Stock Code：688100
2024
Environmental Social and
Governance（ESG）ReportIntroduction Report ScopeThe organizational scope of this report covers Willfar
Information and its subsidiaries consistent with the
This report is the 4th Environmental Social Company's Annual Report for 2024.and Governance “( ESG”) Report released by The time scope of this report is from January 1 2024 to
Willfar Information Technology Co.Ltd “( Will- December 31 2024 “( reporting period”). To enhance
the comparability of the report some content tracesfar Information”“the Company”o“r we”) for back historical information.the purpose of disclosing Willfar Informa-
tion’s practices and performance in ESG to all Report Basis
stakeholders.The Guidelines No. 14 of Shanghai Stock Exchange for
Self-Regulation of Listed Companies-Sustainability
Report (Trial)
The Global Reporting Initiative's Sustainability Report-
ing Standards (GRI Standards )
The United Nations Sustainable Development Goals
Contact Information (SDGs)
The China Corporate Sustainability Reporting Guide-
Address: Wasion Science and Technology lines (CASS-ESG 6.0)
Park 468 Tongzipo West Road Yuelu District
Changsha City Hunan Province China Data Explanation
Postal Code: 410205 The data and information in this report are derived from
internal company documents statistical reports etc.Phone： 0731-88619798 Unless otherwise specified the denominated currency of
Fax： 0731-88619639 the financial data covered in this report is RMB
Email： tzzgx@willfar.com
Reliability Statement
Website：http://www.willfar.com
This report was confirmed by the Board Strategic & ESG
WeChat Account：Willfar Information Tech- Committee and subsequently approved by the Board of
nology Co. Ltd. Directors on February 27 2025. Willfar Information
hereby declares that this report contains no false records
or misleading statements. To further ensure the authen-
ticity and reliability of the report we have engaged
Pan-China Certified Public Accountants LLP to conduct
independent third-party assurance on this report.Report Release
This report is released in electronic form and can be
accessed on the website of Shanghai Stock Exchange
(www.sse.com.cn) the official website of Willfar Informa-
tion（http://www.willfar.com） and the official WeChat
account of Willfar Information. This report is available in
both Simplified Chinese and English for readers'
reference. In case of any discrepancies the Chinese
version shall prevail.WILLFAR INFORMATION
2024 ESG REPORT 01Contents
Transparent Governance
and Standardized Operations
Preface 03 1. Strengthening Corporate Governance 12
About Us 04 2. Stable and Compliant Operation 15
3. Commitment to High-Quality 19
Information Disclosure
4. Valuing Investor Relations Management 21
23
Innovation-Driven and Digital Empowerment
Intelligent Future and Green Efficiency
1. Building Excellence in Quality 26 1. Practicing Low-Carbon Operations 37
2. Innovation Leads the Future 30 2. Accelerating the Modernization 41
3. Promoting Industry Collaboration 36 Transformation of the Energy System
4
Responsibility at Heart Communication with Stakeholders 69
Accountability in Action Materiality Issue Identification 70
Report Index 72
1. Building Sustainable Supply Chain System 51
2. Customer-Centric Responsibility Practices 53
3. Ensuring Information Security 54
4. Commitment to People-Centric Approach 55
5. Engaging in Social Welfare 67
WILLFAR INFORMATION
2024 ESG REPORT 02Preface
In today's world where the global economy is undergoing
profound transformation and sustainable development has
become the mainstream of the times Willfar Information as a
leading provider of Energy Internet of Things (IoT) solutionsadheres to the development strategy of“ Connecting the Worldwith IoT Connecting the Future with Core Technologies.” We
actively engage in ESG practices and makes every effort to
promote towards a new journey of high-quality development
and aspires to become a model of sustainable development in
the industry.WILLFAR INFORMATION
2024 ESG REPORT 03About Us
Company Profile
Willfar Information Technology Co. Ltd. was established in 2004 and is one of the earliest enterprises specializ-
ing in the Energy IoT in China. It is also a high-tech enterprise and a national-level specialized refined unique
and innovative enterprise. It was listed on Shanghai Stock Exchange Science and Technology Innovation Board
“( SSE STAR Market”) (Stock Code: 688100.SH) on January 21 2020.As a leading provider of comprehensive digital energy solutions Willfar Information adopts the development
strategy of“ Connecting the World with IoT Connecting the Future with Core Technologies.” We have established
a core competitive edge integrating the IoT chips and artificial intelligence. We are firmly committed to an
innovation-oriented approach focusing on the frontiers of science and technology addressing major nationaldemands and targeting the main economic battlefield. We are resolutely advancing our“ InternationalizationStrategy” to accelerate global expansion and strive to become a world-leading provider of intelligent and digital
energy solutions.Corporate Culture
Corporate Purpose Perfect work with passion Corporate Mission
and success achieved with integrity
Create values for shareholders with sustained Striving to be the most reliable expert on smart city and
competitive advantage and profitability as a whole. energy internet of things through our outstanding
information dialysis power and strong driving power on
Create value for users by providing more accurate energy internet of things so as to benefit every city
reliable and intelligent system solutions and services. every community every enterprise and every family by
using our products technologies and services.Create values for employees with just and decent
wages welfare and occupational development.Corporate Spirit Be cohesive ambitious
Create values for suppliers by long-term cooperation and down-to-earth and creative
co-development based on mutual creation and sharing. To utilize the most of one’s talent and duly perform
one’s job duty; helping and learning from each other
Create values for our country through our increasing- with mutual understanding and concession.ly tax contribution and the industry leadership.To fear not any competition and dare to win; To fear not
Create value for the industry by continuously any challenge and be bold to surpass.promoting the construction of Energy IoT and the To treat others honestly and work in a pragmatic way;
digitalization of comprehensive urban governance find out and seek truth from facts.capacity with exceptional insights into information
technology and robust capabilities in Energy IoT. To have bold ideas and verify them carefully; willing to
make innovations and create values.WILLFAR INFORMATION
2024 ESG REPORT 04Social Recognition ESG Management
Inclusion in the SSE STAR Market ESG Index Wind ESG Rating "A" Level
Inclusion in the SSE STAR Market Artificial Huazheng ESG Rating "A" Level
Intelligence Index Selected into the“ ESG Best Practice Cases of Listed Companies” by
Inclusion in the SSE 380 Index the China Association for Public Companies (CAPCO)
Inclusion in the SSE STAR Market 100 Index Cailian Press“ Best ESG Award”
Top 100 A-Share Listed Companies with the Best ESG Rating
Improvement by Huazheng in 2024
Best ESG Practice by New Fortune Magazine in 2024
ESG Golden Dawn Award for Best ESG Practice Enterprises by China
Securities Market Weekly in 2024
Technological Innovation
National-Level Specialized Refined Unique and Innovative
“Little Giant” Enterprise
National Intellectual Property Advantage Enterprise
China Patent Excellence Award
The 19th "China Chip" Excellent Market Performance Product for 2024
The Highest AAA-level Certification of the Integration of Informatization
and Industrialization Management System in 2024 by the Ministry of
Industry and Information Technology
Top 100 Internet Companies in China by Comprehensive
Strength in 2024
Environmental Top 50 Chinese Listed Companies in New Quality Productive ForcesTechnology Progress Award by China Electric Power Research InstituteProtection Ranked on the“ China Brand Value Evaluation InformationList - Electronic and Electrical Brand Value List”
National-Leve“l Green Factory” Top 30 Internet Companies in Hunan Province by Comprehensive
Strength in 2024
National-Level Green Supply Chain Management Enterprise Key Software Enterprise in Hunan Province in 2024
“Xinhua Credit Jinlan Cup” Excellent Cases on Carbon Peak
and Carbon Neutrality Top 100 Enterprises in Hunan Xiangjiang New Area in R&D Investment for 2024
Director Unit of Hunan Green Manufacturing Industry Federation Newly Recognized Provincial Innovation Platforms in Hunan
Xiangjiang New Area in 2024
Social Responsibility Corporate Governance
National Model Enterprise for the Creation of Harmonious
Labor Relations Consecutive Two-Year Highest A-Level Rating for Information Disclosure by the SSE
Top 50 Employers in Job Absorption for 2023
Best Practice of the Board of Directors by the CAPCO
Class A Unit in Labor Protection Law Compliance and
Integrity in 2023 Best Practice of Earnings Presentation by the CAPCO
Recognized as an A-level Tax Credit Enterprise for 19 consecutive years Best Practice of the Board Office by the CAPCO
Top 100 High-Tech Enterprises in Hunan Province in Tax Contribution in 2023 Golden Bull Award - Golden Disclosure Award by China
Top 100 Private Enterprises in Hunan Province in Tax Contribution for 2023 Securities Journal
Top 50“ Specialized Refined Unique and Innovative” Small and Annual Top Growth Enterprises among China A-Share Listed
Medium-Sized Enterprises in Hunan Province in Tax Contribution for 2023 Companies in 2024
Top 100 Taxpaying Enterprises in Xiangjiang New Area Hunan Top 30 Valued Companies on the STAR Market
Province in 2024
Top 100 Taxpaying Enterprises in Xiangjiang New Area Hunan The Best Listed Companies of 2024 by New Fortune Magazine
Province in 2023
WILLFAR INFORMATION
2024 ESG REPORT 05Participation in Industry Associations
Association Name Membership Level
IEEE (Institute of Electrical and Electronics Engineers) Senior Member
IEEE Power & Energy Society Member
Wi-SUN Alliance Member
G3 Alliance Member
Global Energy Interconnection Development and Cooperation Organization Member
China Energy Research Society Executive Director
China Electricity Council Director
Chinese Society for Measurement Director
National Technical Committee for Standardization of Electrical Measuring Instru-
ments — Subcommittee on Measuring Equipment for Electrical and Electromagnet- Member
ic Quantities Subcommittee on Equipment for Electrical Energy Measurement and
Load Control
China Enterprise Confederation Group Member
Internet+ Development Association of China Member
China Association for Quality Member
China Instrument Manufacturer Association Member
China Electricity Council Integrated Circuit Standardization Technical Committee Member
WILLFAR INFORMATION
2024 ESG REPORT 06Association Name Membership Level
Carbon Neutrality and New Materials Professional Committee of China Electricity
Technology Market Association Vice President
China Urban Water Association Director
China Smart Distribution and Internet of Things Innovation Alliance Deputy Group Leader
Boao New Power System Special Committee Member
China Metrology Association Water Meters Working Committee Member
EPTC Smart Distribution Expert Working Committee Member
Equipment and Materials Working Committee of China Urban Water Association Member
Hunan Provincial Government Procurement Association Executive Vice President
Hunan Enterprises and Industrial Economy Federation Hunan Province Enterprises
and Industrial Economy Federation Vice President
Hunan Entrepreneurs Association Vice President
Hunan Provincial Instrument and Meters Association Chairman
Mobile Internet Association of Hunan Province Vice Chairman
Hunan Information and Communication Industry Association Internet of Things
Special Committee Vice Chairman
Water Meter and Gas Meter Professional Committee of Hunan Provincial Instrument Deputy Director
and Meters Association
Hunan Association for Campus Management Executive Director
Hunan Software Industry Association Executive Director
Hunan Electric Power Industry Association Director
Hunan Internet Society Director
Hunan Green Manufacturing Industry Federation Director
Hunan Urban and Rural Construction Industry Association Water Supply Branch Director
Xinjiang Urban Water Association Director
Hunan Urban and Rural Construction Industry Association Drainage Branch Special Committee
Hunan Electrical Engineering Society Member
Hunan Association of Automation Member
Hunan Semiconductor Industry Association Member
Hunan Provincial Electricity Market Management Committee Member
Hunan Province Artificial Intelligence Industry Innovation Alliance Member
Hunan Sensor Industry Promotion Association (2021-2025) Member
Hunan Kunpeng Computing Industry Technology Innovation Strategic Alliance Member
Hunan Trademark and Brand Association Member
Hunan Contract Compliance and Credit Association Member
Fujian Digital Economy Industry Ecological Alliance Member
Shenzhen Water Association Member
Gansu Water Association Member
GuangXi Urban Water Association Member
GuangDong Water Supply Association Member
Yunnan Water Supply Association Member
Fujian Urban and Rural Water Affairs Association Member
Hunan Provincial Joint Research Center for New Power System Development Participating Unit
WILLFAR INFORMATION
2024 ESG REPORT 07System Certification
Certification Standard Field of Certification Certification Body
GB/T 19001-2016/ISO 9001:2015 Quality Management System DNV（Det Norske Veritas）
GB/T 24001-2016/ISO 14001:2015 Environmental ManagementSystem World Standards For Certification Center Inc.Occupational Health and Safety
GB/T 45001-2020/IS0 45001:2018 Management System World Standards For Certification Center Inc.CMMI MATURITY LEVEL-5 CMMI5 Capability Maturity Model CMMI Institution Partner ? Guangzhou Integration for Development Tongbang Information Technology Co. Ltd.GB/T 19022-2003/ISO 10012:2003 Measurement Management System Beijing Zhong An Zhi Huan Certification
Center Co. Ltd.GB/T 23331-2020/ISO 50001:2018
RB/T 101-2013 Energy Management System China Quality Mark Certification Group
RB/T 119-2015
GB/T 22080-2016/ISO/IEC Information Security Management World Standards For Certification
27001:2013 System Center Inc.
ISO/IEC 20000-1:2018 Service Management System Kiwa BCC
GB/T 27922-2011 (Five-Star) After-Sales Service System ZXSI Standard Certification Co. Ltd.GB/T 27922-2011
GB/T 16868-2009 (Seven-Star) The Level of Completeness of After-Sales Service ZXSI Standard Certification Co. Ltd.SB/T 11052-2013
ANSI/ESD S20.20-2021 Electrostatic Discharge (ESD) China Electronic Antistatic Equipment Control System Association
ISO 28000:2022 Supply Chain Security Shenzhen Guoxintong Certification Co. Ltd.Management System
GB/T 23001-2017 Integration of Information and China Classification Society
GB/T 23006-2022 Industrialization Management
System AAA Certification Co. Ltd.GB/T 29490-2023 Intellectual Property Management Bochuang Zhongcheng (Beijing) System Certification Services Co. Ltd.GB/T 39604-2020 Social Responsibility Management System World Standards For Certification Center Inc.GB/T 32161-2015 Green Design Product Evaluation Shenzhen Guoxintong Certification Co. Ltd.T/CIECCPA 060-2023 Carbon Neutrality Management System Best Certification Co. Ltd.Q/BSTRZ 012-2024 Green Transport Enterprises Best Certification Co. Ltd.Management System
Q/BSTRZ 011-2024 Green Packing Managemen Best Certification Co. Ltd.System
WILLFAR INFORMATION
2024 ESG REPORT 08International Certification
Certification Standard Field of Certification
Global CMMI Level 5 Certification for Software Maturity Others
CE-RED EU Radio Equipment Directive Certification Certifications for Grid and Communication
Wi-SUN FAN International Standard Certification Certifications for Grid and Communication
SGS Precision Certification Certifications for Grid and Communication
CNAS Type Certification Certifications for Grid and Communication
CNAS Conformity Assessment Certification Certifications for Grid and Communication
EU G3 Conformity Testing Certification Certifications for Grid and Communication
FCC Certification (US) Certifications for Grid and Communication
NOM Metrology Certification (Mexico) Certifications for Grid and Communication
Anatel Certification Standards (Brazil) Certifications for Grid and Communication
IFT Certification (Mexico) Certifications for Grid and Communication
OIML R49 Certification Certifications for Smart Water Meter and Gas Meter
MID Certification Certifications for Smart Water Meter and Gas Meter
SGC IP68 Dustproof and Waterproof Certification Certifications for Smart Water Meter and Gas Meter
ISO 4064 Certification Certifications for Smart Water Meter and Gas Meter
WRAS Water Safety Certification Certifications for Smart Water Meter and Gas Meter
OMS Communication Compliance Certification Certifications for Smart Water Meter and Gas Meter
STS Prepaid Product Certification Certifications for Smart Water Meter and Gas Meter
LoRaWAN Certification Certifications for Smart Water Meter and Gas Meter
CE Safety Certification Others
EMC Certification Others
SQM (Saudi Quality Mark) Factory Certification from SASO
(Saudi Standards Metrology and Quality Organization) Others
obtained by Winmeter Energy’s Factory
WILLFAR INFORMATION
2024 ESG REPORT 092024 Key Performance Highlights
40% As of January 31 20252.75 billion millionyuan Cash Dividend 323 yuan
Operating Revenue Payout Ratio Cumulative
Repurchase Amount
+23.35% As of January 31 2025Repurchase and Cancellation
Year-on-Year Growth 8.31million 13.02
million
shares
shares Cumulative Number of
(representing 1.66% of the total share capital)
Equivalent to approximately 200 million yuan Repurchased Shares
in cash dividends
631 millionyuan
900 million 241
million
yuan
Net Profit Attributable yuan
to the Parent Company R&D InvestmentCumulative Dividends Distributed
Repurchased and Cancelled Since IPO
+20.07%5.95%
Year-on-Year Growth 17.15% Year-on-Year Growth
Compound Annual Growth
Rate (CAGR) of Revenue 51.34%
22.98% Since IPO Percentage of R&D
Personnel
Net Profit Margin
Attributable to the Parent 23.74%
Company Compound Annual Growth 700+
Rate (CAGR) of Net Profit Accumulated Patents
Since IPO Granted
Return on
Equity (ROE)
20.39% 3063.83tCO2e 42.86%
grow by 1.47percentage points Percentage of Female Total Greenhouse Gas
compared to last year Directors Supervisors Emissions (Scope 1 + Scope 2) and Senior Executives
26.66%
Total Shareholder Return (TSR) 15.25% 100%
Year-on-Year Decrease Employee Integrity
Commitment Letter
Signing Rate
220 tCO2e/ ten thousand yuanmillion of annual revenueyuan 0.01 Hours per
Total Annual Tax Greenhouse Gas Emission 46.83 Person
Payments Intensity (Scope 1 + Scope 2) Average Training
WILLFAR INFORMATION
2024 ESG REPORT 10Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
01
Transparent Governance and
Standardized Operations
As a company committed to innovation and sustainable 1.Strengthening Corporate Governance
development listed on the SSE STAR Market Willfar Informa-
tion has established robust corporate governance as the 1.1 Operation of Shareholders’ Meeting Board
cornerstone of our stable operations. By building a transparent of Directors and Supervisory Board
and efficient governance framework we adhere to compliance
and lawful operations while continuously optimizing mecha- 2. Stable and Compliant Operation
nisms to protect shareholder rights. Simultaneously we 2.1 Compliance and Risk Management
prioritize investor relations management committing to 2.2 Paying Taxes in Accordance with the Law
transparent and accessible communication and pioneering 2.3 Adhering to Business Ethics
innovative practices in information disclosure to empower
investors with deeper insights into our business.
