2024

Sustainable Development

Report & ESG Report

Address: No. 336 Songling Road Laoshan District Qingdao City Shandong Province.Tel.: 0532-80938126

Email: ir@tgood.cn

Website: http://www.tgood.cnContents

Topic IIAbout This Report 03 Connecting the Smart World — Accelerating Innovation Leading the Way: “One Step Exceptional Governance Innovating a NewGlobal Expansion and Supporting the Energy Ahead Leading All the Way”

73 Model of Non-Public Sector Party Building 143

Transition 31

Innovation Leading Industrial Development 75 Party Building Driving Development 145

R&D Innovation Management System 77 Corporate Governance Compliance 149

Comprehensive Power Solutions Propel Global

Energy Transformation 31 R&D Innovative Strategic Goals 84 Strengthening Risk Control 152

Message from the 05 Fuel the Global Electrification Acceleration with R&D Innovative Achievements 85 Enhancing Investor Relations Management 155

Chairman Leading Charging Network Ecosystem 33 Practicing Business Ethics 157

Advancing Digital Transformation 161

About TGOOD 08

Implementing ESG Philosophies and Building Customer Orientation: Delivering Exquisite

a New Harmonious Ecosystem 37 Products and Exceptional Services 91 Future Outlook 165

Company Profile 08

Performance in 2024 09 Sustainable Development Goals 39 Strict Control of Product Quality 93

Corporate Culture 11 Sustainable Development Management 40 Optimizing After-Sales Service 99 Annex 167

Milestones in 2024 13 Communications with Stakeholders 42 Responsible Supply Chain 103

Management of Material Topics 43 Protection of Information Security 110 Index 167

Feedback 169

Topic I

Wisdom-Powered Green Motion: Driving

Innovation in the New Power System Green Pioneers: Eliminating Exhaust and Co-creating and Sharing: Building a Community

Leading the New Forms of Energy Smog for a Healthier Future 45 of Mutual Benefits and Shared Future 45

Transformation 15

Response to Climate Change 47 Employee Care and Benefits 117

Smart Manufacturing + Integrated Enhancing Environmental Management 55 Employee Recruitment and Interests 121

Services: Empowering New Power System

Construction with Innovative Technology 15 Efficient Utilization of Resources 71 Employee Training and Development 128

Electric Vehicle Charging Network: Building a Occupational Health and Safety 132

New Ecosystem for the Dual Integration of

New Energy and New Transportation 21

01 02Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

About This Report

Introduction Data Sources

This is the first Sustainable Development Report & ESG Report (hereinafter referred to as “the Report”) issued by Qingdao TGOOD All data sources used in this report include the Company’s actual operational data annual financial data internal statistical reports

Electric Co. Ltd.(hereinafter referred to as “TGOOD” or “the Company”) aiming at providing stakeholders with a detailed disclosure third-party questionnaire surveys third-party interviews public data etc. Unless otherwise specified the monetary amounts in this

of the Company’s ESG performance in 2024 and responding to ESG topics of critical concern to stakeholders. report are expressed in CNY. For any discrepancy between this report and the Annual Report the Annual Report shall prevail.Reporting Period

Appellation Description

This report covers the period from January 1 2024 to December 31 2024. To improve the comparability and perspectiveness

some sections of this report may extend appropriately to previous and subsequent years.For the ease of expression and readability the following terms are used in this report:

Company Name Abbreviation

Reporting Scope

Qingdao TGOOD Electric Co. Ltd. TGOOD the Company or We

This report focuses on Qingdao TGOOD Electric Co. Ltd. including its branches and subsidiaries. Unless otherwise specified the

scope of this report is consistent with that of the Company’s Annual Report. TELD New Energy Co. Ltd. TELD

Qingdao TGOOD High-Voltage Equipment Co. Ltd. TGOOD HV

Preparation Basis Chuan Kai Electric Co. Ltd. Chuan Kai Electric

*Shenzhen Stock Exchange Self-Regulatory Guidelines No. 17 for Companies Listed on Shenzhen Stock Exchange - Sustainability Yichang TGOOD Electric Co. Ltd. Yichang TGOOD

Report (For Trial Implementation)

*Shenzhen Stock Exchange Self-Regulatory Guidelines No. 3 for GEM Listed Companies—Preparation of Sustainable Development Leshan Yilade Electric Grid Automation Co. Ltd. Yilade

Report

*Corporate Sustainability Disclosure Standards—Basic Standards (for Trial Implementation) Tavrida Electric (Qingdao) Co. Ltd. TEQ

*Sustainability Reporting Standards of the Global Reporting Initiative (“GRI Standards 2021”)

*Guidelines for China’s Enterprise Sustainable Development Reports (CASS-ESG 6.0) issued by the China Research Institute of

*Business Reform and Development

National Standardization Administration of the People’s Republic of China (CNSA) Guidelines for Preparing Social Responsibility

*Reports (GB/T 36000-2015) Access to this Report

Task Force on Climate-related Financial Disclosures (TCFD) Framework

*UN Sustainable Development Goals (SDGs) 2030

*Sustainability Accounting Standards Board (SASB) Standards The electronic version of this report is available for download at the websites of the Company (www.tgood.cn) or the Shenzhen

Stock Exchange (http://www.szse.cn) where you can find further insights about the Company.

03 04Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

renewable energy. This new power system closely

integrates two key industries—new energy generation and industry and leading the global development of the new solutions for international markets and established key

Message from new energy vehicles—accelerating the realization of energy vehicle charging sector. business regions in the Russian-speaking zone Asia-Pacific China’s carbon neutrality targets. TGOOD with its focus on and Europe. Its partnerships extend to over ten countries and Party-Enterprise Integration: The Red Engine Drives Green

“smart manufacturing + integrated services” for intelligent regions such as Russia Australia Kazakhstan and Uzbekistan Innovation

the Chairman box-type power equipment and its electric vehicle charging

offering comprehensive solutions that encompass professional

network business is playing a pivotal role in empowering For over two decades TGOOD has remained steadfast in the platforms equipment operations and maintenance. Through

the development of China’s new power system offering core principle of “Party building leads enterprise development” innovation in products and collaboration models TELD is

critical support for achieving carbon neutrality. seamlessly embedding Party organization construction into the boosting global electrification.Company’s entire governance process. The Company’s Party

Innovation is deeply embedded in TGOOD’s core DNA Guided by the national strategy to build new power Committee has viewed Party-building as a strong driver for

serving as the inexhaustible driving force that leads our systems Chinese private enterprises like TGOOD are Dear shareholders customers partners and friends from all enhancing the enterprise’s core competitiveness. Over time

walks of life: growth. We steadfastly adhere to the innovative concept of

injecting substantial momentum into the green and

TGOOD has developed an ecological Party-building system

“one step ahead leading at every step” continually low-carbon energy transition with their technological centered on values such as the “community with a sharedIt is a great honor to present to you the 2024 Sustainable overcoming technological bottlenecks and driving industry innovations. Standing at the crucial milestone of its 20th future altruistic philosophy and the happiness of PartyDevelopment Report & ESG Report of Qingdao TGOOD Electric development. Since its inception TGOOD has focused on anniversary TGOOD has officially embarked on its third members” ensuring that Party work and corporate

Co. Ltd. This is not only the Company’s first publicly released the research development and manufacturing of outdoor phase of entrepreneurship. The goal is to lead through development are coordinated. TGOOD has been recognized as

ESG Report but also a response to all friends who care about box-type electrical equipment establishing the largest innovation and the energy revolution and build a digital an Advanced Grassroots Party Organization in Shandong

the development of TGOOD. As an innovation-driven enterprise research and production base for transformer substations energy group. Looking ahead we will insist on independent Province and as a Model for Party-building work in “Two New”

TGOOD prioritizes building a new power system support in China. We have pioneered several “firsts” in China’s innovation consistently upgrade the smart manufacturing organizations at the provincial level. It is also the only non-public

framework and serving the carbon peak and carbon neutrality. substation products including the first set of 10 kV mobile of electrical equipment and the charging ecosystem and enterprise selected for the Tsinghua University case database

In line with the convergence trend of the energy and digital transformer substations for high-speed railways the first accelerate our efforts to seize key positions in the new with Party-building as the theme.revolutions the Company proactively plans and implements set of 35 kV skid-mounted mobile substations the first set energy sector thus offering systematic solutions for newdistinctive responsibility practices. On the journey of of 110 kV prefabricated cabin-type modular substations TGOOD has constantly upheld the philosophy that “Party power systems and paving a green development path withconstructing a new power system centered on renewable the first set of 220 kV prefabricated cabin-type offshore members are talents”. Since its establishment 20 years ago the unique characteristics of TGOOD.energy TGOOD is dedicated to fulfilling its role as a Chinese booster substations and the first set of 330 kV it has adhered to the “three priorities” principle: prioritizing

enterprise to respond to the call of the era. prefabricated cabin-type booster substations… These Party members in recruitment in cadre selection and in

overcoming challenges. This approach has cultivated a highly

The year 2024 is a year of milestone significance in the innovations have not only filled gaps in domestic product

development process of TGOOD. At the pivotal moment of our offerings but also advanced China’s power equipment

cohesive strong high-caliber high-performance and

industry as a whole. responsible Party member team known for its “wolf spirit” 20th anniversary I often recall my commitment made in 2009 which has played a key role in the Company’s growth. Todaywhen representing 28 listed companies at the launch of the In the historic intersection of the two major sectors—“new a significant majority of TGOOD’s core team members areChiNext Market: “As the first stock on the ChiNext Market we energy generation + new energy vehicles”—TGOOD made Party members with almost no turnover rate for key talents.must uphold the flag of the ChiNext Market”. This phrase has a forward-looking layout in 2014 by venturing into the

become the essence of our mission and the guiding principle for electric vehicle charging industry marking the beginning of Global Vision: Making the Chinese Solution the Universal

my team and me since then. Before listing we strive for personal its second entrepreneurial phase with the establishment of Language for Zero-Carbon Transition

and enterprise growth; after listing with the accumulation of TELD. TELD pioneered a charging network technology In its global expansion TGOOD has implemented a “dual-drive”

wealth and personal value it becomes essential to give back to system across the globe strategically focusing on the strategy of “technology export + standards leadership” bringing

society contributing meaningfully to the nation and future efficient use of electrical resources to support the Chinese innovation to the world stage. Capitalizing on the

generations. Over the past 20 years TGOOD has evolved from large-scale development of electric vehicles. By harnessing national “Belt and Road” initiative the Company has spent over

a startup to an industry leader thanks to the tireless efforts and the electric vehicles’ functions as mobile energy storage to a decade executing international strategies and has promoted

selfless dedication of every TGOOD employee as well as the support new energy development TELD constructed a its self-developed power equipment systems to 56 countries

strong support from all sectors of society. deeply integrated “new industrial internet” combining and regions. TGOOD has also established robust strategic

Second Entrepreneurship: Deep Integration of the Energy charging networks microgrids energy storage networks partnerships with global energy leaders including General

Revolution and Industrial Transformation and data networks. This innovation has significantly Electric Siemens ABB and Schneider showcasing its

enhanced the distribution grid capacity and the green technological prowess and brand influence internationally. With

In the context of carbon neutrality the government has set a electricity consumption addressing the energy bottleneck its expertise in charging technology products platforms and

new strategic goal to build a power system centered on for the scaled development of China’s electric vehicle services TELD has tailored specialized product systems and

Chairman of TGOOD

05 06Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

About TGOOD

Company Profile

TGOOD is primarily engaged in two main sectors: “Smart Manufacturing + Integrated Services”

focusing on intelligent prefabricated power equipment and the electric vehicle charging networkbusiness. Both sectors are important strategic emerging industries under the national “14th Five-YearPlan” playing a significant role in promoting the construction of a new power system based on new

energy and achieving carbon neutrality goals in China.As China's leading outdoor integrated power equipment solutions provider TGOOD has held the top

market share in the Chinese railway market and maintained a leading position in local power markets

with its mid-to-high-end prefabricated power equipment products. At the same time TGOOD’s

modular prefabricated substation products and renewable Kiosk substation hold the industry’s leading

market share in the new energy generation sector.In the field of electric vehicle charging networks TGOOD has developed into the largest electric

vehicle charging network operator in China ranking first nationwide in the number of public charging

terminals operated charging volume and registered user count. In addition TGOOD is focused on a

technology roadmap that integrates charging networks microgrids and energy storage systems. It

continues to drive innovation in V2G virtual power plants megawatt-level charging and autonomous

charging technologies gaining profits through energy management big data value-added services

and ecosystem optimization.

07 08Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Performance in 2024

Economic Performance Environmental Performance

Operating Income YoY Growth Net Profit Attributable to Shareholders YoY Growth Environmental Investment GHG Emission Intensity

21.15% of the Listed Company 86.62%

1537448 10000 CNY 91656 10000 CNY 1518 10000 CNY 0.018 tons / 10000 CNY of revenue

Total Assets YoY Growth Net Asset Attributable to Shareholders YoY Growth PV Generation Green Electricity Trading Volume

4.76% of the Listed Company 11.74%

2501340 10000 CNY 747454 10000 CNY 298.77 10000 kWh 680.37 10000 kWh

R&D Performance Social Performance

Investment in R&D YoY Growth Number of R&D Personnel Percentage of Female Employees Total Hours of Employee Training

17.42%

57459 10000 CNY 1219 Person 24.92 % 470149 Hour

Percentage of R&D Personnel Total Number of Patents Granted Total Investment in Safety Production Occupational Health Checkup Coverage Rate

12.66 % 1687 Item 1614 10000 CNY 100 %

09 10Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Corporate Culture

Consolidating the world’s largest brand of box-type power equipment. Team Culture

Goals Three Building a trusted government and customer ecosystem operator for the largest and strongest Cultural

charging network in China. Systems Team Objectives: Build a cohesive capable high-quality and high-performance team with a

Creating a digital energy management company centered on new energy. strong sense of responsibility and a “wolf-like” spirit.Team Principles: The team not the leader steers the enterprise working in unison without

fatigue trusting one another implicitly.Team Standards: Stay loyal brave responsible and principled.Team Spirit: Extraordinary resilience and readiness complementary and mutual achievements.Innovative Culture

Innovative Concept: We create what the market will need through innovation not merely by

responding to current demands.Adhere to a customer-centric approach and provide refined products and high-quality services.Innovative Objectives: Establish a forward-looking team and leading strategic system to forge

Values Focus on value creation and turn our shared ideals into reality. core competencies and guide the industry to new heights.Innovation Cognition: Innovation means seeing the essence and spotting what others cannot.R&D means paving a new path and thinking about what others haven’t

imagined.Technology means breaking boundaries and doing what others cannot

achieve.Share Culture

Profit Sharing Objective: Build a community of shared interests and common destinies enabling

Team Cohesion: The team not the leader steers the enterprise ensuring that strategies and individual value creation.Three major decisions are correct.Pillars Profit Sharing Principle: Share profits in both large platforms and small organizations; Focus on

Innovation Leadership: Leverage the team’s foresight and future-focused approach to stay increasing profits before sharing; and only share what is valuable.ahead at every stage.Profit Sharing Format: Create vitality and wealth with business partnerships and profit sharing.Profit Sharing: Emphasize the importance of profit sharing for value creators fostering a

community of shared interests and common destinies. Enjoy a warm working atmosphere and a happy life in TELD.

11 12Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Milestones in 2024TGOOD Holds the 2024 Party Building Work TGOOD Awarded “Single Champion TGOOD Unveils the First “Red Pulse Production TGOOD’s Project Wins National QualityConference and the 2023 Party Building Manufacturing Enterprise” in China Line for New Energy Transformer Substations” Engineering Gold Award

Commendation Meeting in ChinaOn February 23 2024 TGOOD Group successfully On April 9 2024 TGOOD was recognized with On September 30 2024 TGOOD launched the “Red On December 16 2024 the “Zhangjiakou-Beijinghosted the 2024 Party Building Work Conference the prestigious title of “Single Champion Pulse Production Line for New Energy Transformer Renewable Energy Comprehensive Applicationand the 2023 Party Building Commendation Manufacturing Enterprise” in China. This honor Substations” a groundbreaking initiative that Demonstration Project” and the “Huaneng JilvMeeting. The event provided a comprehensive represents the pinnacle of excellence in the symbolizes the integration of party and business Daan 500 MW Wind Power Project” both

review and recognition of the significant global manufacturing sub-sector and values. This new production line has revolutionized participated by TGOOD won the prestigious

achievements in Party building throughout 2023. underscores the Company’s leadership in the assembly process improving production “National Quality Engineering Gold Award” andOutstanding Party branch secretaries exemplary advancing the manufacturing industry. efficiency by over 50% and representing a key “2023 China Electric Power Quality EngineeringParty branches and exceptional Communist Party milestone in driving deeper industry development. Award”. These honors mark the first time a

members were honored. Additionally a ceremony prefabricated cabin-type station construction

for the transfer of reserve party members was project in the industry has received such

held further strengthening the development of the accolades.Party team.TGOOD Celebrates its 20th Anniversary and TELD’s Cumulative Charging Volume Hits 30 TELD Makes an Appearance at “Belt and Road” TELD Recognized for IoT DevelopmentEmbarks on Its Third Entrepreneurial Journey Billion kWh Energy Ministers’ Conference Example by MIIT and “People’s CraftsmanshipTechnology” Case by People’s Daily

On March 16 2024 TGOOD Group proudly On May 7 2024 TELD’s platform reached a On October 24 2024 the Third “Belt and Road” In December 2024 TELD with its technical

launched its global 20th-anniversary celebration cumulative charging volume of 30 billion kWh Energy Ministers’ Conference took place in Qingdao. excellence in charging networks microgrids and

themed “Special Love for a Special You” featured setting a new record for domestic charging As a company for the conference’s technical tour energy storage networks was selected as a typical

by co-establishment base cooperation and model operators and marking a significant milestone in TELD presented its latest advancements in new energy case in the development of the Internet of Things

innovation. At the time of celebrating its 20th the advancement of the new energy industry. vehicle charging technology to energy ministers (IoT) industry by the Ministry of Industry and

anniversary the Company also committed its grand diplomats and senior representatives from 27 Information Technology. It was also recognized as

mission of “Creating a cleaner city by integrating countries as well as leaders from four international a “People’s Craftsmanship Technology” case by

rapid three-dimensional parking into zero-carbon organizations and delegates from businesses research People’s Daily. In addition it was honored as adigital buildings”. This also marks a new chapter of institutions and universities at home and abroad. The national “little giant” specialized and sophisticated

our third phase of entrepreneurship. Company showcased its innovative technologies and enterprise and ranked among the top 500 global

practices aimed at driving energy transition and new energy companies.promoting green development.

13 14Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Wisdom-Powered Green Motion:

Driving Innovation in the New

Power System Leading the New

Case Study

Forms of Energy Transformation Datang 400 MW Wind Power Project in Wuliji Alashan League

The Datang 400 MW Wind Power Project in Wuliji Alashan League adopts a prefabricated substation layout scheme

that enables the prefabrication of large GIS equipment and meets the necessary of internal space requirements for

O&M as well as overhead clearance. The prefabricated substation’s protective performance and thermal insulation

capabilities effectively resist wind--sand erosion and extreme diurnal temperature fluctuations thereby ensuring the

stable operation of the equipment.Once put into operation the project will generate 1 billion kWh of clean energy annually saving 312000 tons of

Under the wave of energy transformation led by the “Dual Carbon” strategy the construction of a new power system standard coal and reducing carbon dioxide emissions by 829000 tons which contributes positively to the optimization

dominated on renewable energy is advancing at an accelerated pace. TGOOD’s two core businesses are fully aligned of the energy structure and the ecological environment of the Alashan region.with the national strategic framework making dual efforts to empower the development of a new power system. In

the “Smart Manufacturing + System Integration” sector the Company integrates green development principles with

cutting-edge technology and through continuous technological breakthroughs and innovative models provides

robust support for the construction of next-generation power infrastructure with industry-leading high-end power

equipment. The Company has pioneered an EV charging network technology system in its industry and successfully

created a new industrial ecosystem that enables two-way integration of new energy and smart transportation. This

provides a demonstrative solution for promoting energy transition and the development of green transportation.Smart Manufacturing Empowering New Power System

+ Integrated Construction Case StudyHuaneng’s 1 Million kW Wind Power Gathering Station Project in Turpan

Services with Innovative Technology

The Huaneng’s 1GW Wind Power Collection Substation Project in Turpan takes full advantage of local solar thermal

resources and wind speed conditions deploying TGOOD’s prefabricated substation which are designed with

Power Generation Side IP55-certified protection and sand-resistant ventilation systems and deploys 131 wind turbines each with a capacity of

7 megawatts or more along with a large-capacity energy storage system to handle the challenging wind and sand

conditions. The prefabricated substation enclosure utilize non-metallic panels combined with an air-gap thermal barrier

Leveraging its leading advantages in technology products and services and closely integrating the characteristics and needs of panel technology preventing heat conduction and creating an optimal operating environment for the equipment.new energy power stations the Company has innovatively developed new energy prefabricated substations and a new generation

digitalized high-voltage modular prefabricated substations integrated solutions which have significantly enhanced the construction

Upon full commissioning the project will deliver 2.2

efficiency of renewable energy power stations.billion kWh of annual electricity generation meeting

The voltage level of the Company’s renewable Kiosk substation ranges from 10 kV to 66 kV primarily including LV switchgear the electricity needs of 700000 households while

transformers and HV switchgear. Designed for harsh environments these units withstand high temperatures salt spray corrosion saving 710000 tons of standard coal and reducing

and wind-sand exposure while delivering exceptional electrical performance excellent environmental compatibility and enhanced CO2 emissions by 1.91 million tons alongside

corrosion resistance. creating 5600 hectares thereby ensuring the local

energy supply and promoting green low-carbon

The Company's next-generation high-voltage digital fully prefabricated modular substation integrated solution significantly

development.enhances the construction efficiency of renewable energy power stations through comprehensive prefabrication of

primary/secondary equipment and civil engineering. By innovatively applying digital management and intelligent O&M

technologies it provides reliable and cost-effective lifecycle support for renewable energy power plants.

1516

Topic IQingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Power Grid Side

Case Study

Urban Village Distribution Grid Modernization in Shenzhen

TGOOD’s core products include Prefabricated Substation Transformers and Switchgear which are widely applied in the

construction of main distribution networks. In addition the Company keeps pace with the ongoing grid upgrades focusing on key

business scenarios such as “construction of new substations” “Legacy Substation Modernization and Retrofit” “Grid-edge In collaboration with the Shenzhen Power Supply Bureau and three major design institutes TGOOD co-developed alow-voltage regulation” and the “digital transformation of distribution networks”. Innovative solutions such as Prefabricated Prefabricated Landscape Distribution Substation for urban village grid modernization in Shenzhen. This initiative

Substations Prefabricated Distribution Kiosk and Mobile Substations have been launched. TGOOD has demonstrated significant modular solution features customizable exteriors that adapt to surrounding environments ensuring environmental

advantages in shorter construction periods reduced land occupancy lower investment costs flexible layouts and environmental friendliness and reducing the “not in my backyard” effect. With shorter delivery time and compact footprint this solution

friendliness. These solutions have been successfully implemented in provincial grid systems in regions including Shaanxi is ideally suited for urban village scenarios providing a new approach for upgrading urban power grids in megacities

Shandong Henan Jiangsu Ningxia Guangdong Yunnan and Guangxi. and megalopolis.Expansion Project of the 110 kV Zhongxin Substation of Zhejiang Hangzhou Power Supply Case Study

Company of State Grid

The 110kV Zhongxin Substation had operated at full capacity. To ensure a reliable power supply an expansion was

required to meet the growing electricity demand in the surrounding areas. The project adopted a prefabricated

substation solution addressing space limitations and construction challenges. Additionally it features a Huizhou-style

prefabricated Substation design that seamlessly integrates the substation into its surroundings.Case Study

Mobile Substation Project in Xiong'an New Area

In 2017 the Central Committee of the Communist Party of China and the State Council approved the establishment of

Xiong'an New Area. The development of the new area is driven by a long-term vision with a focus on high standards

and large-scale progress. To meet the urgent power needs of key districts such as Rongdong and Rongxi it was

essential to deploy highly reliable temporary power infrastructure quickly. Since 2019 TGOOD has provided a total of

12 mobile substations (5 sets of 110kV and 7 sets of 35kV) to the Xiong'an New Area. These substations were

strategically positioned at the heart of the construction zones acting as primary power sources for large-scale

development projects. Their efficient operation played a critical role in supporting the area's power supply during the

early stages of its extensive development.

