2024

Corporate Social

Responsibility (CSR) Report

Joyoung Co. Ltd.About the Report 01

Message from Chair 02

Key Performance 03

01

About Joyoung

Company Profile 07

Company Culture 08

Company Events 09

Honors 10

ESG Management 11

CONTENTS02 03

Compliance Governance Green and Eco-Friendly

Adhering to Stable Development Guarding a Low-Carbon Future

Standardize Corporate Governance 19 Promote Green Operation 33

Strengthen Risk Management 21 Strengthen Energy Conservation and 33

Adhere to Business Ethics 22 Emission Reduction

Practice Responsible Marketing 25 Enhance Environmental Awareness 36

Ensure Information Security 27 Respond to Climate Change 37

Reinforce Party Building 29

0405

Innovation-Led Collaborative Responsibility

Focusing on Customer Experience Driving Progress Together

Innovative Use of Space Technology 45 Partner Management 57

Accelerate Innovation-Driven Development 46 Industry-University-Research Cooperation 58

Protect Intellectual Property 47

Standardize Quality Management 48

Optimize Customer Experience 51

0607

Unity and Cohesion Cooperation and Collaboration

Cultivating Joyoung Elites Building a Better Society

Protect Employee Rights and Interests 61 Joyoung Public Welfare 73

Support Employee Development 65

Safeguard Employee Health 67

Care for Employee Life 70

Index of Indicators 79

Readers Feedback Form 81About the Report

The Reporting Period

The statements herein and the performance reported mainly cover the period from January 1 2024 to December 31 2024 (the

"Reporting Period") and may involve previous years or reflect the policies or practices in 2025.Scope of the Report

This report discloses information on the environmental social and governance responsibilities of Joyoung Co. Ltd. and its 12

subsidiaries. Relevant typical cases are drawn from Joyoung Co. Ltd. and these subsidiaries.Source of Information

The information and data disclosed in this report are derived from the internal official documents statistical reports and annual

reports of Joyoung Co. Ltd. The financial data in this report are presented in RMB. In case of any inconsistency with the financial

statements the latter shall prevail.Company Name

Joyoung Co. Ltd. (hereinafter referred to as "Joyoung" "the Company" or "we/us")

Compilation Basis

01 This report is prepared with reference to the following standards:

2030 Sustainable Development Goals (SDGs) of the United Nations

Global Reporting Initiative Standards (GRI Standards) of Global Sustainability Standards Board (GSSB)

Sustainability Accounting Standards Board Standards (SASB Standards)

China National Standard - Guidance on Social Responsibility Reporting (GB/T 36001-2015)

China Enterprise Reform and Development Research Association - China Enterprise Sustainability Report Guidelines (CASS-ESG 6.0)

Shenzhen Stock Exchange Self-Regulatory Guidelines No. 1 for Listed Companies - Standardized Operation of the Companies

Listed on the Main Board

Report Approval

This report was approved by the Board on March 26 2025.Report Acquisition

This report is provided in electronic form. You may log onto the Company's official website (https://www.joyoung.com) to read the

electronic version of the report. If you have any questions or suggestions about this report please email us at 002242@joyoung.com or call 0571-81639093.Joyoung Co. Ltd. 2024 CSR ReportMessage from Chair

In 2024 Joyoung celebrated its 30th anniversary. Over these three decades we have persevered through challenges

and remained steadfast to our original mission. From "Family Kitchen" to "Charity Kitchen" and then to "Space Kitchen"

we have been committed to bringing a healthy lifestyle to every citizen. Looking back at 2024 both the industry and the

Company faced significant challenges. During this year the small home appliance industry faced adverse factors such as

weakening market demand intensified industry competition and fleeting new market opportunities. At the same time

bolstered and aided by relevant supportive policies from the nation the industry achieved rapid growth in the fourth

quarter consequently leading to a satisfactory conclusion for the year. As a leading brand in China’s small home appliance

industry Joyoung remains customer-centric retail-oriented and innovation-driven continuously creating healthy home

appliances to meet the public’s aspirations for a better life. The Company is committed to optimizing energy usage actively

responding to climate change supporting innovative breakthroughs aiding rural education revitalization and promoting

continuous improvement and joint sustainable development among suppliers. Together with stakeholders we are creating

long-term social value and moving towards a sustainable future.Promote low-carbon environmental protection to achieve and comprehensive capability training. We ensure in-