3. Commitment to High-Quality
Looking ahead we remain steadfast in modernizing Information Disclosurevz
governance capabilities through four strategic pathways 3.1 Enhancing the Standardization of Information Disclosure“ensuring shareholder rights protection innovating 3.2 Improving the Effectiveness of Information Disclosuregovernance mechanisms upgrading risk prevention systemsand deeply integrating ESG principles.” These efforts will 4.Valuing Investor Relations Management
further solidify our governance foundation to deliver sustain-
able long-term returns for investors. 4.1 Optimizing Investor Relations
4.2 Enhancing the Internationalization of Investor Relations
4.3 Focusing on Investor Returns
WILLFAR INFORMATION
2024 ESG REPORT 11Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
01 CORPORATE GOVERNANCE
Strengthening
Corporate Governance
1.1 Operation of Shareholders’ Meeting Board of Directors and Supervisory Board
Willfar Information strictly complies with the requirements of laws and regulatory documents such as the Company
Law of the People's Republic of China the Securities Law of the People's Republic of China the Corporate Gover-
nance Standards for Listed Companies the Administrative Measures for Independent Directors of Listed Companies
the Listing Rules of SSE STAR Market and the Self-Regulatory Guidelines No. 1 for SSE STAR Market ? Standardized
Operation and other regulatory requirements. We have improved the Articles of Association optimized the corpo-
rate governance structure and enhanced standardized operation based on the actual situation of the Company.Organizational Structure
Strategic & ESG Committee Shareholders' Meeting
Supervisory Board
Audit Committee
Board of Directors
Nomination Committee
Remuneration & Evaluation
Committee
Senior Management
The Shareholders' Meeting serves as the supreme author- Furthermore we have integrated the concept of sustain-
ity the Board of Directors acts as the decision-making able development into our corporate governance and
body the Supervisory Board functions as the oversight built a four-tier ESG governance structure that includes
entity and the Senior Management executes the opera- the Board of Directors the Strategic & ESG Committee
tions. Each of these four bodies is responsible for its own the Sustainable Development ESG Working Group and
duties and exercises its powers in accordance with laws various departments forming a complete closed-loop
and regulations. from strategic planning to specific execution.WILLFAR INFORMATION
2024 ESG REPORT 12Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Shareholders' Meeting
Willfar Information strictly convenes shareholders' meetings in compliance with applicable laws regulations the Articles
of Association and the Rules of Procedure for Shareholders' Meetings. Standardized voting procedures are implemented
for agenda items accompanied by a well-established voting mechanism specifically designed for minority investors. This
framework ensures all shareholders fully exercise their rights with particular attention given to the will and demands of
minority investors thereby substantively safeguarding their interests.During the reporting period Willfar Information held 4 shareholders'
meetings. In addition to the annual shareholders' meeting the main
agenda items for the extraordinary shareholders' meetings were as follows:
First Employee Share Aimed at fully mobilizing the enthusiasm and creativity of
Ownership Plan employees strengthening the mechanism for the management and shareholders to share responsibilities
and benefits stimulating the management's enthusiasm
and creativity and promoting Willfor Information's
long-term stable development.The Proposal to Alter the Purpose of We wrote off 8.3148 million shares that had been repur-
Repurchased Shares and to Cancel chased to respond to the policy initiatives which
and Reduce the Registered Capital effectively increase earnings per share and enhance shareholders’ return on investment.The Proposal for Willfar Information To meet the needs for capacity expansion and interna-
and the Subsidiaries to Purchase tional development Willfar Information planned to
Assets and Related Party Transactions acquire land and factory buildings from related parties on
the basis of convenience and fair pricing.All the above proposals have been approved (with affiliated shareholders abstaining themselves
from voting on the related party transaction proposals).WILLFAR INFORMATION
2024 ESG REPORT 13Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Structure of Directors Supervisors and Senior Management
Famale
Male
Male 100%
Famale 33.33% 77.78%
22.22%
A total of Famale A total of 3 A total of 2
9 directors supervisors executives66.67%
Board of Directors
including 3 independent Supervisory Board Senior Management
indirectors
Board of Directors
During the reporting period Willfar Informa- Willfar Information has once againbeen selected as a “Best Practicetion held a total of 8 board meetings with an Case” for listed company boards in
attendance rate of 100%. A total of 37 2024 thanks to the outstanding
performance of the Board of
proposals were reviewed and approved. Directors in standardized operations
and innovative development over
the long term.Board Diversity
We have established an international Board of Directors with diversified professional backgrounds and comple-
mentary skill sets. The board consists of 9 directors including 3 independent directors and 2 female directors.Each board member possesses extensive experience in areas such as enterprise management business opera-
tions technical expertise risk & compliance finance and audit & internal control. Considering the company's
need for international development and the characteristics of the Energy IoT industry we not only recruited a
professional independent director candidate from the accounting field but also appointed a scholar from the
field of electrical engineering as an independent director along with a Singaporean economist and financial
expert as an independent director.Role of Independent Directors
Independent directors are the promoters of optimization in corporate governance structure the supervisors of
the corporate standardized operations and the protectors of the interests of minority investors. We have estab-
lished an independent director system actively assisted the Board of Directors in communicating with indepen-
dent directors and equipped independent directors with a specialized workspace to help them complete their
duties. The 3 independent directors are experts and scholars in the fields of finance electrical engineering and
economics. The independent directors review various proposals and offer suggestions from their professional
perspectives thereby enhancing the fairness and scientific nature of decision-making.In addition the Board of Directors has established 4 specialized committees to refine functional responsibilities and
enhance decision-making efficiency. Among these the Audit Committee the Nomination Committee and the Remu-
neration & Evaluation Committee accounted for 2/3 of the independent directors.Supervisory Board
The Supervisory Board consists of 3 supervisors including 2 supervisors nominated by the shareholders and elected
by the Shareholders' Meeting and 1 supervisor representing employees and elected by the employee representative
assembly. The Supervisory Board is independent of the Board of Directors and the management and it oversees the
company’s financial condition internal control systems and the behavior of directors and senior management.WILLFAR INFORMATION
2024 ESG REPORT 14Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
02
Stable and
Compliant Operations
2.1 Compliance and Risk Management
Willfar Information strictly adheres to laws regulations and relevant industry standards. Through the establishment
of sound compliance management system we ensure that all our business operations comply with legal require-ments and prevent legal risks. We uphold compliance as the benchmark and take“ Professionalism DedicationIntegrity and Innovation” as our guiding principles. We continuously refine our internal control system conduct
regular risk identification and promote sustainable coordinated and healthy development.We convey the importance of compliance to our employees through various channels actively cultivate a compliance
culture carry out compliance activities and organize compliance training. All these measures enhances the legal
awareness and ethical standards of our staff creating an atmosphere where everyone values compliance and
adheres to rules in everything they do.Enhancing Compliance Awareness for Sustainable Development
In order to enhance the level of compliance management in 2024 we organized actual controlling
shareholders directors supervisors and senior management to participate in trainings related to laws
and regulations as well as the relevant provisions of the stock exchange.External training: We organized the chairman directors (including independent directors) supervi-
sors and senior management to participate 9 training sessions for listed companies hosted by the SSE
CAPCO and the Hunan Association for Public Companies.Internal training: Specially designed training sessions for controlling shareholders directors super-
visors and senior management. A total of 17 online and offline compliance training sessions were
organized to enhance the management's understanding of policies and regulations and to improve
their ability to perform their duties effectively.Targeting specific areas such as financial training information disclosure tiered training for securities
representatives and corporate bonds and asset securitization business we have arranged for senior
management and heads of various functions to attend training sessions organized by the SSE CAPCO
and the Hunan Association for Public Companies aiming to further enhance their compliance aware-
ness and professional competence.We compiled and interpreted the latest regulatory policies market rules and relevant laws and regula-
tions on a quarterly basis compiling them into a booklet for the company's“ key minority” personnel
which facilitated the“ key minorities” understanding of their responsibilities in information disclosure
reporting of material matters and management of insider information and guided all employees to
establish compliance mindset leading towards sustainable development based on compliance.WILLFAR INFORMATION
2024 ESG REPORT 15Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
The Three Lines of Defense in Compliance Management
Audit & Inspection Department
Third Line of Defense: Conduct independent evaluation and audit of the effective-
Audit & Inspection Department ness appropriateness and adequacy of the compliance
management system
Second Line of Defense:
Compliance Department Compliance Department
Organize compliance risk identification and assessment and
First Line take mitigation actions in a timely manner
of Defense: Business Department
Business
Department Ensure that business activities comply with laws regulations and
internal policies and follow professional ethics
Willfar Information strictly conducts compliance management in accordance with the Company Law of the People's
Republic of China the Listing Rules of the SSE STAR Market the Basic Standards for Enterprise Internal Control and
supporting guidelines as well as other relevant laws and regulations. Our practices are structured through a dual
assurance mechanism. For internal oversight we fully leverage internal audit functions to ensure effective imple-
mentation of internal control systems while strengthening the identification and assessment of compliance risks; for
external verification we regularly engage independent auditing firms to conduct special audits evaluating the estab-
lishment and execution of our internal control framework. Furthermore the Audit Committee under the Board of
Directors exercises rigorous supervision over both internal and external audit processes thereby safeguarding the
legitimate rights and interests of the Company and all shareholders.
2.2 Paying Taxes in Accordance with the Law
Willfar Information adheres to the tax management objectives of compliance legality and integrity in its operations.We strictly comply with tax laws and regulations and earnestly fulfill our tax obligations as a corporate citizen. We
actively communicate with tax authorities conduct cross-border tax consultations reduce cross-border tax risks
and enhance our competitiveness in the international market.Total tax paid in 2024: 220 million yuan
Cumulative tax paid since listing: 850 million yuan
Rated as an A-level tax credit enterprise for 19 consecutive years
Top 100 Private Enterprises in Hunan Province in Tax Contribution
for 2023
Top 100 High-Tech Enterprises in Hunan Province in Tax Contribu-
tion for 2023
Top 50“ Specialized Refined Unique and Innovative” Small and
Medium-Sized Enterprises in Hunan Province in Tax Contribution
for 2023
Top 100 Taxpaying Enterprises in Xiangjiang New Area Hunan
Province in 2023
WILLFAR INFORMATION
2024 ESG REPORT 16Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Cross-Border Taxation Salon for "Go Global" Enterprises
The first Cross-Border Taxation Salon for "Go
Global" Enterprises was held at the Willfar Technol-
ogy Park which was hosted by Hunan Tax Bureau of
State Administration of Taxation and Hunan Xiangji-
ang New District Tax Bureau and organized by
Willfar Information.During the event experts and enterprise represen-
tatives engaged in in-depth dialogue and interac-
tions through special lectures experience sharing
and roundtable discussions. Participants focused
on topics such as common tax-related risk preven-
tion and control for “Go Global” enterprises
international tax management and collectively
explored issues related to cross-border taxation.
2.3 Adhering to Business Ethics
Fair Competition Integrity Building
Willfar Information strictly complies with the Anti-Mo- Willfar Information regards integrity building as the our
nopoly Law of the People's Republic of China the lifeline. We strictly prohibit any form of bribery and
Anti-Unfair Competition Law of the People's Republic corrupt practices. Through the establishment of a sound
of China and the regulations in overseas jurisdictions. system of regulations strengthening of supervisory
We adhere to market competition rules advocate a mechanisms and enhancement of employee education
business environment that promotes fair competition and cultural development we strive to ensure that all
and oppose all forms of unfair competition. business activities are conducted in accordance with the
principles of honesty and transparency.We have formulated the Employee Handbook and
other internal policies to guide and regulate the behav-
ior of our employees in accordance with laws and
regulations related to anti-corruption and anti-fraud
and have carried out integrity education. In 2024 all
employees signed the Letter of Integrity and Self-Disci-
pline Commitment and there were no corruption
lawsuits involving the Company or the employees.WILLFAR INFORMATION
2024 ESG REPORT 17Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Ten Prohibitions
1 It is prohibited to bribe or ask for bribe to or from customers cooperative partners or government officials in the name of informa-
tion fee consultancy fee rebate or commission.
2 It is prohibited to accept any funds or material objects against the regulation by using the advantage of one’s position from the
suppliers and any cooperative partners not even asking for bribery.
3 It is prohibited to bribe or ask for bribery or accept bribery with any excuse or in any form within the company.
4 It is prohibited to provide fraud commercial information in any titles or forms and to make any over-commitment.
5 It is prohibited to use information provided by the company to take advantage or cheat customers cooperative partners superiors
and subordinates.
6 It is prohibited to illegally steal use or leak the commercial secrets of the company.
7 It is prohibited to infringe the intellectual property of the company or any third party such as copyrights trademarks or patents. It is
not allowed to use computer software which is not legally authorized.It is prohibited to use the company’s property information or authority to engage into any commercial investment or seek any
8 illegal profit for himself/herself or his/her relatives.
9 It is prohibited to hold directly or indirectly any share do part-time job or enter into any economic cooperation in same or similar
companies in the industry during his/her employment or competition period without the permission of the company.
10 It is prohibited to be engaged in any form of discrimination and sexual harassment.
Whistleblower Management
To maintain a healthy corporate environment we have
established the Employee Complaint and Whistleblow-
er Management Measures. Employees and partners Email：hr@willfar.com
who are aware of any suspected cases of corruption
bribery fraud or other misconduct can report anony- Phone：0731-88619542
mously or in real name through the following ways. We
will strictly protect the privacy and safety of the
whistleblowers.WILLFAR INFORMATION
2024 ESG REPORT 18Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
03
Commitment to High-Quality
Information Disclosure
3.1 Enhancing the Standardization of Information Disclosure
Willfar Information has formulated the Information Disclosure
Management Measures in strict accordance with the Company
Law of the People's Republic of China the Securities Law of
the People's Republic of China the Administration Measures
Awarded the highest A-level by
of Information Disclosure for Listed Companies and the Listing
the SSE for 2 consecutive years
Rules of SSE STAR Market etc. to regulate the information
for information disclosure since
disclosure behaviors and protect the legitimate rights and
the STAR Market initiated its
interests of the investors and other stakeholders.information disclosure evalua-We adhere to the principles o“f truthfulness accuracy complete- tion in 2023ness timeliness and fairness” ensuring that the disclosed Awarded Best Practice of the
information truly reflects the situation and eliminating any false Board Office by the CAPCO.records or misleading statements. We also disclose significant
events in a timely manner within the prescribed period and Awarded the China Securities
moderately release regular reports ahead of schedule Journal Golden Bull Award ?
