling harmful information trade secrets

41 4203Evergreen Ecology Green and ﹙1﹚ Enhancing Environmental Management 45

Low-Carbon Development ﹙2﹚ Advancing Green Operations 49

﹙3﹚ Addressing Climate Change 53

﹙4﹚ Upholding Compliance Standards 58

Key Topics Highlight Performance/Major Strategies

·Environmental Management ·Obtained ISO 14001 Environmental Management System and ISO

50001 Energy Management System Certifications

·Energy Management ·Purchased 3418 MWh of GECs and 181 tonnes of forestry carbon

credits

·Water Management

·Used renewable energy equivalent to 467.28 tce

·Waste Disposal

·Total GHG emissions (market-based) reached 1860.36 tCO2e down

·Climate Response 50.22% year-on-yearEvergreen Ecology Green and Low-Carbon Development EVERGREEN TECHNOLOGY ESG

Enhancing Environmental Management Risk Type Existing Risk Prevention Control and Emergency Measures

Workshops warehouses and office areas are equipped with fire extinguishers indoor fire hydrants

emergency lighting fire alarms and emergency pumps. Main workshops are equipped with lightning

protection and anti-static facilities.Fire and

1. Governance Explosion The factory area has outdoor fire hydrants.

The hazardous waste storage area is equipped with fire extinguishers sandboxes collection trenches and

CET consistently adheres to the concept of green development strictly complies with laws and monitoring cameras.regulations such as the Environmental Protection Law of the People's Republic of China and has

formulated internal documents such as the Environmental Occupational Health and Safety

Rainwater outlets have been established.Management Manual. The Company implements a General Manager responsibility system where

the General Manager clarifies management responsibilities across all departments and provides Leakage An emergency accident pool of approximately 270m3 has been set up in all factories.necessary resources for environmental and occupational health and safety operations. The Compa-

ny has passed GB/T 24001-2016 Environmental Management Systems and ISO 14001 Environmental Exhaust gas treatment facilities and sewage treatment stations have been installed.Management System Certifications. In 2025 through third-party auditing CET was certified compli-

ant with the GB/T 24001-2016 system. CET was awarded the 2025 "National Green Factory".ISO 14001 Environmental CET has established a responsibility system for hazard identification and rectification combining annual routine and special inspections

Management System Certification

to promptly discover and rectify environmental hazards. In 2025 the Company completed its hazard identification and rectification work

and will continue to improve hazardous waste management facility maintenance and employee training striving to reduce environmen-

tal risks and ensure operational and environmental safety.

2. Strategy

To integrate environmental protection into all operational activities the Company formulated the Environmental Protection Objectives

CET regards environmental management as a vital pillar of sustainable development striving to achieve harmonious coexistence with and All-Staff Responsibility Statement. Through systematic management and full participation environmental goals are broken down

nature in its operations. We commit to complying with all environmental regulations and aim to continuously reduce our environmental to each department and position. All employees are required to strictly abide by environmental regulations in their daily work and actively

footprint by establishing a comprehensive and forward-looking environmental management system. We pursue the maximization of participate in training and improvement activities to achieve continuous enhancement of environmental performance striving to become

resource efficiency and ecological benefits to create long-term environmental value for our stakeholders. During the reporting period an industry leading example for resource conservation and environmental friendliness.the Company's total environmental protection investment amounted to RMB 8.3194 million.Environmental Emergency Management

To prevent and reduce the occurrence of emergent environmental incidents and mitigate their consequences CET formulated the

3. Management of Impacts Risks and Opportunities Emergency Plan for Environmental Incidents further improving the procedures for emergent environmental pollution events. The

Company established a "three-tier structure" emergency rescue team and clarified the responsibilities of each tier. Based on the imple-

mentation of the plan the Company evaluates the effectiveness of the emergency plan at least every three years. During the reporting

Environmental Risk Identification period no major environmental incidents occurred at CET.CET regularly conducts environmental risk assessments and implements corresponding prevention and control measures for identified

risks continuously improving the Company's environmental risk management. The Company has established a comprehensive account-

ability system for hazard identification and rectification extending from the primary person in charge to every operator. We organize the

formulation and implementation of monitoring responsibilities for all staff creating a mechanism where everyone participates in identify-

ing environmental hazards. We supervise and inspect environmental safety work to eliminate accident hazards in a timely manner.

45 46Evergreen Ecology Green and Low-Carbon Development EVERGREEN TECHNOLOGY ESG

Cleaner Production

CET Emergency Commander-in-Chief: General

Rescue Team Manager of Evergreen Technology CET has established a regular internal environmental audit mechanism to systematically identify resource consumption nodes and

environmental impact links throughout the product life cycle. We have formulated a Green Factory implementation plan to continuously

promote improvements in cleaner production.Deputy Commander-in-Chief:

Security Supervisor

Pro-Environmental Culture Training

To comprehensively improve the environmental awareness and professional capabilities of all staff CET has systematically built a

Environmental Emergency Response Logistics Evacuation Emergency Support Emergency Monitoring normalized pro-environmental training system. By regularly conducting special training on environmental laws and regulations combined

Technology Leader Team Leader Team Leader Team Leader Team with on-site practical drills we ensure that employees deeply understand environmental requirements master their environmental

responsibilities and cultivate habits of active participation in environmental management creating a positive atmosphere for all employ-

Equipment Quality Department Procurement

EHS Specialist Supervisor Manager Department Manager IT Specialist ees to jointly build a green enterprise.Case CET Conducts Environmental Training

CET regularly organizes training public announcements and drills to improve the environmental incident handling capabilities of the CET conducted a special training session themed "Environmental

emergency rescue team the public and all employees. Through various media and formats the Company widely publicizes the Regulations and Pollution Prevention". On-site trainers systemati-

emergency plan and related environmental laws and regulations to the public (neighboring enterprises communities populated areas cally explained the latest national and local environmental protec-

etc.). The Company organizes one practical drill annually to test evaluate and maintain emergency response capabilities. tion laws and regulations corporate environmental responsibility

requirements and key points for identifying and controlling

Case common pollutants using vivid graphic materials. This training CET Conducts Hazardous Waste Leakage Emergency Drill

effectively improved the environmental legal awareness and practi-

cal operation capabilities of all staff laying a solid knowledge

In 2025 CET organized an emergency drill for environmental incidents. The drill simulated a leakage of waste tank liquid in foundation for building a green production system and continuously

the hazardous waste warehouse covering the entire process of accident reporting emergency response on-site disposal improving the Company's environmental performance.and hazardous waste collection. Through practical operations the feasibility of the emergency plan and the collaboration of

the emergency team were effectively tested. Employee awareness and response capabilities for emergent environmental

incidents were enhanced. This drill further strengthened the Company's environmental risk prevention and control capabili-

ties and lied a practical foundation for continuously improving environmental management levels.

4. Metrics and Targets

Metrics and Targets 2025 Progress

Compliant Operations: Ensure all operational activities continuously comply with national and

local environmental laws and regulations; zero major environmental violations. Achieved

Risk Control Rate: 100% implementation rate of control measures for identified major environ-

mental risk points (e.g. hazardous waste storage exhaust outlets) with 100% digital tracking. Achieved

Certification: Continuously review the effectiveness of the environmental management system. Achieved

Capacity Building: Complete professional training for 100% of personnel in key environmental

Emergency Drill Photos Achieved

positions annually and conduct basic environmental awareness training for all staff.

47 48Evergreen Ecology Green and Low-Carbon Development EVERGREEN TECHNOLOGY ESG

Recyclable Packaging

Advancing Green Operations In the packaging stage principles of resource optimazation are followed. Reusable steel turnover boxes are used instead of

disposable wooden packaging reducing wood consumption and transportation costs. The Company uses the ERP system

for full-process statistics and cost analysis of packaging materials and optimizes tooling designs—such as using projector to

aid to draw lines on composite boards—to improve material efficiency and drive the packaging system toward a circular

model.

