SUSTAINABILITY
REPORT
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52 53 54CONTENTS
Sustainable Environmental
PART PART
Governance 01 Protection 02
About This Report 01
Implementing Development Policy and Responding to Climate Challenges Assisting in
Message from the Management 03 Enhancing Governance Foundations 13 Low-carbon Transformation 36
Sustainable Development Highlights 04 Implementing Compliant Corporate Governance Improving Environmental Management
Protecting Stakeholders’ Rights and Interests 22 Safeguarding Environmental Protection Boundaries 39
About Hoymiles 06
Adhering to Integrity and Anti-Corruption Optimizing Energy Utilization Achieving Energy
Special Feature 1: Sticking to the Bottom Line of Integrity 31 Conservation and Consumption Reduction 44
Adhering to Technological Innovation Exploring Material Circulation Improving Resource
Creating New Quality Productive Forces 10 03 Efficiency 50Industry Value PART Protecting Ecological Balance Maintaining Special Feature 2: Biological Diversity 50Consolidating the Layout of Global
Business Supporting the Development
of Green Energy 11 Building Responsibility Chain Coordinating
Industry Development 52 Good Life 0PART 4
Strengthening Innovation-Driven Development
Leading the Industry Upgrading 56
Appendix Keeping Strict Control of Quality and Safety Protecting Labor Rights and Interests Energizing
Fortifying the Line of Defense for Security 64 Employees’ Vitality 76
Appendix Ⅰ: Performance Form 101
Optimizing Customer Service Improving Focusing on Health and Safety Creating a Secure Appendix II: Indexes 107
Customer Experience 71 Workplace 90
Appendix III: Independent
Assurance Statement 112 Ensuring Information Security Protecting Fulfilling Social Responsibility Contributing
Customer Privacy 72 Corporate Power 97
Appendix IV: Feedback 114
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About This Report
This is the Sustainability Report (hereinafter referred to as "this Report") released by Hoymiles Power Electronics Inc. (hereinafter referred to as “Hoymiles” “the Company” or "We"). In
the principles of objectivity standardization transparency and comprehensiveness this report provides a detailed disclosure of the Company’ s practices in sustainable development in
2024.
Reporting Scope Reporting Period
This report covers Hoymiles Power Electronics Inc. Unless otherwise specified the scope of This report covers the period from January 1 2024 to December 31
this report is consistent with that of the Company’ s Annual Report. 2024 (the "Reporting Period"). To improve the comparability and
completeness some sections of this report may be appropriately
Certification Statement extended to previous years or contain forward-looking statements. This
report is released on an annual basis consistent with the financial year.This report has been independently verified by Shenzhen Value Online Information
Technology Co. Ltd. The verification standards scope methodology and conclusions are Data Source
detailed in Appendix III.Data sources used in this report include public data from government
Preparation Basis agencies the actual operational data annual financial data internal
statistical reports of the Company third-party questionnaire surveys
Shanghai Stock Exchange
third-party evaluations or interviews etc. The original data of the actual
operation of the Company is sourced from Hoymiles Hengming
Global Reporting Initiative
Electronics and Haining Hengli. A clarification is provided on the scope of
China Enterprise Reform and Development Society
some data that is not aligned with the consolidation scope of the above. - The financial data in this report is expressed in RMB. For any discrepancy
between this report and the financial statements the financial statements
UN Sustainable Development Goals (SDGs) shall prevail. - -
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Appellation Description
Term Interpretation
Hoymiles the Company or We Hoymiles Power Electronics Inc.Hengming Electronics Hengming Zhejiang Hengming Electronics Co. Ltd. a wholly-owned
subsidiary of the Company
Suzhou Hoymiles Suzhou Hoymiles New Energy Technology Co. Ltd. a
wholly-owned subsidiary of the Company
Hangzhou Heli Hangzhou Heli New Energy Co. Ltd. a wholly-owned
subsidiary of the Company
Haining Hengli Haining Hengli Energy Technology Co. Ltd. a wholly-owned
subsidiary of the Company
Zhejiang Hoymiles Zhejiang Hoymiles Clean Energy Co. Ltd. a wholly-owned
subsidiary of the Company
Zhejiang Henghe New Energy Co. Ltd. a wholly-owned
Zhejiang Henghe
subsidiary of the Company
Confirmation and Approval
This report was approved by the Board of Directors of the Company on April 29 2025 and was released in
conjunction with the Annual Report. The Board pledges to exercise oversight over the contents of this report
ensuring its absence of any false records or misleading representations and assuming responsibility for its
truthfulness accuracy and completeness.This report is published in Chinese with the English version derived from the Chinese translation. In the event of
any discrepancies between the two versions the Chinese version shall prevail.Access to this Report
This report is available for review and download on the websites of the Company (www.hoymiles.com) and the
Shanghai Stock Exchange (www.sse.com.cn).
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Message from the Management
Adapting to the trends of the times Hoymiles embraces the new energy economy and cultivates new quality productive forces. This has presented Hoymiles with historic development
opportunities. Since the establishment of Hoymiles our steadfast commitment to the philosophy of responsibility greenness harmony and standardization has led and supported us in
forging ahead on the journey of entrepreneurship innovation growth and development.As a leading enterprise in the field of green and smart energy Hoymiles has always integrated the ESG philosophy with our development and value. For Hoymiles the essence of
practicing ESG lies in applying implementing integrating and reflecting the ESG philosophy and standards in all aspects and links such as governance structures strategic planning
business operations production management and risk control to address the uncertainties and emergencies arising from climate change environmental challenges and social problems
including the frequent occurrence of extreme climate geopolitical and macro-policy changes etc. This drives Hoymiles to identify and anticipate risks discover and seize opportunities
make decisions that are more beneficial to our long-term development and achieve the high-quality sustainable development of the Company.For more than a decade the practices and performance of Third Hoymiles gradually builds an environmental and climate implementation of social responsibilities. In accordance with
Hoymiles in environmental social and governance (ESG) are management mechanism. We integrate environmental and applicable laws and regulations we gradually establish sound
mainly reflected in the following aspects: climate risk management with our production operations systems and operating procedures in fields such as employee
supply chain management and internal risk management and management safety production quality assurance supplier
First Hoymiles responds to and implements the national "carbon establish measures for environmental and cl imate risk management protection of customers’ rights and interests and
peaking and carbon neutrality" goal contributing to the global prevention and control as well as emergency management social welfare to standardize and improve the ESG practices of
green and low-carbon transformation. As a leading manufacturer systems against all risk sources. In addition we also identify Hoymiles.of photovoltaic (PV) and energy storage products in the field of environmental and climate risks address environmental and
new energy Hoymiles has produced and installed a large number climate challenges and discover environmental and climate Sixth Hoymiles explores the governance mechanism of
of PV inverters PV power generation systems energy storage opportunities. entrepreneurial enterprises that give equal importance to
systems and other PV and energy storage products for more than high-speed development and standardized operation and forms
a decade and played an important role in promoting the Fourth Hoymiles strives to build green productivity. We develop a governance structure characterized by standardization
transformation from traditional energy to clean energy. and apply energy-saving and environment-friendly technologies innovation efficient decision and a combination of diversity
and processes strictly control the discharge of pollutants in and specialization. Efforts have been made to cultivate core
Second Hoymiles leads the technological innovation to create compliance with relevant standards and effectively enhance the values of respect and equality and create a relaxed and
new quality productive forces. Relying on self-developed efficiency of resource utilization. Through self-built PV power harmonious corporate atmosphere.theoretical achievements in circuit topology and control stations we are addressing a portion of our production
algorithms we have built multiple development platforms of electricity needs with green power and gradually increasing the We are fully aware that ESG is not a slogan but a genetic code
power and electronic products such as PV inverters and energy green power usage rate in our overall energy consumption. for the long-term sustainability of a company. We will upholdstorage inverters continuously optimized the performance the core philosophy of “responsibility greenness harmony andreliability and cost of the products and launched several highly Fifth Hoymiles strengthens the foundation of ESG management standardization” and integrate sustainable development into
competitive product series in the market. and organizes and institutionalizes the fulf i l lment and every aspect of Hoymiles’ s development.
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Sustainable Development Highlights
ESG Performance Highlights in 2024
Operating Performance Performance in Business Ethics
Operating Income Net Profit Attributable to Signing Rate of the Commitment Duration of Training on
19.93 Shareholders of the Listed Company to Integrity by New Employees Anti-Corruption and Integrityin RMB 100 million 3.44in RMB 100 million 100% 25hours
Total Assets Total Taxes Major Violations of Business Ethics Incident of Corruption
83.33in RMB 100 million 2.12in RMB 100 million 0case 0case
Environmental Performance
Total Investment in Photovoltaic Power Generation Coverage Rate of Green Power Total Water Consumption Clean Energy Usage Rate
Environmental Protection
37.52 1827374kWh 23.45% 27260tons 8%in RMB 10000
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Performance in Sustainable Performance in Labor ESG Honors in 2024
Procurement and Human Rights
Total Suppliers Total Investment in Investment in
291 Social Welfare Employee Training13in RMB 10000 81.74in RMB 10000
Suppliers with Quality Management
System Certification
129 Total Hours of Total Number ofEmployee Training Persons Trained
15872hours 989person-times Bronze Prize of
Suppliers with Environmental
Management System Certification EV Rating in 2024
107 Proportion of Proportion of Female
Female Employees Employees in Management
Suppliers with Occupational Health and 35.98% 34.10%
Safety Management System Certification
105
Coverage Rate of Signing Rate of
Occupational Health Employment Contract
Suppliers participating in on-site audits of Checkup
Corporate Social Responsibility (CSR) 100%
128100%
Signing Rate of Supplier Code of Coverage Rate of
Conduct by New Suppliers Social Insurance
100%100%
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About Hoymiles
Company Profile
Founded in 2012 Hoymiles Power Electronics Inc. is a high-tech enterprise specializing in PV and energy storage with a focus on
power electronics technologies. The Company listed on the STAR Market of the Shanghai Stock Exchange ( “SSE STAR Market” )
in 2021 (Stock Name: Hoymiles; Stock Code: 688032) is a smart energy solution provider integrating research production and
sales of new energy products mainly including microinverters energy storage inverters etc.Since 2021 Hoymiles has been ranked first in China and second in the world in terms of shipment of microinverters. Now the
microinverter energy storage inverter and other products of the Company have been widely used in fields of PV power generation
and energy storage worldwide serving customers throughout the Americas Europe Asia and many other countries and regions.Hoymiles started the layout for the industrial and commercial energy storage business segment in 2017. Since 2022 new
products such as commercial and industrial energy storage all-in-one machines high-voltage household energy storage systems
large-scale energy storage systems and many other new energy storage products of the Company have entered the market.These products successively received numerous certifications and awards both domestically and internationally and gained
widespread market recognition.Corporate Culture
Our Mission Our Vision Our Values
To become a globally-leading Integrity Responsibility
To make the power energy smarter
smart energy partner Professionalism Efficiency
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Development History 2024
Rated as a Single Champion Manufacturing Enterprise
2012 Launched the first "MiT-Series" 5000W 8-in-1 microinverter in the world
Officially established the Company 2020 Launched the world’ s first AC-coupled micro
Recognized as a "National PV storage product - MS Micro Storage
2013 2016 Manufacturing Standard Enterprise of Put the Mexican Manufacturing Base into operation
the Ministry of Industry and Information officially
Obtained the Golden Sun Awarded the "Second Prize of Technology"
certification with three-phase the National Natural Science"
(Winner: Yang Bo General Launched the first-generation PV grid-connected inverters
Manager of Hoymiles) three-phase microinverters adapted
Established a cooperative to industrial and commercial systems
relationship in power electronics 2017 and expanded the application
technology R&D with Fuji scenarios of microinverters and the
Electric of Japan. Had micro-inverter products first-generation of three-phase
passed the National Frontrunner energy storage products 2022
2014 Certification Launched a new product series the HRSD rapid
Gradually obtained CSA (North Became an authorized laboratory 2021 shutdown devices adapted for string systems upgraded
America) BV (Europe) SAA of the CSA Group energy storage solutions and released the Officially listed on the SSE STAR
(Australia) and CQC (China) Launched the highly second-generation hybrid energy storage invertersMarket on December 20 2021
certifications with cost-effective 4-in-1 single-phase (Stock Name: Hoymiles; Stock Appraised as one of the fourth batch of "Little Giant"
microinverters since 2014 microinverter series Code: 688032) Specialized and Sophisticated Enterprises that
Produces Novel and Unique Products
20182023
2015
Obtained the qualification of the provincial high-tech enterprise research center First launched Wi-Fi-integrated microinverters
Recognized as a National Participated in the compilation of the national standards of the energy and FLEX-series new products worldwide
High-Tech Enterprise. industry: NB/T 42142-2018 Technical Specification of Photovoltaic First introduced "HPCS-Series Centralized
Successively launched micro-inverter Grid-Connected Microinverter and NB/T 42143-2018 Technical Specification Energy Storage Products" and HIM-Series
products on markets in North of Photovoltaic Module Power Optimizer all-in-one boosting machines
America Europe Latin America and
other regions. 2019 年 Established a post-doctoral workstation in Zhejiang Province
Rated as a "National Key Software Enterprise"
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Business Overview Honors in 2024
The Company is mainly engaged in the R&D manufacturing and sales of products related to PV inverter and energy
storage. Among others the PV inverters and related products mainly include microinverters and monitoring equipment
Series inverter shutdown devices and PV power generation systems. The products related to energy storage mainly include Hoymiles Ranked Second in
energy storage inverters and energy storage systems. Microinverter Shipments in 2023
The main products of the Company are as follows: Energy Storage Inverters
Split-phase Hybrid Energy Storage Inverter (North America)
2024/2025 "Solar Prosumer Award" of
Single-phase Hybrid Energy Storage Inverter
German Inverter Market
PV power system Three-phase Hybrid Energy Storage Inverter
Second-Generation Single-Phase Hybrid Energy Storage Inverter
Centralized three-phase energy storageinverter
Shutdown Systems
"Gaogong Golden Globe Award -
1-in-1 Shutdown Devices Energy Storage System-Related Products Technology of 2024"
2-in-1 Shutdown Devices HoyUltra
Transmitters (including stand-alone Outdoor All-in-One Liquid-Cooled Energy Storage Integrated System
installation waterproof box installation etc.)
(Cabinet)
HoyCore TOP 50 of Energy Storage
String Inverter
Outdoor Liquid-Cooled Energy Storage Integrated System (Cabinet) Industry in 2024
320kW PV String Inverter HoyPrime
Liquid-cooled Energy Storage Integrated System (20-foot Container)
Microinverters and Monitoring Equipment HoyHome Industrial and Commercial Energy
1-in-1 Inverters 8-in-1 Inverters Household Energy Storage Batteries Storage Enterprise with Brand
2-in-1 Inverters Data Transfer Units (DTU) Battery Management System (BMS) Influence in 2024
4-in-1 Inverters Monitoring Cloud Energy Management System (EMS)
Service Platform Balcony Energy Storage System (Micro Storage)
Innovative PCS Manufacturer of the
Energy Storage Industry in 2024
PV Inverters and Related Products Energy Storage-Related Products
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Innovative Microinverter Top 10 Energy Storage PCS
Manufacturer of the
Photovoltaic Brands on Energy Storage
Industry in 2024 List in 2024
2024 "Good PV" Top 10
Single Champion
Brands of Distributed PV
Manufacturing Enterprise
Inverters
PVBL 2024 Global Most
Influential Distributed High-tech Enterprise
Solar PV Brand
"Optical Energy Cup" 2024
China Energy Storage Headquarters Enterprise
Industry Outstanding PCS of Hangzhou City
Supplier
Key Enterprise Research Annual Innovation
Institute of Zhejiang Enterprise on Capital
Province Market Value List
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Special Adhering to Technological Innovation
Feature 1 Creating New Quality Productive Forces
Since its establishment Hoymiles always adheres to the core philosophy of technological innovation continuously pursues excellence and strives to provide a series of high-quality
green energy products to society. We are committed to building a "globally-leading energy partner" and contributing to the realization of a sustainable energy future through
unremitting efforts and continuous innovation.In 2024 The total R&D investment of the Company was RMB 266.1145 million a year-on-year increase of 7.41% accounting for 13.35% of the operating revenue. The Company
obtained 106 new authorized intellectual property rights and owned a total of 331 authorized intellectual property rights including 41 invention patents 27 utility model patents 17
design patents 91 software copyrights and 155 others (including overseas trademarks). The R&D team continues to expand with 588 R&D personnel an year-on-year increase of
211. The quality of personnel is constantly improving ensuring the Company maintains a talent pool for technological leadership.
Due to long-term investment in R&D the Company continues to maintain a leading position in the inverter technology field stand out in fierce market competition and win the
respect and trust of customers. In 2024 the Company launched MiT the world’ s first microinverter with a power of up to 5000W. Compared to traditional inverters which have a
shorter warranty period and generally need to be replaced every 10 years the warranty period of MiT can last up to 25 years. Its inherently safe design eliminates the risk of
high-voltage DC arcing and provides customers with a more cost-effective solution while ensuring the stable operation of the system. MiT adopts 4-channel MPPT to ensure that
each PV module can output the maximum power and it features low start-up voltage and high resistance to extreme climates such as high temperature or severe cold thus
prolonging the effective duration of power generation. MiT is perfectly compatible with ultra-high power modules expanding its application scenarios. Its powerful performance
has received unanimous praise in the industry.Building on the solid foundation of microinverter products the Company is actively expanding into energy storage-related products. In the energy storage application field the
Company launched the MS Micro Storage (MS-A2 series) the world’ s first AC-coupled micro energy storage product in 2024. MS is 100% compatible with all microinverters and
supports an off-grid mode which brings great convenience to users who have adopted balcony PV systems.In 2024 the Company launched HPCS125 --- the next-generation liquid-cooled energy storage inverter with higher protection level. This new product is designed to address challenges in
industrial and commercial energy storage markets such as complex application scenarios ever-changing requirements and derating under high temperatures. Focusing on achieving energy
efficiency and safety it inherits the intelligent liquid cooling design and provides high-performance solutions for the application of industrial and commercial energy storage products.Now the Company has several innovative projects that are at the development or commissioning stage which involve energy storage all-in-one systems based on full liquid
cooling design high-power energy storage inverter control platforms low-cost three-phase microinverter systems. These projects are at an advanced technical level within the
industry. For example the Company is researching key technologies such as arc detection and fault location for PV optimizers new conversion topologies and controls for
grid-tied inverters to provide foundational support for the development of next-generation products.We will continue to tap and explore new technological fields and promote technological breakthroughs and innovations in response to the ever-changing market demands.Meanwhile we will focus on aligning R&D achievements with market needs continuously launching competitive products and solutions to enhance product performance improve
the product matrix and create greater value for customers.
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Special Consolidating the Layout of Global Business
Feature 2 Supporting the Development of Green Energy
Withing the increasing attention to green energy worldwide Hoymiles as a member of the new
energy industry has firmly taken steps toward global expansion.After more than 10 years of development we have established sales subsidiaries in the Netherlands
Australia Singapore the United States Germany and other countries further strengthening our
globalization strategy. The Company has obtained over 1000 product certifications for microinverters
globally and its energy storage inverters have successively passed grid connection certifications in
important markets such as Germany Poland France the UK Australia Austria and Pakistan.In 2024 the manufacturing base of the Company in Monterrey Mexico was open for operation. Mr.Yang Bo General Manager of Hoymiles said at the opening ceremony: This new manufacturing base
represents the expansion of our business scale and reflects our confidence in investing in the
development of renewable energy in North America and Latin America." The success in the Mexico
Manufacturing Base enables the Company to respond more flexibly to market fluctuations and policy
changes in the complex and ever-changing global economy and also enhances the robustness of
the supply chain and the speed of product service responses supporting the business expansion of
the Company. It may also create new job opportunities locally in Mexico and promote local economic
development. The operation of the base will directly affect hundreds of families and the renewable
energy products it serves will also contribute to the global green transformation.In the future development path Hoymiles will continue to uphold the brand philosophy of "Making
Open Energy Accessible to All" and accelerate the global business layout with the help of
technological innovation and market expansion to serve a wider range of market needs.
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52535401
Sustainable
Governance
Implementing Development Policy and
Enhancing Governance Foundations
Implementing Compliant Corporate
Governance Protecting
Stakeholders’ Rights and Interests
Adhering to Integrity and Anti-Corruption
Sticking to the Bottom Line of Integrity
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Implementing Development Policy and
Enhancing Governance Foundations
Sustainable Hoymiles upholds "low-carbon innovation" to promote environmental development practices "diversity and inclusion" to protect labor and
Development Policy human rights adheres to "integrity and compliance" to comply with business ethics and maintains "a selective and stable supply chain" for
sustainable procurement to implement sustainable development principles.Sustainable
Development
Policy
Environment Labor and Human Rights Business Ethics Sustainable Procurement
Low-carbon Innovation Diversity and Inclusion Integrity and Compliance Selective and Stable Supply Chain
Hoymiles is committed to promoting Hoymiles attaches great Upholding the core values of Hoymiles builds a supplier
green and low-carbon importance to employee welfare "Integrity Responsibility evaluation system prioritizes
transformation and helping to and development advocates for Professionalism and Efficiency" suppliers with good sustainability
achieve the green and low-carbon a diverse and inclusive culture Hoymiles adheres to integrity in performance and establishes
goals by optimizing production actively creates a positive business activities complies with long-term cooperative
processes and reducing carbon working environment respects the rules and ethical norms and relationships with them to
emissions. With leading PV storage and protects employees’ rights fulfills corporate responsibilities stabilize supply and ensure the
products and solutions the Company and interests and ensures that to provide high-quality products sustainability of the supply chain.helps global families and businesses employees from different and services.use energy more efficiently and backgrounds can develop within
demonstrates the spirit of innovation the Company.in the low-carbon field.