allowing all investors to access information on an equal basis. Golden Information Disclosure
Meanwhile we actively organize professional training for Award..directors supervisors and senior management to enhance
the compliance capabilities of key personnel.In 2024 we organized 26 training sessions to controlling shareholders
directors supervisors and senior management mainly including:
Internal training: Specially designed training sessions for controlling shareholders directors supervisors and
senior management.External training: Facilitated the participation of directors supervisors and senior management in external training
organized by institutions such as the SSE CAPCO and the Hunan Association for Public Companies.Targeting specific areas such as financial training information disclosure tiered training for securities representa-
tives and corporate bonds and asset securitization business we have arranged for senior management and heads of
various functions to attend training sessions organized by the SSE CAPCO and the Hunan Association for Public
Companies aiming to further enhance their compliance awareness and professional competence.We have established the Insider Information Registrant Management Measures to regulate the management of insider information
enhance the confidentiality of insider information and maintain the principle of fairness in information disclosure.WILLFAR INFORMATION
2024 ESG REPORT 19Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
3.2 Improving the Effectiveness of Information Disclosure
Willfar Information actively promote voluntary informa- We are committed to driving diversified innovations in the
tion disclosure and release information relevant to inves- forms of information disclosure. We focus on ensuring
tors' value judgments and decision-making in a timely clear and concise content presentation with easy-to-un-
manner. By integrating industry regulations and market derstand language while employing multimedia formats
trends we proactively disclose operational information such as graphics texts and videos. This multi-dimension-
to help investors better understand our business. al approach aims to enable investors to gain comprehen-
sive insights into corporate operations and effectively
reduce market information barriers.A total of 68 announcements were issued
throughout 2024 including 14 voluntary
announcements specifically:
2 announcements related to“ Quality Improvement Efficiency Enhancementand Returns Importance”
1 ESG report
11 bid-winning announcements
Innovative Multi-Channel Disclosure to Build a Bridge of Trust
We released “one chart to understand” to provide a visual interpretation of our
periodic reports. We published annual report interpretation videos to help investors
Visualization better understand our operating results financial condition and development
strategies.Avoided overly technical terms and employ straightforward language to make the
Easy-to-U
nderstand announcements easier for investors to understand.In February 2024 in response to the initiative of the SSE Willfar Information releasedthe first bilingual (Chinese and English) action plans for“Quality ImprovementEfficiency Enhancement and Returns Importance”. In April 2024 we issued bilingual
International-
ization (Chinese and English) ESG report of 2023. Concurrently we actively collaborated with
analysts with overseas influence to issue English research reports aiming to enhance
their understanding of our business operations and market potentials.WILLFAR INFORMATION
2024 ESG REPORT 20透明治理 创新驱动 数字赋能 责任为本
规范运作智启未来绿色增效担当于行
04
Valuing Investor
Relations Management
4.1 Optimizing Investor Relations
Willfar Information has long attached great importance to investor relations management. We have established diver-
sified and efficient communication channels to ensure the timely dissemination of corporate information. Additional-
ly as investors' awareness and attention to public opinion have increased we have formulated the Public Opinions
Management Measures which enables us to continuously monitor and address market opinions maintain open
communication channels across all platforms minimize misinterpretations and misjudgments and effectively
protect the legitimate rights and interests of investors.Willfar Information fully utilizes platforms for
minority investors communication such as
the SSE e-Interactive Platform Comein
Finance and other investor communication
platforms to collect valuable suggestions
and feedbacks from investors to the
management for discussion. Multi-Platform
We held annual online performance briefings Investor Communication
for periodic reports where the Chairman
and President lead the senior management
team to communicate with investors.We held 2023 performance briefing through
the SSE Roadshow Center with live broad-
casts on multiple platforms including Willfar Information’s official WeChat
Comein Finance WIND Yidong East Money account added the "Investors Interac-
and HTSZ (Huatai Securities' platform). Multi-Channel Multi-Platform tion" section which connects to the
and Multi-Method
Interaction to Enhance our IR (Investor Relations) mini-pro-
Investor Communication gram providing timely convenient
and diversified communication
channels to enhance two-way
communication.Specialized Digital Platform
Communication Construction
Events
We successfully held the 25th World Metrology Day Exchange Meeting and Investor Communication Meeting
inviting experts and management to discuss industry trends and technological innovations.We participated in the high-quality development research and survey activity jointly organized by the Shanghai
Securities News and BOSERA Funds and were highly praised.We actively participated in the 2024 Hunan Jurisdiction Listed Companies' Collective Investor Reception Day and
also took part in the "Shareholder Comes" initiative which aims to enhance investor education and rights protec-
tion. Additionally we organized company visits for minority investors.We successfully held the annual Innovation Summit and Investor Research Conference and communicated efficient-
ly with the participating investors on energy green and low-carbon transformation and our future development
plan conveying to investors our firm commitment to high-quality development.Under the guidance of Hunan Securities Regulatory Bureau and Hunan Fund Industry Association an on-site
"face-to-face" investor exchange activity was held at Willfar Information. Notably this event marked the first
instance in Hunan Province where an audit institution jointly hosted and engaged in direct dialogue with investors
as a co-organizer.WILLFAR INFORMATION
2024 ESG REPORT 21We successfully held the 25th World Metrology Day Exchange Meeting and Investor Communication Meeting
inviting experts and management to discuss industry trends and technological innovations.We participated in the high-quality development research and survey activity jointly organized by the Shanghai
Securities News and BOSERA Funds and were highly praised.We actively participated in the 2024 Hunan Jurisdiction Listed Companies' Collective Investor Reception Day and
also took part in the "Shareholder Comes" initiative which aims to enhance investor education and rights protec-
tion. Additionally we organized company visits for minority investors.We successfully held the annual Innovation Summit and Investor Research Conference and communicated efficient-
ly with the participating investors on energy green and low-carbon transformation and our future development
plan conveying to investors our firm commitment to high-quality development.Under the guidance of Hunan Securities Regulatory Bureau and Hunan Fund Industry Association an on-site
"face-to-face" investor exchange activity was held at Willfar Information. Notably this event marked the first
instance in Hunan Province where an audit institution jointly hosted and engaged in direct dialogue with investors
as a co-organizer.Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Digital Display of Investor Relations
Maintained close communica-
Participated in over 360 online tion with investors with a
and offline research and total of 40 securities confer-
communication activities. ences that attracted 471 investment institutions and
830 professionals to attend.
284 Replied to 8 questions from Answered investor the SSE e-Interactive Platform
calls within 2 working days.Data Period: January 1 2024 to December 31 2024
010203
01 High-Quality Development Research and SurveyInitiative:“ Sci-Tech Innovation China — SSESTAR Market 100 Index”
02“Face-to-Face” Communication Activities
with Investors
03 Annual New Product Launch and Investor
Communication Conference
04 Annual Innovation Summit and Investor
04 Research Conference
We actively communicate with sell-side analysts leveraging their professional insights to help investors better
understand Willfar Information. During the reporting period a total of 18 institutions issued 57 research reports
including 2 in-depth analysis reports. Among these reports 24 gave a“ Buy” rating and 14 gave a“ Outperform”
rating. Through the“ sell-side voice” we actively convey our value to investors.Based on our philosophy of“ Perfect work with passion and success achieved with integrity” we adhere the princi-
ple of integrity and innovation continuously improve the quality of information disclosure and strengthen investor
protection.WILLFAR INFORMATION
2024 ESG REPORT 22Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
4.2 Enhancing the Internationalization of Investor Relations
Willfar Information strengthens domestic investor relations management and implements the "Go Global" strat-
egy actively expanding the international vision strengthening the interaction and communication with overseas
investment institutions connecting with global investors and enhancing the “internationalization” level of
investor relations
Building Bridges of International Communication
Through face-to-face communication with overseas investors we share our vision and strategic plans build
positive market expectations and enhance international influence and investor awareness. In 2024 we participat-
ed in overseas investor research and communication meetings organized by institutions such as the CAPCO
Macquarie Securities Jefferies Securities and UBS Securities etc.Expanding International Research Collaboration
We took the initiative to connect with sell-side analysts with overseas influence and issued English research reports
to provide overseas investors with in-depth insights and enhance their understanding of our business and market
potential. Also we actively expanded cooperation with overseas sell-side institutions to extend the scope of global
research coverage and enhance Willfar Information’s credibility in the international capital market.Internationalization of Shareholder Structure
With the introduction of the Shanghai-Hong Kong Stock Connect mechanism we have attracted more diversified
international capital. As of the end of 2024 the number of shareholders investing in Willfar Information through the
Shanghai-Hong Kong Stock Connect has increased by 106% compared to the beginning of the year indicating
investor relations are becoming increasingly“internationalized”.WILLFAR INFORMATION
2024 ESG REPORT 23Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
4.3 Focusing on Investor Returns
Based on the Willfar Information’s development stage In addition we proactively comply with regulatory require-
industry characteristics profitability and major capital ments and intensify market value management efforts by
expenditure plans the Company strictly formulates dividend establishing the Market Value Management Measures. These
policies in compliance with the Articles of Association and measures are designed to enhance Willfar Information’s
relevant laws and regulations. We implement dividend investment value and return-generating capacity for
distribution programs to deliver long-term stable invest- investors ensure alignment between corporate value and
ment returns for investors while continuously enhancing intrinsic quality and ultimately reinforce market confidence
investors' perceived returns and fostering a sustainable in sustainable value creation.sense of value appreciation.On May 9 2024 Willfar Information completed the dividend distribution
and interest payment for the year 2023.Dividend Distribution per Share Year-on-Year Growth Rate Total Cash Dividend Distribution
0.43 Yuan 30% 211 Million Yuan
In FY2024 we intend to pay a cash dividend of 5.2Yuan per 10 shares with a
dividend payout ratio of 40% providing stable returns to shareholders.
5.20Yuan
4.30Yuan
3.30Yuan
2.60Yuan
2.25Yuan
1.75Yuan
201920202021202220232024
Dividend Dividend Dividend Dividend Dividend Intended dividend
Share Repurchase and Cancellation to Enhance Shareholder Returns
In July 2024 in proactive compliance with the New National Nine Guidelines' call for listed companies to cancel
repurchased shares Willfar Information revised the designated use of 8.31 million shares held in the special repurchase
account. The purpose was changed from “reserved for employee stock ownership plans or equity incentives” to “cancellation with corresponding registered capital reduction." The share cancellation procedures were duly completed in
September 2024 effectively enhancing earnings per share and strengthening shareholder return on investment.According to the requirements of the Listing Rules of SSE STAR Market which stipulates that “cash consideration paidfor share repurchases via centralized bidding followed by cancellation shall be included in cash dividend calculations"
the RMB 200 million share cancellation (calculated at average repurchase price) elevates total cash distributions and
share repurchase to RMB 900 million. This significantly exceeds the RMB 610 million net IPO proceeds unequivocally
demonstrating our execution capability in delivering shareholder returns.WILLFAR INFORMATION
2024 ESG REPORT 24
Cash dividends per 10 sharesTransparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
02
Innovation-Driven
and Intelligent Future
Innovation serves as the driving force behind corporate 1. Building Excellence in Quality
development. Leveraging its self-developed R&D capabilities
high-caliber manufacturing strength advanced quality 1.1 Quality Management System
assurance systems and superior product quality Willfar 1.2 Improving Product Quality
Information delivers intelligent and efficient digital energy 1.3 Fostering Quality Culture
solutions. We not only focus on independent R&D but also
actively foster cross-sector collaboration converging strengths 2. Innovation Leads the Future
from diverse stakeholders to infuse robust momentum into the 2.1 Engaging in R&D Innovation
advancement of new quality productive forces. 2.2 Intellectual Property Management
2.3 Promoting Integration of
Production-Education-Research Collaboration
3. Promoting Industry Collaboration
3.1 Developing Industry Standards
3.2 Honored with International Certification
WILLFAR INFORMATION
2024 ESG REPORT 25Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
01
Building Excellence
in Quality
1.1 Quality Management System
Based on the quality philosophy that "quality is the life We have developed the Willfar Information Manage-
of the enterprise and the dignity of every employee" ment Manual which outlines the requirements
Willfar Information has pioneered a systematic responsibilities procedures and methods for estab-
approach to continuous innovation and quality lishing maintaining and continuously improving the
advancement. The Company has implemented a prod- corporate quality management system.uct lifecycle quality management system with R&D
quality management at the core material quality
control and automated production quality assurance
as the foundation and supported by a robust product
testing and inspection system responsive after-sales
services and an end-to-end digital quality manage-
ment platform.Information Quality Management System
Top Management 6 Major Enterprise
Accountability Information SystemsWe strictly adhere to the principle of “top PDM Product Data Management Systemmanagement accountability” and“ full partici- ERP (SAP) Enterprise Resource Planning Systempation of all employees”. MES Manufacturing Execution System
SRM Supplier Relationship Management System
19 Major Management CRM Customer Relationship Management System
Systems WMS Intelligent Warehouse Management System
ISO9001 Quality Management System ISO14001
Environmental Management System ISO45001 Policy Documents
Occupational Health and Safety Management
System etc. 461 System Documents and Guidance Documents
WILLFAR INFORMATION
2024 ESG REPORT 26Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
格式/Form：A040101(03/21)饿呢两化融合管理体系评定证书
INTEGRATION OF INFORMATIZATION AND INDUSTRIALIZATION MANAGEMENT SYSTEM CERTIFICATE
证书编号/ No. AIITRE -00224IIIMS0789903
AAA兹证明威胜信息技术股份有限公司
与 AAA 级新型能力对应等级的两化融合管理体系符合
GB/T 23001-2017《信息化和工业化融合管理体系 要求》及 GB/T 23006-2022《信息化和工业化融合管理体系新型能力分级要求》
本证书对下述评定范围有效：
位于湖南省长沙市岳麓区国家高新技术产业开发区桐梓坡西路468号的威胜信息技术股份有限公司，与价值创造的过程、载体、合作伙伴有关的 AAA 级能源计量终端数字化生产管控能力建设相关的两化融合管理活动。
发证日期：2024年5月8日
有效期至：2027年5月7日
评定机构：中国船级社质量认证有限公司
授权代表（签字）
IIIMS
本证书根据中国船级社质量认证有限公司有关程序签发，每一页证书（含附件）均须有本公司盖章方可生效。当本证书包括证书附件时，则附件必须与主证书同时使用。任何单位或个人均不应摘录或节选本证书的内容。有关各方对所持证书的真实性有疑问时，可向我公司咨询。本证书的最新状态可在两化融合管理体系评定管理平台www.dlttx.com/gltx查询。
中国船级社质量认证有限公司 北京市东城区东黄城根南街 40号楼 100006 电话：+86(10)56313400 网址：www.ccs-c.com.cn
第 1 页 共 1 页/ Page 1 of 1
On the path of continuous innovation and capacity building for quality assurance the company explores and practicescreating the WQM (Willfar Quantity Management) digital quality management platform based on the concept of“ OneCore Two Wings and Three Integrations.” Through the implementation of WQM Willfar Information has achieved trans-
formative breakthroughs in quality management capacities and service excellence driving holistic improvements in
operational performance customer satisfaction and brand reputation.Digital Quality
Management Platform One Core
The core refers to a
WQM comprehensive quality
management philosophy
and IPD research and
development system
architecture
An operational
production quality A supplier quality
management Two management
platform built on Wings platform based on
CRM+ERP+MES SRM
Three
Integration of quality Integrations
management throughout Integration of problems
the lifecycle processes Integration of tracing and closed-loop
from demands to decision-making management
acceptance processes and
operational data
WILLFAR INFORMATION
2024 ESG REPORT 27Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
1.2 Improving Product Quality
Willfar Information has implemented a series of initiatives to improve the reliability and market competitiveness of our
products thereby providing our customers with higher-quality products and better service experience.Quality Improvement Measures
Developing Product Consistency Control System
Provide real-time alerts for data fluctuations during the production processes respond and handle the issues
promptly to ensure the consistency and stability of products quality.Establishing Production Review Processes
Set up processes cover key stages such as customer demands R&D design prototype small-batch testing
large-scale production and factory inspection etc. to evaluate the achievement status of each stage and
ensure all products meet customer’s requirements.Implementing Routine Inspection Mechanism for Production Process
Inspect the production process regularly to promptly identify and resolve issues that arise during the
production process ensuring the standardization of production processes and the continuous compliance
of product quality.The sampling inspection cover-
In terms of quality sampling inspection we conduct sampling inspec- age for materials and finished
tions for internal materials and finished products in accordance with the products was
Counting Sampling Inspection Procedure. We have also established 100%
management documents such as the Incoming Material Inspection
Management Measures and the Finished Product Inspection Manage- In 2024 the pass rate of custom-
ment Measures which specify the inspection processes execution er unpacking inspection reached
standards and related responsibilities for product inspections. 99.99%
Quality Honors
National Product and Service Quality National Quality Inspection Trustworthy Winmeter Energy CMMI5 Certificate Willfar Information
Integrity Enterprise Products CMMI5 Certificate
WILLFAR INFORMATION
2024 ESG REPORT 28Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
1.3 Fostering Quality Culture
Willfar Information has taken a series of measures to promote the formation and development of quality culture. We have
carried out quality-related activities organized quality knowledge competitions and promoted our quality philosophy
and policies to inspire quality awareness of all employees.In August 2024 the two-year Lean Quality Coaching Project was successfully completed. The project intro-
duced Lean management concepts new process technologies and methods improved on-site manage-
ment optimized work standards and standardized general process requirements and DFM standards. A
total of 102 improvements were completed significantly enhancing product quality and production efficien-
cy. The ongoing 32 improvement measures will further enhance quality benefits and drive the company's
high-quality development.Through systematic quality training activities we have In 2024 Willfar Information conducted 82 training
enhanced the quality awareness of all employees and sessions including quality awareness education quality
deepened their understanding of quality standards capability improvement and professional skills training.quality management processes products standards and
quality control during the production processes.WILLFAR INFORMATION
2024 ESG REPORT 29Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
02
Innovation
Leads the Future
2.1 Engaging in R&D Innovation
Currently the energy landscape is undergoing profound
transformation with policy directives and market demand
charting the course for development. The Central Economic
Work Conference emphasized the vigorous cultivation of The annual R&D investment was 241 million yuan
new quality productive forces and the deep integration of the representing a Year-on-Year increase of 5.95%
digital economy with the real economy. Meanwhile the
national guidelines on data infrastructure construction have R&D Personnel: 441 individuals representing
outlined a clear pathway for industrial advancement. These 51.34% of the total workforce.priorities resonate strongly with Willfar Information’s vision
of“ IoT + Semiconductors + Artificial Intelligence.” In 2024 Among them 184 individuals hold a master'sguided by the strategic principle of“ Connecting the World degree or higher.with IoT Connecting the Future with Core Technologies” we
remain steadfast in our innovation-driven focus on techno- In 2024 there were nearly 50 innovative products
logical frontiers national strategic imperatives and key and solutions launched.economic sectors. We are committed to advancing toward
our goal of becoming a global leader in intelligent and digital
integrated solutions for energy transformation.New Patents in 2024 Cumulative Total
1%
1%10%
20%
17%15
12%
55% 15 scientific papers were
5% 18% published in 2024
62%
35 Invention Patents 184 Invention Patents
21 Utility Model Patents 307 Utility Model Patents
10 Design Patents 235 Design Patents
110 Software Copyrights 1008 Software Copyrights
2 Others 8 Others
Willfar Information regards innovation as the core driving force for corporate development having consistently intensified R&D
investments and accelerated the commercialization of technological breakthroughs. To cultivate a high-caliber research
workforce we have established multiple provincial-level innovation platforms including an Academician Expert Workstation
Postdoctoral Research Station Engineering Technology Research Center and Hunan Provincial Key Laboratory. Furthermore we
have established the Willfar Information Research Institute， which houses specialized laboratories for wide-bandgap semicon-ductors artificial intelligence and smart sensing technologies forming an integrated technical support system for R&D.WILLFAR INFORMATION
2024 ESG REPORT 30Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
We formulated our medium- and long-term R&D strategic plans for technology and products based on industry trends andcustomer needs. We carry out R&D relying on the mode that“ primarily focus on independent R&D supplemented by collabora-tive R&D and supported by innovation platforms.”
