CONTENTS About this Report 01Message from the Chairman 02
Key Performance Indicators 03
(KPIs)
About Joyoung
Company Profile 07
Corporate Culture 08
Milestones 09
2025 Honorary Achievements 10
Sustainable Development 13
Strategy
Sustainable Development
Management
Board Statement 14
Stakeholder Engagement 15
Materiality Assessment 1701 02
Compliance & Governance: Green Environmental Protection:
Committed to Stable Development Co-creating a Low-Carbon Future
Corporate Governance 21 Addressing Climate Change 34
Corporate Risk Management & Control 23 Promoting Green Operations 40
Adhere to Business Ethics 24 Advancing Energy Conservation & 41
Responsible Marketing Practices 28 Emission Reduction
Strengthening Party Building Leadership 30 Biodiversity Conservation 44
Environmental Awareness Promotion & 45
Training
0304
Innovation-Led: Shared Responsibility and Governance:
Focusing on Customer Experience Driving Synergistic Progress
Accelerating Innovation-Led Growth 48 Partner Management 67
Protection of Intellectual Property Rights 51 Industry-University-Research Integration 69
Standardized Quality Management 52
Optimizing Customer Experience 56
Safeguarding Information Security 60
0506
Uniting: Working Together:
Cultivating Joyoung Talents Building a Better Society
Protecting Employee Rights & Interests 72 Joyoung Charity 84
Supporting Employee Development 77
Protecting Employee Health 78
Caring for Employees 81
Index of Indicators 89
Feedback Form for Reader 91About this Report
The Report focuses on and discloses the Company’s series of efforts to actively respond to sustainable development requirements
seize opportunities address challenges and build an integrated economic social and environmental value for stakeholders.Reporting Scope ---------------------------------------
Unless otherwise specified the material contents covered in this Report include Joyoung Co. Ltd. and its 11 subsidiaries which is
consistent with the scope of disclosure in the Company’s annual report.Reporting Period --------------------------------------
This Report covers the period from 1 January 2025 to 31 December 2025 (the “Reporting Period”). To enhance the completeness
of the Report certain content and data are appropriately traced back to previous years or extended beyond the above scope.Reporting Standards -----------------------------------
This Report is prepared with reference to the Self-Regulatory Supervision of Listed Companies on the Shenzhen Stock Exchange
No. 17 – Sustainable Development Reports (Trial) (the “Guidelines for Sustainable Development Reports”) on the Shenzhen Stock
Exchange (the “SZSE”) with the requirements for corporate social responsibility fulfillment and disclosure. It is also formulated
with reference to multiple sustainable development reporting standards frameworks and initiatives including the Environmental
Social and Governance Reporting Code (the “Code”) as set out in Appendix C2 of the Rules Governing the Listing of Securities on
The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) the Sustainable Development Reporting Standards
issued by the Global Reporting Initiative (GRI) the Sustainability Accounting Standards issued by the Sustainability Accounting
Standards Board (SASB) the China Corporate Sustainable Development Report Guidelines (CASS-ESG 6.0) and the United Nations
2030 Agenda for Sustainable Development Goals (SDGs).
Data Source and Explanation ---------------------------
All qualitative and quantitative information disclosed in this Report is sourced from official internal documents statistical reports
1 and the annual report of Joyoung Co. Ltd. with the disclosure scope consistent with that of the consolidated financial statements.
Any content with a scope different from the above will be specified in the Report. Unless otherwise stated all monetary amounts
mentioned in the Report are denominated in RMB. In case of any inconsistency with the financial report the financial report shall
prevail.Access to the Report ----------------------------------
This Report is available in electronic format. You may access the e-version via the Company’s official website at
https://www.joyoung.com. For any questions or suggestions regarding this Report please contact us by email at
002242@joyoung.com or telephone at 0571-81639093.
2025 CSR ReportMessage from the Chairman
2025 marks a new journey for Joyoung as it enters its 31st year since establishment. It is also a pivotal year for us to return
to our original aspiration anchor long-term value and rebuild the foundation for development. We have always adheredto our original aspiration of bringing a healthy lifestyle to every household. From the in-depth empowerment of “homekitchen” to the extensive expansion of “charity kitchen” and the technological iteration of “space kitchen” we continue to
take technology as a pen to write a new chapter in the development of healthy home appliances.Looking back at 2025 the small household appliance industry has radiated new vitality amid a wave of transformation.Benefiting from the continuous intensification of national green and low-carbon policies and the in-depth advancement
of home appliance trade-in programs the industry is accelerating its march toward high-quality development
characterized by intelligence and low carbonization. Meanwhile the industry pattern has presented a new landscape: the
deep integration of AI technologies and full-scenario smart solutions have gradually become core competitiveness while
consumer demand for healthy intelligent and energy-efficient products continue to grow.Advancing Green and Low-Carbon Development to Build a established a sound supplier management system fostering
Sustainable Ecological Future The Company continuously high-quality suppliers and strengthening daily management
improves its environmental management system strictly abides and performance evaluation to build a responsible supply
by national environmental regulations and industry standards chain that is both resilient and sustainable. In addition the
and deepens energy conservation and emission reduction Company has co-founded joint R&D platforms and technology
across the entire value chain. We optimize energy management transformation centers with multiple universities focusing on
in administrative and production operations and promote key areas such as core technologies of smart home appliances
resource recycling. Simultaneously the Company proactively application of green materials and implementation of AI
incorporates climate risks into its comprehensive enterprise technologies. This has become a cradle for nurturing new
risk management system formulates and implements targeted productive forces and injecting lasting momentum into the
climate change response strategies and uses climate scenario sustainable development of the industry.analysis to establish potential risk response mechanisms.By doing so it continuously strengthens the promotion of Pursuing Goodness and Building a Happy Life with
sustainable development concepts empowers employees to Responsibility Joyoung remains steadfast in its core value ofpractice green office guides consumers to develop low-carbon “Gathering the Power of Kindness Creating a Better Life withlifestyle. Health” and conveys warmth with concrete actions. In 2025
we continue to advance the construction of charity kitchen 2
Empowering Innovation with a User-Centric Focus The programme while advancing the digital and standardized
Company remains focused on its core product categories upgrading of existing kitchens. We funded the construction
developing competitive and distinctive flagship products. of 125 Joyoung charity kitchens bringing the cumulative total
We are streamlining our product line SKUs and adopting to 1743 facilities. These kitchens now benefit over 0.6 million
a K-shaped portfolio strategy concentrating resources on students and teachers daily. The Food Education Workshop
products that truly deliver value to users. project takes root in healthy eating education through
diversified activities such as public welfare courses teacher
We persistently pursue technological innovation. In response training and food education summer camps. 2025 it funded
to the extreme space environment the Company has overcome the establishment of 50 Food Education Workshops bringing
technical challenges including efficient heating and drinking the cumulative total to 356 over the years. In addition the
water supply. In 2025 the Company achieved humanity’s “Born to the Sun” project for unsupported children continues
first space cooking and ensured astronauts’ healthy diet to make efforts. Currently 144 adversity teenagers were
and hydration for over 1600 days aboard the space station. being sponsored under the programme. We collaborate with
Joyoung’s 0-Coating Non-Stick Rice Cooker Model 40N9U volunteer teams to help these children grow up confidently and
Pro stood out among nearly 11000 entries from 66 countries move forward toward the sun.worldwide and won the German iF Design Award.In the future Joyoung will continue to thoroughly practiceIn 2026 we officially launched the inaugural year of Joyoung’s its corporate core values of “People Orientation TeamworkAI applications positioning AI as a core tool to enhance Responsibility Health”. Centered on consumers and guided
product competitiveness and organizational efficiency. We by retail we will deeply integrate technological innovation
leverage AI to gain deep insights into consumer needs throughout the entire product lifecycle. Together with all
optimize product design and improve end-to-end operational stakeholders we will co-create long-term social value and
efficiency enabling technology to truly empower user value advance toward a sustainable and prosperous tomorrow.creation.Co-Creating Value Through Supply Chain and Industry- Chairman of Joyoung Co. Ltd.Academia-Research Collaboration The Company continues
to promote the comprehensive upgrading of cooperation from Yang Ningning
“in-depth integration” to “value co-creation”. Joyoung has
2025 CSR ReportKey Performance Indicators (KPIs)
Environmental Performance
Performance Indicators Unit 2023 2024 2025
Total greenhouse gas emissions Tonne CO2e 8269.49 8398.03 6186.24
(Scope 1 + Scope 2)
Total photovoltaic power kWh 3419365 3590949 3759086
3
Purchased electricity consumption
kWh/RMB in
(electricity consumption against 14.65 17.23 13.86
ten thousand
revenue of RMB10000)
Water consumption
Tonnes/RMB in
(water consumption against 0.20 0.20 0.20
ten thousand
revenue of RMB10000)
2025 CSR ReportSocial Performance
Performance Indicators Unit 2023 2024 2025
Total number of employees Employees 2577 2342 2100
Proportion of Female employees % 37 38 39
Number of employee volunteers Volunteers 516 426 401
Customer satisfaction % 97.9 98.9 98.3
Number of intellectual
property rights Patents 13181 14262 15070
4
Governance Performance
Indicators Unit 2023 2024 2025
Signing rate of employees'
Integrity Agreement % 100 100 100
Signing rate of Suppliers Integrity
Cooperation Agreement % 100 100 100
Signing rate of Information
Security and Confidentiality % 100 100 100
Agreements for
newly admitted suppliers
2025 CSR ReportABOUT
JOYOUNGCompany Profile 7
Corporate Culture 8
Milestones 9
2025 Honorary Achievements 10
6
2025 CSR ReportCompany Profile
Joyoung Co. Ltd. (Stock Code: 002242.SZ) was listed on the Shenzhen
Stock Exchange in 2008 a modern enterprise focusing on the R&D
production and sales of small household appliances. Since inventing
the world’s first fully automatic household soymilk maker in 1994
Joyoung has taken “health and innovation” as its core DNA. Over
the past 30+ years the Company has pioneered the soymilk maker
category from scratch and continuously expanded the small kitchen
appliance sector to create high-quality home appliances for users. As
the developer of the manned space kitchen its technical strength and
innovation capability are widely recognized. With outstanding brandinfluence Joyoung has been honored as the “ Most Influential SmallHome Appliance Brand “ for 17 consecutive years. With the continuousdevelopment of the Company Joyoung has always adhered to the
principle of “user-centric and demand-oriented” relying on the dual
engines of products and channels to drive growth. At the same time it
actively fulfills corporate social responsibility initiating the establishment
of the “Joyoung Charity Foundation” and focusing on building two
core public welfare projects: “Charity Kitchen” and “Food EducationWorkshop” to continuously support the healthy growth of teenagers.Adhering to the brand philosophy of “Enjoy Healthy Life” the Company
empowers the quality life of the public with space technology.Currently its product range covers small household appliance fields
7 such as soymilk makers high-speed blender rice cookers air fryers
water purifiers electric kettles noodle makers and floor washers
with hundreds of millions of products providing convenience for user
families.
2025 CSR ReportCorporate Culture
Vision Mission
To become a respected national brand that From a cup of fine soymilk to the nation’s dietary health!
symbolizes original innovation and a healthy Joyoung delivers unparalleled high-quality products and
lifestyle. services creates a healthy and refined lifestyle promotes
Chinese food culture and enables people to enjoy a
healthier more fulfilling life.Core Values
Respect employees care for employees cultivate employees recognize employees
People
Orientation Take pride in the achievements and development of employees and create equitable fair
and transparent working environment with people-centered development philosophy.
8
Encourage team collaboration
Teamwork Encourage employees to consciously integrate into the team rely on the team to achieve
personal development and cultivate the ability and habits of conscious communication
and collaboration.Be a responsible enterprise and benefit the society
Responsibility Insist on being responsible to users employees partners and shareholders and require
employees to be sincere pragmatic and true to their words.Choose a healthy business and make healthy products
Health Health is the core quality of our business. We pursue simplicity efficiency and
standardization to provide employees with a healthy working platform.
2025 CSR ReportMilestones
1994
Joyoung invented the world’s first fully automatic
household soymilk maker bringing the convenience
of homemade hot soymilk to households everywhere
and pioneering a brand-new industry.
2004
Joyoung’s soy milk maker sales exceed 1 million units
2008
Joyoung was listed on the Shenzhen Stock Exchange
(Stock Code: 002242.SZ)
2010
Joyoung donated RMB50 million to establish the
“Joyoung Hope Fund” and launched the Joyoung
2014 Charity Kitchen programme.
Joyoung officially undertook the responsibility of
developing the space kitchen for China’s first space
station.
2017
9 Joyoung acquired 51% stake in SharkNinja (China)
2020 Company initiating a dual-driver development mode covering kitchen and home appliances.
Joyoung’s sales revenue surpassed RMB10 billion
and the “The Joyoung Charity Foundation” was
established.
2021
The “Space Kitchen” developed by Joyoung
deployed China’s space station with the Tianhe core
2023 module ensuring astronauts’ healthy drinking water
and nutritious meal.Joyoung launched its Space Series 2.0 products
including the 0-Coating Non-Stick Rice Cooker Less
Noisy Blender and Fast-Roast Air Fryer.
2024
2025 Joyoung celebrated its 30th anniversary and launched the“space technology ”3.0 series product in 2024. Also
The world’s first hot air oven developed by Joyoung received the “Most Influential Small Home Appliance Brand”
successfully sent to the China’s space station where for 16 consecutive years.Astronauts used it to cook chicken wings and steaks
achieving the feat of “mankind’s first space cooking”.This initiative demonstrated China’s technological
strength and reflected Joyoung’s commitment as a
national brand with a sense of mission and patriotic
spirit.
2025 CSR Report2025 Honorary Achievements
In its ESG practices and development journey Joyoung has secured multiple prestigious national and provincial honors in 2025
through technological innovation product excellence and brand influence underscoring its leading position within the industry.The specific awards and honors are as follows:
Best Light Sound
Wall-Breaking
Blender of the Year
– Recommended
Product of the Year
2025 by ZOL.com.cn“Safe Steam-Free Cooking Faster and Better Taste – TRIZ-Based High-Pressure Steam-Free Cooking 2.0 Technology”
Wins Second Prize at the 2025 China Innovation Methods
Competition
Annual Product
Innovation
Achievement –
2025 China Home 10
Appliance Innovation
Achievement“Safe Steam-Free Cooking Faster and Better Taste – TRIZ-Based High-Pressure Steam-Free Cooking 2.0 Technology”
Wins First Prize at the 2025 China Innovation Methods
Competition Zhejiang Regional Finals
Most Influential
Small Home
Appliance Brand –
2025 China Home
Appliance Innovation
Achievement
China’s Top 500 Private Enterprises in Invention Patents by
2025
2025 CSR Report2025 AWE Innovation 2025 AWE Innovation
Award: Shark 8.9 Award: AI Smart Juicer
Floor Washer
2025 AWE Innovation 2025 Reddot Design
Award: Space Awards
Technology Series 3.0
11
Securities Star ESG New Benchmark Enterprise Award S&P Global CSA “Industry Best Progress Enterprise” Award
2025 CSR ReportBeyond these honors and recognitions Joyoung has also achieved breakthroughs in national and provincial key projects in the
fields of digital transformation and smart manufacturing with its digital development capabilities receiving high recognition from
authoritative bodies. In 2025 the Company was successfully selected for the first batch of Zhejiang Province’s Advanced-LevelSmart Factory list. The Company’s “Smart Kitchen Home Appliance Supply Chain Collaborative Ecosystem Digital TransformationProject” was approved to undertake the 2025 National Digital Economy Central Budget Investment Special Project constructiontask. This project centers on the upstream and downstream industrial chains of smart manufacturing establishing a “DigitalCollaborative Smart Manufacturing Platform” and a “Multi-Channel Single Inventory” model. It builds a collaborative digital
empowerment platform to achieve seamless data integration and application across the entire supply chain effectively enhancing
production-sales coordination efficiency. This initiative constructs a transparent efficient and resilient digital supply chain system
driving high-quality development for the Company and its partner ecosystem. In the future Joyoung will continue to leverage
digital innovation as its driving force deepening its commitment to smart manufacturing and supply chain synergy. By empowering
industrial upgrades through technology and fortifying the foundation for sustainable development with digital capabilities we will
join hands with ecosystem partners to embark on a new journey toward high-quality sustainable industrial growth.
12
2025 CSR ReportSustainable Development Strategy
We are committed to align our practice with the Sustainable Development Goals (SDGs) to demonstrate our dedication to
sustainability. By integrating the principles and objectives of the SDGs into our business practices we aim to collaborate with all
stakeholders to create long-term social value and jointly advance toward a sustainable future.Green Environmental Protection Innovation-Led
Co-creating a Low-Carbon Future Focusing on Customer Experience
As a brand dedicated to building a brand of sunshine With independent innovation Joyoung combines cutting-
health high value and environmental sustainability edge technology with consumer products providing
Joyoung strives to incorporate green and environmentally consumers with a healthier and more convenient lifestyle.friendly principles into every aspect of our operations. This reflects our unremitting pursuit of technological
innovation and healthy lifestyle.Warm Shared Responsibility
Community and Governance
Building Homes with Life’s Warmth Driving Synergistic Progress
Joyoung regards employees as the cornerstones of its To continuously and stably provide high-quality products
development. We ensure the protection of their rights and to consumers Joyoung ensures the stability and smooth
foster a fair and inclusive work environment. Upholding operation of the supply chain. By developing andthe 30-year core value of “Gathering the Power of nurturing high-quality suppliers standardizing theirKindness Creating a Better Life with Health we leverage daily management and performance assessment and
our business advantages to carry out health-focused optimizing the supplier hierarchy we work together to
13 public welfare initiatives and support the healthy growth build a resilient and sustainable responsible supply chain.
of teenagers.