1. Green Products

CET takes the "Driving Green Innovation Designing for the Future" mindset and promotes green design throughout the entire product Product Usage and Recycling

life cycle covering five key stages: green design eco-friendly materials green production recyclable packaging and product usage and

recycling striving to implement environment-friendly strategies at every stage of product development. The products consume no energy during use and cleaning methods are simple and environment friendly. Damaged parts

can be repaired on-site to reduce resource waste. After scrapping we maximize material reuse through disassembly and

classified recycling. Non-recyclable parts are treated in an environment friendly manner according to solid waste disposal

Product Design procedures.In terms of product design CET prioritizes environmental attributes considering performance quality cost economic practi-

cality functionality and aesthetics to ensure products are both environment-friendly and customer-satisfactory. The Compa-

ny advocates for green and lightweight design simplifies product structures and processing flows to achieve noise reduction

and heat insulation and retention further reducing energy consumption. Additionally the Company focuses on extending the CET's aluminum honeycomb composite panels

product lifetime reducing environmental impacts during the usage through design optimization. For example the closed successfully passed annual surveillance audits for

shaft hole design used in revolving doors significantly extends the shaft's service life reducing replacement frequency and Environmental Product Declarations and Carbon

resource waste. Footprint certifications and keep improving

carbon transparency and market competitiveness.Eco-friendly Materials

Priority is given to materials that are environment-friendly recyclable and highly compatible with the environment. All raw Annual Surveillance Audit for Environmental Product Declarations and Product Carbon Footprint

of Aluminum Honeycomb Composite Panels

materials must pass RoHS REACH and other standard tests and meet international fire safety codes such as EN45545-2/3

and NFPA130.Case Green Products — PET Floors and PET Heated Floors

PET floors and PET heated floors use recyclable PET materials as

Green Production raw materials. The PET core material utilizes r-PET technology

manufactured from 100% recycled PET. Upon decommissioning

Through multiple initiatives such as LED lighting renovation distributed photovoltaic (PV) power stations solar powered these products are 100% recyclable ensuring circular sustain-

street lamps and equipment electrification CET continuously reduces energy dependence and carbon emissions in produc- ability.tion. Through intelligent manufacturing high efficiency of material utilization is achieved—implementing nesting for irregular

parts has increased the utilization rate of aluminum plates and profiles from 85% to 96%.

49 50Evergreen Ecology Green and Low-Carbon Development EVERGREEN TECHNOLOGY ESG

2. Energy Management CET Energy Consumption2 Data for the Reporting Period：

CET continuously optimizes its energy management system strictly complies with laws and regula- Category Unit 2025 Data

tions such as the Energy Conservation Law of the People's Republic of China and has formulated

Gasoline Tonnes 45.00

internal systems like the Resource and Energy Management Regulations and the Management

Procedures for Reducing Energy Consumption and Greenhouse Gas Emissions. We solidly Diesel Tonnes 7.20

promote energy conservation and emission reduction to effectively reduce the environmental impact

Natural Gas 10000 m3 17.54

of production and operation. The Company implements a three-tier management system—company

workshop and team. An Energy Management Leading Group and its part-time management body Purchased Electricity MWh 5869.11

have been established; relevant departments have set up energy management groups; and

workshops have designated energy administrators forming a company-wide energy management Total Energy Consumption tce 1011.02

network. CET has passed ISO 50001 Energy Management System certification. Energy Intensity tce / RMB 10000 Revenue 0.02

To achieve sustainable operations and support the overall emission reduction strategy CET has set ISO 50001 Energy Management

clear energy efficiency improvement targets. We are committed to systematically reducing energy System Certification

consumption per unit of output value and have established a clear energy intensity optimization goal1:

by 2028 we plan to achieve a 4.1% reduction in energy consumption intensity compared to the base year. In 2025 the energy consumption 3. Water Resource Management

intensity met the annual target laying a solid foundation for overall energy efficiency improvement.CET keeps improving water resource management system integrating water saving into day-to-day refined management. We formulat-

CET is promoting the construction of an Energy Management Center platform to achieve real-time collection and intelligent monitoring of ed the Resource and Energy Management System specifying measures and responsibilities for water management to ensure continu-

electricity usage data for production and environmental protection equipment. By correlating and analyzing the energy consumption ous optimization.dynamics of key equipment the system can automatically identify operational anomalies and trigger early warning mechanisms providing

data support for refined energy efficiency management. Under the guidance of sustainable development CET continues to promote The Company has posted "Save Water" signs at all water points and conducts regular inspections to eliminate dripping and ensure leaks

energy-saving technological innovation and the application of clean energy. are reported and repaired promptly. Water-saving sanitary fixtures—including ceramic core faucets low-level tanks and sensor

faucets—are fully utilized to eliminate constant water flow. Additionally the Company uses water pipes with smooth inner walls and

Through systematic measures such as introducing high-efficiency production equipment implementing architecture energy-saving low-resistance valves to reduce water loss and prevent leakage. As of the end of the reporting period the Company had installed 66

renovations and constructing PV power generation projects we continuously tap into the energy-saving potential across the entire process water-saving appliances and achieved a water-saving rate of over 20% compared to conventional faucets. By replacing appliances and

and systematically improve energy use efficiency. During the reporting period CET generated approximately 4.3982 million kWh of PV optimizing cistern use the Company has significantly reduced water consumption.electricity with self-consumption reaching 2.4965 million kWh. The use of renewable energy was equivalent to 467.28 tce.Energy Saving Measures 4. Biodiversity Protection

All factory street lamps were replaced with solar street lamps and internal lighting was

Energy-saving Lighting： CET systematically promotes ecological protection through the Management and Control System for Biodiversity Conservation. The completely upgraded to energy-saving equipment achieved a 100% configuration rate of

energy-saving lamps. Company specifies requirements to avoid damaging ecosystems during production and living activities. We commit to ensuring that our

operations do not negatively impact ecosystems and biodiversity. The General Manager is responsible for resource allocation the HR

and Administration Center manages internal publicity and each department executes relevant tasks.Green Power Usage： PV projects were constructed in phases to provide a clean power supply for the factory.The Company protects the surrounding ecological environment through soil protection atmospheric pollution control energy conserva-

Production Equipment

Diesel forklifts were fully replaced with electric vehicles.Energy Substitution： tion emission reduction and enhanced wastewater management. Within the factory area CET cultivates a variety of flowers and plants

to maintain a good environment.. Through employee training we guide employees to abide by laws and regulations protect biodiversity

Waste Heat Recovery Waste heat generated during production is recovered through closed insulation design and and prohibit the killing or eating of wild animals and the illegal felling of protected plants. We encourage employees to learn about

and Utilization： intelligent temperature control systems to improve energy efficiency. environmental protection understand the damage of invasive species and participate in public welfare activities to contribute to the goal

of harmony between humans and nature.

1 Scope of goal setting: Headquarters and subsidiary JED. 2 Total Energy Consumption including Gasoline Diesel Natural Gas and Purchased Electricity.

51 52Evergreen Ecology Green and Low-Carbon Development EVERGREEN TECHNOLOGY ESG

Addressing Climate Change Risk/ Impact ImpactType Risk Description CountermeasuresOpportunity Cycle Intensity

Physical Acute Extreme weather (floods Medium to Medium Enhance the disaster resilience of infrastruc-

Risks Physical droughts hurricanes etc.) Long-term ture such as reinforcing factory buildings and

1. Greenhouse Gas Management Risks may directly damage constructing flood control facilities;production facilities supply

chains and logistics. Develop contingency plans to ensure rapid

To systematically address climate change challenges and deeply integrate green low-carbon development into strategy and operations resumption of production in the event of a

CET has established a top-level governance structure with clear responsibilities and high synergy. The Company formed an Energy disaster;

Saving and Carbon Reduction Leading Group with the General Manager as the group leader to lead climate actions and the sustainability

Diversify supply chains to reduce reliance on a

development and the Vice General Manager as the deputy leader. Core members include heads of major functional departments ensur-

single region or supplier.ing full coverage and cross-functional collaboration of climate issues at the decision-making level.The Company has passed ISO energy management system certification and established management mechanisms for reducing energy

consumption and carbon emission. Data analyses are conducted regularly to enable timely correction root cause analysis and imple- Chronic Rising average tempera- Medium to Medium Implement an employee health management

mentation of carbon reduction measures. Furthermore a systematic internal audit system has been established to independently audit Physical tures and changing Long-term program and provide heatstroke prevention

energy consumption and carbon emission data ensuring authenticity and process effectiveness thereby supporting the CET's green Risks precipitation patterns may and cooling measures.transformation goals. affect equipment efficien-

cy employee health and Improve energy efficiency to reduce energy

energy consumption. costs resulted from increased cooling

demands.