R&D Honors
Willfar Information has consecutively won the First Prize of
Hunan Province Science and Technology Progress Award
multiple times and has been honored with the First Prize of
Science and Technology Progress by the China Electrotech-
nical Society the Second Prize of Hunan Invention Patent
Award and the Science and Technology Progress First Prize
by State Grid Corporation of China. In addition Willfar
Information has been recognized as a national-level special-
ized refined unique and innovative enterprise a national
intellectual property advantage enterprise one of the top 50
Chinese listed companies with new quality productivity and
a key software enterprise in Hunan Province for 2024.Strengthening technological leadership creating benchmark products and maintaining industry leadership are the corner-
stones of Willfar Information’s stable and sustainable development. We closely follow the development trends of industry
technologies and conduct pioneering research in dominant areas focusing on breakthroughs in core IoT technologies.During our cooperation with customers we maintain synchronized communication with their technical departments deeply
understand their needs and quickly respond to market changes which enables us to develop innovative products that are
both aligned with customer needs and in line with industry trends.The Excellent“ China Chip”- the WTZ30 Chip was Awarded the
“Excellent Market Performance Product” Award
The “China Chip” Excellent Product Collection Activity is
one of the most influential and authoritative industryevents in China's integrated circuit (IC) field. The “ChinaChip” Excellent Product Selection is regarded as a key
indicator of IC product and technology development and
recognizes the achievements of product innovation
technology innovation and application innovation in the
domestic IC field.The WTZ30 High-Speed Power Line Carrier and wireless
dual-mode communication chip from Zhuhai Zhonghui asubsidiary of Willfar Information was awarded the “Excel-lent Market Performance Product” award.WILLFAR INFORMATION
2024 ESG REPORT 31Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Contribute to the Internationalization Process
of the IEEE 1901.3 Standard
In October 2024 the 5th working group meeting of the IEEE 1901.3 standard was successfully held in Milan Italy.Technical experts from global research institutions power supply and consumption enterprises and working
group members attended the meeting. This standard integrates High-Speed Power Line Carrier (HPLC) and
High-Speed Radio Frequency (HRF) technologies and is another international standard led by the China Electric
Power Research Institute (CEPRI) following IEEE 1901.1
Willfar Information proposed a testing standard for “data link layer time slot management” and spoke at the
meeting. The proposal was unanimously approved by the experts in the working group and has been incorporated
into the draft standard which marks a significant progress that Willfar Information promoted the internationaliza-
tion of the IEEE 1901.3 standard and the globalization of dual-mode product solutions.The fifth meeting of the IEEE1901.3 International Standard for
Dual-Mode Communications was successfully held in Milan Italy.
2.2 Intellectual Property Management
Willfar Information places great emphasis on intellectu- Willfar Information has also established a multi-layered
al property rights (IPR) protection and strictly complies protection framework defining employee confidentiali-
with relevant laws and regulations including the ty obligations non-compete clauses incentive/disci-
Patent Law of the People's Republic of China the Copy- plinary mechanisms and document control protocols.right Law of the People's Republic of China the Trade- All staff members are required to execute legally
mark Law of the People's Republic of China and the binding Non-Disclosure Agreements that institutional-
Hunan Province Patent Regulations. To protect our ize safeguards against IP leakage and attrition. This
innovative achievements and strengthen the IPR systematic approach is complemented by customized
management we have established a series of internal IP protection training programs designed to elevate
polices such as the Intellectual Property Management organizational awareness of IPR protection.Measures the Trademark Management Measures and
the Intellectual Property Archives Management We actively advocate for IPR protection within the
Measures. These measures aim to standardize and industry and are dedicated to developing self-regula-
enhance our practices in the application maintenance tion standards for IPR. We respect the IPR of other
utilization protection and overall management of companies proactively avoid IPR disputes and have
intellectual property rights. not faced any IPR litigation or arbitration during the reporting period.Intellectual Property Training
Willfar Information prioritizes enhancing employees' professional competencies in IPR protection and strate-
gic utilization. To this end we conducted specialized training programs covering patent mining techniques
principles and processes. Through case-based learning methodologies and best practice simulations we
empower employees to internalize knowledge and implement innovative IP management solutions in
real-world scenarios.WILLFAR INFORMATION
2024 ESG REPORT 32Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
2.3 Promoting Integration of Production-Education-ResearchCollaboration
Willfar Information proactively fosters deep integration of Production-Education-Research collaboration aggregat-
ing premium intellectual resources and enabling shared access to cutting-edge research infrastructure. By channeling
multidisciplinary innovation elements into corporate development we have built an open innovation ecosystem
through strategic partnerships with leading universities and national-level advanced research institutions. These
collaborations not only infuse superior external expertise and technological capabilities but also jointly accelerate
frontier technology exploration and commercialization of research outcomes.In October 2024 Willfar Information was recognized as the “Excellent Academician and Expert Workstation in HunanProvince”. We have engaged in in-depth collaboration with teams of academicians and experts to guide the key
directions of national scientific and technological innovation and research and development. Our efforts are centered
on the construction of new power and energy systems actively promoting the commercialization and industrializa-
tion of scientific and technological achievements aiming to empower the development of new quality productivity.Joining with National Energy Research Institutions Together
to Build New Quality Productivity in the Energy Sector Together
Willfar Information has formed a joint task force with a national energy research institution's new power
systems center focusing on digitalized power distribution scenarios to co-develop AI-advanced SOC chips
and smart grid equipment. Through technology-industrialization convergence both parties aim to strength-
en core competencies in hardware-software integration propel the digital and intelligent transformation of
power infrastructure and accelerate the evolution of Energy IoT.Constructing the Cloud-Edge Collaborative Early Warning System to
Create the Urban Electricity Safety Protection System
Willfar Information is a key participant in the National Major Science and Technology Project on Smart Grids
? “Chip-level Security Sensing and Early Warning Technologies for Urban Power Systems”. Focusing on
urban electricity safety scenarios we have developed a proprietary low-power high-performance security
chip that serves as the core sensing unit in smart devices enabling real-time monitoring across massive
urban power endpoints. Building upon this innovation we have created cloud-edge-device collaborative
early warning system that ensures operational safety of low-voltage grids and mitigates electricity-related
public risks through intelligent data convergence and predictive analytics.
1 Set of Security theory 1 Secure Dedicated Chip
Four Ones
1 Low-cost Intelligent
1 City-level Monitoring Platform Monitoring Device
WILLFAR INFORMATION
2024 ESG REPORT 33Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
In collaboration with Tsinghua University Willfar Informa-
Co-Researching New Distribu- tion has jointly pioneered theoretical research on protec-
tion Protection to Improve tion mechanisms for new-type power systems targeting
Power Supply Reliability critical needs in enhancing power supply reliability. Both parties have industrialized channel-free protection
technology within distribution automation systems imple-
menting core algorithms into distribution automation
terminals. Furthermore the collaboration has advanced
theoretical frameworks for grounding fault analysis in new
distribution networks developing breakthrough solutions
including weak fault identification precise fault localiza-
tion and intelligent early-warning algorithms. These
proprietary algorithms have been successfully embedded
in distribution terminals and fault location devices
effectively resolving industry-wide challenges of low
diagnostic accuracy and insufficient sensitivity ultimately
yielding competitive smart grid solutions.Using High-Performance Com-
puting as Engine Development Willfar Information collaborated with the National Super-
of Technological Innovation to computing Changsha Center provided strong computing
Drive Technological Innovation. power supporting and algorithm research capabilities in
terms of high-performance computing big data process-
ing information security and artificial intelligence helping
to efficiently handle with massive amounts of data. This
cooperation would promote the widespread application of
cutting-edge technologies such as intelligent scheduling
and digital twins in the power grid and smart cities.Optimizing Resource and Willfar Information launched the cooperation with the
Energy Allocation to Protect Chinese Society for Urban Studies to enhance the intelli-gence level of urban fire protection water resource
Urban Safety Intelligently management systems as well as to promote the develop-
ment of green buildings. Leveraging digital twin and
artificial intelligence technologies both parties aimed to
achieve real-time monitoring and early warning of urban
safety risks precise allocation of water resources and
optimized management of building energy consumption.This collaboration is expected to significantly promote the
intelligent urban management and services contributing
to the construction of safe green and efficient smart cities.威胜信息WIL2L0FA2R4 INEFSOGRM报AT告ION
WILLFAR INFORMATIO2N0 2042 4E ESSGG REPPOORTRT 3134Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
03
Promoting
Industry Collaboration
3.1 Developing Industry Participated in the formulation Standards and revision of a total of 87 standards
including 1 international standard 40 national
Willfar Information participates in the formulation of standards 11 industry standards 6 local standards
industry standards contributing our technical expertise and 29 group standards.and practical experience. We also share our professional
insights and forward-looking ideas to promote the Participated in the formulation
standardization and normalization of the entire industry. and revision of 22 standards in 2024
including 1 international standard 4 national
standards 5 local standardsand 12 group
standards.
3.2 Honored with International Certification
Certifications for Grid and Communication
Product Form Communication Communication EU Radio Safety Communication
Certification Protocol Compliance Interoperability Certification Interoperability
Certification Certification Certification
Certifications for Ultrasonic Smart Water Meter
International Organization EU Metrology UK Drinking Water EU Radio Safety Communication
of Legal Metrology Certification Safety Certification Certification Interoperability Certification
Certification
Other League of
Nations Certifications
WILLFAR INFORMATION
2024 ESG REPORT 35Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
03
Digital Empowerment
and Green Efficiency
1.2.
In terms of internal management Willfar Information actively 1.Practicing Sustainable Operations
promotes green operational strategies integrating environmental 1.1 Energy Conservation and Carbon Reduction
protection concepts into our daily management and striving to 1.2 Water Resource Management
build a national-level green factory. In terms of external coopera- 1.3 Emission Management
tion we empower green initiatives with digitalization providing 1.4 Addressing Climate Change
green technology support and services to our upstream and
downstream industrial chains jointly exploring new models of the
energy internet and constructing a more efficient and sustainable 2. Accelerating the Modernization Transformation of the Energy System
industrial ecosystem.
2.1 Supporting the Construction of New Power System
2.2 Contributing to the Construction of Global
New Energy System
WILLFAR INFORMATION
2024 ESG REPORT 36Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
01
Practicing
Sustainable Operations
Willfar Information strictly complies with environmental
protection laws and regulations such as the Environmental
Protection Law of the People's Republic of China the Water
Pollution Prevention and Control Law of the People's Repub-
lic of China the Air Pollution Prevention and Control Law of
the People's Republic of China the Environmental Noise
Pollution Prevention and Control Law of the People's Repub-
lic of China and the Solid Waste Pollution Prevention and
Control Law of the People's Republic of China. We actively
combine reducing our“ carbon footprint” with enhancing our
“carbon handprint”. Through intelligent manufacturing we
promote green production and strive to build a national-level
green factory.
1.1 Energy Conservation and Carbon Reduction
Willfar Information has formulated management measures such as the Energy Conservation and Consumption Reduction
Management Measures and the Operation Management Measures for Energy-saving Devices firmly committing to the path of
green development. We focus on breakthroughs in energy conservation emission reduction and intelligent manufacturing
technologies during the manufacturing process and integrate green concepts into the product design stage.Investment in environmental protection
286900 yuan
Total GHG Emissions (Scope 1 + Scope 2)
3063.83 tons of CO2 equivalent
Year-over-Year Decrease15.25%
GHG Emissions Intensity (Scope 1 + Scope 2)
0.01tons of CO2 equivalent per 10000 yuan of revenue
Total electricity consumption
5896734.16KWh
Photovoltaic power generation:
906099.33 Carbon neutrality managementKWh system certification
WILLFAR INFORMATION
2024 ESG REPORT 37宣传推广：开展节能减排宣传教育，倡导绿色出行
:
技术应用：在产品设计和材料选择上，优先选用环保型材料和技术Technology Application: Prioritize the use of environmentally friendly
materials and technologies in product design and material selection.设备升级：淘汰高能耗工艺装备，引入新型节能设备，如实施车间照明系统升级；推动智能制造自动化生产，全面提升能源使用效率: Phase out high-energy-consuming process equipment introduce new
energy-saving equipment such as upgrading the workshop lighting
system; promote smart manufacturing and automated production to
comprehensively improve energy efficiency.能源监控：搭建能源管控平台，实现对各部门能耗的实时监测与分析，助力能耗控制和节能减排目标的达成
:
Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Energy Conservation and Emission Reduction Strategy
Promotion and Publicity：Carry out publicity and education on energy conservation and emission reduction and
advocate for green travel.Technology Application：Prioritize the use of environmentally friendly materials and technologies in product
design and material selection.Equipment Upgrade：Phase out high-energy-consuming process equipment introduce new energy-saving equip-
ment such as upgrading the workshop lighting system; promote smart manufacturing and automated production to
comprehensively improve energy efficiency.Energy Monitoring：Establish an energy management and control platform to realize real-time monitoring and
analysis of energy consumption in various departments assisting in energy consumption control and the achievement of
energy-saving and emission-reduction goals.Intelligent manufacturing Natural light design Energy management
workshop in the industrial area data center
Awareness education on energy
conservation and consumption reduction Energy-saving promotion
Photovoltaic Power Generation - Driving the Efficient Utilization
of Clean Energy
We actively promote renewable energy by installing photovoltaic systems on factory
rooftops. This technology converts solar energy into electricity supplying clean
power for production and office operations. It enhances energy efficiency and reduces
our carbon footprint aligning with our commitment to sustainability.In 2024 the total photovoltaic power generation amounted to
906099.33 KWh
Selected for the Recommended Catalog of Green Manufacturing
System Solution Suppliers in Hunan Province
Willfar Information thoroughly implements a comprehensive green management system encompassing green design
and selection green supply chain management green manufacturing and operations and green packaging and
recycling. Adhering to the principle of balancing economy and environmental protection we are committed to building a
development model that is both environmentally friendly and resource-efficient.Being selected in this recommended catalog is a high recognition of Willfar Information's contributions to continuously
building a benchmark enterprise for green manufacturing leading the industry's green transformation accelerating the
construction of green manufacturing systems and promoting high-quality development in the industry. It also injects
new impetus into the Company's green development.WILLFAR INFORMATION
2024 ESG REPORT 38Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
1.2 Water Resource Management
Willfar Information attaches great importance to water conservation efforts establishing water-saving organizational manage-
ment systems and setting up specialized water metering and statistics positions to ensure the effective implementation of
water-saving policies. To enhance water resource utilization and reduce wastewater generation we have adopted a series of
measures:
Water-Saving Strategy
Carry out water-saving promotional activities advocate for multi-purpose water usage and tiered water supply
systems and cultivate awareness of water conservation
Optimize equipment and processes adopt efficient cooling systems and water recycling systems to reduce exces-
sive consumption of water resources
Establish scientific water use indicators and assessment mechanisms to promptly identify and rectify issues
related to water waste
Introduce water-saving technologies and devices such as water-saving cleaning processes and water recycling
systems to improve water resource utilization efficiency
1.3 Emission Management
We recycle 100% of our production wastewater and the discharged wastewater
primarily consists of domestic sewage. During the reporting period we established
a comprehensive wastewater treatment facility and all tested items of theWaste discharged waste water met the Grade III standards of the“ Integrated WastewaterWater Discharge Standard” (GB8978-1996).The waste gas generated by the Company is mainly welding fumes. The welding
fumes produced during the welding process is collected centrally using centrifugal
ventilators Subsequently the collected fumes are treated through activated
carbon adsorption to remove pollutants before being discharged in compliance Integrated waste water
Waste Gas with relevant standards. treatment facility
In addition we regularly monitor the exhaust emissions of our company-ownedvehicles to ensure that the emissions comply with the “Integrated EmissionStandard of Air Pollutants” (GB16297—1996)
We have formulated the Waste Management Measures to classify and process the
waste generated during the production process.Waste General waste: including packaging boxes paper old books and magazines scrap
Materials metal and plastic etc. Waste bins are set up according to categories and placed in
reasonable areas with designated personnel responsible for transporting and
disposing of them. Equipment for centralized
Hazardous waste: such as contaminated empty drums used batteries solder paste collection and treatment
paper waste circuit boards waste cleaning agents and waste solder dross are of welding fumes
stored in a designated areas and regularly handed over to qualified suppliers for
recycling and disposal.“ Waste Paper for Green Plants” CampaignThe Party Committee of Willfar Information organized the“ Waste Paper for GreenPlants” campaign aiming to promote the concept of green and environmental
protection. During the campaign a total of nearly 200kg of office waste paper was
recycled reducing carbon emissions by approximately 0.25 tons.WILLFAR INFORMATION
2024 ESG REPORT 39Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
1.4 Addressing Climate Change
Global climate change has become a widely concerned issue in the international community. Facing this challenge enter-
prises and organizations need to take proactive measures to adapt to the constantly changing climate conditions. In order to
fully understand and effectively respond to climate-related risks and opportunities we have conducted in-depth identifica-
tion and analysis of climatic factors involved in our daily business activities.Risks
Physical Risk Risk Description Potential Impact Response Measures
Such as rainstorms floods It may damage production bases and Establish a disaster warning mechanism and
Acute Risk typhoons and other infrastructure leading to equipment emergency response plan to take prompt
extreme weather damage logistics disruptions and action in the event of sudden environmental
conditions. employee safety issues. incidents.Chronic Increasing temperatures It may increase energy costs lead to Strengthen energy management promote the rising sea level and raw material shortages and trigger use of renewable energy and establish a
Risk changes in precipitation new regulatory requirements. flexible supply chain system to ensure the patterns etc. stable supply of raw materials.Transition Risk Risk Description Potential Impact Response Measures
The introduction of relevant It may face stricter environmental
Policy and laws and regulations to regulations and carbon emission Track the dynamics of climate change policies
address climate change limits leading to increased compli- both domestically and internationally and Legal Risk may impact business ance costs and impacting supply chain promptly adjust strategies to comply with the
models. management product design and latest regulatory requirements.technology choices.The emerging technical Force the Company to accelerate Increase investment in research and
Technical demands arising from technological innovation and development of green technologies actively
转R型i风sk险 addressing climate change upgrades to meet the increasingly seek partners establish innovation mecha-and the limitat潜ion在s o影f 响 stringent environmen应ta对l s措tan施dards nisms and accelerate the application and 风险e描xis述ting technologies. and market demands. promotion of new technologies.Involve the perceptions of Consumer preferences are shifting
Reputational the public customers and towards green products and services Strengthen communication with stakehold-investors regarding the and failure to respond to this trend in ers respond to market demands develop and
Risk Company's actions to a timely manner may impact the promote green products and services and
address climate change. Company's brand value. enhance brand loyalty.The impact of climate Failure to timely adjust the product Closely monitor market dynamics flexibly
Market Risk change on market demand line to meet green consumer demand adjust production and marketing strategies
and supply chains. may result in loss of market share and strengthen supply chain management and
customer attrition. establish a diversified supplier network.Opportunities
Opportunities Opportunity Description Potential Impact Response Measures
Resource Optimize resource Enhance energy utilization efficiency conduct utilization reduce waste Reduce operating costs minimize environmental impact and enhance regular energy efficiency assessments and Efficiency and improve production corporate image. enhance employees' awareness of resource efficiency. utilization.Energy Utilize renewable energy Reduce energy costs decrease carbon Increase the use of renewable energy and sources such as solar emissions and improve the stability of reduce consumption of traditional energy
Source energy. energy supply. sources.Products Develop or promote Enhance market competitiveness
low-carbon products and strengthen customer loyalty and Launch green product lines establish green and services to meet market explore new markets through the supply chains and strengthen market promo-
Services demand. demand for low-carbon products and tion and brand building.services.Seize the global emphasis on
Market sustainable development to Increase market share and enhance Actively participate in green projects and explore new markets and brand value. expand into international markets.customer groups.WILLFAR INFORMATION
2024 ESG REPORT 40Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
02
Accelerating the
Modernization Transformation
of the Energy System
With the large-scale growth of renewable energy the demand for energy collaboration and optimization is surging
presenting new industry opportunities and a window of opportunity for Willfar Information. The wave of urbanization
and energy infrastructure upgrades in emerging economies also lays a solid foundation for us to deepen overseas
expansion enabling it to promote its cutting-edge integrated solutions globally and assist in the digital transforma-
tion of the global energy system.