17 18Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

User Side Case Study

Miaotan North Substation Project in Alibaba Zhangbei Cloud Computing Center

With China's ongoing economic transformation and industrial upgrading the rapid development of sectors like rail transit and data

centers has created stringent new requirements for energy supply and power equipment. TGOOD offers customized and

comprehensive power system solutions tailored to the specific needs of different industries meeting diverse customer needs.The project faced a tight construction

For the railway sector TGOOD has specially designed a Railway remote control compact substation with intelligent visual schedule. To ensure that the data center

inspection system for rail power supply applications. This system uses sensors image recognition communication and data can be put into operation as scheduled

analysis to monitor operational status in real-time of the compact substation and find potential faults and hidden risks in time TGOOD customized a modular prefabricated

providing support for safe and stable railway operations. In addition our prefabricated modular substations and switchgear substation solution for the customer. The

products are also widely used in several subway projects in cities such as Qingdao and Changchun. rapid construction and efficient service have

The Company offers a wide and comprehensive range of products for the data center industry. In addition to High and Low-voltage garnered high praise from the customer

Switchgear TGOOD has launched a 110kV Prefabricated Substation to address the power supply and distribution needs of data offering a new and reliable solution for data

centers and smart prefabricated power modules designed for intelligent power distribution in server rooms. These products are center power requirements.recognized for their efficiency reliability and intelligence winning recognition from the market and ensuring the stable operation

of data centers.Case Study

Qingdao Metro Line 6 Project Case Study

Temporary Substation Project for Rongtong High-tech Battery Materials

The Qingdao Metro Line 6 is China’s first Train Autonomous Operation System (TACS) demonstration project with a The Rongtong High-tech Battery Materials project recognized as the largest investment attraction initiative in

total length of 30.8 km traversing key areas such as the Lingshan Bay Cultural Zone Qingdao Economic and Mianyang Sichuan for 2022-2023 required the construction of a dedicated 220kV substation to meet the power

Technological Development Zone and the International Economic Cooperation Zone. TGOOD provided a 110 kV demand for production. However the substation’s construction progress lagged behind the factory’s planned

prefabricated modular substation and switchgear solutions to help address the customer’s tight project timeline and production schedule putting the company at risk of delayed operations. To address this challenge the company

high power demands while ensuring a stable power supply to the metro’s main line. procured two 110kV mobile substations from TGOOD and connected them to a 110kV temporary power supply line. This

strategic solution effectively resolved the power supply bottleneck ensuring that the factory’s operations proceeded as

planned and stabilizing the production.

19 20Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Electric Vehicle Building a New Ecosystem for the Dual

Charging Integration of New Energy and New

Network Transportation Promoting the “Five Charging Networks” Layout Based on Local Conditions to

Provide Safe and Convenient Charging Services for Electric Vehicle Owners

Convenient Services: Creating an All-Scenario Smart Charging Network

The Company continues to advance the development of bus public logistics park and community charging networks tailored to

to Ensure Hassle-Free Travel for EV Owners the specific characteristics of different charging scenarios and user needs. In alignment with the EV stock and development plans

of various cities the Company promotes the layout of the “Five Charging Networks” based on local conditions providing electric

vehicle owners with safe and convenient charging solutions.Establishing the Largest Nationwide Charging Network to Support the

Large-Scale Growth of New Energy Vehicles

Bus Charging Network

The Company has consistently focused on technological innovation in the EV charging sector independently mastered key core

technologies for charging networks covering every aspect of the electric vehicle charging industry chain. The Company has

successfully overcome the bottlenecks of charging technologies about the large-scale development of electric vehicles in China.This has significantly enhanced the distribution network’s capacity and its green energy consumption. In addition to driving Case Study

technological advancements in the charging industry TELD aligns with national strategies for new energy development offering Chengdu Bus Jiulidi Charging Station

vital technical support for the transition to carbon neutrality in the transportation sector.As of the end of 2024 the Company’s charging network has established strategic points in over 360 cities and regions across the

The Chengdu Bus Jiulidi Charging Station employs group management and control technology making full use of the

country with more than 709000 charging terminals in operation and under management. By building a large-scale intelligent

function about power sharing and flexible allocation. This enables high-power fast charging and intelligent scheduling

charging service network the Company continues to drive the transition from traditional fuel-powered vehicles to new energy

for buses. By the end of 2024 the total power capacity of the Chengdu Bus Jiulidi Charging Station had reached 10800

vehicles. In 2024 the Company’s platform achieved an annual charging volume of 13 billion kWh which reduced carbon emissions

kW with 94 DC charging terminals and 24 smart flexible charging bows. These facilities are designed to meet the

by approximately 13.74 million tons compared to equivalent fuel-based travel.demand for high-power automatic charging during bus intervals. To improve the utilization efficiency of the charging

equipment the station can also open its facilities to other social vehicles during bus downtime thus providing charging

services to the public while meeting the needs of the buses.Forward-Looking Strategy in High-Power Charging Technology: Building the

Most Extensive High-Power Supercharging Network

As electric vehicle battery technology and charging speeds continue to advance the Company constantly enhances its innovation

and R&D efforts in high-power charging technology to meet the growing demand for high-power charging across different

scenarios positioning itself as a leader in the development of high-power charging solutions. Currently TELD has deployed

approximately 6000 charging stations nationwide equipped with megawatt-level power pools. In 2014 the Company had

pioneered the industry’s first intelligent group charging product utilizing standard modular multi-level parallel technology to

support the ongoing expansion of power pools. It now can achieve a megawatt-level power pool capable of reaching up to 4000

kW effectively addressing the rapid rise in demand for high-power charging. The Company’s self-developed liquid-cooled terminal

can deliver up to 1000 kW of megawatt-level charging power for passenger vehicles enabling a rapid charge of up to 80 kWh in

just 5 minutes. For buses and logistics vehicles the Company has innovated flexible charging solutions such as the intelligent

flexible charging bow for buses and the intelligent flexible charging robot for commercial vehicles capable of delivering

megawatt-level power up to 1000 kW and 1600 kW respectively.

21 22Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Public Charging Network Park Charging Network

Case Study Case Study

Sanya Rongxing Building Materials Mall Charging Station Smart Microgrid Charging Station of Shanghai SAIC Anting Base

The Sanya Rongxing Building Materials Mall Charging Station adopts a combination of fast charging and ultra-fast The Smart Microgrid Charging Station of Shanghai SAIC Anting Base integrates distributed photovoltaic cascade

charging with a total power capacity of 960 kW. It is equipped with 14 DC fast charging terminals and 2 liquid-cooled battery energy storage and electric vehicle charging and discharging elements. It supports off-peak charging and peak

ultra-fast charging terminals capable of serving various vehicles including ride-hailing cars taxis and private cars. discharging pioneering energy trading scenarios for electric vehicle owners. The station enables the integration of

Through intelligent scheduling technology it can flexibly match the power requirements of different vehicles and retired battery packs into the charging station utilizing the canopy and rooftop space for distributed photovoltaic

optimize the charging time for various types of vehicles maximizing the use of limited social resources while serving access and consumption creating a low-carbon travel scenario for new energy vehicles. Additionally the station is

more electric vehicles. connected to the TELD’s cloud platform energy management system which uses forecasting and optimization

techniques to develop strategies for electric vehicle charging and discharging photovoltaic generation and energy

storage effectively reducing the overall energy cost of the park.Logistics Charging Network Community Charging Network

Case Study Case Study

Qinzhou Port Automated Charging Project of Guangxi Beibu Gulf Group Chengdu Longxiang Jiayuan Phase I Community Charging Station

The Qinzhou Port Automated Charging Project of Guangxi Beibu Gulf Group is divided into two phases. The first phase The Chengdu Longxiang Jiayuan Phase I Community Charging Station adopts a combination of low-power DC and AC

is equipped with 6 intelligent flexible charging robots having an installed power capacity of 2400 kW. The second configurations covering 14 public charging parking spaces within the community including 8 DC charging spots and 6

phase is equipped with 10 intelligent flexible charging robots having an installed power capacity of 4000 kW. This AC charging spots available for shared use by the residents. After work residents connect their electric vehicles to the

system enables automatic rapid recharging during vehicle downtime. The station is primarily designed for automatically charging terminals which are managed by a charging platform that performs intelligent scheduling. The platform

charging IGV vehicles that operate at the port. The vehicles and charging equipment are managed by an intelligent prioritizes charging during off-peak nighttime hours to minimize the impact on the community’s power load.scheduling system for fully unmanned operation in a closed environment. Additionally TELD’s two-layer safety protection system monitors the charging process in real time providing residents

with safe and secure charging services.

23 24Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Green Development: Microgrid + Virtual Power Plant Supporting China's Dual

Carbon Strategy

Charging-Type Microgrid to Enhance Local Consumption of Renewable Energy Virtual Power Plants: Aggregating Distributed Loads for Participation in Power Market Trading

Leveraging the core advantages of the charging network the Company has innovatively launched a photovoltaic-storage-charging-integrated The Company’s Virtual Power Plant (VPP) operational platform is built around the core capabilities of aggregation regulation

microgrid technology that combines photovoltaic power generation cascade battery energy storage and electric vehicle charging/discharging trading and settlement. Based on key technologies such as load forecasting renewable energy forecasting market price

functions. This technology enables the local consumption of distributed energy and significantly enhances the ability to absorb renewable prediction and resource scheduling the platform integrates diverse resources including electric vehicle charging and discharging

energy. With the self-developed microgrid operation control and optimization scheduling technology TELD fully utilizes the adjustable distributed photovoltaics energy storage and conventional electricity loads enabling participation in power market trading and

attributes of electric vehicles to effectively address the disorder and fluctuations of renewable energy generation greatly improving the generating revenue. Since its engagement in North China Power Grid’s peak-shaving ancillary service market in 2019 the Company

absorption capacity of renewable energy. Furthermore this technology unlocks the potential value of electric vehicles as mobile energy has consistently advanced and expanded the application of VPP technology. The Company was one of the first VPP operators to

storage creating economic benefits from low-cost charging and high-price discharging. By the end of 2024 the Company had deployed over receive technical certification and grid connection approval for benchmark projects across China including in cities such as

800 new energy microgrid stations through investment and sales covering more than 140 cities. Shenzhen and Shanghai. In demonstration areas like Shandong and Jiangsu where VPPs have been integrated into real-time grid

scheduling the Company has showcased its significant technological innovations. In Shandong Province the Company’s trading

volume accounts for over one-third of the region’s total VPP transaction volume.By the end of 2024 the Company had achieved online information exchange with 38 power grid provincial and municipal

electricity control centers VPP management centers and load management centers. The number of dispatchable stations meeting

Case Study

VPP requirements had exceed 3400. In 2024 the Company has been actively expanding grid-interactive services including

Tianfu Software Park Photovoltaic-Storage-Charging Smart Microgrid Demonstration Project

peak-shaving ancillary services and demand-side response in regions such as Shanghai Shenzhen Jiangsu and Fujian. The total

scale of these services exceeded 3 million kWh with benefits approaching 10 million CNY. Additionally the Company participated

in electricity market trading with a total trading volume exceeding 1.4 billion kWh in 2024.This station is the first smart microgrid project in Western China integrating cadmium telluride photovoltaic power

generation cascade battery energy storage liquid-cooled ultra-fast charging fast charging slow charging and V2G

charging and discharging technologies. The project consists of two parts a public charging network and a park

microgrid. The station is equipped with a 52 kW cadmium telluride photovoltaic canopy a 150 kWh cascade energy

storage system and 56 charging terminals (including 2 liquid-cooled ultra-fast charging terminals 33 DC fast charging

terminals 4 V2G charging and discharging terminals 10 small DC charging terminals and 7 AC slow charging

terminals). Based on TELD’s new energy microgrid system this station integrates office electricity use photovoltaics

energy storage EV charging and discharging enabling photovoltaic-storage-charging integration. When the large

power grid is insufficient photovoltaics energy storage and electric vehicles can provide a reverse power supply to

the park’s office buildings realizing local consumption of distributed energy.

25 26Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Security Assurance: Disruptive Technological Innovation Safeguards Grid

and User Safety In the TELD’s two-layer security protection technology the first layer provides active protection for the Charging Management

System (CMS) which is set up with 12 safety protection and early warning models that conduct real-time monitoring and safety

assessments of the charging process. It extends the security protection of new energy vehicle from the BMS side in car to the

charging side outside the car enabling redundant protection of the vehicle’s Battery Management System (BMS) failures and

Grid Security: Cluster Management & Control and EV-Grid Integration Technology real-time protection of battery data during charging making vehicle safety on the charging side measurable and controllable. The

Safeguard Power Grid Security second layer is the big data protection layer which includes 24 safety protection and early warning models. It establishes a

comprehensive lifecycle database for vehicles/model types through big data allowing for fault tracing from the vehicle’s historical

database and providing differentiated warnings and protections for the charging process of different vehicle models in various

regions and seasons. In 2024 TELD introduced the industry’s first large-scale battery safety model. Built on the Transformer

The industry-first cluster management & control charging architecture this model utilizes vast amounts of charging big data to significantly enhance battery fault detection rates and achieve

system developed by TELD adopts a “dynamic power pool” a risk blockage rate exceeding 99.9%.architecture. It utilizes advanced technologies such as high

and low-voltage integration standard cabinet parallel

connection and modular power distribution to centrally

manage all power modules within the charging station Case Study

forming a shared power pool. Based on real-time electricity Application of Two-Layer Safety Protection Technology

price signals and grid load data it achieves millisecond-level

dynamic allocation of charging power through adaptive

algorithms. The system breaks through the traditional TELD has been offering safety monitoring and early warning services based on its two-layer protection technology for

independent control mode of single piles which allows for several years:

flexible adjustment of charging power according to

fluctuations in the capacity of the distribution network

For business customers including automotive companies bus operators and taxi services TELD provides monthly

effectively reducing the risk of transformer overload for

safety warning analysis reports or custom-developed safety warning SaaS platforms. For individual users TELD offers

better protection of the distribution network security.the Battery Guardian Detection Report which provides an accurate safety rating for vehicle batteries across various

dimensions. In 2024 the TELD platform issued a total of approximately 49 thousand warnings for high-risk vehicles and

users accessed the Battery Guardian Detection Report around 458 thousand times.User Safety: Two-Layer Security Protection Technology Protects Users and

Vehicle Safety

TELD has launched a two-layer security protection

technology of charging equipment and data platforms

innovatively applying the charging big data to the safety

assessment and early warning of power batteries. To

address the complex challenges of battery protection under

conditions such as battery aging charging and discharging

habits and environmental climate a multi-dimensional and

systematic dynamic charging and discharging safety

evaluation and protection model has been developed. This

achieves cloud-edge collaboration and dynamic safety

protection tailored to each vehicle effectively resolving the

safety issues associated with electric vehicle charging. In

2022 organized by the China Society of Automotive

Engineers TELD compiled the industry’s first Technical

Specification for Battery System Safety Risk Monitoring and

Fault Early Warning during the Electric Vehicle Charging

Process.

27 28Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Charging Station Safety: AI Box “Unmanned” Safety Guardian for Charging Stations Efficient Operations: Digitalization and Intelligence Reshape Industry Value

To address the industry’s challenge of lacking efficient human-monitoring alternatives at charging stations TELD has developed

the AI safety early warning device named AI Box based on AI recognition and safety protection technology. This product integrates Smart Operation Makes Charging Operation More Intelligent

a charging station-specific image recognition algorithm with standard surveillance cameras. Based on “big data + machine vision”

technology AI Box’s customized recognition model is tailored to charging scenarios enabling 24-hour intelligent monitoring of

safety risks such as electric vehicle self-ignition personnel falls children lingering smoke/fire hazards smoking and equipment

collisions. AI Box analyzes real-time images transmitted by network cameras instantly identifying dangerous behaviors and issuing To meet the changing demands of a vast number of users across the country TELD has developed an industry-leading smart

early warning notifications. This solution provides round-the-clock unmanned security adding an extra layer of intelligent safety operations management platform for its charging network. Powered by big data and AI algorithms this platform creates an

protection to station operations. all-scenario intelligent operational system that achieves smart management of charging services across processes. By utilizing a

big data-driven site selection model it guarantees “pre-investment success forecasting” enabling precise investment in charging

stations. Additionally the platform relies on a pricing analysis model to implement intelligent pricing strategies optimizing

operational efficiency. The smart scheduling system monitors equipment status in real time predicts charging peaks and

dynamically adjusts strategies significantly enhancing equipment utilization. Furthermore the platform utilizes user profiling to

Case Study offer personalized charging solutions such as off-peak electricity price notifications and nearby available station recommendations

Application of AI Box providing users with a more time-efficient hassle-free and cost-effective charging experience. This solution leads to the intelligent

upgrade of charging services in an all-around manner.Currently TELD has taken the lead in locally deploying the DeepSeek and Qwen large models seamlessly integrating them with

Sichuan Shudao New Energy Technology Development Co. Ltd. has deployed over 100 charging stations along its charging operations. This innovation has resulted in the creation of the industry’s first AI-powered charging operations system

highways all equipped with intelligent monitoring systems. To enhance safety management and operational efficiency establishing an intelligent AI operations support framework that enables more efficient and accurate management of charging

Shudao Energy Company implemented AI Box products across its highway charging stations. The productaccurately operations thereby enhancing the overall profitability of charging stations.detects various safety risks such as smoke open flames personnel falls charging gun misplacement and more

delivering real-time warnings. This has enabled 24/7 unmanned intelligent management significantly improving station

operation and maintenance efficiency. Given its exceptional security performance and management value the AI Box

product has become a standard configuration for Shudao Energy Company’s charging stations.Smart O&M Significantly Reduces Costs

To tackle the industry’s challenge of high O&M costs for large-scale charging equipment TELD has developed innovative smart

O&M technologies. Drawing on years of data and O&M experience from its charging network and based on a deep understanding

of charging equipment TELD has embedded numerous small smart sensors into the equipment design. Based on the

multi-dimensional and multi-type data collected by these sensors the intelligent O&M large model enables remote smart upgrades

control and configuration of charging network devices and core components real-time health monitoring and alerts hardware

failure predictions software self-repair and intelligent equipment inspections. This significantly improves the O&M efficiency of

charging equipment reducing O&M costs.

29 30Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Connecting the Smart World —

Accelerating Global Expansion and

Supporting the Energy Transition

In today’s world a new wave of technological revolution and industrial transformation is unfolding with green

low-carbon development digital intelligence and sustainability becoming the themes of the era. In response to global

development trends and the demands of the times TGOOD is translating its innovative practices into scalable global

energy transition solutions—from high-end power equipment to electric vehicle charging infrastructure. This not only

showcases the sense of responsibility of Chinese enterprises but also injects “Chinese wisdom” into the global energy

transformation achieving a profound unity between national pride and global value contribution.Comprehensive Power Solutions Propel Global

Energy Transformation

Capitalizing on the national “Belt and Road” initiative the Company has spent over a decade executing international strategies and

has promoted its self-developed power equipment systems to 56 countries and regions. The Company focuses on expanding its

presence in three key regional hubs: the Middle East and Africa Central Asia and Europe Southeast Asia and the Pacific. The goal

is to deeply explore industries such as new energy power grids non-ferrous metals oil and gas chemicals and data centers. By

capitalizing on TGOOD’s advanced capabilities in smart manufacturing and integrated innovation the Company is committed to

rapidly developing a localized marketing and service network covering international businesses thereby providing overseas

customers with comprehensive and high-quality services and guarantees throughout the entire lifecycle.TGOOD focuses on the characteristics of overseas markets and provides comprehensive one-stop digital power solutions for

international customers based on product and technology advantages. It has completed the R&D and certification of international

products such as 33 kV new energy box-type substations 33kV ring main units medium-voltage eco-friendly gas-insulated

switchgears overseas mobile trailer substations and overseas prefabricated cabin solutions laying a solid foundation for further

expansion of overseas business.

3132

Topic IIQingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Fuel the Global Electrification Acceleration with

Leading Charging Network Ecosystem Case Study

Meeting the Charging Needs of Overseas Customers in Harsh Environments

Relying on the Belt and Road policy TELD actively pursues a global layout establishing three major business regions: the

Russian-speaking Zone the Asia-Pacific Zone and the European Zone. It collaborates on technical services with over ten countries

and regions including Russia and Australia. By utilizing an industry-leading charging network technology system and architecture TELD provides the first set of European-standard group charging solutions for Russian customers. With strong weather

and combined with local advantages TELD provides comprehensive solutions encompassing platform equipment and O&M. resistance advantages the solutions meet local environmental requirements such as low temperatures and extreme

Through innovative product technologies and cooperative models TELD is committed to propelling the global electrification cold. With its experience and strengths in safety management TELD has received high recognition in the local market

process. collaborating with local distributors to support the electrification transformation of public transportation in Moscow.In the field of overseas heavy-duty trucks TELD has established dedicated charging stations for heavy trucks at local

mining sites for an Australian mining company. In a long-term heavy-dust environment ultra-reliable products with

strong protection have significantly reduced equipment failure rates making O&M management easier and more

Case Study efficient. This has improved logistics transportation efficiency and safety ensuring the normal operation of local electric

Boosting Overseas Operators in Building Charging Networks heavy-duty trucks.With the advantages of technologies products and experiences in EV charging area TELD assists Uzbekistan operators

in establishing electric vehicle fast charging stations locally providing DC charging services at multiple locations in

Uzbekistan and significantly enhancing the electrification level in this area.In Wellington New Zealand TELD provides public transportation charging solutions to support the electrification

transformation of buses in New Zealand. In Malaysia TELD provides AC/DC charging solutions for charging station

operators enhancing power utilization efficiency and achieving more effective charging services.

33 34Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Case Study Accelerate Overseas Expansion and Jointly Discuss International Cooperation in Charging Case Study

Accelerate the Expansion of International Partnerships through Win-win Cooperation Technology

In Uzbekistan TELD has signed a cooperation agreement with the Tashkent City Government to establish a public In the Brazilian market TELD has built a multi-scenario charging network and established close partnerships with

charging network in Tashkent to meet the charging needs of various scenarios including highways non-highways several well-known companies effectively promoting the development of the new energy electric vehicle and charging

electric buses and electric passenger vehicles. Additionally it has provided supporting charging network solutions for pile market in Brazil. In collaboration with its exclusive partner in Brazil TELD jointly presented at the Brazil E-MOB

planned projects under construction in Tashkent. Smart City and Renewable Energy Innovation Expo. Together with enterprises government agencies and professionals

from around the world we explored innovations and trends in electric vehicles and mobility technology smart cities

In Kazakhstan TELD has reached a cooperation with the largest automobile sales company in Kazakhstan to collaborate

and new energy.on industry standards charging safety public network construction and the ecological operation of the charging

network promoting the development of the charging network in Kazakhstan. In Kyrgyzstan TELD has collaborated with TELD has signed a strategic cooperation memorandum with Malaysian electric vehicle charging operator EVPower Sdn

local charging operators to provide leading charging network infrastructure for building the charging network. Bhd. Both parties will jointly build a charging network in Malaysia deploying 480 kW supercharging stations in various

scenarios such as highways creating a widely covered efficient and convenient charging network.