2. Risk and Opportunity Identification

Policy and Changes in regulations Medium Medium Conduct carbon footprint assessments to

CET established a systematic risk assessment mechanism to monitor and identify the impact of climate change on business operations Transition

Risks Legal Risks (e.g. carbon taxes) may -term identify opportunities for emissions reductions;

supply chain management and the market. Meanwhile we take proactive measures including optimizing energy structures improving directly increase carbon

resource efficiency and developing low-carbon products to mitigate climate-related risks and seize transformation opportunities. emission costs. Invest in low-carbon technologies and clean

energy such as renewable energy and carbon

To systematically assess the potential impact of climate-related risks and opportunities on business development and strategy we capture and storage (CCS) technologies;

conducted multi-dimensional climate scenario analysis. This was done with reference to mainstream international and domestic climate

Optimize production processes to improve

information disclosure frameworks combined with authoritative research models from NGFS (Network for Greening the Financial energy efficiency.System) and IPCC (Intergovernmental Panel on Climate Change).SSP1-1.9：CO2 emissions reach net zero by 2050.NZE 2050. Changes in Consumers favor low- Medium Medium Conduct life cycle assessments to identify a

Low-carbon Consumer carbon products; failure to -term product's carbon footprint;

Scenarios NZE 2050：A pathway to reduce global energy-related CO2 emissions to net zero by 2050. Demand provide them may lead to

market share loss. Develop low-carbon products such as those

made from renewable or recyclable materials;

SSP5-8.5：CO2 emissions are projected to double from current levels by 2050.High-carbon Strengthen green marketing efforts to

Scenarios STEPS：Stated Policies Scenario (STEPS) including policies that have been formally proposed but not yet enhance the brand's eco-friendly image.implemented and other official strategic documents indicating future directions.

53 54Evergreen Ecology Green and Low-Carbon Development EVERGREEN TECHNOLOGY ESG

Risk/ Impact Impact Route 1 Energy-saving Renovation of Production Processes

Type Risk Description Countermeasures

Opportunity Cycle Intensity

Efficiency Upgrades：Intelligent upgrades for core equipment to optimize functions and reduce failure rates; replacement

with high-efficiency motors and equipment.Opportunities Technical Improving product Medium Medium Increase investment in the research and

Innovation environmental perfor- -term development of new technologies and

Opportuni- mance and energy materials;

ties efficiency through R&D of

Waste Heat Recycle：We upgraded the exhaust systems of painting lines spray booths and FRP production lines to

new materials and smart Introduce advanced equipment to improve

manufacturing. production efficiency; recover heat.Strengthen employee training and recruitment

to foster a spirit of innovation among staff.Route 2 Eco-design for Product Life Cycle

Reputation Building a positive Long Low Promote environmental protection concepts

Opportuni- corporate image through -term and enhance brand awareness and reputation; Lightweight and Modular Design：Reducing weight through material substitution and structural optimization; using modu-

ties pro-environmental lar design to improve material utilization.measures to gain trust Develop eco-friendly products and optimize

and support. production processes;

Strengthen communication with stakeholders Eco-friendly Materials：Prioritizing non-toxic recyclable raw materials; promoting green technologies to improve

and actively address their concerns;

recyclability.Participate in industry collaborations and share

experiences.Local Procurement and Low-carbon Supply Chain：Increasing the proportion of local procurement to reduce transport

emissions; establishing a green supplier evaluation system.

3. GHG Reduction Actions Route 3 Energy Structure Transformation

In promoting green development CET always regards low-carbon transformation as a core strategy for sustainable development. We

Scale Application of Renewable Energy：Constructing multi-phase PV power stations to maximize solar power use; install-

realize that achieving carbon neutrality is not only a national strategic requirement but also an internal need for the Company to face the

ing solar street lamps.future and build long-term competitiveness. To this end we formulated the Energy Consumption and Greenhouse Gas Emission

Reduction Management System systematically planning and implementing a series of reduction initiatives. From production process

optimization and product innovation to energy structure transformation and carbon management mechanism construction we are

gradually building a GHG management system covering the entire value chain. In 2025 CET was recognized as a municipal "Near-Ze- Green Electricity Usage：Actively purchasing green electricity.ro-Carbon Factory".Our emission reduction pathway evolves along four key routes:

Clean Energy Substitution：Clean energy renovation for heating systems; fully replacing diesel forklifts with electric ones.

55 56Evergreen Ecology Green and Low-Carbon Development EVERGREEN TECHNOLOGY ESG

Route 4 High-quality Carbon Offset Practices Upholding Compliance Standards

Carbon Offset：For residual emissions after voluntary reduction CET offsets through GEC trading and purchasing forestry

carbon credits. In 2025 the Company purchased 3418 MWh of GECs and 181 tons of forestry carbon credits.

1. Waste Management

CET systematically promotes waste management through strict classification compliant disposal and source reduction. The Company

strictly complies with standards such as Standard for pollution control on the non-hazardous industrial solid waste storage and landfill

(GB 18599-2020) and Standard for pollution control on hazardous waste storage (GB 18597-2023). We formulated the Hazardous Waste

Management System clarifying storage transportation and disposal processes to avoid secondary pollution. Solid waste from produc-

4. Metrics and Targets tion includes waste packaging scraps dust welding slag waste cutting fluid tank residues filter cotton waste rags/gloves activated

carbon waste drums sludge and domestic waste. General industrial solid waste (scraps honeycomb panels aluminum plates) is tempo-

CET actively responds to the national carbon peaking and carbon neutrality goals incorporating green and low-carbon development into rarily stored in dedicated warehouses and entrusted to a qualified organization for legal disposal. Hazardous waste (drums tank liquids

its core strategy and formulating clear quantifiable and phased GHG reduction targets. Through systematic management technological activated carbon) is collected and stored in hazardous waste warehouses for compliant disposal by professional organizations.innovation and continuous investment the Company promotes the low-carbon transformation of the entire value chain striving to

become a near-zero carbon benchmark in the field of rail transit interior materials. The Company established the "Guidelines for Product Decomposition Recovery and Circular Reuse". Upon scrapped products are

disassembled and classified. For instance usable aluminum panels are cleaned and polished for direct reuse while profiles and accesso-

In 2025 the Company's total GHG emissions (location-based) were 3480.32 tCO2e; total GHG emissions (market-based) were 1860.36 ries that cannot be directly reused are sold as recyclable scrap for comprehensive utilization.tCO2e down 50.22% year-on-year. The emission details are as follows:

GHG Category Unit 2025 Data

Scope 1 Emission tCO2e 547.17

Scope 2 Emission (Location-based) tCO2e 3114.15

Scope 2 Emission (Market-based) tCO2e 1494.20

Carbon Offsets tCO2e 181

Total GHG (Location-based) tCO2e 3480.32

Packaging Material Recycling and Reuse

Total GHG (Market-based) tCO2e 1860.36 During the reporting period CET achieved 100% compliant discharge of waste. The total waste discharge was 136.8 tonnes including

50 tonnes of domestic waste 85 tonnes of general industrial solid waste generated (65 tonnes recycled) and 66.8 tonnes of hazardous

waste.

57 58Evergreen Ecology Green and Low-Carbon Development EVERGREEN TECHNOLOGY ESG

CET Exhaust Reduction Measures:

2. Wastewater Management Source Control

Actively optimizing production processes and promoting eco-friendly coatings; established water-based paint production lines for

CET strictly adheres to the principle of "Collect by Category Treat by Quality" to systematically promote wastewater management. The

products unsuitable for powder coating using low-volatility raw materials to replace traditional solvents.Company's wastewater primarily consists of domestic sewage and industrial wastewater with the latter including rinse water from

surface treatment processes floor cleaning wastewater spray wash wastewater boiler circulation water and effluent from the purified

water production system. During the reporting period we utilized environmentally friendly pretreatment chemicals free of P and N to

reduce pollutant emissions in wastewater. End-of-pipe Treatment

CET's factory premises implement a separate storm and sanitary sewer system and the separation of stormwater and wastewater within Classified treatment based on exhaust characteristics.the facility has been fully implemented; stormwater is conveyed through stormwater pipes into the municipal stormwater network.Domestic wastewater and wastewater from floor cleaning are treated via on-site wastewater treatment facilities before being discharged

into the municipal sewer system. Production wastewater such as wastewater from product surface treatment and cleaning as well as Spraying Workshop：Organic gas is treated by "filter cotton + sodium hypochlorite spray + water spray + activated carbon adsorp-

wastewater from exhaust gas scrubbing is treated at the wastewater treatment plant. This production wastewater is combined with tion"; powder solidification gas uses catalytic oxidation; grinding gas is purified by "bag filters + activated carbon fiber adsorption".existing domestic sewage and treated to meet discharge standards before being discharged into the municipal sewer system ultimately

flowing to the Changzhou Riverside Wastewater Treatment Plant for centralized treatment. Production wastewater and domestic sewage FRP Workshop：Adhesive process gas is collected and treated by activated carbon fiber adsorption.are treated according to the principle of "Collect by Category Treat by Quality". The company conducts regular wastewater testing to

ensure compliance with discharge standards. Welding Workshop：Welding fumes are collected and purified in real-time by mobile purifiers.During the reporting period the Company achieved 100% compliant discharge of wastewater. Total wastewater discharge was 8090 Combustion Equipment：Burners and boilers use clean energy with emissions monitored for compliance.tonnes with COD emissions of 1.45 tonnes and ammonia nitrogen emissions of 0.16 tonnes.