2025 CSR ReportSustainable Development Management
Board Statement
The Company places sustainable development at the core of its strategy. To ensure scientific decision-making effective
management and efficient implementation of sustainable development-related matters we have established a solid organizational
structure to support sustainability efforts. Currently the Company has built an Environmental Social and Governance (ESG)
management framework consisting of the Board senior management and the sustainability working group. This structure clearly
defines the responsibilities of each level not only specifying the management and supervision responsibilities of each level for the
impacts risks and opportunities related to sustainable development but also clearly delineating the management hierarchy and
the boundaries of powers and responsibilities laying a foundation for the systematic advancement of sustainable development
work.The Board is responsible for reviewing and overseeing major ESG
matters and formulating relevant management policies and strategies.Boar
d
ior Senior management is responsible for assessing the significance Sen tmen and associated risks of ESG matters to the Company’s business and
nagea reputation and regularly reporting the relevant risks and M opportunities to the Board.ility
aina
b
st rou
p
Su g g
wor
kin
The working group is responsible for implementing the Board’s
strategies and policies carrying out the relevant management and 14
reporting work and reporting progress to senior management.
2025 CSR ReportStakeholder Engagement
The Company recognizes the importance of effective stakeholder engagement and collaboration. As business operations involve
various stakeholders their opinions enhance the Company’s ability to address sustainability challenges and opportunities in
a timely manner. Feedback from stakeholders with diverse backgrounds also helps the Company understand evolving market
demands and global sustainable development trends enabling more informed decisions on its sustainable development practices
initiatives and disclosures.Stakeholders Communication Channels Expectations and Demands Response Initiatives
* Company shareholders' * Compliant operation * Standardized governance
meeting * Stable performance growth and prudent operation
Shareholders * Annual reports and * Protection of shareholder * Strive for sustained
and announcement rights and interest high-quality development
investors * Interactions Platform * Information disclosure * Improved risk management
* Company website * Investor relations * Complete accurate and
management timely information Disclosure
* Anti-corruption * Sincere and unobstructed
investor communication
* Zero tolerance for corruption
and bribery
15
* Staff training * Protection of employee * Strict protection of
* Performance appraisal rights employees’ rights and
* Social media * Remuneration and welfare interests
Employees * Sound development * Sound compensation system
channels * Unobstructed promotion
* Occupational health System
protection * Standardized management
* Inclusive communication to ensure employee
occupational health
* Diversified communication
mechanisms and channels
* Supplier audit and * Supply chain management * Transparent and responsible
assessment system * Honest and friendly procurement
Suppliers * On-site visits cooperation * Supplier assessment
2025 CSR ReportStakeholders Communication Channels Expectations and Demands Response Initiatives
*Company website *Provision of high-quality *Innovative R&D of
*Retails products and services high-quality products
Customers and *Hotline *After-sales services *High-quality and efficient
distributor *Protection of customers’ customer service
privacy *Strict protection of user’s
personal information
16
*Regular visit *Compliant operation *Compliance with laws and
*On-site inspections *Compliance with regulatory regulations
Government and requirements *Cooperation with regulatory
regulators *Alignment with National inspections
Development Policies *Active implementation and
precise execution
*On-site communication *Social welfare *Sponsorships and donations
during charitable activities *Rural revitalization *Volunteer work
Community *Social media *Promotion of local *Provide employment
and the public employment opportunities
2025 CSR ReportMateriality Assessment
As a key step in managing sustainable development matters and preparing for disclosures Joyoung conducted a dual materiality
assessment of ESG issues in 2025. Referring to the Guidelines issued by the Shenzhen Stock Exchange we formulated the
assessment process scoring methodology and prioritization model and identified 21 sustainable development-related issues.The Company adopted a three-step process for materiality assessment: identification prioritization and verification. Through this
process the Company confirmed the most material sustainable development issues for its business and stakeholders.Identification Prioritization Verification
Based on domestic and international Prioritize assessments based on Senior management and
ESG disclosure standards the United the company and the materiality external experts validate the
Nations Sustainable Development of impacts on stakeholders identified material topics
Goals stakeholder survey results and refining them to establish the
the Company's business development final list of material topics
plans we have identified issues that
significantly impact both the Company
and its stakeholders
Based on this year’s dual materiality assessment results we have developed the following dual materiality matrix.
17. Employees
16. Privacy and Data Protection 15. Product and 17 Service Safety
& Quality
20. Anti-Bribery &
Anti-corruption
13. Sustainable Supply Chain
11. Innovation-driven
18. Due Diligence Development
3. Waste Management 19. Stakeholder Communication
14. Equal Treatment of SMEs 21. Anti-Unfair Competition
5. Environmental Compliance Managemen
7. Water Resources Use 2. Pollutant Emissions
8. Circular Economy
4. Ecosystem and 12. Technology Ethics
Biodiversity 6. Energy
Conservation Use
10. Social Contribution
9. Rural Revitalization
1. Climate Change Responses
Impact on Business High
Environmental Social Governance
Impact to stakeholders High
2025 CSR ReportDimension Issue Impact of the Issue on the Company
18. Due Diligence on Bribery & Anti- Mitigate compliance and reputational risks to ensure stable
corruption corporate operations.
19. Stakeholder Communication Enhance the scientificity of decision-making and social
Governance Related recognition so as to support long-term development.to Sustainable
Development 20. Anti-Bribery & Anti-corruption Strengthen compliance foundations and uphold brand
credibility.
21. Anti-Unfair Competition Maintain a fair order and safeguard legitimate business
rights and interests.
1. Climate Change Responses Impact of climate change on its strategy and business
model
2. Pollutant Emissions Impact compliance costs and reputation; relate to
environmental penalties and market access
3. Waste Management Resource efficiency compliance costs and environmental
reputation and are linked to circular economy objectives
4. Ecosystem and Biodiversity Impact supply chain stability and long-term development
Conservation mitigate ecosystem risks
Environment
5. Environmental Compliance Ensure lawful operations avoid environmental penalties
Management and safeguard brand reputation and market access
6. Energy Use Enhance resource utilization efficiency in production and
operations and promote resource recycling
7. Water Resources Use Impact production continuity and compliance affecting
supply chain resilience and environmental requirements.
8. Circular Economy Drive efficient resource utilization and model innovation to
enhance sustainable competitiveness
9. Rural Revitalization Enhance corporate social responsibility image expand
market reach and contribute to common prosperity.
10. Social Contribution Enhance brand reputation and stakeholder trust to foster a 18
conducive development environment.
11. Innovation-driven Development Empower product upgrades enhance core competitiveness
and drive sustainable growth.
12. Technology Ethics Ensure compliance and social trust while avoiding ethical
controversies and reputational risks.Social 13. Sustainable Supply Chain Ensure production continuity mitigate disruption risks and maintain customer trust.
14. Equal Treatment of SMEs Optimize the supply chain ecosystem to enhance resilience
and fairness.
15. Product and Service Safety & Safeguard consumer rights and interests uphold brand
Quality reputation and market trust.
16. Privacy and Data Protection Safeguard information security uphold customer trust and
avoid regulatory penalties.
17. Employees Influencing talent attraction and team stability supporting
core competitiveness and development foundations.For Joyoung the Group’s top-priority ESG issues are employee development product and service safety & quality and privacy and
data protection. These also form the cornerstone of its business operations. Comprehensive employee well being safeguards team
stability and enhances operational efficiency; reliable product quality underpins brand reputation and market trust; data protection
mitigates compliance risks while reinforcing consumer trust. Anti-bribery sustainable supply chain and innovation-driven
development are key issues which serve as operational safeguards to consolidate corporate governance and supply chain stability.By implementing environmental compliance and enhancing stakeholder communication the Group continuously promotes green
and compliant operations while generating sustainable social value.
2025 CSR ReportCOMPLIANCE &
GOVERNANCE
Committed to Stable Development
Goals and indicators Addressed in this Chapter:
19
2025 CSR ReportCorporate Governance 21
Corporate Risk Management & 23
Control
Adhere to Business Ethics 24
Responsible Marketing Practices 28
Strengthening Party Building 30
Leadership
20
2025 CSR ReportCorporate Governance
Joyoung is committed to continuously enhancing its corporate governance capabilities and standards. Strictly adhering to relevant
laws and regulations such as the Company Law of the People’s Republic of China the Securities Law of the People’s Republic of
China and the Corporate Governance Guidelines for Listed Companies the Company has established a multi-tiered governance
system based on its articles of association. This system establishes an efficient governance structure comprising the general
meeting of shareholders Board of Directors and management team which clearly defines the responsibilities and authority
of each level in decision-making supervision and execution promoting standardized company operations and effectively
safeguarding the rights and interests of the Company and all shareholders.General Meeting of
Shareholders
Strategy Committee
Audit Committee
Board of Directors
Nomination Committee
Remuneration and
Appraisal Committee
21 Management Team
Joyoung’s corporate governance structure
General Meeting of Shareholders
As the highest authority of the Company the general meeting of shareholders has voting
rights on major matters concerning the Company’s operations. In accordance with relevant In 2025
systems such as the Rules of Procedure for the General Meeting of Shareholders and
the Code of Conduct for Controlling Shareholders and Actual Controllers the Company A total of
effectively protects the legitimate rights and interests of all shareholders.
4
general meeting of
shareholders were held in 2025.
2025 CSR ReportBoard of Directors
The Board of Directors is a standing decision-making body of the Company responsible for the general meetings. It exercises the
Company’s operational decision-making power in accordance with the law. It has four special committees under it: the Strategy
Committee Audit Committee Nomination Committee and Remuneration and Appraisal Committee. The chairpersons of the Audit
Committee Nomination Committee and Remuneration and Appraisal Committee are all independent directors. This year the
Company held 6 Board meetings. The Board of Directors fulfilled its relevant duties effectively. Meanwhile we have strengthened
the remuneration management of directors and senior management. In the future we will formulate relevant remuneration and
performance assessment plans.In 2025
Directors Independent Directors Accounting for
7343%
Female Directors Accounting for
343%
Supervisory Board
As the superv i sory body o f the In 2025
Company the Supervisory Board
is accountable to general meeting The Supervisory Board of the Company Convened
of shareholders and supervises the consists of 22
Broad of Directors and other senior
management in performing their duties 3
in accordance with the law. 3 meetings of the Supervisory Board
supervisors
In August 2025 the Company abolished the Supervisory Board in accordance with the new regulatory requirements and its
principal functions have been assumed by the Audit Committee.Management Team
Management Team is appointed by the Board and is responsible for organizing the implementation of resolutions of the general
meeting of shareholders and the Board as well as presiding over all operational activities of the Company.
2025 CSR ReportCorporate Risk Management & Control
Joyoung adopts a comprehensive risk management model integrating top-down strategic oversight by the Board of Directors
and bottom-up operational processes across departments. This model ensures the identification of all key risks the assessment of
their potential impacts and likelihood of occurrence and the effective control of risks through appropriate monitoring systems and
response measures. The Company has formulated the Comprehensive Risk Management System and the Implementation Rules for
the Comprehensive Risk Management System which categorize risk management into four tiers: strategic planning operational
and support. Corresponding responsible personnel have been clearly designated for each tier. Meanwhile risk management
performance has been linked to the annual performance assessments of the President Vice Presidents and heads of first-tier
departments.Strategic Planning Operational Support
* Strategic * Planning * Product * Information
Planning * Implementation Lifecycle System Security
* Implementation Monitoring * Channel & Business
Review Management Project Management
* Internal Control * Supply Chain
Development Management
* External Risk * Quality &
Identification Technology
Management
* Basic R&D
Management
* Brand Asset
Management
23
Board of Directors Vice Presidents
President
Heads of First-tier Departments
Risk Management Organizational Structure
This year the Company further optimized its risk management mechanism establishing a complete closed-loop risk management
process. Through the synergy of four tiers the Company can promptly identify assess and respond to various risks realizing the
dynamic cycle and continuous improvement of risk management thereby effectively safeguarding the stable development of the
enterprise.Joyoung conducts comprehensive risk control in accordance with seven core processes: risk identification assessment response
accountability assignment implementation inspection and performance evaluation. Meanwhile the Company actively carries
out special audit work related to risk management. Through interviews with all mid-to-senior level management personnel we
completed the delineation of risk responsibilities and the listing of key risks under management. We established routine risk
management mechanisms such as monthly rolling budgets and product committees to strengthen risk control. Departments
including Audit and Systems conduct oversight audits and verification of major risk management implementations to ensure all
control requirements are effectively implemented.
2025 CSR ReportAdhere to Business Ethics
Joyoung strictly complies with laws and regulations including the Anti-Unfair Competition Law of the People’s Republic of China
and the Anti-Money Laundering Law of the People’s Republic of China. The Company has formulated the Anti-Fraud Management
System Audit and Supervision Management System and Complaint and Suggestion Management System explicitly prohibiting
any acts of bribery unfair competition fraud and conflicts of interest and striving to foster an ethical and clean operational
environment.Anti-Fraud Anti-Bribery
We have established a sound governance structure and mechanism for business ethics clarifying the business ethics
responsibilities of employees at all levels. The Company’s Audit and Supervision Department is responsible for establishing and
improving the anti-fraud management system complaint reporting and investigation mechanism receiving fraud reports and
putting forward handling opinions. Meanwhile the Audit and Supervision Department is subject to the supervision of the Board
and guides all departments in carrying out work related to building an anti-fraud corporate culture and environment. All other
departments shall actively cooperate with the Audit and Supervision Department to jointly improve the Company’s business ethics
governance.Anti-Fraud Practices
Upon receiving fraud clues the Audit and Supervision Department conducts a clue assessment and sets up a special investigation
team based on the assessment results to verify the facts. After the completion of the fraud investigation the Audit and Supervision
Department issues an audit report to the Human Resources Department. Upon receiving the report the Human Resources
Department formulates handling opinions on personnel involved in fraud and notifies the audited entity of the results. The audited
entity shall recover the relevant funds from the involved personnel within 10 working days after receiving the results. Meanwhile
the Legal Affairs Center conducts a judicial assessment of the illegal facts and initiates judicial procedures upon the Company’s
approval to pursue legal liabilities of the involved companies or personnel.Audit and Supervision Work
In 2025 24
Issues related to management optimization process flaws and risk control shall
be referred to the audit department for corrective action within a specified time the Company conducted a total of
limit with the Audit and Supervision Department tracking and supervising the
effectiveness of these corrective measures. 9
financial and operational audits
Issues involving dereliction of duty or misconduct by management personnel and
shall be transferred to the Human Resources Department for responsibility
identification and accountability. 8
special supervision and
management audits.Suspected illegal and criminal acts such as occupational embezzlement misap-
propriation of funds and corruption shall be immediately referred to the Legal
Affairs Center to initiate judicial procedures with evidence secured in accordance
with the law and legal liabilities pursued.
2025 CSR ReportWhistleblowing Mechanism
The Company provides various channels for employees and other stakeholders to raise concerns. All information is treated with
strict confidentiality and anonymous reporting is available in accordance with applicable laws and regulations. We offers multiple
avenues for stakeholders to submit feedback empowering employees and stakeholders to report observed illegal or unethical
conduct with confidence. We enforce a strict whistleblower protection system prohibiting the disclosure of any reporter’s identity
or retaliation against them under any circumstances. Violators will face severe consequences.All reported cases will be independently investigated and appropriate actions will be taken in a timely fashion including
disciplinary actions termination of employment adjustment of variable compensation and performance rating revision. We ensure
that whistleblowers are protected against unfair dismissal victimization or unwarranted disciplinary action.Reporting Channels
Complaint and Suggestion Hotline: 18758173358
Mail to: Audit and Supervision Department No. 760 Yinhai Street Xiasha Subdistrict
Hangzhou Economic & Technological Development Zone (Postal Code: 310018)
Confidential Complaint and Suggestion Email: jytj@joyoung.com
Complaint and Suggestion WeChat Account: joyoungtj
25
In 2025 the Company received 142 complaints and reports achieving a 100% follow-up rate. 2 employees were subject to
disciplinary action or dismissal due to violations of business ethics. We are committed to acting with integrity drawing lessons from
past incidents and fulfilling our responsibilities not only to customers and society at large but also to our employees ensuring they
take pride in their work. We strive to make decisions based on doing what is right for customers and will never compromise ethical
standards or integrity.
2025 CSR ReportIntegrity Culture Development
Joyoung advocates a culture of integrity actively conducts business ethics training for employees standardizes their professional
conduct and prevents occurrences that may harm the interests of the Company and its shareholders. Through business ethics
training activities Joyoung not only enhances employees’ awareness of integrity in the workplace but also strengthens their
compliance awareness and ethical standards providing solid support for the Company’s healthy development.The Company provides training on relevant governance policies. All new employees must receive such training as part of their
onboarding orientation. In 2025 the coverage rate of business ethics training for new employees reached 100% and the signing
rate of the Employee Integrity and Self-discipline Agreement hit 100%. The Company actively organized business ethics training
sessions focusing on specialized sessions and online pledge reminders for personnel and managers in high-risk positions prone
to misconduct such as procurement R&D quality control and sales. In addition the Company provides anti-corruption and risk
management trainings for new employees joined through campus and social recruitments. In 2025 the total number of training
attendances exceeded 3000 with an average training duration of one hour per employee.Case Study | Integrity and Compliance Advocacy
In 2025 Joyoung actively carried out its annual integrity and
compliance advocacy through a combination of online self-
learning and offline instructor-led training. The advocacy
content comprehensively covered the Company’s ethical
standards ethical red lines the Integrity and Self-discipline
Agreement as well as in-depth analysis of specific cases
involving compliance violations. By interpreting these
cases the Company helped employees gain a deeper
understanding of specific regulations on anti-corruption
anti-bribery and anti-monopoly effectively enhancing
their awareness of laws and regulations and their ability 26
to identify risks. This training also introduced Joyoung’s
anti-corruption communication channels to employees
encouraging them to proactively report relevant issues
to the competent departments further advancing the
development of the Company’s integrity culture.Integrity Culture Promotion
Joyoung firmly believes that fostering an integrity culture is not an overnight endeavor. The Company consistently integrates
integrity principles into employees’ daily work and lives conducting comprehensive and synchronized publicity on integrity
initiatives through multiple channels including the enterprise WeChat platform the “Integrity Joyoung” official WeChat account
and Joyoung news announcements. The Company launched the branded campaign “Joyoung Integrity Talk” which helps build a
fair transparent and honest integrity-focused atmosphere within the organization.