35 36Implementing ESG

Philosophies and

Building a New

Harmonious Ecosystem

Sustainable Development Goals Communications with Stakeholders

Sustainable Development Management Management of Material Topics

37 38Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Sustainable Development Goals Sustainable Development Management

The Company actively implements the national “Dual Carbon” strategy deeply analyzes its development path integrates the United

Nations 2030 Sustainable Development Goals (SDGs) into its strategic planning and comprehensively implements ESG goals to ESG Management System

promote its continuous development in the ESG field.The Company is deeply aware that achieving sustainable development goals requires an effective balance between environmental

protection social responsibility and economic growth. During the reporting period the Company actively integrated ESG concepts

into its strategic planning and established the ESG Management System. This provides clear guidance for the comprehensive

implementation of environmental protection strategies in production operations active fulfillment of social responsibilities and

continual improvement of corporate governance standards. The Company always respects and safeguards the legitimate rights

and interests of stakeholders striving to create economic benefits while promoting sustainable social and environmental

E S G development and is committed to achieving a harmonious coexistence of the economy society and environment.ESG Governance Framework

Environmental Social Corporate

protection responsibility governance The Board of Directors as the highest decision-making

body for the Company’s ESG initiatives undertakes

comprehensive oversight and leadership responsibilities. Its

Green Pioneers: Eliminating Innovation Leading the Way: Implementing ESG PhilosophiesExhaust and Smog for a “One Step Ahead Leading All and Building a New Harmonious main duties include formulating ESG governance policiesHealthier Future the Way” Ecosystem strategies objectives and medium- to long-term plans

overseeing the implementation of ESG development

Customer Orientation: Exceptional Governance directions and strategic goals providing guidance and Board of

Delivering Exquisite Products Innovating a New Model of reviewing and approving the Company’s ESG-related Directors

and Exceptional Services Non-Public Sector Party

Building systems and annual ESG reports. The Board of Directors Leadership Co-creating and Sharing: authorizes establishing the ESG Management Committee Decision-making

Building a Community of responsible for coordinating and guiding ESG

Mutual Benefits and Shared management. The Board of Directors and the ESG

Futures Management Committee actively fulfill their relevant

functions to ensure that the Company’s ESG management ESG Management

is comprehensive effective and aligned with strategic

Committee

development needs. To fully leverage the regulatory and

coordination mechanisms for the Company’s ESG matters Research Guidance

the ESG Management Committee has established an ESG

Executive Working Group which is dedicated to assisting

the Board of Directors and the ESG Management

Committee in guiding and implementing the regulatory

functions related to ESG topics.Under the coordination of the ESG Executive Working ESG Executive Working Group

Group various departments collaborate effectively to be Implementation Execution

responsible for the daily implementation of ESG initiatives

ensuring that the Company’s ESG strategy is integrated

into all aspects of work planning execution and

implementation.

39 40Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Main Functions of the ESG Execution Working Group Communications with Stakeholders

*Organize various departments to implement the Company’s ESG development strategy and targets. The Company’s sustainability is closely linked to its stakeholders whose opinions and needs are important driving forces for the

*Focus on identifying ESG risks that are closely related to the Company’s business and develop risk management Company’s sustainability. Therefore we place great importance on two-way communication with all stakeholders and actively

strategies and opportunity utilization plans. establish effective internal and external communication platforms to promote meaningful dialogue. We focus on the material topics

that matter to our stakeholders committed to enhancing the Company’s management to better respond to stakeholders’

*Assist in the development of the Company’s ESG policies and institutional framework enhancing the ESG awareness expectations create value for all stakeholders and collectively address future challenges and opportunities.and capabilities of management and employees.*Responsible for the disclosure of ESG information including the preparation and review of ESG Reports to ensure

the authenticity accuracy and completeness of the information.Stakeholders Focus and Expectations Response Measures

*Establish and maintain a communication mechanism with the Company’s stakeholders to regularly collect relevant

opinions and suggestions. Corporate governance General meeting of shareholders

*Report to the ESG Management Committee regularly . Information disclosure Investor relations activities

Shareholders or investors

Return and growth Periodic reports

Business ethics Interim announcement

Enhance product quality

Product quality

Customer satisfaction survey

Customers Customer service

ESG Training Activities Customer privacy protectionInformation security

Improve communication channels

The Company adopts sustainability strategy as a core guiding principle and actively promotes the implementation and practice of Fair promotion pathways

ESG concepts. To enhance the understanding and practical capabilities of ESG concepts the Company conducts regular ESG Employee training and career development

training activities to ensure that ESG principles are deeply integrated into its strategic planning daily operations and employee Professional trainingCompensation and benefits

code of conduct laying a solid foundation for the Company’s long-term sustainability. Employees Compensation and incentive mechanism

Occupational health and safety

Occupational disease prevention

Employee care

Safety production

Case Study Supply chain management Clean procurement

ESG Training Suppliers Fair procurement Integrity and commitment to agreements

Transparent procurement Communication and mutual assistance

In December 2024 the Company organized a Compliance with laws and regulations

specific ESG training session inviting industry Compliant operations

experts to provide a comprehensive analysis of Government and Lawful tax paymentBusiness ethics

current ESG regulations and the latest regulatory agencies Stable operations

developments. Through in-depth explanations and Driving economic development

Employment promotion

case analyses the training helps employees quickly

grasp the core knowledge of ESG and enhance

practical skills which provides strong support for Charity and public welfare Public benefit activities

the Company’s sustainability. Community and the public Environmental protection Response to the BRI

Corporate social responsibility Green development

Performance briefings

Media Information disclosure

Timely disclosure of information

41 42Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Management of Material Topics ESG Topic Importance Analysis Matrix Chart

21

Based on its long-term development blueprint the Company adheres to domestic and international ESG information disclosure

standards. It employs a dual assessment dimension of impact materiality and financial materiality and utilizes surveys and other 23

methods to comprehensively understand the expectations and demands of stakeholders thereby providing a scientific basis for 15 Neither financial

formulating sustainability strategies and risk management. 914 24 3 materiality nor impact

materiality

13After considering factors such as the “degree of impact of the Company on 12 18 22stakeholders” “degree of impact of stakeholders on the Company” and feasibility the 6 4 Financial materiality but

ESG Executive Working Group has developed a list of key stakeholders to participate in 27 26 1011 not impact materiality

this material topic assessment and invited them to engage in the assessment. At the Identify ESG topics

same time in accordance with the compliance requirements of the ESG Guidelines and mainly concerned by key 8 25 163

benchmark analysis of peer companies we have identified 27 ESG topics relevant to the stakeholders 5 17

Company.Impact materiality but

20 7 not financial materiality

The Company invited key stakeholders and major decision-makers to participate in an 19

online survey for the assessment of material topics ranking ESG topics related to

environmental social and governance aspects by their importance. The main

considerations for the Company’s key decision-makers in assessing the materiality of Both financial materiality

Conduct survey

topics are whether the topics are expected to have a significant impact on the and impact materiality

questionnaire

Company’s business model financial condition cash flow financing methods and costs

in the short medium and long term. The main considerations for stakeholders when

conducting a materiality assessment include the extent of impact on the Company’s

evaluation and decision-making as well as the degree of impact on their interests. Materiality to corporate finance Very high

Environmental Social Governance

1 Environmental management 9 R&D and innovation 21 Corporate governance

In line with its strategy and operational guidelines the Company assesses the system 10 Product quality and safety 22 Risk complianceimportance of ESG based on two dimensions of “materiality to economic social and 2 Response to climate changeenvironmental impacts” and “materiality to corporate finance”. 11 Customer rights and satisfaction 23 Business ethics

3 Green operations

The results of the Company’s comprehensive survey were ranked to determine the 12 Supplier management 24 Investor relations Rank the priority of

relative materiality of ESG topics across two dimensions. ESG topics are considered 4 Resource and energy managementtopics management 13 Employee employment and human “material topics” if their relative materiality is at least half or more across both rights 25 Protection of shareholders’

dimensions. The Company has identified a total of 5 topics of double materiality 1 5 Water resource management rights and interests

topic of financial materiality and 18 material topics of impact materiality across the 14 Employee training & development

three dimensions of environment social and governance. 6 Green low-carbon products 26 ESG governance15 Occupational health and work

7 Pollutant and waste safety 27 Party building

management

16 Protection of intellectual property

8 Clean production rights

The management team reviews the assessment results of material topics in 17 Data privacy and security

conjunction with the Company’s strategic goals and operational guidelines. Through a

Identify material topics comprehensive analysis we have identified the material topics that are significant to 18 Promotion of industry development

both the Company and its stakeholders along with their priority levels which are 19 Community public welfare activities

highlighted in specific sections of this report.

20 Rural revitalization

4344

Very high Importance to economic social and environmental impactsGreen Pioneers:

Eliminating Exhaust and

Smog for a Healthier

Future

Response to Climate Change Efficient Utilization of Resources

Enhancing Environmental Management

45 46Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Response to Climate Change

Governance

The Company deeply understands the profound impact of climate change on the global ecological environment social and

economic stability and corporate sustainability. To effectively manage related risks and grasp the opportunities for transformation

the Company has incorporated responsibilities related to climate change into its ESG (environmental social and corporate

governance) system. It has established an ESG Management Committee composed of senior management and heads of various

business departments which serves as the top governance organ to comprehensively coordinate monitor and actively promote

the preparation and implementation of strategies for addressing climate change. Through clear division of responsibilities regular

risk assessments and management process and the integration of climate considerations into key business decisions we ensure

that every aspect of our business operations—from strategic planning and operation management to investment evaluation—

effectively identifies assesses and responds to climate change challenges. This approach continually strengthens our climate

resilience and governance effectiveness.Strategy

The Company closely follows the

Impact

international climate action agenda. Likelihood of Risk Type Risk Description Occurrence Duration Explanation of Financial Impact Response Measures

Based on the United Nations’

Recommendations of the Task Force on

Climate-related Financial Disclosures

(TCFD) the Company accurately Sudden extreme weather events (such

identifies various risks and potential Rising Operating Costs: Establish effective emergency response plans as typhoons floods snowstorms

impacts brought about by climate Investment is required for

and regularly conduct emergency drills;

droughts and heatwaves) may cause equipment maintenance and Strengthen meteorological disaster early

change taking into account industry damage to company offices factory reconstruction. warning systems collaborate with professional

development trends and the Company’s buildings warehouses and Medium to meteorological agencies to obtain weather

own business characteristics. At the Acute Low Reduction in Operating Revenue: infrastructure affecting the normal Long-term information in advance and timely stock

same time the Company actively Risks There may be delays in orders operation of businesses such as power emergency supplies; Provide employees with

explores and captures new opportunities and loss of customers because of personal protective equipment and conduct equipment production and the

brought by climate change such as the business interruption. Increased regular specialized inspections; increase the construction and operation of EV insurance costs may also occur in

application and promotion of clean purchase of insurance related to personnel and charging networks. this situation.energy and green technologies. While property.reducing risks the Company is Physical Risks

committed to transforming climate In summer high-temperature weather

change into a development opportunity the increase in average temperature

to ensure achieving sustainable growth Strengthen equipment management adopt may lead to increased energy Rising Operating Costs:

in addressing climate change challenges energy-efficient devices eliminate outdated consumption for cooling and air Increased energy consumption. Medium to may lead to higher electricity equipment and reduce energy consumption; Chronic conditioning and then raise energy costs Medium Increase the proportion of clean energy usage;

Risks during the production process. At the Long-term

expenses; Raising equipment

maintenance costs may impact Implement measures to prevent heat stress

same time high temperatures may profit margins. and arrange production schedules reasonably.adversely affect the performance and

lifespan of outdoor equipment resulting

in increased maintenance costs.

47 48Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Likelihood of Impact

Risk Type Risk Description Occurrence Duration Explanation of Financial Impact Response Measures

Closely monitor policy dynamics and establish a

Rising Operating Costs: dedicated policy research team to timely track

Increase the Company’s national and local carbon reduction policies

environmental protection energy policies etc. and establish plans in

With the increasing stringency of national carbon reduction investments and compliance advance; Promptly adjust strategies to comply

policies and international carbon emission requirements the Short to costs. with the latest policies and government

Legal and Policy Risks Company may face more stringent carbon emission standards and Medium Medium-term requirements ensuring environmental

low-carbon technology innovation demands from regulators and Illegal Cost Incurred: Increased compliance in production operations; Actively

investors. costs due to fines and participate in the policy-making process

judgments or reduced demand

providing corporate perspective suggestions for

for products and services.policy formulation through industry associations

and other channels.Rising Operating Costs: The

Increase investment in R&D establish

The pace of technological innovation in the power equipment development of advanced collaborative mechanisms with universities and

and EV charging industry is accelerating. If the Company fails to technologies will increase the research institutions to jointly conduct

Technological Risks keep up with timely updates in technology it may result in Short-term to Company’s R&D costs; If Low cutting-edge technology research; Continuously

existing technologies becoming obsolete affecting the Company’s Long-term technology updates are not update and improve technology and existing

competitiveness in the market. timely it may lead to a decline products; And establish incentive mechanisms

in market share and affect

to encourage employee innovation.operating revenue.Transformation

Risks

Reduction in Operating Revenue: Continuously conduct market research to gain

Increased market competition in-depth understanding of consumer demand

The demand from consumers for low-carbon environmentally reduced market share and characteristics and proactively layout product

friendly products and services is continuously increasing. If the customer attrition may lead to a and service strategies ; Analyze competitor

Market Risks Company fails to meet market demand in a timely manner it may Short to decline in operating revenue. dynamics and formulate corresponding

result in a decline in market share. At the same time the entry of Medium Medium-Term competitive strategies; strengthen the

new competitors or changes in the strategies of existing Rising Operating Costs:

competitors will intensify market competition resulting in Purchasing more green and

procurement of green and low-carbon raw

pressure on the Company’s profit margins. environmentally friendly raw

materials screen high-quality green suppliers

materials may lead to an and establish long-term and stable cooperative

increase in production costs. relationships.Enhance brand building and

Reduction in Operating

In addressing climate change if the Company’s behavior fails to promotion;Maintain active communication with Revenue: Declining reputation

comply with environmental protection requirements it may be Short to the public and respond promptly to public

Reputation Risks Low and customer loss may lead

exposed by the media or social networks damaging the Medium-Term concerns; establish and improve public opinion to a decrease in operating

Company’s reputation and affecting its brand image. monitoring mechanisms to timely identify and revenue. address negative public sentiment.

49 50Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Opportunity Type Description Likelihood of Impact Explanation of

Occurrence Duration Financial Impact Data Collection

Energy substitution has led to the To identify climate-related risks the Company collects input data from various sources including management

continuous growth of new energy power operations teams external sustainability professionals suppliers customers and investors. By considering factors

generation installed capacity and the rapid such as carbon emissions resource scarcity regulatory changes and stakeholder expectations the Company can

Energy increase in the number of new energy

High Increase in operating Mid-term identify potential comprehensive climate-related risks that may impact the organization.Alternatives vehicles in use thus driving the vigorous revenue.development of the Company’s power

equipment and electric vehicle charging

network businesses.Scenario Analysis

Through the R&D and innovation of green

low-carbon technologies and products the Increase in operating

The Company employs scenario analysis to identify climate-related risks focusing on the opportunities and

Products and Medium and High revenue and profit challenges associated with the low-carbon transition pathway. This includes new market opportunities arising from Company can strengthen its market

Services long-term the robust development of new energy as well as the dilemmas faced by businesses reliant on traditional energy

competitiveness and secures new growth margin.sources under increasing carbon constraints in order to understand the scope of emerging risks and their potential

drivers.impact on the Company’s operations.Risk Assessment

Impact Risk and Opportunity Management The Company relies on publicly available climate databases and third-party professional data to assess the nature

probability and impact of climate risks.Climate-related risk management has become a core element for TGOOD in advancing sustainability and enhancing overall

business resilience. The Company has established a systematic and pragmatic set of processes and policies aimed at accurately

identifying scientifically assessing reasonably prioritizing and dynamically monitoring climate-related risks and opportunities Risk Prioritization

ensuring that the enterprise progresses steadily in a complex and ever-changing climate environment and market landscape.The Company integrates sustainability and climate-related risks into its overall risk framework carefully weighing the

strategic significance economic significance and long-term potential impacts of risks. It aligns these considerations

with the Company’s strategic objectives stakeholder expectations regulatory red lines and industry benchmark

practices to prudently determine risk priorities.Risk Monitoring

The Company has established a long-term mechanism to regularly review its climate change policies and assess key

performance indicators related to ESG factors in order to timely identify and respond to changes in risk conditions

or emerging risks.

51 52Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Metrics and Targets Ultra-Zero Carbon Digital Building Empowers Sustainability

Development

In response to the national strategic deployment of carbon peaking and carbon neutrality the Company integrates climate change

into the core of its development strategy based on policies such as The 14th Five-Year Plan for Energy Conservation and Emission Centered around the concept of “Ultra-advanced Zero Carbon Digital Architecture” the headquartersbuilding of

Reduction Comprehensive Work Plan. The Company is committed to promoting a comprehensive green and low-carbon TELD integrates cadmium telluride PV glass echelon battery energy storage and bidirectional charging andtransformation to contribute solidly to the nation’s ambitious goals for carbon reduction. During the Reporting Period the discharging technology for electric vehicles through a six-in-one microgrid framework of “TransformationCompany’s Greenhouse Gas (GHG) emissions were mainly derived from direct emissions (Scope I) from natural gas gasoline and Distribution Photovoltaic Storage Charging and Discharging” achieving 100% green energy self-sufficiency. The

diesel fuel consumed in daily office and production operations and indirect emissions (Scope II) from the use of purchased building is outfitted with rapid three-dimensional parking system which can achieve the capacity of a traditional

electricity. four-story garage within only 1.5-story space. By integrating a four-dimensional shuttle robot and bottom automatic

charging technology the building creates an efficient parking experience. The building is equipped with ten

thousands of sensors to create a digital twin system enabling real-time control of lighting air conditioning andKey Performance other equipment achieving an average annual energy savings rate of 35%. With a pioneered “Zero Carbon VirtualPower Plant” model the building can participate in grid peak shaving and reduce carbon emissions through an

energy digitalization platform providing an innovative blueprint for low-carbon operations in urban high-density

2024： buildings.

Total Emission of Greenhouse Gases GHG Emission Intensity

28280.20 tCO2e 0.018 tCO2e/10000 CNY of revenue

Direct GHG Emissions (Scope 1) Indirect GHG Emissions (Scope 2)

5209.90 tCO2e 23070.30 tCO2e

Managing Measures

Active Participation in Green Electricity Trading Leading the Way in Green

Energy Consumption

As a practitioner of green energy

consumption TELD enables deep in 2024

integration between new energy vehicles

and renewable power generation through the trading volume of green reducing GHG emissions by

its smart charging network. TELD power by TELD reached approx.continuously deepens its strategic layout

for green power trading and has achieved

large-scale procurement of new energy. 6.8037 million kWh 5585.84tCO2e

53 54Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Enhancing Environmental

Management Key Performance

During the reporting period the Company’s environmental

Environmental Management System protection investment totaled 15.18 million CNY.The Company upholds a strong sense of responsibility towards environmental protection and strictly adheres to relevant national

laws and regulations. It has developed an HSE Manual to establish a comprehensive HSE management system. The Company and

its subsidiaries have set up special environmental management departments with clearly defined responsibilities for each. These Environmental Management

departments play a significant leadership role ensuring the continuous optimization and efficient operation of the Company's

environmental management system. Measures

As of the end of the reporting period TGOOD and its subsidiaries such as TELD ChuanKai Electric and Yichang TGOOD have all

obtained ISO 14001 environmental management system certification. TGOOD Qingdao TELD New Energy Technology Co. Ltd (a Environmental Factor Identification

subsidiary of TELD) and Chuan Kai Electric have received green factory certification and ChuanKai Electric also has been

recognized as Sichuan Environmental Protection Integrity Enterprise. and Evaluation

TGOOD attaches high importance to environmental risk

management and has established the Environmental Factor

Identification and Evaluation Management Procedure to regulate

the identification evaluation and implementation of control

measures for environmental factors. As the lead department the

General Office of TGOOD collaborates with various departments

to systematically analyze the environmental impacts of the

Company’s production services and other activities. This

ensures the comprehensiveness and accuracy of the

identification process while avoiding any potential environmental

risk points.To ensure the timeliness and accuracy of environmental

information the Company has established a dynamic updating

mechanism for environmental factors. This mechanism is

designed to sensitively perceive changes in key factors such as

monitoring results management reviews annual evaluations

changes in policies adjustments in product processes and

updates to laws and regulations. By promptly updating

environmental information this mechanism provides reliable data

support for environmental management decisions thereby

promoting the continual improvement of the Company's

environmental performance.Environmental Impact Assessment

The Company and its subsidiaries strictly adhere to the

environmental impact assessment system and fully implement

the “Three Simultaneities” principle. For new construction

renovation and expansion projects the Company performs

environmental impact assessments and entrusts third-party

organizations to prepare environmental impact reports. This

ensures that environmental protection facilities are designed

constructed and put into operation simultaneously with the main

engineering projects and that the completion acceptance of

environmental protection for projects is completed on time

effectively eliminating environmental risks from the source.

55 56Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Environmental Monitoring and Inspection Case Study

Emergency Response Plan for Hazardous Chemical Leak Drills

TGOOD implements the concept of green development and establishes a comprehensive environmental monitoring system. The

Company regularly commissions qualified third-party testing organizations to conduct assessments and issue detailed testing reports of

pollution factors such as wastewater exhaust emissions and noise. On January 21 2024 a hazardous chemical leak drill was conducted in Workshop B of the TGOOD HV area. A paint

technician accidentally spilled paint and thinners. On-site personnel quickly contained the spill and reported it. The

To enhance environmental risk prevention and control the Company requires all subsidiaries to adhere to a quarterly environmental production line manager organized emergency response and the safety administrator conducted on-site inspections.hazard inspection mechanism actively conduct environmental inspections and thoroughly investigate environmental hazards in the The isolation team secured the area and all emergency responders worked closely together to successfully control the

production process. By strictly implementing safety regulations and fulfilling their own safety responsibilities the Company ensures leak clean up the site and restore production.effective risk management and prevents potential accidents.Key Performance

During the reporting period the Company and its subsidiaries conducted 16 hazard inspections identifying 26

issues in total all of which have already been rectified.Case Study

Emergency Drill for Hazardous Waste Temporary Storage Leak

On December 3 2024 Yichang TGOOD conducted an environmental emergency drill simulating a liquid leak in the

hazardous waste temporary storage area. Employees quickly reported an unusual odor and the environmental

monitoring team detected water quality exceeding standards and treated the wastewater. The emergency repair team

investigated and repaired the cracks while the emergency response team secured the site and assessed the damage.After the drill the environment was continuously monitored and walls were repaired to ensure a safe working

environment.Emergency Response to Environmental Incidents

To comprehensively enhance the capability of preventing and responding to sudden environmental incidents the Company and

its subsidiaries have developed an Emergency Response Plan for Environmental Incidents in accordance with the Emergency

Response Law of the People's Republic of China and other relevant laws and regulations. An emergency organizational structure has

been established by the Company covering an emergency command leadership group an emergency office a communication

group a site response group a logistics support group and a warning evacuation group among others. The emergency response

procedures have been clearly defined to ensure a rapid and efficient response in the event of sudden environmental incidents.The Company regularly organizes drills and training to continuously enhance its responsiveness to emergencies minimizing the

likelihood and impact of environmental emergencies and ensuring personal health and environmental safety. During the reporting

period the Company conducted 8 emergency drills for environmental emergencies.