2025

3. Exhaust Gas Management JED renovated the grinding room so that dust can be sprayed with

water before entering the filter press thus solidifying the dust.CET comprehensively reduces pollutant emissions from the production process through multi-level exhaust gas treatment measures. Reducing the area of the composite workshop makes it easier to

Currently the Company owns 7 sets of exhaust treatment devices including activated carbon adsorption units catalytic oxidation equip- collect and centrally process volatile substances such as adhesives

ment filter cotton + sodium hypochlorite spray + water spray + activated carbon adsorption systems bag filters two-stage high-efficien- and acetone thereby reducing air pollution.cy precision filters two-stage activated carbon adsorption devices and fume purifiers. These cover the treatment of welding fumes

organic waste gas and other pollutants. The Company conducts regular exhaust gas testing to monitor emissions and ensure compli-

ance.During the reporting period the company's exhaust emissions met 100% of the standards with emissions of volatile organic compounds

The Company systematically promotes exhaust emission control based on the principle of "Emphasizing both Source Reduction and (VOCs) at 0.316 tons sulfur oxides (SOx) at 0.035 tons nitrogen oxides (NOx) at 0.327 tons and particulate matter (PM) at 0.07 tons.End-of-Pipe Treatment". Emissions of all these pollutants showed a downward trend with SOx decreasing by 79.4% year-on-year NOx decreasing by 53.29%

year-on-year and PM decreasing by 85.23% year-on-year.

59 6004Evergreen Talent Harmonious ﹙1﹚ Advancing Workforce Diversity 63

Workplace ﹙2﹚ Enhancing Employee Well-being 66

﹙3﹚ Empowering Career Development 69

﹙4﹚ Safeguarding Employee Health 72

Key Topics Highlight Performance/Major Strategies

·Employee Rights and Benefits ·Formulated the Regulations on the Prohibition of Child Labor

Use clarifying key prevention and remediation measures

·Employee Diversity ·Female employees account for 21.97% of the workforce

·Occupational Health and Safety ·The return-to-work rate and retention rate of employees on

parental leave both reached 100%

·Talent Attraction and Retention

·Total training duration reached 12765 hours with an average

·Talent Training and Development of 15 training hours per person

·Obtained ISO 45001 Occupational Health and Safety Manage-

ment System Certification

·No instances of occupational hazard factors exceeding

standards and no major occupational health cases occurredEvergreen Talent Harmonious Workplace EVERGREEN TECHNOLOGY ESG

Advancing Workforce Diversity By

Education 164 138 218 331

Level

Bachelor's High school and Junior high

degree or higher Associate's degree vocational school school and below

1. Labor Management

CET strictly abides by the Labor Law of the People's Republic of China the Labor Law of the People's Republic of China and other

relevant laws and regulations. We have formulated a series of human resource management systems such as the Recruitment Manage- By Employee 69 38 744

ment Regulations and the Employee Handbook. We sign labor contracts and pay social insurance in accordance with the law prioritizing Positionthe legitimate demands and rights of our employees. Based on the internal and external requirements for the company's development （Full-timeEmployees）

we scientifically predict and analyze the supply and demand of human resources amidst market changes. On this basis we formulate the Mid-to-senior management Entry-level management Frontline employees

overall Human Resource Management Plan and Program covering job establishment staffing education and training salary distribution

career development and human resource investment providing human resource guarantees and services for the company's overall

development strategy. During the reporting period no labor standard violations or administrative penalties related to labor arbitration CET highly values attracting and retaining talent and has formulated the Recruitment Management Regulations and Talent Introduction

occurred. Management Measures. It attracts talent from diverse backgrounds through multiple channels including on-site and online campus

recruitment social recruitment and talent introduction programs. The company innovates and explores efficient recruitment methods

As of the end of the reporting period the total number of formal employees at CET was 851 with 26.09% localized employees 16 actively connects with recruitment resources and strengthens its reserves of key positions and future talent. During the reporting period

veterans in service and 17 employees from poverty-alleviation areas. Data for all formal employees classified by ethnicity age gender the company hired a total of 168 new employees broken down by gender and age as follows:

education and function are as follows:

Company hired a total of new employees

By 829 22 By 50 69 36 13

Ethnicity Age

Han Other Ethnicities 30 and under 31 to 40 41 to 50 50 and above

By 122 46

By 156 210 255 230 Gender

Age

Male Female

30 and under 31 to 40 41 to 50 50 and above

The Company implements comprehensive employee retention measures across three dimensions: protection of rights growth empow-

erment and cultural cohesion effectively enhancing employees' sense of belonging. We have established the Employee Resignation

Management Regulations conducting thorough communication with employees intending to resign to understand their needs and

By 664 187 continuously optimize management. The Company builds a sound human resource planning system to effectively safeguard all legal

Gender rights reasonable compensation and benefits for employees. We have established a robust talent training and career development

system customized training content aligned with job requirements and opened up internal promotion channels to provide ample space

Male Female and resource support for career growth. to achieve mutual development of the enterprise and employees. During the reporting period

the Company's voluntary turnover rate was 16.5%.

63 64Evergreen Talent Harmonious Workplace EVERGREEN TECHNOLOGY ESG

2. Diversity and Empowerment

Case Consolidating “SHE” Power Leading Innovation and Fulfilling Mission

CET values employee diversity and equality and is committed to ensuring that employees will not be discriminated against bullied or

Under the guidance of the Provincial and Municipal Women's Federations

subjected to any unfair treatment based on gender skin color nationality ethnicity cultural background religious belief or family

Ms. Zhou Yinmei President of CET shared the company's journey of

situation during recruitment promotion and daily work. The company pledges to resolutely resist the employment of child labor or

upholding its commitment to industry technological innovation and global

forced labor. The company has formulated the "Management Regulations on Prohibiting the Use of Child Labor" which clearly outlines

expansion with female representatives from new economic organizations

the corresponding measures taken to prohibit the use of child labor and requires all internal staff and potential external contractors/sup-

nationwide during the "Voice of Magnolia" outreach event.. She demon-

pliers to refrain from using child labor in any position. Furthermore the company has signed a "Commitment Letter on Prohibiting the

strated the responsibility and commitment of female entrepreneurs to

Use of Child Labor" to prevent the employment of child labor as much as possible. During the reporting period the company did not

integrating personal ideals into national development and expressed her

experience any incidents of employing child labor or engaging in gender discrimination that violated labor standards.mission to build a world-class manufacturer that makes "Intelligent Manu-

facturing in China" shine internationally. This outreach event reflects CET's

Key Prevention and Remediation Measures for the Prohibition of Child Labor： social responsibility practices in empowering female leadership promot-

Prevention Measures Remediation Measures ing entrepreneurial spirit and proactively integrating into the national "Voice of Magnolia" Lecture Activity

development strategy showcasing the company's pursuit of sustainable

Immediately settle all wages for any mistakenly development and comprehensive value.Conduct strict verification of applicants checking ID

employed child labor.cards photos household registrations and other

information.Return the child labor to their place of residence and

ensure they are received by parents or guardians.Conduct a unified census of new employees within

one month and random spot checks thereafter as Provide support depending on the circumstances to

help the child continue their school education. Enhancing Employee Well-beingnecessary.CET advocates for gender equality and strongly supports the personal development of female employees. We strictly implement regulations

regarding maternity leave maternity leave and breastfeeding leave for female employees encouraging their participation in dialogue 1. Compensation Management

discussion and decision-making and creating more growth opportunities and possibilities for self-realization. In 2020 under the guidance

and support of the Changzhou Xinbei District Women's Federation the company established the "Evergreen Women's Federation." Through CET has established a scientific fair and incentivizing compensation management system aimed at protecting employee rights stimulat-

diverse activities and work we further enhance the work capabilities professional qualities and quality of life of female employees strength- ing organizational vitality and supporting sustainable development. Following the three principles of "Fairness Incentive Economy" the

en corporate cohesion promote corporate culture and contribute to improved corporate performance. During the reporting period we company has formulated systems such as the Compensation Management System Employee Incentive Management Regulations

conducted a questionnaire survey on sexual harassment of female employees to understand the healthy working environment of female and Performance Evaluation Management Regulations covering all employees. We design differentiated salary structures for manage-

employees and protect their rights. As of the end of the reporting period the return-to-work rate and retention rate of employees on mater- ment functional and front-line positions to balance internal equity with external competitiveness.nity leave were both 100% and the proportion of female employees in the company reached 21.97%.Employee compensation is deeply linked to performance. Monthly and annual performance evaluation results determine fluctuations

in performance pay and the distribution of excess incentives. A "reservoir" mechanism is also in place to link employee benefits closely

with the company's long-term business goals. Additionally the company offers a comprehensive welfare system including diverse

