Business Operations - Kingwell Group is primarily engaged in property development, leasing, and management services in China[2]. ESG Performance - The report covers the environmental, social, and governance (ESG) performance of key subsidiaries contributing to revenue, including Xuzhou Taihua and Jiangsu Tianan Hongji[3]. - The board emphasizes the importance of integrating ESG factors into business operations to enhance competitive advantage and adaptability to market changes[6]. - The governance framework includes a dedicated ESG working group to implement strategies and collect relevant data[8][9]. - The board regularly reviews ESG performance, risks, and opportunities to ensure effective management and compliance[10]. - The report is prepared in accordance with the Hong Kong Stock Exchange's ESG reporting guidelines, focusing on material issues[4]. - Quantitative data is provided to set measurable targets for assessing ESG performance objectively[4]. - The company encourages stakeholder feedback on its ESG report to enhance transparency and engagement[5]. - The board plays a critical role in setting clear goals for sustainability efforts aligned with the overall strategic objectives of the company[7]. - The group has identified 16 key environmental, social, and governance issues through a materiality assessment to guide its reporting and strategy[15]. Sustainability Goals - The company aims to reduce its carbon footprint and improve employee welfare as part of its sustainability agenda[6]. - The group has set a target to reduce greenhouse gas emissions, waste management, energy consumption, and water consumption, aligning with local government carbon neutrality goals[12]. Environmental Impact - In 2024, the energy consumption density is reported at 0.13 MWh/RMB 1,000 revenue, which is a 5% increase from the 2022 baseline of 0.04 MWh/RMB 1,000 revenue[16]. - The water consumption density for 2024 is reported at 10.71 m³/RMB 1,000 revenue, which is a 5% increase from the 2022 baseline of 2.99 m³/RMB 1,000 revenue[16]. - The waste generation density for 2024 is reported at 0.02 kg/RMB 1,000 revenue, which is a 5% increase from the 2022 baseline of 0.01 kg/RMB 1,000 revenue[16]. - The greenhouse gas emissions density for 2024 is reported at 0.07 tons CO2 equivalent/RMB 1,000 revenue, which is a 5% increase from the 2022 baseline of 0.02 tons CO2 equivalent/RMB 1,000 revenue[16]. - Nitrogen oxides (NOx) emissions for 2024 are reported at 1.21 kg, an increase from 0.91 kg in 2023[18]. - Sulfur oxides (SOx) emissions for 2024 are reported at 0.03 kg, an increase from 0.02 kg in 2023[18]. - Particulate matter (PM) emissions for 2024 are reported at 0.09 kg, an increase from 0.07 kg in 2023[18]. - The group has established a comprehensive environmental policy to guide its sustainable development efforts[17]. - Total greenhouse gas emissions decreased from 7,744.95 tons CO2 equivalent in 2023 to 5,173.76 tons CO2 equivalent in 2024, representing a reduction of approximately 33%[19]. - Direct greenhouse gas emissions (Scope 1) increased from 8.79 tons CO2 equivalent in 2023 to 10.01 tons CO2 equivalent in 2024, with gasoline emissions rising significantly from 1.59 tons to 4.38 tons CO2 equivalent[19]. - Indirect greenhouse gas emissions (Scope 2) decreased from 7,736.16 tons CO2 equivalent in 2023 to 5,163.76 tons CO2 equivalent in 2024, a reduction of about 33%[19]. - The total amount of non-hazardous waste increased from 634.84 kg in 2023 to 1,161.50 kg in 2024, primarily due to the return of all employees to the office post-pandemic[24]. - The density of non-hazardous waste per RMB 1,000 revenue increased from 0.01 kg to 0.02 kg[24]. Financial Performance - The company recorded revenue of RMB 71,415,000 in 2024, down from RMB 74,542,000 in 2023, indicating a decrease of approximately 4%[21]. Energy and Water Management - The company has implemented various energy-saving measures, including the use of energy-efficient equipment and regular maintenance of electronic devices[27]. - The total energy consumption density remained stable compared to the previous year[27]. - The company is committed to promoting green office practices and has established comprehensive policies to monitor and manage energy and water resource usage[25]. - Direct energy consumption increased to 43.22 MWh in 2024 from 27.47 MWh in 2023, with gasoline consumption rising significantly from 0.57 MWh to 15.94 MWh[28]. - Total water consumption decreased to 764,551.08 cubic meters in 2024 from 1,020,220.70 cubic meters in 2023, resulting in a reduction in water consumption density from 13.69 to 10.71 cubic meters per RMB 1,000 revenue[30]. - The company has implemented various water-saving measures and aims to continue reducing water