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Sustainable Development The Company takes on the role of an industry leader actively responds to the national "carbon peaking and carbon
Vision and Goal neutrality" strategy and the UN Sustainable Development Goals (SDGs) and adheres to the commitment to natural ecology
social development employee growth and customer value in all aspects. We have established a dynamic risk management
mechanism deeply integrated the philosophy of sustainable development into strategic decisions and continued to promote
the transformation of the Company into a modernized business model that is green low-carbon synergistic and quality-first.SDGs Responded
SDGs Specific Actions Corresponding Section
04 Good Life
Eliminate gender discrimination guarantee women's equal rights in employment and
Protecting Labor Rights and Interests Energizing Employees’
other aspects promote women's economic independence practice social responsibility
Vitality
make public welfare donations and support rural revitalization.Fulfilling Social Responsibility Contributing Corporate Power
02 Environmental Protection
Prevent the pollution of water resources guarantee the safety of water use in
Improving Environmental Management Safeguarding
agriculture maintain the balance and stability of the ecosystem protect biodiversity
Environmental Protection Boundaries
and provide a good ecological environment for agricultural production
Protecting Ecological Balance Maintaining Biological Diversity
Adhere to safe production conduct safety training strengthen the prevention and 04 Good Life
treatment of occupational diseases create a healthy environment for employees Protecting Labor Rights and Interests Energizing Employees’
promote social fairness and inclusion reduce the negative impact of poverty and Vitality
inequality on health and enable all employees to enjoy good health and well-being. Focusing on Health and Safety Creating a Secure Workplace
Establish a complete learning and development system establish an internal trainer 04 Good Life
team leverage the online learning platform of Hoymiles Academy assist employees in Protecting Labor Rights and Interests Energizing Employees’
learning and growth support the development of colleges and universities and deepen Vitality
the industry-university-research cooperation. Fulfilling Social Responsibility Contributing Corporate Power
Eliminate gender discrimination in employment ensure equal rights for men and women
in job opportunities career development and remuneration provide women with equal
04 Good Life
promotion opportunities and vocational training strictly implement equal pay for equal
Protecting Labor Rights and Interests Energizing Employees’
work legally ensure the paid leave rights of female employees regularly organize
Vitality
cultural and sports activities for female employees and establish a Women's Committee
in the trade union to safeguard the legitimate rights and interests of female employees.
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SDGs Specific Actions Corresponding Section
Strengthen water resource protection and pollution prevention prevent the pollution of 02 Environmental Protection
water bodies from domestic wastewater and other sources improve the water Improving Environmental Management Safeguarding
measurement system strengthen patrol inspection and maintenance of water facilities Environmental Protection Boundaries
and use water-saving devices to reduce water consumption per unit of output and Optimizing Energy Utilization Achieving Energy Conservation
improve water resource utilization efficiency. and Consumption Reduction
Vigorously develop renewable energy such as solar energy gradually increase the
proportion of renewable energy in the energy consumption structure promote the 02 Environmental Protection
development of the renewable energy industry improve the power generation efficiency Optimizing Energy Utilization Achieving Energy
of renewable energy reduce costs and choose and replace energy-efficient equipment. Conservation and Consumption Reduction
Optimize production processes improve energy utilization efficiency and reduce energy
consumption per unit of product; invest in the construction of technically innovative 04 Good Life
agricultural-photovoltaic complementary and household PV power station projects and Fulfilling Social Responsibility Contributing Corporate Power
promote the optimization and upgrading of local energy structures.Create ample employment opportunities prohibit illegal labor such as forced labor and 04 Good Life
child labor strengthen the training system provide good career development Protecting Labor Rights and Interests Energizing Employees’
opportunities and promotion channels and ensure that workers receive reasonable Vitality
wages good working conditions occupational safety and health protection. Focusing on Health and Safety Creating a Secure Workplace
Continuously strengthen R&D capabilities and industry-university-research collaboration
promote breakthroughs in core power electronics technologies such as PV and energy
03 Industry Value
storage enhance energy conversion efficiency and system security focus on green and
Strengthening Innovation-Driven Development Leading the
low-carbon development accelerate the large-scale application of clean energy solutions
Industry Upgrading
vigorously promote training in innovation and development promote the development of
new quality productive forces and strengthen the protection of intellectual property rights
Prioritize employment opportunities for vulnerable groups promote pay equity cultivate 04 Good Life
an inclusive culture that safeguards workers prohibit all forms of discrimination based Protecting Labor Rights and Interests Energizing Employees’
on gender region race and other factors and ensure fair treatment for all employees Vitality
02 Environmental Protection
Strengthen environmental supervision reduce air water soil and noise pollution select
Improving Environmental Management Safeguarding
and replace with energy-efficient equipment optimize production processes purchase
Environmental Protection Boundaries
or produce renewable energy optimize water usage processes improve electricity and
Optimizing Energy Utilization Achieving Energy Conservation
water usage reviews and strengthen facility inspection and maintenance
and Consumption Reduction
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SDGs Specific Actions Corresponding Section
02 Environmental Protection
Optimize production processes introduce advanced technology and equipment Optimizing Energy Utilization Achieving Energy Conservation
accurately control material usage and reduce waste Utilize material recycling and reuse and Consumption Reduction
systems to turn production waste into reusable resources implement full lifecycle Exploring Material Circulation Improving Resource Efficiency
management of products conduct strict evaluation and management of suppliers 03 Industry Value
require suppliers to comply with standards on environment labor and human rights Building Responsibility Chain Coordinating Industry Development
and promote the sustainable development of the entire supply chain. Keeping Strict Control of Quality and Safety Fortifying the
Line of Defense for Security
Reduce carbon emissions increase the use of renewable energy and lower energy 02 Environmental Protection
consumption per unit of product Addressing Climate Challenges Supporting Low-Carbon
Transformation
Regularly hire professional testing agencies to monitor wastewater discharge outlets
conduct routine inspections and maintenance of wastewater treatment facilities strictly 02 Environmental Protection
control the discharge of wastewater that meets discharge standards and minimize the Improving Environmental Management Safeguarding
impact on the water environment. Environmental Protection Boundaries
02 Environmental Protection
Classify and manage waste implement low-waste production processes ensure 100%
Improving Environmental Management Safeguarding
centralized and standardized treatment of hazardous waste use energy-efficient
Environmental Protection Boundaries
equipment optimize production processes and reduce environmental impact
Protecting Ecological Balance Maintaining Biological Diversity
01 Sustainable Governance
Implementing Compliant Corporate Governance Protecting
Conduct legal and compliant operations standardize the functioning of the General Stakeholders’ Rights and Interests
Meeting of Shareholders the Board of Directors and the Board of Supervisors Adhering to Integrity and Anti-Corruption Sticking to the
strengthen the risk management and control mechanisms enhances investor relations Bottom Line of Integrity
management and anti-corruption initiatives. and prohibit all forms of violations of
human rights 04 Good Life
Protecting Labor Rights and Interests Energizing Employees’
Vitality
Promote the sustainable development of the supply chain by building the ESG
management system for suppliers enhance procurement efficiency and improve the 03 Industry Value
stability of the supply chain by relying on suppliers' digital management promote Building Responsibility Chain Coordinating Industry Development
sunshine procurement and build an honest and sustainable business ecosystem.
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Sustainable Development Governance
Information Management Mechanism for
Governance Framework for Sustainable Development Sustainable Development
To ensure the effective implementation of the sustainable development strategy the Company To deeply implement the sustainable development strategy in depth the
has built a three-tier governance system of "Decision-Management-Execution". The Board of Company has established information disclosure and management indicators
Directors as the highest decision-making body is responsible for reviewing the sustainable covering topics such as climate change energy utilization product quality
development strategy framework and major related issues and the compliance of the annual and technological innovation and continuously improved the ESG
sustainability report. The management of each business unit is responsible for decoding the management indicator database. Through a regular data collection and
strategy formulating phased implementation plans and supervising the implementation of analysis mechanism the Company monitors the operating effectiveness of the
relevant projects. An ESG Special Working Group has also been established to coordinate and sustainable governance system to ensure that employees at all levels reach a
advance specific work in environmental social and governance dimensions. clear consensus on strategic objectives and implement them effectively.Sustainability Risk Management
To address changes in the internal and external environments the Company has established a comprehensive risk management system formulated a series of risk management
systems regularly identified and assessed potential risks and formulated countermeasures.Risk Type Description Corresponding Section1
An increase in the frequency and intensity of extreme climate (e.g. typhoons floods or high 02 Environmental Protection
Physical Risk temperatures) may lead to production interruption equipment damage and supply chain Addressing Climate Challenges Supporting Low-Carbon
disruption. Transformation
The government may introduce stricter climate change regulations and the Company will need
02 Environmental Protection
to invest more resources to meet the requirements of the new regulations such as increasing
Policy Risk Addressing Climate Challenges Supporting Low-Carbon
the investment in environmental protection equipment and improving the production process
Transformation
which will increase the cost of compliance
1For details of the management of related risks please refer to the corresponding sections.
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Risk T风y险pe类型 Description 描述 Corresponding Section1
Climate change has led to changes in the global energy supply and demand pattern and 02 Environmental Protection
Market Risk triggered fluctuations in energy prices which may increase the cost of production processes Optimizing Energy Utilization Achieving Energy
for products such as PV inverters and energy storage devices. Conservation and Consumption Reduction
03 Industry Value
Failure to conduct timely patent searches or protections may lead to infringement disputes or
Patent Risk Strengthening Innovation-Driven Development Leading
the loss of technological exclusivity.the Industry Upgrading
03 Industry Value
Risk of Project Failure to effectively control changes in demands technologies supply chains or targets may
Strengthening Innovation-Driven Development Leading
Change result in wasted resources or schedule delays.the Industry Upgrading
03 Industry Value
Order
Customers cancel orders. Keeping Strict Control of Quality and Safety Fortifying
Management
the Line of Defense for Security
03 Industry Value
Customer
Low customer satisfaction results in the loss of customers. Keeping Strict Control of Quality and Safety Fortifying
Satisfaction
the Line of Defense for Security
03 Industry Value
Product
Delayed delivery of products leads to customer dissatisfaction or claims Keeping Strict Control of Quality and Safety Fortifying
Delivery
the Line of Defense for Security
Supervision and Assessment of Sustainable Development
The Company continuously builds a sustainable development supervision and assessment mechanism. In departmental assessments indicators related to sustainable development are
established in strict alignment with strategic planning and a dynamical evaluation is conducted as per multidimensional indicators such as the achievement of operational goal the
advancement efficiency of key tasks and the effectiveness of transformation of innovation achievements.
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Communications with Stakeholders
Identification of Stakeholders Stakeholders generally refer to individuals or groups whose rights and interests are or may be affected by the activities of the Company.The business development of the Company involves multiple stakeholders. To ensure that this report has accurately focused content
achieves effective communication and meets stakeholders’ demands and expectations the Company conducts stakeholder identification
based on the
Communication Channel for The Company establishes diverse communication channels to widely collect the expectations and suggestions of stakeholders.Stakeholders
Government and
Shareholders and Investors Customers Employees Suppliers Communities Regulatory Agencies Media
General Meeting of Customer Follow-up Employees’ Congress Business Cooperation Social Information Disclosure Roadshows
Shareholders After-sales Service Employee Training Transparent Welfare Inspection and Performance
Information Disclosure Customer Satisfaction Employee Activities Procurement Rural Supervision Briefings
Performance Briefings Surveys Health Checkups Supplier Evaluation
Revitalization Research and Press Conference
SSE E-Interactive and Audit DiscussionTrade Union Press Release
Roadshows
Protection of Corporate Governance Protection of Responsible Supply Contribution Corporate Governance Corporate
shareholders’ Compliance Employees' Legal Chain Management to Society Compliance Governance
Rights and Interests Internal Control and Rights and Interests Corporate Governance Rural Internal Control and Compliance
Corporate Governance Risk Management Training and Compliance revitalization Risk Management: Internal Control
Compliance Communications with Development Internal Control and Tax Compliance and Risk
Internal Control and Stakeholders Occupational Risk Management Management:Anti-Bribery and
Risk Management Innovation and Promotion Health and Safety Anti-Corruption Communications
Communications with with Safety and Quality of Anti-Unfair Competition
Stakeholders StakeholdersProducts and Services
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Management of Material Topics
Assessment Process and Methods of Material Topics Assessment Result of Topic Materiality
In accordance with the assessment methods of domestic and international disclosure standards Matrix of Material Topics
such as the
the Company identified 4 topics with double materiality and 17 Environmental Compliance Responsible Supply Energy UtilizationManagement Chain Management
topics with impact materiality and gives a focused response to them in this report. Response to Climate ChangeCircular economy Protection of
Shareholders’ rights
Pollutant Emissions and Interests Innovation and Promotion
Waste Disposal Corporate Governance Safety and Quality of Products and Services
Materiality Assessment Protection of Employees' ComplianceAssessment Method Legal Rights and InterestsProcess Anti-Bribery and Training and Development Anti-Corruption
Occupational Health and Anti-Unfair Competition
Use the value chain to analyze the ESG-related impacts Safety Tax Compliance
Learn about the Protection of Customers’ risks and opportunities that exist in each topic of the Rights and Interests Internal Control and
background of the Risk Management:
Company Company as well as the claims and expectations of Information Security and Privacy Protection ESG Management
stakeholders.Water Resource Utilization
Ecosystem and Biodiversity
Establish and improve the 2024 topic pool of the Protection
Equal Treatment of Small and
Conduct preliminary Company by reference to topics stated in the standards Medium-Sized Enterprises
topic screening of GRI and SASB as well as main topics of concern in Contribution to Society
Rural Revitalization
the same industry both at home and abroad.Due Diligence
Communications with
Conduct research and analysis on stakeholders in the Stakeholders
Assess the form of surveys and based on survey analysis results
materiality of topics
and expert judgment finally determine 4 topics with
double materiality and 17 topics with impact materiality. Financial Materiality Very high
Topics with Financial Materiality Topics with Impact Materiality
Formulate a list of topics with both impact materiality
Confirm material and Impact Materiality: Rather than Financial Materiality
topics and financial materiality and ensure relevant topics are
disclosed in this report. Topics with Financial Materiality Topics without Impact Materiality
Rather than Impact Materiality nor Financial Materiality
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Very high Materiality of Economic Social and Environmental Impacts01 02 03 04 05 06 07 08
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Topics without Financial Topics with Double Materiality
Materiality or Impact Materiality Description (both Financial Materiality and
Financial Materiality: The water costs account for a very low proportion of the Company’ s total Impact Materiality)
cost and do not pose any significant potential risk exposure;
Water resource utilization Impact Materiality: The consumption and pollution of water resources by production activities of
the Company are negligible and have no significant correlation with industry policies or
stakeholder demands.Financial Materiality: The costs related to ecological protection account for a very low proportion
Ecosystem and of the Company’ s total cost and do not pose any significant potential risk exposure; Environment
Biodiversity Protection Impact Materiality: The direct intervention of production activities on ecosystems is negligible and
has no significant correlation with industry policies or stakeholder demands.The disclosure of this topic applies to any enterprise with accounts payable (including bills Energy Utilization
Equal Treatment of payable) exceeding RMB 30 billion or accounting for more than 50% of its total assets at the end Response to Climate Change
Small and Medium-Sized of the Reporting Period and any enterprise that has publicly disclosed overdue payment to small
Enterprises and medium-sized enterprises through the National Enterprise Credit Information Publicity System
either themselves or through their holding subsidiaries. This topic does not apply to the Company.Financial Materiality: The expenditures related to social contributions account for a very low
proportion of the Company’ s total cost and do not pose any significant potential risk exposure;
Contribution to Society
Impact Materiality: The direct intervention of production activities on social groups is negligible
and has no significant correlation with industry policies or stakeholder demands.Society
Financial Materiality: The expenditures related to rural revitalization account for a very low
proportion of the Company’ s total cost and do not pose any significant potential risk exposure;
Rural revitalization Impact Materiality: The direct intervention of production activities on rural groups is negligible and Innovation-driven Development
has no significant correlation with industry policies or stakeholder demands.Safety and Quality of
Financial Materiality: The expenditures related to due diligence account for a very low proportion Products and Services
of the Company’ s total cost and do not pose any significant potential risk exposure;
Due Diligence
Impact Materiality: The direct intervention of production activities on the supply chain is
negligible and has no significant correlation with industry policies or stakeholder demands.Financial Materiality: The expenditures related to communication account for a very low
Communications with proportion of the Company’ s total cost and do not pose any significant potential risk exposure;
Stakeholders Impact Materiality: The direct intervention of production activities on stakeholders is negligible
and has no significant correlation with industry policies or stakeholder demands.
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Implementing Compliant Corporate Governance
Protecting Stakeholders’ Rights and Interests
Governance In strict compliance with applicable laws and regulations such as General Meeting of Shareholders
through the the
(hereinafter
referred to as the "Company Law") and the
General Meeting The convening holding and voting procedures of the General
(hereinafter referred to as the "Securities Meeting of Shareholders of the Company comply with applicable laws
of Shareholders Law") Hoymiles has formulated management systems such as and regulations such as the
the
the Board of the - -
. (hereinafter
and the
Directors and referred to as the "- -
"). We continuously
-
as well as
the Board of optimize our management system and internal governance regulatory documents and the Articles of Association.structure to effectively protect the legitimate rights and interests
Supervisors of shareholders and other stakeholders. The voting on the proposals at the General Meeting of Shareholders is
conducted through a combination of on-site voting and online voting.To safeguard the investment interests and legal rights of minority
shareholders significant matters affecting the interests of minority
General Meeting of investors are subject to separate voting for minority shareholders and
Shareholders
a law firm is hired to issue a legal opinion for the General Meetings of
Board of Shareholders.Supervisors Audit Committee
Nomination Committee
Secretary of the During the Reporting Period
Board of Directors Board of Directors Remuneration and
Assessment Committee
Strategy Committee The Company held a total of 5 General Meetings of Shareholders
Deputy General
Manager General Manager including 1 Annual General Meeting of Shareholders and 4
Extraordinary General Meetings of Shareholders at which 20
Governance Structure proposals were reviewed.
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Board of Directors Names of
Specialized Composition
The Board of Directors of the Company accountable to the General Meeting of Committees
Chairperson: Ms. Zhu Hongxia (Independent Director)
Shareholders reviews major matters in the business activities of the Company and
Audit (Accounting Professional)
makes decisions or submits them to the General Meeting of Shareholders for approval. Committee Member: Mr. Mao Chen
In strict compliance with the provisions and requirements of the
Member: Mr. Ye Weiwei (Independent Director)
- -
and the Hoymiles clarifies
the scope of authority of the Board of Directors improves and standardizes the
operation of the Board of Directors in aspects such as the procedures of convening Chairperson: Mr. Chen Xiaoming (Independent Director)
Nomination
meetings and reviewing proposals voting as well as voting modes and resolution Member: Mr. Shao JianxiongCommittee
content thereby fully utilizing the decision-making role of the Board of Directors. Member: Ms. Zhu Hongxia (Independent Director)
During the Reporting Period
Remuneration Chairperson: Mr. Ye Weiwei (Independent Director)
and Assessment Member: Mr. Chen Xiaoming (Independent Director)
13 Committee Member: Ms. Shao JianyingThe Company held meetings of the Board of Directors at which 52
proposals were reviewed and approved with the attendance rate of directors being
100% Chairperson: Mr. Shao Jianxiong. Strategy Member: Mr. Yang BoCommittee
Member: Mr. Ye Weiwei (Independent Director)
Independence
The Board of Directors consists of four specialized committees: the Audit Committee The independent directors account for the majority of the Audit Committee the
the Nomination Committee the Remuneration and Assessment Committee and the Remuneration and Assessment Committee and the Nomination Committee under the
Strategy Committee. These committees assist the Board of Directors in fulfilling its Board of Directors and Ms. Zhu Hongxia the Chairperson of the Audit Committee is an
decision-making and monitoring functions and play an important role in promoting accounting professional which complies with the applicable laws and regulations and the
the standardized operation and healthy development of the Company. provisions of the - -
During the Reporting Period
The Company held a total of 9 meetings of specialized committees at which 25 proposals were reviewed with the attendance rate of committee members being 100%.
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Diversity
In alignment with the Measures for the Administration of The Company is committed to building a diversified team for the Board of Directors by giving full
Independent Directors of Listed Companies and the consideration to factors such as the gender educational background and specialty of its members which
Shanghai Stock Exchange Self-Regulatory Guidelines for helps to improve the quality of decision-making by the Board of Directors.Listed Companies on STAR Market No. 1 - Standardized
Operation Hoymiles has formulated the System of Work of
Education
Independent Directors clearly defining the responsibilities Members of the AgeBoard of Directors Gender Background Specialty
and performance guarantees of independent directors to
ensure that independent directors can effectively exercise Shao Jianxiong 61 years old Male Bachelor’ s Degree PV Industry
their powers. Additionally the Company stipulates that
independent directors should diligently perform their Yang Bo 44 years old Male Doctoral Degree PV Industry
duties play a role in decision-making supervision and
balance and professional consultation within the Board of Zhou Lei 43 years old Male Bachelor’ s Degree PV Industry
Directors safeguard the overall interests of the Company
Zhao Yi 42 years old Male Doctoral Degree PV Industry
and protect the legitimate rights and interests of minority
shareholders.Shao Jianying 58 years old Female College Degree PV Industry
Mao Chen 44 years old Male Doctoral Degree PV Industry
As of the end of the Reporting Period Chen Xiaoming 58 years old Male Bachelor’ s Degree Law
Ye Weiwei 56 years old Male Doctoral Degree Business Management
As of the end of the Reporting Period the Company
3 Zhu Hongxia 50 years old Female Bachelor’ s Degree Accountinghad independent directors accounting for
33.33% of the total directors.
As of the end of the Reporting Period
The Company had 9 directors including 2 female directors accounting for 22.22% of the total.
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Management of Remuneration for Directors
Board of Supervisors Supervisors and Senior Management
The Company elects Supervisors in strict accordance with the Pursuant to the
and the - -
the Company establishes relevant remuneration and
selection and appointment procedures stipulated in the
assessment systems and creates a comprehensive remuneration and assessment system for directors
and the - -
and all supervisors carry out their supervisors and senior management. Based on internal relevant systems and the actual operation needs of the
work in accordance with the - -
the Company and by reference to industry and regional salary levels the Company has formulated a remuneration
and other relevant regulations package for directors supervisors and senior management for 2024 which fully motivates directors
and effectively perform their supervisory duties and effectively
supervisors and senior management help to improve operational efficiency and quality and ensure the
supervise the Company's material matters financial operations
achievement of the operational goals of the Company.and the compliance of the performance of duties by the directors
and senior management. The directors supervisors and senior management of the Company receive remuneration in accordance with the
The Board of Supervisors consists of 3 supervisors including 1 relevant remuneration management system of the Company.employee representative supervisor. During the Reporting Period
the convening and voting procedures of the Board of Supervisors
were in compliance with the
the - -
Total Pre-Tax Remuneration Received by Directors Supervisors
and other relevant provisions. and Senior Management from the Company (in RMB 10000) 2024 2023 2022
During the Reporting Period
2024466.80
The Company held 7 meetings of the Board of Supervisors
2023556.05
at which 28 proposals were reviewed and approved with
2022617.81
an attendance rate of supervisors being 100%.