employee activities and enhances employees' sense of belonging and cohesion through annual performance evaluations and other

honor mechanisms.CET conducts regular performance evaluations and maintains open feedback channels providing positive or negative salary incentives

based on evaluation results. Employees who have objections to the process or results of their evaluation have the right to appeal to the

next higher-level supervisor or the HR and Administration Center during the evaluation period or within 5 working days after its conclu-

sion. Relevant leaders and the HR Center will review the process or results with the appellant and their direct supervisor and provide a

formal response. The HR Center archives the results and feedback. During the reporting period performance evaluations were complet-

ed for all employees.International Women's Day Activity

65 66Evergreen Talent Harmonious Workplace EVERGREEN TECHNOLOGY ESG

2. Employee Care We always care about the work and life of every employee recog-

nizing that each member is an indispensable part of our family.CET is committed to building a respectful trusting and supportive work environment. We not only focus on employee performance and Whether facing challenges at work or difficulties in life the

career growth but also value the physical and mental well-being and personal happiness of each employee. Through continuously company will provide warmth and support through organized

improving our compensation and benefits system providing diverse training and development opportunities organizing rich team visits and necessary assistance. During the reporting period we

activities and fostering an open and inclusive cultural atmosphere we strive to ensure that every employee feels a sense of belonging provided assistance to four employees facing difficulties investing

accomplishment and happiness in their work. We firmly believe that employee satisfaction and growth are the core driving force for the a total of RMB 4400.company's sustainable development. CET will continue to listen to its employees convey humanistic care and work hand in hand with all

employees to create a better future. The Company held the third meeting of the 2024 Employee Stock

Ownership Plan Management Committee on August 11 2025 the

fifth meeting of the Fourth Board of Directors’ Remuneration and

Benefits System

Appraisal Committee on August 21 2025 and the 13th meeting of 员工探望

Statutory Benefits: Social insurance (Pension Insurance Medical Insurance Unemployment Insurance Work Injury Insurance the Fourth Board of Directors on August 22 2025. These meetings

and Maternity Insurance) + Housing Provident Fund. reviewed and approved the Proposal on the Allocation of Reserved Shares under the Company’s 2024 Employee Stock Ownership

Plan authorizing the Company to allocate the reserved shares under the 2024 Employee Stock Ownership Plan. The Company plans to

Subsidized Work Meals. allocate 220000 reserved shares (equivalent to 1.76 million units) to 24 eligible participants at a purchase price of RMB 8 per share which

is consistent with the initial grant price. None of the participants are directors or senior executives of the Company and the source of

Various holidays and employee birthday greetings. funds is self-raised or personal funds of the employees. On September 22 2025 the 220000 shares of the company stock held in the

repurchase special securities account were transferred to the 2024 employee stock ownership plan account on September 19 2025

through a non-trading transfer.Diverse team-building activities.Honor Incentives: Monthly and annual excellence awards.

3. Democratic Communication

The Company strictly complies with the Trade Union Law of the People's Republic of China and relevant regulations formulating the

Constitution and Working Regulations of the Labor Union and the Rationalization Proposal Management Regulations to protect

employees' rights to join unions and engage in democratic communication. Our goal is to establish strong communication relationships

with employees and union representatives. To ensure employee opinions and suggestions are effectively conveyed and to understand

their needs the Company has established diversified communication channels and mechanisms. Through the trade union employee

representative meetings satisfaction surveys and suggestion boxes we encourage all staff to offer suggestions or appeals regarding

individual performance corporate management benefits and work environment. As of the end of the reporting period the company's

labor union covered 100% of its workforce.Marbled Silk Scarf Activity Fragrant Tablet Making Activity In 2025 we conducted an employee satisfaction survey and the employee satisfaction rate is over 98%. The survey covers aspects such

as departmental information employees' identification with the company's mission and values the physical environment of the

workplace team collaboration atmosphere and the quality of food and service in the cafeteria aiming to comprehensively understand

the current job satisfaction of employees.Employee Birthday Activity Spring Outing Team-building Activity

67 68Evergreen Talent Harmonious Workplace EVERGREEN TECHNOLOGY ESG

Through the implementation of the "Talent Introduction Plan" we actively recruit high-level and innovative professionals and offer

competitive compensation benefits and special subsidies. Simultaneously the company has systematically built an employee career

Empowering Career Development development support system where department heads serve as mentors. Starting from the completion of the probation period career

development talks are held to help clarify directions. We also promote the establishment of career development files for all staff and

conduct annual assessments of individual strengths and skills tracking progress in conjunction with the Employee Career Development

Plan. We encourage continuous learning and skills ramp-up closely linking performance results with promotions salary adjustments and

training resources to foster a healthy development atmosphere where "Promote the Capable Reward the Excellent". During the reporting

1. Employee Development period the company achieved 100% coverage of employee career development files and 100% coverage of new employee development

talks continuously supporting the mutual growth of employees and the organization.CET has built a systematic and diversified employee development system to provide every employee with a clear and sustainable career

growth path. The company has established a "vertical development channel" and a "horizontal expansion platform" covering three major

tracks: management technology and production to support employees in achieving promotion or cross-domain transformation based

on their own strengths and development aspirations. We not only define qualifications and review processes for each level through the 2. Employee Training

Promotion Management Regulations to ensure fairness and rationality of promotion but also emphasize the organic integration of

forward-looking talent recruitment and internal cultivation. CET has established a systematic and institutionalized employee training system aimed at building high-quality management technical

and skilled teams. We formulated the Training Management Regulations to build a system covering all staff and full processes. Targeted

Evergreen Technology Career Development Path：

training plans are developed through annual training needs surveys supported by an excellent team of internal lecturers and external

experts. By developing internal knowledge-sharing systems like the "Quantum Platform" we actively carry out diverse internal and

external training activities including induction training on-the-job improvement skill certification and management reserves compre-

hensively promoting employee growth and organizational capability. Through systematic special training in project management the

Company provides management and key technical personnel with a knowledge system covering the entire project life cycle enhancing

Management Technology Production leadership.Sequence Sequence Sequence

Training assessments take various forms including written tests work summaries practical operations and reports with corresponding

qualification standards and effectiveness evaluation mechanisms to ensure the validity of training. All training records are centrally

General Manager archived by the HR and Administration Center and recorded in employees' personal training resumes providing an important basis for

General Manager Chief Engineer probation completion promotion and job adjustments.Technical level 6

Deputygeneral Manager

During the reporting period the company's investment in employee training and development totaled RMB 113100. The total training

Senior Engineer

Deputygeneral Manager duration reached 12765 hours with an average of 15 hours per person and a 100% training coverage rate.Technical level 5 Director/Vice Director

Case CET Conducted "Leadership Training" Special Session

Advanced Engineer Manager/Vice Manager

Director/Vice Director

Technical level 4 To systematically enhance project management capabilities CET

Workshop Director launched leadership training such as "Improving Project Manage-

ment Capabilities". The program focuses on core modules like

Manager/Vice Manager Junior Engineer project planning teamwork risk control and customer communi-

Technical level 3 Group Leader

cation utilizing case teaching and practical exercises based on

real business scenarios. By introducing senior mentors and

Assistant Engineer Technician

Supervisor conducting internal case reviews the program promotes the

Technical level 2 heritage of management experience and the implementation of

Skilled Worker strategies providing solid talent support for undertaking major

projects and driving business innovation thereby continuously

Employees Technician

General Worker strengthening the organization's core competitiveness.Assistants / Seniorspecialists Technical level 1 Training for Project Management Department

Specialists /Seniorspecialists

69 70Evergreen Talent Harmonious Workplace EVERGREEN TECHNOLOGY ESG

Case CET Conducted "Effective Communication and Conflict Resolution" Special Session Safeguarding Employee Health

To help employees improve communication efficiency and

conflict resolution skills CET conducted a special session on

"Effective Communication and Conflict Resolution". The training 1. Governance

began with the classic "Paper Tearing Game" guiding employees

to personally experience errors in information transmission during CET has obtained ISO 45001 Occupational Health and Safety Management System Certification

one-way communication vividly revealing the importance of the and conducts regular maintenance and updates to ensure the system's continuous and effective

"Encoding - Decoding - Feedback" closed loop. Combined with operation. In daily operations the Company builds a comprehensive safety protection network for

work realities the course explained the roles of communication employees based on these standards and the Company's actual conditions. During the reporting

skills cultural backgrounds and emotional management in period the Company was audited by a third party and found to be in compliance with the GB/T

resolving workplace differences enhancing team collaboration 45001-2020 standard.and problem-solving abilities.Effective Communication and Conflict Resolution Training

At the beginning of each year the General Manager signs Safety Responsibility Agreements with

department heads who in turn sign them with their staff defining safety responsibilities targets

and evaluation metrics for the year. We established the Occupational Health and Safety Produc-

Other Training Sessions (Selected): tion Committee (Safety Committee) which meets quarterly to make decisions on major safety

issues. The EHS Supervisor is responsible for implementing the committee's decisions and CET ISO 45001:2018 Occupational

exercising the Company's safety management and supervision functions. In 2025 the investment Health and Safety Management

System Certification Certificate

in production safety reached RMB 976400.