consumption in the coming year[29]. Employee Management - Employee turnover rate improved to 36% in 2024 from 41.6% in 2023, indicating enhanced employee retention strategies[40]. - The company maintained a total of 480 employees in 2024, down from 500 in 2023, with a notable decrease in male employees from 340 to 325[39]. - Employee turnover rate for 2024 is 22% for males and 65% for females, with a total of 72 and 101 employees leaving respectively[41]. - The turnover rate for employees under 30 years old is 22%, while it is 43% for those aged 30 to 50 years, and 31% for those over 50 years[41]. - In mainland China, the employee turnover rate is 37% with 173 employees leaving, compared to a turnover rate of 100% in Russia with 2 employees leaving[41]. - The company has maintained a zero fatality rate due to work-related incidents over the past three years, although lost workdays due to injuries increased to 124 days in 2024[45]. - Approximately 100% of employees received training in 2024, with an average training duration of 20 hours per employee[49]. - The training participation rate is 68% for male employees and 32% for female employees, with all employee categories receiving an average of 20 hours of training[49]. - The company has implemented a comprehensive health and safety management system, ensuring compliance with relevant laws and regulations[44]. - The company evaluates its compensation system annually to ensure fairness and competitiveness, contributing to employee welfare[43]. - The company actively encourages employees to report health and safety risks and conducts regular safety inspections[46]. - The management reviews training proposals annually to ensure their effectiveness and relevance to industry trends[48]. Labor Practices - The company strictly adheres to labor laws, prohibiting child and forced labor, and has implemented corrective measures for any violations[51]. - Employees are entitled to paid leave and overtime compensation for hours worked beyond legal limits[52]. - The company collaborates with 15 suppliers in China, ensuring compliance with labor laws and environmental standards[54]. Product and Service Quality - There were no significant complaints regarding product safety or service quality during the reporting period, with zero major complaints reported[55]. - The company has established a comprehensive quality management system to ensure the safety and quality of its products and services[56]. - Intellectual property management policies are in place to prevent unauthorized use of software and data[57]. - The company emphasizes customer privacy protection, implementing strict policies and technical measures to safeguard customer data[57]. - The group distributes manuals with detailed explanations of sales data authenticity to ensure transparency[58]. - The group conducts annual reviews of access rights to computers and accounts, limiting data access to current employees[58]. Anti-Corruption Measures - There were no significant violations related to bribery, extortion, fraud, or money laundering during the reporting period, with zero concluded corruption cases in 2023[59]. - A total of 480 hours of anti-corruption training was provided to all directors and relevant employees during the reporting period[60]. - The group has set up an anti-bribery department responsible for developing and overseeing anti-bribery and anti-corruption policies[60]. - The group integrates corporate social responsibility into its development strategy and daily operations[62]. - The group prohibits the use of false or misleading statements in advertising to accurately reflect the services provided[58]. - The company has implemented policies to prevent bribery, extortion, fraud, and money laundering, ensuring compliance with relevant laws and regulations[73]. - During the reporting period, the number of concluded corruption lawsuits against the company or its employees was documented, along with the outcomes[73]. - The company has established reporting procedures and monitoring methods to prevent corruption[73]. - Anti-corruption training has been provided to directors and employees to enhance awareness and compliance[73]. Community Engagement - The group actively participates in community charity activities, focusing on the needs of vulnerable communities[62]. - The group has established a comprehensive whistleblowing system to protect the rights of employees and stakeholders[61]. - The company focuses its community investment contributions in areas such as education, environmental issues, labor needs, health, culture, and sports[73]. - Resources allocated in the focused areas include both financial contributions and time dedicated to community engagement[73].
京维集团(01195) - 2025 - 年度财报