sustainable green development The Company has depth cooperation with high-quality suppliers who value

continuously improved its environmental management system environmental and social responsibilities driving continuous

strictly adhered to environmental regulations deepened improvement and joint sustainable development among

energy-saving and emission-reduction measures and suppliers. Meanwhile Joyoung maintains close cooperation

enhanced the capability of reverse renewal across the entire with multiple universities and research institutions supporting

chain. In administrative management we have optimized innovative educational practices and engaging in cutting-edge

energy management and in production we have promoted technology exchanges making positive contributions to the

resource recycling. At the same time we have actively vigorous development of industry and Company technologies.responded to climate change by incorporating climate risks

into our management system developing climate change Give back to society and contribute to a happy society with

response strategies and developing renewable energy projects love Adhering to the core value of "concentrating the power of

goodness and creating a better life through health" Joyoung

to increase our energy self-sufficiency. We are also enhancing

actively promotes public welfare projects such as Joyoung

environmental awareness among employees and consumers

Charity Kitchen and Food Education Workshop. In 2024 we

through sustainable advocacy and promoting a green low- 02

completed the construction of 133 charity kitchens bringing

carbon lifestyle contributing our utmost efforts to the national

the total number of Joyoung Charity Kitchen nationwide to

carbon peak and neutrality goals.

1617 which has greatly helped rural schools improve their

Continue to innovate with consumer needs at the core meal service conditions. Additionally we built 52 new food

In 2024 the Company successfully launched the "Space education workshops this year promoting the development

Technology" 3.0 series of products including innovative of food education through optimized space design upgraded

products such as 0-Coating Non-Stick Rice Cooker 40N9U Pro equipment food education courses and teacher training.Space Water Purifier R5P All-in-One Blender Nutrition Master To date we have a total of 306 food education workshops

Y8 Hands-Free Quiet Low-Purine Soy Milk Maker K7 Pro and nationwide. Moreover our Born to the Sun project has

Rapid Brew Wellness Kettle. We are committed to applying cumulatively supported 161 underprivileged children providing

advanced space technologies to small home appliances them with educational and companionship support. The

bringing consumers a healthier and more convenient smart Joyoung Charity Foundation continuously gives back to society

living experience. In 2024 the Company’s total R&D investment through public welfare projects sharing love and strength.was about RMB 360.97 million. Additionally we are always

In 2025 Joyoung will continue to practice the core corporate

consumer-centric. By improving our quality control system

values of "people-oriented teamwork responsibility and

strengthening quality inspection capabilities and enhancing

health". We stay consumer-centric focus on the brand genes

quality training we ensure the delivery of high-quality

of innovation and health and continue to concentrate on

products for consumers. We care for every consumer and have

developing our small home appliance business. In the future

continuously optimized our customer service management

we will work together with consumers employees investors

mechanism providing comprehensive services through multiple

business partners and other stakeholders to continuously lead

online and offline channels. This year customer satisfaction has

the way make breakthroughs and contribute to a path towards

risen to 98.9%.health green and sustainable development.Close collaboration to enhance the contributions of suppliers

and research institutions Joyoung has implemented a robust

supplier admission and evaluation mechanism enforcing strict Chair of the Board of Joyoung Co. Ltd.admission standards and conducting supplier conferences Yang Ningning

Joyoung Co. Ltd. 2024 CSR ReportKey Performance

Environmental

Indicator Unit 2022 2023 2024

Total Greenhouse Gas Emissions

tCO2e 9143.75 8269.49 8398.03(Scope 1 + Scope 2)

Photovoltaic Power Generation kWh 3053413 3419365 3590949

03

Purchased Electricity Consumption

Intensity (Electricity consumption per kWh/RMB 0000 12.43 14.65 17.23

RMB 10000 of revenue)

Water Consumption Intensity (Water

consumption per RMB 10000 of tonne/RMB 0000 0.20 0.20 0.20

revenue)