2. Strategy

Life is paramount prevention is key

Prioritize the protection of employee life health and safety in all production and business activities; insist on early intervention and

strengthen source governance.International Logistics Knowledge Training Safety Training for Resumption of Work and Production Shared responsibility leadership guidance

Implement the safety production responsibility system from management to front-line staff; emphasize that leaders

at all levels should lead by example and fulfill safety commitments through visible actions.Systematic management technological empowerment

Build and optimize a systematic risk management system; actively utilize digital and intelligent tools to improve management

efficiency and predictive early warning capabilities.Continuous improvement pursuit of excellence

View workplace safety as a dynamic improvement process; achieve a spiral of improvement in safety performance through

regular reviews bench marking and cultural promotion.Order Audit Training PFMEA Training

71 72Evergreen Talent Harmonious Workplace EVERGREEN TECHNOLOGY ESG

3. Management of Impacts Risks and Opportunities CET has taken multiple health and safety measures. In equipment management our equipment has high inherent safety complete

operating procedures and standardized wiring following the "One Machine One Switch One Leakage Protector" rule. The company

conducts regular equipment inspections and operators follow regulations without any violations. The company also provides regular

Risk Identification and Management equipment operation training to ensure employees can safely use and operate the equipment. Specialized equipment such as forklifts

and freight elevators have valid annual inspections and are operating normally. In fire management fire extinguishers and hydrants are

To continuously improve the level of production safety CET has built and operates a systematic and digital risk identification and control fully equipped with inspection records. For third-party and special operations we formulated the Hazardous Operation Approval

system aimed at minimizing operational risks and effectively safeguarding employee safety and production stability. Our management Management for hot work implementing environmental and safety management for contractors including signing agreements safety

practice centers on "Systematic Identification and Hierarchical Control". Based on national regulations and industry standards we briefings and monitoring acceptance. Additionally control measures are promptly defined for new environmental factors and hazards

conduct dynamic hazard identification and scientific risk assessments across all production stages and register them via the govern- arising from equipment or process changes.ment's unified safety supervision platform.During the reporting period CET recorded 4 work-related injuries resulting in 159 lost days. There were 0 work-related fatalities. The

The Company clearly distinguishes between "Major Risks" and "General Risks" and implements differentiated and refined hierarchical file injury rate was 0.47% and the injury rate per million work hours3 was 2.37.management to ensure risks are controllable. For different risk levels we designed closed-loop control mechanisms: monthly special

inspections are conducted for major risk points with QR code confirmation to ensure control is in place. We also implement a weekly

inspection system led by management where system records drive immediate rectification of hazards translating management's safety

commitments into daily supervisory actions. Safety Emergency Management

In addition CET keeps improving institutional guarantees and all-staff participation mechanisms formulating regulations such as the CET compiled the Production Safety Accident Emergency Plan and developed an annual safety training plan covering standardized

Workplace Safety Responsibility Management System and the Workplace Safety Whistleblower Policy. Through quarterly safety equipment use emergency drills fire drills special operation requirements and daily management. We conducted activities such as fire

meetings led by the General Manager daily team inspections and external training/supervision a regular management loop is formed. emergency drills hazardous chemical leak drills and grinding dust explosion drills to ensure employees can respond quickly and

The EHS department is specifically responsible for handling occupational health and safety issues reported by employees ensuring effectively in emergencies. During the reporting period total safety training duration reached 3375 hours with 920 participants.timely feedback rapid response and closed-loop disposal of hazards.Security Risks Identified by the Company: Case CET Conducted Emergency Drills to Solidify Safety Defense

To improve capabilities in responding to emergencies CET organized an aluminum grinding dust explosion emergency drill

Risk Description Mitigation Strategies

in the paint workshop. The drill simulated a dust explosion accident. Personnel immediately activated the emergency

response: the evacuation group guided a systematic withdrawal the medical group promptly treated the injured and the

Exposure to Employees may be exposed to Install ventilation and containment systems in industrial facilities to reduce

fire-fighting group began initial disposal. All groups collaborated to complete the full process including accident reporting

Harmful hazardous substances such as the concentration of hazardous substances

Substances chemicals and biological evacuation medical aid and fire suppression.agents which can pose a risk Provide protective equipment such as respirators to exposed workers

to their health The drill effectively tested the feasibility of the emergency plan and the coordination between departments further strength-

Regularly monitor the work environment

ening employees' safety awareness and practical skills solidifying the defense line for production safety.Noise Damage Long-term or high-intensity Implement noise reduction measures at the source such as installing

exposure to noisy environ- mufflers or soundproof enclosures on machinery and applying

ments can lead to hearing loss sound-absorbing treatments to building structures

tinnitus or even permanent

deafness. Additionally noise Schedule work shifts appropriately to avoid prolonged continuous exposure

can cause a range of physical to high-noise environments and regularly monitor and assess noise levels

and psychological issues such in the workplace

as headaches insomnia and

Provide personal protective equipment such as earplugs and earmuffs to

anxiety.personnel working in noisy environments and train them on proper usage

Organize regular hearing screenings for employees establish hearing

health records and promptly identify and address cases of hearing loss

3 Injury Rate per Million Work Hours = (Total Injuries * 1000000) / Total Working Hours. Total Working Hours = Avg. Annual Work Days * 8 Hours/-

Day * Total Full-time Staff.

73 74Evergreen Talent Harmonious Workplace EVERGREEN TECHNOLOGY ESG

Occupational Health

CET attaches great importance to occupational disease prevention and has formulated the Labor Protection Equipment Management

System and Occupational Disease Prevention Management System etc. We rationally allocate regularly distribute and supervise the

use of labor protection equipment related emergency equipment and emergency medicines. In accordance with relevant regulations

we engage professional third parties to regularly conduct workplace occupational hazard factor testing and occupational health

examinations and establish employee occupational health records to prevent control and eliminate occupational hazards. In addition

we have set up occupational hazard information boards and bulletin boards to promote various health knowledge and enhance employ-

ees' awareness of occupational health and safety during the production process. During the reporting period the company did not

experience any cases of excessive occupational hazard factors or major occupational health incidents.National Safety Education Programs Broadcast in Cafeteria

Chemicals Safety

CET strictly follows the Chemicals Management System implementing full-life-cycle safety management for all chemicals. The

purchase storage collection and disposal of chemicals must comply with Material Safety Data Sheets (MSDS) to achieve source

traceability and operational guidance. For high-frequency chemicals like acetone the company implements a precise daily-distribution

system to effectively control on-site temporary storage and reduce risks during storage and use. Besides we organize regular chemicals

safety training to improve employee awareness and emergency response continuously reinforcing the integrated chemicals safety

management system from institution to practice.Safety Culture Training Fire Safety Training Session

CET regards safety culture promotion as a systematic and regular core task striving to create an atmosphere where "Everyone Speaks

Safety Everyone Skills Response". We regularly conduct occupational health and safety training. In 2025 the Company systematically

carried out "Safety Month" themed training. By hanging safety slogan banners in prominent locations in workshops and continuously 4. Metrics and Targets

broadcasting programs from the National Safety Education Platform in public areas we visualized and contextualized the safety mindset

and incorporated it into employees' daily work and life. In addition we promoted the transformation of safety knowledge from "Cognition"

to "Practice" strengthening risk prevention and emergency response. The Company continues to build a three-in-one safety culture Targets 2025 Progress

system of "Awareness Guidance Behavioral Standardization Capability Enhancement" laying a solid foundation for employee life safety

Zero fire accidents Achieved

and stable operations. In 2025 production safety-related training totaled 4255 hours.Zero pressure vessel explosion accidents Achieved

Zero serious injuries or fatalities Achieved

100% rectification rate of accident hazards Achieved

100% participation and qualification rate for safety training Achieved

100% certification rate for special equipment operators Achieved

100% registration rate for special equipment Achieved

100% intact rate for main equipment Achieved

Safety Slogans Posted in Production Workshop

75 7605Evergreen Empowerment ﹙1﹚ Building a Responsible Supply Chain 79

Shared Success ﹙2﹚ Co-creating an Industrial Ecosystem 81

﹙3﹚ Contributing to Public Welfare and Philanthropy 83

Key Topics Highlight Performance/Major Strategies

·Responsible Sourcing ·Local procurement accounted for 66%

·Social Welfare ·The signing rate of Supplier Integrity Agreement / Quality

Agreement by suppliers reached 95.1%

·Has become an official member of 31 ESG-related associations

·Public welfare investment totaled RMB 1.015 millionEvergreen Empowerment Shared Success EVERGREEN TECHNOLOGY ESG

As of the end of the reporting period no confirmed major risk events occurred in the Company's supply chain. There were 545 suppliers

Building a Responsible Supply Chain in total and the proportion of local procurement reached 66%.