57 58Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Regulations on the Emission of Wastewater Case Study

Waste Gas and Residue Optimizing and Upgrading the Heating Process of Heat Shrink Tubing

The Company adheres to the concept of sustainability and strictly complies with relevant national laws regulations and

environmental protection standards. At the same time the Company continuously improves treatment facilities of wastewater During the reporting period TGOOD HV actively fulfilled

waste gas and residue enhancing waste disposal efficiency and environmental protection levels through the adoption of advanced its environmental responsibilities by optimizing and

technologies and optimization of manufacturing process. As of the end of the reporting period the Company’s subsidiary TGOOD upgrading its production processes. Through

HV has been classified as a key polluting enterprise. technological innovation the heating process of heat

shrink tubing has been transformed from the traditional

During the reporting period Chuan Kai Electric failed to place some paint sludge and waste-activated carbon into the hazardous

natural gas combustion method to an efficient electric

waste temporary storage area. Various hazardous wastes were mixed with other debris in the temporary storage area violating

heating technology. Additionally the original exhaust

Article 81 Paragraph 2 of the Law of the People's Republic of China on Prevention and Control of Environmental Pollution by Solid

flue for waste gases generated by natural gasWastes which states that “Storage of hazardous waste shall adopt protective measures in compliance with the nationalcombustion has been closed achieving anenvironmental protection standards. Mixing hazardous waste with non-hazardous waste for storage is prohibited”. This resulted in

environmentally friendly upgrade of the production

a fine of 183.6 thousand CNY. After receiving the penalty Chuan Kai Electric promptly convened a dedicated rectification meeting

process and reducing waste gas emissions at the

assigning specialized departments and personnel to organize the hazardous waste temporary storage area ensuring that

source. On the other hand the TGOOD HV workshop B

hazardous waste was stored separately from other miscellaneous items. Additionally employee training on hazardous waste

has replaced oil-based paint with water-based paint

management was conducted to strengthen daily inspections and prevent the recurrence of similar issues. The penalty did not have

reducing the emissions of volatile organic compounds

a significant impact on the Company’s business and operating profit.(VOCs) and further promoting cleaner production laying

a solid foundation for the establishment of a green

factory.Waste Gas Management

The Company implements the Law of the People's Republic of China on the Prevention and Control of Atmospheric Pollution and

related laws and regulations and has formulated the Management Procedures for Atmospheric Pollution Prevention and Control

to comprehensively strengthen the monitoring and management of waste gas emissions within the plant. Meanwhile the Company

actively fulfills its corporate social responsibility by commissioning professional third-party organizations to regularly monitor

exhaust and dust emissions ensuring that all emission indicators comply with national environmental protection standards.Key Performance

Waste Gas Treatment Measures

Total waste gas emissions Including: Nitrogen oxide (NOx) Sulfur dioxide

* The dust generated during production is treated by dust collectors and exhaust gas purification

devices and is then discharged through a chimney of a certain height.TGOOD 131769 10000 m3 2.051 ton 0.174 ton

* The dust generated during the powder coating process is collected by dust removal equipment

and is cleaned regularly.Volatile organic compound (VOC) Particulate matter (PM)

* Welding fumes generated during the welding process are treated using electrostatic adsorption

technology. 4.748 ton 3.942 ton

* Dust generated from the sandblasting process is managed through cyclone dust collection and

TGOOD cartridge filtration.HV * Volatile organic Compounds emissions generated during the coating process are treated through

water vortex filtration filter pad activated carbon adsorption & concentration and catalytic

combustion technology. Note: The data statistical scope includes TGOOD production bases in Qingdao Chengdu and Yichang.

59 60Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Wastewater Management

Key Performance

The Company strictly adheres to the laws and regulations of the locations where it operates and has established a series of

management systems including the Management Procedures for Water Pollution Prevention and Control. These measures involve

monitoring the discharge of production and domestic wastewater to ensure that domestic sewage is treated rigorously and meets Quantity of general waste generated Disposal rate of general waste

discharge standards thereby reducing wastewater emissions and environmental pollution. 3145 ton 100 %

Key Performance 100%

Quantity of hazardous waste generated Disposal rate of hazardous waste

Total wastewater discharges Including: Suspended solids Ammonia nitrogen (NH3-N)

73379 0.59 0.115 583.14 ton 100 % ton ton ton

Total phosphorus (P) PH Note: The data statistical scope includes TGOOD production bases in Qingdao Chengdu and Yichang.

0.0009 ton 7.3

Noise Management

Note: The data statistical scope includes TGOOD production bases in Qingdao Chengdu and Yichang.The Company always prioritizes environmental protection and employee health strictly adhering to relevant laws and regulations

such as the Law of the People's Republic of China on the Prevention and Control of Noise Pollution and the Emission Standards for

Industrial Enterprises Noise at Boundary (GB12348-2008). It has established and implemented the Noise Control Management

Procedures committed to effectively controlling noise during the production process and minimizing the impact on operators

Residue Management surrounding residents and relevant stakeholders.To properly handle factory waste maintain environmental cleanliness and improve resource recycling rates the Company has Noise Sources Noise Reduction Measures

developed a Solid Residue Management Procedure in accordance with the Law of the People's Republic of China on the Prevention

and Control of Environmental Pollution by Solid Wastes the National Catalogue of Hazardous Wastes and other relevant standards.This procedure standardizes the classification storage and disposal processes of factory waste ensuring that solid residue is *Regularly maintain equipment prone to friction noise and ensure

managed appropriately. The Company clearly defines the responsibilities of each department in solid residue management

lubrication.stipulating that the General Office is fully responsible for residue management and each business unit is tasked with workshop Fixed noise source

residue disposal and daily inspections. The Company implements a reward and punishment mechanism granting rewards to teams *Isolate soundproof mute and absorb noise from key noise-emitting

with good performance in waste classification and management thereby strengthening employees’ environmental awareness and Operating noise of equipment.sense of responsibility. production and auxiliary

*Timely repair faulty equipment that generates noise.equipment

Prioritize the selection of low-noise equipment.Types of Production Waste from TGOOD HV Treatment Measures

Waste paint sludge activated carbon filter pad Entrust a qualified professional organization

and other waste materials for incineration treatment

*Enhancing employees’ environmental awareness through promotion to

Mobile noise sources develop a habit of handling and placing goods gently.Sludge Secure landfill

Vehicle operation noise *Standardize the maintenance and operation of motor vehicles and

noise from metal object welding machines

Metal packaging barrels and waste oil Recycling and Reuse collisions etc. *Restrict honking and vehicle speed within the plant area to reduce noise

pollution.

61 62Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Promoting Green Development Case Study

Environmental Protection Training for Spray Painting

Environmental Training On May 28 2024 Chuan

Kai Electric held a

The Company regularly organizes systematic environmental protection training courses to further strengthen employees’ awareness of training regarding

environmental protection and professional competence. This ensures that every employee deeply understands the importance of environmental protection

environmental regulations and sustainability enhancing practical skills such as energy conservation emission reduction and resource requirements for spray

recycling. painting in Workshop A

further enhancing

employees’ awareness of

environmental protection

Key Performance and operational skills in

spray painting operations.

2024

Number of environmental Number of person-times in Total Hours of Environmental

training sessions environmental training Training

13 Times 3970 Person-times 13895 Hour

Case Study

Environmental Safety Special Training

Case Study

Viewing Warning Educational Video Regarding Hazardous Wastes On October 15 2024 TGOOD HV organized a special training on environmental protection and safety. Through the

explanation of basic environmental knowledge safety regulations at the workplace and emergency preparedness and

response measures the training enhanced employees’ awareness of environmental protection equipped them with

During the reporting period the Company organized a viewing of a warning educational video regarding hazardous necessary environmental skills and effectively reduced the risk of environmental pollution in their work.wastes which showed the serious environmental and health risks associated with improper handling of hazardous

waste thereby enhancing employees’ awareness of the importance of hazardous waste management.

63 64Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Green Office Green Production

The Company actively responds to the national call for environmental protection promotes the concept of green office and

integrates resource conservation and low-carbon environmental protection into daily office and life leading the construction of Case Study

ecological civilization through practical actions.Currently TELD is actively embracing the green supply chain concept in the logistics operations for key components

like charging guns non-metallic materials and printed circuit boards. The Company has adopted reusable pallets and

Electricity Management logistics boxes as packaging containers throughout the entire process replacing traditional single-use cardboard boxes

and enabling the recycling of packaging materials. These durable reusable turnover boxes are used for transporting

components from suppliers to the Company. After use they are collected cleaned maintained and re-entered into

Post energy-saving reminders in prominent areas of the office use air conditioning appropriately set indoor air circulation. This approach not only eliminates significant packaging waste and reduces overall logistics costs but also

conditioning temperature to no lower than 26°C in summer and no higher than 20°C in winter and turn off air ensures the safety of sensitive electronic components during transit minimizing transportation damage. This is a crucial

conditioning and lighting equipment promptly after work. step in our sustainable packaging initiatives.Residue Management

Establish dedicated battery recycling points and implement waste sorting management ensuring proper disposal of

hazardous materials and enhancing resource recycling rates.Paperless Office

Advocate for paperless office practices fully utilize the internal OA system and encourage the use of electronic

signatures and online approval processes thus reducing paper consumption and enhancing work efficiency.As part of our green production system the Company is accelerating the electrification transformation of production

equipment in its internal logistics. Non-road mobile equipment such as forklifts transport flatbed trucks and stackers

are being systematically replaced moving from traditional fuel-powered to more eco-friendly electric drives. By

harnessing the renewable nature of electric energy we are improving the sustainability of our production processes.Currently core operational areas like production workshops finished goods warehouses and component assembly

zones are progressively transitioning to electric production facilities and non-road mobile equipment marking

substantial progress in our efforts to build a low-emission high-efficiency manufacturing environment.

65 66Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Energy Management System

Energy Risk ManagementGovernance Structure The Company adheres to the environmental protection principle of “enhancing efficiency reducing consumption saving energyand reducing pollution” and is committed to achieving an organic balance between economic benefits and environmental benefits

The Company is committed to continuously optimizing its energy management system to promote the efficient use of energy in corporate operations. The Company has developed a comprehensive energy risk management system utilizing regular energy

resources reduce energy consumption and environmental pollution and achieve a dual enhancement of environmental protection audits and assessments to accurately identify critical areas of energy consumption and carbon emissions. In response it has

and economic benefits. To this end the Company has established the Energy Resource Management Procedures which clearly implemented a range of innovative energy-saving and carbon-reduction measures to minimize resource consumption and

define the responsibilities and authorities of each department to ensure the systematic and standardized management of energy. environmental pollution at the source.Energy Risks and Opportunities Main Energy-saving and Consumption-reducing Measures:

In the context of the global energy transition TGOOD deeply recognizes the critical role of energy management in the

sustainability of enterprises. The Company accurately identifies and assesses energy risks and opportunities pinpoints pathways * Upgrade production equipment adopt advanced energy-saving technologies and processes and improve

for energy optimization and fully promote technological innovation and green transition. It is dedicated to achieving continual energy utilization efficiency.improvement in energy usage contributing to the sustainability of society and the environment. * Refine the management of production process optimize production planning and scheduling and avoid

equipment idling and energy waste.Likelihood Explanation

Risk/ Risk

Category Impact Response of of Financial * Establish an energy monitoring system to monitor energy consumption in real-time and promptly identify

Opportunity Description Duration Measures

Occurrence Impact energy waste and potential energy-saving opportunities.Enhance the flood prevention * Actively develop and utilize new energy by installing solar PV power generation systems at the Company’s

Extreme weather Increased and drainage capabilities of production bases to reduce dependence on traditional energy sources.Extreme directly damages operating infrastructure develop

weather infrastructure emergency response plans * Regularly conduct employee training to enhance awareness and skills in energy management.costs

Physical Risk events further impacting Medium Short-term conduct regular emergency * Actively develop new energy microgrids to efficiently integrate resources including EV

(heavy rain production Decreased drills and purchase relevant charging/discharging distributed photovoltaic power generation conventional energy storage and

floods etc.) operations and operating property insurance to reduce echelon battery storage. By leveraging the adjustable characteristics of electric vehicles

customer service. income losses caused by extreme

weather events. new energy microgrids aim to better match the intermittency and volatility of

renewable energy generation thereby enhancing renewable energy

accommodation capacity.The rise of new Continuously boost investment

technologies is in R&D establish a technology * TELD purchased green electricity to reduce the Company’s

reshaping the innovation incentive system carbon emissions.competitive landscape collaborate with research

Increased

Transformation Technological of the industry with institutions enhance High Long-term operating

Risk transformation customers increasingly technological reserves and

favoring products and costs talent development and

services that offer ensure the Company retains its

more advanced leadership position in

technological features. technology.Increase investment and layout

The promotion of

in the charging network sector

policies and the growth

accelerate the construction of

of market demand

Expansion of charging facilities expand the have accelerated the Increased

service network enhance

Opportunity the renewable rapid development of High Long-term operating service quality meet diverse

energy market the new energy vehicle revenue market demands through

industry leading to a

technological innovation and

rise in the demand for

business model innovation and

charging infrastructure.consolidate market leadership.

67 68Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Metrics and Targets Water Resources Management and Control

The Company conducted an in-depth analysis of its energy consumption identifying natural gas gasoline diesel and electricity The Company deeply understands the importance of water resource management and integrates it into its sustainability strategy

as the primary components of its energy structure. When setting energy management goals the Company strictly adheres to the striving to establish a comprehensive water resource management system. Through scientific planning and refined management

SMART principles taking into account its operational realities and relevant internal and external requirements to ensure that the the Company strives to ensure operational continuity while achieving highly efficient water utilization and conservation. In daily

established goals align with the Company’s long-term development strategy. operations the water resources used by the Company are entirely sourced from the municipal water supply system which are

primarily used for daily needs in office areas including restrooms and break rooms as well as for landscape irrigation.Energy Consumption

Energy types Unit 2024

Water Conservation Measures

Natural gas m3 2278731

*Introduce advanced smart water meters and monitoring systems to enable real-time monitoring and accurate

measurement of water usage in office areas. Through data analysis anomalies in water consumption can be promptly

identified allowing for swift investigation and resolution of potential leakage issues.Gasoline ton 3.56

*Promote water-saving devices vigorously install sensor faucets and efficient

water-saving drinking water equipment to meet employees’ daily water needs while

precisely controlling water flow.Diesel ton 88 *By organizing environmental protection training and posting water-saving slogans

the concept of water conservation is integrated into the corporate culture enabling

employees to develop good water usage habits in their daily work.Total purchased electricity kWh 42993482

PV generation kWh 2987662

Note: The data statistical scope includes TGOOD production bases in Qingdao Chengdu and Yichang.Key Performance

Total Freshwater Consumption Total Water Consumption

238902 ton 238902 ton

Note: The data statistical scope includes TGOOD production bases in Qingdao Chengdu and Yichang.

69 70Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Efficient Utilization of Resources Case Study

Green Packaging

To enhance material usage efficiency the Company has established a series of management regulations including the Raw

Material Inventory Management Regulations for the Small Transformer Division Warehouse On-site Management Regulations for the

Switchgear Division and Packaging Process Guidelines for Low and Medium Voltage Switchgear Products. Through standardized Chuan Kai Electric actively practices a green Currently TELD uses reusable turnover pallets in the

warehouse management processes and clear product packaging standards the Company aims to achieve effective resource development strategy. Proactively adopting procurement process for core components including

allocation and high efficiency in utilization thereby promoting sustainability. innovative measures to comprehensively replace charging guns non-metallic materials and printed

traditional wooden packaging with recyclable paper circuit boards.packaging instead of being requested by

customers. Meanwhile Chuan Kai Electric has also

conducted detailed optimization and rational

simplification of the packaging methods further

Packaging Material Comply with environmental standards and prioritize the selection of raw materials or improving the packaging process and effectively

Selection packaging materials that have obtained relevant certifications. reducing the overall consumption of packaging

materials.Packaging Optimize the packaging structure to reduce unnecessary packaging materials while

Design ensuring that the packaging strength and protective performance meet the standards.Packaging Thoroughly clean the product surface before packaging to remove dust grease sweat

Process and other impurities. Apply anti-rust grease and neutral petroleum jelly to the metal

surfaces to prevent rusting.Select wood with a moisture content not exceeding 20% and sliding wood and auxiliary

Production of sliding wood not exceeding 24% combined with conventional wooden plywood and

Packaging Boxes eco-friendly materials such as magnesium oxide concrete to create packaging boxes that

are both environmentally friendly and durable.

71 72Innovation Leading theWay: “One Step AheadLeading All the Way”

Innovation Leading Industrial Development R&D Innovative Strategic Goals

R&D Innovation Management System R&D Innovative Achievements

Key Performance

172 The Company participated new product in the formulation of A total of 1687

projects were

developed. 54 valid patents were national standards. authorized.

73 74Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Innovation Leading Industrial

Development EV Charging Network Business

Innovation is the core strategy for TGOOD. Since its establishment in 2004 the Company has consistently adhered to the TELD has pioneered a global charging network technology system taking a forward-looking approach by focusing on the efficient

innovation philosophy of “one step ahead leading all the way” continuously breaking through technological bottlenecks and utilization of electrical resources to support the large-scale development of electric vehicles. TELD fully exploits the effects of

leading industry development making it emerge as a leader in both the power equipment and EV charging network fields. electric vehicles as mobile energy storage in advancing renewable energy. It has made significant strides in hard technologies

including vehicle-grid interaction efficient power electronics liquid-cooled ultra-fast charging megawatt-level charging V2G

energy regulation virtual power plants edge computing big data modeling artificial intelligence and solar-storage-charging

microgrids. These innovations have addressed bottlenecks in the country’s EV industry enhanced the distribution network’s

capacity and green electricity consumption solving energy challenges in the large-scale adoption of EVs.Smart Manufacturing + Integrated Service Business In 2020 the “Electric Vehicle Charging Module Product” developed and produced by TELD was recognized by the Ministry of

Industry and Information Technology (MIIT) as a national-level “Manufacturing Industry Single Champion Product”. In 2024 after a

re-evaluation by MIIT the Company was awarded the title of a national-level “Single-Champion Manufacturing Enterprise”. In 2021Since its inception TGOOD has focused on the research development and manufacturing of outdoor box-type electrical TELD was named one of the first batch of national-level key “Specialized Refined Differentiated and Innovative (Little Giant)equipment establishing the largest research and production base for transformer substations in China. We have pioneered several Enterprises” by MIIT. In 2022 TELD’s Two-Layer Safety Protection System for “New Energy Vehicle Charging Safety Emergency“firsts” in China’s substation products including the first set of 10 kV mobile transformer substations for high-speed railways the Management” was recognized by MIIT as a “Pilot Demonstration Project for Big Data Industry Development”.first set of 35 kV skid-mounted mobile substations the first set of 110 kV prefabricated cabin-type modular substations the first

set of 220 kV prefabricated cabin-type offshore booster substations and the first set of 330 kV prefabricated cabin-type booster

substations. These innovations have not only filled gaps in domestic product offerings but also advanced China’s power equipment

industry as a whole.As the developer and participant in the technical standards for prefabricated Power Equipment in China the Company participated

in the preparation of the industrial standard titled Technical Specifications for Prefabricated Cabin-type Combined Equipment for

Substation – Part I: Switchgear Compartment. Released in 2024 this standard will play a key role in facilitating the wider adoption

of prefabricated substations prefabricated distribution rooms and other related products within the power grid system. TGOOD

has undertaken multiple national and provincial projects leveraging its leading technological innovation capabilities and strong

comprehensive strength. The Company has been recognized as a champion enterprise in the manufacturing sector by the Ministry

of Industry and Information Technology due to its intelligent modular prefabricated substation products.

75 76Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

R&D Innovation Management System

R&D System

As of the end of the reporting

period the Company has a total

of 12 high-tech enterprises.The Company has established a series of systems including the Product Development Procedure and Product Development Review

Management Standards to comprehensively regulate the entire process of new product development from the conceptual stage

to mass production introduction defining control requirements and review standards for each key milestone. The Group’s Research

Institute as the leading department is responsible for overseeing the overall process of product development ensuring that R&D

projects are efficiently advanced within budget. At the same time the Company focuses on building a team of product managers

empowering them with management responsibilities for the entire product lifecycle covering all aspects from demand analysis

and design development to market launch. Based on this relevant departments work closely together to form an efficient

collaborative working mechanism ensuring the standardization and efficiency of the development process thereby continuously

improving the Company’s R&D technology level and promoting product innovation and market competitiveness.Key Performance

In 2024 the Company’s R&D investment amounted to 574.59 million CNY accounting for 3.74%

of the operating income.R&D Platform

As one of the first batches of “Single-Champion Manufacturing Enterprise” recognized by the Ministry of Industry and Information

Technology of the People’s Republic of China TGOOD has achieved remarkable results in innovation and intellectual property. It

has successively been awarded titles such as “National Innovative Pilot Enterprise” and “National Intellectual PropertyDemonstration Enterprise”. Furthermore the Company has established multiple high-end technological innovation platforms

including postdoctoral research national engineering research center expert workstation and provincial engineering laboratories.During the reporting period TELD was successfully listed in the Shandong Province Green Low-Carbon Technology Achievements

Catalog Qingdao TELD New Energy Technology Co. Ltd (a subsidiary of TELD) was recognized as a national-level key

“Specialized Refined Differentiated and Innovative (Little Giant) Enterprises” and Xi'an TELD Intelligent Charging Technology Co.Ltd. (a subsidiary of TELD) was recognized as “Single-Champion Manufacturing Enterprise” at the national level.

77 78Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Innovation Incentive Cultivation of R&D Team

To fully stimulate the innovative vitality of technical personnel the Company has established an innovation incentive mechanism The Company utilizes the “Leading Innovation Forum” as a platform to vigorously carry out training for enhancing the capabilities

that includes multiple systems such as the Innovation Achievement Review and Reward Standards and the Management Measures of technical personnel promote the evaluation and certification of professional technical titles and facilitate collaborative efforts

for Technical Research and Development Incentives. Based on this the Company further optimizes the management process of R&D and experience sharing within the technical system. This further strengthens the technical foundation and provides solid support

outcomes clarifying project grading standards and reward details to ensure more scientific and precise evaluation and incentives for the Company’s integrated innovation.for innovative results. At the same time the Company has established a dedicated growth fund pool introducing a points-based

management system that closely links the innovative contributions of technical personnel to their individual career development.Once the innovative R&D results undergo rigorous evaluation and are recognized the technical personnel will be rewarded Case Study

accordingly. This not only acknowledges their innovative contributions but also provides strong momentum for the company’s TGOOD Leading Innovation Forum

technological advancement and long-term sustainability.In 2024 the Company conducted Phase I and Phase II Training Programs of the “Leading Innovation Forum” attracting

a total of 249 technical personnel. The training content covers multiple key areas including industry standards for

During the reporting period the Company combined the research activities in technology from various electrical equipment manufacturing sharing of product design case studies and management of the R&D process.departments and distributed rewards totaling 694.9 thousand CNY in the form of technology points. It conducted Through carefully designed courses the Company has comprehensively enhanced the professional capabilities of its

statistical evaluations of intellectual property that met the reward criteria distributing a reward amount of 165.9 technical personnel in product development laying a solid talent foundation for the Company’s technological innovation

thousand CNY. Additionally it carried out a challenge initiative with a total of 44 projects passing the review and and product upgrades.the total prize money for these projects amounted to 2.67 million CNY. TELD issued reward funds of 234.7

thousand CNY for the new product development projects.Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

HV) and Yilade.Education Composition of R&D Personnel

10%16%22%78%

Below Bachelor’s

R&D Team by R&D Team Male

Educational Level Bachelor’s by Gender Female

Master’s Degree

74%

Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

HV) and Yilade.