2.1 Supporting the Construction of New Power System
Emerging renewable loads present four critical dimen- Relying on our rich technological reserves and experi-sions of challenges and opportunities “intermittent ence in the field of power IoT Willfar Information active-stochastic variations massive yet decentralized ly responds to the national goals and plans for the
deployment multidimensional complexity and unpre- construction of the new power system. Focusing on keydictable volatility patterns”. Addressing these requires core technologies it provides digital solutions withintegrated technological solutions such as “precision full-chain perception and full-scenario applications forsituational awareness systems ubiquitous IoT connec- all aspects of power generation transmission distribu-
tivity frameworks digital twin simulation platforms tion and utilization continuously injecting newand intelligent computational analytics engines”. momentum into the digital transformation of the
Digital-intelligent convergence serves as the critical national power system.pathway to overcome core challenges in new power
systems.Whole-box Metering Solution
Medium-Voltage Distribution Power Information Collection Solution
Network Automation Solution
Transparent Transformer District
Electricity Quality Monitoring (TTD) Solution
and Analysis System Solution. Substation Electric Energy
Transmission Online Data Acquisition Solution
Monitoring Solution Power ConsumptionPower Distribution
Power Transmission
Substation
Power Generation
Centralized Photovoltaics Charging Piles (Coordinated Wind Power Distributed Photovoltaics Energy Storage Device
(Power Spot Trading) Charging Service)Generation (Four Types: Observable
Measurable Adjustable
Controllable)
WILLFAR INFORMATION
2024 ESG REPORT 41Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Medium-Voltage Distribution Network Automation Solution
The integration of distributed new energy into distribution networks has far-reaching impacts making grid
topology more complex and operating modes more variable. The coordinated interaction of new energy
load and energy storage demands new approaches to protection configuration and principles while also
raising the bar for the operation and maintenance of distribution network protection equipment. To meet
these challenges distribution automation devices—such as DTUs (Distribution Terminal Units) FTUs (Feeder
Terminal Units) integrated primary-secondary devices fault indicators and traveling wave distance
measurement devices—must incorporate active protection functions for distribution networks. Additionally
management requirements are expanding beyond distribution networks to include transmission lines and
substations.Communication
Network
Decentralized/Distribut-
ed Distribution Terminal
Overhead Fault Indicator
Distribution Automation
Substation Terminal
Hood-Type Feeder Box-Type Feeder
Terminal Terminal
Intelligent
Low-Voltage Switch Cable-Type Fault Indicator
The medium-voltage distribution network automation solution integrates big data analytics and AI
algorithms to enable intelligent precise and instant detection of grounding faults in distribution networks.This not only supports the development of new power systems but also elevates the performance of fault
indicators FTU DTU and other key devices.WILLFAR INFORMATION
2024 ESG REPORT 42Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Low-Voltage Distribution Transparency Solution
The solution leverages deepened transformer district applications to meet customer needs maximizing the valueof user electricity data. It explores new models for the integration of “new equipment new technologies and newservices” featuring “stable operation advanced technology lean management and high-quality service.” It
aims to enhance grid efficiency improve customer-side energy services and strengthen external capabilities
accelerating the digital transformation of low-voltage transformer districts.Distribution Automation Electricity Consumption
Master Station Data Collection Master Station
IoT Platform Business Functions Management Functions
Meter Box Switch
Public Network / Private Customer Meter
Distribution Network Low-Voltage Branch Switch
Transformer Secondary Branch Switch
Transformer District
Main Switch
Photovoltaic
Intelligent
Integrated Terminal Transformer
District Main Meter High-Speed Carrier Network
Charging
Station
Transformer district transparency is achieved through the integration of the main station intelligent transformer
terminals smart sensing devices and sensors. By enhancing the system platform with message middleware and
microservices architecture the solution enables four-level electrical topology identification ("transform-
er-line-box-customer") within the district. It also supports line loss and impedance calculations as well as real-time
monitoring. This enhances the operational awareness of key nodes improves fault location accuracy and
ultimately boosts power supply reliability and customer satisfaction.WILLFAR INFORMATION
2024 ESG REPORT 43Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
New Energy Orderly Integration Solution
Solving the orderly integration of large-scale distributed new energy.Supporting the construction of a new power system.Facilitating the achievement of dual carbon goals
Implement minute-level data collection for
distributed PV users to enable real-time
perception operational monitoring and
anomaly analysis of distributed PV generation
Deploy micro-applications for distributed
photovoltaics （PV） to achieve panoram- Observable
ic visualization of distributed PV statistics
operating status control adjustments and
anomaly alerts.Measurable
Controllable Apply PV control devices and intelligent
Utilize PV-specific circuit breakers to IoT energy meters to establish flexible
establish rigid control capabilities adjustment capabilities enabling flexible
achieving rigid controllability for all adjustability for distributed PV users.distributed PV users. Adjustable
10KV Line
Residential
Transformer
District PV Installation Capacity ≤ 2MW
2MW ≤ PV Installation Capacity ≤ 6MW
Transformer District Terminal 10KV Line
220V Line
Excess
Power Sale PV Modules PV Inverter
PV Modules
Inverter Control and
Regulation Device
Electricity
Meter
Flexible Grid-Connection Control Box
Observable、Controllable、Measurable、Adjustable
Real-time visualized data display and transparent monitoring of The grid integration process features rigid controllability and flexible
grid-connected PV systems enable clear operational insights. adjustability achieving orderly regulation of PV power generation.WILLFAR INFORMATION
2024 ESG REPORT 44Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Low-Voltage Distribution Load Management Solution
Deploying intelligent load management devices at critical grid points enables real-time data collection and decen-
tralized control of electricity usage. This empowers the management center to monitor and optimize grid status in
real-time. The devices use demand response mechanisms to regulate user consumption during peak periods
balance loads and enhance the economic and reliability aspects of the distribution network.Additionally the system supports the integration of distributed renewable energy sources such as solar and wind
power facilitating the optimization of the energy structure. Through real-time information feedback mechanisms
users are incentivized to adjust their electricity usage behavior based on dynamic pricing. Leveraging IoT and cloud
computing technologies the solution further improves the operation and maintenance efficiency of the power
grid reduces operational costs and provides users with a higher quality of service experience.New-Type Power Load System Electricity Consumption
Data Collection System
Main Load Switch
0.4 KV Line
4G/5G Private
Transformer Network (230 MHz) Control
Air Conditioning
Load
Feedback Branch Switch
0.4 KV Line
Control
Auxiliary
Production Load
Feedback Branch Switch
Control
Transformer District Main Meter Main Production
Load
Feedback Branch Switch
Control Control
All Loads Except
for Essential
Services
Dedicated Transformer Terminal Feedback
Measurement Terminal / Branch Switch
Load Control Terminal Branch Monitoring Device
Load Management Branch Device Disconnection and Connection of
Collect load data from each branch; Respond Corresponding Branch Load
to remote on/off commands from the main
station; Implement local closed-loop load Collect load data and on/off status of the
control; Sample and feedback the execution corresponding branch；Control the
status of on/off commands downstream branch switch
WILLFAR INFORMATION
2024 ESG REPORT 45Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Virtual Power Plant Operation and Management Cloud Platform
The Virtual Power Plant Operation and Management Cloud Platform is responsible for integrating distributed resources
within a region including photovoltaics wind turbines energy storage systems electric vehicle charging stations V2G
(Vehicle-to-Grid) systems solar-storage-charging stations thermal storage (both cooling and heating) industrial and
commercial loads and building complexes. This platform provides support for the aggregation coordination control
monitoring and commercial operation of these resources.The platform is designed to support demand response ancillary services and spot markets facilitating flexible grid
dispatch and promoting the coordinated operation and market-oriented services of distributed power sources and
adjustable resources. By participating in electricity markets and interacting with grid control the platform can generate
revenue and share it with users.Virtual Power Plant Operation Management Cloud Platform
Virtual Power Plant Operation
Management Cloud Platform
Virtual Power Plant Operation Management Cloud Platform
WILLFAR INFORMATION
2024 ESG REPORT 46Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
2.2 Contributing to the Construction of Global New Energy System
Amidst the global energy transition Willfar Informa-
tion adheres to a concept of continuous innovation to For the Chinese market:
meet the emerging needs of various scenarios. We Business covers 30+ provincial capitals
deepen our integrated Energy IoT solutions into 600+ cities and 2700+ counties
various application scenarios such as cities industrial With over 100 million IoT devices connected
parks buildings and enterprises achieving the
digitalization and low-carbon operation of urban And solutions & IoT products used by 100000+
public infrastructure including electricity water gas enterprises.heating power consumption and charging. This
approach is aimed at promoting the construction of For overseas markets:
new energy systems and advancing intelligent Business spans 50+ countries and regions
management. With over tens of millions of user connections
Domestic Revenue: 2.31 billion yuan with a year-on-year
In the future we will align with the trend of energy increase of 16.40%
decarbonization and empower more countries cities
and enterprises to build clean low-carbon safe and International Business Revenue: 421 million yuan
efficient energy management systems thereby with a year-on-year increase of 85.40%.driving the transformation and upgrading of the
global Energy IoT.Smart Water Electricity and Gas AMI Smart City
(Advanced Metering Infrastructure) Big Data
Smart Energy Smart City
Communication
Smart Distribution Network Smart Industries
Data Sensing
New Energy Integration
Integrated Energy
WILLFAR INFORMATION
2024 ESG REPORT 47
Energy Flow and Information FlowTransparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Guaranteed by International Certification
Facilitate Efficient Urban Water Resource Management
The smart ultrasonic water meter developed by Winmeter Energy a subsidiary of Willfar Information has success-
fully obtained the following international certifications:
Slovak Legal Metrology Laboratory (SLM) MID and OIML Certification
UK WRAS Certification
EU Notified Body CE RED Certification
OMS Certification
SQM Quality Certification and Type Approval Certification by the Saudi Standards Metrology and Quality Organiza-
tion (SASO)
The new-generation smart ultrasonic water meter integrates dual-mode NB-IoT and Wireless M-Bus communica-
tion technologies coupled with an integrated intelligent valve control system enabling seamless integration of
remote monitoring and adaptive flow regulation capabilities. This innovation empowers users with real-time water
consumption analytics and instant anomaly detection effectively minimizing water losses.Smart water meters can collect a large amount of water usage data. City administrators can use the data to formu-
late more scientific and rational water resource management strategies thereby promoting the development of
global energy digital management.Smart Water Meters Boost Digital Transformation of Water
Utilities in West Africa
Willfar Information has become one of the first product suppliers for the country's smart water meter retrofit
program in the West African market. The new-generation of overseas intelligent ultrasonic water meter series
products adopts patented technology in flow and pipe segment flow field design and is at the industry-leading
level in key technical characteristics such as high range ratio low start-up and low pressure loss which provides
water companies with high-precision and high-cost-performance metering solutions.At the same time by applying related patented structural design technologies the series of water meters has
realized characteristic functions such as anti-dismantle automatic reporting which further enhances the safety
and practicality of the products. These innovations not only effectively reduce the cost of water services but also
significantly improve the quality of water services strongly promoting the digital transformation and upgrading of
the water industry in the West African region.WILLFAR INFORMATION
2024 ESG REPORT 48Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Home Energy Storage System Solutions: Achieving Energy
Aggregation and Synergy
This solution stores the electricity generated by rooftop solar panels and household wind turbines as well as
low-cost electricity provided by the social power grid during off-peak hours in the energy storage system for
use during peak hours.The core component is the cloud monitoring system which is capable of collecting real-time operational
data from all devices. Leveraging big data and AI technologies it optimizes electricity supply and consump-
tion management. Through intelligent peak shaving the cloud monitoring system effectively reduces
electricity costs and lessens the reliance on the grid during peak usage periods.Generation Storage and Consumption Online Monitoring
3D User Interface Data Recorded in Real Time Equipment Status
WILLFAR INFORMATION
2024 ESG REPORT 49Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
04
Responsibility at Heart
Accountability in Action
With responsibility as our priority we are committed to 1. Building Sustainable Supply Chain System
building a responsible supply chain system actively honor-
1.1 Supply Chain Risk Prevention and Control
ing our commitments to customers and strengthening
1.2 Supply Chain Collaboration
information security safeguards to ensure data protection.With responsibility in our heart we are guided by
people-centric philosophy we dedicate ourselves to 2. Customer-Centric Responsibility Practices
creating a harmonious and healthy work environment for 2.1 Improving Service System
employees while actively engaging in social welfare 2.2 Customer Satisfaction Management
initiatives to spread positive energy and drive collective
progress with society. 3. Ensuring Information Security
3.1 Information Security Management Mechanism
3.2 Strengthening Protection Capabilities
4. Commitment to People-Centric Approach
4.1 Compliant and Equal Employment
4.2 Attracting Overseas Talents
4.3 Employee Compensation and Benefits
4.4 Focusing on Employee Growth
4.5 Protecting Employee Health
5. Engaging in Social Welfare
5.1 Contributing to Rural Revitalization
5.2 Spreading Warmth through Love
WILLFAR INFORMATION
2024 ESG REPORT 50Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
01
Building Sustainable
Supply Chain System
1.1 Supply Chain Risk Prevention and Control
The global supply chain landscape is becoming increasingly complex with potential risks at every stage from raw
material procurement to product delivery. Therefore we are continuously deepening our supply chain management
and actively promoting a sustainable supply chain.Supplier Management
We have established comprehensive supplier evalua-
tion criteria and thorough introduction and review Supplier Evaluation Factors
processes assessing suppliers across multiple dimen-
sions to ensure that they meet our requirements.We implement full lifecycle management for suppliers Quality Level Technical Price
and have formulated the Supplier Management Capability Competitiveness
Measures. Every six months we conduct a tiered evalu-
ation of suppliers across multiple dimensions includ- Delivery Social Service Level
ing quality delivery cost technology service and Capability Responsibility
green supply chain practices. Based on these evalua-
tion results we dynamically manage our supplier
relationships—rewarding top performers eliminating
underperformers and encouraging all suppliers to
enhance product quality and delivery efficiency.Willfar Information has a total of 378 quali-
We have incorporated ESG factors into our supplier fied raw material suppliers all of which have
evaluation scorecard and require suppliers to sign the
Social Responsibility Commitment Letter. Additionally obtained ISO9001 Quality Management
we distribute the Green Supply Chain Management System Certification (100%).Survey to assess suppliers' ESG management practices.We encourage suppliers to actively implement ESG
measures to enhance the resilience of our supply chain
against ESG risks.Risk Prevention and Control Measures
In addition to maintaining high standards in supplier selection we also maintain ample raw material inventory and
possess strong emergency supply capabilities. Leveraging our comprehensive integrated supply chain platform we
are able to provide customers with high-quality efficient and highly reliable products and services ensuring the
stability of the supply chain.WILLFAR INFORMATION
2024 ESG REPORT 51Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Supply Chain Risk Prevention and Control Strategies
Raw Material Inventory Security Mechanism
In collaboration with suppliers we have established a safety stock reserve mechanism and a raw material
supply linkage mechanism to ensure the stability of raw material supply.Raw Material Emergency Supply Mechanism
In response to market demand fluctuations and unexpected situations we have established an agile supply
chain management system. With a comprehensive supplier resource pool we are able to quickly enhance
our raw material supply capacity and respond to urgent market demands in a timely manner.Integrated Supply Chain Platform
We have established an integrated supply chain platform that aggregates high-quality supplier resources
from the industry. Through rigorous selection and evaluation systems we can effectively ensure the product
quality supply security and service level of our suppliers.End-to-End BCM System
We have established a Business Continuity Management (BCM) system which is capable of identifying
potential threats to the organization and analyzing the impact on business operations if a threat occurs.Through the implementation of effective response measures the BCM system is designed to protect the
interests of key stakeholders.