2. Integrity Procurement

1. Supply Chain Management

To build a solid defense line for integrity procurement CET explicitly presents strict integrity requirements to suppliers treating integrity

CET strictly complies with The Bidding Law of the People's Republic of China and has formulated management systems such as the and compliance as a prerequisite for partnership access and continuation. We have formulated the Supplier Integrity Agreement requir-

Procurement Control Procedure and Supplier Evaluation Control Procedure. We standardize the full-process operations including ing all partners to strictly abide by business ethics and eliminate any corruption bribery or illicit transfer of interests. During the reporting

supply chain audit assessment evaluation communication training and exit aiming to build a transparent green and sustainable period the signing rate of Supplier Integrity Agreement / Quality Agreement was 95.1%.win-win cooperation for supply chain network.Suppliers showing tendencies toward violations or misconduct are ordered to rectify within a specified time frame. Those who remain

For prospective suppliers the Company regards relevant licenses qualifications and certification documents as prerequisites for unqualified after rectification or engage in illegal acts such as corruption are resolutely removed from the Approved Supplier List. Those

cooperation. We conduct investigations verification and risk assessments of their supply capacity product quality and management with serious offenses will be held accountable according to laws and regulations to prevent the emergence of corruption risks.ability through multiple channels. Production-oriented suppliers are explicitly required to possess ISO 9001 Quality Management System

certification or other valid certifications. On-site audits are conducted when necessary and suppliers are included in the Approved To reduce the risk of corruption and fraud in the supply chain the Company regularly organizes integrity training for procurement and

Supplier List after approved. subcontracting personnel strengthening employees' awareness of ethical conduct and building a solid internal defense against corruption.For existing suppliers the Company implements a hierarchical management system. Based on four core dimensions - supplier classifica-

tion order volume qualification level and annual assessment results - suppliers are classified into Level I (Key Suppliers) Level II (Import-

ant Suppliers) and Level III (Planned/Order-based Suppliers). Combined with the Risk Assessment Form we evaluate risk levels and

conduct quarterly performance monitoring and dynamic evaluations. Non-compliant suppliers are required to implement rectification

measures to continuously optimize cooperation quality. At the same time ESG performance will be included as an additional item in the

supplier performance evaluation. Suppliers that fail to meet the standards will be given a deadline to rectify the issues and those that still

fail to meet the standards after rectification will be removed from the Approved Supplier List.In 2025 the Company completed special audits of 19 suppliers and found one unqualified supplierwhich has been added to the disquali-

fied supplier list to ensure the overall quality control of the supply chain.ESG indicators in the annual supplier audit include but are not limited to:

Employee training and development

Green Procurement Training for Employees

Awareness education for employees on quality environment and occupational health and safety (OHS)

Democratic communication and employee satisfaction surveys

3. Supplier Empowerment

Employee personal protective equipment (PPE)

Adhering to the concept of synergistic supply chain development the Company focuses on supplier empowerment. In light of actual

Customer complaint handling and customer satisfaction enhancement development needs and industry trends we provide regular training and technical guidance on ESG management product quality

control and compliant operations. We also share high-quality industry resources and advanced management experience to help suppli-

Environmental protection safety warnings and sanitation facilities ers enhance their core competitiveness and sustainability. This promotes the upgrading of upstream and downstream collaboration in

the supply chain to achieve mutual benefits and further solidifies the foundation of a responsible supply chain. In 2025 the Company

Emergency response measures related to environment and safety conducted a total of 19 quality-related training sessions for suppliers.

79 80Evergreen Empowerment Shared Success EVERGREEN TECHNOLOGY ESG

Empowering with Innovation Leading the Future with Collaboration

Co-creating an Industrial Ecosystem Case — 2025 CET Architecture Industry Seminar Concludes Successfully

In May 2025 CET hosted the 2025 Architecture Industry Seminar

gathering industry guests experts and representatives from relevant

With openness and win-win cooperation as its core philosophy CET proactively collaborates with upstream and downstream enterprises enterprises. The event showcased intelligent factories core products

industry associations and research institutions to participate in building an industrial ecosystem. Through diverse initiatives such as and landmark applications and featured technical exchanges and

industry exchanges joint standard formulation and resource sharing we pool our efforts to promote industrial development and help to project inspections to jointly explore high-quality development paths for

build a healthy orderly efficient and mutually beneficial industrial development. architecture decoration.This seminar highlighted CET's industry leading status in the field of

lightweight sandwich composite materials. With innovation as a bond to

1. Communication and Exchange link industry stakeholders CET helped the architecture industry achieve

breakthroughs and upgrades. By empowering high-quality industrial

As a pioneer in the lightweight sandwich composite material industry with a forward-looking vision and open attitude CET explores development with intelligent manufacturing we continue to fulfill our

technologies and exchanges experiences with global peers through forums seminars and industry exhibitions. We also disclose our ESG responsibility of co-creating an industrial ecosystem and leading

patented technologies and corporate standards to the industry free of charge. the industry's future through innovation.Currently the Company has become an official member of 31 ESG-related associations. Some are listed below:

2. Participation in Standard Setting

01 04 Member of Changzhou AssociationChina Association of Women Entrepreneurs

for Production Safety CET actively participates in the formulation of industry standards and technical specifications contributing enduring strength to promot-

ing the healthy orderly and high-quality development of the industry. As of the end of the reporting period the company had participat-

ed in the compilation of 9 standards.

02 Changzhou Rail Transit IndustryChangzhou Charity Federation 05

-Education-Research Alliance Standards Compilation CET Participated in：

TCBDA 67 - 2023 Technical Regulations for Component Glass Curtain Wall Installation

High-Tech Enterprise Association of

03 06 Jiangsu Provincial Listed

Xinbei Changzhou Companies Association Technical Specification for Escalators for Metro Use - TCEA 301—2023

Ultra-thin Natural Stone Composite Panels (JC/T1049-2007)

Stone Honeycomb Composite Panels for Architecture Decoration (JG/T328-2011)

Aluminum Honeycomb Composite Panels for Building Exterior Walls (JG/T334-2012)

Technical Specifications for Artificial Panel Curtain Wall Engineering (JGJ336-2016)

Aluminum Honeycomb Composite Panels for General Decoration (JC-T2113-2012)

National Architectural Standard Design Atlas 06J505-1 Exterior Decoration

Prefabricated Interior Decoration Components—Partition and Wall Systems

81 82Evergreen Empowerment Shared Success EVERGREEN TECHNOLOGY ESG

Standards as the Key Empowering Transformation Case Love and Compassion Go Hand in Hand Case — CET Organized Industry Standard Review Meeting to Lead Standardized Development — CET Launches Charity Donation Initiative

In December 2025 the 5th Revision and Review Meeting of Stone Honeycomb Composite Panels for Architecture Decora- In response to Changzhou's "One Day Charity Donation"

tion was held in Changzhou. During the meeting CET President Ms. Zhou Yinmei emphasized the core significance of and the "Charity for the People Kindness in Jiangsu" online

standardization for the healthy development of the industry and pledged that CET would lead by example in promoting the donation campaigns CET initiated a public welfare

implementation of standards. Experts and scholars had in-depth discussions on the draft for approval to refine the standard's donation proposal. We called on everyone to participate

content. The revision process began in September 2024 taking 15 months and involving 5 special meetings to form the final voluntarily and pledged that all funds would be used to

draft for review. It will soon be submitted to relevant departments for approval marking a new stage in the industry's assist vulnerable groups with usage details disclosed

standardization efforts. promptly. This initiative called for uniting the love and care

of all members and the community.Case Great Love for the Disabled Gathering Strength Together

— CET Sponsored the 8th Changzhou Paralympic Games

Stone Honeycomb Composite Panels for Architecture Decoration Review Meeting

In August 2025 the 8th Changzhou Paralympic Games themed "Technology Driving Power

Intelligence Leading Service" opened at the Changzhou Olympic Sports Center. As a dedicat-

ed sponsor of the event CET supported the development of sports for the disabled and

witnessed the perseverance of the athletes. The Company combines its technological advan-