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Compliant Operation
Hoymiles attaches great importance to the construction of the risk compliance governance system and adheres to the philosophy of compliance management with risk
management as the core internal control as the means and compliance management as the basis. We are committed to building a virtuous cycle of risk management to promote
the high-quality development of the Company.Compliance Management System Training on Compliance
To establish and improve the Company's compliance management Hoymiles attaches great importance to the cultivation of compliance culture continuously strengthens
system perfect the compliance management mechanism clarify employees' awareness of compliance and improves the level of compliance management of the Company by
compliance responsibilities cultivate a compliance culture and regularly organizing employees to participate in themed training on compliance. In 2024 all directors
ensure lawful and compliant operation the Company in strict supervisors and senior management of the Company completed the compliance training on the independent
compliance with the
and other applicable laws and director system organized by the Shanghai Stock Exchange and then all independent directors to participate in
regulations and in combination with the realities of the Company follow-up training. In addition the personnel of the Office of the Board of Directors were arranged to attend a
formulates compliance management systems such as the
specialized training on the "sustainability (ESG) report" for listed companies organized by the Shanghai Stock
. This effort aims to establish and Exchange.improve the compliance management system optimize the
operation mechanism and define the compliance responsibility During the Reporting Period
thus ensuring the compliant operations of the Company.The Company offered 3 training sessions on compliance with 18 person-times of participants and a
During the Reporting Period
total duration of 54 hours.No negative incident in the field of compliance occurred
in the Company.
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Risk Management
In accordance with applicable laws and regulations and relevant policies the Company has formulated risk management
systems such as the
the
the
and the
to standardize risk To continuously strengthen compliance
management efforts continuously optimize risk management processes and effectively enhance risk handling prevention management and the construction of a risk
and control capabilities. prevention and control system the Company
has formulated a special risk assessment
To achieve the effective management of risk prevention and control the Company has established a risk prevention and system for major decisions on the basis of the
control system led by the Board of Directors with the Chairman serving as the highest leader of risk control and the establishment of a long-term mechanism for
Audit Committee/Audit and Supervision Department acting as the decision-making and management body to fully dynamic risk assessment. Each functional
implement the risk prevention and control responsibilities of all relevant parties. department shall prepare feasibility study
plans and carry out special risk assessment
when studying and formulating matters
involving major business decisions (including
Board of Directors Audit Committee/Audit and
Supervision Department but not limited to major investment projects
Leading Decision-Making asset disposal etc.) and finally form a written Implement all guidelines Body and ManagementBody Comprehensively identify assess
report to be reviewed and approved at the
policies and work arrangements
and manage risks in the Company meeting of the executive management team.for risk prevention and control The implementation of this system is beneficial
for the Company to achieve full-process risk
Risk Prevention and Control Responsibility System management in the decision-making process
effectively ensuring the scientific
implementation and stable operation of the
Company's strategic planning.
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Tax Risk Management
Hoymiles enhances internal management and risk prevention by developing four core centers: the
Labor Relation Classification and Risk Prevention
Master Data Management Center the Global Inventory Center the Connected Transactions
Center and the Global Planning and Order Center. These centers equipped with built-in
compliance checks and risk warnings can automatically verify the pricing reasonableness of In 2024 the Company offered training on "Labor Relations
connected transactions to ensure compliance. This effectively mitigates tax risks that may arise Classification and Risk Prevention". The training primarily
from improper tax handling of connected transactions and strengthens the control of tax risks covered the basics of labor relations and legal frameworks risk
through internal management processes. identification and prevention strategies and response measures.It provided systematic learning courses to help the Company
achieve employment compliance scientific rick management
Indicator Unit 2022 2023 2024 and prevention as well as harmonious labor relations thereby
ensuring the stable operation of the Company.Total Tax Payment RMB10000 17304.92 28605.27 21202.88
Training on Risk Management
During the Reporting Period the Company organized special training on risk management to
continuously strengthen employees' awareness of risk prevention and control through systematic
training. This effort helped the Company enhance risk identification and response capabilities and
built up risk prevention and control barriers for the sustainable development of the Company.During the Reporting Period
The Company offered 2 training sessions on risk management with 46 person-times of
participants and a total training duration of 86.5 hours.
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Internal Control Investor Relations Management and
Shareholders’ Rights and Interests
The Company has established an internal audit system in accordance with the
and other laws and regulations and the Audit and Supervision Communication with Investors
Department carries out supervision inspection and assessment of the completeness
reasonableness and operational effectiveness of the internal control system and conducts audits Hoymiles attaches great importance to the protection of legitimate rights and
on the legality compliance authenticity and completeness of accounting vouchers ledgers and interests of shareholders and other stakeholders. In accordance with the
other economic materials and related economic activities. Through systematic auditing work we
the
continuously optimize our internal control mechanisms and financial accounting processes
-
and
ensuring that the internal control system and financial accounting comply with laws regulations other laws regulations and normative documents the Company has formulated
and internal management standards. As of the end of the Reporting Period the Company has the
to regulate the interaction and demand
completed the 2024 -
-
handling between the Company and investors.Hoymiles always regards the optimization and enhancement of internal management as a The Company actively communicates and exchanges with investors through
necessary path for sustainable development. By introducing advanced auditing philosophy and various channels including performance briefings investor hotlines and SSE
methods setting up a professional auditing team and conducting an all-round review of the key E-Interactive to effectively safeguard the legitimate rights and interests of
business areas we create a standardized and efficient development environment and help to investors and promote the construction of a long-term stable mutually trusting
steadily increase our value in the market. and beneficial cooperative relationship between the Company and investors.During the Reporting Period As of the end of the Reporting Period 2024
Participation in Road Performance Briefings
The Company implemented a total of nine 75 Shows & Strategy Meetings Convenedaudit projects involving nine fields including Total of issues were identified for
supply chain fixed assets quality and 70 49times 3times97 rectification amongst which have production revealing issues and been rectified with a rectification Interactions with Investors on SSE E-Interactive
proposed corresponding improvement
suggestions for these issues. completion rate of 93%. 13times
Note: Some issues to be rectified require cross-year continuation due to long-term resource allocation and other
reasons. The Company has formulated a corresponding plan to continue the rectification in 2025.
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Information Disclosure Management Shareholders’ Rights and Interests
In strict compliance with the -
The Company has formulated scientific and effective profit distribution decision-making procedures and adjustment
and other mechanisms to ensure that the entire distribution process is open and transparent to fully safeguard minority
related rules the Company has formulated systems such shareholders’ right to information and participation and effectively safeguard their legitimate rights and interests.as the
and the
to regulate the Company's information disclosure
Indicator 2024 2023 2022
behavior strengthen information disclosure management
and effectively improve the quality of information
disclosure. Cash Dividend per Share (RMB)
The Company always adheres to the principles of 3.2
openness fairness and justice in disclosing information. 6.0
Through disclosure channels such as the website of the
Shanghai Stock Exchange Shanghai Securities Journal 5.3
and China Securities Journal the Company discloses
information in a timely and accurate manner ensuring
that all investors have equal rights to information. Total Cash Dividend (Including Tax) (RMB 10000)
39603.97
49649.03
During the Reporting Period
29547.50
4 76 Proportion to Net Profit Attributable to Shareholders of theThe Company disclosed periodic reports and Listed Company in Consolidated Financial Statements (%）
interim announcements. The Company was penalized 115.06
for 0 violations related to information disclosure. 97.00
55.49
In 2024 the Company obtained an "A" rating in Note: The cash dividend per share for 2023 is the sum of the 2023 semi-annual cash dividend (2.4 yuan per share)
information disclosure. and the 2023 annual cash dividend (3.6 yuan per share).
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Adhering to Integrity and Anti-Corruption
Sticking to the Bottom Line of Integrity
Anti-bribery and Anti-corruption System
In strict compliance with laws and regulations such as the-
the
-
and the
-
the Company has developed and published internal management systems such as During the Reporting Period
the
to strengthen employees’ awareness of business ethics shape the culture of honesty and
integrity win the recognition of society and clarify the code of conduct for employees. The Company did not have any corruption
incidents and the signing rate of the
The Company requires employees to sign the
-
the
-
the
when they join the Company and provides training on business ethics to all employees to ensure they
for new employees was 100%.understand and comply with relevant policies. The Company also signs the -
with its
partners.Number of Employees Participating
The Company offers anti-corruption training for management and all employees every year promoting the integration of in Training
integrity culture with corporate governance and business injecting "integrity power" into corporate governance. 25persons
Specialized Training on Integrity
Total Hours of Employee Training
In 2024 the Company organized colleagues
and leaders from related departments to 25hours
participate in anti-fraud training. The training
centered on discipline contract law
malpractices provisions of laws and corporate Average Training Hours per Employee
culture aiming to enhance compliance
awareness and standardize the work behaviors 1hour/person
of the personnel of the Purchasing Department.
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Measures for Anti-Bribery and Anti-Corruption
Business Ethics Risk Management
The Company has established a control mechanism for anti-commercial bribery and anti-corruption The Human Resources Center is responsible for promoting integrity management
to promote the construction of an anti-commercial bribery and anti-corruption risk management and organizing the signing of the
. The Administration
system. In addition the Company has formulated the
to standardize the Center is responsible for registering storing and handling items voluntarily
integrity management of employees publicize the culture of integrity create a good corporate submitted by employees. The Audit and Supervision Department is responsible
culture resist undesirable cultures and promote the formation of a cultural atmosphere of for collecting auditing and verifying integrity-related complaints and reports.anti-corruption and integrity.Regulations on Integrity and Self-Discipline Measures for Integrity Management
Employees are not allowed to accept gifts such as cigarettes alcohol or cash
Prohibition of Signing of the Commitment to Integrity
Accepting Benefits from business units or individuals; they are not allowed to accept gifts or
invitations that may influence the Company's management policies. Sign the Commitment to Integrity
Employees are prohibited from reimbursing expenses that should be paid Supervision and ReportingProhibition of Improper
Reimbursement personally through company business reimbursement. Strengthen inspection and supervision reports establish
channels for collecting regulatory information and
Employees are not allowed to illegally collect kickbacks or other personal publish regulatory emails and complaint phone numbers.Prohibition of
Improper Profit profits during economic transactions; they are not allowed to engage in
favoritism or fraud in project bidding. Improvement of Internal Control Mechanisms
Enhance the internal control mechanisms of the Company.Prohibition of No employee shall make promises on behalf of the Company without prior
Unauthorized Promises approval of the Company. Promotion of Systems and Regulations
Strengthen the promotion of integrity-related systems and
Prohibition of Public funds must not be used for personal banquets and public relations or regulations.Improper Hospitality business receptions must not be conducted in violation of reception regulations.If an employee violates the regulations on integrity and self-discipline or the
Prohibition of Employees must not utilize their position for illegal appropriation of any commitment to integrity the Company will terminate the employment
Misappropriation of
Company Property property of the Company. contract and will never rehire them. In severe cases the matter will be
handed over to judicial authorities for handling.
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Construction of Whistleblowing Channels
The Company advocates for full participation in internal governance and is committed to building a fair
transparent and compliant corporate culture. We have established multi-dimensional reporting channels such
as telephone anonymous mailboxes and letters and open all monitoring channels to all employees and Whistleblowing Channels
partners to ensure that stakeholders participate in corporate governance through a transparent mechanism.Acceptance Department:
Audit and Supervision Department
Upon receipt of a report the Audit and Supervision Department will review and handle the matter in
accordance with the process of recording assessment investigation result evaluation rectification measures Anonymous Reporting Email:
and feedback results to ensure that the report is properly handled and promptly inform the whistleblower of
audit@hoymiles.com
the handling results. The Company undertakes to strictly protect the privacy of the whistleblower and will
not disclose the whistleblower's personal information without his/her consent.In addition the Company strictly prohibits any form of retaliation against the whistleblower. Once retaliation Whistleblowing Hotline:
is found the Company will be given disciplinary action in accordance with applicable laws with the 0571-28056110
maximum penalty being the termination of the employment relationship. We also strengthen the construction
and improvement of the whistleblower protection mechanism to ensure the safety rights and interests of the
whistleblower are protected properly. Reporting Address:
Audit and Supervision Department Floor
Conflict of Interest 16 Building 5 Caizhi SF Innovation
Center No. 99 Housheng Street
The
formulated by the Company requires employees to avoid any situation that may Kangqiao Avenue Gongshu District
involve conflicts of interest between personal and company interests or may lead to such conflicts and to Hangzhou City Zhejiang Province China
refuse participation in any conflicting activities. If a situation arises that may cause a conflict of interest
between the interests of Hoymiles and that of any individuals employees must immediately report to their
superiors and seek guidance.
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Anti-Unfair Competition Anti-Money Laundering
Hoymiles strictly adheres to the principles of fair market competition and the applicable regulations on fair Money Laundering refers to the act of covering up and
competition in the business locations to maintain a good market order protect the rights and interests of consumers concealing the source and nature of illegally obtained
and enhance the Company's reputation in the market. Meanwhile we avoid participating in or implementing funds by various means so as to make them legalized
monopolistic behaviors or any acts that restrict or hinder fair market competition such as: reaching agreements with in form. Hoymiles commits to comply with anti-money
other competitors on fixed prices market division or production limitation or abusing market dominance such as laundering laws and never provides any facilitation for
predatory pricing refusal to deal and tying sales to firmly oppose all forms of unfair competition.money laundering activities. All employees are required
Hoymiles strictly implements the marketing management system by clearly defining the responsibilities and to be vigilant about any suspicious transactions when
behavioral norms of the marketing team combined with a dynamic supervision and evaluation mechanism for the conducting business to ensure that they are not
entire marketing process. This ensures the marketing system operates in compliance efficiency and collaboration involved in any form of money laundering activities.and continuously promotes the healthy business development of the Company.During the Reporting Period
Training on Responsible Marketing Number of Participants in Total Duration of Training on No incidents related to unfair
1 Training on Responsible Marketing Responsible Marketing competition or monopoly occurred time 94persons 1504 in the Company.hours
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02
Environmental
Protection
Responding to Climate Challenges
Assisting in Low-carbon Transformation
Improving Environmental Management
Safeguarding Environmental Protection
Boundaries
Optimizing Energy Utilization Achieving
Energy Conservation and Consumption
Reduction
Exploring Material Circulation Improving
Resource Efficiency
Protecting Ecological Balance
Maintaining Biological Diversity
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Responding to Climate
Challenges
Assisting in Low-carbon
Transformation
Under the background of the global active response to climate change and the
vigorous advocacy of green and sustainable development Hoymiles in alignment
with the national carbon peaking and carbon neutrality" policy goals and by
reference to the TCFD Recommendations actively establishes and improves the
Company's climate change management system systematically deploys climate
change risk management and reduces GHG emissions. The Company deeply
understands its responsibility and mission in responding to climate change and
is committed to leading the industry towards a green transformation through
practical actions and contributing to global climate governance.Governance to Address Climate Change Strategies to Address Climate
Change
Hoymiles attaches great importance to efforts for addressing climate change and actively builds a Relying on a comprehensive risk management framework Hoymiles
governance system led by the Board of Directors and centered on the Executive Management Team comprehensively examines and measures the impact of climate
Meeting ( “EMT Meeting” ). Among others the EMT Meeting as the core of strategic decision-making factors in its value chain analyzes the typical climate risks and
fully considers the impact of climate change factors on the long-term development of the Company when potential opportunities in each link of the value chain in depth and
considering the Company's development strategy major investment decisions and other matters ensuring scientifically predicts the financial effects that may be generated by
that the Company’ s strategy aligns with the goals of addressing climate change. Other departments of these elements. On this basis the Company has designed a set of
the Company leveraging their professional advantages provide technical and other support for the targeted climate risk response and opportunity-seizing strategies
specific implementation of the decisions of the Board of Directors thereby building a strong synergy to taking into account the demands of key stakeholders such as
effectively support the Company's climate change efforts. This guarantees the Company's efficient customers employees and suppliers and the Company's long-term
decision-making and synergistic promotion in addressing climate change and realizes the organic fusion strategic plan to lead the Company into a new chapter of green
of the Company's objective of addressing climate change and its overall development strategy. and sustainable development.
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Value Chain
Likelihood
Risk Type Risk Description of Risk Links Impact
Financial
of Impact Response StrategyDrivers Where the Duration
Occurrence
Risk Occurs
Increase in Formulate emergency response plans to ensure quick response
An increase in the frequency and intensity equipment in the event of extreme climate events;
Short
Extreme of extreme climate (e.g. typhoons floods maintenance costs Strengthen resistance of facilities such as reinforcing plants
Physical Production and
Climate or high temperatures) may lead to Medium production standstill and drainage systems and setting up emergency power supply
Risk process medium
Events production interruption equipment losses and mechanisms;
term
damage and supply chain disruption. liquidated damages Establish emergency communication mechanisms with suppliers
for delivery delays to ensure continuity of the supply chain
The government may introduce stricter Regularly pay attention to the updates of climate
climate change regulations and the Company change-related regulations;
Changes in will need to invest more resources to meet Production
Medium Increase in
Policy Policies the requirements of the new regulations and Formulate and implement energy-saving and emission-reduction
Medium and long compliance
Risk Laws and such as increasing the investment in operation plans; promote the construction of PV and energy storage
term costs
Regulations environmental protection equipment and processes equipment in the plant area increase the proportion of
improving the production process which will renewable energy usage reduce reliance on traditional energy
increase the cost of compliance and align with green development regulatory guidance.Value Chain
Opportunity Likelihood Financial
Opportunities Description of Opportunity Links Where the Impact
Type of Realization StrategyOpportunity Duration Impact
Occurrence
Occurs
As enterprises and consumers place Gain a deep understanding of market demand and accurately
increasing importance on energy
Increasing target the customer base;
conservation and emission reduction the Medium Increase in
Market Demand Downstream Increase investment in R&D and launch innovative and
Company can develop and promote High and long sales revenue
Opportunities for Green value chain competitive energy-saving products;
energy-saving PV inverters energy storage term and profits
Products
systems and other energy-efficient products Actively carry out marketing activities to publicize the advantages
gaining more business opportunities. of products in energy conservation and emission reduction.Note: 1. Likelihood of occurrence: low likelihood means the risk/opportunity has a very small chance of occurrence typically almost never occurring based on past experiences or being rare in the industry; medium
likelihood means the risk/opportunity has a moderate chance of occurrence and may happen within a certain time frame with some historical cases but not frequent; high likelihood means the risk/opportunity has
a high chance of occurrence usually frequent in business processes with multiple relevant historical cases.
2. Impact Duration: the short term means the impact on the Company is usually rapid and temporary lasting for a short period typically not exceeding 1(inclusive) year; the medium term means the impact on the
Company is relatively sustained typically having a significant impact within 1 to 5 (inclusive) years; the long term means the impact on the Company is profound and lasting usually lasting more than 5 years.
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Management of Impact Risk and Opportunity to Address Climate Change
Hoymiles attaches great importance to the profound impact of climate change on corporate operations and sustainable development and actively establishes a scientific climate risk and
opportunity management system. We formulate the
and regularly prepare the
-
and -
In
terms of management processes the Quality Management Department of the Company organizes the identification and determination of potential risks and emerging opportunities
related to climate change at the beginning of each year. Each center (department) combines qualitative and quantitative methods to conduct in-depth assessments and based on the
severity frequency and opportunity potential of the risks determines the corresponding coefficients providing a basis for the planning of response measures. After developing feasible
response strategies and clarifying the responsible departments the Quality Management Department continuously follows up on the execution of these measures organizing reviews at
regular intervals and increasing the frequency of reviews in specific circumstances such as regulatory changes or corporate structural adjustments. Each center (department) is
responsible for the identification evaluation and formulation and implementation of response measures related to risks and opportunities within its business. Through this series of
measures Hoymiles continuously enhances its ability to respond to climate change laying a solid foundation for the Company to address climate change and achieve sustainable
development.Risk Acceptance Risk Mitigation Risk Avoidance
Applicable to low risks such as small and Applicable to general risks where the cost of Applicable to high risks such as the impacts of
repetitive losses no effective reduction or avoidance measures is too high cannot be losses are significant where feasible changes
avoidance measures and a risk coefficient eliminated or has no effective avoidance measures reduce the chances of loss and the extent of
lower than 4. in place with a risk coefficient ranging from 5 to 14. losses and risk coefficients are higher than 14.Metrics and Targets to Address Climate Change
Hoymiles has formulated targeted and forward-looking metrics and targets for addressing climate change taking into account international and domestic policy guidance for addressing
climate change and the Company's business expertise and technological advantages in the fields of PV and energy storage. Currently the Company has set key objectives such as
reducing carbon emissions increasing the proportion of renewable energy usage and lowering energy consumption per unit of products and we have broken down these overall targets
into specific departments and business segments. Meanwhile the Company uses regular assessments and dynamic adjustment mechanisms to optimize metrics and targets in a timely
manner based on actual execution market changes and technological advancements ensuring that the Company’ s climate change response efforts can progress steadily. In the future
the Company will gradually enhance the challenge of the target of addressing climate change and continuously increase the investment in fields such as the application of green energy
and the R&D of low-carbon technologies to realize a more ambitious target of addressing climate change.