2025 CSR Report27
Anti-Unfair Competition
As a leading enterprise in the small home appliance industry Joyoung consistently integrates fair competition and compliant
operations into the entire value chain of its global business consolidating the governance foundation for sustainable development.The Company strictly complies with domestic and international laws and regulations including the Anti-Unfair Competition Law of
the People’s Republic of China and the Anti-Monopoly Law. On one hand it regularly reviews and updates core documents such
as the Anti-Fraud Management System and the Audit and Supervision Management System explicitly prohibiting acts such as
commercial bribery unfair competition and conflicts of interest. On the other hand in light of its business feature of distributing
products to multiple overseas countries and regions the Company continuously revises and improves regional anti-monopoly
compliance guidelines for different countries ensuring that operational activities in various markets comply with local regulatory
requirements. In 2025 the Company had no involvement in litigation or significant administrative penalties arising from unfair
competition practices.
2025 CSR ReportResponsible Marketing Practices
Responsible Marketing Commitments
Joyoung strictly complies with relevant national laws and regulations including the Arbitration Law of the People’s Republic
of China the Interpretation of the Supreme People’s Court on Issues Concerning the Application of Law in the Trial of Labor
Dispute Cases (II) the Anti-Unfair Competition Law of the People’s Republic of China and the Measures for the Administration of
Compliance Audits on Personal Information Protection. The Company actively fulfills its compliant marketing commitments fully
protects customers’ right to know and strives to provide customers with higher-quality service experience. During the reporting
period the Company internally launched a new risk assessment project for finished product suppliers and provided a series of
training programs including online courses on compliance and product detail page management via the Xiaoyang Study Hall
training through legal service official WeChat accounts as well as offline onboarding training for new employees of batches J25/
J26.At the product promotion review level the Company implements a standardized review process for product detail pages
packaging materials nutritional recipes and product promotion videos of all categories through its internal system thereby
effectively reducing false promotion incidents and ensuring the overall compliance of promotional content. Specifically the review
scope includes: verifying whether promotional content involves trademark infringement and ensuring copyright protection of
product detail pages; confirming that detail page content complies with relevant provisions of the Food Safety Law and ensuring
the accuracy of the national standards enterprise standards and group standards on which it is based; checking whether the
slogans used on detail pages comply with laws such as the Advertising Law and the Anti-Unfair Competition Law. For cited
content involving data the corresponding source (such as authoritative institution reports industry research data etc.) and
complete report number must be indicated and safety reminder content must be added to all product detail pages. In 2025
the Company had no major incidents involving violations of laws and regulations related to product and service information and
labeling and marketing promotion (including advertising sales promotion and sponsorship).Online Sales Channel
The Company’s online sales channels cover mainstream platforms such as JD.com Alibaba Pinduoduo Douyin Kuaishou
VIPSHOP Xiaohongshu and SUNING.COMCO. To standardize product promotion activities the Company has formulated
the Product Detail Page Management System which explicitly requires that promotional slogans must strictly comply with 28
relevant legal provisions. Information such as technical parameters product materials and specifications marked on detail
pages must be consistent with the actual products resolutely eliminating the transmission of false or deceptive information
to consumers.In 2025 the Company further optimized and improved this system clarifying that the primary goal of product detail page
management is to enhance the market competitiveness of product detail pages thereby increasing product conversion
rates. Meanwhile the system added core contents including the optimization of detail pages for existing products the
definition of job responsibilities of the product detail page project team the standardization of detail page acceptance
processes and the establishment of assessment criteria for detail page search conversion rates. In terms of system
implementation the Company has established a regular review mechanism conducting special review and analysis on
complaint and report cases involving false promotion every month to continuously optimize weak links in marketing and
promotion work. In response to various sudden public opinions and issues the Company will initiate emergency response
procedures immediately and conduct timely review and summary after the incident is handled to ensure that similar
problems do not recur.
2025 CSR ReportOffline Sales Channels
The Company also regularly conducts systematic communication skills training for in-store sales personnel requiring that
marketing and promotion content must truly reflect product functions and prohibiting exaggeration. For different product
series the Company compiles detailed training materials including training manuals and product introduction scripts and
assesses sales personnel through examinations after training to comprehensively verify training outcomes. In addition
the Company issued the Notice on 2025 Channel Incentive Policy covering both online and offline sales channels such
as specialty stores mall counters and supermarket stores. All dealers regardless of their scale or operating years are
eligible to participate in this incentive policy. The Company aims to encourage dealers to actively develop new markets and
customers expand sales scope increase product market share drive sustained growth in sales performance enhance brand
awareness reputation and loyalty and strengthen brand competitiveness.Case Study | Compliant Marketing Training
In 2025 the Company carried out multi-occasion compliant marketing training through a combination of online and offline
models advancing in an orderly manner around three core directions: First new product launch training implemented via
diverse formats including live streams on-site sessions and Tencent Meeting combined with on-site teaching. The content
covered live stream training offline customer enhancement training promotion mobilization meetings and supervisor
cascaded training totaling 2908 sessions. Second competition response training mainly delivered through live streams
and videos with 12 live stream training sessions completed and 10 explanatory videos released simultaneously achieving a
cumulative view count of 12000. Third excellent experience sharing training which disseminated outstanding shopping guide
experiences in video format featuring 24 videos that received 6389 views.
29
Distributors Management
To better practice the concept of responsible marketing the Company closely collaborates with partners across all sales channels
and steadily advances the standardized governance of dealers. The Company signs the Joyoung Group Partner Code of Conduct
Commitment and Distribution Agreement with dealers clearly defining their responsibilities and obligations in areas such as
consumer rights protection and advertising and promotion standardization. This lays a solid compliance foundation for product
promotion and achieves standardized control over dealers’ promotional activities.To adapt to the Company’s strategic development and business expansion needs drive the sustainable and sound development
of sales channels avoid disorderly market competition and internal friction and promote the efficient allocation and rational
utilization of channel resources the Company formulated the Management System for the Establishment Change and Termination
of Dealers in 2025 ensuring the compliance and rationality of the full-lifecycle management process of channels. Meanwhile
to safeguard the common interests of the Company and dealers standardize the channel authorization process and eliminate
acts such as multi-party authorization that disrupt market order and damage the brand image the Company issued the Channel
Authorization Management System. Based on actual market demand and the Company’s business strategy it conducts overall
planning and refined management of channel authorization to maximize brand value and market benefits.In addition to further empower dealers’ development standardize the dealer rating and assessment mechanism maintain a
healthy and orderly channel order protect the legitimate rights and interests of both cooperation parties and help channel
partners achieve high-quality development the Company formulated special policies such as the 2025 VIP Dealer Rating
Management System and 2025 Dealer Rating Management System. It provides high-quality services to customers through
a standardized management system. The Company’s continuously improved management systems have built a channel
management system with clear powers and responsibilities and standardized processes providing solid institutional guarantee for
the compliant and orderly conduct of the Company’s marketing activities.
2025 CSR ReportStrengthening Party Building Leadership
Joyoung adheres to the guidance of Xi Jinping Thought and actively builds the “365” characteristic Party building activity
mechanism to consolidate the foundation of internal Party building.
3 Mechanisms 6 Dimensions of Health 5 Commitments
* Establish incentive * Mechanism health * Become a participant in
mechanisms
* * Mental health
corporate
Establish performance decision-making
evaluation mechanisms * Physical health * Become an executor of
* Establish responsibility * Lifestyle Health corporate development
implementation * Organizational Health * Become an innovation
mechanisms
* Product Health leader for businesses
* Become a builder of
corporate culture
* Become a guide for
employees’ mindset
“365” Characteristic Party Building Activity Mechanism
In 2025 under the guidance of the Party Committee of Joyoung Joyoung achieved outstanding results in multiple activities
and evaluations earning honors such as “Strong Party Development and Strong Development” Enterprise and Top 100 Service 30
Enterprises in Zhejiang Province. These accolades fully demonstrate the solid effectiveness of party development in Joyoung
injecting strong momentum into the Company’s healthy development while exploring a distinctive Joyoung path of development
led by party development.Strong Party Development and Strong Development Top 100 Service Enterprises in Zhejiang Province
“Study the ideology strengthen Party spirit emphasize practice and achieve new accomplishments.” The Party Committee of
Joyoung leverages the guiding role of Party Building to actively identify and cultivate outstanding talent while expanding the
roster of members. Concurrently it prioritizes solidifying Party organization development by conducting multiple themed Party Day
activities and Party member education initiatives.In 2025 Joyoung conducted 12 party education sessions 12 meetings of branch members 4 party member training sessions
and 4 party lectures. The Company processed 1 membership application identified 1 active member admitted 2 probationary
members and confirmed 1 member’s full membership.
2025 CSR ReportCase Live Broadcast of the “Commemoration of the 80th Anniversary of the VictoryStudy of the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War”
To carry forward the revolutionary legacy and promote the great national spirit centered on patriotism inspiring all
employees to remember history honor martyrs and unite in progressing forward Joyoung organized a party development
activity to commemorate the victory of the Chinese people’s war of resistance against Japanese aggression.
3 September marks the victory day of the Chinese people’s war of resistance against Japanese aggression. To
commemorate the arduous struggle of the Chinese people against Japanese imperialist aggression honor the martyrs who
bravely sacrificed their lives during the war and pay tribute to all who contributed to the victory the Company organizedall employees to watch the live broadcast of the “Commemoration of the 80th Anniversary of the Victory of the ChinesePeople’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War.” This initiative inspired all
employees to dedicate themselves to their work with greater enthusiasm striving together for the Company’s high-quality
development and the realization of the Chinese Dream of national rejuvenation.
31
Case Study | Party Members Donate Blood Out of Compassion
The Company organized a blood donation campaign for Party members with Party members leading by example and
demonstrating responsibility and compassion through concrete actions.
2025 CSR ReportGREEN
ENVIRONMENTAL
PROTECTION
Co-creating a Low-carbon Future
Goals and indicators addressed in this chapter:Addressing Climate Change 34
Promoting Green Operations 40
Advancing Energy Conservation & 41
Emission Reduction
Biodiversity Conservation 44
Environmental Awareness Promotion & 45
Training
33
2025 CSR ReportAddressing Climate Change
Governance Framework
Joyoung advances ESG governance and performance improvement – including climate governance – through a three-tiered
approach: oversight by the Board of Directors implementation by senior management and execution by working group.Strategic work Board of Directors Management Senior Management
* The Board of Directors as the Company’s highest ESG * Joyoung’s senior management is responsible for
governance and decision-making body assessing climate-related risks and opportunities
comprehensively oversees the Company’s management determining and implementing the Company’s climate
of climate change risks and opportunities reviewing change response strategy formulating annual and
relevant strategies policies and performance targets. medium-to-long-term plans and overseeing progress
toward performance targets.Execution Sustainability Working Group
* The working group is responsible for coordinating joint efforts across departments conducting regular reviews and
summaries reporting progress toward phased objectives to senior management and supporting the implementation of
climate-related strategies at the corporate level.Climate Risk Management
Effective risk management is vital for the Company’s long-term development. The Company employs a structured integrated
management approach to identify assess prioritize and monitor climate-related risks and opportunities across all business
34 operations and the value chain. This framework is supported by clear policies and standardized processes integrating internal and
external data industry benchmarks and regulatory requirements to ensure coverage of all business units. All these elements are
fully incorporated into the Company’s Enterprise Risk Management (ERM) system.The Company conducts climate-related scenario analysis based on internationally recognized frameworks such as the
Intergovernmental Panel on Climate Change (IPCC) and the Network for Greening the Financial System (NGFS) of central banks
and regulators. This analysis provides a basis for risk identification and assesses potential impacts under different climate
development pathways. Climate-related risk prioritization is integrated into the Company’s enterprise risk management framework
ensuring alignment with other strategic and operational risk management requirements. Continuous monitoring of climate-related
risks is achieved through regular reporting to senior management and incorporation into internal audit processes enabling timely
updates to risk management strategies and implementation of corrective actions.
2025 CSR ReportCountermeasures
We have established clear timeframes to effectively drive strategy implementation and track progress throughout. Each phase
represents a deliberate action step enabling us to build momentum in a systematic and measurable way. By defining objectives
for each stage we ensure that efforts remain focused coordinated and aligned with the overarching vision.Short-term Medium-term Long-term
(1–5 years): (6–10 years): (10+ years):
Near-term priorities focus on enhancing During the medium-term phase we will Our long-term v is ion focuses on
operational efficiency ensuring full achieve substantial progress toward our transformative outcomes that contribute
compliance and establishing data and environmental social and governance to broader societal and environmental
governance foundations to support (ESG) objectives embedding sustainability goals including climate action and
our broader environmental social and practices into all operations. These progress toward a circular economy.governance (ESG) strategy. objectives aim to deliver measurable These ambitions position us as leaders
improvements on material issues and in shaping a sustainable future.align with corporate strategic planning.The Company assesses the resilience of its strategy and business model to climate-related changes through scenario analysis
across short-term medium-term and long-term time horizons.The Company conducted climate scenario analysis for two key timeframes–2030 and 2050–by selecting two categories of pathway
scenarios. This analysis primarily drew upon two authoritative frameworks: First the Shared Socioeconomic Pathways (SSPs)
proposed in the IPCC Sixth Assessment Report (AR6) where SSP1 represents a relatively low-carbon emissions scenario and SSP3
a high-carbon emissions scenario; Second climate scenarios released by the NGFS an international platform comprising multiple
central banks and financial regulators including the People’s Bank of China. These include the NGFS net-zero 2050 low-carbon
scenario and the NGFS fragmented world high-carbon emissions scenario.
35
Evaluation Period Climate Scenario Selection1
2030 Low-carbon Scenarios: SSP1 NGFS net-zero 2050 Scenario
2050 High-carbon Scenarios: SSP3 NGFS fragmented world
Note:
1. The IPCC Sixth Assessment Report features Shared Socioeconomic Pathways (SSP); the NGFS (Central Banks and Supervisors Network for
Greening the Financial System) is an international platform comprising multiple central banks and financial regulators including the People’s
Bank of China. The NGFS collaborates with climate scientists and economists to design and release NGFS climate scenarios and analytical
models.
2025 CSR ReportBased on the results of scenario analysis we have identified corresponding physical risks transition risks and opportunities. We
have developed the following adaptation and mitigation measures and are seizing relevant opportunities:
Physical Risks
Extreme weather events such as droughts Persistent high temperatures rising sea
Climate Change Risks
floods and typhoons levels water scarcity and other factors
Risk Description * Destroy factories office buildings and * Increased investment in refrigeration-
equipment resulting in property damage; related systems thereby raising
* Harm to employee health; operational costs;
* Resulting in insufficient cooling water * During periods of high temperatures
for the plant disrupting continuous more employees face heat-related health
operations and potentially increasing risks impacting operational efficiency;
expenditures for procuring backup water * Water scarcity has led to increases in
sources; municipal water supply prices raising
* Disrupt supply chain continuity and water usage costs.stability.Impact Timeframe Long-term Long-term
Countermeasures * Develop emergency response plans * Incorporate climate risks into our risk
for natural disasters and continuously management and strategic planning;
improve the emergency response * Adopt more energy-efficient refrigeration
mechanism for natural disasters; equipment to reduce energy consumption
* Select water-efficient equipment and and lower operating costs;
retrofit existing equipment to enhance * Implement water-saving initiatives and
water resource utilization efficiency; upgrade water-consuming equipment.
36 * Proactively identify potential asset
damage and purchase necessary
insurance to mitigate potential risks.
2025 CSR ReportTransition Risks
Climate Change
Risks Policies and Laws Technology Market Reputation
Risk Description * Stricter policies and * The Company must * Failure to adequately * Stakeholders expect
regulations may transition to low-emission meet consumer demand the Company to
increase the operational technologies and invest for green and low-carbon establish and achieve
compliance burden for in energy-saving and products; energy conservation
businesses and related emission-reduction * Frequent extreme and emission reduction
lawsuits or claims may technologies. However weather events targets to mitigate
also rise; the returns on such negatively impact supply climate change. Failure
* Emissions quotas technological investments chain stability and will to effectively address
and carbon pricing are uncertain and require lead to rising raw material stakeholder expectations
regulations may impact careful evaluation and costs. may impact the
upstream raw material management; Company’s reputation.production costs * Failure to promptly
potentially leading to identify and adopt low-
increased procurement carbon technologies has
costs for the Company. resulted in the Company’s
low-carbon product
transition lagging behind
its peers.Impact Timeframe Medium-term long-term Medium-term long-term Medium-term long-term Medium-term long-term
Countermeasures * Closely monitor * Continue researching * Actively develop green * Establish a regular
changes in domestic and applying low-carbon and low-carbon products communication
and international technologies while to meet consumer mechanism to proactively
environmental laws actively pursuing industry demand; address stakeholder
regulations and policies collaboration; * Promote green concerns;
and respond promptly; * Optimize mechanisms for procurement and * Enhance the Company’s 37
* Promote energy attracting developing collaborate with suppliers sustainable development
conservation emission and retaining technical to explore low-carbon capabilities and actively
reduction and green talent to enhance solutions. address climate change.procurement in the the Company’s R&D
Company operations. capabilities.Opportunities in
Climate Change Market Technology Resource Efficiency Climate Resilience
Opportunity Increased market demand Green and low-carbon Utilize more energy-efficient Develop or participate in
Description for green and low-carbon materials and technology production and office renewable energy projects.products. R&D; Expand the Company’s equipment buildings and
intellectual property portfolio. technologies.Impact Timeframe Medium-term long-term Medium-term long-term Short-term Short-term
Countermeasures Continuously invest in low-carbon technology R&D develop more Actively explore the The costs of renewable energy
innovative green and low-carbon products and continuously application of new sources such as solar and
enhance technological capabilities and product competitiveness. technologies equipment and wind power are projected
processes to enhance resource to continue declining in the
utilization efficiency thereby future. Actively developing
achieving cost reduction and renewable energy projects or
efficiency gains. procuring renewable energy
can reduce energy-related
costs in the medium-to-long
term.