1.2 Supply Chain Collaboration
Willfar Information actively organizes and participates in supplier communication activities fostering consensus with
suppliers on technological innovation product quality improvement and green development concepts.In addition we conduct supplier training sessions that cover topics such as quality improvement and optimization of
supply chain management. These programs are designed to help suppliers enhance their overall competitiveness and
thereby establish closer cooperative relationships.WILLFAR INFORMATION
2024 ESG REPORT 52Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
02
Customer-Centric
Responsibility Practices
2.1 Improving Service System
Willfar Information has established a sound customer
service system and optimized sales network. By combining
technical service standards with personalized services we
provide customers with efficient and high-quality service
experiences.We have developed multiple service management
documents including the On-site Service Management
Measures and the On-site Service Safety Management
Measures. Additionally we have assembled professional
after-sales service teams to promptly respond to customer
needs and provide technical services throughout the entire
customer journey from training to product support. Five-Star After-Sales Service Seven-Star Completeness of After-Sales Certification Service Certification
2.2 Customer Satisfaction Management
Based on the American Customer Satisfaction Index (ACSI) model Willfar Information has developed the Customer Satisfac-
tion Measurement and Control Procedure focusing on dimensions such as product accuracy operational quality and
service quality. We conduct annual customer satisfaction surveys analyze the feedback received from customers and imple-
ment corrective actions. Through these efforts we continuously improve service quality. In 2024 the customer satisfaction
rate reached 99.95%.We have established the Management Measures for Customer Complaint Handling and Closed-loop Management of Product
Quality. Through standardized processes we ensure the effective implementation of complaint feedback problem resolu-
tion preventive measures and internal accountability.The Technical Service Department is responsible for the management of customer complaints including collection record-
ing filing communication and external coordination. By leveraging an information management system we ensure
complaints are promptly responded to and handled efficiently. To quickly address complex situations we have established
an emergency response team dedicated to handling significant or urgent complaints ensuring rapid remediation and
efficient resolution.Complaint Handling Procedure
Prepare preliminary Conduct root cause Develop long-term Coordinate resources
response plans analysis solutions for external solution
implementation
Implement preventive Take and verify
Publish reports Follow up for closure measures to prevent long-term corrective
recurrence actions
WILLFAR INFORMATION
2024 ESG REPORT 53Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
03
Ensuring Information
Security
3.1 Information Security Management Mechanism
We are fully aware of the importance of information security in maintaining customer trust and ensuring continuous business
operations. To enhance computer security management we have formulated the Information Security Management
Measures and the Data Center and Data Backup and Recovery Management Measures in accordance with relevant laws and
regulations and in reference to the ISO 27001 standard. This ensures that we can effectively address various information
security challenges in the rapidly evolving digital environment.The Requirements of the Information Security Management Measures
During working hours employees are strictly prohibited from using the Company's computers and network
resources for any activities unrelated to work. Additionally they must not engage in any actions that may jeopar-
dize the Company's information security.Without approval the distribution of materials is restricted to the Company's unified enterprise email system.Any storage media brought into or taken out of the Company must be authorized and corresponding records must
be kept for audit tracking.
3.2 Enhancing Protection Capabilities
We uphold a dual-track approach of“ technology + mechanism” to reinforce the firewall of information security rigorous-
ly safeguarding the data security of customers users suppliers and industry chain partners and eliminating risks of
information or privacy breaches. During the reporting period no data leakage incidents occurred.Technology Mechanism
We have established a comprehensive information system We continuously improve our internal management mech-
security protection framework. Leveraging our self-devel- anisms and sign Information Security Confidentiality
oped technology we continuously advance the security Agreements with relevant personnel. We also enhance our
upgrades of our product systems operating systems and employees' sense of responsibility and improve their
management systems while also ensuring timely software professional standards. Through multiple measures to
updates. Additionally through strategic collaboration with strengthen supervision we protect information security
leading information security companies in the industry we and strictly prevent the leakage of information and privacy
further enhance the robustness of our information security related to customers users suppliers and partners in the
protection capabilities. industrial chain to third parties.We conduct information security training including sessions on corporate data security and compliance for global expan-
sion. This helps employees enhance their security awareness identify potential risks and implement effective protective
measures.WILLFAR INFORMATION
2024 ESG REPORT 546Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
04
Commitment to
People-Centric
Approach
4.1 Compliant and Equal Employment
Willfar Information adheres to a“ people-centric” value and is committed to creating an open inclusive and innovative
platform to attract and cultivate outstanding talents with a global vision and professional skills. We focus on employees'
career growth and personal development offering diversified training opportunities and broad career development
space. We encourage innovative thinking advocate teamwork respect the unique value of each employee and together
drive the progress of the Company and society.Protecting Employees' Rights and Interests
in Accordance with the Law
We integrate principles such as lawful em-
We strictly comply with laws and regulations such as the Labor ployment equal opportunities elimination
Law of the People's Republic of China the Labor Contract Law of of forced labor and anti-discrimination and
the People's Republic of China and the Regulations on the Prohi- harassment into every aspect of our busi-
bition of the Use of Child Labor. To effectively protect employees' ness operations.rights and interests we have established comprehensive internal
regulation systems and developed the Employee Handbook.Creating Fair Workplace Environment
We strictly adhere to the principle of equality and oppose any
form of discrimination in recruitment. We provide every job can- We adhere to the principles of fairness and
didate and employee with fair and equal opportunities maintain- justice without bias based on gender age
ing a workplace free from bias and based on mutual respect. ethnicity religious beliefs or physical condi-tion. We also strengthen the management of
employee privacy.Employer Honors
National Model Enterprises for Creating Harmonious
Labor Relations
Grade A Units for Labor Security Compliance and
Integrity in 2023
Vice-President Unit of Changsha High-Level Talents
Innovation and Entrepreneurship Promotion Association
Liepin Annual Leap Award
Zhaopin 2024 China Preferred Employer of the Year
WILLFAR INFORMATION
2024 ESG REPORT 55Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Attracting Diverse Talents
We are committed to creating a diverse workplace where employees can fully utilize their talents and grow with
the company. We actively expand recruitment channels breaking geographical industry and background
barriers. Through campus and social recruitment university-enterprise cooperation and talent introduction we
attract outstanding global talents to join the Willfar Information family. We believe diversified backgrounds
experiences and perspectives stimulate innovation and drive our continuous development. We will continue to
explore innovative recruitment methods to meet our rapid growth needs and provide a platform for ambitious
individuals to showcase their talents.We have built a diversified workforce that includes people of different ages genders cultural backgrounds and
professional fields. We respect differences encourage expression and provide equal opportunities for all
employees to showcase their talents. We believe a diversified team structure stimulates creativity and vitality
enhancing our overall competitiveness.Diversified Talent Structure
As of the end of the 24% 3%
reporting period the total 24%
number of employees was 30 years old and below: 223 Gender Age 26%
859 with a 100% contract Distribution Distribution 31-40 years old: 399
signing rate. Male 651 41-50 years old: 209
76% Female 208 Over 50 years old: 2847%
8%25%
21%
20% Management: 68 2% Bachelor's degree: 419
Occupational Distribution of Production: 177 Master's degree: 207
Distribution Educational
R&D Technology: 441 Background 49% Doctoral degree: 15
24%
Sales: 173 Others: 218
51%
4.2 Attracting Overseas Talents
Willfar Information has positioned“ internationalization” as one of the core strategies focusing on“ global mindset globalstrategy and global organizational framework. ” By building a global talent ecosystem establishing an internationalized organi-
zational structure and implementing global management practices we are advancing organizational readiness talent
reserves and capability development to deepen our internationalization strategy. These efforts inject robust momentum into
the growth of our global business operations laying a solid foundation for sustained international expansion.WILLFAR INFORMATION
2024 ESG REPORT 56Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Establishing Global Talent System and Attracting Elite Overseas Talents
Targeted Talent Recruitment - Building Global Talent Hub
We focus on key positions and actively recruit high-end talents with international vision professional skills and cross-cultural
communication abilities to enhance our team's overall strength.Integrated Development Programs - Empowering Global Business Growth
We conduct training on product knowledge including AMI distribution networks and new energy. Frontline marketing sales
and documentation staff receive practical foreign trade operations training. Management teams get spoken English training
to develop strong communication skills. These efforts aim to build a high-quality professional and internationalized team.Multifaceted Incentives - Fueling Innovation and Vitality
We implement a diversified incentive policy including operational performance incentives special incentives and employee
share ownership plans focusing on results to drive the achievement of our international business goals.Building International Organizational Structure and
Developing Efficient 0perating System
Flexible Deployment - Optimizing Overseas Resource Allocation
We flexibly set up subsidiaries factories and offices to meet the management needs of different countries and regions
creating an adaptable organizational structure for efficient global operations.Professional Support - Building Elite Overseas Teams
We optimize our organizational structure allocate key resources and build a nearly 300-member overseas support team to
provide robust professional support for our international business development.Localized Operations - Integrating into Regional Development
We focus on our international business strategy and introduce diverse professional talents through multiple channels to
support our business expansion. These talents include individuals with overseas study backgrounds or local education in
target markets as well as local technical and operational experts. Their contributions drive regional business growth and
enable localized operations.Implementing International Management Models and Enhancing
Global Competitiveness
Compliance-Driven Operations - Safeguarding Sustainable Business Health
We develop and refine management practices tailored for international operations to ensure compliance and efficiency
safeguarding the healthy development of our international business.Cultural Integration - Fostering Global Corporate Culture
We respect cultural differences promote cultural integration and foster an inclusive open and diverse global corporate
culture to enhance employees' sense of belonging and cohesion.Continuous Innovation - Leading Industry Advancement
We encourage innovative thinking support technological innovation and continuously enhance the quality of our products
and services. By leading industry development we aim to become a globally competitive enterprise.WILLFAR INFORMATION
2024 ESG REPORT 57Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
4.3 Employee Compensation and Benefits
Compensation Policy
Willfar Information has established a scientific assessment and incentive mechanism. In terms of compensation policies
it adheres to market orientation and performance-based principles to build a rational compensation system that priori-
tizes core talents and frontline employees. We implement competency-position matching determining compensation
based on position value qualifications work performance and task objectives. By adopting a dual approach of rewards
and deductions we ensure compensation flexibility—adjustable upward and downward adaptable to role changes and
maintaining equal pay for equal work.Regarding incentive measures we uphold the principle of “strategy orientation with market and product focus” imple-
menting comprehensive multi-tiered special incentive programs. For key markets regions and business areas differen-
tiated incentive policies are applied to drive corporate performance and achieve critical business objectives.In innovation we systematically develop multi-dimensional incentive mechanisms covering technology and product
innovation market and sales innovation operations and mechanism innovation as well as management and service
innovation. To this end we have established various talent incentive awards and rewards for patents and commercializa-
tion of technological achievements. Concurrently we are progressively rolling out medium-to-long-term incentive plans
such as employee share ownership schemes as sustainable motivational tools to stimulate staff engagement and
creativity.Employee Share Ownership Plan
In early 2024 Willfar Information launched the first Employee Share Ownership
Plan with a total of 4 million shares. The plan includes a lock-up period with
shares unlocking in three phases.The Employee Share Ownership Plan sets individual performance criteria based
on evaluation scores and comprehensive assessments. It motivates participants
while imposing constraints encouraging long-term shareholding and a focus on
the company's long-term value. This aligns the interests of plan holders with
those of the Company and its shareholders.Employee Communication and Feedback
Willfar Information values employee communication and feedback fostering an open transparent and trusting work
environment through diverse channels and regular feedback mechanisms. We believe that listening to employees builds
consensus while respecting their needs unleashes organizational vitality.We regularly hold staff congresses inviting representatives to discuss major decisions and conduct employee satisfaction
surveys to understand and address their concerns enhancing communication between employees and management.WILLFAR INFORMATION
2024 ESG REPORT 58Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Employee Benefits
Willfar Information offers comprehensive benefits packages to help employees achieve work-life balance and strength-
en their sense of belonging.Economic Welfare Employee Care
Statutory Unemployment Insurance Housing Provident Fund
Occupational Injury Insurance Maternity Insurance Extra BenefitsBenefits
Social Pension Insurance Skills Enhancement Training
Employee Meals
Commuter Shuttle
Extra Employee Assistance Fund Audio Library
（Education for Offspring Poverty Assistance）
Benefits Holiday PresentsOverseas Allowance
Innovation and Entrepreneurship Fund
Family Care Health and
Safety Assurance
Statutory Marriage Leave
Pregnancy Check-up Leave Statutory Basic Medical InsuranceBenefits Medical Leave
Maternity Leave Benefits Sick Leave
Paternity Leave Statutory Annual Leave
Breastfeeding Leave High-Temperature Allowance
Bereavement Leave Extra Benefits
Supplementary Commercial Insurance Health Consultation Service
Extra Critical Illness Insurance
Gymnasium
Children's Day Gifts Accident Insurance and Life Insurance Cultural and Sports Activities
Benefits Home Leave for Overseas Assignees Annual Health Check-up and Interpretation Service
Psychological Counseling and Annual Mental Health Assessment
4.4 Focusing on Employee Growth
Dual-Track Promotion System
Willfar Information provides clear career advancement pathways to support employee development. We have imple-
mented a dual-track model with management and professional tracks to provide personalized career paths and fully
unlock organizational vitality and talent potential.Dual-Track Promotion Pathway
Management Pathway Professional Pathway
Leader Senior Expert
Manager Expert
Key Personnel Key Contributor
Experienced Employee Experienced
Dual-Track
Novice Career Development Novice
WILLFAR INFORMATION
2024 ESG REPORT 59Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Training Management System
Willfar Information supports the personal and professional development of new employees specialists and managers through
diverse learning pathways and resources. We partner with external academic institutions and third parties to enhance employ-
ees' professional knowledge and broaden their perspectives. Additionally we provide learning platforms and resources to
business partners and investment firms sharing industry insights practices and experiences to support industry-wide talent
development.Training Program
Management Capability Enhancement Plan Professional Skills Breakthrough Initiative
External training Plan： Domestic Full-Staff Marketing Series
EMBAMBAAI Strategy and Leadership Overseas Full-Staff Marketing Series New Journey Advanced Progression Plan
Corporate Culture Promotion Plan
Enhancement ProgramEra-Leading Seminar Overseas Navigation Program / Business English
Corporate Culture Roadshow
Willstar’s Training Camp for Campus Recruits Online Corporate Culture Q&A Contest
Internal Training Program： Corner
Dragon Seed ProgramDragon Leap Cutting-Edge Technology PhD Salon / Technical Growth Training Camp for Social Recruits
Reading Activity of "Willstar News"
Five-Minute Corporate Culture Implementation
ProgramInnovation Business Standards Learning Day One-on-One Training for Headhunted Talents
LectureManagement Skills Enhancement and Technical Support Practical Skills Competition
Activity
Multi-Skill Enhancement Program Overseas Corporate Culture CourseEmpowerment ProgramBusiness English
Improvement Cources Specialized Management Training for HR
Finance & Admin
ZhiXue Cloud
Internal Training Management Vocational Onboarding Cultural Promotion
Platform hosts a
Training Training
vast amount of
Training and Advocacy online learning