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Improving Environmental Management Safeguarding
Environmental Protection Boundaries
Improvement of Environmental Management System
In strict compliance with applicable laws and regulations such as the followed up for implementation. In addition the Company regards During the
as well as training on environmental management as an important initiative to Reporting Period
relevant standards such as
enhance employees' awareness of energy conservation and climate
Hoymiles has formulated action and strengthen their environmental management capability. We No major
internal documents such as the
regularly prepare the annual
and carry out training environmental
and established a detailed and comprehensive on environmental management in an orderly manner on topics such as accidents or
environmental management system and operational processes to clearly basic knowledge of environmental protection awareness enhancement
define the responsibilities and authorities of each department in and the safe handling and management of hazardous waste. Through the environmental
environmental management. Additionally the Company regularly implementation of this series of comprehensive measures Hoymiles violations occurred
conducts internal audits and management reviews. Based on the results continuously enhances environmental management level ensures that in the Company.of these audits and reviews issues and shortcomings in the operation of the Company’s environmental protection work consistently complies with
the environmental management system are identified in a timely regulatory requirements and provides solid institutional support for the
manner. Targeted improvement measures are then formulated and Company’s environmental management efforts.Hoymiles and its wholly-owned subsidiaries (i.e. Zhejiang Hoymiles Hangzhou Heli Haining Hengli and Zhejiang Henghe2) have all passed the ISO 14001:2015 (including GB/T
24001) Environmental Management System Certification.
Environmental Management System Certification Certificate
Hoymiles Zhejiang Hoymiles Hangzhou Heli Haining Hengli Zhejiang Henghe
2Environmental Management System Certification of Zhejiang Henghe officially takes effect in January 2025.
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Environmental Monitoring and Environmental Impact Assessment (EIA) Acceptance
Hoymiles attaches great importance to environmental monitoring and EIA of projects. Its subsidiaries strictly implement relevant work requirements. From the beginning of new projects
the Company commissions third-party testing agencies with professional qualifications to conduct EIA and regular environmental testing of pollutants such as wastewater waste gas
and noise. The Company regularly calibrates maintains and updates monitoring equipment to ensure the stability of equipment performance. We also strengthen the professional
training of monitoring personnel enhance their operational skills and data interpretation abilities and ensure the efficient execution of monitoring work. Through comprehensive and
standardized environmental monitoring work the subsidiaries can accurately control the pollution emissions on project sites achieve scientific management of water air noise and solid
waste emissions effectively guarantee the project operation in line with the requirements of environmental protection and set up a good image of corporate environmental protection.Testing of Wastewater Waste Gas and Solid 2024 Environmental Impact Assessment of
Waste of Hengming Electronics in 2024 Microinverter Project of Hengming Electronic
According to the
According to the Environmental Impact Reporting Form (Pollution Impact) for
the Company monitors both organized (such as DA002 welding Construction Projects the Company commissioned professional units to carry out
fume exhaust pipes) and unorganized waste gas emissions covering indicators studies on the environmental impact of products and considered the degree of
such as particulate matter ammonia hydrogen sulfide and odor concentration. compatibility between the project planning and the local land use planning as
The monitoring results comply with the relevant standards required by regulatory well as compliance with the red line of ecological protection the bottom line of
documents such as
-
In environmental quality the upper line of resource utilization and the ecological
wastewater monitoring the Company tests the pH value chemical oxygen environment zoning access. During the construction of the project the Company
demand suspended solids ammonia nitrogen and five-day biochemical oxygen strictly implements the EIA standards and carries out targeted treatment and
demand at the domestic sewage discharge outlet. All indicators at the sewage disposal of waste gas waste water noise and solid waste. After the completion
discharge outlet meet the requirements for Level-3 Limits as stated in of the project the Company carries out acceptance work in accordance with
and
relevant regulations to ensure that all environmental protection facilities operate
In terms of noise stably and pollutants are discharged within the required standards. Additionally
monitoring the Company sets multiple monitoring points at the plant boundary the Company has established a comprehensive environmental risk prevention
according to the
and control system prepared emergency plans and conducted regular drills to
to ensure that both daytime and nighttime noise levels meet the continuously improve its ability to address environmental risks. This ensures that
limits required for Class 2 areas. the full-lifecycle compliance of our projects with environmental protection
requirements and embodies the philosophy of sustainable development.
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Emergency Response Plans and Drills Management of Wastewater
Against Environmental Risk Waste Gas Solid Waste and Noise
To enhance the ability to respond to emergency environmental events Hoymiles regularly Adhering to sustainable development Hoymiles attaches great importance to the
prepares
against environmental risks at the subsidiary level actively management of waste gas wastewater solid waste and noise and strictly abides by
carries out environmental management emergency drills and compiles the the relevant national laws and regulations and industrial standards. We have prepared
. In 2024 the Company conducted three emergency drills for hazardous the
the
chemical leakage to test employees' emergency response speed leakage handling skills
and other institutional documents related to
and coordination capabilities between departments. These emergency drills for pollutant treatment and established a system to manage waste gas wastewater and
environmental management have help the Company accumulate valuable experience in solid waste through source control process management and end treatment.responding to sudden environmental events such as hazardous chemical leakages further Meanwhile the Company continuously promotes internal management optimization
improve its environmental emergency management system effectively control and technological innovation regularly evaluates and improves management
environmental risks within acceptable limits and demonstrate the high attention and processes and measures and strives to enhance pollution reduction and treatment
proactive efforts of Hoymiles in environmental safety management thus laying a solid capacity taking practical actions to promote green development and contribute to
safety foundation for the sustainable development of the Company. building a green ecological environment.Emergency Drill of Hazardous Chemical Waste Gas Treatment
Leakage in Hoymiles Park in SuzhouThe Company adopts the advanced treatment process of “dry filtration + activated carbonadsorption/desorption + catalytic combustion” to treat the waste gas generated by catalytic
combustion and other production processes. The organic mixed waste gases to be treated first
On November 1 2024 the Hoymiles Park in Suzhou conducted an emergency
pass through an induced draft fan where particulate matter is deeply removed through a dry
drill for hazardous chemical leakages with participation from relevant filter. They then enter an activated carbon adsorption chamber where the VOC components are
personnel engaged in R&D warehouse material facility administration and effectively absorbed and the clean air is discharged through a chimney. Some of the saturated
security. The drill simulated the leakage of alcohol from the explosion-proof honeycomb carbon is then desorbed using heated gas. The desorbed concentrated organic waste
cabinet of hazardous chemicals which enhanced the employees’ mastery of gases are sent to the catalytic furnace for catalytic combustion and discharged after being
the emergency treatment process of hazardous chemicals leakage improved converted into carbon dioxide and water vapor. According to the
the waste gas treatment equipment should be operated
the Company's ability to respond and take emergency measures to such synchronously with the production process equipment and the untreated waste gas shall not be
environmental emergencies and effectively reduced the risk of pollution directly discharged. The Facility Department is responsible for daily inspection regular
caused by the leakage of hazardous chemicals to the environment. maintenance replacement of consumables and organization of monitoring. The user departments
must ensure the normal operation of the waste gas collection facilities and promptly report any
faults for repair to ensure the stable operation of the waste gas treatment facilities.
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Wastewater Treatment Noise Treatment
The wastewater generated by the projects of Hoymiles is mainly domestic sewage. The The Company has developed solutions to address noise generated by project equipment
domestic sewage undergoes pre-treatment in a septic tank which effectively removes operations from multiple dimensions. In planning and layout the Company following the
some pollutants from the wastewater before it is directed into the sewage network of principles of "separating noisy and quiet areas" and "making a rational layout" concentrates
the park. The treated wastewater meets the Level-3 standard as stated in high-noise equipment in the central area of the plant area to reduce the impact on
(For treatment of ammonia nitrogen and total surrounding areas. For technical noise control the Company installs basic vibration isolation
phosphorus please refer to Tabel 1 of
or shell damping on equipment to reduce noise generation and propagation; provides
To ensure the effectiveness silencers on equipment fans to further reduce noise intensity; and places air compressors in
and stability of wastewater treatment the Company regularly employs professional soundproof rooms for focused noise reduction. In terms of management measures the
testing organizations to test the sewage effluent at the sewage outlets and pay close Company requires that doors and windows be closed during production to create a closed
attention to the sewage discharge indicators. In addition efforts are made to have noise-reduction space; strengthens vehicle management regulations strictly forbidding
wastewater treatment facilities regularly inspected and maintained ensure the normal vehicle horn use and low-speed driving within the plant area to reduce mobile noise
operation of the equipment strictly control the discharge of wastewater to meet the sources; and enhances equipment maintenance to ensure that equipment operates in good
standards and effectively reduce the impact on the surrounding water environment. condition and avoid additional noise from equipment failures.Solid Waste Treatment
For hazardous waste and general solid waste the Company categorizes and processes
waste internally based on its waste flow. For general solid waste the Company adopts Key Performance Unit 2024
methods such as comprehensive utilization harmless disposal or landfill to avoid
environmental pollution. For hazardous waste the Company strictly adheres to Waste Gas Emission 10000 m3 4066.7
relevant regulations in the processes of collection labeling storage treatment and
transportation to ensure that the records match with materials the waste is disposed
of legally and information is entered in a timely manner with retention of copies. The Wastewater Discharges Ton 23171
temporary storage warehouse of hazardous waste has perfect protection measures
such as windproof sunproof rainproof leakproof seepage-proof and anticorrosion Total Quantity of Waste Recycled Ton 54.0600
measures and is equipped with corresponding safety equipment and warning signs.Each department has specific responsibilities in hazardous waste management. For Volume of Hazardous Waste Generated Ton 38.3625
example the Facility Department is responsible for system formulation plan
submission reception and storage recordkeeping disposal coordination and
supervision and inspection; the Engineering Department assists in introducing Volume of Hazardous Waste Disposal Ton 38.2745
low-waste production processes; and other relevant departments are responsible for
source reduction classified collection and standardized temporary storage.
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Types of Wastewater Pollutants:
Region Types of Hazardous Waste Emissions Unit 2024
Waste Cleaning Agent Packaging Key Performance Unit 2024
Waste Sealing Glue Packaging Waste Ton 4.8755
Rags Waste Filter Cotton (HW49) Chemical Oxygen Demand (COD) Ton 4.226
Waste Filling Glue (HW13) Ton 32.0395 Five-day Biochemical Oxygen Demand (BOD5) Ton 0.314
Paint Sludge and Waste Cleaning Suspended Solids Ton 1.410
Ton 0.4265Agent (HW12)
Ammonia Nitrogen (NH3-N) Ton 0.276
Hangzhou
Used Circuit Boards (HW49) Ton 0.0135
Total Phosphorus (Calculated at P) Ton 0.017
Waste Cleaning Liquid (HW49) Ton 0.5045
pH / 8.430
Waste Activated Carbon (HW49) Ton 0.294
Waste Toner Cartridges (HW49) Ton 0.011 Metrics and Targets for
Waste Coolant (HW06) Environmental ManagementTon 0.075
Hoymiles has established clear environmental management metrics and targets in terms of waste gas
Suzhou Waste Packaging (HW49) Ton 0.02 wastewater and noise taking into account the policies regulations industry standards and the actual
situation of the Company's own operations. The Company carries out scientific monthly dismantling of
Waste activated carbon (HW49) Ton 0.015 these overall targets refines the responsibilities to specific departments and regularly prepares
documents such as the Breakdown of Annual Management Targets and the Annual Targets Data Statistics
Packaging Materials Contaminated Table. In 2024 the Company made every effort to pursue the goals of no environmental complaints
Ton 0.01
With Hazardous Substances (HW49) throughout the year full compliance with the standards for the discharge and treatment of waste gas
waste water noise and solid waste and 100% centralized and standardized treatment of hazardous
Haining
Waste Cleaning Agents (HW06) Ton 0.075 waste. In 2025 the Company will further maintain the high standards of complying with the standards for
the discharge of water gas noise and solid waste strictly control and prevent the occurrence of major
environmental pollution accidents and continue to maintain the Company's good performance in terms
Oily Waste Rags (HW49) Ton 0.003
of environmental compliance and set a benchmark for green development in the industry.
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Optimizing Energy Utilization Achieving
Energy Conservation and Consumption Reduction
Energy and Water Resources Management
Hoymiles attaches great importance to the management of energy and water resources. In strict compliance with applicable laws and
regulations and industry standards such as the
and the
the Company formulates internal management systems related to energy consumption such as the
and continuously improves the governance system of energy and resources. In March 2025 the
Company passed the ISO 50001:2018 Energy Management System Certification. In terms of organizational structure the Company has
formed a management model centered around the Administration Center (Administration Department) and supplemented with
coordinated cooperation from various departments. Among others the Administration Department is responsible for the comprehensive
management of energy and resources such as water and electricity and assumes the important responsibilities of supervision
coordination and guidance. Each center (department) is responsible for energy and resource management within its functional scope
and actively cooperates with the unified management of the Administration Department. The close integration of governance systems
and organizational structure provides a solid institutional guarantee for the efficient management of energy and resources laying a
solid foundation for the sustainable development of the Company.
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Energy and Water Resources Management Strategy
In the global wave of pursuing sustainable development energy and water resources management is becoming increasingly important for the new energy and PV industries. Hoymiles has
established a comprehensive risk management system that systematically identifies and evaluates the opportunities and challenges brought by energy and water resources management
throughout the entire supply chain and scientifically predicts the potential financial impacts of these factors. On this basis the Company fully values and incorporates the needs and
expectations of core stakeholders such as customers employees and suppliers. In line with the long-term strategic planning we have developed corresponding strategies for responding
to energy and water resources management risks as well as seizing opportunities. This drives the Company to steadily progress along the path of green and sustainable development.Value Chain Likelihood
Risk Type Risk Drivers Description of Risk Links Impact
Financial
Where the of Duration Impact Response Strategy
Risk Occurs Occurrence
Climate change has led to changes Evaluate and adopt renewable energy such as solar
in the global energy supply and Rising
Short energy and plan related measures in advance;
Market Fluctuations demand pattern and triggered production Production
fluctuations in energy prices which and costs and Pay attention to energy price fluctuations and of Energy
Risk process
Medium
Price may increase the cost of production
medium compressed respond proactively and promptly;
processes for products such as PV term profit margins Implement energy-saving measures to reduce energy
inverters and energy storage devices. consumption
Value Chain
Opportunity Links Likelihood
Type Opportunities Description of Opportunity
Financial
Where the of Impact Duration Impact Realization StrategyOpportunity Occurrence
Occurs
Global demand for energy storage is
rising and the number of energy Increase in marketing efforts to optimize products and
Medium Increase in energy management solutions for energy project
Market Increase in
projects is increasing leading to a
sustained demand for PV inverters Downstream High and sales revenue
characteristics;
market
Opportunities demand and energy storage inverters. The
value chain long and brand
term influence Expand sales channels and strengthen cooperation Company can expand its market share with various energy project developers and installers
by leveraging its product advantages.
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Management of Impacts Risks and Opportunities
Occurring in Resource Management
Energy and Water Resource Risk Management
Hoymiles adheres to the fundamental philosophy of prioritizing prevention and making continuous
improvement. We fully identify the potential risks and opportunities in energy and water resources
management and respond effectively through a series of management processes to ensure the
stable supply and efficient use of energy and water resources. This helps us reduce the negative
impact of risks on our operations and seize the opportunities brought by external environmental
changes.Collect and analyze internal and external information and
comprehensively identify the potential risks in each link of the
Risk Identification
Company's value chain by taking into account the characteristics
of the industry and the Company's business.Apply professional tools and methods to scientifically assess
Risk Assessment the likelihood of the occurrence of risks and the extent of their
impact and determine the level of risks.Formulate strategies for different levels of risks such as
establishing long-term cooperation with suppliers to stabilize
Risk Response
the supply of energy and increasing investment in R&D to
improve the efficiency of energy use.Regularly review energy risk management and adjust and
optimize it according to market changes and company
Risk Review
development to ensure the effectiveness and adaptability of
risk management.
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Practices Energy Conservation and
Consumption Reduction
Hoymiles always adheres to the philosophy of sustainable development Purchase or Production of Renewable Energy
actively fulfills social responsibilities and takes multiple measures for
energy conservation and consumption reduction. The Company actively explores and utilizes renewable energy to reduce dependence on traditional
energy sources. During the Reporting Period the Company achieved a clean energy use rate of
Proactive Selection and Replacement of 8%. The Company plans to use 500 m2 of idle roof space to install PV generation units with an
High-Efficiency Equipment installed capacity of 50 kW which can generate approximately 49300 kWh of electricity annually.This will not only help reduce the Company's energy costs but also reduce carbon emissions and
The Company strictly follows the high-efficiency standard in equipment achieve sustainable use of energy in the Company.selection and improves energy efficiency through technology or
equipment upgrading. For example heating systems are equipped with
automatic temperature control systems and fans adopt variable frequency Optimization of Water Improvement of Electricity and
speed control technology; power is precisely adjusted according to actual Usage Processes Water Consumption Audits
needs; motors air compressors transformers and air conditioners of the
The Company optimizes water usage The Company has established comprehensive
equipment to be purchased all meet high energy-efficiency levels to
processes such as closing the water ledgers for water and electricity consumption. In
minimize the energy consumption from the source.supply valve before cleaning the accordance with standards such as the
underground water tank so that the
tank is cleaned only after the water
Optimization of Production Processes in it has been used up thus avoiding
the Company calculates and analyzes energy
unneces sa r y was te o f wa te r and water consumption to promptly identify and
resources. address abnormal consumption.The Company continuously improves production processes and
operating methods to enhance production efficiency and reduce energy
consumption per unit of product. For example in the electrical stress
testing of microinverters in the reliability laboratory the Company Enhancement of Patrol Inspection and Maintenance of Facilities
increased the number of DC sources optimized the testing process and
upgraded the software of the host computer significantly improving The Company carries out regular maintenance of production equipment to ensure that the
testing efficiency and reducing energy consumption. Originally two DC equipment is in good operating condition and improve the efficiency of energy utilization.sources could only test one unit at a time. After improvements the Additionally the Company has assigned dedicated personnel to perform an patrol inspection on
number of tests increased significantly saving 75% of the testing time water facilities. The personnel of the Administration Department inspects the water usage of the
and reducing energy consumption by RMB 60400 which is calculated restaurant twice a day and the personnel of the Facility Department conducts unscheduled
at an annual production capacity of 2 million units and a sampling ratio inspections daily reading meters once per day and performing year-on-year and month-on-month
of 1/10000. Additionally we adjust our production schedule and comparisons to promptly identify water usage fluctuations and abnormal situations and resolve
reasonably arrange equipment operating times to avoid equipment the causes. Other relevant personnel conduct weekly inspections of faucet leaks and re-mark the
running without load and further reduce energy consumption. location of water valves so that the valves can be promptly closed and repaired in case of leaks.
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Metrics and Targets for
Key Performance Resource Efficiency
Hoymiles has established clear metrics and targets for energy and water resource
Indicator Unit 2024 management. In terms of energy management the Company sets goals for
specific projects such as energy consumption per unit of industrial added value
Gasoline Liter 17800 and plans to further reduce energy consumption through continuous optimization
of energy management measures equipment upgrades and improvements in
Diesel Ton 2328.34
production processes. Meanwhile the Company actively promotes the optimization
Energy Usage
of the energy structure such as utilizing roof space to install PV equipment to
Annual Electricity Consumption kWh 7791335.05
increase the use rate of renewable energy. For water resource management the
Company aims to reduce water resource waste. Through improving water
Photovoltaic Power Generation kWh 1827374
metering systems strengthening inspections and maintenance of water facilities
and using water-saving devices we continuously reduce water consumption per
Water Resource
Total Water Consumption Ton 27260 unit of output value improve water resource utilization efficiency and push the
Utilization Company towards more efficient and sustainable water resource management.
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Green Office
Hoymiles actively promotes the philosophy of green office responds to national policies on energy conservation and emission reduction and encourages employees to start from small actions
for the effective implementation of measures for green office.Electricity Conservation Paper Conservation Water Conservation Conservation of Office Supplies
The Administration Center divides Employees are encouraged to Water-saving sanitary ware such as The Company follows the
the lights and air-conditioners in use both sides of paper reuse water-saving toilets and urinals are principle of greenness thrifty and
the office area posts responsibility waste paper advocate paperless adopted in the plant area to achieve frugality and implements unified
labels and assigns electricity usage office practices reduce water conservation in facilities. We procurement issuance and
responsibility to departments. We unnecessary printing/color advocate turning off water taps in recycling of office supplies to
conduct spot checks on energy printing and avoid printing time to avoid the waste of water reduce the waste of resources.usage periodically to remind or unrelated content. and encourage employees to bring
report any wasteful behavior thus their own water cups for daily office
strengthening employees' work and meetings reducing the
awareness of energy conservation. use of bottled water.
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Exploring Material Circulation
Improving Resource Efficiency
Hoymiles in the principles of efficiency greenness and systems convert waste generated during the production
sustainability in material usage continuously optimizes process into reusable resources. Additionally the Company
material management processes to improve resource actively promotes the digital transformation of material
utilization efficiency. The Company strictly selects management and adopts big data and intelligent
suppliers and gives priority to environment-friendly and technology to achieve precise control and optimized
recyclable materials to reduce the impact on the allocation of materials reduce inventory costs and improve
environment from the source. During production operational efficiency. Through these measures Hoymiles
Hoymiles adopts advanced production processes and achieves a win-win outcome in both economic and
equipment to precisely control material usage minimize environmental benefits in material usage and sets a model
waste and through material recycling and reuse for the sustainable development of the PV industry.Protecting Ecological Balance
Maintaining Biological Diversity
Hoymiles always regards ecological environmental continuously monitor and evaluate the ecological
protection and biodiversity protection as an important environment around our projects to promptly identify and
responsibility for corporate development and strictly respond to potential environmental issues and ensure the
abides by a series of laws and regulations and sustainability and environmental friendliness of the
international conventions such as the
projects. During the Reporting Period the Company's
and the business mainly centered on the R&D production and
sales of power electronics and our production bases and
During project implementation the Company operation sites did not involve nature reserves ecological
uses high-efficiency equipment and optimizes conservation habitats sensitive ecosystems or ecologically
production processes to reduce energy consumption fragile areas. All production and operation activities
which decreases energy consumption and indirectly products and services of the Company have not caused
reduces pressure on the ecological environment. We any significant impact on ecosystems or biodiversity.