2025 CSR ReportClimate-Related Transition Plan
Based on our identified climate-related risks and opportunities along with assessments of business model resilience we have
developed a climate transition plan to address climate change. This plan focuses on reducing greenhouse gas emissions and
adapting to climate impacts. It begins with a comprehensive assessment of the current situation including emissions inventories
and vulnerability identification followed by the establishment of clear short-term medium-term and long-term goals centered on
achieving net-zero emissions.Key strategies include utilizing renewable energy enhancing energy efficiency promoting sustainable transportation and
improving waste management. Meanwhile we prioritize adaptation measures such as upgrading infrastructure and implementing
efficient water management practices. Engaging stakeholders through community participation and partnerships is essential to
secure support and resources. Proactively developing climate-friendly policies is critical for effective implementation supported
by regular monitoring and reporting to ensure transparency. Investments in innovative technologies will raise awareness and drive
tangible actions toward climate goals.Case Study | Photovoltaic Renewable Energy Project
To reduce reliance on traditional energy sources and mitigate the risk of extreme weather disrupting energy supply Joyoung
is committed to increasing the proportion of renewable energy by developing photovoltaic and energy storage projects. We
strive to reduce carbon emissions and contribute to achieving the nation’s “carbon peaking and carbon neutrality” goals.We actively explore photovoltaic power generation and integrated photovoltaic-storage systems prioritizing environmental
sustainability while lowering operational costs and seizing climate opportunities presented by climate change.
38
Hangzhou Industrial Park Rooftop Photovoltaic Power Generation Equipment
In 2025 total photovoltaic power generation reached 3759086 kilowatt-hours with Joyoung consuming 3350036 kilowatt-
hours. The surplus fed into the grid amounted to 408050 kilowatt-hours representing an 89% self-consumption ratio.
2025 CSR ReportCase Study | Water Resource Pressure
We conducted short- medium- and long-term analyses of the physical risks facing the Company using water resource
pressure as a specific example. Water scarcity will lead to increases in municipal water prices raising the Company’s operating
costs limiting production capacity and impacting normal operations. Using low-carbon and high-carbon scenarios we
assessed potential risks for each office location and its province from now until 2050. Findings indicate that under the
high-carbon scenario Joyoung’s offices face elevated medium-to-long-term water scarcity risks. To address this we have
developed a series of risk adaptation and mitigation strategies:
* Establish a comprehensive water management system to strictly monitor and manage water usage throughout the
production process eliminating drips and leaks.* Optimize existing production processes to reduce water consumption during manufacturing.* In production and manufacturing processes prioritize the use of water-saving components such as high-efficiency
water pumps and valves to reduce water waste at the source.* Through promotional materials official accounts and other channels raise awareness among production staff about
the importance and significance of water conservation during manufacturing processes to enhance their water-saving
consciousness.Climate and Nature-Related Targets
The Company rigorously monitors all relevant greenhouse gas emissions within its assessment scope. Our primary greenhouse gas
emissions stem from direct emissions (Scope 1) generated by the Company’s combustion of gasoline and natural gas and indirect
emissions (Scope 2) from purchased electricity. 39
Indicators2 Unit 2025 2024
Scope 1 greenhouse gases Tonne CO2e 178.97 215.67
Scope 2 greenhouse gases Tonne CO2e 6007.27 8182.36
Total greenhouse gas Tonne CO2e 6186.24 8398.03
emissions (Scope 1 + Scope 2)
Greenhouse gas emissions Tonne CO2e/RMB10000 revenue 0.008 0.009
intensity3
Note:
2. Greenhouse gas emissions data are presented in carbon dioxide equivalents and reference standards including but not limited to the
Greenhouse Gas Protocol: Accounting and Reporting Standards for Enterprises published by the World Resources Institute and the WorldBusiness Council for Sustainable Development the Hong Kong Exchanges and Clearing Limited’s “How to Prepare an ESG Report –Appendix 2: Reporting Guidance on Environmental KPIs” the Announcement on the Release of the 2023 Electricity Carbon Dioxide Emission
Factor issued by the Ministry of Ecology and Environment of the People’s Republic of China in December 2025 and the 2024 Sustainability
Report of HK Electric Investment.
3. As of the end of 2025 the revenue within the reporting scope amounted to RMB8209763100 (2024: RMB 8849314700). This figure is also
used to calculate other intensity metrics.
2025 CSR ReportPromoting Green Operations
As a Company committed to building a transparent healthy high-value-added and eco-friendly home appliance brand Joyoung
strives to integrate green and sustainable principles into every aspect of its production and operations. We strictly comply with
laws and regulations including the Environmental Protection Law of the People’s Republic of China the Water Pollution Prevention
and Control Law of the People’s Republic of China the Air Pollution Prevention and Control Law of the People’s Republic of China
and the Solid Waste Pollution Prevention and Control Law of the People’s Republic of China. We have established a comprehensive
environmental management system and obtained ISO 14001 certification undergoing external audits by third-party companies
every three years. Furthermore we continuously advance green transformation and upgrading. Recognized by the Jinan Municipal
Bureau of Industry and Information Technology we were approved as one of the fifth batch of Jinan Green Factories. In 2025 the
Company did not incur any violations of environmental protection laws and regulations pollution incidents or disputes nor did it
receive any administrative penalties for breaching environmental protection regulations.
40
2025 CSR ReportAdvancing Energy Conservation &
Emission Reduction
Energy Usage Management
The Company has established internal systems such as the Energy Consumption Resource Management System and the Industrial
Park Public Area Electrical Facility Usage Rules to regulate energy and resource usage. All departments are required to prioritize
environmentally friendly and energy-efficient products when selecting resources and employees are encouraged to actively
participate in energy-saving activities. Green office practices are promoted through internal news announcements. Meanwhile
the Company conducts daily inspections of energy usage across departments regularly reports instances of energy waste
and adheres to the principle of energy conservation and emission reduction. It continuously improves energy and resource
management to minimize negative environmental impacts. By 2025 the Company’s energy consumption indicators are as follows:
Indicators Unit 2025 2024
Gasoline consumption Liters 28914.86 39955.98
Natural gas Consumption Cubic meters 48161.00 56252.00
Direct energy consumption kWh 783934.81 975561.13
* Gasoline
* Natural gas
Indirect energy consumption kWh 11321664.00 15248521.00
* Purchased electricity
Total energy consumption kWh 12105598.81 16224082.13
Energy consumption intensity3 kWh/RMB10000 revenue 14.75 18.33
41
New energy consumption kWh 3350036.00 3092029.00
* Self-consumption of new
energy generation
2025 CSR ReportWe place high priority on energy efficiency and reducing fuel consumption to minimize greenhouse gas emissions. To manage
greenhouse gas emissions we have implemented various measures for effective energy utilization. To achieve these objectives
each subsidiary has developed corresponding measures tailored to its specific circumstances including but not limited to:
Information System Development
Promoting digitalization and paperless operations; reducing printed materials through digital
communication platforms
Optimizing Resource Management
*Prohibit unauthorized installation or use of high-power electrical equipment within premises unless
operationally necessary
*Strictly control air conditioning temperatures and closing doors/windows during operation
*Regularly inspect and maintain aging air conditioning units
*Enhance control over public area air conditioning by implementing full shutdowns or adding location
markers with property management conducting enhanced inspections
*Implement centralized air conditioning control in administrative buildings
*Use energy-efficient lighting equipment and promptly turn off lights when sufficient natural light is
available
*Shut down computers and other office equipment during non-working hours
Water Resource Management
42
To ensure compliant operations the Company strictly adheres to the Water Law of the People’s Republic of China and relevant
national and local laws and regulations based on which it has established comprehensive policies clear objectives and specific
action plans for water resource management. In practice the Company actively promotes various water-saving initiatives including
regular monitoring of water consumption identifying abnormal usage and implementing measures to prevent leakage. Due to
the geographical location of our operations the Company faces no issues in securing suitable water sources for its purposes. The
Company’s water consumption indicators for 2025 are as follows:
Indicators Unit 2025 2024
Water resource consumption tonnes 166890.00 178099.00
Water consumption intensity3 tonnes/RMB10000 revenue 0.20 0.20
To enhance water efficiency the Company has implemented the following measures:
* Phasing out outdated water pumps with high water consumption
* Repairing and refurbishing leaky pipelines to reduce water waste
* Installing water-saving devices to enhance water efficiency
* Raising employee awareness of the importance of water conservation
2025 CSR ReportWaste and Emissions Management
Joyoung has established a waste management system the “Solid Waste Management Regulations” with each department
responsible for managing solid waste from generation through to sorted collection. Hazardous waste generated is entrusted to
qualified suppliers for disposal.In addition based on actual office operations Joyoung has developed corresponding waste management practices with clear
classification standards for all types of waste. Recycling bins for recyclables food waste and other waste are placed in employee
workstations break rooms and other areas. Meanwhile Joyoung conducts regular training and awareness campaigns to promote
orderly waste recycling in office areas. We advocate green and environmentally conscious operations by encouraging double-
sided printing black-and-white printing and prioritizing electronic communication and office methods. All departments are urged
to reduce unnecessary newspaper subscriptions to minimize paper waste generation. Waste sorting bins are placed in public areas
to ensure proper waste classification and collection.Laboratory operations involving chemicals in fume hoods primarily generate inorganic waste liquids with trace amounts of volatile
gases from organic waste liquids. In accordance with the Hazardous Chemicals Management System Joyoung strictly regulates
the procurement transportation use and disposal of hazardous chemicals and other harmful substances. Responsibilities
for supervision management record-keeping and reporting are clearly defined for all departments and employee levels. To
minimize environmental impact from hazardous chemicals the Company employs activated carbon and spray systems to adsorb
volatile organic compounds (VOCs) generated during use. At the same time we conduct weekly routine inspections of hazardous
chemical storage areas along with periodic comprehensive inspections and third-party exhaust gas testing. Any identified issues
are addressed immediately through corrective measures. Responsible departments have established emergency response plans
for incidents such as leaks spills and equipment failures and regularly organize employee drills. The Company’s waste disposal
targets for 2025 are outlined in the table below:
Indictors Unit 2025 2024
Total hazardous waste4 tonnes 3.07 2.06
Hazardous waste emission kg/RMB10000 revenue 0.010 0.002 43
intensity3
Total non-hazardous waste tonnes 714.10 635.60
Non-hazardous waste kg/RMB10000 revenue 0.87 0.72
discharge intensity3
Toluene emissions kg 0.10 0.30
Diethyl ether emissions kg 0.03 0.05
Dichloromethane emissions kg 0.40 50.00
Trichloromethane emissions kg 0.05 0.10
Acetone emissions m3 0.10 0.05
Nitrogen oxides (NOx) kg / /
Sulfur oxides (SOx) kg / /
Inhalable suspended kg / /
particulate matter (PM)
Note:
4 The amount of hazardous waste generated annually from testing varies depending on the specific testing items.
2025 CSR ReportWastewater Discharge Management
The Company actively implements measures to reduce wastewater discharge strictly adhering to the Water Pollution Prevention
and Control Law of the People’s Republic of China and the Integrated Wastewater Discharge Standards. There is no direct
discharge of pollutants into natural water bodies. The Company conducts regular inspections of drainage pipes and ditches to
prevent sewage leakage. Through periodic assessments of the system’s condition we identify and address any potential leaks
or maintenance requirements. These preventive measures help maintain the integrity of our wastewater management system
and minimize the risk of environmental pollution. The Company’s wastewater discharge targets for 2025 are outlined in the table
below:
Indicators Unit 2025 2024
Wastewater discharge volume m3 133512.00 142479.20
Wastewater discharge m3/RMB10000 revenue 0.16 0.16
intensity3
Packaging Materials
In 2025 paper-based materials constituted the primary packaging materials for Joyoung forming the core of its packaging
material usage structure. During the reporting period the Company’s total packaging material consumption reached 34232 tons.Specific packaging usage details are as follows:
Moving forward the Company will advance green packaging upgrades gradually increasing the proportion of biodegradable
materials optimizing packaging reduction efforts and minimizing the environmental footprint of packaging processes.
44
Indicators Unit 2025 2024
Total packaging material tonnes 34232 33630
usage (including paper foam
and PE bags)
Paper packaging material tonnes 25800 24980
consumption
Plastic packaging material tonnes 296 286
Consumption
Biodiversity Conservation
The Company remains committed to minimizing the environmental impact of its operations by carefully considering the effects of
its sites on surrounding ecosystems and natural resources. We strive to reduce negative environmental effects through resource
conservation and proper waste management practices. During the site selection phase we strictly avoid ecologically sensitive
areas such as nature reserves and important habitats prioritizing developed land to minimize impacts on native ecosystems from
the outset. In addition we have established and rigorously enforce waste treatment procedures to effectively manage and treat
pollutants like wastewater and exhaust gases generated during operations closely monitoring the environmental impact of our
activities.
2025 CSR ReportEnvironmental Awareness Promotion &
Training
The Company places high importance on enhancing employees’ green awareness. We regularly organize annual training programs
covering topics such as environmental regulations interpretation waste classification and reduction energy recycling and water
resource optimization comprehensively promoting environmental protection concepts throughout the organization.Case 2025 Energy Conservation and Consumption Reduction Strategy Briefing
Study Session
In 2025 the Company convened an energy conservation and consumption reduction strategy briefing session. Through
energy consumption reviews problem discussions and sharing of energy-saving “golden ideas” it encouraged employees
to voluntarily turn off lights during lunch breaks and use energy in public areas only as needed. Concurrently the Company
launched energy conservation awareness campaigns to disseminate energy-saving knowledge and further enhance the
energy-saving consciousness of all staff.
45
2025 CSR ReportINNOVATION-LED
Focusing on Customer Experience
Goals and indicators addressed in this chapter:Accelerating Innovation-Led Growth 48
Protection of Intellectual Property Rights 51
Standardized Quality Management 52
Optimizing Customer Experience 56
Safeguarding Information Security 60
47
2025 CSR ReportAccelerating Innovation-led Growth
Technological innovation and intellectual property protection are central to the Company’s sustainable development and
competitiveness. The Company consistently pursues technological innovation establishing a comprehensive technological
innovation system. Joyoung is committed to widely applying innovative achievements across various social sectors accelerating
the construction of a green and intelligent future society. Continuous innovation and R&D are key to Joyoung building robust
technological capabilities and achieving rapid growth. In 2025 Joyoung’s primary internal policies for intellectual property
protection are the Intellectual Property Management System and the Star Patent Award System. The Company incentivizes
employees to submit intellectual property achievements through monthly patent application incentives and annual Star Patent
evaluations. In addition the Company established an Innovation Review Committee and Innovation Management Office. Led
by vice president of products as chair and the chief technology officer as vice chair the committee includes the chief electrical
engineer departmental chief engineers and design directors as members. This structure effectively coordinates resources breaks
down departmental silos standardizes innovation management processes precisely controls innovation direction and quality
efficiently drives innovation project implementation and commercialization and comprehensively enhances the Company’s product
R&D and technological innovation capabilities. In 2025 the Company adjusted its routine innovation proposal evaluation criteria:
solutions proposing new concepts approaches or plans for existing products functions applications thematic planning user
experience or extreme cost optimization will explicitly require participation from the chairman and president in year-end award
assessments.The total R&D investment amounting to approximately RMB302.97 million. The Company employs 683 R&D staff accounting for
32.52% of the total workforce. The following outlines the Company’s innovation management mechanisms:
Regarding the innovation Regarding the selection Regarding award
review mechanism process integration
The Joyoung innovation review Joyoung has refined the process Joyoung imposes no cap on
committee is chaired by the vice into a quantitative scoring system award recipients to encourage
president of product with chief system assigning weighted scores participation with prizes distributed
engineers serving as committee to metrics such as innovation as lump-sum payments. This model
m e m b e r s . A n i n n o v a t i o n market potential and technical effectively stimulates employee
management of f ice has been feas ib i l i t y a re we ighted and innovation through immediate
48 established. Committee members calculate weighted scores based rewards. The optimized system has
possess extensive exper ience on these metrics. The final score significantly boosted employee
and sol id expert ise enabl ing is determined by the weighted creat iv i ty y ie ld ing numerous
comprehens ive eva luat ion of average o f eva luat ions f rom innovative proposals in product
i nnova t ion p ro jec t e l ements multiple reviewers to determine design and process improvement
and effect ive organizat ion of the final project score to enhance tha t suppor t the Company ’s
activities. This measure enhances the scientific rigor and traceability technological advancement.the fairness of review decisions of the evaluation process and
ensuring projects receive objective traceabi l i ty of the evaluat ion
assessments. process.
2025 CSR ReportInnovative Space Technology – Joyoung Pioneers the “SpaceStove”
Joyoung long dedicated to healthy home appliances was selected
by the state as the developer for the manned spaceflight kitchen
in 2014. Its core mission was to create hot-air heating equipment
and a water dispenser. After eight years of R&D and over 1000
experiments it was successfully launched and put into use in 2021
having since ensured the dietary health of multiple astronaut crews.At 11:44 PM on 31 October 2025 from the Jiuquan Satellite Launch
Center the Shenzhou-21 spacecraft carried a special “passenger”–
a hot-air oven developed by Joyoung – into space. It successfully
docked with the Chinese Space Station enabling humanity’s first
cooking in space. Astronauts can now enjoy freshly baked chicken wings steaks and other delicacies. This device addresses the
challenges of grease fumes and food floating in the space kitchen. It features self-cleaning grease filtration and residue collection
capabilities while its heating temperature can reach up to 190°C enabling more diverse and delicious food preparation.Joyoung has continuously ensured astronauts’ access to
health and drinking water aboard the space station for 1600
days
25 April marks China’s 2025 Space Day and the launch for Shenzhou-20! Within the sealed space station water remains stagnant.