resources
Advanced management capability courses for
management cadres at different levels Customized vocational skills training Rapid integration training programs for new
Leadership Enhancement Courses for Operation programs tailored to employees recruits from society and campuses as well as Corporate culture promotion training
and Management Teams employees undergoing job rotation courses for all employees
Strategic Planning Resource Technical Training Courses
Integration Decision-Making Product/Project Training Courses New Employee Orientation Willfar Information's Values and Corporate
Management Skills Development Programs for Marketing/Market Training Courses Job-Specific Training Courses for New Hires in Culture
Middle-level management Functional/Professional Training Courses Various Business Groups History of Willfar Information's
Team Management Innovative Management Provide general skills training courses Mentorship and Specialized Coaching Programs Development
Communication Management for New Employees Enhance awareness understanding
Capabilities Enhancement courses for Frontline Job Rotation Mentoring and Training recognition and implementation of
Management corporate culture
Business DevelopmentExecution
EnhancementProblem Solving
Curriculum System
Providing training
Industry resources and
External Public Technology Industry
Communication Welfare&CSR Learning and Summit &
content for
Forum subsidiaries Sharing partners and
customers.IEEE1901.3 Dual-Mode Communication World Energy Congress -
International Standard Conference Netherlands
Industry Standard Development and Revision
First Aid / Occupational Health Vietnam Power Forum - Conference in the Energy Sector Distribution Automation Summit
Course Interface Specification Conference for Electric Frontier Technology Innovation
Innovative Business Lecture Metering Equipment and Communication Unit Summit on Energy Internet of
Poverty Alleviation Project for Promotion and Application Training for New Things
Remote Area Children Types of Electrical Equipment Yangzhou Smart Energy Cutting-Edge Training in Electric Power
Sports Events: Badminton / Innovation ForumMetering and Monitoring Technology Summit on Distribution
Basketball League Digital Transformation and Innovation Training Technology Application
for Power Systems National Forum on Distribution
Maintenance and Fault Diagnosis Training for Fault Handling and Safety
Electrical Equipment Technology
2024 Training System Upgrade - Building an Intelligent and
Professionalized Talent Development Platform
Technology-Driven
Training Perception Premium Content Curation Enhancing Industry Collaboration
Leverage technical strengths to upgrade Integrate artificial intelligence and large Introduce top-tier reputable training
our internal learning platform (ZhiXue models into onboarding career develop- resources from the industry. Through
Cloud) allowing employees to access ment general competencies and leadership deep collaboration enrich our employ-
learning resources flexibly on mobile ee development courses and enhance
devices training to align with industry trends training professionalism
Encourage employees to turn their
Develop customized courses to better
meet the needs of the audience experience and knowledge into courses
integrating them into the company's
Offer online courses for managers to enhance knowledge-sharing mechanism.learning flexibility
Integrate career progression and expert
selection channels into the human resource
system to develop unique Willfar Information
training courses
WILLFAR INFORMATION
2024 ESG REPORT 60Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Management Training - Management Capability Enhancement Program
Willfar Information customizes leadership development systems to meet the needs of different management levels. Our
training model now combines online knowledge learning with offline discussions exchanges and assessment exercises.We have designed specialized training programs for managers at various levels and career stages including the
“Dragon Potential Program” “Dragon Leap Program” and New Manager Training. In 2024 we selected 360 manag-
ers to join these programs enhancing their leadership skills for career advancement and building a talent pool for our
management teams.Curriculum System Training Project Resource Support
EMBA
Senior Training Courses for
MBA
AI Strategy and Leadership
Operation and CEO Forum Enhancement ProgramManagemnt Era-Leading Seminar Advanced Empowerment SeminarManagement Teams Business English Improvement Cources
Innovation Business Lecture
Middle-level Training Courses for
Advanced Knowledge for Career External Training
Advancement from Frontline to Executive
Middle-Level Management Management Skills Enhancement and High-end ForumManagement Empowerment Program External CoachingTeams Management course for Middle ManagersDragon Leap Program Academic Education
Frontline Benchmarking Training Courses for Frontline How to Become a Qualified Product Manager Learning
Management Management Teams Three Core Management Systems for Frontline Managers External Forum
Dragon Seed Program Voices of Experts
Growth Engine for Newly Promoted
Management Reserve Successor Training Managers Activity Salon
Courses Professional Competencies and Work Habits for Managers
Employees with General Courses Effective Communication
Management ZhiXueYun Online Classroomfor Employees Workplace Etiquette
Responsibilities
Leadership Development Courses & Programs
Leadership Development Program
We focus on the comprehensive development of managers and have developed a capability map based on our core
values. This map covers strategic business team and change management. Using it as a foundation we provide
customized learning resources and development plans for managers at different levels. This enhances their
management skills and leadership techniques enabling them to lead their teams more effectively and maintain
our competitive edge.Personalized Capability Assessment and Guidance
For core talents we provide personalized competency assessments and mentorship. For instance in our leader-
ship pipeline programs such as the“Dragon Potential Program”and“Dragon Leap Program”designed for
high-potential future leaders the company’s Assessment Center conducts comprehensive evaluations for each
participant. These evaluations help participants gain a deeper understanding of corporate expectations and
standards while identifying their strengths and areas for growth. Based on the assessment results we collaborate
closely with participants’ supervisors and the HR department to craft tailored development plans for each
individual. This ensures rapid growth along career paths aligned with their potential empowering them to become
the backbone of sustainable team development.WILLFAR INFORMATION
2024 ESG REPORT 61
Development PathTransparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Onboarding and Rotation Training - New Journey and New Advancement Program
To help new employees integrate quickly we offer targeted pre-job training. Campus hires receive closed training in
professional ethics and workplace skills while social hires focus on understanding our corporate culture and business
processes. Each business group also provides specialized training based on their unique needs. In 2024 we enhanced
learning efficiency by introducing pre-learning and small-class teaching methods.Willfar Information learning center actively fosters mentorship and interaction between new and experienced
employees supporting continuous growth across all career stages. New employees are assigned mentors upon
onboarding who provide structured guidance under the New Employee Mentorship Program. This program outlines
mentor responsibilities selection criteria and the mentoring process to ensure effective and organized support.To develop and retain talent we have established a comprehensive management process that encompasses job
rotation planning pre-rotation training implementation and assessment of rotation outcomes. This approach is
designed to align with the development needs of both the Company and the employees.Pre-Onboarding Guidance Early-Onboarding Support Onboarding Training
Before onboarding mentors communicate After onboarding mentors work with new New employees are arranged to interview
with new employees answer questions and employees to set goals establish workflow senior colleagues on cultural integration
recommend resources to prepare them for habits and offer career guidance via daily efficiency and career development speeding
their first day. instructions regular check-ins and feedback. up their integration into the company culture
and boosting work effectiveness.WILLFAR INFORMATION
2024 ESG REPORT 62Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Career Development Training ? Professional Skills Breakthrough Initiative
For professional development we recommend learning resources tailored to employees' professional fields levels
and job requirements. Employees can select courses and learning methods based on their interests needs and devel-
opment stages. Beyond regular training we offer diverse learning and exchange opportunities.Company-Wide Marketing Training
We have developed comprehensive marketing capability enhancement systems for domestic and international front-
line marketing staff offering courses and sharing sessions on topics such as products and solutions marketing strate-
gy development and market planning.The training program invited general managers from various business groups and divisions to provide in-depth analy-
sis and detailed explanations of key businesses new products and solutions with the goal of enhancing employees'
business development and channel expansion skills. Following the training we will organize assessments for all
marketing technical support and market personnel to reinforce their learning through testing.Global Empowerment Bootcamp
We conduct specialized international training programs aligned with our corporate strategy focusing on internation-
al trade rules and processes. This enables us to build a professional and international trade team.Global Marketing Business Empowerment Training
External Training Basic theoretical knowledge of interna- Strategies for dealing with tariffs
tional trade and trade barriers
The training courses International trade risk management Trade financing and payment
include but are not and case study methods
Logistics and supply chain management Market development and sales
limited to: training techniques in international markets
Import and export procedures and
practical skills
Internal Training
We also invited leaders in international business to conduct internal training offering detailed insights into key products
and solutions. This initiative aims to fully prepare for adjustments and capability enhancements in international business
organizational structure teams and personnel planning.International Trade Negotiation Simulation Workshop
International Trade Practices & Case Study Training
International Trade Risk Mitigation & Compliance Management Workshop
We support and encourage employees to enhance their In addition we regularly organize professional exchange
professional skills through on-the-job education events inviting industry experts to share the latest
further academic studies and external certifications. insights innovations and valuable experience fostering
Full-time employees are eligible for rewards and knowledge exchange and sharing among employees.reimbursement for certification-related expenses in
relevant career fields.WILLFAR INFORMATION
2024 ESG REPORT 63Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Innovation Business Forum
We invited both internal and external technical experts to share nearly 60 cutting-edge topics and organized
a product and solution presentation competition. In addition we extended special invitations to investors
customers and recent college graduates to join us.Business Language Skills Enhancement
For overseas business executives，we offer online and on-site interactive training to enhance theirbusiness English and communication skills supporting our 2024 management goals.For all employees using BEC materials and scenario-based teaching we focus on improving English listen-
ing speaking product promotion marketing skills and business negotiation abilities.For employees in or heading to overseas roles we provide an APP-based learning program with 1v1 lessons
from native English teachers and WeChat group support. Topics include personalized self-introductions
everyday work English business communication presentation skills and international email etiquette.Internal Trainer Development Program
We conduct internal trainer training to build a high-quality team of internal instructors enhancing their role
in our talent development system facilitating the accumulation and transmission of organizational experi-
ence and driving the development of a learning organization.WILLFAR INFORMATION
2024 ESG REPORT 64Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
4.5 Protecting Employee Health
Willfar Information strictly adheres to national laws regulations and standards for
preventing and controlling occupational hazards. We have developed several manage-
ment measures including the Occupational Health Protection Management Measures and
the Emergency Rescue Plan Management Measures for Occupational Disease Hazards to
prioritize safety production and occupational health protection.Occupational Health and Safety
Management System Certification
Safety Production Management System
Safety Production Safety Education Safety Supervision Safety Emergency
Policies and Training and Inspection Management
We organize safety education and occupational health training provide annual health checks for workers exposed to
occupational hazards and maintain comprehensive occupational health records to ensure the well-being of our
employees.Electric Shock and Mechanical Injury Emergency
Response Competition
To enhance employees' emergency response skills
familiarize them with emergency procedures and
provide self-rescue and first aid training to reduce
accident impacts we held the 4th Electric Shock and
Mechanical Injury Emergency Response Competition.First Aid and AED Training Fire Safety Training
WILLFAR INFORMATION
2024 ESG REPORT 65Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
Workplace Well-being
We help employees effectively manage stress through mental health education and training.Employee Mental Health Training
Willfar Information consistently prioritizes the
physical and mental well-being of its employees. In
June 2024 we hosted a mental health lecture
series inviting a Council Member of the Hunan
Psychological Counselors Association and a
National Certified Level-II Psychological Counselor
to deliver specialized training. This initiative aimed
to enhance employees' mental health awareness
equip them with practical strategies to manage
psychological well-being and empower them to
thrive both personally and professionally with
renewed energy and resilience.To enrich employees' leisure lives we organized
various sports activities such as sports meetings
and basketball games helping employees stay
fit and relaxed outside of work.WILLFAR INFORMATION
2024 ESG REPORT 66Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
05
Engaging in
Social Welfare
5.1 Contributing to Rural Revitalization
As the forefront of rural revitalization efforts the development of rural areas holds critical significance. Willfar Information is committed
to leveraging technological and information-based approaches to drive rural revitalization. By enhancing energy conservation and
efficiency we effectively reduce the expenditures of rural households and improves their disposable income levels.Smart Energy Utilization - Promoting Digital Transformation of Rural Energy
With the accelerating pace of urbanization rural areas are of home appliances charging piles and household-dis-
facing growing challenges particularly in their power tributed photovoltaics in new rural families it can achieve
infrastructure. The increasing load on rural power grids analysis diagnosis and control of electrical equipment. It
and the inadequate power facilities have gradually can also provide digital value-added services such as
emerged as significant bottlenecks severely restricting energy analysis energy-saving diagnosis load adjust-
rural development. ment electrical safety and early warning of electrical
appliance failures for rural families and entire villages. This
Willfar Information has launched the Rural Households enables smart energy use for rural families and entire
Smart Energy Solution. By monitoring digital information villages making rural household energy observable
such as electricity load electrical safety types and status measurable controllable and adjustable.WILLFAR INFORMATION
2024 ESG REPORT 67Transparent Governance Innovation-Driven and Digital Empowerment Responsibility at Heart
and Standardized Operations Intelligent Future and Green Efficiency Accountability in Action
5.2 Spreading Warmth through Love
We have fostered the concept of a“ Public-Welfare Oriented Willfar.” We have assembled a volunteer team that actively engages in
charitable endeavors such as donations educational sponsorships and care visits creating value for society.Protecting the Healthy Growth of Left-Behind Children
From 2022 to 2024 we have carried out
love-support activities for left-behind
children in financial difficulties in Guitang
Town Longshan County Western Hunan.“Love Changes Destiny”Charity Scholarships
In 2024 the“ Love Changes Destiny” charity education
support activity was held in Changsha. As a caring
enterprise Willfar Information donated 1 million yuan
in scholarship funds through the Provincial Charity
Federation helping motivated students realize their
university dreams.Willfar Book Corner
Willfar Information established the “Willfar Book Corner” at the school in Mibei Miao
Autonomous Township Xinhuang Dong Autonomous County Western Hunan.Voluntary Blood Donation Activity
To promote and carry forward the spirit of Lei Feng and to
disseminate the volunteer service concept of "learning from
Lei Feng dedicating to others and improving oneself" on
March 20th Willfar Information’s Party Committee
organized a voluntary blood donation activity. More than 70
employees actively participated donating a total of 12100
milliliters of blood.WILLFAR INFORMATION
2024 ESG REPORT 68Communication with Stakeholders
We are well aware of the significant impact that various Actively listening to and responding to the needs of stakehold-
stakeholders have on Willfar Information's development. ers is key to our stable development. We have established a
Through systematic organization and analysis we have identi- diversified range of communication channels to proactively
fied 8 major stakeholder groups including the government listen to the voices of all parties. Meanwhile we integrate the
shareholders customers employees suppliers industry feedback we collect into our strategic planning and day-to-day
associations the general public and other partners. decision-making to ensure that our actions align with the expec-
tations of stakeholders.Stakeholders Stakeholder Concerns Communication Channels
Compliance with Laws & Regulations
Project Collaboration
Anti-Corruption & Business Ethics
On-Site Visits and Inspections
Government Employee Rights Protection Work Reports
Occupational Health & Safety
Exchange Activities
Waste & Emission Management
Protection of Investors' Rights & Interests Annual General Meeting (AGM)
Compliance with Laws & Regulations Investor Conference
Shareholder Sustainable Products & Solutions Information Disclosure