Contributing to Public Welfare tages with its commitment to public welfare echoes the core concept of

the Paralympic Games continues to

and Philanthropy focus on and support the cause of

people with disabilities uses the power

of technology to spread warmth and

CET always keeps in mind that "the development of an enterprise cannot be separated from the support of society and giving back to

demonstrates the responsibility and

society and caring for vulnerable groups are the responsibilities that enterprises should fulfill." While balancing economic benefits with

compassion of a public company

sustainable development the Company consistently upholds the core philosophy of giving back to society. We actively engage in public

through practical actions.welfare undertakings with a focus on caring for the elderly and vulnerable groups in the community. Through practical actions we 8th Changzhou Paralympic Games

contribute enduring strength to social progress and development demonstrating the responsibility and compassion of a listed company.In 2025 in active response to the national rural revitalization strategy all the potatoes we purchased were sourced from Ziyang County

Ankang City Shaanxi Province. This procurement centered on "Production - Marketing Matchmaking" aiming to expand the sales of local University — Enterprise Collaboration for Talent Development and Public

agricultural products and help farmers increase their income thereby practicing public welfare through agricultural support. Case Welfare Support: Nanjing University of Aeronautics and Astronautics' Special Action to Visit Enterprises Expand Job Opportunities and Promote Employment

In 2025 adhering to its original intention of On March 27 2025 the College of Materi-

public welfare and practicing social respon- als Science and Technology of Nanjing

sibility CET donated 1.015 million RMB to the University of Aeronautics and Astronautics

Changzhou Charity Federation and the Glory visited CET for the Enterprise Visit to

Society Foundation translating corporate Expand Jobs initiative. CET practiced

commitment into tangible benefits for public welfare through school-enterprise

society. co-education assisting in talent cultivation

and demonstrating its social responsibility.Nanjing University of Aeronautics and Astronautics

Changzhou Glory Society Changzhou Glory Society Foundation Donation Ceremony Enterprise Visit to Expand Jobs Initiative

Foundation Donation Certificate

83 84EVERGREEN TECHNOLOGY ESG

Appendix

(1) Key Performance Indicators Table

Category Unit 2025 2024 2023

Category Unit 2025 2024 2023

Exhaust Gas Disposal

Environmental4

VOCs Tonnes 0.316 0.333 0.329

Energy Consumption

SOx Tonnes 0.035 0.17 0.164

Purchased Electricity MWh 5869.11 5590.09 6727.44

NOx Tonnes 0.327 0.7 0.68

Natural Gas 10000 m3 7.20 14.78 14.88

PM Tonnes 0.07 0.474 0.17

Diesel Tonnes 17.54 6.01 10.46

Wastewater Disposal

Gasoline Tonnes 45.00 38.84 24.48

Wastewater Discharge Tonnes 8090 8010 7980

Total Energy Consumption tce 1011.02 932.40 1058.75

COD Tonnes 1.45 0.721 /

tce / RMB 10000

Energy Intensity Revenue 0.02 / /

Ammonia Nitrogen Tonnes 0.16 0.328 /

GHG Emissions

Waste Disposal

Scope 1 tCO2e 547.17 463.75 435.54

Total Waste Discharge Tonnes 136.8 144.32 /

Scope 2 (Location-based) tCO2e 3114.15 2999.64 3836.66

Total Domestic Waste Tonnes 50 55 /

Scope 2 (Market-based) tCO2e 1494.20 / /

General Industrial Solid

Tonnes 85 81.3 /

Waste Generated

Carbon Offsets tCO2e 181 / /

General Industrial Solid Waste

Tonnes 65 62 /

Recycled

Total GHG (Location-based) tCO2e 3480.32 3463.39 4272.20

Hazardous Waste Generated Tonnes 66.8 70.02 77.16

Total GHG (Market-based) tCO2e 1860.36 3737.30 /

Waste Compliance Disposal Rate / 100% 100% 100%

4 Unless otherwise specified the environmental data covers the headquarter of CET and its subsidiary JED. Due to changes in the scope of data collection

the figures for energy consumption and greenhouse gas emissions for 2023 and 2024 are subject to the information provided in this report.

85 86EVERGREEN TECHNOLOGY ESG

(1) Key Performance Indicators Table

Category Unit 2025 2024 2023

Category Unit 2025 2024 2023

Social

Employee Onboarding and Turnover

Total Headcount Person 851 790 755

Total Employee Turnover Rate / 16.49% 21.00% 18.08%

Employment

30 and under 5.55% 39.84% 31.80%

30 and under 156 151 148

31 to 40 7.50% 21.99% 21.13%

/

31 to 40 210 220 224

By Age 41 to 50 4.06% 13.71% 13.28%Person

41 to 50 255 214 222

50 and above 1.50% 6.39% 11.05%

50 and above 230 205 161

Male 12.54% 20.15% 21.54%

Male 664 630 601

By

Person /

Gender

Female 187 160 154 Female 5.13% 24.17% 10.47%

Bachelor's degree or higher 164 152 130

30 and under 81 117 /

By Associate's degree 138 133 116

Education Person 31 to 40 53 76 /

Level High school and Person218 184 201

vocational school 41 to 50 61 40 /

Junior high school and 331 321 308

below 50 and above 34 12 /

Mid-to-senior 69 71 59

management Male 175 206 /

By

Employee Person Person

Position Entry-level management 38 33 37

Female 54 39 /

Frontline employees 744 686 659

8788

Turnover Rate by Age Turnover Rate by New Hires by Age New Hires by Gender

GenderEVERGREEN TECHNOLOGY ESG

(1) Key Performance Indicators Table

Category Unit 2025 2024 2023

Category Unit 2025 2024 2023

Socially Responsible Recruitment

Occupational Health and Safety

Number

Types of of Veterans Person 16 4 / Occupational Disease Rate / 0 0 /

Socially

Responsible

Work-related injuries Person 4 3 /

Recruitment Number of Localized

Person 222 234 /

Employees

Work-related fatalities Person 0 0 /

Employee Training Workdays lost due to work-related

Day 159 75 /

injuries

Total Employee Training Hours Hours 12765 11850 7220

Social welfare

Male 7900 9450 2133

Social welfare expenditures RMB 10000 101.5 102.5 102.5

By Gender Hours

Female 2225 2400 145

Targeted expenditures

Total Training Hours Hours 5106 4740 2180

Product Quality Environmental protection expenditures RMB 10000 831.94 133.11 108.49

Training

Total Participants Person-times 851 790 728

Safety expenditures RMB 10000 97.64 266.75 150.91

Total Training Hours Hours 3404 3160 1144

Competency Employee training RMB 10000 11.31 30.43 41.5

Building Training

Total Participants Person 851 790 286

Total Training Hours Hours 4255 3950 3612

Production Safety

Training

Total Participants Person 851 790 728

89 90EVERGREEN TECHNOLOGY ESG

(2) Index

Table of Contents Shenzhen Stock Exchange GRI Table of Contents Shenzhen Stock Exchange GRI

Enhancing Environmental Environmental Compliance

About This Report — 2-2、2-3 Management Management

—

Evergreen Energy Utilization

Ecology Water Resources Utilization 101、103、301、302、

Advancing Green Operations

Chairman's Message — — Advancing Circular Economy 303

Green and Ecosystem and Biodiversity Protection

Low-Carbon

About Changzhou Evergreen Development Addressing Climate Change Addressing Climate Change 102、305

—2-1、2-2

Technology

Upholding Compliance Pollutant Discharge

303、305、306

Empowering Customer Value Standards Waste Disposal

Driving High-Quality Development — —

2-7、2-8、401、402、405、406、through Innovation Advancing Workforce Diversity Employees 407、408、409

Evergreen Enhancing Employee

Sustainability Governance Stakeholder Engagement 2-16、2-29、3-1、3-3 Talent Well-being Employees —

Harmonious

Evergreen Workplace Empowering Career

2-9、2-10、2-11、2-12、 Employees 403

Leads Steady DevelopmentStrengthening Corporate

Due Diligence 2-13、2-14、2-17、405

and Sustainable Governance

Development Safeguarding Employee Health Employees 403

Anti-Commercial Bribery and

Upholding Integrity Principles Anti-Corruption 205 Building a Responsible

Fair competition Supply Chain

Supply Chain Security 308、414

Evergreen

Empowerment Co-creating an Industrial

Ecosystem — 2-28Delivering Excellence in Shared

Product and Service Safety and Quality —

Quality Success

Evergreen Contributing to Public Welfare Rural Revitalization 413

Innovation and Philanthropy Social Contributions

Empowering InnovationDriving Innovation

through Ethics of Science and Technology

— Key Performance Indicators Table — —

Technology

Index — —

Product and Service Safety and Quality 2-25、2-27、416、417、418

Creating Customer Value Data Security and Customer Privacy

Reader Feedback Form — —

91 92(3) Reader Feedback Form

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