As the developer of the space kitchen Joyoung overcame 8 years of technical challenges to successfully deploy its space kitchen
water purification system in 2021. This innovation allows astronauts to have free access to clean and healthy water at 45°C.From
Shenzhou-12 to Shenzhou-20 Joyoung has continuously ensured astronauts’ access to health and drinking water aboard the
space station for over 1600 days.
49
In 2025 Joyoung once again upgraded its product line with the launch of the Joyoung Tianjing Series water purifiers. Joyoung
aims to leverage space technology to safeguard the drinking water health of every citizen enabling everyone to conveniently
enjoy aerospace-grade purified water.
2025 CSR Report2025 German iF Design Award
The German iF Design Award hailed as the
“Oscar of the design world” stands among the
most prestigious global design honors. Alongside
Germany’s Red Dot Award and the U.S. IDEA Award
it forms the hallowed trio of world-renowned design
accolades. The 2025 iF Design Award winners were
officially announced with nearly 11000 entries
submitted from 66 countries worldwide. Joyoung’s
40N9U Pro non-stick zero coating rice cooker
ultimately prevailed. The risk of chemical coating
peeling off traditional rice cookers has always
been a looming threat for consumers. The arrival of
Joyoung’s third-generation zero coating rice cooker
40N9U Pro finally reconciles health and taste.
Through the ingenious combination of 200000
square dot micro-pits and air-cooled suspension
technology a moist protective film forms on the
inner pot surface achieving a non-stick effect meeting China’s National Standard Grade II. Even more groundbreaking is the
patented rice grain activation technology enabling all rice varieties to meet the “Grade 10A Perfect Rice” standard.
2025 AWE Home Appliance Expo
50
At the 2025 China Home Appliance and Consumer Electronics Expo (“AWE”) Joyoung showcased multiple innovative products
injecting fresh vitality into the small appliance market.The star of this AWE debut is the K7 Pro low-purine soy milk maker that requires no manual washing. As consumers savored thesilken tofu crafted by the K7 Pro and watched the machine self-clean they marveled: “No hand-washing needed – it ‘bathes’ itselfand even sterilizes with heat drying. Truly a ‘thoughtful’ soy milk maker!” After grinding the K7 Pro automatically initiates a “triplewash and dry” cycle. Equipped with traditional triple-grind triple-boil soy milk technology and two-stage constant-temperature
de-purine processing it produces rich low-purine soy milk.The Joyoung Y8 Fully Automatic Nutritional Blender represents the pinnacle of
nutrient extraction: its brushless motor with variable frequency delivers 5 grinding
settings intelligently matching specialized programs for everything from high-
fiber juices favored by fitness enthusiasts to liquid diets for post-operative patients.Developed in collaboration with nutritionists the 28-day nutritional supplement kit
breathes new life into the traditional concept of food as medicine through modern
technology. With its ultra-quiet cabin technology operating at just 32 decibels
morning blending won’t disturb your family’s peaceful slumber.
2025 CSR ReportThe Joyoung Space Pure R5P has established a comprehensive antibacterial system
that not only filters impurities but also prevents secondary contamination ensuring
pure ready-to-drink water. Zinc oxide antibacterial technology derived from
manned spaceflight engineering combined with a pasteurization cycle sterilization
system maintains a 99.9% sterile environment inside the purifier. The AI smart filter
monitoring system breaks industry conventions by using multidimensional sensors
to calculate filter lifespan in real time. Combined with high-pressure pulse self-
cleaning technology it extends filter life to 6 years reducing daily water usage
costs to just RMB0.2. Instant high-flow design delivers 500ml of boiling water in 6
seconds truly achieving “integrated purification and heating” for drinking freedom.Protection of Intellectual Property
Rights
Joyoung strictly adheres to applicable intellectual property regulations in its operational regions including the Patent Law of the
People’s Republic of China Trademark Law of the People’s Republic of China and Copyright Law of the People’s Republic of
China. The Company has established a patent management system and operational mechanism centered on high-value patents.It continuously refines its Intellectual Property Management System clarifying processes and standards for patent trademark
and copyright applications protection and maintenance. A decentralized management structure is implemented between the
Intellectual Property Department and each Product Business Unit (BU). The Intellectual Property Department is headed by a
Patent Department Manager responsible for coordinating the Company’s patent applications and protection. Additionally Patent
Supervisors and Patent Engineers are assigned to each business unit and research institute to oversee patent applications and
protection for their respective product lines.For intellectual property education Joyoung regularly publishes patent and IP-related content through its internal public account
to disseminate knowledge among employees. The Company has conducted seven training sessions covering topics such as 51
identifying patent risks and high-quality patent seminars. These initiatives aim to deepen employees’ understanding of intellectual
property importance and fundamental concepts while enhancing IP protection awareness. We also invited external experts to
conduct in-person training sessions on intellectual property knowledge. Meanwhile the Company requires patent managers to
provide specialized intellectual property training to R&D personnel enhancing professional capabilities through internal knowledge
exchange. Through sustained intellectual property education and awareness campaigns Joyoung has not only strengthened
employees’ legal awareness and motivation for innovation but also laid a solid foundation for the Company’s intellectual property
management and protection efforts. In 2025 the Company conducted seven intellectual property training sessions. Joyoung
encourages employees to file patent applications offering bonus incentives for applicants and recognizing annually authorized
patents through a Star Patent Award with corresponding significant rewards. The 2025 patent application and authorization status
is as follows:
In 2025
Including Utility
Newly Newly added New patent invention Design model
registered software copyright applications: patents patents patents
trademarks: registrations:
8751005139189677
2025 CSR ReportStandardized Quality Management
Quality Control SystemWe consistently adhere to a quality management strategy centered on “one core principle one integrated process and four keyfocal points.” This approach prioritizes customer-centricity employs lifecycle management as the core process and implements
four critical management pillars to continuously enhance product quality thereby transforming customer requirements into
satisfaction.Supplier Quality Requirement and
Control Enhancement Satisfaction Demand Risk Management
Customer
Mass Production Lif see Development andConsistency Assurance cy Ucl ting
Validation Control
e Management Me
e
The Company strictly adheres to the Product Quality Law of the People’s Republic of China and the Standardization Law of the
People’s Republic of China. It has comprehensively established multiple institutional documents including the Routine Inspection
and Confirmation Inspection Control Procedure the Product Quality Withdrawal/Delisting Management System and the Quality
52 Alert Management Specifications for Line/Production/Shipping Halts by Whole-Unit Suppliers. These measures standardize
end-to-end product quality management and effectively mitigate quality risks. During the reporting period Joyoung updated
the “Supplier Quality Management Specifications” by revising the rules for unannounced inspections of whole-unit suppliers.It also added water-related and food-related products to the “Food and Food-Related Product Safety Management System”
comprehensively optimizing the policy into the “Food Water-Related and Food-Related Product Safety Management System.”
Joyoung has successfully obtained ISO 9001 Quality
Management System certification covering design
sales after-sales service and production management
for products related to its subsidiaries small appliances
water purification systems and other legal entities. The
Joyoung Testing Center holds certifications including CNAS
laboratory accreditation registration as a China Energy
Efficiency Labeling Management Center laboratory UL
collaborative laboratory status and qualification as a
social testing resource development laboratory. Domestic
products carry China Compulsory Product Certification
(CCC) while export products meet local country/region
regulatory requirements through certifications such as UL
CB and TISI. All company products undergo food contact
safety testing in accordance with national regulations and
ISO 9001 Quality Management CNAS Laboratory Accreditation
obtain corresponding test reports. System Certification Certificate Certificate
r Needs
uc
t
d
Pro
2025 CSR ReportQuality Control Process
Joyoung is committed to comprehensive quality management and control throughout every stage of the product lifecycle.The Company has established and continuously optimizes internal systems including the “Product Development IPD Process”
“GTM Process Management System” “Market Quality Issue Handling Management System” and “Supplier Quality ManagementSpecifications.” By integrating the Integrated Product Development (IPD) and Go-to-Market (GTM) processes stringent quality
control measures are strictly enforced during critical stages of the product development lifecycle – such as new product quality
control and supplier quality management – to ensure product quality. In addition the Company maintains a Product Quality
Discontinuation and Withdrawal Management System with the Quality Technology Department/Quality System and Performance
Group overseeing random inspections. A product recall management process is also established for marketed products to ensure
high quality and standards throughout the entire lifecycle from launch to discontinuation thereby safeguarding the Company’s
reputation and brand image.IPD Process
Adopting a matrix organizational structure to oversee project execution and quality gate reviews ensuring a reliable and controlled
product development process. Concurrently establish a Technical Expert Committee (comprising company-level senior experts
and technical leads from relevant departments) as the Company’s authoritative technical body. This committee coordinates
technology-related initiatives provides technical support to product business units (BUs) facilitates shared R&D resources and
ensures the implementation of technology-driven product capability strategies.GTM Process
Interlocked with the product development IPD process this ensures new products achieve volume sales upon launch. This
standardized process covers the entire lifecycle from market opportunity identification to end-of-life enhancing precision
execution capabilities and establishing a mechanism for creating billion-dollar blockbuster products.Product Recall Management 53
To ensure timely defect recall management the Company strictly adheres to the Interim In 2025
Regulations on the Management of Consumer Product Recalls and has established a
Defective Product Expert Panel and a Recall Management Team. The voluntary recall the Company experienced no
procedure comprises three key phases: information collection defective product recall and major safety or quality incidents
liability tracing. The Expert Panel evaluates and analyzes products under recall suspicion re lated to product serv ices
determines the presence of defects and communicates findings to the Recall Management r e s u l t i n g i n n o a s s o c i a t e d
Team. The recall management team conducts company-level product investigations and economic losses.analyses determining whether to initiate a recall based on the expert panel’s findings. The
Company has established a management objective to maintain zero product recalls due to
quality issues.
2025 CSR ReportQuality Inspection Capabilities
Building upon refined quality control processes the Company continuously enhances its quality inspection capabilities. It
implements end-to-end quality management rigorously controls product safety deepens quality culture development and
employs multiple measures to ensure product quality and safety. By 2025 the Company has fully transitioned to the new national
standards for safety regulations and energy efficiency conducting internal product testing to ensure continuous updates to
testing capabilities. Concurrently Joyoung participates annually in CNAS proficiency testing and laboratory comparison activities
to guarantee consistency between test results and those from other third-party sources thereby maintaining testing quality.Additionally Joyoung has strengthened supplier evaluations to ensure product quality and achieve full traceability from raw
materials to finished products. In 2025 we implemented 34 types of online inspection foolproofing fixtures across 65 suppliers
achieving an overall configuration rate of 99.87%.Continuously Enhancing Testing
Strengthening Supplier Evaluation
Personnel Expertise
Dynamical ly track the implementat ion of Joyoung has a lso strengthened suppl ier
testing center standards promptly follow up evaluations to ensure product quality and achieve
on interpretations and method validation for full traceability from raw materials to finished
newly released standards; conduct equipment products.matching validation metrological calibration
and inter-calibration verification to ensure
testing capabilities. In addition participate in
proficiency testing and laboratory comparison
activities annually to ensure test results align
with other third-party results and meet relevant
requirements.
54
Quality Control Training
To solidify the foundation of product quality we provide employees and suppliers with comprehensive training on product
quality. Training topics include but are not limited to: “Supplier Quality Management Models and Strategy Sharing” “Six SigmaApplication” “Whole-Unit Supplier Management * Process Auditing” “Supplier Quality Management Models and Strategies”
“From Standard to Practice: VDA6.3 Analysis” “Design-Manufacturing Consistency Application” and “Lessons Learned andCountermeasures from Critical Product Failure Cases.” Through these systematic training programs employees and suppliers
gain deeper insights into product characteristics master relevant laws and regulations proficiently apply quality tools and learn
valuable lessons from failure cases.Product Quality Training
2025 CSR ReportIn 2025 the Company provided the following quality control training data:
Organized department-level Approximate Training Duration
quality training
86 sessions 148 hours
Number of participants reached Training provided to suppliers
2493 participants 6 sessions
Number of participants reached
518 individuals
55
2025 CSR ReportOptimizing Customer Experience
Customer experience is at the core of our business approach. We continuously engage with customers to identify and understand
their needs thereby enhancing their experience. Joyoung strives to deliver industry-leading service in the small appliance sector
upholding the core service principles of “integrity warmth transparency and joy.” We are committed to refining our customer
service management mechanisms and elevating the professional capabilities of our service team to provide customers with an
exceptional consumption experience.Safeguarding Customer Rights
The Company continuously refines its customer service management systems. We have established and regularly update the
following documents: – Customer Service Department Joyoung Product Special Service Policy Application and Revision Process
Specifications – Customer Service Department Replacement-Only Service Management Regulations – Market Quality Issue
Handling Management System – Complaint Management Regulations We are committed to providing high-level professional
services through a comprehensive service system and streamlined processes building an exceptional customer service brand.Complaint Management
The Company implements strict management measures for customer complaints categorizing them into Levels 1 2 and 3
based on severity. This year detailed supplementary definitions were added for Level 2 complaints related to service timeliness
communication and execution. This aligns with the principle of “rapid response swift resolution and zero service complaints.”
To prevent and control the negative impact of complaints the Company has established a comprehensive consumer complaint
dispatch management system and formulated the “2025 Customer Complaint Management Regulations” to enhance customer
service quality.Customer complaint responsibilities are as follows:
Customer
Customer Service District/
Service Customer Service
56 Department Service
Outlets
Supervisor
Timely forwarding of complaints Monitor service outlets to Ensure timely dispatch
and routine assignments ensure timely order acceptance processing; escalate abnormal
generated across all service and closed-loop resolution of cases to the Customer Service
channels to relevant issues. Provide guidance on District/Supervisor and
departments assessing risks handling problems arising continuously track unresolved
and tracking resolutions during service outlet processing cases until consumer service
according to procedures requests are fulfilled
2025 CSR ReportCustomer Complaint Procedure:
Feedback and
Dispatch Order Acceptance Case Closure
Upon receiving user requests Order acceptance and Within 2 hours: Accept the case
through any service channel verification within 30 minutes; and provide a resolution
the Customer Service Depart- service centers will 100% recommendation via the
ment assigns tasks to the contact consumers directly to customer service system
corresponding service outlet via confirm solutions upon order tracking it through to consumer
the customer service system receipt issue closure
within 30 minutes during
working hours based on the
assignment details. The system
alerts the customer service
supervisor and outlet to
promptly accept and process
the assignment
Through closed-loop work order management incentive and penalty mechanisms for service outlets and customer service district
managers/directors in complaint assessment management and supplementary adjustments to dispatch and processing timelines
we have effectively mitigated the negative impact of customer complaints thereby enhancing the overall service experience for
consumers. In 2025 we received 67 complaints regarding products and services. All cases were resolved through communication
with consumers completing the after-sales service loop with repairs replacements or refunds. The complaint resolution rate
reached 100%.Product Services
Joyoung provides diversified product services including
standard and value-added offerings to meet the varied needs
of different customers. We promote green consumption
through dedicated trade-in subsidies leveraging online
and offline channels to precisely target existing users. 57
This approach activates old users → drives store visits →
encourages repeat purchases creating a closed-loop system.While fulfilling customer needs we also advocate sustainable
consumption principles encouraging consumers to dispose of
waste items more environmentally and reduce resource waste.Standard Services Value-Added Services
* Joyoung complies with China’s new * Five Free Services: Free maintenance cleaning washing inspection
“Three Guarantees” policy: 7-day and water quality testing
return 15-day exchange for product
defects 1-year warranty for entire * Replacement Only: Free replacement for quality issues within one
unit nationwide coverage year; depreciation replacement after one year (5-year depreciation
principle)
* SKY series products receive lifetime
complimentary cleaning services at * Extended Parts Warranty: Extended coverage for designated
authorized service centers components e.g. Y951 motor with 10-year free replacement/B5
motor with lifetime replacement
* Free two-way shipping for mail-in
repairs during the warranty period * Extended Warranty Beyond 1 Year: Selected products receive
extended warranty coverage beyond one year e.g. All-in-One
Nutrient Master Y8 1+2 Extended Warranty Policy Hands-Free Quiet
Low-Purine Soy Milk Maker K7Pro 1+2 Extended Warranty Policy
2025 CSR ReportEnhancing Customer Experience
Customer Needs Research
The Joyoung User Research Department precisely identifies customer needs by segmenting demographics
based on age gender lifestyle income level and product ownership. It conducts in-depth research on key
conversion points throughout the consumer journey – from awareness to active search to purchase. Through
analyzing these critical touchpoints Joyoung better understands consumer psychology and behavior patterns
enabling optimization of product design marketing strategies and service processes to meet consumer demands.Simultaneously the Company conducts online follow-up surveys through its business units analyzing consumer
feedback to identify genuine customer needs.Customer Service Management
Joyoung is committed to providing comprehensive omnichannel services for customers engaging consumers
through self-service live support online assistance and offline channels to deliver repair and consultation services
to customers. In 2025 Joyoung provided 7.99 million service interactions via mini-programs online AI bots 400
service hotlines and social media customer support.In addition Joyoung has established a standardized
professional customer service team dedicated to
deepening offline service capabilities.By 2025 the Company operated 1725 specialized
service outlets and 34 mail-in repair centers delivering
nearly 500000 in-person repair services and 180000
mail-in repair services to consumers.
58 Consumers can also access diverse information through
the “Joyoung Home” mini-program including product
details user manuals operation videos maintenance
guides recipes and after-sales service information such
as nearby stores troubleshooting service policies fee
standards and self-service repair requests.