79 80Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Identification of R&D Impacts Risks and Opportunities

The Company analyzes the technological risks market risks and potential opportunities in the R&D fields of high-end electrical

equipment and EV charging in line with the development trends of the energy and electricity industry. It coordinates various

aspects of R&D activities and formulates response strategies to continually improve the capability of technological innovation.Risk Type Risk Description Frequency Impact Duration Financial Impact Response Measures

The R&D process may involve multiple

stakeholders (such as customers suppliers Cost Overrun: This may lead to R&D costs Perform R&D strictly in accordance with the product

Resource etc.) requires significant resources and is

exceeding the budget.Medium to Whole project development process. The project manager oversees

easily affected by external factors leading to Resource Waste: Increased external and monitors the progress conducting phase reviews Management Risk High lifecycle

increased coordination challenges and dependencies may lead to resource idleness on schedule to confirm the implementation and control

difficulties in project scheduling and cost or waste. status at each stage.control.Enhance market research by regularly collecting and

Research and development of products must analyzing market feedback，proactively grasping marketbe based on clear market demand and project Reduced Return on Investment: The product trends.feasibility. However actual market demand may fail to achieve the expected market

Whole project acceptance affecting sales revenue. Establish a close communication mechanism with Market Risk may be inaccurate or incomplete leading to a Low lifecycle customers to ensure accurate transmission of their

deviation of the R&D direction from market Waste of R&D Funds: The resources invested needs.needs and insufficient market competitiveness cannot be converted into commercial value.of the products. Establish a demand change management process to

timely adjust the R&D direction.Integrated R&D projects are typically divided

into multiple stages each with clearly defined Project Delay Costs: This may lead to Develop a detailed project plan that outlines the

Project Management Risk milestones. However if process node control is

Whole project additional development and testing costs. milestones for each stage.Medium

not rigorously enforced it can easily result in lifecycle Opportunity Cost: Project delays may result Regularly monitor project progress to promptly identify

project delays and an inability to meet in the loss of market opportunities. and correct deviations.deadlines.Failure to prioritize the standardized Revenue expansion failed to meet targets: Establish a system for managing intellectual property and

management of intellectual property at various Insufficient intellectual property protection clarify the management processes.stages of R&D may result in insufficient may lead to rapid erosion of competitive

advantages in new technologies and Enhance intellectual property training to raise awareness Legal Risk protection of the intellectual property of R&D Low Long-term

products. among R&D personnel.achievements and even lead to infringement

of others' intellectual property triggering legal Legal Compensation Costs: Compensation Conduct regular intellectual property risk assessments and

disputes. for infringement may be required. take timely protective measures.

81 82Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

R&D Innovative Strategic Goals

Likelihood of Impact Based on its innovation philosophy and R&D system while aligning with practical development needs the Company has Opportunity Type Description Financial Impact

Occurrence Duration established its annual innovation goal as follows:“Build integrated innovation capabilities supporting the new power system through primary and secondary equipment integrationdrive a cost revolution through standardization and modularization position products with digitalization and full-lifecycleEnhance the green and perspectives and enhance core market competitiveness comprehensively”.Develop techonologies and smart features of During the reporting period the Group’s Research Institute advanced the processes of standardization modularization and

products of electrical equipment products to increase

Market digitalization. Through the use of innovative approaches such as technology and supply chain collaboration integration of product

and EV charging fields to meet High Long-term sales revenue.Opportunity system solutions component selection structural optimization and modularization standardization the Company continuously

the market demand for greening Enhance market share iterated its core products. This led to the digitalization and lifecycle design of core products achieving a 100% completion rate for

and intelligentization. and increase return on R&D projects.investment.Enhance the added value

Drive digital transformation in of products and services

business and enhance the added to increase sales

Digital value of products and services High Long-term revenue.Transformation utilizing big data artificial

intelligence and Internet of Optimize production

Things technologies. processes to reduce

operational costs.With the continuous advancement

of China’s “Double Carbon” and

“New Power System” strategies

strong support has been given to

the new energy industry. A It is conducive to market

Policy number of incentive policies have expansion increase in

High Long-term

Opportunity been introduced to promote the sales revenue and profits

development of electric vehicles and enhancement of

and charging infrastructure brand influence.creating a favorable policy

environment and market

opportunities for TGOOD.

83 84Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

R&D Innovative Achievements Electric Vehicle Charging Network

In 2024 TELD independently developed an automatic charging robot for passenger vehicles which adopts an innovative bottom

Smart Manufacturing + Integrated Services charging mechanism contact conduction and a single-axis movement system. This design effectively addresses common challenges in the practical application of current automatic charging products for passenger cars such as large footprint high

costs and complex installation. This lays an important foundation for the large-scale application of automatic charging technology

in passenger vehicles.In 2024 we independently developed a complete set of new energy step-up box transformer featuring fully insulated hermetically

In 2024 TELD introduced three key AI big models focused on charging safety energy regulation and intelligent O&M. These

sealed and maintenance-free design. The entire enclosure achieves IP66 protection rating enabling reliable operation in harsh

models utilize the advanced computing performance and neural network capabilities of large models enhancing the precision of

renewable energy environments with high humidity high salinity and high altitude conditions. In response to international market

electric vehicle charging safety load prediction PV power generation and O&M efficiency of large-scale charging systems.demand we innovatively developed a 33kV overseas new energy box transformer for international renewable applications which

obtained TüV Rheinland certification and certification for the entire product series including the prefabricated substation and

internal components. For switchgear systems we introduced our second generation intelligent MV/LV switchgear in 2024. These

products incorporate high-precision sensors that collect real-time data on equipment status and electrical information enabling Key Performance

early detection of potential risks and improving operational and maintenance efficiency while reducing costs. Furthermore we have

developed Eco-Friendly Gas-Insulated Switchgear utilizing novel environmentally friendly insulation media that completely replace

SF6 gas. After rigorous testing it has been certified under both the GB/T 3906-2020 China National Standards and the IEC

62271-200 International Electrotechnical Commission Standards. During the reporting period the Company and its subsidiaries undertook a total of 172 new product

development projects.Note: The data statistics scope includes the Company TELD TGOOD HV Yichang TGOOD Yilade and Chuan Kai Electric (a wholly-owned subsidiary

of TGOOD HV) and Yilade.Industry-University-Research Cooperation

The Company has established robust internal and external collaboration frameworks with the technology center creating

66kV new energy step-up box transformer

cross-departmental teams to foster information flow and knowledge sharing stimulating team innovation and enhancing R&D

efficiency. Establish partnerships with universities research institutions and other entities to Partnerships have been forged with

universities research institutions and other entities to collaborate on R&D accelerate the commercialization of technological

advancements and boost the Company’s technological and innovation competitiveness.Case Study

Collaborating on the National Key R&D Program to Lead Industry Upgrading

Intelligent MV/LV switchgear

In November 2024 Qingdao TELD New Energy Technology Co. Ltd. (a subsidiary of the Company) in collaboration with

Tsinghua University Hunan University and other academic and research institutions jointly applied for the Special

Project on Key Technologies and Equipment for Urban Sustainable Development under the National Key R&D Program.The project aims to address critical low-carbon and high-efficiency synergies between buildings and transportation

focusing on the research and application of key technologies for flexible interactive energy consumption systems

between buildings and electric vehicles. It will work to overcome bottlenecks from foundational theories to core

33kV overseas new energy box transformer autonomous equipment ultimately driving industry and upgrading.

85 86Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Contributing to the Industry Development

As the developer and participant in the technical standards for prefabricated Power Equipment in China the Company participated

in the preparation of the industrial standard titled Technical Specifications for Prefabricated Cabin-type Combined Equipment for

Substation – Part I: Switchgear Compartment. Released in 2024 this standard will play a key role in facilitating the wider adoption

of prefabricated substations prefabricated distribution rooms and other related products within the power grid system. The

Company has been recognized as a champion enterprise in the manufacturing sector by the Ministry of Industry and Information

Technology due to its intelligent modular prefabricated substation products.The Company is committed to technological innovation driving the development of the long-duration charging industry through

cutting-edge technology. In the electric vehicle charging sector we have undertaken and participated in numerous national-level

major research projects and have led or participated in the development of multiple national and industry standards. As a

recognized National Intellectual Property Advantage Enterprise we are proud to host the National Local Joint Engineering

Research Center for Electric Vehicle Intelligent Charging approved by the National Development and Reform Commission (NDRC).The “Electric Vehicle Charging Module” developed and produced by the Company has been recognized by the Ministry of Industry

and Information Technology (MIIT) as a national-level “Manufacturing Industry Single Champion Product”.Key Performance

As of the end of the reporting period the Company has contributed to the development of 54 national

standards 25 industry standards and 28 group standards.Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

HV) and Yilade.Protection of Intellectual Property Rights

Intellectual Property Management

Adhering to the management philosophy of “unified management collaborative division of labor and orderly regulation” the

Company has established a comprehensive intellectual property management system. The Company has established the

Intellectual Property Management Standards clarifying the responsibilities of the intellectual property management organization

and standardizing the management processes from application and registration to changes. Based on this the Company identifies

and effectively manages potential risks such as non-compliance in patent applications missing management content and unclear

reward and punishment mechanisms further improving the incentive and constraint mechanisms. As of the end of the reporting period the Company and some subsidiaries have obtained

certification for their intellectual property management system.

87 88Qingdao TGOOD Electric Co. Ltd. 2024 Sustainable Development Report & ESG Report

Tiered Management of Intellectual Property Protection of Intellectual Property Rights

The Company implements classified management and tiered evaluation of intellectual property based on key metrics such as In key areas such as project R&D product development and market promotion the Company conducts systematic intellectual

technological advancement applicability and market value. By comprehensively reviewing patent value technological layout and property investigations and evaluations. This includes regular searches analysis and new product reviews to comprehensively

market application prospects the Company systematically optimizes its intellectual property management system. At the same identify potential infringement risks and ensure compliance with business activities.time the Company has implemented a regular infringement monitoring mechanism for its authorized patents and trademarks

At the same time the Company actively builds a robust system for intellectual property protection by promptly applying for patents

actively tracking market trends in real time. This allows the Company to promptly identify and effectively address potential

and trademark registrations for innovative achievements. This strengthens the protection of its intellectual property rights. In

infringement risks thereby safeguarding the legitimate rights and interests of its intellectual property.response to potential infringement actions the Company takes proactive measures led by the Group Research Institute in

collaboration with the Legal and Risk Control Department to conduct investigations and gather evidence. Based on risk

assessments tailored response strategies are formulated and legal means are employed when necessary to protect the

Company’s intellectual property rights and safeguard its legitimate interests.Key Performance

As of the end of the the Company has accumulated a total of Case Study

reporting period Patent Infringement Risk Training

1687 valid authorized patents

The Company organizes training sessions about

intellectual property laws and regulations for

240 1221 226 employees in relevant departments. The training including covers topics such as criteria for determining

infringement legal consequences strategies for

invention patents utility model patents design patents protecting intellectual property and measures to

resolve infringement disputes. This aims to enhance

employees’ awareness of intellectual property

391 335 30 protection and help them understand risk prevention methods in their daily work.

software copyrights trademarks published papers

Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

HV) and Yilade.

89 90Customer Orientation:

Delivering Exquisite

Products and

Exceptional Services

Strict Control of Product Quality Responsible Supply Chain

Optimizing After-Sales Service Protection of Information

91 92Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Strict Control of Product Quality As of the end of the reporting period the Company and some subsidiaries have obtained quality management system certification and multiple product testing certifications.The Company’s quality policy focuses on “customer-centric thinking forward positioning strict control of NCC closed-loopimprovement rigorous detail management and iterative upgrading”. In line with its development strategy the Company expands

its focus from solely “product quality” to a broader emphasis on both “product and service quality” ensuring that its products and

services meet customer requirements.Quality and Service Management

The Company actively implements national quality policies and regulations and aligns its systems with the ISO 9001:2015 standard

relevant product certification rules and customer requirements. It has developed comprehensive quality management systems

including the Quality Manual Quality Inspection Work Standards and Customer Experience Service Work Standards. The Company

strengthens the product quality inspection process during production and continuously improves the quality management

organizational structure covering all aspects of product design development procurement production and after-sales services

thereby establishing and improving the quality management system.System Planning Process Quality System Certification of the Company and Its Subsidiaries

The Company adheres strictly to market regulatory requirements improves the principal responsibility system for quality and

safety and clearly defines the quality and safety responsibilities of each position. Assessment methods are formulated to supervise

relevant personnel in fulfilling their responsibilities thus ensuring product quality and safety. During the reporting period the

Company did not experience any significant product quality or safety incidents.Use of Facilities (Resources/Equipment) Who is Responsible

(Capabilities/Skills/Training)

Company meeting room Top management

Other office facilities Group quality and basic management

center

Input

Output

Quality policy and quality objectives

Quality Objectives Established for

Customer demand information Each Sub-Process

Relevant laws and regulations

Management Process for Documentary quality management

systems

Results of data analysis System Planning

Personnel equipment

(M2) environmental requirements

How to Do It (Methods/Procedures) Quality Objectives of This Process

Quality objective management procedure Quality objectives align with the SMART

principles

Quality objectives and quality improvement plan

Product Quality Testing and Certification of TELD

93 94Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Identification of Quality Impact Risk and Opportunity Quality Risk Management

The Company is committed to providing customers with high-quality products and an excellent service experience. With the rapid

development of industry technology the continuous changes in market demand and the uncertainty of the external environment Quality Risk Identification

the Company faces numerous challenges as well as significant opportunities for development in the areas of product quality

safety and service. To better manage these risks and opportunities the Company proactively identifies and evaluates potential The Company analyzes internal and external factors related to quality objectives and strategic direction as well as stakeholder

influencing factors and develops scientific and effective response strategies to ensure its sustainable and stable growth. This needs based on its quality management system. It establishes a risk identification process to determine the risks and opportunities

approach not only strengthens the Company’s market competitiveness but also enhances customer satisfaction. that need to be addressed and formulates targeted response measures to mitigate quality risks.Risk Type Risk Description Frequency Impact Financial Risk Identification ProcessDuration Impact Response Measures

1. Standardize the Calibration Who is Responsible Use of Facilities (Resources/Equipment)

Work Standards for Measuring (Capabilities/Skills/Training)

Instruments; the Company applies

During the quality Computers and networks Process responsible person; top management

for a budget at the end of each

inspection process the Meeting room Process-related responsibilities: Departments

year and formulates an annual

Company may encounter

calibration plan conducting

product quality issues due

verification/calibration according

to verification methods not Increased

to the plan.meeting standard non-operating Input

requirements the expenses 2. Establish performance

Quality Risk Medium Mid-term

inappropriate selection of decreased indicators for assessment; Changes and trends that may

inspection equipment and operating conduct spot inspections and impact the Company’s targets;

untimely calibration of income maintenance before The relationship with stakeholders

monitoring and commencement. as well as their concepts and

measurement devices values

Output

3. Establish a ledger to monitor

resulting in compensation Corporate strategy internal

verification time; conduct 风险识别过程 Risk and opportunity assessment

by the Company. policies and commitments and control measures

evaluation and confirmation Acquisition of resources and (M0)

during the planning of monitoring Emergency response planpriority supply and technological

and measuring devices. changes

Stakeholder requirements related

to the quality management system

Opportunity Impact

Type Description Frequency Duration Financial Impact

The quality requirements of customers

for products are increasingly high. The

Market Company’s products and production How to Do It (Methods/Procedures) Quality Objectives of This Process

Opportunity High Long-term Increase in operating incomeprocesses are refined and accurate Identification of Risks and Opportunities Effective identification of risks and opportunities

with timely delivery that meets

customer needs. Effective response measures to address risks and opportunities

95 96Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Quality System Audit

Quality Management Objectives

The Company has established Internal Audit Standards to continuously improve the internal audit workflow set up a professional

internal audit team and developed a comprehensive quality management system audit plan. The audit covers the Company’s The Quality and Basic Management Center of the Company has analyzed historical data and in conjunction with the Company’s

design processes production and inspection processes and after-sales service processes. It aims to identify deficiencies in the strategy established reasonable and effective quality management objectives. It closely monitors the implementation progress and

operational systems of various departments formulate rational improvement suggestions and ensure the continuous and effective ensures the efficient achievement of these goals through practical measures thereby contributing to the steady improvement of

operation of the Company’s quality system. the Company’s quality management level.The Company values the training of internal auditors and enhances their capabilities through various methods such as mentorship

offline learning online examinations and participation in internal audits thereby cultivating a reserve of internal auditors.Quality Management Measures

Case Study

Enhancement of Internal Auditor Competencies

The Company has established an annual quality training plan which mainly includes professional skill courses such as quality

planning response to quality issues process management and QC methods. Various forms of training including the use of the

In June 2024 the Company implemented a training program to enhance the skills of internal auditors for the quality TGOOD Learning Platform and internal professional instructors are actively implemented to conduct internal quality training. The

management system. The training covered aspects such as quality management system standards management aim is to comprehensively enhance employees’ quality awareness and professional competence ensuring the quality of products

responsibilities resource management performance evaluation and improvement and audit requirements. Qualified and services.internal auditors who passed the examination were involved in internal audits thereby improving internal auditing

capabilities through practical experience.Case Study Case Study

QC Method Training Quality Issue Analysis Training

On June 12 2024 the Company’s subsidiary TELD On September 26 2024 the Company’s

organized QC method training for various subsidiary TELD organized training on handling

departments through an online platform. The market quality issues aimed at comprehensively

training covered inspection checklists Pareto optimizing the handling process. The training

charts cause-and-effect diagrams and other seven guided employees to understand problems using

QC tools providing a detailed explanation of the the 5W2H framework shared typical cases

specific applications of each method. After learning analyzed the causes of issues based on actual

and practicing employees from different market data explained improvement measures

departments were able to apply QC tools in their and enhanced employees’ ability to address quality

actual work effectively enhancing their quality problems.control capabilities.Key Performance Key Performance

During the reporting period the Company organized 12 internal audits of the quality management system and During the reporting period the Company and its subsidiaries conducted a total of 54 quality training sessions

conducted 1 external audit. The quality management system documentation complies the requirements of ISO 9001. with a total duration of 5017 hours and a cumulative participation of 2978 person-times participated.Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

HV) and Yilade. HV) and Yilade.

97 98Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Optimizing After-Sales Service Enhancement of Customer Satisfaction

Post-Sales Management System Satisfaction Measurement

The Company has established the External Customer Satisfaction Work Standards to create a comprehensive customer satisfaction

The Company has established the After-Sales Service Workflow and other systems to standardize the comprehensive service survey process. Through various methods such as telephone follow-ups on-site surveys and online technology surveys the

process standards for various products during installation commissioning and maintenance. During the service process the Company collected feedback from different types of customers regarding product quality design schemes service attitude and

Company implemented a series of quality and safety control measures including rigorous inspection and commissioning of equip- other aspects. This enables effective improvements based on customer feedback continuously enhancing customer satisfaction

ment conducting on-site safety checks and acceptance testing after equipment operation to ensure the absence of hidden and product quality.hazards. In addition the Company has established smooth communication channels and conducted follow-up phone calls to

During the reporting period the Company’s customer satisfaction score was 95.customers within a specified time after service completion to continuously enhance the customer experience.The Company has developed an emergency response plan for customer site issues and established an abnormal service process.In response to various on-site incidents the Customer Service Center promptly arranges for after-sales personnel to understand

the on-site problem information. Based on the emergency handling plan and actual circumstances they propose resource require-

ments to address the issues and complete the closure of the work. Customer Service Training

Premium service serves as the cornerstone of our market presence and customer trust. The company places strong emphasis on

enhancing the professional competencies of our customer service teams. Through ongoing targeted training programs we

continuously strengthen employees' capabilities in analyzing and resolving critical business issues.As of the end of the reporting period the Company’s subsidiary

TELD has passed the product after-sales service evaluation

system.In 2024 the Company and its subsidiaries received a total of

56 customer feedback issues with a 100% problem

resolution rate.

99 100Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Case Study Responsible Marketing

Customer Service Training

The Company recognizes that its reputation and the trust of its customers are built on the foundation of providing truthful and

In October 2024 to effectively enhance customer service quality the Company organized a training session for 291 staff accurate information. The Company has established and strictly implemented relevant regulations such as the TELD Media

members at the Customer Service Center focused on analyzing quality issues at project sites. The training lasted for 2 Management System and the Guidelines for Publishing on the WeChat Official Accounts of TGOOD and TGOOD Community to

hours during which the effectiveness of the training was assessed through communication and interaction reinforcing standardize the information dissemination on new media platforms ensuring the authenticity and accuracy of promotional

employees’ ability to control quality at project sites. information.While pursuing business success TGOOD also remains committed to social responsibility actively conveying the Company’s values

and commitment to sustainability through new media channels. We are committed to building a positive professional and socially

responsible brand image and to engaging in open and sincere communication with all sectors of society through new media

platforms. TGOOD will continuously strive to promote the harmonious coexistence of enterprises and society through

high-standard marketing practices achieving a win-win situation that generates both economic and social benefits.Key Performance

During the reporting period TELD organized 2 assessments on customer complaint response achieving a 100%

assessment pass rate.

101 102Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Responsible Supply Chain

Supply Chain Management System Evaluation and Grading

The Company implements dynamic management of qualified suppliers summarizing supplier performance data every half a year

with relevant departments conducting comprehensive evaluations based on quality technology price and other aspects.Supply Chain Objectives

Enhance marketing competitiveness Supplier Grading Management Measures

Promote operational efficiency to achieve goals

Achieve sustainable cost reduction through ecological partnerships

Grade A Ensure support in resource planning new product development procurement and allocation

of shares.The Company has established the Procurement Control Procedures and Supplier Management Standards to standardize procurement

business processes and establish management standards for production material suppliers. The Supply Chain Center is responsible for

the full lifecycle management of qualified suppliers continuously promoting the achievement of three major goals and building an

efficient supply chain system. Grade B Perform equal selection in resource planning new product development procurement and

share allocation.Key Performance

As of the end of the reporting period the Company had 978 suppliers with local supplier procurement Grade C Focus on key management of issues analyze and propose improvement suggestions and

limit the procurement share of new project selections.expenditures accounting for 19.53%.Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD Grade D Initiate a comprehensive phase-out or partial phase-out process for the supplied materials.HV) and Yilade.Supplier Management Mechanism

Review and Elimination

Development and Access

The Company forms a review team consisting of leaders from multiple departments to evaluate the qualifications of suppliers. After

The Company introduces new suppliers based on actual needs and establishes a supplier resource database through screening. the evaluation an on-site inspection process is established followed by a comprehensive review of the supplier’s quality system

Information surveys and evaluations are conducted on the qualifications supply capabilities quality safety and environmental and technical aspects. A detailed review report is then compiled and suppliers are monitored to ensure they address

management system certifications of new suppliers. An evaluation team conducts on-site inspections of production suppliers and non-conformance issues within a specified timeframe. Suppliers who cause economic losses due to ineffective rectification of

those meeting the qualification standards are included in the qualified supplier list which is prioritized for selection in daily quality problems or who violate business conduct standards are subject to dynamic blacklist management. Relevant personnel will

operations. review the supplier’s behavior and make decisions regarding their potential removal from the supplier list.