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Industry Value
Building Responsibility Chain
Coordinating Industry Development
Strengthening Innovation-Driven
Development Leading the Industry
Upgrading
Keeping Strict Control of Quality and
Safety Fortifying the Line of Defense
for Security
Optimizing Customer Service
Improving Customer Experience
Ensuring Information Security
Protecting Customer Privacy
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Building Responsibility Chain Coordinating Industry Development
Hoymiles continuously promotes the construction of a sustainable supply chain by building a full-process systematic framework to strengthen supplier collaboration and compliant
operations. By relying on digital platforms to optimize procurement efficiency and combined with compliance mechanisms and capacity improvement measures the Company continuously
enhances the resilience of the supply chain.Supply Chain Management System
The Company has established a standardized management system covering the whole cycle of supplier development selection assessment and At the end of the
cooperation. With quality assurance as the core we follow strict entry standards and assessment mechanisms and embed risk control and compliance reporting period
supervision in the procurement process through scientific assessment dynamic optimization and process control to achieve the synergistic development
of the Company and the supply chain. the company
introduced the Supplier
Development and Selection of Suppliers Control of Procurement Process Code of Conduct
In accordance with the
According to the
the which includes
the Purchasing Department Purchasing Department generates contracts based provisions on
conducts market research and collects supplier on planned demand. After review contracts are environmental
information to ensure new suppliers meet signed with qualified suppliers and any changes are
protection labor rights
requirements for quality price and service and clarify made in accordance with the procedure. Various
regulations regarding registered capital market and methods are used for product verification and there and respect for human
customers. Strict reviews are conducted for Class A are clear rules for handling defective products
material suppliers while other categories are assessed invoice reconciliation and payment to ensure that rights. 100%
as needed to ensure the quality of material supply. procurement activities are conducted orderly.of new suppliers have
signed the Supplier
Supplier Assessment and Management Supplier Code of Conduct Code of Conduct and
existing suppliers are
According to the
According to the
suppliers
suppliers are assessed monthly by are required to comply with labor environmental gradually signing the
delivery quality delivery time price and other protection conflict minerals and other regulations. code with the current
indicators and given rewards and penalties based on The Company conducts audits and supervision and signing rate at
the assessment results. non-compliant suppliers are instructed to rectify or
reduce cooperation. 63%.
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Supplier ESG Management
Hoymiles has established a comprehensive and systematic supplier ESG management system by formulating policies such as the the
and the
to promote the sustainable development of the supply chain.Policy Formulation
Environment Social Responsibility
Suppliers are required to comply with environmental protection regulations and obtain Suppliers are required to ensure the elimination of forced labor
and update environmental permits and certifications. child labor and other such practices and to provide a safe and
healthy working environment.Suppliers are required to implement environmental protection measures in links such as
resource management waste disposal and GHG emissions and comply with the Suppliers must comply with the
requirements of the REACH regulation to ensure the safe use of chemicals. conduct due diligence on the relevant minerals and metals in
their supply chain ensure that their supply chain does not
Suppliers are encouraged to comply with environmental protection regulations and set
contain minerals from conflict regions and adhere to the OECD
up effective environmental management systems in accordance with the requirements
Guidelines for Conflict Minerals.of ISO 14001.
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The Company guides suppliers in self-assessment with the -
and in Hoymiles has established a corporate social responsibility (CSR) evaluation
combination with supply chain due diligence gains an in-depth understanding of the suppliers' framework covering the entire supply chain. The Company has completed the
ESG management status. Additionally the Company refers to the
design of the first round of evaluation forms and started a pilot program. to clarify the reward and cooperation incentive mechanisms for outstanding suppliers Through a systematic evaluation and auditing mechanism the Company ensures
with good ESG/CSR performance. Additionally the
-
integrates that suppliers comply with international standards in labor rights environmental
ESG-related requirements into contract terms legally regulating supplier behavior and ensuring protection and compliance governance. During the Reporting Period the
effective implementation of ESG management measures. Company conducted on-site audits of 128 suppliers (44%) focusing on verifying
the compliance of agents and original factories in production environment
Specific Actions employee rights and interests and environmental protection measures.The Company officially joined the UNGC in November 2024 and made a public
Formulation of Contracts and Standards commitment to sustainable procurement.Incorporate social and environmental clauses into contracts signed with suppliers
and formulate a code of conduct for suppliers Key Performance
Assessment and Management
Suppliers with Quality
Conduct CSR risk analysis for suppliers and evaluate environmental or social Total Suppliers Management System Certification
practices through questionnaires etc.Perform on-site/online due diligence of suppliers using the - 291 129
Personnel Training and Capacity Building Suppliers with Environmental Suppliers with Occupational Health and
Provide purchasing personnel with training on social and environmental issues Management System Certification Safety Management System Certification
within the supply chain.Offer capacity building for suppliers on environmental or social issues. 107 105
Incentives and Evaluation Suppliers Participating in on-site Audits of Corporate Social Responsibility (CSR)
Develop incentive plans based on suppliers' environmental and social performance.Evaluate suppliers for REACH compliance and terminate cooperation with 128
non-responsive suppliers
Implement supplier diversification programs
Note: All production-oriented suppliers of the Company all have quality management system
Integrate sustainable procurement goals into the performance assessment of the certification environmental management system certification and occupational health and
purchasing personnel. safety management system certification.
52 53 54Sustainable Governance Environmental Protection Industry Value Good Life
Supplier Digital Management Transparent Procurement
The Company has deeply integrated digitalization into On May 29 2024 Hoymiles organized anti-corruption training for the
supplier management incorporating it into the supply purchasing personnel. The training centered on sustainable
procurement policy emphasized clean business ethics and covered
chain ESG management module. Fully relying on the
theoretical explanation and on-site operation demonstration. The
SRM system to carry out business we use digital
Purchasing Department and relevant personnel participated the
methods to streamline various stages such as sending training with a training coverage rate of 100%. This training effectively
procurement orders reconciling invoices and processing enhanced procurement personnel’ s awareness of self-discipline and
delivery notes achieving real-time online interaction with integrity further standardized the Company's procurement process
suppliers. This system covers the entire lifecycle process and laid a solid foundation for creating a healthy and fair procurement
from the management of potential suppliers to the exit environment.of suppliers. Through multi-module collaboration data
reporting and decision support functions the system The Company continues to promote the supply chain anti-corruption
enhances efficiency and strengthens the stability of the due diligence mechanism stipulating business integrity clauses in
supplier contracts and conducting regular compliance assessments.supply chain.This ensures that all links in the supply chain comply with
anti-corruption laws regulations and industry standards creating a
trustworthy and sustainable business ecosystem.Training on Supply Chain
Hoymiles is focused on the long-term development of the supply chain
and actively conducts systematic training for suppliers. The training
covered 21 Purchasing Department personnel achieving 100% training
coverage. The Company invites professionals in the industry to explain
the application performance and production process of various
products and in combination with the sustainable procurement
framework carries out training on topics such as environmental
compliance labor and human rights protection business ethics and
health and safety to help suppliers enhance their awareness of
sustainable development and practical ability and promote the
efficient and synergistic development of the entire supply chain.
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106 109 110 111 113 114 107 108 112Sustainable Governance Environmental Protection Industry Value Good Life
Strengthening Innovation-Driven Development
Leading the Industry Upgrading
Hoymiles has established a full-process innovation governance framework to strengthen the coordination between technological innovation and risk prevention through systematic R&D
management and matrix organizational structure. Through industry-academia-research cooperation and green project practices the Company accelerates industry technology upgrades
and low-carbon transformation and achieves the enhancement of both innovation capacity and sustainable competitiveness.Governance for Innovation-Driven Development
Innovative R&D System
The Company has established a sound system for innovation and R&D management. Based on the R&D structure we have formulated processes and management standards covering
product design development and project management such as the
and the. During the Reporting
Period the Company introduced the IPD R&D management system in which multiple technical and decision-making review points are set up in the HPDP process to control the whole
process from the requirement conceptualization to product release. The change process standardizes change requests reviews and execution stages to ensure orderly changes. The
customized solution process ensures smooth project development from marketing to delivery. Meanwhile the Company has built platforms for TR reviews DCP reviews change
management and demand management to support R&D from multiple dimensions including technical evaluation investment decision change management and demand control.Investment in R&D Percentage of R&D Investment
RMB 266.1145 in Operating Income million
13.35%
Number of R&D Personnel Percentage of R&D Personnel
588persons 35.92%
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Organizational Structure for
Research and
Innovation Management Development Center
Hoymiles takes R&D Center as the core hub with R&D Center Working
Group to coordinate relevant work. The Company has set up regional
R&D Centers in Suzhou and Hangzhou to stay close to the market and
technology frontier. Specific project R&D covers departments such as
the Energy Storage Project R&D Department and the Cloud Platform
R&D Department each focusing on different technological fields. In
addition the Project Management Department ensures the efficient
advancement of R&D projects while the PACK R&D Department and
the Component R&D Department focus on hardware development. The
Intellectual Property Department protects R&D results and all
departments collaborate to drive the technological innovation and
sustainable development of the Company.Innovation Incentive Mechanism
The Company continuously strengthens the driving force of technological innovation by building a dual-track mechanism of "project matrix management" and "full-cycle intellectual
property incentive". The Company has implemented standardized management systems such as the
and implemented cross-departmental collaborative
R&D matrices. With special incentive funds and mechanisms tied to results transformation the Company forms an "Innovation - Protection - Application" closed-loop management
process. By optimizing resource allocation through a graded patent evaluation system we effectively increase the proportion of our core technology products.
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Intellectual Property Department
Component R&D Department
PACK R&D Department
Project Management Department
Cloud Platform R&D Department
Energy Storage R&D Department
Hangzhou R&D Center
Suzhou R&D Center
R&D Center Working GroupSustainable Governance Environmental Protection Industry Value Good Life
Strategy for Innovation-Driven Development
The Company systematically organizes the risk and opportunity assessment table and continuously strengthens risk management and strategic opportunity identification capabilities. By
establishing a multi-dimensional risk prevention and control system the Company addresses various risks while actively exploring structural transformation opportunities.Risk
Risk Type Description of Risk Likelihood of Impact Financial Impact
Occurrence Duration Response Strategy
Failure to effectively control changes Increased project
costs lead to Establish change management process control demand change Risk of Project in demands technologies supply
technology change supply chain change target change and
Change chains or targets may result in wasted Low Short term opportunity cost
resources or schedule delays. losses and higher
other aspects of the project and realize change traceability
maintenance costs.Continuously carry out patent searches to prevent infringement
Legal litigation
Failure to conduct timely patent of newly designed and developed technologies or products;
costs loss of
Patent searches or protections may lead to
Low Short term product removal Apply for patents for new designs IP trademarks etc.; protect
Risk infringement disputes or the loss of
and waste of patents in a timely manner; make layout of intellectual property
technological exclusivity.R&D resources rights; prevent patent infringement when the product is
launched; and enhance technological competitiveness.Opportunities
Opportunity Type Description of Opportunity Likelihood of Impact Financial Impact
Occurrence Duration Realization Strategy
Project change management is
Upgrade of Reduction in project
established to reduce resource waste Medium Construct a systematic change management system that
Change overrun risk and
and schedule delays improving High
Management and long
covers demand technology supply chain and goal changes
improvement in
operational efficiency and project
System term
across all dimensions.product profitability
profit margins.
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Management of Impact Risk and Opportunity
of Innovation-driven Development
Hoymiles has established a comprehensive risk and opportunity management framework in innovation practice and achieved the coordinated
development of risk control and value creation through systematic processes and mechanism design. The Company continuously optimizes
the innovation ecosystem effectively balances risks and opportunities and injects momentum into innovation-driven development.Relying on the HPDP product development process a risk pre-control mechanism is built and dynamic
Project Risk
Management risk assessments are conducted at key TR review nodes. Through systematic processes the Company
System achieves full-cycle control of risk identification analysis and response measures.We set up the position of Management Engineer for project portfolios and establish a dynamic
Resource
Optimization management system for the project pipeline. Through resource demand forecasting and priority
and Allocation assessment the Company achieves efficient resource allocation and optimization across projects
Mechanism
improving resource utilization efficiency and input-output effectiveness.Closed-Loop In the HPDP process demand phase the product quality goals are clearly defined and strict reviews
Quality Control
System and process control are implemented at the TR review nodes in each project execution phase.Metrics and Targets
The company drives breakthroughs in core power electronics technologies such as photovoltaic and energy storage by continuously
strengthening its R&D capabilities and promoting industry-university-research collaboration. We enhance energy conversion efficiency and
system safety while focusing on green and low-carbon development to accelerate the large-scale application of clean energy solutions.The Company will continue to optimize the innovation governance system strengthen intellectual property protection balance innovation
vitality and risk prevention and achieve an organic unity of technological leadership market competitiveness and sustainable development.
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Scientific and Technological Innovation Projects
Cooperative R&D 85MW Agricultural-Photovoltaic Complementary
Power Station in Hunan Town Qujiang District
The Company continues to deepen collaborative innovation with universities and scientific
research institutions to build an open technology R&D system. By jointly undertaking
Hoymiles and the People' s Government of Qujiang District jointly invested
provincial key R&D projects the Company carries out key technology R&D in the fields of
in the construction of 85MW Agricultural-Photovoltaic Complementary
power semiconductor device design and energy router technology and promotes the
Power in the Poverty Alleviation Office of Hunan Town Qujiang District
industrialization and application of digital design and intelligent evaluation technology.with a total land area of more than 4000 mu a total investment of about
Additionally the Company actively builds an international technology exchange platform
595 million yuan a total installed capacity of 85MW and an average
invites domestic and foreign well-known expert teams to conduct field visits to laboratories
annual power generation capacity of 82.3 million kWh. The project utilizes
production bases and application scenarios and carries out technical seminars around the
mountain resources and adopts the agricultural-PV complementary model
R&D of new power electronic equipment the provision of integrated energy solutions and
which effectively solves the economic weaknesses of the impoverished
other cutting-edge directions to promote the in-depth fusion of academic theories and
people in the reservoir area while protecting the original ecology.industrial practices and to provide an innovative driving force for the industry's
technological iteration and sustainable development.The Company focuses on the PV and energy storage sector actively collaborating with the
government to carry out cooperative research projects. By leveraging our technological
expertise and utilizing government policy support and resource coordination capabilities we
explore innovative development models. In the process of project promotion the Company
always pays attention to ecological environmental protection and is committed to realizing
the harmonious coexistence of clean energy utilization and ecological environment. The
collaborative projects also have actively promoted local economic development improved
people’ s livelihoods created employment opportunities increased residents' income and
injected strong momentum into the region's sustainable development showcasing good
comprehensive benefits.
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Independent R&D
Hoymiles continuously builds up the core technology system in the field of clean energy BIPV PV Project in Qingdao
and has formed three major technology clusters of PV inverters fast shutdown devices and Leader Technology Park
energy storage inverters. Among others the core PV product (the microinverter) eliminates
the risk of high DC voltage through an innovative component-level architecture while
The Company actively promotes green technology innovation. In the
simultaneously improving power generation efficiency and operational convenience; the
BIPV PV project in Qingdao Leader Technology Park the Company
rapid shutdown device builds a millisecond-level safety protection system to meet
integrates component-level power electronic technology with building
international safety standards; the energy storage inverter uses multi-port energy
structures and adopts an intelligent monitoring system to support full
conversion technology and combines an intelligent management system to achieve
lifecycle management improving energy utilization efficiency and
multi-mode switching. These technological achievements have comprehensively improved
operational reliability. This enables the collaborative innovation of clean
the Company's energy conversion efficiency system safety and intelligent control levels
energy systems and industrial facilities helping to reduce the industry's
providing key technological support for promoting the green energy transition.carbon emission intensity and providing a replicable technological path
for the green transformation of the industrial and commercial sectors.Indicator 2024 Cumulative
PV Power Generation Supported by Inverter (GWh) 2069.72 4509.54
PV Installed Capacity Supported by Inverter (GW) 2.12 4.32
PV Facility Emission Reduction Supported by
20635114496015
Inverter (Ton)
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Promotion of the Development of New
Training on Innovative Development Quality Productive Forces
Under the guidance of the innovation-driven development strategy the Hoymiles effectively integrates agricultural planting and PV power generation through innovative projects
Company vigorously promotes innovation-driven training and public such as the 30MW Agricultural-Photovoltaic Complementary Power Station in Dazhou Zhejiang and the
education: R&D Department III offered specialized training on S-Miles AI 30MW Agricultural-Photovoltaic Complementary Power Station in Zhoujia Town creating a "green
which covers technical principles application scenarios and operational skills energy + modern agriculture" collaborative development model. The project uses three-dimensional
targets all department staff helps them master the application of this space utilization technology to ensure the original agricultural production function while providing
technology in R&D and improves R&D efficiency and innovation ability; and approximately 45 million kWh of clean energy annually achieving an annual carbon reduction of about
the Project Management Department also provided training focused on 36000 tons. Through innovative practices such as planting economic crops and cultivating medicinal
innovative project management models and advanced management tools to plants under PV panels it improves land comprehensive utilization efficiency explores an eco-friendly
optimize management processes improve project delivery quality and agricultural development path promotes the coordinated development of agricultural modernization and
efficiency and enhance the Company's competitive advantage in the market. green energy and injects new momentum into regional economic high-quality development.
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Protection of Intellectual Property Rights
Intellectual Property Full-process Intellectual Property
Management System Right Management System
In strict compliance with domestic and international Hoymiles has established an intellectual property management framework covering the
intellectual property laws and regulations the Company entire lifecycle of HPDP deeply embedding patent layout into the demand analysis
has formulated systems such as the technology planning design verification and commercialization stages. Through
and the dynamic patent searches and compliance review mechanisms the Company ensures
and established the innovation and non-infringement of technical solutions. Meanwhile we set up fast
a full-cycle risk warning and management system protection channels for core technologies key intellectual properties trademarks and
covering the creation management protection and industrial designs and implement forward-looking patent layouts to effectively balance
implementation of intellectual property to continuously innovation vitality and risk prevention safeguarding the rights and interests of R&D
improve the innovation incentive and risk prevention results while enhancing the Company's technological competitiveness through the
mechanisms and ensure intel lectual property conversion of intellectual property value.compliance at all stages of R&D production and sales.The Company has built an intellectual property management system in compliance
On the basis of respecting others' intellectual property
with national standards with certification covering the intellectual property
the Company continuously enhances the value of
management of PV grid-connected inverters in R&D production and sales stages.intellectual property through technological innovation
This has effectively strengthened the protection of innovative results and improved
and standardized management.corporate governance efficiency.During the Reporting Period Key Performance
Total Invention Patents Held Total Utility Model Patents Held Total Design Patents Held
41items 27items 17items
No dispute related to intellectual property Total Software Copyrights Held Others (including Overseas Trademarks)
rights occurred in the Company. 91items 155items
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Indicator Number Applied in 2024 Number Obtained in 2024 Total Number Applied Total Number Obtained
Invention Patents 23 8 109 41
Utility Model Patents 19 11 50 27
Design Patents 10 5 24 17
Software Copyrights 7 22 91 91
Others 3 60 174 155
Total 62 106 448 331
Keeping Strict Control of Quality and Safety
Fortifying the Line of Defense for Security
Hoymiles always considers product safety and quality governance as the core of corporate development. The Company has established a standardized management system covering the
entire lifecycle using system norms process control and digital technologies to systematically promote risk prevention and quality improvement in the supply chain delivery and
customer service stages and continuously optimize the quality management mechanism.
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Governance for Safety and Quality of Products and Services
Management System of Safety and Quality of Products and Services
Hoymiles always adheres to the product quality management policy of "pursuing excellence environmental protection and safety and health and continuously improves the product and service
quality assurance system. The Company has sorted out a list of systems covering the full-lifecycle of products including core processes such as product design production manufacturing
quality inspection supply chain management and after-sales service. Over 80 system documents have been formulated to ensure standardized and regulated operations at each stage.In the "pursuit of excellence" the Company strengthens the quality control of raw materials and finished products through special specifications such as the
and the
. The philosophy of "environmental protection" runs through the design
production and packaging processes. For example the strictly regulates the use of environment-friendly materials. The philosophy of "safety and health" is
ensured through systems such as the
and the which safeguard product safety and employee operational compliance.Quality Management System Certification
The Company always considers quality management
as the core cornerstone of sustainable development
and ensures that product quality and service levels
continuously meet market demand through the
construction of a scientific and sound management
system and a strict product certification mechanism.During the Reporting Period Hoymiles has passed the
ISO 9001 and CQC certification. Zhejiang Hoymiles
Hangzhou Heli Haining Hengli and Zhejiang Henghe3
have all passed the ISO 9001 International Quality
Management System certification and will continue to
Hoymiles Zhejiang Hoymiles Hangzhou Heli Haining Hengli Zhejiang Henghe
deepen the quality management system construction
and continuously improve product competitiveness
through both technological innovation and strict
3The ISO 9001 Quality Management System Certification of Zhejiang Henghe officially takes effect in January 2025.
certification.