2025 CSR ReportEnhancing Customer Satisfaction
To enhance customer service capabilities and satisfaction the Company established the Customer Service Satisfaction
Management System in 2025. This system evaluates service satisfaction through monitoring consumer satisfaction and after-sales
service satisfaction driving continuous improvement. Responsibilities are clearly defined across departments: – the quality and
technology department designs executes and reports consumer satisfaction surveys; collects monitors analyzes and improves
survey data. – The customer service department designs executes and reports after-sales satisfaction surveys; collects monitors
analyzes and improves survey data. The human resources department conducts KPI evaluations of relevant departments based on
customer satisfaction survey results. Departments including marketing R&D procurement manufacturing and sales perform self-
analysis and improvements based on their impact on satisfaction levels and monitoring data. For JD.com and Alibaba customers
the quality technology department and customer service department should monitor consumer satisfaction monthly.Customer satisfaction has remained stable at approximately 95% over the past decade showing a consistent upward trend in
the last three years. In 2025 Joyoung’s after-sales service survey satisfaction reached 98.3% maintaining the same high level
as the previous year. This demonstrates that Joyoung’s long-standing commitment to high standards and rigorous customer
management has earned positive recognition from consumers.Survey Satisfaction Trends Over the Past Decade5
98.9%
95.9%97.9%
93.9%94.0%96.6%
96.7%96.5%97.4%98.3%
59
2016201720182019202020212022202320242025
Note:
5. Survey Satisfaction = Overall Satisfaction * 0.1 + Store Repair Satisfaction * 0.4 + Local Service Hotline Satisfaction * 0.3 + Service Policy
Satisfaction * 0.2
2025 CSR ReportSafeguarding Information Security
Joyoung adheres to the core principle of “mitigating information security risks to support stable business development.” Strictly
complying with relevant laws and regulations such as the Cybersecurity Law of the People’s Republic of China and the Data
Security Law of the People’s Republic of China the Company has established an information security management framework
centered on the Information Security Committee. Based on the Joyoung Trade Secret Protection Management System
the Company has developed the Joyoung Trade Secret Information Classification Protection Catalog implementing tiered
protection for business data categorized into R&D sales and general operations. Meanwhile the Company has introduced a
series of institutional documents including the Joyoung Information Security Policy Information System Launch Management
System Information Security Incident Management System and Personal Information Protection Management System. These
comprehensively enhance the information security assurance system standardizing and strengthening trade secret management.They prevent internal and external personnel from illegally obtaining disclosing using or permitting others to use company trade
secrets thereby building a robust security barrier for the Company’s sustained and stable development. This year the Company
iteratively optimized the Information Security Incident Management System. By revising the Information System Classification List
based on the impact and severity of information security incidents it further strengthened end-to-end control over information
security incidents.The Company has successfully obtained ISO 27001 Information Security Management System certification and passed a third-
party professional supervision audit during the reporting period. The Joyoung Smart Home Appliance Platform System and Omni-
Channel Operations Platform achieved Level 3 certification under the Information System Security Protection Level System while
the Joyoung Official Website System and Dealer Inventory Management System obtained Level 2 certification.
60
Joyoung Official Website System Obtains Level 2
Information System Security Protection Certification
ISO 27001 Information Security Management Omnichannel Operations Platform Obtains Level 3
System Certification Certificate Information System Security Protection Certification
2025 CSR ReportIn 2025 the Company conducted a total of 12 information security tests with no information security breaches occurring. The
rectification rate for high-risk vulnerabilities reached 100% and the signing rate of the Information Security Confidentiality
Agreement for newly onboarded suppliers remained at 100%. Moving forward the Company will continue to deepen its
commitment to information security consolidate existing information security management systems enhance information security
awareness among all employees and simultaneously focus on improving security operation efficiency strengthening security
audit systems and optimizing security management processes and effectiveness. Simultaneously the Company will implement
technical measures such as data de-identification and encryption to fortify the security barrier protecting user privacy data.By establishing AI agents we will further enhance technical capabilities in scenarios including external attack detection SOAR
(Security Orchestration Automation and Response) automation and internal data leakage prevention. This series of initiatives
will comprehensively elevate the Company’s overall information security assurance level building a robust and reliable security
foundation for the sustained and steady development of our business.Information Security Organizational Structure
Joyoung has established an information security organizational structure centered around the Information Security Committee.This framework spans three major divisions: the Professional Resources Platform Marketing BU and Product BU. The Professional
Resources Platform includes the Information Department Human Resources Department and Legal Department. The Information
Department houses the Information Security Team while the Human Resources and Legal Departments each have one dedicated
specialist. The Information Security Team collaborates with these specialists to execute platform-wide information security tasks.The Marketing BU and Product BU each have three dedicated specialists. All specialists across business units are integrated
into the Information Security Group’s centralized management enabling cross-departmental and comprehensive coverage of
information security collaboration across all business scenarios.Information Security
Committee
61
Information Department
Information Security Group
Human Resources Officer Officer Officer Officer Officer Officer Officer
Legal Department Officer
Professional Resources Platform Marketing BU Product BU
2025 CSR ReportPrivacy Protection and Information Security
Management
The Company has enhanced its overall security posture by establishing a systematic information security
management framework. To ensure accountability information security incidents are incorporated into the
performance evaluations of the Information Department’s Director-level executives. This clear accountability
mechanism reinforces management responsibility and guarantees effective implementation of security measures.Continuous efforts to refine the user privacy protection and information security management system have
strengthened the Company’s compliance standards for privacy data management and information security through
the development and revision of relevant policies. Specific initiatives include:
Personal Information Protection
* Personal information includes name date of birth ID number personal biometric information address
communication contact details communication records and content account passwords financial
information credit information location history accommodation information health and physiological
information transaction information etc.* When collecting personal information the purpose method scope and rules of processing must be
clearly disclosed to users and collection should only occur after obtaining user authorization.* When extending business functions for the first time users must be informed individually through
interactive interfaces (pop-ups prompt boxes audible alerts etc.) about the extended services
provided and the necessary personal information required.* If a user declines to provide personal information required for an extended feature repeated consent
requests are prohibited. If a user voluntarily chooses to enable an extended feature consent may be
requested no more than once within 48 hours.* Users retain the right to correct delete withdraw consent or cancel their accounts regarding their
personal information and these processes should be simple and easy to operate. Withdrawing consent
does not affect the processing of personal information based on consent prior to withdrawal. After a user
62
cancels their account their personal information should be deleted or anonymized.Trade Secret Protection
* Trade secrets include but are not limited to technical secrets operational secrets and other commercial
secrets.* Company trade secrets are classified by importance from highest to lowest as: Top Secret Confidential
and Secret and managed accordingly. Classified carriers such as classified computers and mobile
storage media shall undergo domain and cryptographic technology certification by the Company’s
Information Department.* Product BUs Marketing BUs Professional Resource Platforms and other departments are responsible
for implementing confidentiality management and technical security measures for classified projects
meetings and activities.* Maintenance of classified computers mobile storage media and other carriers shall be handled by
the Company’s Information Department. Where internal units cannot undertake such maintenance
qualified external entities shall be selected and confidentiality measures shall be implemented.* The Research Institute and R&D departments of each business unit (BU) shall compile a “ConfidentialArea List” specifying specific confidential areas authorized personnel access access control systems
and other confidentiality measures.* Individuals who strictly adhere to confidentiality regulations uphold confidentiality discipline diligently
fulfill confidentiality obligations and demonstrate outstanding achievements or contributions in
confidentiality matters shall be recommended to the Human Resources Department for commendation
and rewards.
2025 CSR Report* Employees who violate confidentiality requirements under this system or fail to report breaches of
company trade secrets thereby hindering investigation remediation or causing losses will be subject
to disciplinary actions under the Reward and Punishment Management System based on severity.* Where disclosure of company trade secrets has caused damage or is motivated by personal gain
the Company reserves the right to terminate the employee’s employment contract and pursue civil
liabilities including full compensation for losses cessation of infringement removal of obstacles and
restoration of reputation. In cases of severe circumstances causing substantial losses to the Company
that constitute criminal offenses the Company will refer the matter to judicial authorities for criminal
prosecution.System Launch
* Prior to system launch the project team must deploy the Company’s standardized Interactive
Application Security Testing (IAST) in the system testing environment for vulnerability scanning. In
accordance with the project proposal requirements the following documents must be submitted tothe Company’s Information Department Security Assessment Team: “System Information RegistrationForm” “System Development Specifications – Self-Inspection Report”
* The Security Assessment Team shall conduct a security evaluation of the system issue an assessment
opinion and submit the Security Assessment Notice.* If the system fails to meet security requirements and requires remediation the Security Assessment
Team will conduct a re-evaluation and testing of the project team’s remediation results and submit a
“Remediation Test Report.”
Information Security Prevention Measures
* Dual-machine high availability for data center power/environment monitoring core network and
security equipment
* Data recovery: Data backups are maintained at the Company’s data center in Qiantang District 63
Hangzhou. Additional backup data centers are established in Xiaoshan District Hangzhou and Jinan
City Shandong Province. This two-site three-center architecture ensures data integrity. Monthly
recovery tests are conducted on selected business databases.* The Company employs multiple vulnerability detection methods including source code audits IAST
periodic vulnerability scans and manual penetration testing to identify vulnerabilities. Rapid follow-up
and closure are implemented for all discovered vulnerabilities.Information Security Training
* To strengthen the Company’s information security safeguards and enhance employees’ awarenessof information security the Company organized a company-wide study session on the “InformationSecurity Guidelines.” Additionally specialized information security training was conducted for the
International Marketing Business Unit.
2025 CSR ReportCase Study | Information Security Training
All employees studied the “Information Security Guidelines” and took an exam covering 1400 individuals. The course and
exam combined totaled 1 hour.Information Security Incident Reporting Channels
Frontline employees report anomalies to the Information Security Department. After preliminary assessment confirmed security
incidents are handled by the department which leads the formation of an evaluation team and emergency response team.Depending on the severity and classification of the incident it is escalated to the appropriate leadership level.
64 11 Information Security Issue Reporting Channel
Information Security Officers
of Each Department (HRBP)
Information Security
Issue Department managers
Information Security
Department
External Procurement System Security Management Standards
During the supplier onboarding process the Company employs a competitive bidding model while simultaneously enforcing
stringent security access requirements. To standardize outsourced system security management the Company has established
the “Joyoung Outsourced System Security Management Specifications.” These require that systems provided by developers must
comply with Joyoung’s information security standards: Developers must submit compliance response forms for relevant items
in accordance with the “Joyoung Secure Development Specifications.” Additionally they must commission a professional third-
party security assessment agency to conduct system security testing and issue a “Security Test Report.” The Joyoung Information
Department will review the report and conduct retesting to ultimately determine whether the system meets security access
requirements.Prior to project launch the Joyoung information department will conduct another round of security testing explicitly requiring
that the system contain no high-risk or medium-risk vulnerabilities. Systems with unresolved vulnerabilities will not be permitted
to go live or undergo project acceptance. Upon formalizing supplier partnerships the Company requires suppliers to sign a
confidentiality commitment letter defining confidentiality responsibilities. Developers must promptly rectify identified system
vulnerabilities. Should identical security vulnerabilities recur the developer shall bear all resulting losses and associated costs.
2025 CSR ReportSHARED
RESPONSIBILITY
AND GOVERNANCE
Driving Synergistic Progress
Goals and Indicators addressed in this chapter:Partner Management 67
Industry-University-Research Integration 69
66
2025 CSR ReportPartner Management
To consistently deliver high-quality products to consumers ensuring supply chain resilience and smooth operations is paramount.To this end Joyoung has established a comprehensive supplier management system introducing a series of policy documents
including the “Supplier Onboarding Management System” “Supplier Tiered Management System” “Supplier Quality ManagementSpecifications” “Supplier Performance Management System” “Supplier Quality Star Rating Certification Management System”
and “Supplier Lean Star Rating Certification Management System.” Through initiatives such as cultivating high-quality suppliers
standardizing daily management and performance evaluations and optimizing supplier tier development Joyoung is building a
responsible supply chain that is both resilient and sustainable.In 2025 the Company specifically revised two core systems: the “Supplier Onboarding Management System” and the “SupplierTiered Management System.” The former added two new supplier attributes conflict-of-interest rules for factory audits by supplier
recommenders procedures for resuming cooperation with suppliers inactive for over a year or slated for elimination and special
provisions for ODM project supplier onboarding. The latter adjusted core product lines by removing the meat grinder category and
adding health pots handheld steamers and tea bar machines.Supplier Onboarding
Joyoung actively seeks partnerships with suppliers meeting high-quality standards and prioritizing environmental and social
responsibility. We adhere to fair and impartial principles in supplier selection identifying and managing environmental and
social risks during the onboarding phase. Suppliers must comply with national laws and regulations and obtain authoritative
certifications. Core suppliers require ISO 9001 Quality Management System certification; food-grade component suppliers must
hold FDA food safety certification or IECQ QC 080000 Hazardous Substance Process Management System certification. Suppliers
involved in production environmental pollution must obtain ISO 14001 certification. In addition suppliers are required to submit
statutory documents such as Environmental Impact Statements Pollution Discharge Permits and Fire Safety Inspection Certificates.Only suppliers passing hardware qualification reviews may proceed to subsequent evaluation stages. We conduct comprehensive
assessments of suppliers across three dimensions – quality technology and business – selecting the most suitable partners. Prior
to formal collaboration suppliers must read and acknowledge the Supplier Code of Conduct to ensure business cooperation aligns
with responsible standards.
67 The Company evaluates and selects suppliers based on business needs and requirements considering factors such as quality
price reliability and overall value. Supplier audits and site visits are arranged as necessary to ensure compliance with all our
requirements. We conduct annual audits to verify suppliers’ adherence to environmental and social standards particularly ensuring
environmental and social responsibility. The Company’s supplier management requirements are as follows:
Supplier Code of Conduct Procurement Integrity Management
Suppliers must acknowledge and adhere to The production and purchase contract signed
the “Supplier Code of Conduct” established between the Company and suppliers includes
by Joyoung. This code c lear ly st ipulates provisions and signatures related to the integrity
requirements regarding anti-discrimination cooperation agreement. We do not tolerate any
anti-harassment prohibition of child labor and form of corruption or bribery.forced labor health and safety environmental
protection and other critical issues to ensure
the establishment of a reliable and responsible
supply chain.
2025 CSR ReportBy 2025 no violations related to environmental or social issues were identified during supplier access inspections. The signing
rate for the integrity cooperation agreement and the Joyoung Group partner conduct commitment reached 100%. In 2025 the
Company had a total of 233 suppliers. The data on supplier categorization is as follows:
Indicators Unit 2025 2024
Total number of suppliers suppliers 233 270
Tier 1 suppliers suppliers 98 123
Key tier 1 suppliers suppliers 18 27
Key tier 1 suppliers in Mainland suppliers 18 27
China
Key Tier 1 suppliers in other suppliers 0 0
Regions
Supplier Evaluation
The Company evaluates and incentivizes suppliers through multiple assessment dimensions consistently implementing monitoring
mechanisms and quality continuous improvement systems. Based on assessment results suppliers are categorized into four tiers: A
B C and D. Procurement measures are adjusted according to tier with corresponding reward or penalty measures established.Tiered Supplier Management
68
Category A: Priority procurement deepen cooperation
Category B: Continue cooperation while providing guidance to improve low-scoring items
Category C: Requires rectification and undergoes semi-annual verification and review
Category D: Disqualified from annual awards suspended from bidding for a specified period or eliminated
The Company employs a star-rating system during evaluations categorizing suppliers into four tiers: below three stars three stars
four stars and five stars. Suppliers rated below three stars must implement corrective actions; those failing to meet standards
will be eliminated. Outstanding suppliers receive preferential treatment. At the same time the Company conducts unscheduled
supplier spot checks and unannounced inspections to ensure timely issue identification and rectification. Through incentives and
elimination measures it weeds out lagging suppliers with weak improvement intent while driving those with strong improvement
intent thereby safeguarding overall supply chain quality.In 2025 we conducted three supplier audits covering 14 key Tier 1 suppliers with no violations identified in environmental or social
issues.
2025 CSR ReportSupplier Communication and Empowerment
Joyoung regards supplier communication as a vital tool in supplier management providing a platform for mutual learning and
improvement. The Company annually hosts quality conferences supplier summits and capability training sessions to enhance
supplier management effectiveness and solidify collaborative foundations. In 2025 training services were provided to 49 suppliers
totaling 235 hours.Furthermore we emphasize mutual benefit with suppliers. We collaborate with outstanding suppliers on joint R&D initiatives and
share research outcomes while incorporating their superior manufacturing capabilities to empower our own production system
achieving shared growth with suppliers.In 2025 we implemented diverse supplier capability enhancement programs aimed at comprehensively improving suppliers’
manufacturing quality testing planning and delivery capabilities. We established dedicated teams to empower suppliers in
areas such as bill of materials management for complete units monthly production capacity reviews daily material tracking
management routine planning report management and delivery anomaly escalation mechanisms. We also developed assessment
constraints and incentive mechanisms for them striving to integrate the entire chain of order planning and delivery tasks enhance
the stability of the parts delivery chain shorten the procurement cycle time for long-lead-time materials and improve on-time
delivery achievement rates.Industry-University-Research Integration
Joyoung maintains close ties with universities and research institutions through established
practice bases actively supporting academic innovation education and internship
programs. We welcome faculty and students to participate in Joyoung’s internships
and research initiatives. Adhering to principles of multi-level multi-channel multi-
format engagement with a focus on practical outcomes both parties leverage their
respective strengths in professional talent development. By complementing each other’s
69 expertise we cultivate high-caliber innovation and entrepreneurship talent achieving
mutual progress and growth. In accordance with the relevant management regulations
for Zhejiang Provincial Science and Technology Plan Projects and based on project
acceptance results the Zhejiang Provincial Science and Technology Plan Project jointly
developed by the Company Zhejiang University of Technology and the Ningbo Institute
of Materials Technology and Engineering of the Chinese Academy of Sciences obtained its
acceptance certificate in March 2025.