103 104Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Supplier Communication案例

Supplier Training

The Company’s supplier management specialist regularly compiles supplier performance data provided by various departments

monitors non-conformities and other anomalies communicates feedback promptly understands the reasons for the anomalies and

implements dynamic management. On April 29 2024 the Company’s subsidiary TELD organized quality management training for suppliers primarily

emphasizing the leadership role and related responsibilities of the Company’s management in quality management. This

initiative assists suppliers in gradually improving and enhancing their quality management practices.Satisfaction The Company conducts a supplier satisfaction survey in the form of an online questionnaire accepting

Surveys reasonable opinions and suggestions from suppliers to build a fair and equitable cooperation platform.Grievance The Company has established feedback channels to receive supplier complaints. The supplier

Channels management specialist is responsible for regularly summarizing the complaints. After investigation

and confirmation of validity by relevant departments corrective actions are taken.Key Performance

Supplier Quality Management

To continuously improve the quality assurance capabilities of suppliers the Company conducts quality management of suppliers

based on the quality management system. By signing a Quality Assurance Agreement with suppliers specific standards for the During the reporting period the Company and its subsidiaries conducted a total of 17 supplier quality training

products and services provided by suppliers are established. The Company controls the quality processes of suppliers through

methods such as factory audits and product inspections. sessions with a total training duration of 144 hours.The Company and its subsidiaries conduct supplier training in accordance with the annual quality training plan promote quality

culture enhance suppliers’ quality awareness and strengthen economic cooperation between both parties.Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

HV) and Yilade.

105 106Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Improvement of Procurement Capability Sustainable Supply Chain

To strengthen the core competitiveness of the Company’s procurement business the Company has organized specialized training

to comprehensively enhance the procurement team’s ability to accurately manage the procurement process and optimize resource

allocation. This initiative aims to help the Company reduce operational costs and achieve the goals of cost control and maximization Supplier ESG Management

Decent Work

of benefits. Management System 100% Child Labor

The Company places great importance on suppliers’ 80%Responsible Procurement 60% Labor Compensation

effectiveness in fulfilling social responsibilities and has

Business Ethics 40% Humanitarian and Fairness

developed a comprehensive ESG scoring system for 20%

Case Study Energy Conservation and suppliers to conduct self-assessments. This standard 0% Freedom and CommunicationEmission Reduction

Training for Procurement Personnel

evaluates various dimensions including labor rights health Environmental Protection Safety and Awareness

and safety environmental impact business ethics and Living Facilities Firefighting Facilities

management systems. An evaluation report is generated

During the reporting period the Company’s Supply Chain Center organized internal training for all employees to Health and Wellness Mechanical Equipment Safety

and cooperation is suspended with suppliers who commit Chemical Management

enhance procurement capabilities. The training included courses on supplier sourcing management supplier

zero-tolerance violations. Serious issues identified are

performance management and quality SQE business learning related to the supply chain. Assessments were conducted

required to be rectified within a specified timeframe. Supplier Social Responsibility Evaluation Indicators

through on-site Q&A sessions to ensure effective outcomes laying a solid talent foundation for the efficient operation

of the Company’s supply chain.Key Performance

As of the end of the reporting period the Company has 690 suppliers certified for quality management

systems 464 suppliers certified for environmental management systems and 437 suppliers certified for

occupational health and safety management systems.Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

HV) and Yilade.Key Performance

During the reporting period the Company conducted a total of 63 procurement training sessions with a total of

3813 Supplier Integrity Development person-times participated and a training duration of 5513 hours.

To build a clean and honest supply chain ecosystem the Company continuously improves the integrity management of its suppliers

and formulates integrity measures in the procurement process. The Audit and Supervision Center is responsible for supervising

integrity practices in procurement activities and accepting reports of violations from external suppliers and internal employees to

Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD prevent integrity risks in the supply chain.HV).

107 108Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Protection of Information Security

Measures for Fair Procurement

The Company places significant emphasis on information security and privacy protection throughout the digital construction

Establish an integrity registration ledger to record all items delivered by suppliers including notebooks pens and process working diligently to establish a comprehensive information security management system. In the areas of data collection

calendars which will be managed by the auditing department. storage and transmission we strictly follow industry standards to ensure the security and privacy of both internal information and

During the supplier evaluation process implement the process management of the Supplier On-Site Integrity customer data. This commitment helps us provide customers with a high-quality service experience.Acknowledgment Letter.Establish integrity warning signs in the Company’s internal office areas and conduct regular integrity training and

awareness activities.The Company has signed the Integrity Self-Discipline Agreement with all employees in the supply chain system and

the Supplier Integrity and Honesty Agreement with suppliers clearly defining the standards of integrity and the Information Security Management System

liability for breach of contract for employees and suppliers in procurement activities thereby strengthening the

integrity defense line.The Company strictly adheres to the Cybersecurity Law of the People's Republic of China and other relevant laws and regulations. It

has established management systems related to network and information security management such as the Information Security

Organization and Emergency Plans. The Company has set up standardized management practices implemented unified

management and established a cybersecurity leadership group which includes a network and information security working group

and an emergency response working group. This ensures efficient collaborative management and guarantees the normal operation

of network and information systems.The Company has established a professional network and information security team that focuses on monitoring the network

Procurement Personnel Sign Integrity Agreements Suppliers Sign Integrity Agreements security status assessing potential security risks and responding swiftly to various security threats. During the reporting period

the Company did not experience any incidents of information security or customer privacy violations.Case Study

Fostering a Clean-fingered Supply Chain through Win-win Cooperation

On March 17 the Company held the 2024 Supply ChainSummit Forum themed “Coexistence Co-creation andWin-win: Creating a Bright Future with a Smart Chain”.The Company is committed to creating a clean As of the end of the reporting period the Company’s subsidiary

self-disciplined fair and just supply chain environment TELD has passed the certification for its information security

continuously strengthening strategic partnerships to jointly management system.address market challenges and achieve mutual benefits.Key Performance

During the reporting period 100% of suppliers signed the Integrity and Honesty Agreement with the Company.Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

HV) and Yilade.

109 110Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Information Security Strategy Information Security

Risk Management

The Company identifies and assesses information security risks and opportunities according to its internal risk management

processes. Risks are classified and managed at different levels and targeted response measures are developed based on actual Information Security Emergency Management

conditions to ensure the steady advancement of the Company in the digital transformation.The Company has established and improved the Emergency Response Plan for

Risk Type Risk Description Probability Impact Financial Response Measures Information Systems based on the actual construction of its information systems of Occurrence Duration Impact categorizing and classifying potential emergency incidents for management. It

enhances emergency response procedures with the emergency response working

Due to vulnerabilities in 1. Plan the security protection zones group responsible for implementing early warning and defense mechanisms for

network devices and for the Company’s data center information systems. The group promptly investigates the causes of information

server systems any configure corresponding security system failures and takes appropriate response measures.unauthorized external protection devices (firewalls IPS

access to the intrusion prevention systems) and The Company has developed an Emergency Drill Plan for Information Systems and

Company’s relevant Increased

Low Short-term operating develop comprehensive security

actively organizes various departments to conduct regular emergency drills. These

information resources protection strategies. drills help verify the effectiveness and rationality of the emergency response plan.could result in network costs Based on the outcomes of these drills the plan is refined to address any identified

attacks leading to an 2. Regularly upgrade firewalls and deficiencies continuously improving the ability of all employees to respond

inability to function system patches and replace firewall effectively to unexpected events.normally. equipment when necessary.Technological

Risk

Emergency Drill for Information Security Case Study

1. Increase investments to acquire

Contingency Plan

additional servers to ensure sufficient

Due to server issues

storage capacity.such as insufficient

disk space 2. Establish a UPS power supply and On June 12 2024 the Company organized emergency drills for server

Increased

unexpected power conduct regular testing to ensure hacking attacks large-scale virus (including malware) attacks and

Low Mid-term operating

outages and that servers operate properly in the database system failures. After the drills the Company evaluated the

costs

unauthorized access event of unexpected power outages. effectiveness of the exercises which mostly met the expected

data loss occurred in objectives. The existing emergency response plans are generally

3. Strengthen unauthorized access

the database. suitable and sufficient.controls and back up core data to

ensure data security and reliability.Information Security Responsibilities

Opportunity

Type Description Frequency

Impact

Duration Financial Impact and Rewards/Punishments

With the development of emerging The Company’s Network and Information Security Emergency Response Team

technologies the Company can leverage conducts regular inspections of the operation of the information security

Technical intelligent algorithms to conduct real-time management system and the allocation of resources. In recognition of

Opportunity monitoring and analysis of large amounts High Long-term Reduced operating costs outstanding performance rewards are given to teams and individuals who

of data thereby improving operational actively respond and perform excellently during emergencies. Conversely those

management efficiency. whose negligence leads to adverse effects or severe consequences will be held

accountable in accordance with relevant laws and regulations.

111 112Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Information Security Management Strategies

Information Security Management Objectives

Establish a Huawei Modular Data Center to support the stable operation of the Company’s core

Data Center and business systems.Security Protection

The Company’s Digital Center ensures the long-term stable operation of systems by establishing information security performance Platform In terms of cybersecurity establish protective products such as boundary security defenses

indicators while also focusing on customer experience with system usage. Based on the achievement of goals continual IPS intrusion prevention Internet behavior control WAF security protection VPN secure access

improvements and optimizations are made to ensure business continuity and data integrity. devices vulnerability scanning and access control systems.Each department organizes important data and protects it using a data encryption system.When collecting personal information obtain user consent and do not collect irrelevant

Key Performance Metrics Target Value Achievement Data Encryption information.Destroy important data when data storage devices are decommissioned or replaced.System security operation rate Number of days of system security operation per 100%

year/ total calendar days ≥ 99%

Conduct security inspections of key facilities such as core servers create inspection records

Safety Inspection

and ensure the stable operation of infrastructure.Data security Secure core data backup without loss of critical

business 100%

Case Study

Cybersecurity Awareness Training

On-time completion rate of digital

100%100%

key projects

During the reporting period the Company’s information

security personnel in the Laoshan area participated in

cybersecurity promotion training organized by the local

Cyberspace Administration and Public Security

Department. They learned about new-generation

System smooth operation rate 100% 100% ransomware and APT attack cases understood methods

of cyber virus attacks and enhanced the professional

skills of information security personnel.Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

HV) and Yilade.Key Performance

Information Security and Privacy Protection Measures During the reporting period the Company conducted a total of 7 training sessions on information security and

privacy protection with a total training duration of 503 hours covering 503 person-times participated.The Company has established and implemented comprehensive protection measures in data security and customer privacy

protection including data center construction security platform planning data encryption and backup. Regular training sessions

are organized for information security personnel to participate in internal and external training obtaining specialized certifications

in areas such as network information system management and project management thereby enhancing the overall capability of

Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

information security management. HV) and Yilade.

113 114Co-creating and

Sharing: Building a

Community of Mutual

Benefits and Shared

Employee Care and Benefits Employee Training and Development

Employee Recruitment and Interests Occupational Health and Safety

Key Performance

Percentage of contract Social insurance coverage Investment in employee Total training hours for

workers: rate: training: employees:

100% 100% 3.155million CNY 470149hours

115 116Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Employee Care and Benefits

Case Study

Welfare System Restricted Stock Incentive Plan

To create a warm and harmonious work atmosphere and enhance employees’ sense of belonging and happiness the Company In 2024 the Company convened its board meeting and general meeting of shareholders which reviewed and approved

has formulated the Management System for Employee Benefits demonstrating the Company’s care for employees from multiple the implementation of the 2024 restricted stock incentive plan. The Company set May 24 2024 as the grant date and

dimensions and the aim to build a supportive work environment filled with humanistic care. The Company not only offers granted 1.4 million restricted shares at a price of 9.88 CNY per share to 10 eligible incentive targets.competitive compensation and various benefits but also pays social insurance for all employees. It strictly implements the Employee

Attendance Management Regulations and fully ensures employees’ rest and physical and mental health. During the reporting

period the Company did not identify any incidents of forced labor.Welfare System

Case Study

Employee Stock Ownership Plan

Statutory Unified Special

Benefits Benefits Benefits

In 2024 the Company convened its board meeting and general meeting of shareholders which reviewed and approved

the implementation of the 2024 Employee Stock Ownership Plan. On November 18 2024 the Company transferredSocial insurance housing Festival gifts quarterly Housing allowance interview 7489000 shares of its stock to the special securities account of the “Qingdao Tgood Electric Co. Ltd. - 2024 Employeeprovident fund statutory benefits birthday gifts expense reimbursement Stock Ownership Plan” through non-trading transfer. The shares are held by a total of 326 holders and the transfer price

holidays wedding gifts health outstanding employee is 9.78 CNY per share.check-ups etc. rewards innovation and

patent rewards on-the-job

further education etc.Performance Appraisals

Employee Incentives

The Company implements performance assessment management regulations by using a blend of qualitative and quantitative

methods for regular objective evaluations of employees and mid-to-senior level management across multiple dimensions.Quantitative assessments are the primary basis for determining employee performance rewards. Based on the overall assessment

The Company deeply implements the value concept of “Focusing on value creators” and has established a profit-sharing system

results department heads offer employees tailored improvement suggestions.that spans the entire business chain centered around “value creation value accounting and value sharing”. By implementing

equity incentives and employee stock ownership plans the Company stimulates employee potential and innovation. This approach The Company highly values bilateral communication between employees and management integrating employee performance

aligns employee interests with the Company’s development fostering a mutually beneficial win-win situation between the feedback and complaints throughout the performance evaluation process to ensure fairness and impartiality in performance

Company and its employees. assessments thereby promoting mutual growth and sustainability between the Company and its employees.

117 118Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Key Performance Protection of the Rights and Interests of Female Employees Data in 2024 (Persons)

Number of women in management 586

During the reporting period 96.58% of employees in the Company and its subsidiaries regularly underwent

performance and career development assessments. Number of employees on maternity leave 138

Number of employees returning from maternity leave 95

Note: The data statistical scope includes the Company TELD Yichang TGOOD TEQ Chuan Kai Electric (a wholly-owned subsidiary of TGOOD HV)

and Yilade.Number of employees who took parental leave 106

Number of employees returning from parental leave 106

Protection of Female Employees

Note: The data statistical scope includes the Company TELD Yichang TGOOD TEQ Chuan Kai Electric (a wholly-owned subsidiary of TGOOD HV)

To better support female employees the Company follows legal requirements by offering maternity check-up leave and and Yilade.breastfeeding leave to registered pregnant employees. Additionally the Company provides an extra sixty days of maternity leave

with regular salary payments. To further accommodate female employees “Mother’s Rooms” have been established in both the

Laoshan and Jiaozhou parks and special seats for pregnant women are designated on company shuttles. The Company is

committed to continuously addressing the needs of female employees by optimizing internal policies and facilities ensuring a more Support for Employees in Difficulty

comfortable and convenient working environment for all female staff.The Company embraces the caring philosophy of “Caring forEmployees Sincere Service” and actively collaborates with the

Qingdao Special Warm Charity Foundation to organize

initiatives that support employees particularly those facing

difficulties. During the reporting period the Company and its

subsidiaries supported a total of 33 employees in need with a

financial investment of 430 thousand CNY.“Mother’s Rooms” at Lao Mountain and Jiaozhou Park

Connected with TGOOD Energized by Love

During the reporting period the Company hosted its fifth

collective wedding ceremony providing newlyweds with the

opportunity to celebrate this significant moment in their lives

surrounded by friends family and colleagues. This event not

only offered the newlyweds a sense of warmth and support

from the extended family but also highlighted the Company’s

commitment to fostering a culturally humanistic “home”

culture.Women’s Elegance Extraordinary Excellence | 2024 Women’s Day Event at TELD

119 120Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Employee Recruitment

and Interests

Equality and Diversity

The Company is committed to creating a fair and transparent recruitment environment by establishing relevant systems such as

the Human Resource Management Procedures Interviewer Handbook and TGOOD Recruitment Work White Paper to standardize the

recruitment process and ensure that every step is fair and reasonable. The Company requires interviewers to strictly adhere to the 3.59% 0.05%

code of conduct ensuring that every candidate is treated with respect. It explicitly prohibits interviewers from asking any 75.06% 24.94%

41.54%54.81%

discriminatory questions and firmly eliminates biases against candidates based on factors such as gender race or religious beliefs.During the resume screening stage the Company strictly follows standard procedures to verify resume information resolutely

preventing any instances of misinformation or violations. The Company ensures a strict prohibition of child labor practices and Below Bachelor’s

Employee

safeguards equal employment opportunities for all job seekers. Employee Female Number by Bachelor’s

Number by

Furthermore the Company is well aware of the importance of the interviewers’ professional competence in selecting high-quality Male Educational Gender Master’s

talent. The Company has launched a variety of training courses through the online platform “Interviewer Cloud Classroom” Level

covering multiple aspects such as talent management resume analysis interview skills and candidate evaluation. This initiative Doctoral Degree

helps interviewers continuously enhance their professional competencies and better fulfill their recruitment responsibilities.

2.98%

Key Performance 11.42% 46.77%

0.01%

99.99%

Under 30 (excluding 30)

30-40 (including 30

As of the end of the reporting period the total number of employees of the Company and its subsidiaries is Employee excluding 40) Employee Chinese mainland

9627 100 Number by Age 40-50 (including 40 Number by overseas with a labor contract signing rate of %.

excluding 50) Region

50 and above years old

The number of employees with disabilities is 21 and the number of employees from minority ethnic groups 38.83%

is 164.Note: The data statistical scope includes the Company TELD Yichang TGOOD TEQ Chuan Kai Electric (a wholly-owned subsidiary of TGOOD HV)

and Yilade.

121 122Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Compliant Employment Key Performance

The Company adheres to an open and inclusive talent philosophy fully promoting diversity strategies in its recruitment efforts. It

is committed to creating a diverse and vibrant talent ecosystem. The Company places great emphasis on the identification and During the reporting period the Company and its subsidiaries hired 2455 new employees including: 477

development of internal talent. Through mechanisms such as internal promotions and job rotation it creates opportunities for

employee growth while stimulating their intrinsic potential. people from campus recruitment and 1978 people from social recruitment.In terms of external recruitment the Company employs multiple channels including designated recruitment websites employee

referrals talent recruitment fairs and campus recruitment events to publish job openings. It conducts talent assessments for both

campus and social recruitment in accordance with regulations ensuring the selection of the best candidates. At the same time

the Company leverages a digital talent management system to efficiently screen resumes and accurately assess candidates. This

system ensures that every individual who joins TGOOD is placed in the right position. Note: The data statistical scope includes the Company TELD Yichang TGOOD TEQ and Chuan Kai Electric (a wholly-owned subsidiary of TGOOD

HV) and Yilade.Case Study

TGOOD Establishes Employment Practice Bases with Several Universities

Broadening Employee Communication Channels

The Company adheres to the philosophy of talent-driven development and collaborative innovation. It has established

partnerships with several renowned universities including Shandong University Shandong University of Science and

Technology China University of Petroleum Dalian Polytechnic University and Qingdao University of Science and

Technology to create employment practice bases for university students. During the reporting period the Company Democratic Governance

actively conducted over 50 on-campus presentations and other school-enterprise cooperation projects successfully

recruiting more than 200 outstanding graduates and providing a wide range of development opportunities for The Company consistently upholds the core values of legality reasonableness and fairness. It has established and improved the

university students. Employee Congress System and is committed to enhancing the internal governance structure while promoting democratic

management processes. The Company regularly holds employee representative meetings to incorporate regulations and major

decision-making that involve employees’ vital interests into a democratic decision-making process. It widely solicits employee

opinions and fully safeguards employees’ rights to be informed participate and supervise further enhancing the scientific nature

and transparency of the Company’s decisions and strengthening employees’ sense of identity and belonging to the enterprise.Case Study

Employee Congress

On March 29 2024 the Company convened the first session of the 20th Employee Congress with 70 employee

representatives participating. Upholding a responsible attitude towards the Company’s development and all employees

they engaged in in-depth discussions on key topics and actively shared their insights.

123 124Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Key Performance Case Study

Cultural Development Discussion Meeting at the Lao Mountain Industrial Park

As of the end of the reporting period the Company’s employee representative assembly approved 3 projects On April 15 2024 the Company’s Laoshan Industrial Park organized a series of cultural construction discussion meetings

100 and open-hearted feedback sessions for all employees. Based on the cultural construction aspect the opinions and and the proportion of union members among active employees is %. needs of the employee group were gathered. The Party Building Culture Office formulated an effective action report

based on the meeting results providing an important reference for the development of corporate culture.Note: The data statistical scope includes the Company TELD Yichang TGOOD TEQ Chuan Kai Electric (a wholly-owned subsidiary of TGOOD HV)

and Yilade.Diverse Communication ChannelsThe Company has established various communication channels to ensure transparency and openness in its operations. A “TGOODHeart-To-Heart Communication” Party Representative Work Studio has been set up in the headquarters office building along with

a democratic bulletin board and multiple functional areas to promote transparency in factory operations. Employees can submit

real-name feedback online through platforms like the “Voice of Appeals” and the “Heartfelt Echo Wall”. Additionally offline

suggestions can be made anonymously using small stickers. The union chairman acting as the Party representative holds a

reception day for Party representatives on the 28th of each month and organizes occasional sunshine complaint sessions giving

employees the opportunity to express their concerns face-to-face and ensuring comprehensive collection of employee feedback

and recommendations.The Company has established a robust closed-loop system for handling employees’ constructive suggestions. Employee

recommendations are regularly collected categorized and reviewed in collaboration with relevant departments for professional

evaluation and effective feedback. For suggestions with practical value the Company will create a detailed plan for implementation

Party Representative Work Studio

and provide regular updates on progress. For suggestions that cannot be implemented immediately the Company will also provide

sufficient explanations and constructive responses. This approach not only enhances the Company’s management practices but

also fosters a stronger sense of engagement and ownership among employees. Going forward the Company will continue refining

the suggestion management process to further inspire employee contributions and jointly drive sustainable development.

125 126Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Employee Training and

Employee Satisfaction Surveys

Development

To better understand employee needs and improve their work experience and satisfaction the Company regularly conducts

satisfaction surveys across various departments. These surveys cover key areas such as cultural care welfare benefits dining and

leisure preferences training needs and business satisfaction. By organizing frequent feedback collection activities the Company

ensures that all employees feel valued and respected fostering a positive and vibrant work environment.Talent Development

The Company follows the talent philosophy of “precise recruitment and empowering growth” ensuring that the principles of

fairness justice and transparency are central to the promotion process. To support this it has implemented the Employee Position

Key Performance Promotion Management System which establishes clear and scientific standards for job levels and promotion criteria. The Company

has implemented a dual-channel promotion system for both management and professional roles offering clear career

development paths tailored to employees with different areas of expertise. This system allows employees to choose their

As of the end of the reporting period the employee satisfaction rate for the Company and its subsidiaries was 100%. development direction based on their strengths and interests.Note: The data statistical scope includes the Company TELD Yichang TGOOD Yilade TEQ and Chuan Kai Electric (a wholly-owned subsidiary of

TGOOD HV). Employee Training

The Company has developed the External Training Management Measures for TGOOD Group Employees and the Training

Management Standards to establish a comprehensive and diversified multi-level training system. By leveraging both internal and

Labor Dispute Management external training resources the Company provides a variety of learning opportunities including annual training sessions

onboarding programs for new employees and external training programs. These initiatives help continuously improve employees’

overall quality and business skills laying a foundation of talents for the long-term development of the Company.To maintain the stable operation of the human resource system the Company has established the Employee Resignation

Management Standards to continuously improve the employee departure process avoid losses to the Company due to

resignations and effectively mitigate labor risks. Key Performance

In practice the dedicated legal personnel of the Company’s Legal and Risk Control Center are primarily responsible for managing

labor risks. Relevant departments work together to form an incident-handling team which conducts thorough investigations and During the reporting period the total training investment by the Company and its subsidiaries amounted to

communications in response to labor dispute events. In cases of non-compliance with management standards prompt

rectifications and corrective actions are taken to address the issues. 3.155 million CNY.Note: The data statistical scope includes the Company TELD Yichang TGOOD TEQ Chuan Kai Electric (a wholly-owned subsidiary of TGOOD HV)

and Yilade.Tiered Training

Guided by the principle of “focusing on strategy and supporting business” the Company has developed its training initiatives by

setting up clear training pathways including management professional and general tracks each offering a rich variety of training

content. This approach has resulted in a comprehensive and well-structured tiered training system designed to enhance

employees’ overall quality and professional skills. In addition the Company has established a comprehensive training management

and evaluation system covering needs analysis instructor management course management internal and external training

management mentoring systems and learning platform management to ensure the quality and effectiveness of training content.This aims to enhance the overall capabilities of employees while focusing on the long-term development of both employees and

the enterprise.