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Product Quality and Safety Strategy
Risk
Risk Type Description of Risk Likelihood of Impact Financial Impact
Occurrence Duration Response Strategy
Ensure delivery by accelerating procurement
This may lead to direct sales revenue loss waste of invested
Order Customers and production progress.Low Short term raw materials and production costs and increased storage costs
Management cancel orders.due to inventory backlog. Enable salesperson to conduct effective
communication with customers.This may lead to loss of customers directly reduce the current
Low customer Ensure product quality and timely delivery
sales revenue and affect the future of long-term earnings; and
Customer satisfaction results improve the after-sales service system and
Low Short term the Company needs to invest more resources in the
Satisfaction in the loss of maintain positive communication with
development of new customers and increase marketing costs
customers. customers to stabilize them.which further squeeze profitability
This may trigger customer claims and return costs and lead to Develop a reasonable production plan;
Delayed delivery of
Short and customer loss or order reduction which directly reduces current formulate the production plan according to
Product products leads to
Low medium revenues; the principle of prioritizing delivery dates;
Delivery customer dissatisfaction
term
or claims Urgent processing and other remedial measures will increase Send out shipment notices to customers in
operating costs and squeeze profits. the way as agreed in the contract.Opportunities
Opportunity Type Description of Opportunity Likelihood of Impact Financial Impact
Occurrence Duration Realization Strategy
Opportunities in
The improvement of customer satisfaction and Increase in customer retention rates and Establish a closed-loop customer feedback
Optimization of Medium
the establishment of long-term cooperative repurchase income reduction in new customer mechanism to regularly analyze satisfaction
Customer High and long
relationships enhance customer loyalty repeat acquisition costs and enhancement of brand data and make targeted improvements to
Relationship term
orders and word-of-mouth effect. loyalty and pricing power. products and services.Management
Opportunities in This may reduce the inventory backlog and
The Company may shorten the delivery cycle
Enhancement of Medium warehousing costs free up liquidity reduce the Strengthen production process control and
and reduce the risk of order cancellation by
Supply Chain High and long risk of order cancellation and the loss of expedited establish a digital supplier collaboration
optimizing the production plan and supplier
Response term production and improve the efficiency of resource platform.coordination to enhance market competitiveness
Capability utilization and the stability of cash flow
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Management of Impact Risk and Opportunity of Safety and Quality of Products and Services
Hoymiles formulated the to continuously optimize the product risk management framework.Through the four-step closed-loop management system of "Identification - Evaluation - Monitoring - Response" the Company During the Reporting Period the
systematically promotes risk management throughout the product lifecycle. Company actively conducted quality
audits. In May 2024 the Company
Risk identification underwent an external supervision audit
Adopt various scientific methods to analyze the full-lifecycle of products and by WIT. The audit results indicated that
the Company's management system had
services and locate potential risks based on past experience industry data and
been well implemented and maintained
laws and regulations.and the system was generally effective. In
November of the same year an internal
audit was organized focusing on the
Risk Assessment clauses of the management system and
Prioritize risks by combining qualitative and quantitative assessment in terms of the special requirements of CQC
the likelihood of occurrence extent of impact and detectability of risks. certification rules. The Company
systematically and comprehensively
audited all departments locations and
processes involved in the design
Risk Monitoring production and service of products
Set up a comprehensive monitoring system to dynamically track identified risks. related to Hoymiles and Hangzhou Heli.Collect production data quality feedback and customer complaints keep track One minor nonconformance was
of risk changes regularly analyze data and trigger an early warning mechanism identified and the responsible
when thresholds are exceeded. department was required to make
corrections. Through internal and external
quality audits the Company continuously
Risk Response identifies and improves issues in product
and service safety management
Differentiated strategies are implemented for risks with different priority levels. continuously enhancing risk management
For high-priority risks a special team is formed to develop response plans taking levels ensuring the safety of products
measures such as avoidance reduction or transfer. For medium and low-priority and services and safeguarding the
risks the Company adopts acceptance or monitoring methods adjusting interests of stakeholders.strategies when necessary.
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Metrics and Targets for Management Measures for Safety and
Product Quality and Safety Quality of Products and Services
Hoymiles continues to deepen the construction of product safety Product Lifecycle
and quality management system and drive the achievement of
The Company strictly abides by the quality control system controls the procurement of raw materials from the
quality objectives through quantitative indicators. During the
source standardizes the production and processing processes strengthens the quality inspection optimizes
Reporting Period the Company strictly adhered to the quality
the storage and transportation conditions ensures the stability and reliability of product quality and supplies
standards of a product yield ≥99.9% (microinverter products) and
the market with products that meet the high standards in a professional and rigorous manner.a production line FPY ≥99.2% (Hoymiles’ s microinverter
production line) achieving the goal of over-completion through Inspection of Control of
Raw Materials Production Process
full-process control. In the next year the Company will further
raise its quality objectives to a production line pass rate ≥99.3%
Incoming materials are sampled and The first-piece inspection and process
(Hoymiles’ s microinverter production line) and integrate the
inspected according to the inspection are conducted in
product yield ≥99.9% (microinverter products) into the regular
in combination accordance with the -
assessment system. The quality-related departments will be
with dynamic management of supplier to monitor the stability of
clearly designated as the responsible entities strengthening
quality files to ensure that raw materials process parameters and continuously
process control and result-oriented assessment mechanisms.meet technical standards. control the entire production process.Verification at Finished Management of
Product Warehouse Shipment Release
Finished products are sampled and Final shipment inspection is completed
inspected according to the - in accordance with -
focusing on verifying functional and product identification
indicators and reliability and establishing performance parameters and
batch quality traceability records. packaging compliance are verified to
achieve delivery quality traceability.Two single-phase microinverters of Hoymiles have been certified by international authoritative organizations receiving
product lifecycle assessment (LCA) recognition and meeting the PEP ecopassport program standards. The Company
has always emphasized the environmental impact of products throughout their entire lifecycle. From design and
development to disposal we practice green philosophy and continuously reduce the environmental footprint of
products through measures such as optimizing energy efficiency using environment-friendly materials and improving
recycling systems thereby taking practical actions to promote sustainable development in the industry.
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Sustainable Governance Environmental Protection Industry Value Good Life
Management of Hazardous Materials
Hoymiles in strict compliance with international environmental standards and domestic regulations has established the
The Company implements standardized lifecycle management of chemicals covering procurement storage usage and disposal processes. This helps to continuously optimize
hazardous material management measures effectively control risks ensure compliance and promote green and sustainable production.Corrosive materials are tightly packed and prohibited from coexisting with liquefied gases and other items; hazardous chemicals should
not be stored together with waste ordinary chemicals or flammable substances.Storage
Management Labels for sealed storage are kept facing outward; light-sensitive materials are stored in light-blocking facilities; the site is equipped with
MSDS personal protective equipment firefighting and emergency facilities and video surveillance.Monthly inventory is taken and the entry and exit registration form is filled in to ensure the consistency of the accounts and materials.Personnel using chemicals must wear personal protective equipment and are prohibited from repackaging flammable and explosive
Management materials at storage points.of Material
Receipt Materials must be handled according to specifications and registration should be completed promptly after issuance.Private disposal or removal of hazardous chemicals is prohibited and MSDS and safety equipment must be available at the usage site.Operators are trained containers should be checked before and after use and personal protective equipment must be worn. High-risk
Specification operations should be conducted in a ventilated environment.for Usage
Containers for repackaging should have safety labels applied with original labels removed; waste should be handled by qualified units
and the site should be cleaned promptly after use.Immediate response evacuation and reporting are required in case of emergency events.Response To In the event of leakage the contaminated area should be isolated and protected; in case of fire or explosion protective measures
Emergencies should be taken according to the MSDS.Personnel should be rinsed out and sent to the hospital in case of being poisoned/exposed to hazardous materials.
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Product Recall Mechanism
The Company in strict compliance with international quality standards and regulations on the protection of consumers' rights and interests establishes a closed-loop management
system for product returns and recalls covering the entire product lifecycle. Through standardized process design cross-departmental collaboration mechanisms and digital control
measures the Company ensures that product quality issues are traceable risks are manageable and responsibilities are enforceable.Application Initiation Logistics Handling Key Performance
The applicant evaluates offline and holds a review The logistics manager transfers the products to the Product Percent Number of
meeting forms an analysis report and decision return area following the specified procedures for of Pass Internal Quality
suggestions and then initiates an application for domestic and overseas returns. Audits in a Year
batch product return. 99.99% 1time
Multi-Departmental Review Execution of Recall
Number of Sampling Number of
Inspections by Product Recalls
Departments such as finance sales quality Once approval is granted the responsible personnel Third-Party Organizations
after-sales and R&D provide review opinions and carry out the recall according to the decision notify
relevant department heads jointly review and customers and arrange for product recovery. 3 0piecesmake decisions. times
Training on Quality
Hoymiles has carried out systematic and comprehensive training based on Key Performance
the goal of quality improvement. The training covers various fields of
knowledge including quality management methods production process Participants in Total Hours of Training on
knowledge and product-related standards. The training enhances employees' Training on Quality Training on Quality Quality
awareness of quality and operational skills and improves the standardization
and accuracy of product production inspection and other processes. 2390person-times 1095.39hours 226times
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Optimizing Customer Service Improving Customer Experience
Informatization Management System Customer Satisfaction
The Company relies on an intelligent management system to build a Hoymiles incorporates the customer feedback mechanism into the
Key Performance
digital hub for customer resources establishing comprehensive core module of the customer relationship management system
customer information files and continuously iterating and updating and realizes the closed-loop service by building a multi-dimensional
them. Through a multi-dimensional data verification mechanism the information collection mechanism. The Company has established Customer Satisfaction
Company precisely identifies and eliminates duplicate customer data. By an interactive network covering digital platforms traditional
using intelligent allocation algorithms the Company achieves automated communication channels and offline scenarios systematically 93.6%
matching and dynamic optimization of customer resources improving
collecting market feedback data. Using an intelligent analysis
resource allocation efficiency. At the same time the system supports a
system the collected information is processed structurally
customizable label system allowing flexible configuration of customer
classification dimensions based on business needs forming a refined generating satisfaction evaluation reports that include customer
hierarchical management model. It also automatically generates demand insights. This supports deeper interaction between the
customer profile portraits based on behavioral data providing data Company and its customer base continuously enhancing market
support for marketing strategy development. response capability and customer value creation.Customer Complaint and Feedback Enhancement of Globalized Services
The Company has established the and Rules and Hoymiles focuses on the global clean energy market by building a global service system covering the PV
created a standardized complaint handling mechanism. The full-process and energy storage sectors. The Company has set up comprehensive operation centers in four core
response system ensures efficient closed-loop management of customer overseas regions forming a “regional management + localized service” collaborative model. Relying on
demands. The Company also implements problem tracing and systematic localized service teams and a multilingual technical support system the Company provides customers with
rectification turning complaint data into a basis for product quality full-cycle services from product selection to operation and maintenance optimization. Additionally product
improvement driving design optimization and process enhancement and information is updated in real-time and remote technical support is provided through a digital platform. A
transforming customer complaints into opportunities for quality rapid response mechanism for customer demands is established combining online and offline training and
improvement. This creates a virtuous cycle of "service improvement -
communication activities to continuously improve service accuracy and customers' technical application
product upgrade - customer satisfaction" ultimately achieving simultaneous
capabilities.improvement of service quality and brand reputation.
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Sustainable Governance Environmental Protection Industry Value Good Life
Ensuring Information Security Protecting Customer Privacy
Hoymiles emphasizes the protection of core data and customer privacy. On one hand we keep our core data and customer information confidential through access control and data
encryption systems. On the other hand we build an information security management system around the EU GDPR regulations and the ISO 27001 information security management
system to strengthen standardized management of personnel servers and information security risks.Information Security Management System
The Company attaches great importance to information security management and has developed the. In line with ISO/IEC27001:2022 and based on
our business characteristics we have established an information security management system to safeguard information assets meet stakeholder needs and enhance information security
construction.Planning and Deployment Basic Support Risk Control
Integrate internal and external factors identify Provide resources for the information security system Ensure business processes comply with system
information security risks and opportunities assess allocate personnel reasonably and train them to requirements conduct risk assessments develop
and dispose of risks in accordance with procedures improve their capabilities enhance employee security and implement mitigation plans record results and
formulate and decompose annual objectives and awareness establish communication mechanisms optimize risk mitigation processes.optimize the system by using the PDCA cycle to and standardize document and record management.standardize change management
Performance Evaluation Continuous Improvement
Build a performance evaluation system to monitor and assess information Promptly address emerging issues analyze causes develop measures assess effectiveness
security status conduct regular internal audits hold at least one management and adjust the system when necessary. Make continuous improvement through various
review annually and improve the system based on the results. methods emphasize customer feedback and implement corrective actions
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Information Security Risk Management Information Security
Management Goal
To effectively manage information security risks and ensure the stable operation of the information security The Company is committed to ensuring information security with
management system the Company has developed the for
and a clear information security management goal to ensure that the
established a risk assessment method for identifying risks applicable to the information security number of major information security incidents per year is zero.management system as well as those identified in business information security and legal/regulatory This goal is advanced in coordination with the information security
requirements. Appropriate risk control measures are taken within the acceptable range of risk. management policy. The goal is broken down by the General
Manager to each department with management representatives
Preliminary Preparation Asset Identification overseeing implementation and full staff promotion training and
and Planning and Assignment
assessments to achieve efficient operation of information security
Establish a risk assessment team under the Identify seven categories of information assets management and ensure the sound development of the
leadership of Information Security enable each department identify and assign Company’ s business.Management Team and formulate and issue value to own assets and comprehensively
the evaluate and determine critical assets.Risk Identification Risk Calculation Audit of Information
and Assessment and Classification Security System
Consider factors such as threats and Calculate risk values based on relevant factors
vulnerabilities to identify risks faced by assets Hoymiles conducted an internal audit of the information systems divide risks into five levels and identify
and verify the effectiveness of existing security unacceptable risks. during the Reporting Period thoroughly reviewing the status of
measures. the Company's information systems. The scope covered
organizational general control and application control levels and
Risk Response Continuous Evaluation no significant systemic risks were found. A series of improvement
and Treatment and Optimization suggestions were proposed in areas such as strategic planning
Adopt different measures for acceptable and Reassess risks after treatment regularly or system construction system functionality and data management.unacceptable risks determine the based on specific situations conduct The Company will actively promote corrective actions based on
implementation priority and formulate and information security risk assessments and the audit opinions further improve information system
implement the risk processing plan; enable dynamically adjust asset lists and control management enhance information security protection levels and
the information security executive team to measures.strengthen the information foundation for the stable development
test and rehearse the information security
emergency response strategy and emergency of the Company’ s business.response plan on a regular basis.
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Information Security
Management System Protection of Customer Privacy
Certification
The Company has passed the ISO/IEC 27001:2022 Hoymiles consistently places high importance on customer privacy
Information Security Management System certification protection strictly adhering to information security safeguards. By During the Reporting Period
and established an information security management following standard regulations clearly defining responsibilities
No major incidents involving the breach
system in accordance with international standards in conducting risk control strengthening operational communication and
of information security data or customer
the design and production processes of inverters DTUs continuously supervising improvements the Company is dedicated to
privacy occurred in the company.and disconnectors. This system effectively identifies providing solid protection for customer privacy and fulfilling its
assesses and controls information security risks and responsibility and commitment in the field of information security.ensures the confidentiality integrity and availability of
related information assets significantly enhancing the
Compliance Comply with ISO/IEC27001:2022 standards and applicable laws and regulations to build an level of information security management.with Norms and information security management system and protect customers' privacy in all aspects.Standards
Set up an information security team clearly define the responsibilities of each department
and make precise efforts in the R&D human resources marketing and other business links to
Clear Division of
Responsibilities effectively protect customers' privacy.Formulate the
to comprehensively assess the
risk of customers' privacy-related information assets and to comprehensively assess the risk of
Execution of the information assets and the privacy of the customers.Risk Control
Establish an information security reporting and complaint mechanism make use of a variety
Enhancement of communication channels to understand internal and external feedback in a timely manner
of Operational and ensure the information security management team is responsible for receiving relevant
Communication suggestions requests and complaints.Continuous Construct a perfect supervision and evaluation mechanism and regularly carry out
Supervision and performance evaluations audits and reviews to timely identify and solve problems in customer
Improvement privacy protection.
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04
Good Life
Protecting Labor Rights and Interests
Energizing Employees’ Vitality
Focusing on Health and Safety
Creating a Secure Workplace
Fulfilling Social Responsibility
Contributing Corporate Power
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Sustainable Governance Environmental Protection Industry Value Good Life
Protecting Labor Rights and Interests Energizing Employees’ Vitality
Employee rights and interests are the core driving force for the development of the Company. Hoymiles strictly abides During the Reporting Period the Company achieved an
by the and other laws and regulations and has established an employee rights
and interests protection system covering the whole process of recruitment growth compensation and welfare focusing employment contract signing rate of 100% and
on the improvement of employees' health safety and career satisfaction. The Company resolutely eliminates child labor
and forced labor opposes discrimination and harassment in the workplace and creates a diverse equal and inclusive a social insurance coverage rate of 100%.working environment so that each employee can achieve professional growth in respect and care.Employee Composition
Number of Employees (by Gender) Number of Employees (by Age) Number of Employees(by Education Background)
589persons 29persons 17persons
Number of Employees 260persons
582persons
1637persons 245persons
Number of Employees with
1048persons 761persons 587persons 793persons
Disabilities2persons
Male Female Under 30 (exclusive) years old College Degree and Below
30 (inclusive) to 40 (exclusive) years old Bachelor’s Degree
40 (inclusive) to 50 (exclusive) years old Master’s Degree
50 years old or above Doctoral Degree
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Sustainable Governance Environmental Protection Industry Value Good Life
Labor Governance Diversity Equality and Inclusion
The Company continues to promote institutionalization and builds a Diversity Equality and Inclusion Management
scientific and perfect internal governance system by formulating the
Recruitment Management System and other human resource Hoymiles is committed to fairly compensating employees regardless of their gender race or membership status.management systems. Hoymiles in strict compliance with laws and We ensure pay equality among employee groups and use this as a basis to develop projects for improvement and
regulations such as the requirements of the
enhancement. and the
embeds labor rights protection standards into the entire
business management process. The Company strengthens Promotion of Focus on Promotion of
compliance management mechanisms ensures that all human Gender Equality Disadvantaged Groups Inclusive Culture
resource management processes are legal and compliant and Eliminate gender Support women's Emphasize the establishment of
provides institutional safeguards for employee rights management to discrimination in the career development an inclusive culture that respects
achieve a coordinated balance between business development and workplace and ensure that the employment of the diverse backgrounds of our
the protection of employees' rights and interests. male and female employees disadvantaged groups employees and encourages
enjoy equal opportunities in and pay equity employees of different cultures
The Company strictly abides by national laws and regulations and
recruitment promotion etc. and beliefs to achieve mutual
prohibits any form of illegal and forced labor including child labor
understanding and cooperation
illegal immigration slavery or human trafficking and other involuntary
or exploitative labor. The Company prohibits any form of forced labor
in business operations including recruitment and bans the
recruitment of employees under the age of 18 for any position. In the recruitment and assessment process the Human Resources Center During the
conducts open recruitment and treats all candidates fairly. During recruitment no Reporting Period
discrimination is allowed based on race religion disability gender age sex skin
During the Reporting Period color political affiliation or other differences. The Company does not interfere with The Company did
employees' beliefs lifestyle habits or specific rights in the aforementioned areas. not engage in labor
Any form of gender regional or ethnic discrimination is prohibited ensuring equal discrimination or
opportunities and treatment for every job applicant. other human rights
The Company did not engage in In the recruitment process we ensure that all workers receive equal compensation violations.child labor or forced labor. under the same conditions based on job grading and salary setting.
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Protection of Women's Rights and Interests
Hoymiles attaches great importance to the protection of women's rights and interests strictly implements the equal pay system for equal 2024
work and guarantees the rights of women employees to enjoy paid leave such as maternity checkup leave maternity leave nursing
leave childcare leave and paternity leave in accordance with laws and regulations. Moreover the Company firmly adheres to the
principle of gender equality in promotions ensures that female employees have the same promotional opportunities as male employees Proportion of Female
and eliminates any promotion discrimination based on gender. Employees in Management
The Company establishes a Women's Committee within the trade union to present female employees' voices and protects their 34.10%
legitimate rights and interests. Additionally the Company organizes regular diverse cultural and sports activities to enrich the
extracurricular cultural life of female employees.Holiday Gifts Reflecting Thoughtful Intent Stories Illuminating with Emotional Resonance
On March 8 2024 the International
Women's Day the Company hosted
the "To the Hot Self" series event.The event included providing a
half-day holiday in the afternoon
giving welfare supplies writing
short-term goals/inspirational stories
with a chance to win a lottery and
organizing female employees to
watch the movie Hot and Spicy. This
event allowed female employees to
feel the warmth and attention from
the Company and showcased the
Company's commitment to gender
equality and support for female
employees.
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Employee Recruitment and Employment
Hoymiles attaches great importance to the strategic layout of talents and regards the talent reserve as the core kinetic energy for the sustainable 2024
development of the Company and an important source of innovation and competitiveness. To meet the demands of high-quality development the
Company has established and improved systematic talent policies such as the
continuously expanding high-end talent
Frequency of
reserves and improving the diversified talent introduction mechanism to accurately attract industry elites. At the same time the Company has built a Campus Recruitment
multi-dimensional talent recruitment system covering campus recruitment social recruitment and internal referrals forming a regular and large-scale
talent supply chain that injects continuous vitality into the Company's innovative development. During the recruitment process the Human Resources 1time
Center reviews the age of applicants and strictly prohibits the recruitment of employees under the age of 18 for any position.During the Reporting Period the R&D Center employed external consultants with whom it signed labor agreements paid fair and reasonable Number of Employees
remuneration and established effective communication channels and feedback mechanisms. Recruited from
Campus Recruitment
On-campus Recruitment
86persons
Talent Acquisition Number of Female
Employees Recruited
Social Recruitment Word-of-mouth On-campus Promotion Recruitment 19persons
Number of Male
Employees Recruited
67persons
Human Resource
Clear Talent Selection and Planning Based on
Standards Training of Qualified Interviewers Long-Term Orientation
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Intensive Cultivation
Careful Selection
Employer Image
Improvement
Internal Referral
Equity Incentives
Diverse Recruitment
Channels55 56 57 58 59 60 61 62 63
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Remuneration and Benefit
Remuneration System
The Company has formulated the
and annually evaluated the market competitiveness of
During the Reporting Period
employees' remuneration in the light of the industry's compensation level and to design a leading remuneration
strategy. To maintain the ongoing vitality of the workforce the Company scientifically determines remuneration based
The Company paid salaries on time and no
on employees' value contributions.salary arrears occurred.To attract and retain outstanding talent and key business personnel and to stimulate continuous enthusiasm for all
employees to contribute to the Company we have built a compensation structure that adapts to the market system and
internal employee development.The Company implements different working systems for
Subsidies different positions including non-fixed working hours Base Pay
comprehensive working hours and standard working
Transportation subsidy meal subsidy Determined according to the minimum
business trip subsidy communication hours. The standard working hours system is Monday to wage standard of Hangzhou City
subsidy etc. calculated based on Friday from 08:30 to 17:30 with a 1-hour lunch break
employee attendance (the lunch break time is subject to the Company's
relevant notice). Non-fixed working hours positions are
generally arranged according to the Company's work
Commission Position Salary and Allowances
schedule. Positions under the comprehensive working
Calculated according to the Remuneration Determined based on position and
Structure of hours system generally follow the Company’ s working system of the Marketing Center circumstances of individual
Employees hours during non-extended work periods.employees
During the Reporting Period
Performance Bonus Overtime Pay
Based on the completion of Determined according to the overtime the Company's aaverage salary er eemployee as RMB
employees' monthly work plans regulations of the Company 249.9 thousand and tthe revenue generated
er eemployee as RMB 1.2174 million
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Employee Benefits
Hoymiles always views employees as the core resource for the Company's development and has formulated the In 2024 the Company implemented the 2024 Restricted Stock
to continuously optimize a diversified welfare system and stimulate team vitality. While Incentive Plan and the 2024 Employee Stock Ownership Plan.legally providing basic guarantees the Company customizes supplementary insurance plans based on employees' Among them under the 2024 Restricted Stock Incentive Plan
differentiated needs organizes professional health checkups regularly and enhances team cohesion through the Company granted 1389100 restricted shares at a price of
employee clubs cultural and sports events and other special activities comprehensively improving employees' job 86.99 yuan per share to 185 eligible participants. A total of 22
satisfaction and sense of corporate belonging. employees participated in the 2024 Employee Stock Ownership
Plan subscribing to 54321949.40 units of the plan corresponding
to 624462 shares from the Company’ s repurchased shares held
Five Social Insurance and one house fund Accident Insurance
Insurance in a dedicated securities account.Overseas Business Travel Insurance
Transportation subsidies communication subsidies meal subsidies high-temperature During the Reporting Period
Subsidies subsidies cold-weather subsidies dinner subsidies taxi subsidies
Total Expenditure on
Allowances Overseas expatriate allowance stationing allowance Employee Benefits
RMB 9.4684 million
Holidays Public holidays annual leave maternity leave and other statutory holidays
Team
Building Annual meeting department outing
Care for
Employee Birthday gifts birthday parties holiday gifts health check-ups and daily snacks supply
Other
Welfare Flexible working hours fitness center in the park and dormitory
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Employee Activities
To ensure that employees can have proper relaxation and rest after busy work the Company continues to enhance the cohesion and sense of well-being of its employees by providing a
wealth of cultural and sports activities and advocating a healthy lifestyle.Employees of the Company have voluntarily established Hoymiles staff clubs enabling every employee to work happily and live healthily with healthy mind and body.Five Major Staff Clubs of Hoymiles
Weekly regular activities; Biweekly regular Biweekly regular Offline – monthly themed Occasional activitiesoccasional themed events activities; occasional activities; one themed activities; Online – “Go Outthemed events event every six months to Have Fun”
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Basketball Game Badminton Tournament Football Match
Step by Step to Build Your Dreams
The General Party Branch of the Company launched a public welfare
event for International Children’ s Day on June 1. From May 6 to May
14 participants clocked in for 6 days in the [National Sports Meet]
circle with a daily minimum of 6666 steps and uploaded screenshots
from a step-counting app. Those meeting the requirements had a
schoolbag donated in their name to children in Tibet by the General
Party Branch of the Company (a maximum of 120 schoolbags). The top
3 in step count every day also received the souvenirs of Hoymiles. A
total of 120 employees participated in the event resulting in the
donation of 120 schoolbags 10 canvas bags and 2 boxes of watercolor
pens to the Primary School of the Baida Town.