2025 CSR ReportUNITING
Cultivating Joyoung Talents
Goals and Indicators addressed in this chapter:Protecting Employee Rights & Interests 72
Supporting Employee Development 77
Protecting Employee Health 78
Caring for Employees 81
71
2025 CSR ReportProtecting Employee Rights & Interests
Joyoung integrates employee rights protection with sustainable development prioritizing employee well-being as the foundation
and career growth as the core. Its steady progress relies on an inclusive healthy and motivating work environment. We safeguard
employees’ physical and mental health while empowering them to build future-ready skills during economic transitions enhancing
their resilience. We strictly adhere to the Labor Law of the People’s Republic of China and the Labor Contract Law of the People’s
Republic of China implementing fair equitable and inclusive management practices throughout the employment lifecycle. By
focusing on employee growth pathways we achieve shared development between the Company and its workforce creating a
win-win future together.Equal Employment
To provide guidance on respecting and promoting equal opportunity company policies establish a commitment to equal
opportunity for job applicants equal pay for men and women for work of equal value and the necessity of a harassment-
free and discrimination-free environment. Anti-discrimination topics are included in all new employee orientation training. We
guarantee equal pay for equal work regardless of gender ensure all employees are treated fairly without discrimination based on
personal backgrounds such as religion gender age or disability and prohibit any form of discrimination insult or harassment.The Company continues to thoroughly implement laws and regulations such as the Law of the People’s Republic of China on
the Protection of Persons with Disabilities. We make appropriate employment arrangements for persons with disabilities ensure
equal participation in work and company activities for employees with disabilities and guarantee that all employees enjoy equal
opportunities in hiring training and promotion. Employees encountering related issues may directly report them to departmental
human resources or audit and supervision with relevant departments conducting investigations and handling matters accordingly.In 2025 the Company employed a total of 31 employees with disabilities including 23 males and 8 females.Attracting and Retaining Talent
High-quality talent resources are the Company’s most valuable asset and core competitive advantage forming the foundation
for sustainable development. Therefore Joyoung is committed to refining its employment policies to attract develop and
retain talent. Upholding a people-oriented principle the Company respects and safeguards the lawful rights and interests of
72 all employees standardizes labor and employment management and ensures occupational health and safety. The Company
prioritizes attracting top talent by publicly posting job openings through multiple channels including its official website official
WeChat public account third-party recruitment platforms and offline job fairs. At the same time we actively engage in university-
enterprise collaborations cultivating talent through the J Project6. Senior executives serve as professional mentors to establish
internal development mechanisms. During the Spring 2025 and Fall 2026 campus recruitment seasons we recruited 2025 and
2026 graduates respectively receiving over 230000 resumes and hiring approximately 50 individuals (including both onboarding
and pre-hires). We recruit top talent through diverse channels while upholding principles of transparency and fairness. We commit
to providing equal hiring opportunities for all candidates. In our transparent and welcoming recruitment process criteria such as
competency academic background practical job requirements functional expertise and language proficiency are evaluated. The
Company’s employee composition is detailed as follows:
Note:
6. Project J refers to the Joyoung Campus Recruitment Program.
2025 CSR ReportIndicators 2025 2024
Total headcount 2100 2342
By gender Male 1282 1460
Female 818 882
By age group Under 29 years old 641 804
30 to 39 years old 1004 1106
40 to 49 years old 401 379
50 years old and above 54 53
By employment category Entry-level employees 1187 1328
– Number of female employees in 526 567
entry-level 583 630
Junior management
– Number of female in junior 198 215
management 279 320
Middle management 86 88
– Number of female in middle 51 65
management 8 12
Senior management
– Number of female in senior
management
Number of employees by Master’s degree and above 239 269
educational attainment Bachelor’s degree 1266 1416
Associate degree 431 477
Vocational high school and high school 136 149 73
Below vocational high school 28 31
Employee regional breakdown Mainland China 2099 2339
Hong Kong Macau and Taiwan – 2
Others in Asia 1 1
Employee specialization Production personnel 375 469
Sales personnel 417 459
Technical staff 683 698
Finance personnel 65 60
Administrative staff 58 62
Other management personnel 194 218
Other professional personnel 308 376
Revenue-generating functions Male 232 248
Female 212 240
Revenue-generating functions Male 608 704
and STEM7 position distribution Female 389 415
Persons with disabilities Male 23 24
Female 8 8
Note:
7. STEM is an acronym for Science Technology Engineering and Mathematics. STEM professionals refer to those whose daily work involves
significant application of knowledge related to science technology engineering or mathematics.
2025 CSR ReportIn 2025 the composition of new hires is as follows:
Indicators 2025 2024
Total number of new hires 303 540
By gender Male 164 233
Female 139 307
By age group Under 29 years old 261 277
30 to 39 years old 40 164
40 to 49 years old 2 98
50 years old and older – 1
By employment category Entry-level employees 275 459
Entry-level management 22 65
Middle management 6 14
Senior management – 2
Employee regional breakdown Mainland China 303 540
Hong Kong Macau and Taiwan 0 0
Others in Asia 0 0
In employee promotion and development the Company consistently adheres to the principles of fairness impartiality and
transparency. It has established a scientific performance evaluation and career advancement system viewing talent as the
cornerstone of the enterprise’s sustainable development.
74
Performance Evaluation Level Career Advancement and Development
The Company has established a standardized The Company is committed to building diversified
evaluation mechanism that conducts objective career development pathways to meet the
and comprehensive performance assessments growth needs of employees across different
based on employees’ job responsibi l i t ies job sequences: For core positions such as
and work objectives. It also emphasizes the technical and managerial roles multiple career
timeliness and effectiveness of performance development options are provided supporting
communication providing employees with employees to deepen expertise in specialized
regular and constructive performance feedback fields or transition into management based
to help them identify areas for skill enhancement. on their capabilities and career plans. For
Additionally the Company has improved its frontline operational roles a systematic skill-
performance appeal channels to safeguard level assessment mechanism is established
employees’ legitimate rights and interests during encouraging employees to advance their careers
the evaluation process ensuring the fairness and through skill enhancement. Furthermore the
credibility of the assessment procedures. Company integrates performance evaluation
outcomes with career advancement prioritizing
promotion opportunities or competitive selection
eligibil ity for employees with outstanding
performance. This approach helps exceptional
talent stand out achieving synergistic success
between individual career development and
corporate strategic objectives.
2025 CSR ReportPreventing Child Labor and Forced Labor
Joyoung remains steadfast in its commitment to comply with all relevant laws and regulations prohibiting child labor or forced
labor in the workplace. A detailed employee handbook has been established to ensure applicants meet the legal working age.During the recruitment process the human resources department verifies applicants’ identification documents including academic
certificates ID cards and place of origin information. Through such identity verification the Company takes proactive measures to
confirm candidates’ eligibility and uphold its commitment to ethical employment practices. Employees are encouraged to report
any violations directly to the human resources department or senior management for immediate investigation termination of
employment contracts and disciplinary action against the relevant employees. Where necessary the Company will further refine
its mechanisms for addressing labor violations.The Company strictly prohibits punitive measures or behaviors such as verbal abuse corporal punishment violence psychological
oppression or sexual harassment (including inappropriate language gestures and physical contact) against employees for any
reason. Any employee found violating these regulations will have their probationary period or employment contract terminated
immediately in accordance with the employee handbook. When requiring employees to work overtime the Company shall consult
with employees and the labor union and pay overtime wages in accordance with the Labor Law. As of 2025 Joyoung is not
aware of any material violations of laws and regulations concerning child labor and forced labor that could significantly impact
the Company including but not limited to the Labor Law of the People’s Republic of China and the Regulations of the People’s
Republic of China on the Prohibition of Child Labor.Compensation and Benefits
The Company offers attractive and competitive compensation packages along with multiple benefits. Salary structures are
reviewed regularly to ensure colleagues are motivated in a manner consistent with the Company’s culture and values. Daily wages
are determined by referencing external market levels combined with job value individual performance ratings and capabilities.Salaries are adjusted accordingly when job roles change. The Company’s approach helps colleagues clarify performance
expectations identify development opportunities and access necessary resources. To establish an internally equitable and market-
competitive compensation system the Company has implemented the compensation management system. Guided by the principle 75
of “shared benefits and shared risks” it ensures employee wages exceed local minimum wage requirements. The compensation
structure comprises base salary allowances and incentive bonuses enabling employees to share in the Company’s success.Annual plans are developed based on corporate strategy with year-end distributions determined by Company profitability
departmental performance and individual contributions.To convey the Company’s corporate culture and values while implementing humanized care and differentiated support the
Company designs multi-dimensional welfare programs. These initiatives align employee behavior with corporate development
effectively enhancing employee satisfaction with benefits and fostering a sense of belonging to the organization thereby uniting
all staff in collective growth. For female employees the Company provides exclusive holiday benefits on International Women’s
Day and organizes special activities such as on-site free consultations with doctors from women’s and children’s hospitals.Employees facing major unexpected family crises receive tiered one-time subsidies based on actual household expenses. At the
same time the Company maintains 100% coverage for social insurance and medical insurance. Beyond fulfilling basic statutory
benefits outlined in the welfare management system and its supplementary notes it introduces distinctive perks such as holiday
gifts shuttle bus services and educational assistance programs. This comprehensive approach weaves a robust safety net of
employee care tangibly enhancing belonging and cohesion.
2025 CSR ReportBasic Benefits Special Benefits
* Six Insurances and One Fund (Pension * Six Essential Visits (Birthday/marriage/
insurance unemployment insurance work childbirth/illness/accident/funeral support)
injury insurance maternity insurance medical
insurance commercial insurance housing * Educat ion and Train ing Ass istance
provident fund) (Encouraging employees to pursue further
education or professional certifications with
* Statutory Leave Entitlements (Statutory bonuses)
ho l idays s ick leave marr iage leave
bereavement leave maternity leave for * Holiday Benefits (Distribution of holiday
female employees etc.) benefits)
* Comprehensive Health Checkups (Annual * Allowance Benefits (Meal subsid ies
free health screenings for all employees) dormitory shuttle bus)
* High-Temperature Allowance * Flexible Benefits (Project-based rewards
based on employee contributions)
For female employees the Company provides International Women’s Day benefits and organizes festive activities (e.g. on-site free
consultations by doctors from women’s and children’s hospitals). For employees facing hardship due to major family emergencies
one-time subsidies are granted at varying levels based on actual expenses incurred.
76 Democratic Management and Employee Participation
Communication with employees is a vital component of our focus on gathering employee perspectives and amplifying collective
voices. This environment fosters employee well-being and enables them to maximize their potential. Employees may freely express
opinions or file complaints through various communication channels including internal email external email and employee
surveys. Communication mechanisms undergo regular evaluations to ensure effectiveness. Employees dissatisfied with their work
may file complaints with their supervisor or the Human Resources department. Management will investigate complaints fairly and
impartially taking appropriate action. Regarding human rights issues the Company regularly conducts training for all newly hired
full-time employees. This training covers corporate values employee welfare and complaint channels. This year approximately 200
employees participated with an average training duration of 3.5 hours per person. In September 2025 Joyoung convened its 8th
employee representative conference. The trade union chairperson spoke on behalf of employee representatives while the senior
manager of compensation & benefits represented the Company. Employee representatives from HR compensation performance &
attendance management and benefits management also presented relevant policies. Employees offered suggestions on corporate
development plans production operations and employee interests enhancing efficient communication between the Company and
its workforce. In 2025 the proportion of Joyoung employees represented by an independent labor union or covered by collective
bargaining agreements reached 100% with a total of 91 employees participating in the employee representative conference.
2025 CSR ReportSupporting Employee Development
The Company is committed to building a competitive talent development system including new employee growth high-potential
development and leadership enhancement for managers ensuring robust talent pipeline development. To meet employees’
diverse career development needs the Company established two pathways: a management development track and a professional
development track. Clear performance evaluation standards promotion procedures and career path planning are provided for
employees.This year we continued updating the New Employee Training Management System and Mentor Guidance Management System
further refining the new employee onboarding template. Company training primarily falls into three categories: leadership
development professional skills training and new employee orientation. Key initiatives this year included the Mid-Level
Management Bootcamp Product Manager Specialized Training Structural Engineering Bootcamp Electronic Control Elite Training
and Patent Lecture Series. These programs collectively delivered over 200 sessions training more than 5600 participants with
approximately 90% coverage at a total expenditure of approximately RMB1 million.Additionally the Mid-Level Management Training Camp stands as this year’s flagship leadership development initiative. Tailored to
organizational needs and real-world management scenarios it features custom-designed curriculum frameworks teaching cases
and training formats. Through a “learning + practice + coaching” triad model it drives participants’ transformation from knowledge
acquisition to actionable implementation. Running from June to October this program deeply empowered over 80 mid-level
managers. Through multi-tiered training both management and employees achieved self-improvement growing alongside the
Company and providing a positive driving force for its sustainable development. In 2025 the Company’s annual employee training
statistics are as follows:
Indicators Unit 2025
Total employees trained employees 1876
– Number of female employees trained employees 729
– Number of male employees trained employees 1147 77
– Number of frontline employees receiving training employees 1575
– Number of management personnel trained employees 301
Average training hours per employee hours 25
– Average training hours for female employees hours 16.95
– Average training hours for male employees hours 30.06
– Average training hours for frontline employees hours 18.22
– Average training hours for management hours 31.78
Number of employee training sessions times 248
Employee training expenditure amount RMB’0000 107.55
Employee training coverage rate percentage 89.33%
The human resources team collaborates with audit and supervision to conduct regular training for new employees through online
self-study and in-person sessions. These sessions cover corporate red lines response measures and feedback channels. This year
approximately 200 individuals were trained with an average training duration of 1.5 hours per person. This excludes contractors
suppliers and other external parties.
2025 CSR ReportProtecting Employee Health
Occupational Health and Safety Management SystemGuided by our occupational health and safety management principle–”people-orientedharmonious management risk reduction safety and health”–we prioritize safeguarding
employee well-being above all. We strictly adhere to laws and regulations including the Work
Safety Law of the People’s Republic of China and the Occupational Disease Prevention and
Control Law of the People’s Republic of China. Our comprehensive safety management system
includes internal protocols such as the Environmental Factors and Hazard Control Procedure
Fire Safety Management System and Safety Education and Training Management System
ensuring employee health and workplace security. In 2025 we further strengthened our safety
management structure by appointing dedicated safety officers and clarifying the responsibilities
of the Safety Director and Safety Management Department. This ensures every aspect of
production safety has designated personnel accountable. Detailed protocols for emergency
response and safeguards have been established to guarantee swift and effective handling of
critical situations. Joyoung has obtained ISO 45001 Occupational Health and Safety Management
System certification and is building upon this foundation to advance the upgrading of our
occupational health and safety management system.ISO 45001 Occupational Health
and Safety Management
Health and Safety Measures System Certification
The Company systematically implements workplace safety precautions and employee health and safety safeguards committed to
eliminating potential hazards and ensuring employee well-being. The management system is built around four core dimensions:
Daily Safety Inspections and Equipment Management Third-Party and Special Operations Control
Routine Safety Inspections: The Security Team External Party Management: External contractors
conducts monthly inspections of firefighting equipment and construction teams must sign safety responsibility
and hazard identification in high-risk areas; departments agreements and undergo safety training before
78 perform monthly 6S inspections; responsible departments commencing work. Safety inspections are conducted
conduct daily checks of chemical storage facilities. during construction.Special Equipment Management: Daily inspections Special Operations Approval: Establish and enforce
regular maintenance and calibration are performed on dedicated approval procedures for special operations
special equipment to ensure operational effectiveness. such as hot work and excavation.Emergency Response and Drills Risk Prevention and Personnel Safety Education
Conduct regular fire emergency drills (5 conducted this Hazard Identification: Departments annually identify
year) to ensure calm response and orderly evacuation and evaluate hazards updating assessments when
during fires. operations or facilities change. New employee training
includes environmental factors and hazard recognition.Specialized emergency drills for scenarios like chemical
spills and electrical shocks are organized by relevant Three-Tier Safety Training: New employees complete
departments. company-level department-level and position-level
training during probation covering safety regulations
hazard identification PPE usage and fire evacuation.
2025 CSR ReportIn 2025 we strictly implemented the primary responsibility system as required conducted self-inspections and self-corrections for
production safety and actively advanced corporate safety culture development and employee safety training. Specific details are as
follows:
Indicators Unit 2025 2024
Conduct monthly inspections times 12 12
in collaboration with
department safety officers and
property management
Identify safety hazards times 78 69
Rectification cases 78 69
Identify daily fire safety cases 62 94
inspection hazards
On-site corrections cases 62 94
Rectification rate reached % 100 100
Annual daily inspection hazard times 442 949
identification report
Indicators Unit 2025 2024
79
Organize annual work safety times 11 11
training
Total number of training participants 1579 1012
participants reached
Work-related fatalities persons 0 0
Number of work-related incidents 4 4
injuries
Workdays lost due to work- days 131 89
related injuries
2025 CSR ReportCase | Safety Training
In July 2025 the Company organized a specialized safety training program themed “Safety for All Preparedness for Everyone.”
The curriculum comprehensively covered key areas including safety production laws and regulations fundamental safety
knowledge occupational health management fire safety standards and chemical safety management emphasizing both
theoretical instruction and practical guidance. This training aimed to strengthen safety awareness among all employees andsystematically enhance their safety literacy. It fully demonstrated the Company’s core operational philosophy of “people-oriented” guiding all employees to firmly establish the guiding principle of “safety first prevention foremost andcomprehensive governance” to effectively prevent potential hazards before they arise. Through the training employees were
further encouraged to consciously adhere to all safety rules and regulations proactively identify and eliminate various unsafe
conditions resolutely prevent safety accidents and collectively build a solid defense for the Company’s production safety.Occupational Disease Prevention
80
Joyoung places high importance on occupational disease prevention. The Company conducts three-tier safety education and
training for employees maintaining detailed records. We safeguard employee health through dual approaches: individual
prevention measures and workplace environmental controls. In accordance with the Occupational Disease Prevention and Control
Law of the People’s Republic of China and the Company’s Occupational Disease Prevention Measures occupational health
surveillance records are established. For employee prevention we have implemented the Occupational Health Examination
Management Measures adding standardized procedures for occupational health examinations to protect employee health and
safety. Potential occupational health hazards are communicated and compliance with protective equipment usage is monitored.We require personnel entering high-risk occupational disease positions to sign an Occupational Hazard Factors Disclosure
Statement prior to employment. By 2025 the Company will optimize the Personal Occupational Health Surveillance Form and
Occupational Hazard Factors Disclosure Statement to inform employees of all potential hazard scenarios ensuring their full right
to know .Additionally employees in high-risk occupational disease positions undergo occupational health examinations before
starting work during employment and upon leaving their positions. Concurrently occupational health records are established to
track changes in employees’ physical health. For positions involving occupational hazards such as noise employees are required
to wear protective equipment like earplugs when entering the workplace to ensure adequate occupational disease prevention.Regarding the work environment the Company conducts annual hazard identification and monitoring of harmful factors in all
workplaces to ensure a high level of safety.The Company ensures 100% coverage for employees’ work injury insurance and production safety liability insurance annually. By
2025 the Company aims to achieve zero case of occupational diseases.