127 128Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Talent Development Program

Key Performance

Focus on Strategy to Support Business

Management Line - Leadership Professional Line - Key Team Building General Line - Enhancement of Pipeline Development Overall Employee Quality

Senior Recruitment of New Navigational Strategic Key Marketing Project Technical Engineering New Undergraduate - Employees - Blueprint

Management Plan Orientation Positions Manager Manager Manager Employees Wild Goose Program During the reporting period the Company and subsidiaries conducted a total of 1693 training sessions

Emerging Sailing Set Change Execute Industrial CraftsmanProduction Shift Industrial All Internal External TGOOD External

Leaders Plan Goals Roles Effectively Workers Frontline Leader Workers Employees Training Training Classroom Empowerment with a total training duration of 470149 hours and 83165 person-times participated.Resource

Support Instructor Course Mentor Learning Platform

Implementation of Trainer Course Internal/External

Institutional Safeguards Management Management Training Management Mentorship

Learning Platform

Management

Focus on building a key core talent team to achieve the overall improvement of all employees’ quality and capabilities

Note: The data statistical scope includes the Company TELD Yichang TGOOD TEQ Chuan Kai Electric (a wholly-owned subsidiary of TGOOD HV)

and Yilade.Case Study

Training Newcomers in Marketing

Faculty Team Development

To build an excellent marketing system the Company has designed a comprehensive training program for new

marketing personnel which includes phased mentorship and training sessions. This program covers essential areas

such as market operations integrated business smart manufacturing and marketing skills. It incorporates practical The Company effectively integrates internal talent resources and formulates the Internal Lecturer Management System of TGOOD

activities such as simulated presentations to assess and evaluate the trainees’ progress. The systematic approach is Group. It assesses qualifications based on professional criteria and builds a strong faculty system with comprehensive capabilities.aimed at quickly enhancing new employees’ understanding of the Company’s products business and industry in the The internal training plan is developed according to actual training needs and learning courses are created. Annual evaluations

short term. In the long term it supports their rapid growth and development in the marketing field. serve as the basis for rewards and penalties for internal trainers effectively ensuring the quality of internal training.Key Performance

Case Study As of the end of the reporting period the Company had a total of 91 internal trainers and offered 122

Enhancing Product Manager Skills

training courses.The Company aims to enhance capabilities improve performance and elevate awareness as training objectives

primarily targeting product line managers and production supervisors. A comprehensive capability enhancement

program for product lines is developed through specialized courses business practices and coaching which

stimulates individual expertise to achieve training goals.Note: The data statistical scope includes the Company TELD Yichang TGOOD TEQ Chuan Kai Electric (a wholly-owned subsidiary of TGOOD HV)

and Yilade.

129 130Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Digital Learning Platform Occupational Health and SafetyThe Company keeps pace with the digital wave and is dedicated to building the “TGOOD Learning“ platform providing employeeswith a comprehensive and personalized learning experience. The learning platform encompasses five key specialty college sectors:

general capabilities intelligent manufacturing professional training leadership breakthroughs and excellence in development. It

integrates over 1500 high-quality training resources from both internal and external sources creating a comprehensive Key Performance

closed-loop learning ecosystem that spans course design resource management and learning assessment. Through a hierarchical

management model across departments and leveraging information technology the Company meets the diverse learning needs

of all employees creating a positive and engaging learning atmosphere that supports employee growth and the high-quality The investment in work safety The rectification rate for The duration of safety

development of the enterprise. amounted to hidden dangers reached training totaled

The Company has established a Learning Platform Operations Committee to manage the online learning platform and formulated

the TGOOD Training Operations Officer Management Mechanism. After selection and certification a team of internally qualified 16.141 million CNY. 100%. 422096 hours.“Training Operations Officers” with comprehensive capabilities has been formed to organize and plan online training. The team

continuously optimizes the employee online learning experience and implements a points-based management system for training

plans and implementation which serves as the basis for the appointment and rewards of the Operations Officers.The Company consistently views occupational health and safety as a critical factor for corporate development. In light of the

unique characteristics of the high-voltage power industry a comprehensive set of safety operating procedures and emergency

response mechanisms has been established to ensure the safety of employees and minimize risks. The Company focuses on the

monitoring and protection of employees’ occupational health effectively ensuring their physical and mental well-being and

striving to achieve a harmonious unity between work safety and corporate development.Establishing a Sound Health and Safety System

Management System

The Company strictly complies with the Law of the People's Republic of China on Work Safety the Production Safety Regulations in

“TGOOD Study” Learning Platform Shandong Province and other laws regulations and local provisions. It has developed an HSE Manual and a series of procedural

documents that cover all aspects of occupational health and safety management within the Company. The Company’s Safety

Supervision Department has established a Work Safety Committee to lead and coordinate all work related to work safety ensuring

the overall safety of employees’ lives and the protection of company assets.Key Performance

Main Procedural Document for Occupational Health and Work Safety in the Company

As of the end of the reporting period the Company’s online learning platform offered a total of 996 courses

1694 Management Procedures for Occupational Disease Management Procedures for Labor Protection Equipmentencompassing a total of knowledge points. The total learning duration was approximately Prevention and Control

15157.88 hours with an average learning duration per person of 7.86 hours and the platform’s Control Procedures for Occupational Disease Prevention Management Procedures for Safe and Environmental Lifting

91.38 Facilities in New Renovated and Expanded Projects and Transportationactivity rate was %.

Electricity Safety Management Procedures Fire Safety Management Procedures

Note: The data statistical scope includes the Company TELD Yichang TGOOD TEQ and Chuan Kai Electric (a wholly-owned subsidiary of TGOOD Crane Operation Safety Management Procedures Management Procedures for Accidents Incidents and

HV) and Yilade. Near-Misses

131 132Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

To further enhance the management level of occupational health and work safety the Company and its subsidiaries actively carry

out third-party qualification certification work conducting a comprehensive audit and evaluation of the Company’s occupational Impact Risk and Opportunity Identification

health and safety management system. By introducing the international standard ISO 45001 Occupational Health and Safety

Management System certification the Company and several of its subsidiaries have successfully obtained the relevant certification

marking the Company’s achievement of internationally advanced levels in occupational health and safety management. It also The Company strictly adheres to relevant national laws and regulations actively conducting systematic risk identification and

highlights the Company’s ability to effectively identify control and reduce occupational health and safety risks. assessment. A comprehensive review of the physical work environment occupational hazards and behavioral risks has been

carried out and a series of targeted preventive measures have been developed. At the same time the Company actively seizes

new opportunities in industry development leveraging technological innovation and equipment upgrades to optimize the working

environment reduce occupational health risks and enhance employee safety awareness and emergency response capabilities.Risk

Category Description Likelihood of Impact Financial Occurrence Duration Impact Response Measures

Enhance the collection and evaluation

of external information regularly

assess the applicability and changes

he Company may not have

in laws and regulations to ensure that

timely awareness of and

the Company always complies with

adaptation to changes in

the latest requirements; implement

the latest laws regulations Increased

the enforcement of laws regulations

Legal Risk and occupational health Medium Short-term compliance

and standards to ensure that

and safety standards costs

employees are aware of and comply

leading to compliance

with relevant provisions in their work;

issues and potential legal

engage legal advisors to conduct

risks.compliance reviews of the Company’s

rules and regulations identify issues

and address them promptly.The Company’s existing

processes and production

equipment may pose a Develop and implement technical

Technological potential threat to Cost breakthrough and equipment

Medium Short-term

Risk employee health or lead to increase transformation plans based on the

safety incidents due to current level of technology.design flaws aging wear

or improper operation.To ensure the orderly

operation of the occupational

Responsibility Fulfillment health and safety management Enhance internal management

system the Company needs to Decrease in systems to improve production

invest significant resources market efficiency and product quality;

Market Risk Medium Long-term

The Company always prioritizes safety in production establishing a comprehensive work safety responsibility system. It has which indirectly increases share and internally absorb additional costs to

formulated a Safety Production Responsibility List to clarify the safety responsibilities of management personnel and employees at product costs and may affect revenue enhance the Company’s competitive

all levels. By signing the Safety Production Responsibility Agreement the Company implements safety management objectives and the pricing and advantage.closely aligns the achievement of these objectives with the reward and punishment mechanism. This ensures that employees competitiveness of the

understand and fulfill their respective primary responsibilities for safety in production creating a network for occupational health Company’s products.and safety management that involves all employees.

133 134Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Opportunities Enhancement of Risk and Opportunity Management

Category Description Likelihood of Impact Financial Impact

Occurrence Duration

The Company has established the Management Procedures for Hazard Identification Risk Assessment and Control Measures and

The Company strictly adheres to laws designates the General Office as the managing entity. This initiative helps systemically control occupational health and safety risks

Compliance regulations and rules effectively clarify the processes and key points for risk identification and assessment and formulate targeted response strategies to enhance

with Legal and ensuring the occupational health and Increase in market share the Company’s ability to manage occupational health and safety risks.Regulatory safety of employees establishing a High Long-term and revenue

Requirements positive social image and enhancing

the Company’s visibility.By introducing new production

Development

equipment and improving processes

of New

the Company can enhance its

Technologies Medium Long-term Decreased operating costs Risk Identification

technological level and reduce

and Processes

occupational health and safety risks.During the risk identification phase the Company comprehensively considers the characteristics and potential hazards

of various activities personnel facilities and workplaces and specifically identifies potential sources of danger by

integrating the analysis process of “three tenses three states and seven aspects”.Three tenses: past present future;

Three states: normal state abnormal state emergency state;

Seven aspects: mechanical energy electrical energy thermal energy chemical energy radiative energy

biological factors and ergonomics factors.Risk Assessment

During the risk assessment phase the Company uses a combination of qualitative and semi-quantitative evaluations.This approach involves quantifying the likelihood of accidents the frequency and severity of exposure to hazardous

environments the potential consequences of accidents and categorizing the associated risk levels. Additionally relevant

qualitative factors including social and legal considerations are integrated to provide a comprehensive assessment of

occupational health and safety risks. Based on this evaluation the Company develops tiered and categorized response

strategies.

135 136Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Implementing Occupational Health Management Case StudyDetection of Occupational Disease Hazard Factors at TGOOD HV

In June 2024 the TGOOD HV commissioned a testing

Occupational Disease Detection agency to conduct on-site testing and measurement of

occupational disease hazard factors in the workplace.According to the test TGOOD HV’s chemical and

In accordance with the Law of the People's Republic of China on Prevention and Control of Occupational Diseases and relevant laws physical hazardous factors have complied with relevant

and regulations the Company regularly conducts monitoring for occupational disease hazard factors. By engaging a third-party regulatory requirements.testing organization to conduct comprehensive assessments of the workplace the Company evaluates the safety of the employee

work environment promptly identifies potential health risks and ensures that the Company’s various indicators comply with

national health standards.Key Performance

Occupational Disease Prevention

During the reporting period the Company and its subsidiaries including TGOOD HV Yichang TGOOD and Chuan Kai

Electric engaged third-party testing companies to conduct assessments of occupational disease hazard factors. Based The Company is deeply concerned about the occupational health and safety of its employees and regularly organizes occupational

on the test results and professional recommendations the Company and its subsidiaries timely adjusted and formulated disease health check activities. Conduct occupational health examinations for workers exposed to occupational disease hazards

a series of rectification and preventive measures effectively reducing the risk of occupational diseases. through professional medical institutions establish monitoring files for employees’ occupational hazards promptly identify

potential occupational disease risks and effectively prevent and control the occurrence of occupational diseases.Case Study

Employee Occupational Health Examination

In November 2024 the Company commissioned a testing

Case Study agency to conduct occupational health examinations for

Detection of Occupational Disease Hazard Factors at TGOOD

80 employees. Additionally TGOOD HV commissioned

Jiaozhou Min’an Hospital to carry out occupational health

checks for 405 employees with no suspected

In June 2024 the Company commissioned a testing occupational diseases or contraindications detected.agency to conduct on-site testing and measurement

of occupational disease hazard factors. According to

the test the Company has complied with relevant

regulations regarding dust chemical toxins noise

and other factors.In addition to occupational health examinations the Company and its subsidiaries have implemented a series of comprehensive

occupational disease protection measures including the distribution of personal protection equipment and the establishment of

occupational disease notification cards to vigorously build a multi-faceted and multi-level occupational disease protection system

ensuring the occupational health and safety of employees.

137 138Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Case Study

2024 Emergency Evacuation Drill at Chuan Kai ElectricIn July 2024 Chuan Kai Electric organized an emergency evacuation drill themed “Everyone Speaks of Safety EveryoneKnows Emergency Response - Smooth Life Channels”. All departments worked closely together and participated

actively allowing all employees to complete the emergency drill in an orderly manner and achieve the expected results

of the exercise.Strengthening Work Safety Management

Identification of Hidden Hazards

To enhance the effectiveness of work safety management the Company regularly conducts safety inspections and hazard

assessments through various methods including routine and special checks. This process is institutionalized to systematically

identify potential safety risks. Identified hazards are recorded and categorized and based on their severity rectification plans are

developed and corrective actions are taken. This ensures that all safety hazards are effectively controlled and eliminated

safeguarding both safe production and employee health.Safety Accident Handling

Emergency Management

The Company places a high priority on the management of work safety accidents and has established a comprehensive work safety

accident management system. It has formulated management regulations such as the Safety Production Accident Management

To effectively address and prevent various potential work safety accidents the Company and its subsidiaries including TGOOD HV System and the Management Procedures for Handling Accidents Incidents and Near Misses. Responsibilities have been assigned to

and Yichang TGOOD have developed an Emergency Response Plan for Production Accidents. This plan details the emergency supervisors and relevant departments to effectively respond to various work safety accidents. In-depth analyses of accident causes

response procedures division of responsibilities handling measures and subsequent recovery efforts in the event of an accident are conducted and corrective and preventive measures are developed to ensure the safety of employees and the protection of

ensuring that response actions can be carried out swiftly and orderly in emergencies. At the same time the Company actively corporate assets.organizes emergency drills to test the effectiveness of response plans by simulating accident scenarios training employees’

emergency response capabilities and continuously improving the emergency management level for work safety incidents.Key Performance Safety Training

140 The Company sees employee safety training as a crucial part of daily management. An annual Occupational Health and Safety During the reporting period the Company conducted safety emergency drills. Training Plan is established to systematically provide training content allowing employees to acquire essential safety knowledge

and operational skills. This enhances their self-protection abilities reduces workplace safety risks and provides a strong foundation

for the Company’s stable development.

139 140Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Key Performance Unit 2024

Case Study

Safety Production Month

Total investment in safety training 10000 CNY 30.84To actively respond to the theme of the 23rd National Safety Production Month “Everyone Speaks of Safety EveryoneKnows Emergency Response - Smooth Life Channels” and to strengthen employees’ safety awareness in June 2024

the Company promoted safety through activities such as work safety promotional posters hazard identification and

rectification viewing safety evacuation videos and safety games. These initiatives helped employees deeply understand Number of safety training sessions Sessions 1418

the importance of safety and prevent work safety accidents.Number of person-times participated

Person-times 56551

in safety training

Total training duration Hour 422096

Number of participants in safety training Person 9712

Note: The data statistics scope includes the Company TGOOD HV TELD Yichang TGOOD and Chuan Kai Electric (a wholly-owned subsidiary of

TGOOD HV).Case Study

Training for Safety Management Personnel

Stakeholder Management

In November 2024 the Company actively responded to

relevant requirements by enhancing the safety management

awareness of its primary responsible personnel and work The Company prioritizes its own work safety while strictly controlling the safety supervision of contractors and construction parties.safety management staff. It invited safety management It has established the Safety Management System for External Construction Units and the Management Procedures for Relevant

experts from Sichuan Province to conduct training on Safety Stakeholders that May Have an Impact clarifying the safety responsibilities and supervision measures for relevant stakeholders.Laws and Regulations and Typical Accident Cases as well as Additionally through efforts such as signing of the HSE Agreement on-site inspections and hazard identification the Company

On-Site Safety Management Knowledge. The training result comprehensively enhances its occupational health and safety management level of relevant stakeholders.was assessed through theoretical examinations aiming to

improve the safety management level of the management

team.

141 142Exceptional Governance

Innovating a New Model

of Non-Public Sector

Party Building

Party Building Driving Strengthening Risk Practicing Business

Development Control Ethics

Corporate Governance Enhancing Investor Advancing Digital

Compliance Relations Management Transformation

143 144Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Party Building Driving Forging a Community of Shared Future

Development

The Company has established the “Wall of Original Aspirations” and “Tree of Dreams” showcasing 100 selected party members’

TGOOD fully embraces the spirit of General Secretary Xi Jinping on party-building in non-public enterprises actively promoting original aspirations each year integrating communist ideals with the growth of the Company and its employees. Every two years

the integration of party and business and driving innovation. The Company has pioneered a new “Ecological Party Building” model a selection of “Party Member Craftsmen” is conducted highlighting 50 exemplary cases each time to reinforce the pioneering and

for non-public enterprises. By establishing an ecological party-building system based on the principles of “Community with a exemplary role of party members. Regularly the Company holds its “Special Three Meetings”: a quarterly senior leadershipshared future altruistic philosophy and the happiness of Party members” the Company has successfully integrated party-building democratic life meeting a monthly mid-level reflection meeting and occasional employee “Sunshine Criticism” sessions

with corporate culture and development creating a “Red Engine” that propels the Company’s growth. encouraging frequent self-criticism and constructive feedback to ensure party members remain aligned with their original ideals

and are ready to embrace their responsibilities.The core philosophy of TGOOD’s ecological party-building is that “Party building should not be a cost to the Company but asource of profit; it should not be a lofty ideal but the solid root anchoring the Company”. The Company follows the “threepriorities” principle: prioritizing Party members in recruitment in cadre selection and in overcoming challenges. This approach hascultivated a highly cohesive strong high-caliber high-performance and responsible Party member team known for its “wolfspirit” which plays a key role in the enterprise development. Cultivating an Altruistic Philosophy

In June 2017 TGOOD’s ecological party-building case was

selected and included in the Tsinghua University Teaching The Company has embedded the principle of “altruism” in every party member’s mindset consistently adhering to the philosophy

Case Library marking a pioneering achievement in both the that party members serve the people employees serve customers and the enterprise contributes to society. The Company carries

non-public and national party-building fields. This case was out a themed practice activity called “Pairing Three People Doing Three Acts of Altruism” where one party member mentors two

also added to the Party Building Case Library of the Listed employees to perform three acts of kindness each year. This initiative nurtures an altruistic ecosystem that promotes mutual

Companies Association and the Harvard University Case warmth personal growth customer satisfaction business development and social benefit.Library. The Company’s Party Committee has receivednumerous accolades including “Advanced Grassroots PartyOrganization of Shandong Province” “Demonstration Site forParty Building in Two New Organizations of Shandong 数Province” “Qilu Pioneer Party Organization in Non-Public 字 Fostering the Well-being of Party MembersEnterprises of Shandong Province” “Advanced Grassroots 能Party Organization in Non-Public Economic Organizations of 源Qingdao” and “First Batch of Five-Star Party Organizations inQingdao”. In 2023 it was recognized as the “First Classroom The Company’s Party Committee actively creates platforms to provide comprehensive incentive policies for party members andfor Party Building in Municipal Direct Departments of employees. The “Party Member Innovation Wall” is established to showcase 20 outstanding innovation projects annually allowingQingdao”. every employee to fully utilize their strengths. The Company has also implemented an employee stock ownership plan enabling

特来缘 outstanding party members and employees to share in the Company’s growth and success. Furthermore the Company has

established a Party Members’ Public Welfare Association a Gratitude Fund and a “Filial Piety Salary” system where employees

who have worked for one year can receive a “Filial Piety Salary” for their parents. These initiatives foster harmony and mutual

benefits in employees’ families careers and social lives.

145 146Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Party Building Honors Integration of Party Building and Business Operations

The Company has closely integrated party leadership with business management ensuring that the Party’s ideals guidelines and

policies serve as the internal driving force for company decision-making and execution. This alignment has enabled the

synchronized advancement of both party building and corporate development enhancing the Company’s overall competitiveness

and sustainable development capacity.Party Members Leading the Full-Process Implementation of South Grid’s First Three-Layer Case Study

Integrated Station

In the technical R&D phase a multi-layer station innovation team led by the Party branch secretary played a pivotal

role in the first-unit project. This team not only ensured the high-quality R&D design and manufacturing of the

product but also effectively controlled process costs creating a high profit margin for the first unit. When EPC

construction capacity was insufficient the team took the initiative to manage on-site construction and provide

technical guidance ensuring the project was successfully executed.Key Performance

Successfully managed the full process of product R&D

and manufacturing with the project delivered on

schedule.Leveraged technical innovation and product structure

improvements to significantly increase the project’s

gross margin.Party Building Practices Case Study

Party Member Team Leading the Research by “Turning Challenges into Opportunities”

The Company’s Party Committee has harnessed its strengths to innovate its party-building model implementing a strategicapproach with four key pillars: “Consolidating the grassroots organizational foundation promoting business integration The Value Operations Party Branch fully leveraged the expertise of its party members establishing an annual “Turningestablishing party member responsibility and strengthening innovation and development”. These initiatives have effectively driven Challenges into Opportunities” research initiative. By using a competitive “research leaderboard” approach the

the Company’s high-quality growth. Company empowered outstanding party members to lead teams in solving complex business challenges.Key Performance

Key Performance

Eight cases including Optimization of Design and

Resource Allocation for Prefabricated Substation

Self-Manufactured Equipment successfully transformed

challenges into opportunities. The results and materials

During the reporting period the Company held 2 Party Committee meetings. with significant market value have been added to the

Market Support Center’s Shared Repository.

147 148Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Corporate Governance Compliance The Board of Directors

The Company strictly adheres to the Code of Corporate Governance for Listed Companies the Company Law of the People's Republic During the reporting period the Company’s Board of Directors consisted of 9 members including 3 independent directors. The

of China and other relevant laws and regulations. It has established a core governance framework based on its Articles of size and composition of the board comply with relevant laws regulations and the provisions of the Articles of Association. The

Association integrating key systems such as the Rules of Procedure for the Board of Directors and the working rules of the Board Company’s directors strictly adhere to laws regulations the Articles of Association and internal rules and regulations. They attend

Committees. This framework comprises a governance structure formed by the General Meeting of Shareholders the Board of General Meeting of Shareholders and meetings of the Board of Directors on time actively participate in the decision-making

Directors and the management team committed to continuously enhancing governance effectiveness and promoting the process for major company matters and continuously enhance their professional capabilities by regularly attending training

Company’s standardized operations. programs fulfilling their duties and obligations with diligence and responsibility.Independent directors in accordance with the System of Work of Independent Directors fully leverage their independence and

professional expertise to make independent judgments and deliberations on significant matters of the Company providing

constructive opinions and suggestions. During the reporting period independent directors actively participated in meetings of the

The General Meeting of Shareholders Board of Directors and specialized committee meetings expressing independent opinions on key topics such as related party

transactions profit distribution and the appointment and dismissal of senior management. They effectively supervised the

Company’s operations protected the interests of minority shareholders and ensured the fairness transparency and scientific

As the highest governing body of the Company the General Meeting of Shareholders strictly convenes in accordance with the nature of the decisions of the Board of Directors.relevant regulations such as the Articles of Association and the Rules of Procedure for General Meetings of Shareholders making

informed decisions on matters related to the Company in a lawful and compliant manner. The Company places great importance

on the protection of shareholder rights particularly the legitimate rights of minority shareholders. To this end the Company’s Key Performance

General Meeting of Shareholders provides a comprehensive online voting option to ensure that shareholders can conveniently

exercise their voting rights.During the reporting period the Company held a total of 5 meetings of the Board of Directors and approved

30 resolutions.