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Democratic Management by Employees
Democratic Communication and Management Performance Feedback and Appeal
The Company in strict compliance with the and other
applicable laws and regulations establishes the trade union. Based on the actual situation of the
Company we have formulated the
To promote effective communication
between employees and the Company we have taken the following measures:
Performance Feedback
Held monthly new employee meetings to listen to employees' demands and provide Direct supervisors are required to maintain timely
positive feedback. communication with their subordinates regarding
performance evaluation goals and results and reach a
Carried out annual questionnaire research mainly focusing on the six dimensions of salary consensus.performance teamwork organizational development company recognition training and
development and communication to listen to employees' demands and opinions.Opened the [CEO’ s Appointment] column and enable employees regularly communicate Direct supervisors need to provide guidance to
with General Manager on a one-on-one basis every month in the form of the [General subordinates on performance indicators and key tasks
Manager's Lunch Program] and other forms of communication. solve existing problems and assist in achieving
Established internal communication channels (both real-name and anonymous) where evaluation goals.employees can reflect their own demands.Direct superiors are required to regularly submit
During the Reporting Period performance evaluation data including evaluation
results and communication outcomes online and have
1 them filed by the Human Resources Center.The Company held Employee Congress at which one project was reviewed and approved.
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Performance Appeal and Handling
If the evaluated individual is unclear about or disagrees with Collective Contract
the evaluation results they should first consult their direct or
To strengthen the Company's occupational safety and health
indirect leader. If they are dissatisfied with the consultation
management prevent and reduce production safety accidents
result they may fi le a written appeal with the Human
and occupational disease hazards protect employees' safety
Resources Center.health and legal rights and promote the healthy and harmonious
development of the Company we have signed the
The Human Resources Center is the department responsible for
accepting performance evaluation appeals. The appeal of the
To promote the establishment of a harmonious and stable
department or employee will be investigated and coordinated
socialist new type of labor relations better protect and realize the
by the Human Resources Center which will propose a solution.legitimate rights and interests of female employees and unite
If the dispute cannot be resolved it will be submitted to the
female employees to play an active role in creating a harmonious
Company's General Manager for arbitration.enterprise and achieving the Company's development goals we
have signed the
Upon receiving an employee appeal the Human Resources
Center must respond within 3 working days regarding whether
the appeal will be accepted. Appeals without objective factual
basis based solely on subjective assumptions will not be
accepted. For accepted appeals the Human Resources Center
will first investigate the content of the employee's appeal then
coordinate and communicate with the department head where
the employee works. If coordination cannot be achieved the
Human Resources Center reports to the Company's General
Manager for a final decision and informs the complainant of
the progress.
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Employee Training and Development The Company has established a sound learning and improvement
system from employees. On the one hand we set up a team of internal
trainers to summarize the internal knowledge and experience enrich
Employee Training System the training resources and help the staff to grow comprehensively. On
The Company attaches great importance to the cultivation and development of talents upholds the talent the other hand with the help of online learning platform of Hoymiles
philosophy of fostering “self-driven studious and diligent” talent formulates the
Academy the Company provides employees with convenient learning
the
the
and other related rules to services promotes talent cultivation and performance improvement
establish a sound full-stage and multi-level talent cultivation system. and promotes the realization of corporate strategy. As of the end of
the Reporting Period the Company had 15 internal trainers.Talent Output Advantages of Hoymiles Academy
Training for Career
New Employees Leadership Development
Professional General Ability Explicit Advantages
Channel Ability
Leadership of
Training for New Senior Management Improvement of Learning Efficiency: The online learning
Employees from
Social Recruitment mode of Hoymiles Academy breaks the limitation of time and Successor Program
space and employees can learn according to their own
Leadership of rhythm and schedule which greatly improves the learning
Middle Management efficiency
Hemiao Campus
Recruitment Plan Reserve Cadre Visualization of Learning Achievements: Hoymiles Academy
Training Program visualizes the learning achievements of the employees by
means of points learning progress bar certificates etc.Key Position Rotation
Enrichment of Learning Resources: The platform provides
Internal Trainer Certification Interviewer Certification Mentor Growth Camp rich and diversified learning resources including video
Job Qualification Standards courses and other learning resources to meet employees'
diverse learning needs.Hoymiles Academy - Online Learning Platform
Hoymiles Training and Development System
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Hoymiles Lecture Hall
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Manufacturing Profession
R&D Technology
Professional and Technical
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Implicit Advantages Type of Training Frequency Trainee
Training for New Employees Once a month New Employees
Cultivation of Self-Learning Ability: The online learning
platform encourages employees to learn and explore
independently fostering self-learning abilities and Leadership training Once a year Management Personnel
problem-solving skills.Training on Skills Irregular Frontline Personnel
Enhancement of Personal Competitiveness : In a
competitive workplace environment continuous learning
is key to enhancing personal competitiveness. Training on Production Safety Irregular Frontline Personnel
Courses of Hoymiles Academy
010203040506
Training for New Professional and
Market Insight Culture and Values Leadership and General Skills inEmployees Specialized Training Management Workplaces
Orientation Courses Products Marketing and Testing Development History Primary Management Professional Competency
Personal Development R&D Lecture of Founder Middle Management English Learning
Planning
Sales Brand Concept etc. Senior Management Internal Sharing etc.Courses on Rules and
Regulations Production etc.
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In 2024 the Company entered into a cooperation agreement for internal training on leadership to help the Company carry out professional systematic and continuous corporate learning
training.During the Reporting Period
Where
The Company offered a total of 27 training
Training for New Employees: Training on Annual Business Plan:
sessions at the Company level with 989 9 sessions 602 person-times of participants 1 session 94 person-times of participants
person-times of participants a total training and a total training duration of 7648 hours and a total training duration of 1504 hours
15872 Training for Employee from Campus Recruitment: Training on Common Knowledge:duration of hours a coverage rate 1 session 88 person-times of participants and a 2 sessions 80 person-times of participants
62% total training duration of 3520 hours and a total training duration of 240 hoursof and an average training duration of
Training for Middle Management: Hoymiles Academy:
16.05 13 sessions 32 person-times of participants and covering all employees (excluding direct hours per employee.
a total training duration of 1472 hours category employees) with a total accumulated
learning time of 18581.60 hours and a total of
Training on Business-Finance Integration: 243 new knowledge points added.
1 session 93 person-times of participants
and a total training duration of 1488 hours
Leadership Training for Middle Management Training for New Employees "Hemiao" New Power Special Training Camp "Hemiao"
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Career Development
The Company adheres to the "people-oriented" development philosophy dynamically optimizes the career
development system based on the business development stage continuously opens internal promotion channels
achieves a deep integration of corporate talent needs and employee career growth and builds a co-creation and
shared value community. Through mechanisms such as the
employees participate equally
in career promotion ensuring that talent development and corporate strategy resonate in harmony.To standardize the management of job transfers and ensure the legal rights and interests of both the Company
and our employees we have formulated the . Job transfers include job reassignment
promotions etc. The Company may adjust an employee's position and work location based on actual needs as
well as the employee's expertise skills abilities and performance. Employees are required to initiate the Transfer
Application Process which will be executed after being approved at each level.Career Development Pathway (M T P)
Business Leaders Professional Leaders Professional Leaders
Vice President Researchers Chief Expert
General Manager Senior Engineer Senior Expert
Director Advanced Engineer Expert
Manager Engineer Engineers/Marketers/
Managers
Supervisor
Basic Talent/Professional Talent
New Employees
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Focusing on Health and Safety Creating a Secure Workplace
The Company in strict compliance with the requirements of laws and regulations such as the
During the Reporting Period
and the
builds a perfect
occupational health and safety management system in view of the potential occupational health and safety risks in the key No major safety production accidents
links of the operation environment operation management and R&D design aiming to create a safe and healthy working occurred in the Company.environment for the employees and fully protect employees’ rights and interests.Occupational Health
and Safety Governance Chairman
The Company has established a dedicated Executive Officer
Occupational Health and Safety Management
Deputy Chairperson
Depar tment respons ib le for da i ly sa fe ty
(Safety Head)
supervision management and coordination and
has formulated safety health management
systems and operational procedures such as the
to standardize
Member Member Member Member Member Member Member Member Member Member Member
safety and health management during production
processes and ensure employees' safety and
health during production and prevent various
safety accidents and occupational hazards.Meanwhile to ensure the professionalism of
occupational health and safety management we
focus on improving the professional skills and
ab i l i t ies of re levant personnel regular ly
organizing safety management personnel to
participate in professional training to enhance Safety Production Committee of Hengming Park
their expertise and management level.
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Comprehensive
Operations Department
Lean Engineering
Department
Infrastructure
Department
R&D Department 2
R&D Department 1
System Department
Manufacturing
Quality Department
Purchasing
Department 1/2
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Logistics Department
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The management of the Company is responsible for formulating and implementing the safety production management system and ensuring the investment in safety production; the
person in charge of each department is responsible for the work of safety in production in the department and the implementation of safety measures; the individual employees need to
comply with the safety regulations and report the discovery of hidden safety hazards promptly. Individual employees are required to comply with safety regulations use labor protection
equipment correctly and report potential safety hazards in a timely manner.The Company discusses and formulates production safety objectives in the light of the hot issues of production safety in the industry and the actual situation of production safety in the
previous period and clarifies the safety objectives and responsibilities of the persons in charge of each department and the employees. To ensure the continuous health and stability of
the Company's production safety work the Company adopts the safety target assessment for each department.The Company management attaches great importance to occupational health and safety recognizing the critical role of good occupational health and safety management in the
long-term development of the enterprise. They proactively promote the establishment and implementation of the ISO 45001 system providing necessary resources and support for the
system's operation. Meanwhile the Company continually improves occupational health and safety performance continuously identifies issues in the system's operation and makes
improvements to optimize and perfect the management system.At present Hoymiles and Zhejiang Hoymiles Hangzhou Heli Haining Hengli and Zhejiang Henghe have all passed the ISO 45001 occupational health and safety management system
certification.Hoymiles Zhejiang Hoymiles Hangzhou Heli Haining Hengli Zhejiang Henghe
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Occupational Health and Safety Risk Management
Hoymiles has built a set of systematic and comprehensive risk management system
from risk identification evaluation to control thus forming a closed-loop management Indicator Unit 2024
to effectively reduce the impact of all kinds of risks on the Company's operations.Rectification Rate of Potential Safety Hazards % 100
The Administration Department organizes each center (department) to identify
occupational health hazard factors conducts preliminary assessments submits Number of Safety Production Accidents in the Year Case 0
declarations when necessary and perform periodic monitoring and management to
ensure employee health. Work-Related Fatalities Person 0
Total Number of Work-Related Injuries Person 4
Number of Working Days Lost Due to Work-Related Injuries Working Days 153
Hazard Identification
and Updates Hazard Control
For different risks control
The Administration Hazard Evaluation measures are developed
Department organizes the
including production
identification which is The combination of the
technical measures
carried out comprehensively direct judgment method Data of Hazard Identification in Each Park from January to December
management procedural
when the OHS management and the risk evaluation
documents training and
system is implemented for method for operating
education emergency
the first time and conditions (D=LEC) is 60
plans on-site supervision
re-identification is carried adopted and professional
and inspections etc. These 49
out at the beginning of each and technical personnel 50 43 45
are organized by the
year and re-evaluated and are organized to evaluate
Administration Department 40 38
updated in a variety of the risk level.in collaboration with the
situations such as the 28
Quality Management 30 23
commencement of new
Department with relevant
projects and the 16
regions (departments) 20 10
re-identification takes into 9
assisting in the execution. 8
account a variety of aspects. 10 5 5
0
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Statistics on the Categories of EHS Hazards To cope with possible emergencies the Company Chief Commander
from January to December has formulated the
Deputy Chief Commander
and other plans to clarify
3% the emergency organization and responsibilities
5% emergency response post-disposal emergency
protection special emergency plan and on-site
28% disposal plan with the aim of standardizing the
Company's emergency management of production
14% 5% safety accidents and effectively responding to
various types of accidents.Organizational Structure for Emergency Response
16%29%
Fire Safety Equipment Safety
Emergency Drill for Electric Shock Accident
Personnel Protective Environmental
Equipment Protection
Electrical Safety Others On September 26 2024 the Haining Factory conducted an emergency drill for electric shock
accident aiming to help on-site personnel enhance their safety awareness master operation
Chemical Safety
requirements for electric shock accident improve emergency response capabilities for unexpected
events and ensure the safety of the employees and properties of the Company.During the Reporting Period
The Company conducted 14
comprehensive/pre-holiday safety inspections
and 279 safety hazards were identified
with a correction rate of 100%.
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Aftercare Team
Communication
Liaison Team
Material
Support Team
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Security Team
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Fire Evacuation Drill Emergency Drill for Hazardous Chemical Leakage
On August 30 2024 the Hoymiles Base in Suzhou
On August 13 2024 Hengming Park organized an emergency drill for hazardous chemical
implemented a company-wide fire evacuation drill. The drill
leakage aiming to help on-site personnel enhance their safety awareness master operation
effectively prompted the employees to master the escape
requirements for leakage plugging improve emergency response capabilities for unexpected
and firefighting skills and also tested the Company's
events and ensure the safety of the employees and properties of the Company.emergency organization and the ability of coordination and
cooperation in the process of emergencies.Indicator Unit 2024
Training on Safety Session 31
Coverage Rate of Training on Safety % 100
Number of Participants in Safety Training Person-times 1392
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Metrics and Targets for
Occupational Health and Safety Safety Management Measures
To strengthen safety management the Company has set up a perfect To ensure the physical and mental health of employees and the safety of the working environment we
occupational health and safety production index system which covers have implemented a series of comprehensive and detailed safety management measures aiming to
hidden danger investigation and rectification detection of occupational create a zero-accident and zero-injury working environment.hazards etc. Specific occupational health and safety production targets
have been formulated accordingly aiming at creating a zero-accident Safety-Related Activities
zero-injury and healthy and harmonious working environment and
safeguarding the health and safety of employees.During the 2024 Safety Month
activities such as safety
Management Goals for 2024 Achievement knowledge quiz competitions
safety garden parties and safety
No occupational diseases occurred throughout challenge events were held
the year and no acute poisoning accidents or
fire accidents or serious injury accidents Achieved attracting over 1000 participants.occurred in the Company.During the 2024 Fire Safety
Occupational health checkups are carried out Month fire safety knowledge
once a year during in-service period Achieved
promotion fire accident warning
Hazardous wastes are 100% centralized and Achieved
standardized video viewing and hands-on
firefighting equipment drills were
Safety inspections are carried out 1 time per
quarter with a hazard identification and implemented.Achieved
rectification rate being 100%.Hoymiles Academy pushed out
safety propaganda videos such as“Safety Efforts Never Stop:During the Reporting Period the Company hired a third-partyWishing You a Safe New Year”
organization to detect and evaluate the occupational disease hazardand “First Lesson of Work: Talkfactors in the micro-reversal workshop and issued the Safety ” .
All test results meet the relevant standards.
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The Company formulated the
to standardize the construction safety management process and ensure construction safety.Training on Construction Safety Job Training for Occupational Hazards
During the Reporting Period the Facility During the Reporting Period the Manufacturing Center/Facility Department organized occupational health basic
Department carried out training on knowledge training aiming to popularize the basic knowledge of occupational health and help employees
construction safety management process understand the philosophy related to occupational health hazardous factors and key points for protection.covering the definition of construction work
scope and duties of each department
application requirements and process and
operation control etc. This helped to improve
the level of construction safety management
reduce safety accidents and safeguard the
order and safety of the construction site.Indicator Unit 2022 2023 2024
Coverage Rate of Occupational Health Checkup % 100 100 100
Permit Holding Rate for Personnel Engaged in % 100 100 100
Special Operations
Investment in Work-Related Injury Insurance RMB 10000 5.09 15.36 17.87
Coverage Rate of Work-Related Injury Insurance % 100 100 100
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Sustainable Governance Environmental Protection Industry Value Good Life
Fulfilling Social Responsibility Contributing Corporate Power
As a leading company in the field of PV energy Hoymiles has always regarded social responsibility as an important kernel of During the Reporting Period
corporate development. While deeply engaged in technological innovation and global market expansion we have devotedourselves to community construction and public welfare demonstrating the corporate commitment of “taking from society giving The Company invested a total of RMBback to society” through diversified practices.
130 thousand in public welfare.
Social Welfare
The Company fully leverages its advantages and professional capabilities to continuously carry out public welfare volunteer projects in fields such as supporting education technology
talent and community development to express gratitude and give back to society's care and support through practical actions.Supporting Universities to Cultivate Talents Promoting Industrialization of Scientific Research
The Company pays attention to innovation education and talents actively supports
the development of education in universities and colleges deepens the
industry-university-research cooperation and promotes scientific and technological
achievements to industrialization. The 2024 Asian PhD School on Advanced Power
Electronics was held in Hangzhou where the Company was specially acknowledged
by the Zhejiang University School of Electrical Engineering. This demonstrates the
Company's commitment to education and talent development encouraging more
young students to scale scientific heights and contribute wisdom and strength to
social development. In addition the Company has set up platforms for communication
and interaction encouraging university students and industry-university-research
institutions to visit the Company and communicate fully with company executives and
human resources colleagues which has facilitated close ties between academia and
industry promoted technological progress in the field of power electronics and
fostered talent development.
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Rural Revitalization
Hoymiles actively practices rural revitalization strategy. The Company closely follows national directives on green development energy conservation and emission reduction. By donating
to build PV power stations for village collectives the Company contributes to the sustainable development of villages and towns. In Lishui and several rural areas in Zhejiang Province
Hoymiles has invested in and constructed innovative technological projects such as agricultural-PV complementary and household PV power stations. These power stations not only
achieve the environmental goal of pollution-free and zero emissions but also effectively promote the optimization and upgrading of the local energy structure demonstrating Hoymiles’
firm determination and practical actions in promoting the development of green energy.Agricultural-Photovoltaic Complementary Power Station in Tea Garden Yanquan Street Xiandu Town Liandu District Lishui City
This project is jointly invested and constructed by Lishui Heguang
New Energy Co. Ltd. and Jinhua New Energy Co. Ltd. under the
control of State Power Investment Corporation. The first phase of
the project covers an area of over 4400 mu with a total investment
of approximately 704 million yuan and a total installed capacity of
264 MW. The annual power generation capacity is 277184000 kWh
which can save about 84308.55 tons of standard coal per year
and reduce approximately 225007.08 tCO2e of GHG gas emissions
1713.81 tons of sulfur dioxide (SO2) and 580.49 tons of nitrogen
oxides (NOx) annually. The local government actively attracts
investment and promotes rural revitalization and common prosperity
by extending and supplementing the chain. The project adopts the
agricultural-PV complementary model realizes three-dimensional
utilization of land protects the ecology and at the same time and
becomes the core benchmark “10000 mu and 1000 megawatts”
project in the rural revitalization demonstration area. The second
phase of the project is planned to cover 9500 mu with a total
investment of approximately 1.491 billion yuan. Construction is
planned to start in 2025 signaling a new leap in the region’ s green
energy and rural revitalization efforts.