2025 CSR ReportCaring for Employees
Joyoung consistently upholds an employee-centric philosophy striving to create a healthy diverse warm and inclusive work-
life environment where care permeates every aspect of growth. We cultivate a culture of perseverance conveying the power of
striving through our Annual Theme Film. Through columns like “Role Models/Experts” “Pioneers Riding the Wind and Waves”
and “Sunshine Service Stars” on the Company’s “Joyoung People” official account we recognize outstanding individuals set
benchmarks and let strivers shine.Furthermore to focus on the growth needs of young employees the Company provides a stage for them to showcase their talents
through employee assemblies. The HCM online “Role Model Badge” system documents the growth journey of young employees
while the “Health Run 400” initiative promotes healthy lifestyle habits. The “Joyoung Employee Code of Conduct” guides young
employees toward positive development as they pursue their dreams.Employee Assembly Health Run Joyoung Employee
Code of Conduct
The Company further fosters a warm harmonious “home-like” atmosphere through initiatives like the Love Corner Mommy Room
Matchmaker Awards Employee Book Corner Family Carnival and the “Integrity Comics” 2.0. These efforts cultivate a corporate
family culture enhance a sense of belonging and happiness and unite employee strength.Case | Joyoung Mommy Room
Joyoung has long prioritized care for female employees.To meet nursing mothers’ need for private spaces the 81
Company has specially constructed “Mommy Rooms”
at its Hangzhou and Jinan campuses providing a safe
comfortable and convenient environment for breastfeeding
women. Equipped with sinks refrigerators sofas direct-
drinking water purifiers and sterilization cabinets these
rooms address practical challenges faced by women
returning to work after childbirth actively creating family-
friendly workplaces.
2025 CSR ReportWORKING
TOGETHER
Building a Better Society
Goals and Indicators addressed in this chapter:Joyoung Charity 84
83
2025 CSR ReportJoyoung CharitySince its founding Joyoung has consistently upheld the core value of “Uniting the Power of Goodness Creating a Better LifeThrough Health.” We have internalized social responsibility as our core mission continuously responding to societal expectations
with concrete actions while focusing on innovation in healthy kitchen appliances and meeting people’s daily needs. We deeply
understand that corporate growth and societal development are inextricably linked. Therefore while deepening our core business
we remain committed to enhancing people’s well-being and community building fulfilling our responsibilities across multiple
dimensions. Through technological innovation and industrial upgrading Joyoung creates stable employment opportunities. By
empowering industries it supports rural revitalization and county-level economic growth. Leveraging its core strengths the
Company promotes green low-carbon cooking concepts and energy-efficient products while enhancing public quality of life
through health education initiatives. Simultaneously Joyoung maintains a steadfast focus on the needs of vulnerable groups
conveying compassion through charitable actions such as educational support medical aid and disaster relief donations thereby
contributing to an inclusive and equitable social ecosystem.The national “15th Five-Year Plan” charts a new course for philanthropy aligning charitable initiatives closely with national
strategies like rural revitalization as a key force in the third distribution. Accelerated legal reforms within the sector shift policy
focus toward both “promotion and regulation” while corporate philanthropy consensus centers on integrating core competencies
to address social challenges. The industry is advancing toward a new phase of strategic standardization. In the new phase
of development ahead the Foundation remains steadfast in its founding mission of “Creating a Better Life with Health.” It
will focus on the core issue of “Youth Nutrition and Health” deepen its dual-core model of “Public Welfare Kitchen + FoodEducation Workshop” and align with national strategies such as rural revitalization healthy China and education-driven national
development. By integrating donors’ philanthropic aspirations with Joyoung’s core business strengths the Foundation will develop
solutions to social challenges. Its goal is to become a nationally exemplary 5A-rated public welfare foundation that demonstrates
professional leadership and significant impact within its vertical domain. Over the next four years the Foundation will advance
four strategic upgrades: evolving from a “scale replicator” to a “quality leader” from a “project implementer” to an “innovationintegrator” from a “resource contributor” to a “resource integrator” and from a “regulatory explorer” to a “benchmark exemplar.”
From 2008 to 2025 the Company’s cumulative charitable investment exceeded RMB150 million. In 2025 the total number of
employees participating in volunteer activities reached 401 people with a total volunteer service time of 3254 hours and an
average volunteer activity time per person of 8 hours.
84
Public Welfare Kitchen
Guided by the principle of “ensuring children eat well” the Joyoung Public Welfare Kitchen Project has committed to allocating
no less than RMB110 million over a decade starting in 2021 through the Joyoung Public Welfare Foundation. These funds will
support initiatives like the “Joyoung Public Welfare Kitchen” and “Food Education Workshops.” Concurrently the foundation aims
to select 100 schools annually in rural areas nationwide investing RMB30000 to RMB150000 per school. Through design plans
infrastructure upgrades equipment provision and staff training it builds professional eco-friendly and efficient standardized
kitchens to empower school meal programs and support youth development. By 2025 the “Joyoung Public Welfare Kitchens”
project will continue its deepening efforts advancing the funding and construction of 125 Joyoung Public Welfare Kitchens.This brings the cumulative total to 1743 kitchens benefiting over 600000 teachers and students daily. Future work will focus on
deepening operational assessments consolidating cooperative models and advancing the project from “building well” to “usingwell and managing well” through systematic support.Over the next four years we plan to construct no fewer than 100 Public Welfare Kitchens annually bringing the cumulative total to
over 2100 facilities covering more than 300 counties (districts) nationwide. We will establish 20 model counties/districts achieving
full project coverage benefiting over 800000 students daily and cumulatively serving more than 3 million student beneficiaries.Additionally Joyoung’s Public Welfare Kitchen project operations will undergo continuous optimization. This includes providing
professional kitchen workflow design and functional zoning refining an equipment catalog to over 60 items and implementing
digital platform management throughout the entire project lifecycle. By enhancing supplier service capabilities and product quality
procurement costs will be reduced by 10%. We will introduce a “three-year warranty five-year service guarantee” for product
after-sales support establish a 24-hour response mechanism and dedicated service hotline and create a sustainable funding
mechanism.
2025 CSR ReportCase | Brightening Rural Education with the Warmth of Joyoung’s Kindest Hearts
On 1 June 2025 the traditional Dragon Boat Festival coincided with Children’s Day. Twenty volunteers from various
positions at Joyoung enthusiastically responded to the call for public service. Utilizing their spare time outside of work
and daily life they traveled to 云南麗江永胜縣洱良小学 宁夏灵武市涇兴小学 東濱州市沾化區馮家鎮第三小學 and 江西
上饒橫峰縣方志敏希望小學. Through their actions they did their utmost to illuminate rural public welfare education by
pooling individual efforts.Food Education Workshop
The Food Education Workshop project upholds the vision of “empowering every child with the ability to maintain lifelong health.” It is
dedicated to creating educational spaces within kitchen settings using cooking as a teaching medium to promote food education
and support the healthy growth of children and adolescents. The project aims to promote traditional dietary culture impart
nutrition and health knowledge cultivate good eating habits and dining etiquette and enhance students’ collaborative skills
innovative thinking and aesthetic abilities. The Joyoung Public Welfare Foundation hopes this initiative will empower every child to
maintain lifelong health and enjoy a wholesome life. By 2025 251 food education teachers will be trained bringing the cumulative
85
total to 1426 over the years.The “Food Education Workshop” project has achieved intrinsic development. By providing curriculum teaching aids and teacher
training the initiative integrates labor education nutritional knowledge and cultural heritage to cultivate children’s ability to
maintain lifelong health. As of the reporting period the Joyoung Public Welfare Foundation has funded the establishment of 50
Food Education Workshops bringing the cumulative total to 356 over the years. This effort has made a positive contributionsto the comprehensive development and healthy growth of youth. In the future Joyoung will drive initiatives centered on “foodeducation” collaborating with international organizations to explore global health-conscious eating advocacy campaigns. We will
integrate the strengths of global industry and philanthropic partners. Concurrently we will explore the integration and incubation
of “sports + health” philanthropic projects while conducting cross-regional project exploration and resource development (e.g.Hong Kong Macao and Taiwan regions of China).
2025 CSR ReportCase | Food Education Around the World: Crafting a Seasonal Feast of Childhood DelightsThe Joyoung Public Welfare Foundation and 滨城區第二实驗小学 jointly hosted the second “Savoring the SeasonsNurturing the Future” Food Education Adventure and Children’s Day Celebration Series. This event blended traditional
culture hands-on labor health concepts and local customs allowing children to nourish their minds and bodies through
active participation while deeply appreciating the truth that “life is education.” Beyond adding vibrant joy to children’s
Children’s Day celebrations the event planted seeds of life appreciation nature respect cultural heritage and innovative
exploration deep within their hearts.Case | Creating a New Future for Children Through the “Slow Variable” of Food EducationDriven by a series of policies including the “Tutorial for Outline of theHealthy China 2030 Plan” food education has emerged as a crucial
86 tool for cultivating core competencies in youth and advancing
the healthy China initiative. To provide an empowering platform
and communication hub for outstanding food education teachers
nationwide Joyoung Public Welfare has invited 30 principals
education bureau leaders and disease control experts from eight
provinces to gather in Pinghu Zhejiang for the second Joyoung
Public Welfare Food Education Study Tour. Last November the
300th Food Education Workshop was inaugurated in Zhengzhou
coinciding with the inaugural Teacher Study Tour.
2025 CSR ReportGrowing Towards the Sun
Since 2022 the Joyoung Public Welfare Foundation has partnered with the Zhejiang Women and Children Foundation to launch
the “Growing Towards the Sun” initiative. Through educational support and companionship programs it assists children without
parental care and scattered orphans in enhancing their self-protection survival and social interaction skills thereby promoting
social harmony and progress while collectively witnessing the growth of these children. This initiative fosters employees’ empathy
for public welfare by pairing them annually for micro-charity activities like the “New Year’s Small Wishes” campaign achieving
over 800 employee engagements. To date “Growing Towards the Sun” has supported 144 disadvantaged adolescents–60 primary
school students 40 middle school students and 44 high school students – primarily in 10 mountainous and island counties
including Lishui Quzhou and Taizhou. The project has provided cumulative support to 193 individuals. Future plans include
expanding growth-support activities such as “Career Exploration Camps” and “Educational Study Tours.”
Case | Small Wishes Brighten Difficult Childhoods Love “Sticks” Us Together
As another year draws to a close and we welcome the new Joyoung
Public Welfare’s “Growing Towards the Sun” charity initiative
partnered with the Zhejiang Women and Children Foundation to
deliver Spring Festival blessings to underprivileged youth. In the
picturesque Jinshi Village of Qingyuan County Lishui City we joined
the children in making traditional yellow rice cakes solving lantern
riddles and exchanging well-wishes. Amidst laughter and joy we
celebrated the Southern Xiaonian and welcomed the Year of theSnake. In late December we launched the “Light Up the Wishesof Children in Need” charity initiative among Joyoung employees
encouraging them to pair up one-on-one to fulfill the children’s
small wishes. Joyoung staff participated enthusiastically with some
dedicated employees even taking on the wishes of multiple children.
87
2025 CSR ReportMicro Love Walk
Micro Love Walk advocates for public welfare through action accumulating small steps into great compassion. As the signature
initiative of the Public Welfare Kitchen it connects donors with projects through fitness and health. Coordinated across Hangzhou
and Jinan the campaign has held eight consecutive events. Online platforms have initiated donations totaling over 2 billion
steps while offline participation exceeded 3000 attendees. The initiative raised RMB160000 in public donations. Through years
of sustained operation Micro Love Walk has become a vital bridge connecting the Foundation with donors beneficiaries and
volunteer partners. It has cultivated a core group of deeply engaged volunteers with strong philanthropic commitment.Case | 2025 Joyoung Micro Love Walk – Giving It Our All!
The 2025 Joyoung Micro Love Walk Charity Jinan Station kicked off
energetically at 9:00 AM on 19 April. Participants gathered at 仲官
鎮中心小學 in Licheng District fully equipped for the competition.The route spanned a full 13 kilometers. As wave after wave of
competitors crossed the finish line the event concluded successfully.Organizers presented completion certificates and medals to every
finisher. Participants beamed with satisfaction capturing memorable
moments and group photos at the checkpoints.
88 Case | 2025 Joyoung Micro Love Walk Ignites Passionate Start Charity Spirit Infuses Chashan
At 9:30 AM on 13 April 2025 a resounding trumpet blast signaled
the start as 188 teams energetically kicked off their run in
Hangzhou’s Changdai Village. This Micro Love Walk charity event
featured an 11-kilometer route with scenery as picturesque as
ever. As participants crossed the finish line one after another they
conveyed their passion and determination to support charitable
causes. Now in its eighth consecutive year this charity walk not only
promotes physical fitness but also nurtures kindness that enriches
others’ lives through action.
2025 CSR ReportIndex of Indicators
Environmental Social
and Governance
Title SZSE: the Guidelines Reporting Code GRI SDGs
About this Report 2-2; 2-3
Message from the Chairman 2-22
Key Performance Indicators 2-14; 2-29
(KPIs)
About Joyoung
Company Profile 2-1; 2-6
Corporate Culture
Milestones
2025 Honorary Achievements
Sustainable Development 2-22
Strategy
Sustainable Development Management
Board Statement 2-14; 2-19
Stakeholder Engagement Stakeholder 2-16; 2-29
Communication
Materiality Assessment Stakeholder 3-1; 3-2; 3-3
Communication
Compliance & Governance: Committed to Stable Development
Corporate Governance 2-9; 2-12; 2-13; 2-27
89 Corporate Risk Management
& Control
Adherence to Business Ethics Anti-Commercial Bribery KPI-B7.1; KPI-B7.2; 2-27; 205-2; 418-1
and Anti-Corruption; Anti- KPI-B7.3
Unfair Competition
Responsible Marketing 2-27; 417-1
Practice
Strengthening Party Building
Leadership
Green Environmental Protection: Co-creating a Low-Carbon Future
Addressing Climate Change Addressing Climate Part D: Climate-Related 201-2; 305-1; 305-2; 305-3;
Change Disclosures 305-4
Promoting Green Operations 2-27
Advancing Energy Pollutant Emissions; KPI-A1.1; KPI-A1.3; 302-1; 302-3; 302-4; 303-2;
Conservation & Emission Waste Management; KPI-A1.4; KPI-A2.1; 303-3; 303-4; 303-5; 305-7;
Reduction Energy Utilization; Water KPI-A2.2; KPI- A2.4 306-2; 306-3
Resource Utilization;
Circular Economy
Biodiversity Conservation Ecosystem and KPI-A3.1 303-3
Biodiversity Conservation
Environmental Awareness Circular Economy
Promotion & Training
2025 CSR ReportEnvironmental Social
and Governance
Title SZSE: the Guidelines Reporting Code GRI SDGs
Innovation-Led: Focusing on Customer Experience
Accelerating Innovation-Led Innovation-Driven
Growth
Protection of Intellectual KPI-B6.3 2-23; 2-24; 2-27; 417-1
Property Rights
Standardized Quality Product and Service KPI-B6.1; KPI-B6.2; 2-27
Management Safety and Quality KPI-B6.3; KPI-B6.4
Optimizing Customer KPI-B6.2 418-1
Experience
Safeguarding Information Data Security and KPI-B6.5
Security Customer Privacy
Protection
Shared Responsibility and Governance: Driving Synergistic Progress
Partner Management Supply Chain Security; KPI-B5.2; KPI-B5.3; 2-6; 2-8; 2-27; 308-1; 408-
Due Diligence KPI-B5.4 1; 409-1; 414-1
Industry-University-Research
Integration
Uniting: Cultivating Joyoung Talents
Protecting Employee Rights Employees KPI-B1.1; KPI-B1.2; 2-7; 2-19; 2-27; 201-3; 90
& Interests KPI-B4.1; KPI-B4.2 401-1; 401-2; 401-3; 405-1
Supporting Employee Employees KPI-B3.1; KPI-B3.2 2-7; 404-1; 404-2
Development
Protecting Employee Health Employees KPI-B2.1; KPI-B2.2; 2-7; 403-1; 403-2; 403-3;
KPI-B2.3 403-5; 403-6; 403-7; 403-8;
403-9;403-10;406-1
Caring for Employees Employees 2-7; 401-2
Working Together: Building a Better Society
Joyoung Charity Social Contribution; Rural KPI-B8.1; KPI-B8.2 203-1; 203-2
Revitalization
2025 CSR ReportFeedback Form for Reader
Dear Readers
Hello!
Thank you for taking the time to read the 2025 Environmental Social and Governance Report of Joyoung Co. Ltd. To
provide more valuable information to you and other stakeholders and effectively enhance the Company’s ability and level
in fulfilling its environmental social and governance (ESG) responsibilities we sincerely look forward to your opinions and
suggestions.Multiple Choice Questions (Please mark your answers with ? in the corresponding boxes)
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91
2025 CSR Report5. How do you think Joyoung Co. Ltd. performs in safety management
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10. Open-Ended Question
Do you have any comments or suggestions regarding Joyoung Co. Ltd.’s fulfillment of environmental social and governance (ESG)
responsibilities and this report
92
2025 CSR Report
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