Key Performance

2 1 The Company views the diversification of the Board of Directors as a key factor in promoting balanced and healthy corporate During the reporting period the Company held a total of General Meetings of Shareholders including development and enhancing core competitiveness. The board members show a diverse distribution in terms of gender age

22 professional background and educational level bringing diverse perspectives and extensive industry experience to the Company extraordinary General Meeting during which proposals were approved. thereby providing a wealth of knowledge resources and professional insights for decision-making. A diverse Board of Directors can

comprehensively assess market trends industry dynamics and potential risks enabling the formulation of more forward-looking

and adaptive strategic plans thereby enhancing corporate governance and decision-making efficiency and ensuring the

Company’s stable operation.

149 150Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

8 (89%) 1 (11%) 6 (67%) 3 (33%) Strengthening Risk Control

Board Male Board 40-50 years old

Members by Members by

Gender Female Age 50-60 years old Compliance Management

The Company consistently adheres to a compliance-first management philosophy establishing a rigorous compliance management

system that permeates the entire governance process. This ensures that all business activities of the Company comply with laws

regulations industry standards and internal rules and regulations. At the same time the Company actively conducts compliance

1 (11%) training to strengthen employees’ awareness of compliance prevent compliance risks and operational risks and ensure the

2 (22%) 2 (22%) 5 (56%) standardization of corporate behavior.

1(11%)

Electrical-related

Board Below Bachelor’s

1 (11%) Board Members Accounting

Members by Bachelor’s by Professional

Education Law

Master’s Background Case StudyLevel Finance Compliance Training

Doctorate

Others

4(45%)1(11%)1(11%)

During the reporting period the Company in

collaboration with the continuous supervision

institution China Merchants Securities conducted

training for directors supervisors and senior

management. The Company’s directors supervisors

To enhance decision-making efficiency and management standards the Board of Directors has established four Board and relevant staff actively participated in the training

Committees: the Audit Committee the Strategy Committee the Nomination Committee and the Remuneration and Assessment resulting in a positive response.Committee. Each committee performs its designated functions and collaborates effectively to provide strong support for the

Company’s stable development and the maximization of shareholder interests.Key Performance

Risk Management

During the reporting period the Company held a total of 9 meetings of the Board Committees including:

4 1 4 In the strategic deployment of risk management the Company has established a comprehensive and robust risk management meetings of the meetings of the meetings of the Remuneration system. The Company has established a Risk Control Committee and a Decision-making Committee by formulating the Operational

Audit Committee; Nomination Committee; and Assessment Committee. Regulations for the Risk Control Committee and Decision-making Committee of TGOOD Group. Leveraging the expertise and

capabilities of committee members in financial legal auditing and operational fields the committees assess factors such as the

alignment of projects with the Company’s development strategy profit expectations changes in the market environment the

credit status of partners and compliance with laws and regulations. This enables a comprehensive and in-depth identification and

evaluation of the Company’s risks and their impact.

151 152Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Risk Audit

Case Study

Risk Management Training for the Marketing and Business Department

To enhance the risk management effectiveness of TGOOD the Internal Audit Department regularly conducts comprehensive audits

on key business segments such as smart manufacturing integrated services and marketing. During the reporting period the Audit

Department planned and executed dozens of audit projects providing hundreds of targeted recommendations. At the same time

the Company is committed to continuously tracking and rectifying issues identified in audits on a monthly basis to ensure the In October 2024 the Company’s Legal and Risk Control Center conducted legal training related to marketing

effective implementation of corrective measures and closed-loop management. enhancing the marketing team’s ability to manage legal risks during the consortium bidding process by explaining the

risk points and precautions involved in consortium bids.Risk Management Training

The Company places great importance on risk management training. Through a systematic training curriculum it comprehensively

enhances employees’ ability to identify and respond to various risks including market financial operational and legal risks. This

further strengthens employees’ risk awareness providing a solid guarantee for the Company’s stable operations.Case Study

Procurement Management Risk Management Training

In July 2024 the Company’s Legal and Risk Control Center conducted procurement management training explaining

contract signing requirements and basic legal litigation knowledge to relevant personnel strengthening the procurement

team’s risk awareness in contract management.Management of Related Party Transactions

The Company has established a comprehensive approval process and control mechanism for related party transactions effectively

strengthening the standardized management and effective supervision of related party transactions. The Related Party Transaction

Management System has been established which covers key aspects such as identification approval reporting and information

disclosure of related party transactions. Through this the Company ensures that each related party transaction strictly adheres to

the principles of market fairness justice and openness. This prevents any form of benefit transfer and effectively protects the

legitimate rights and interests of the Company and all shareholders especially minority shareholders from being infringed upon.

153 154Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Enhancing Investor Relations

Key Performance

Management During the reporting period

the Company held 2 Held 2 open investor Received 87 Conducted 383

Information Disclosure Management open days; forums; person-times of visits from interactive Q&A sessions

investors for research; with investors.The Company strictly complies with the Administrative Measures for Information Disclosure of Listed Companies and other relevant

laws and regulations and has established the Information Disclosure Management System to standardize matters related to

information disclosure. It clarifies the standards and procedures for information disclosure as well as the departments and

responsible personnel involved in investor relations. The Company strengthens the supervision and control of the information

disclosure process to ensure that disclosures are true accurate complete and timely thereby enhancing the transparency and Case Study

quality of information disclosure. Investor Open Days

The Company values the management of insider information confidentiality and has developed a series of regulatory documents

including the Insider Information Management System. It continuously strengthens the confidentiality of insider information In May 2024 TGOOD successfully held an Investor Open Day event attracting active participation from numerous

maintains the principle of fair information disclosure and ensures that the processes of transmitting reviewing and disclosing well-known investment institutions and individual investors. During the event investors visited the Company’s New

non-public information are legal and compliant thereby preventing insider trading. The Company’s Board of Directors is Energy Eco-Technology Museum to gain an in-depth understanding of TGOOD’s cutting-edge technologies and

responsible for the management of insider information ensuring that the records of individuals privy to insider information are innovative achievements in the field of new energy. Subsequently investors engaged in in-depth discussions with the

authentic accurate and complete with the chairman being the primary responsible person. Company’s executive team exploring core topics such as corporate strategy business development and future

planning. This built an efficient communication bridge between both parties further enhancing investors’ confidence

and expectations towards the Company.Key Performance

During the reporting period the Company disclosed a total of 122 announcements including: 4 regular reports;

118 interim announcements;

The Company received an annual information disclosure assessment rating of Grade A and it has not been penalized

for violations related to information disclosure.Shareholder Returns

Investor Relations Management

The Company adheres to a shareholder value-centric approach upholding the concept of actively returning value to shareholders.It is committed to achieving sustainable and stable profitability through excellent operational management and robust business

development. The Company while pursuing performance growth comprehensively considers its financial status market

To enhance communication with investors and improve corporate governance compliance the Company has established the

environment and future development plans to formulate a scientific and reasonable dividend strategy ensuring that shareholders

Investor Relations Management System. This system standardizes the principles functional departments and specific processes for

can genuinely benefit from the substantial returns from the Company’s growth.investor relations management. Through various channels such as performance briefings investor open days and IR interactive

platforms the Company builds a comprehensive communication bridge with investors ensuring timely and transparent information During the reporting period the Company implemented the 2023 Annual Profit Distribution Plan distributing a cash dividend of

dissemination. This effectively addresses investor concerns strengthens their trust and support for the Company and creates a 1.00 CNY (tax included) for every 10 shares to all shareholders. The total amount distributed was 104020337.30 CNY accounting

stable and harmonious external environment for the Company’s sustainability. for 21.18% of the net profit attributable to shareholders of the listed company in the consolidated financial statements.

155 156Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Practicing Business Ethics

Anti-Corruption Supervision and Management

The Company implements strict anti-corruption supervision and management measures

The Company strictly adheres to relevant laws regulations and business ethics. Based on and establishes the Red Line Management System of TGOOD Group and the Integrity and

the TGOOD Group Management Measures on Anti-Corruption and Supervision it has Professional Conduct Supervision and Management System. Through measures such as

established stringent rules and regulations against bribery and corruption along with an conducting integrity follow-ups and interviews and maintaining records of related

independent supervision mechanism. This framework clearly defines the scope and parties the Company strengthens the supervision and inspection of employees’ business

authority of supervisory work covering everything from anti-corruption to accountability conduct to ensure that various corrupt behaviors can be detected and addressed in a

for dereliction of duty and from internal supervision to integrity education ensuring timely manner. The Company adopts a zero-tolerance approach towards any violations of

comprehensive protection of the Company’s operational integrity and self-discipline. By economic boundaries and acts of corruption. Serious actions will be taken in accordance

establishing an independent audit supervision center the Company ensures the with laws and regulations including disciplinary measures financial compensation and

independence objectivity and fairness of its oversight work. Meanwhile it introduces a even referral to judicial authorities depending on the severity of the case. The aim is to

superior joint penalty mechanism to strengthen the awareness of joint responsibility fully safeguard the healthy operation of the enterprise.further consolidating the integrity red line mechanism thus providing a solid guarantee for

the Company’s steady development. In addition the Company has signed the Integrity Self-Discipline Agreement with key

position employees to implement the business ethics and integrity standards that

employees should adhere to in their professional conduct. The Company has also signed

the Supplier Integrity Commitment Agreement with suppliers and other partners requiring

them to uphold the principle of integrity in business dealings and jointly create a fair and

equitable business environment.Anti-Corruption Goals

Establish a red-line deterrent mechanism where corruption is both

unthinkable and impossible ensuring that corrupt individuals pay the

price while fostering the healthy growth of self-disciplined individuals.Prevent corruption risks and enhance the Group’s profitability. Key Performance

During the reporting period 100% of the Company’s employees

signed the Integrity Self-Discipline Agreement.Integrity Risk Control 100% of the Company’s suppliers signed the Integrity Commitment

The Company focuses on enhancing integrity risk control concentrating on key areas Agreement.such as procurement and marketing to combat commercial bribery and corruption. Each

year it organizes frequent audit inspections conducted by experienced professionals.Meanwhile the Company leverages advanced big data analytics technology to accurately

identify potential risk points significantly enhancing the foresight and effectiveness of

integrity risk management and maintaining the Company’s good image in business ethics.

157 158Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Integrity Training

The Company is committed to building a clean corporate culture and actively promotes activities such as “Integrity Activity”

anti-corruption conferences and procurement empowerment training within the organization. Through leadership at all levels the Anti-Unfair Competition

Company comprehensively implements the requirements for integrity construction enhances employees’ awareness of clean

practices and effectively prevents and reduces corruption risks.As a leading domestic power equipment and charging network operator the Company understands that a market competition

environment characterized by integrity transparency fairness and justice is the cornerstone for promoting the healthy

development of the industry. The Company strictly adheres to the Anti-Monopoly Law of the People's Republic of China and the

Anti-Unfair Competition Law of the People's Republic of China as well as other relevant laws and regulations. During its production

and operation processes the Company upholds the bottom line and consistently adheres to the principle of fair competition. It

resolutely refrains from engaging in monopolistic behavior by leveraging its market position and continuously enhancing its own

capabilities product quality and service quality to earn the trust and support of its customers. During the reporting period the

Company did not experience any incidents of violating laws and regulations related to unfair competition.Procurement Empowerment Training Integrity Conference Reporting Channels

The Company actively improves its corruption reporting mechanism to

effectively curb corruption and unfair competition. Multiple reporting Reporting Channels

channels have been established including phone mail email and

Key Performance public account reporting links which are publicly disclosed on the

official website and other platforms to protect the legal interests of the

Company and relevant personnel. While ensuring the transparency and Tel.: 0532-89087382

efficiency of the reporting process the Company focuses on improving Email: shenji@tgood.cn

During the reporting period the The number of person-times The participation duration in the handling procedures for whistleblower tips and strengthening the

participated in integrity training integrity training activities confidentiality of the information of complainants. Whistleblowers can

Company conducted 3 integrity 8600 13000 choose to report anonymously or with their real identity. They will training sessions. activities was . totaled hours. receive a prompt response after the report is received and the

investigation results will be regularly communicated back to the

whistleblower.

159 160Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Advancing Digital Transformation

TGOOD is accelerating its digital transformation to achieve the strategic goal of Excellence by 2025. The Company has developed

a three-year digital blueprint that focuses on the deep integration of business finance incentives and data committed to building

an end-to-end value chain and a digital platform for the entire product lifecycle. Currently the digitalization process has reached Streamlining internal business Streamlining the business flow Exploring the full business flow

stage 3.5 focusing on integrating business flows with customers and suppliers to achieve more efficient collaboration and value processes at TGOOD—3 points between TGOOD and customer data value—4 points

creation. suppliers—3.5 points

Organization: Iterative upgrade of Establish the TGOOD Data

Cross-organizational internal operations and Center: Based on the data

Business Enhancement of Improvement in Enhancement of Improvement in Improvement of collaboration; provide KPI system upgrade from the TGOOD

Closed-loop Revenue Reserve Revenue Forecasting Project Execution Profit Contribution Net Profit training mechanisms and Integrated Supply Chain

Capability Capacity Capability Capability Ability Capability Efficient collaboration with

resource support for the Ecological Platform

strategic suppliers:

continuous enhancement extract data value and

Coordination of the

Corporate Innovation Corporate Value Corporate Asset of supply chain personnel support decision-making master plan long-term

Chain Data Chain Data Chain Data capabilities. utilizing data modeling plan and supplier plan;

Lowest Cost/ and new technology KPI Improvement Asset Turnover Rate Business: From order to coordination of material

Business Fastest Delivery applications.delivery with planning as planning with supplier

Digital

Continuity the leader achieve an stocking plans and Deepen the conversion of Trigger Product Receivable

Capability Cost Model

Delivery Risk Model Difference Early Warning Raw Material

Time Model Analysis Model Mechanism Circulation Circulation

efficient and integrated supplier production data value into business

Model Model Circulation Model Model Model

planning system for schedules; coordination of value provide upstream

Business Digital Digitalization of End-to-end Process project management supplier delivery plans and downstream partners

Continuity Capability Operational Capability Digitization master planning solutions with warehouse receiving and customers with

secondary processes plans. value-added services

materials production and based on data insights

Efficient collaboration with

shipping along with a and explore innovations in

key customers: Formulate

Digitalization Digitalization of Core Business Competencies End-to-end Process Digitization Digitalization of Operational Capability coordination mechanism business models and

Capability in joint business plans with (Technology project execution procurement (Digitalization of processes rules (Digitalization of KPI variance analysis and for production and sales. revenue models.Business and other capabilities) and risks) performance) key customers to achieve

Performance: The KPI deep synergy between

Opportunity – Project Execution After-sales Stage metric system drives customer needs and

Bidding Stage improvements in supply TGOOD’s delivery.Business Quality

Opportunity Bidding Contract

Agreement Order Design Procurement Construction Logistics Engineering Power Receivables chain efficiency.Plan After-Sales Transmission Assurance IT: Build an integrated

IT: Build an integrated supply chain ecosystem

supply chain platform with platform for key

TGOOD’s characteristics customers TGOOD and

that promote information strategic suppliers.transparency sharing and

During the transformation process TGOOD optimized its R&D model shifting from Engineer-to-Order (ETO) to Make-to-Stock efficient collaboration.(MTS) enhancing the profitability of intelligent manufacturing. Meanwhile by leveraging production execution planning and

Internet of Things (IoT) technologies it optimized manufacturing processes achieving shorter delivery times reduced costs

improved efficiency and enhanced quality. Additionally the Company has optimized inventory management and enhanced

after-sales service capabilities through digital means significantly improving operational efficiency and customer satisfaction.

161 162Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

During the reporting period the Company established the system

capabilities of the Intelligent Manufacturing Factory achieving data

integration across LTC PLM CAM WMS and IOT. The unfolding

auto-layout and auto-programming were automatically generated

through programming from the production plan to the equipment.Programming efficiency was improved by 25% the production cycle

shortened by 15.38% and the OEE increased by 29.54%.The Company has launched a comprehensive digital quality

management system achieving visualization of quality management

and full-process traceability providing managers with real-time data

support and decision-making basis. At the same time the Company

has introduced an SRM procurement management platform which has

reduced procurement costs and improved delivery timeliness further

strengthening the stability and efficiency of the supply chain. This has

enhanced TGOOD’s internal operational efficiency and increased the

Company’s competitiveness in the market laying a solid foundation for

achieving long-term strategic goals. During the reporting period the

Company received the certificate for the Second China Industrial

Digital Transformation Pioneer Enterprises.

163 164Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Future Outlook

Looking ahead TGOOD will continue to uphold the core concept of sustainability driven by technological innovation.The company is committed to green development and embracing its social responsibility. TGOOD aims to make

significant breakthroughs in fields such as high-end power equipment and electric vehicle charging with the goal of

creating greater value for society.Technological Innovation and Digital Transformation Social Responsibility and Value Creation

TGOOD will continue to increase its investment in R&D focusing on technological innovations in TGOOD has always regarded social responsibility as one of the core values of its corporate devel-

intelligence digitalization and sustainability. Through the deep application of technologies such opment. In the future we will continue to focus on the health and safety of our employees

as the Internet of Things big data and artificial intelligence we enhance the intelligence level of promote the development of corporate culture and create a more harmonious working environ-

our products and optimize user experience while also improving internal operational efficiency ment. At the same time TGOOD will actively engage in public welfare initiatives making mean-

contributing to the establishment of a cleaner and more efficient energy system. ingful contributions to society through efforts in education poverty alleviation and environmental

protection all while working towards the creation of a better future.Green Development and Carbon Neutrality Goals

Global Layout and Market Expansion

In the context of the global energy transition TGOOD is committed to actively supporting the

national “dual carbon” strategy. The Company is focused on the development and operation of With the rapid development of the global new energy market TGOOD will continue to expand its

new energy-charging infrastructure to accelerate the adoption of new energy vehicles thereby international market and strengthen deep cooperation with global partners. Through opportuni-

contributing to carbon reduction in the transportation sector. At the same time TGOOD will ties such as the “Belt and Road” initiative TGOOD will bring China’s advanced new energy

continue to optimize its energy structure increase the proportion of clean energy use reduce technologies and solutions to more countries and regions contributing to global energy transfor-

carbon emissions and contribute to achieving carbon neutrality goals. mation and sustainability.

165 166Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Annex

Sustainability Reporting

Guide to Corporate

Standards of Global

Chapters and Sections Sustainability Reporting inIndex Sustainability Standards Board (GSSB)(GRI Standards) China（CASS-ESG6.0）》

Innovation Leading Industrial

Development 2-27/203-2 S2.1

Sustainability Reporting

Guide to Corporate

Standards of Global Innovation Leading R&D Innovation ManagementChapters and Sections Sustainability Reporting in Sustainability Standards Board the Way: “One Step System

2-27/203-2 S2.1(GSSB)(GRI Standards) China（CASS-ESG6.0）》 Ahead Leading All R&D Innovative Strategic Goals 2-27/203-2 S2.1the Way”

About this Report 2-1/2-2/2-3/2-4 P1.1/P1.2 R&D Innovative Achievements 2-27/203-2 S2.1

Message from the Chairman 2-22 P2.1 Strict Control of Product Quality 2-27/416-1/416-2 S3.3

Company Profile 2-1/2-2/2-6 P3.1/P3.3 Optimizing After-Sales Service 417-3 S3.3

Customer Orientation:

Delivering Exquisite Responsible Supply Chain 2-27/204-1/308-1/414-1 S3.1

Performance in 2024 201-1 / Products and

Exceptional Services Protection of Information Security 2-27/418-1 S3.4

About TGOOD

Corporate Culture 2-17 P3.2 Efficient Utilization of Resources 301-2/301-3 E3.3

Milestones in 2024 / / 2-19/2-20/401-2/404-3/2-2Employee Care and Benefits 6/401-3 S4.1

Topic I: Wisdom-Powered Smart Manufacturing + Integrated

Services: Empowering New Power

Green Motion: Driving System Construction with / / Co-creating and Employee Recruitment and 2-7/2-26/2-27/401-1/405-1/Innovation in the New Innovative Technology S4.1

Sharing: Building a Interests 406-1/408-1/409-1

Power System Leading the Electric Vehicle Charging Network: Community of

New Forms of Energy Building a New Ecosystem for the

Dual Integration of New Energy and / / Mutual Benefits and Transformation Employee Training and

New Transportation Shared Future Development

404-1/404-2 S4.3

Comprehensive Power

Solutions Propel Global / / 403-2/403-3/403-6/403-7/Occupational Health and Safety S4.2

Topic II: Connecting the Energy Transformation 403-9/403-10/403-5

Smart World —

Accelerating Global Fuel the Global Electrification

Expansion and Supporting Acceleration with Leading Party Building Driving Development / // /

the Energy Transition Charging Network Ecosystem

2-9/2-10/2-12/2-13/2-14/2-

Exceptional Corporate Governance Compliance /

Sustainable Development Goals 2-27/203-2 S2.1 27/405-1

Implementing ESG Governance

Philosophies and Sustainable Development Innovating a New 2-27/416-1/416-2 S3.3 Strengthening Risk Control 207-2 /

Building a New Management Model of Non-Public

Harmonious Communications with 417-3 S3.3 Sector Party Enhancing Investor Relations

Ecosystem Stakeholders Management

2-16/2-27/2-29/

Building

Management of Material Topics 2-27/204-1/308-1/414-1 S3.1 Practicing Business Ethics 2-27/205-2 G2.1/G2.2

Advancement of Digital

2-9/2-27/201-2/305-1/305- Transformation / /

Response to Climate Change 2/305-4/305-5 E1.1

Green Pioneers: Future Outlook / A1

Eliminating Exhaust and

Smog for a Healthier Enhancing Environmental 2-9/2-27/302-1/302-2/302- Index / A3

Future Management 3/302-4/303-5/306-1/306- E2.1/E2.2/E2.4/E3.1/E3.2 Annex

2/306-3 Feedback 2-3/2-29 A6

167 168Qingdao TGOOD Electric Co. Ltd. 2024 Environmental Social and Governance (ESG) Report

Feedback

Thank you for reading this report. We highly value and look forward to hearing your feedback on this report. Your comments and

suggestions are crucial for us to continuously improve our information disclosure management and practices in connection with

ESG. We welcome and sincerely appreciate your valuable comments!

4. How do you think we have fulfilled our product responsibilities

□ Very Good □ Good □ Average

5. How do you think we have performed in terms of environmental safety and occupational health

□ Very Good □ Good □ Average

You can contact us through the following modes: 6. How do you think we have fulfilled our employee responsibilities

Tel.: 0532-80938126 □ Very Good □ Good □ Average

Email: ir@tgood.cn

Address: No. 336 Songling Road Laoshan District Qingdao City Shandong Province. 7. How would you rate the information disclosure layout design and readability of this report

□ Very Good □ Good □ Average

8. Any comments or suggestions on our ESG performance and this report

1. For TGOOD you are:

□ Government / Regulatory Agencies □ Shareholders/Investors □ Customers/Suppliers

□ Employees □ Community/the Public □ Media / Industry Association □ Others (please specify)

2. Your overall assessment of the Company’s ESG report:

□ Very Good □ Good □ Average

3. How do you think we have communicated with stakeholders

□ Very Good □ Good □ Average

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