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PV-enabled Rural Revitalization Project in Zhejiang ProvinceZhejiang Province is actively exploring the new model of “PV+ Rural Revitalization” taking the PV industry as a key
breakthrough deeply integrating green energy development
and agricultural and rural development and opening up a
new road of synergistic development of ecology and
economy. The government through policy guidance
technological innovation and project implementation
vigorously promotes the large-scale application of PV projects
in rural areas aiming to help increase farmers' income
develop rural collective economies and promote the
construction of beautiful villages. Under the strong support of
strategic backgrounds and policies such as the "Ten Million
Project" and "Muguang Action" Zhejiang Province has
adopted a cooperation model involving rooftop renting by
residents government subsidies the investment and
construction by State Power Investment Corporation Jinhua
New Energy Co. Ltd. and the operation and maintenance by
Hangzhou Heli New Energy Co. Ltd. This model has been
widely applied in Jinhua Lishui Wenzhou Quzhou and other
regions. The total installed capacity of the PV project is as
high as 6.625 MW with an average annual power generation
of 7.95 million kWh which is expected to save about 2385
tons of standard coal per year and significantly reduce GHG
emissions with a carbon dioxide reduction of about 6254
tons. In addition the cooperating farmers can increase their
annual income by about 4500 yuan achieving a win-win
situation in both economic and ecological benefits.
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Support for Community
University-Enterprise Collaboration Displays the Charm of Technology and
Integration of Science and Education Cultivates an Innovative Future
In 2024 the Company established a close
partnership with Maiyuqiao Primary School
(Wenrun Campus) aiming to promote the
growth and education of children through
resource sharing and complementary
advantages. To give students a more intuitive
understanding of new energy technology we
specially set up a product display area in the
Science and Technology Building showcasing
the Company's advanced products and
technologies and allowing students to
experience the charm of new energy
technology up close. Additionally we are
actively discussing with the school the
construction of a PV smart classroom and
plan to jointly launch new energy-themed
science popularization courses. Through lively
and engaging teaching methods we aim to
guide students in understanding the
principles applications and development
prospects of new energy cultivating their
scientific spirit and innovative thinking.
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Appendix
Appendix Ⅰ Performance Form Board of Directors
Indicator Unit 2022 2023 2024
Governance Dimension Meetings of the Board of Directors Convened Time 12 13 13
Number of Proposals Reviewed and Approved Item 37 47 52
Operating Performance Attendance Rate % 100 100 100
Indicator Unit 2022 2023 2024 Number of Members of the Board of Directors Person 9 9 9
Total Assets RMB 100 million 73.18 72.28 83.33 Number of Independent Directors Person 3 3 3
Operating Income RMB 100 million 15.37 20.26 19.93 Number of Female Directors Person 2 2 2
Net Profit Attributable to Meetings of Specialized Committees Convened Time 9 12 9
Shareholders of the Listed RMB 100 million 5.33 5.12 3.44
Company
Total Taxes RMB 100 million 1.73 2.86 2.12 Board of Supervisors
Sales of Microinverters 10000 Set 116.41 131.88 98.62 Indicator Unit 2022 2023 2024
Sales of Monitoring Equipment 10000 Set 19.65 23.75 22.93 Meetings of the Board of Supervisors Convened Time 11 11 7
Number of Proposals Reviewed and Approved Item 20 30 28
Corporate Governance Attendance Rate % 100 100 100
General Meeting of Shareholders
Indicator Unit 2022 2023 2024 Management of Remuneration for Directors
Supervisors and Senior Management
General Meeting of Shareholders Convened Time 4 5 5
Indicator Unit 2022 2023 2024
Extraordinary General Meeting of
Shareholders Convened Time 3 4 4 Total Pre-Tax Remuneration Received
by Directors Supervisors and Senior RMB 10000 617.81 556.05 466.80
Number of Proposals Reviewed and Approved Item 15 21 20 Management from the Company
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Appendix
Risk Management
Training on Risk Management Annual Cash Dividends
Indicator Unit 2024 Indicator Unit 2022 2023 2024
Training Sessions on Risk Management Time 2 Cash Dividend per Share RMB 5.30 6.0 3.2
Number of Participants in Training on Risk Management Person-time 46 Total Cash Dividend (Including Tax) RMB 10000 29547.50 49649.03 39603.97
Total Hours of Employees’ Participation in Training on Proportion to Net Profit Attributable
Risk Management Hour 86.5 to Shareholders of the Listed Company % 55.49 97.00 115.06
in Consolidated Financial Statements
Investor Relations Management and Shareholders’ Rights and Interests Business Conduct
Communication with Investors Training on Anti-Corruption for Directors and Employees
Indicator Unit 2022 2023 2024 Indicator Unit 2024
Participation in Road Shows & Number of Employees Participating in Training on Anti-Corruption Person 25
Strategy Meetings Time / 36 49
Total Duration of Training on Anti-Corruption for Employees Hour 25
Interactions with Investors on
SSE E-Interactive Person-time 20 24 13 Average Duration of Anti-Corruption
Training Received by Employees Hour/Person 1
Performance Briefings Convened Hour 3 3 3
Information Disclosure Training on Responsible Marketing
Indicator Unit 2022 2023 2024 Indicator Unit 2024
Regular Reports for Public Disclosure / 4 4 4 Number of Participants Training on Responsible Marketing Person-time 1
Provisional Reports for Public Disclosure / 61 82 76 Total Duration of Training on Responsible Marketing Hour 94
Penalties for Violations in Information Disclosure Time 0 0 0 Training on Responsible Marketing Time 1504
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Environmental Dimension
Environmental Compliance Management Water resource management
Indicator Unit 2023 2024 Indicator Unit 2023 2024
Total Investment in Environmental Protection RMB 10000 62.44 37.52 Total Water Consumption Ton 28700 27260
Environmental Emergency Drills Conducted: Time / 3 Water Consumption per Million Yuan of
Operating Revenue Ton 14.17 13.68
Pollution and Waste Energy Management
Indicator Unit 2022 2023 2024 Indicator Unit 2022 2023 2024
Waste Gas Emission 10000 m3 1195.2 2891.2 4066.7 Annual Electricity Consumption kWh 3237359 5720380 7791335.05
Wastewater Discharges Ton / / 23171 Photovoltaic Power Generation kWh / 1456300 1827374
Total Quantity of Waste Recycled Ton / / 54.0600 Gasoline Liter / / 17800
Volume of Hazardous Waste Generated Ton 39.30 60.32 38.3625 Diesel Ton / / 2328.34
Volume of Hazardous Waste Disposal Ton 39.30 60.32 38.2745 Clean Energy Usage Rate % / 1.40 8
Types of Wastewater Pollutant Social Dimension
Indicator Unit 2024
Product Quality
Chemical Oxygen Demand (COD) Ton 4.226
Five-day Biochemical Oxygen Demand (BOD5) Ton 0.314 Training on Quality
Suspended Solids Ton 1.410 Indicator Unit 2024
Ammonia Nitrogen (NH3-N) Ton 0.276 Training on Quality Time 226
Total Phosphorus (Calculated at P) Ton 0.017 Total Hours of Training on Quality Hour 1095.39
pH / 8.430 Number of Participants in Training on Quality Person-time 2390
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R&D and innovation
Indicator Unit 2022 2023 2024 Number of R&D Personnel (by Gender)
Investment in R&D RMB 10000 9739.95 24774.53 26611.45 Indicator Unit 2022 2023 2024
Percentage of R&D Investment in Male% 6.34 12.23 13.35 Person 179 309 483
Operating Income
Female Person 34 68 105
Total Invention Patents Held Item 32 36 41
Total Utility Model Patents Held Item 44 24 27
Total Design Patents Held Item 8 13 17 Protection of Customers’ Rights and Interests
Total Software Copyrights Held Item 62 69 91
Others (including Overseas Trademarks) Item 70 171 155 Customer service
Indicator Unit 2024
Customer Satisfaction % 93.6
R&D Team
Indicator Unit 2022 2023 2024 Protection of Customer Information and Privacy
Number of R&D Personnel Person 213 377 588 Indicator Unit 2022 2023 2024
Percentage of R&D Personnel % 18.83 28.63 35.92 Training on Data Security Time 2 9 10
Number of Participants in Training on
Data Security Person-time 286 456 236
Number of R&D Personnel (by Education Background) Number of Incidents Involving Leakage
of Customer Information Case ０ 0 0
Indicator Unit 2022 2023 2024
College Degree and Below Person 55 58 59
Supply chain management
Bachelor’s Degree Person 118 236 362
Master’s Degree Person 46 73 152 Indicator Unit 2022 2023 2024
Doctoral Degree Person 6 10 15 Total Number of Suppliers / 217 270 291
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Labor’s Rights And Interests
Employee Recruitment and Employment Number of Employees (by Age)
Indicator Unit 2022 2023 2024 Indicator Unit 2022 2023 2024
Employment Contract Signing Rate % 100 100 100 Under 30 (exclusive) years old Person 247 409 587
30 (inclusive) to 40 (exclusive) years old Person 513 625 761
40 (inclusive) to 50 (exclusive) years old Person 290 247 260
Avoidance of Child Labor or Forced Labor 50 years old or above Person 84 36 29
Indicator Unit 2022 2023 2024
Number of Incidents of Child Labor Case 0 0 0
Complaints of Forced Labor Case 0 0 0
Number of Employees (by Education Background)
Indicator Unit 2022 2023 2024
Doctoral Degree Person 7 12 17
Diversity and Equal Opportunity Master’s Degree Person 72 155 245
Indicator Unit 2022 2023 2024 Bachelor’s Degree Person 284 551 793
Number of Employees Person 1131 1317 1637 College Degree and Below Person 770 599 582
Number of Employees with Disabilities Person 1 1 2
Number of and Employees (by Gender) Protection of Women's Rights and Interests
Indicator Unit 2022 2023 2024 Indicator Unit 2022 2023 2024
Female Person 523 566 589 Proportion of Female Employees in Management % 34.38 36.07 34.10
Male Person 608 751 1048 Return Rate of Employees on Maternity Leave % 100 100 100
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Benefits and Compensation Training on Safety
Indicator Unit 2022 2023 2024 Indicator Unit 2024
Social Insurance Coverage Rate % 100 100 100 Training on Safety Session 31
Total Expenditure on Employee Benefits RMB 10000 523.25 628.54 946.84 Coverage Rate of Training on Safety % 100%
Number of Participants in Safety Training Person-time 1392
Employee Training
Indicator Unit 2024 Occupational Health
Investment in Employee Training RMB 10000 81.74 Indicator Unit 2022 2023 2024
Training Sessions Sessions 27 Coverage Rate of Occupational
Health Checkup % 100 100 100
Total Hours of Training: Hour 15872
Permit Holding Rate for Personnel
Total Number of Persons Trained Person-time 989 Engaged in Special Operations % 100 100 100
Coverage Rate of Employee Training % 62 Investment in Work-Related Injury (Training Ratio of Employee) Insurance RMB 10000 5.09 15.36 17.87
Coverage Rate of Work-Related
Injury Insurance % 100 100 100
Occupational Health and Safety
Safety Production
Social Welfare
Indicator Unit 2022 2023 2024
Number of Safety Production Accidents Case 0 0 0 Indicator Unit 2022 2023 2024
Number of Work-Related Deaths Person 0 0 0 Total Investment in Social Welfare RMB 10000 21 0 13
Total Number of Work-Related Injuries Person / / 4
Number of Working Days Lost Due to
Work-Related Injuries Working Days / / 153
Identification and Rectification Rate of
Potential Hazards % / / 100
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Appendix II
Indexes
Shanghai Stock Exchange Self-Regulatory Global Reporting Initiative Guide to Corporate
Corresponding Section Supervision Guidelines for Listed Companies No. "Sustainability Reporting Sustainability Reporting in China
14 - Sustainability Report (for Trial Implementation) Standards" (GRI Standards) CASS-ESG 6.0
About This Report Article 4 and Article 6 2-2/2-3 P1.1/P1.2
Message from the Management / / P2.1
Sustainable Development Highlights / / /
About Hoymiles / 2-1 P3.1-P3.3
Sustainable Governance
Sustainable Development Policy Articles 12 and 13 2-22 G1.1.7
Implementing Sustainable Development Vision and Goal Article 11 and Article 19 / G1.1.11
Development Policy
and Enhancing Sustainable Development Governance Articles 11 12 18 and 19 2-9/2-14 G1.1.1/G1.1.2/G1.1.4/G1.1.5/G1.1.8/G1.1.10
Governance
Foundations Communications with Stakeholders Article 9 and Article 53 2-29 G1.3.1/G1.3.2
Management of Material Topics Article 5 3-1/3-2/3-3 G1.1.9
Governance through the General Meeting of Shareholders
Board of Directors and Board of Supervisors / 2-27 /
Implementing Management of Remuneration for Directors
Supervisors and Senior Management / 2-19/2-20 /Compliant Corporate
Governance
Protecting Compliant Operation / 2-27 /
Stakeholders’ Rights
and Interests Risk Management / 2-27/207-1/207-2 /
Internal Control / 2-27 /
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Shanghai Stock Exchange Self-Regulatory Global Reporting Initiative Guide to Corporate
Corresponding Section Supervision Guidelines for Listed Companies No. "Sustainability Reporting Sustainability Reporting in China
14 - Sustainability Report (for Trial Implementation) Standards" (GRI Standards) CASS-ESG 6.0
Investor Relations Management and
Shareholders’ Rights and Interests / 2-27 /
Anti-bribery and Anti-corruption System Article 55 2-27 G2.1.1/G2.1.7
Adhering to
Integrity and Measures for Anti-Bribery and Anti-Corruption Article 55 205-2 G2.1.2/G2.1.3
Anti-Corruption
Sticking to the
Bottom Line of Anti-Unfair Competition Article 56 2-27/206-1 G2.2.2
Integrity
Anti-Money Laundering / 2-27 /
Environmental Protection
Governance to Address Climate Change Article 12 and Article 21 / E1.1.1
Responding to Climate Strategies to Address Climate Change Articles 13 to 17 21 and 22. 201-2 E1.1.2/E1.1.6
Challenges Assisting in
Low-carbonlransformation Management of Impact Risk and
Opportunity to Address Climate Change Articles 18 21 and 23 / E1.1.3/E1.1.6
Metrics and Targets to Address Climate Change Article 19 and Article 21 / E1.1.4
Improvement of Environmental Management System Article 31 2-27 E2.1.1
Improving Environmental Monitoring and Environmental
Environmental Impact Assessment (EIA) Acceptance
/ / E2.1.9
Management Emergency Response Plans and Drills
Safeguarding Against Environmental Risks / / E2.4.1-E2.4.3
Environmental Management of Wastewater Waste
Protection 2-27/306-2/306-3/306-Gas Solid Waste and Noise Articles 30 and 31 E2.1.6/E2.2.6
Boundaries 4/306-5
Metrics and Targets for
Environmental Management / / E2.1.7
Optimizing Energy
Utilization Achieving Energy and Water Resources Management Article 35 302-1/302-3 /
Energy Conservation
and Consumption Energy and Water Resources Management Strategy Articles 34 to 36 302-4 E3.1.1/E3.3.2
Reduction
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Shanghai Stock Exchange Self-Regulatory Global Reporting Initiative Guide to Corporate
Corresponding Section Supervision Guidelines for Listed Companies No. "Sustainability Reporting Sustainability Reporting in China
14 - Sustainability Report (for Trial Implementation) Standards" (GRI Standards) CASS-ESG 6.0
Management of Impacts Risks and Opportunities
Occurring in Resource Management Article 35 302-1/302-3/302-4 E3.1.1/E3.1.2/E3.1.4/E3.1.5/E3.2.1/E3.2.3
Metrics and Targets for Resource Efficiency Article 35 / E3.3.2
Green Office Article 35 302-4 E3.2.3/E3.3.2
Exploring Material Circulation Improving Resource Efficiency / / E3.3
Protecting Ecological Balance Maintaining Biological Diversity Article 32 101-1/101-2 E2.3
Industry Value
Supply Chain Management System Articles 44 and 45 414-1 S3.1.3
Building Supplier ESG Management Article 45 414-1 S3.1.2/S3.1.3
Responsibility
Chain Supplier Digital Management Article 45 414-1 S3.1.3
Coordinating
Industry
Development Transparent Procurement Article 45 / S3.1.3
Training on Supply Chain / / /
Governance for Innovation-Driven Development Articles 12 41 and 42 / S2.1.2/S2.1.6/S2.1.7
Strategy for Innovation-Driven Development Articles 12 to 17 41 and 42 / S2.1.1/S2.1.4-S2.1.7/S2.1.8-S2.1.11
Management of Impact Risk and Opportunity
Strengthening of Innovation-driven Development Articles 18 41 and 42 / S2.1.3/S2.1.12
Innovation-Driven
Development Metrics and Targets Articles 19 41 and 42 / S2.1.2
Leading the
Industry Scientific and Technological Innovation Projects Articles 41 and 42 203-1 S2.1.3-S2.1.5/S2.1.9-S2.1.12
Upgrading
Training on Innovative Development Articles 41 and 42 / /
Promotion of the Development of
New Quality Productive Forces Articles 41 and 42 203-1 S2.1.13
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Shanghai Stock Exchange Self-Regulatory Global Reporting Initiative Guide to Corporate
Corresponding Section Supervision Guidelines for Listed Companies No. "Sustainability Reporting Sustainability Reporting in China
14 - Sustainability Report (for Trial Implementation) Standards" (GRI Standards) CASS-ESG 6.0
Protection of intellectual property rights Articles 41 and 42 / S2.1.9-S2.1.11
Governance for Safety and
Quality of Products and Services Article 12 and Article 47 / S3.3.1
Product Quality and Safety Strategy Articles 12 to 17 and Article 47 / /
Keeping Strict Management of Impact Risk and Opportunity
of Safety and Quality of Products and Services Article 18 and Article 47 / /Control of Quality
and Safety
Fortifying the Metrics and Targets for Product Quality and Safety Article 19 and Article 47 / /
Line of Defense
for Security Management Measures for Safety and Quality of Products and Services Article 47 416-1/417-1 S3.3.5
Product Recall Mechanism Article 47 416-1/417-1 S3.3.5
Employee Training on Quality Article 47 / /
Informatization Management System Article 48 / S3.4.1
Optimizing
Customer
Service Customer Complaint and Feedback Article 44 / S3.3.6
Improving
Customer Customer Satisfaction Article 44 / /
Experience
Enhancement of Globalized Services / / /
Information Security Management System Article 12 and Article 48 417-1 S3.4.1
Information Security Risk Management Article 18 and Article 48 417-1 S3.4.1
Ensuring
Information
Security Information Security Management Goal Article 18 and Article 48 417-1 S3.4.1
Protecting
Customer Audit of Information Security System Article 18 and Article 48 417-1 S3.4.1
Privacy
Information Security Management
System Certification Article 18 and Article 48 417-1 S3.4.1
Protection of Customer Privacy Article 48 417-1 S3.4.3/S3.4.4
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Shanghai Stock Exchange Self-Regulatory Global Reporting Initiative Guide to Corporate
Corresponding Section Supervision Guidelines for Listed Companies No. "Sustainability Reporting Sustainability Reporting in China
14 - Sustainability Report (for Trial Implementation) Standards" (GRI Standards) CASS-ESG 6.0
Good Life
Labor Governance Article 50 2-7/401-1/405-2 S4.1.3/S4.1.4/S4.1.6/S4.1.9
Diversity Equality and Inclusion Article 50 2-7/401-3/405-2/406-1 /
Protecting
Labor Rights
and Interests Employee Recruitment and Employment Article 50 2-7 S4.1.1/S4.1.2/S4.1.11
Energizing
Employees’ Remuneration and Benefits Article 50 2-7/2-19/401-2 S4.1.5/S4.1.7
Vitality
Democratic Management by Employees Articles 49 and 50 2-7/407-1 S4.1.12
Training and Development Article 50 2-7/404-1/404-2/404-3 S4.3.1-S4.3.6
Occupational Health and Safety Governance Article 50 2-27/403-1 S4.2.2
Focusing on Occupational Health and
Health and Safety Risk Management Article 50 2-7/403-2/403-3/403-5 S4.2.1/S4.2.4
Safety Creating
a Secure Metrics and Targets for
Workplace Occupational Health and Safety
Article 50 2-7/403-9 /
Safety Management Measures Article 50 2-7/403-6/403-7 S4.2.5/S4.2.6
Social Welfare Article 40 203-1 S1.2.1/S1.2.2/S1.2.5/S1.2.6
Fulfilling Social
Responsibility
Contributing Rural revitalization Article 39 203-1 S1.1.2-S1.1.5
Corporate Power
Support for Community / 203-1 /
Performance Form Article 6 / A2
Indexes Article 57 / A3
Independent Assurance Statement Article 58 2-5 A4
Feedback Article 9 / A6
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Appendix III
Independent Assurance Statement
Report
Report
2024 Sustainability Report Report
Report
Report
Report
Report
AA1000 Assurance Report
Standard v3 GRI
Standards International Financial
Reporting Standards - Sustainability Disclosure Standards
Sustainability Reporting
Guidelines ESG Reporting Code
Report
Report
Report
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Report
Report
Report
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Appendix IV
Feedback
Thank you for reading the To improve Hoymiles's performance in environment society and governance further enhance its sustainable
development capabilities and levels and strengthen communication with all sectors of society we sincerely hope that you will provide valuable feedback and suggestions on our work and
report amidst your busy schedule through the following modes.Tel.: 0571-28060318 Your Information
Fax: 0571-28056101
Email: dongmiban@hoymiles.com Name：___________________ Tel：______________________
Address: Floor 6 Building 5 Caizhi SF Innovation Center No. 99 Housheng Street Kangqiao
Avenue Gongshu District Hangzhou City Zhejiang Province China Unit：_____________________ Email：___________________
Multiple Choice Questions (Please check the appropriate box)
1．Your overall assessment of this 2024 Sustainability Report of Hoymiles: 5．How do you think Hoymiles has performed in terms of team building
□ Good □ Average □ Needing Improvement □ Not understand □ Good □ Average □ Needing Improvement □ Not understand
2．How do you think Hoymiles has performed in terms of customer service 6．How do you think Hoymiles has performed in terms of social welfare
□ Good □ Average □ Needing Improvement □ Not understand □ Good □ Average □ Needing Improvement □ Not understand
3．How do you think Hoymiles has performed in terms of technological innovation 7．How do you think Hoymiles has performed in terms of sustainable supply chains
□ Good □ Average □ Needing Improvement □ Not understand □ Good □ Average □ Needing Improvement □ Not understand
4．How do you think Hoymiles has performed in terms of corporate governance 8．Do you have any comments on Hoymiles’ s performance in sustainable development
□ Good □ Average □ Needing Improvement □ Not understand ____________________________________________________________________________________________
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