Innovation and R&D Telephone & Email Communication
Communication with Stakeholder
Quality Customer Service
Product Quality & Safety Visits & Exchanges
Client Sustainable Products & Solutions Satisfaction Surveys
Data Security & Privacy Protection Customer Service Hotline
Climate Change Response
Employee Benefits & Compensation Labor Union
Employee Rights Protection Staff Congress
Employee
Employee Training & Development Corporate Culture Activities
Occupational Health & Safety Employee Training
Optimization of Supply Chain Management
Supplier Visits & ExchangesProduct Quality & Safety
Bidding
Anti-Corruption & Business Ethics
Innovation and R&D
Industry Association Product Quality & Safety Industry Exchanges
Optimization of Supply Chain Management
Commitment to Public Welfare and Charity Information Disclosure
Compliance with Laws & Regulations
Society Company Official Website
Waste & Emission Management Community Activities
Resource Use & Energy Consumption
Product Quality & Safety
Other Partners Sustainable Product & Solutions Information Disclosure
Innovation and R&D Company Official Website
WILLFAR INFORMATION
2024 ESG REPORT 69Materiality Issue Identification
We invited stakeholders to participate in the issue assessment and sought their suggestions on our sustainability efforts. By analyzing
the survey results and in alignment with the Company's operational realities and development plans we constructed a dual-materiali-
ty issue analysis matrix. Furthermore based on the assessment outcomes we will develop corresponding action plans to effectively
address the concerns of stakeholders.Materiality Issue Identification Process
We analyzed the macro environment and policy trends reviewed the company's ESG
ESG Issue Identification practices studied best practices within the industry consulted expert opinions and
identified 21 material ESG issues based on the principle of double materiality.We designed questionnaires to collect opinions and suggestions from all parties through
Stakeholder Survey surveys and face-to-face interviews to understand the concerns and expectations of
different stakeholders.Materiality Assessment We integrated feedback from both internal and external stakeholders 11 highly material topics and 10 moderately material topics were identified through expert assessment and
of Issues a matrix was created.Materiality Issue Analysis Matrix
01 Resource Use and Energy Consumption 10
02 06Sustainable Products and Solutions 1708
03 Responding to Climate Change 07 01
04 Waste and Emissions Management 20
05 Biodiversity Conservation 1804
06 03 09Protection of Employees' Rights and Interests 11 02
07 Employee Benefits and Compensation
08 Product Quality and Safety 12
09 Innovation and R&D
10 Occupational Health and Safety 2114 19
11 Employee Training and Development 05
12 Quality Customer Service
13 Data Security and Privacy Protection 13
14 Optimization of Supply Chain Management 15
15 16Contributing to Rural Revitalization
16 Commitment to Public Welfare and Charity
17 Compliance with Laws & Regulations
18 Communication with Stakeholders
19 Protection of investors' rights and interests
20 Party's Role in Guiding
21 Anti-Corruption and Business Ethics Financial Impact Materiality
WILLFAR INFORMATION
2024 ESG REPORT 70
Sustainability Impact MaterialityWillfar Information will continue to benefit every city
every community every enterprise and every household
with our products technology and services.WILLFAR INFORMATION
2024 ESG REPORT 71Appendix
Key Performance Data
Environmental Performance Table
Performance Indicators Unit Value in 2024
Energy Consumption
Total energy consumption KWh 6738053.40
Energy intensity KWh/10000 yuan of annual revenue 24.55
Gasoline L 9703.87
Diesel L 1403.12
Natural Gas m3 74545.24
Total electricity consumption KWh 5896734.16
Purchased electricity KWh 4990634.83
Photovoltaic electricity generation KWh 906099.33
Greenhouse Gas Emission
Greenhouse gas emissions (Scope 1) tCO2e 217.67
Greenhouse gas emissions (Scope 2) tCO2e 2846.16
Total GHG emissions (Scope 1 + Scope 2) tCO2e 3063.83
Greenhouse gas emission intensity tCO2e/10000 yuan of annual revenue 0.01
Water Consumption
Total water consumption Tonne 207938.78
Water consumption intensity Tonne/10000 yuan of annual revenue 0.76
Emissions Management
Environmental investment 10000 yuan 28.69
Wastewater COD concentration mg/L 28.52
Wastewater BOD5 concentration mg/L 6.81
Ammonia nitrogen concentration in wastewater mg/L 16.62
Total phosphorus concentration in wastewater mg/L 1.67
Waste particle concentration mg/m3 0.25
Non-hazardous waste Tonne 132
Non-hazardous waste recycling rate % 91.48
Hazardous waste generation (tin slag) Tonne 10
Hazardous waste recycling rate % 98
WILLFAR INFORMATION
2024 ESG REPORT 72Social Performance Table
Performance Indicators Unit Value in 2024
Employees
Total number of employees Person 859
By gender Male Person 651
Female Person 208
Below 30 Person 223
Aged 31-40 Person 399
By age
Aged 41-50 Person 209
Over 50 Person 28
Bachelor's Degree Person 419
By education Master's Degree Person 207
Doctoral Degree Person 15
Other Person 218
Management Person 68
By occupational R&D and Technology Person 441
Production Person 177
Sales Person 173
Number of new employees 97
By gender Male
Person 78
Female Person 19
Bachelor's Degree Person 50
By education Master's Degree Person 38
Doctoral Degree Person 4
Other Person 5
Employee turnover rate % 4.09
Labor contract signing rate % 100
Employee Training
Total training expenditure 10000 yuan 224
Number of employee training sessions Number 836
Total training hours for employees Hour 40223
Total number of training participants Person-time 36910
Average training hours per employee Hour 46.83
Employee training coverage % 100
By gender
Male Total training hours Hour 30445
Average training hours per participant Hour 46.77
Total training hours Hour 9768
Famale
Average training hours per participant Hour 46.96
WILLFAR INFORMATION
2024 ESG REPORT 73Social Performance Table
Performance Indicators Unit Value in 2024
Occupational Health and Safety
Number of participants in safety
production training Person-time 1139
Training hours of safety production Hour 74
Number of safety production
emergency drills Number 12
Number of participants in safety
production emergency drills Person 383
Number of safety production accidents Number 0
Employee occupational health examination rate % 100
Coverage rate of occupational health records % 100
Newly diagnosed cases of occupational diseases Number 0
Product Quality and Service
Product qualificationrate % 99.99
Sampling inspection coverage for materials
and finished goods % 100
Customer satisfaction % 99.95
Complaint handling rate % 100
Suppliers
Total number of suppliers Number 366
Number of new suppliers Number 58
New suppliers selected based on
environmental criteria Number 58
New suppliers selected based on social criteria Number 58
Proportion of suppliers signing integrity
agreements % 100
WILLFAR INFORMATION
2024 ESG REPORT 74GRI Standards Index
Statement of Use Willfar Information Technology Co. Ltd has prepared this report in accordance with the GRI
Standards with the reporting period covering 1 January 2024 to 31 December 2024.GRI Version GRI 1: Foundation 2021
GRI Standards Description Report Section
2-1 Organizational details About Us
2-2 Entities included in the organization's sustainability reporting Introduction
2-3 Reporting period frequency and contact point Introduction
2-4 Restatements of information ?
2-5 External assurance Assurance Report
About Us
2-6 Activities value chain and other business relationships 3.2 Accelerating the Modernization
Transformation of the Energy System
2-7 Employees 4.4 Commitment to People-Centric Approach
2-8 Workers who are not employees —
2-9 Governance structure and composition 1.1 Strengthening Corporate Governance
2-10 Nomination and selection of the highest governance body 1.1 Strengthening Corporate Governance
2-11 Chair of the highest governance body 1.1 Strengthening Corporate Governance
2-12 Role of the highest governance body in overseeing the management of impacts 1.1 Strengthening Corporate Governance
2-13 Delegation of responsibility for managing impacts 1.1 Strengthening Corporate Governance
GRI 2: General 2-14 Role of the highest governance body in sustainability reporting 1.1 Strengthening Corporate Governance
Disclosure 2021
2-15 Conflicts of interest —
2-16 Communication of critical concern Communication with Stakeholders
2-17 Collective knowledge of the highest governance body Preface
2-18 Evaluation of the performance of the highest governance body —
2-19 Remuneration policies 4.4 Commitment to People-Centric Approach
2-20 Process to determine remuneration 4.4 Commitment to People-Centric Approach
2-21 Annual total compensation ratio —
2-22 Statement on sustainable development strategy Preface
2-23 Policy commitments 4.4 Commitment to People-Centric Approach
2-24 Embedding policy commitments Refer to the content in each section
2-25 Processes to remediate negative impacts Communication with Stakeholders
2-26 Mechanisms for seeking advice and raising concerns Communication with Stakeholders
2-27 Compliance with laws and regulations 1.2 Stable and Compliant Operation
2-28 Membership associations About Us
2-29 Approach to stakeholder engagement Communication with Stakeholders
2-30 Collective bargaining agreements —
3-1 Process to determine material topics Materiality Issue Identification
GRI 3: Material
3-2 List of material topics Materiality Issue Identification
Topics 2021
3-3 Management of material topics Materiality Issue Identification
WILLFAR INFORMATION
2024 ESG REPORT 75GRI Standards Description Report Section
About US
201-1 Direct economic value generated and distributed 1.4 Valuing Investor Relations Management
GRI 201: Economic
Financial implications and other risksand opportunities
Performance 2016 201-2 due to climate change 3.1 Practicing Sustainable Operations
201-3 Defined benefit plan obligations and other retirement plans 4.4 Commitment to People-Centric Approach
201-4 Financial assistance received from government ?
202-1 Ratios of standard entry level wage by gender compared GRI 202: Market ?to local minimum wage
Presence 2016
202-2 Proportion of senior management hired from
?
the local community
Preface
203-1 Infrastructure investments and services supported About Us
GRI 203: Indirect
Economic Impacts 2016 2.2 Innovation Leads the Future
203-2 Significant indirect economic impacts 2.3 Promoting Industry Collaboration
GRI 204: Procurement 204-1 Proportion of spending on local suppliers ?
Practices 2016
205-1 Operations assessed for risks related to corruption 1.2 Stable and Compliant Operation
GRI 205:
Anti-corruption 205-2 Communication and training about anti-corruption 1.2 Stable and Compliant Operationpolicies and procedures
2016
205-3 Confirmed incidents of corruption and actions taken ?
GRI 206:
Anti-competitive Legal actions for anti-competitive behavior anti-trust 206-1 1.2 Stable and Compliant Operationand monopoly practices
Behavior 2016
207-1 Approach to tax 1.2 Stable and Compliant Operation
207-2 Tax governance control and risk management 1.2 Stable and Compliant Operation
GRI 207: Tax 2019
207-3 Stakeholder engagement and management of concerns related to tax 1.2 Stable and Compliant Operation
207-4 Country-by-country reporting ?
301-1 Materials used by weight or volume ?
GRI 301: Materials 2016 301-2 Recycled input materials used 3.1 Practicing Sustainable Operations
301-3 Reclaimed products and their packaging materials 3.1 Practicing Sustainable Operations
302-1 Energy consumption within the organization Key Performance Data
302-2 Energy consumption outside of the organization ?
GRI 302: Energy 2016 302-3 Energy intensity Key Performance Data
302-4 Reduction of energy consumption 3.1 Practicing Sustainable Operations
302-5 Reductions in energy requirements of products and services 3.1 Practicing Sustainable Operations
WILLFAR INFORMATION
2024 ESG REPORT 76GRI Standards Description Report Section
303-1 Interactions with water as a shared resource 3.1 Practicing Sustainable Operations
303-2 Management of water dischargerelated impacts 3.1 Practicing Sustainable Operations
GRI 303: Water and
Effluents 2018 303-3 Water withdrawal Key Performance Data
303-4 Water discharge Key Performance Data
303-5 Water consumption Key Performance Data
Operational sites owned leased managed in or adjacent to
304-1 protected areas and areas of high biodiversity value outside ?
protected areas
GRI 304: 304-2 Significant impacts of activities products and services on biodiversity Habitats protected or restored 3.1 Practicing Sustainable Operations
Biodiversity 2016
304-3 Habitats protected or restored ?
304-4 IUCN Red List species and national conservation list species ?
with habitats in areas affected by operations
305-1 Direct (Scope 1) GHG emissions Key Performance Data
305-2 Energy indirect (Scope 2) GHG emissions Key Performance Data
305-3 Other indirect (Scope 3) GHG emissions ?
GRI 305: 305-4 GHG emissions intensity 3.1 Practicing Sustainable Operations
Emissions 2016 305-5 Reduction of GHG emissions 3.1 Practicing Sustainable Operations
305-6 Emissions of ozone-depleting substances (ODS) ?
Nitrogen oxides (NOx) sulfur oxides (SOx) and other
305-7 significant air emissions ?
306-1 Waste generation and significant waste-related impacts 3.1 Practicing Sustainable Operations
306-2 Management of significant wasterelated impacts 3.1 Practicing Sustainable Operations
GRI 306: Waste 2020 306-3 Waste generated 3.1 Practicing Sustainable Operations
306-4 Waste diverted from disposal 3.1 Practicing Sustainable Operations
306-5 Waste directed to disposal 3.1 Practicing Sustainable Operations
GRI 308: Supplier 308-1 New suppliers that were screened using environmental criteria 4.1 Building Sustainable Supply Chain System
Environmental
Assessment 2016 308-2 Negative environmental impacts in the supply chain
4.1 Building Sustainable Supply
and actions taken Chain System
401-1 New employee hires and employee turnover Key Performance Data
GRI 401: Benefits provided to full-time employees that are not
Employment 2016 401-2 provided to temporary or parttime employees
4.4 Commitment to People-Centric Approach
401-3 Parental leave 4.4 Commitment to People-Centric Approach
GRI 402:
Labor/Management 402-1 Minimum notice periods regarding operational changes ?
Relations 2016
403-1 Occupational health and safety management system 4.4 Commitment to People-Centric Approach
GRI 403: Occupational 403-2 Hazard identification risk assessment and incident investigation 4.4 Commitment to People-Centric Approach
Health and Safety 2018 403-3 Occupational health services 4.4 Commitment to People-Centric Approach
Worker participation consultation and communication on
403-4 occupational health and safety 4.4 Commitment to People-Centric Approach
WILLFAR INFORMATION
2024 ESG REPORT 77GRI Standards Description Report Section
403-5 Worker training on occupational health and safety 4.4 Commitment to People-Centric Approach
403-6 Promotion of worker health 4.4 Commitment to People-Centric Approach
GRI 403: Prevention and mitigation of occupational health and safety 403-7 impacts directly linked by business relationships 4.4 Commitment to People-Centric ApproachOccupational Health
and Safety 2018
403-8 Workers covered by an occupational health and safety 4.4 Commitment to People-Centric Approachmanagement system
403-9 Work-related injuries 4.4 Commitment to People-Centric Approach
403-10 Work-related ill health 4.4 Commitment to People-Centric Approach
404-1 Average hours of training per year per employee Key Performance Data
GRI 404: Training 404-2 Programs for upgrading employee skills and transition 4.4 Commitment to People-Centric Approach
and Education 2016 assistance programs
404-3 Percentage of employees receiving regular performance and ?
career development reviews
GRI 405: Diversity 405-1 Diversity of governance bodies and employees 1.1 Strengthening Corporate Governance
and Equal 4.4 People-Centric Approach
Opportunity 2016 405-2 Ratio of basic salary and remuneration of women to men ?
GRI 406: 406-1 Incidents of discrimination and corrective actions taken ?
Non-discrimination 2016
GRI 407: Freedom of
407-1 Operations and suppliers in which the right to freedom of Association and Collective association and collective bargaining may be at risk 4.4 Commitment to People-Centric Approach
Bargaining 2016
GRI 408: Child Operations and suppliers at significant risk for incidents 408-1 of child labor 4.4 Commitment to People-Centric ApproachLabor 2016
GRI 409: Forced or 409-1 Operations and suppliers at significant risk for incidents
Compulsory Labor 2016 of forced or compulsory labor 4.4 Commitment to People-Centric Approach
GRI 410: Security 410-1 Security personnel trained in human rights policies or ?
Practices 2016 procedures
GRI 411: Rights of 411-1 Incidents of violations involving rights of indigenous peoples ?
Indigenous Peoples 2016
Operations with local community engagement impact
GRI 413: Local assessments and development programs ?
Communities 2016
413-2 Operations with significant actual and potential negative
3.2 Accelerating the Modernization
impacts on local communities Transformation of the Energy System4.4 Commitment to People-Centric Approach
414-1 New suppliers that were screened using social criteria
GRI 414: Supplier 4.1 Building Sustainable Supply Chain System
Social Assessment 2016
414-2 Negative social impacts in the supply chain and actions taken 4.1 Building Sustainable Supply Chain System
GRI 415: Public
Policy 2016 415-1 Political contributions ?
Assessment of the health and safety impacts of product
GRI 416: Customer 416-1 and service categories 2.1 Building Excellence in Quality
Health and Safety 2016
416-2 Incidents of non-compliance concerning the health and safety 2.1 Building Excellence in Quality
impacts of products and services 4.2 Customer-Centric Responsibility Practices
417-1 Requirements for product and service information and labeling 2.1 Building Excellence in Quality
GRI 417: Marketing
417-2 Incidents of non-compliance concerning marketing communications 2.1 Building Excellence in Quality
and Labeling 2016
417-3 Incidents of non-compliance concerning marketing communications ?
GRI 418: Customer 418-1 Substantiated complaints concerning breaches of customer
Privacy 2016 privacy and losses of customer data 4.3 Ensuring Information Security
WILLFAR INFORMATION
2024 ESG REPORT 78Independent Assurance Report
WILLFAR INFORMATION
2024 ESG REPORT 79WILLFAR INFORMATION
2024 ESG REPORT 80WILLFAR INFORMATION
2024 ESG REPORT 81WILLFAR INFORMATION
2024 ESG REPORT 82Reader Feedback
Dear Reader
Thank you for taking the time to review Willfar Information’s 2024 Environmental Social and Governance (ESG) Report. To continu-
ously improve our ESG practices and enhance our ESG management standards we sincerely invite you to provide valuable feedback
and suggestions on this report.We kindly request your assistance in completing the related questions in this feedback form and submitting your comments and
recommendations to us via email.Email：tzzgx@willfar.com
Your Information
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Environmental Responsibility □Good □ Fairly Good □ Average Clarity □ High □ Moderately High □ Average □ Moderately Low □Low
Social Responsibility □Good □ Fairly Good □ Average Accuracy □ High □ Moderately High □ Average □ Moderately Low □Low
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WILLFAR INFORMATION
2024 ESG REPORT 83Willfar Information Technology Co. Ltd
Website: http://www.willfar.com
Phone: 0731-88619798
Address: Wasion Science and Technology Park 468 Tongzipo West Road Yuelu
District Changsha City Hunan Province China
WeChat Account
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