Joyoung Co. Ltd. 2024 CSR ReportSocial

Indicator Unit 2022 2023 2024

Total Number of Employees person 2832 2577 2342

Percentage of Female Employees % 37 37 38

Number of Employees Participating in

person 382 516 426

Volunteer Activities

Customer Satisfaction % 97.4 97.9 98.9

Cumulative Number of Patents patent 11648 13181 14262

04

Governance

Indicator Unit 2022 2023 2024

Employee Integrity and self-

%100100100

discipline Agreement Signing Rate

Supplier Integrity Cooperation

%100100100

Agreement Signing Rate

New Supplier Information Security

Confidentiality Agreement Signing % 100 100 100

Rate

Joyoung Co. Ltd. 2024 CSR ReportAbout Joyoung

Company Profile 07

Company Culture 08

Company Events 09

Honors 10

ESG Management 11Company Profile

Joyoung Co. Ltd. (002242.SZ) listed on the Shenzhen Stock Exchange in 2008 is a modern

enterprise specializing in the research development production and sales of small home

appliances. In 1994 Joyoung invented the worlds’ first fully automatic household soy milk maker.Over the past 30 years as a leading brand in high-quality small home appliances Joyoung

has adhered to its core DNA of health and innovation and has comprehensively promoted

digital transformation. Centered on customers and oriented by demand the Company tightly

grasps the dual engines of products and channels. Joyoung actively fulfills its corporate

social responsibility and has established the Joyoung Charity Foundation. The Foundation is

committed to developing two core public welfare projects: Joyoung Charity Kitchen and Food

Education Workshop continuously supporting the healthy growth of young people.The Company has always adhered to the brand philosophy of "Healthy and Enjoyable"

empowering the life quality of the citizens with space technology. The brand currently covers

a wide range of small home appliances including soy milk makers high speed blenders rice

cookers air fryers water purifiers electric kettles noodle makers floor cleaners and hair dryers.Hundreds of millions of products are providing convenience to customers’ homes.

07

Joyoung Co. Ltd. 2024 CSR ReportCompany Culture

Brand Vision Brand Mission

Become a respected national brand rep- Joyoung started from the wish of offering a cup of good

resenting self-developed innovation and a soy milk and now it actively advocates a healthy diet for

healthy lifestyle. all our people. Joyoung provides unparalleled high-qual-

ity products and services creating a healthy and tasteful

lifestyle promoting Chinese dietary culture and enabling

our people to enjoy a better and healthier life.Core Values

Respect and care for employees help them to grow and recognize their contributions

People-oriented Be proud of employees' achievements and progress create a just fair and transparent

working environment for them and adhere to the people-oriented philosophy. 08

Encourage teamwork

Teamwork Encourage employees to consciously integrate into the team rely on their team to achieve

personal development and develop an ability and habit of voluntary communicating and

cooperating with their team.Be a responsible enterprise and benefit society

Responsibility Insist on being responsible to customers employees partners and stakeholders and require

employees to be sincere pragmatic and faithful to their promises.Choose health undertakings and make healthy products

Health Regard health as the core quality of our business pursue simplicity efficiency and

standardization and provide employees with a healthy working platform.Joyoung Co. Ltd. 2024 CSR ReportCompany Events

1994

Joyoung invented the world's first fully automatic

household soy milk maker making it easy for

thousands of families to drink homemade cooked soy

milk creating a brand-new industry.

2004

Sales of Joyoung soy milk maker exceeded 1 million units.

2008

Joyoung was successfully listed on the Shenzhen

Stock Exchange (002242.SZ).

2010

Joyoung donated 50 million yuan to set up the "Joyoung

Hope Fund" and launched the Joyoung Charity Kitchen

project.

2014

Joyoung was officially engaged in the first space

kitchen development project for China's space station.

092017

Joyoung acquired 51% shares of SharkNinja (China) and

2020 started a new development model involving not only kitchen appliances but also other household appliances.

Joyoung's sales revenue surpassed 10 billion yuan and

set up the "Joyoung Charity Foundation".

2021

Together with the Tianhe core module the first Joyoung-

made "Space Kitchen" was installed in China's space

station offering healthy water and meals for astronauts.

2023

Joyoung launched "Space Technology" 2.0 series of

new products including 0-Coating Non-Stick Rice

Cooker Less Noisy Blender and Quick & Easy Air

Fryer.

2024

Joyoung celebrated its 30th anniversary and launched

the "Space Technology" 3.0 series of products. For sixteen

consecutive years Joyoung has been awarded the "Most

Influential Small Home Appliance Brand".Joyoung Co. Ltd. 2024 CSR ReportHonors

The 18th China Listed List of Annual

Companies ESG Top 100 Investment-Related

Data of Listed

Companies: Best

Innovation Practice

China Home Appliance Kitchen Appliance

Innovation Achievements: Industry Development

Most Influential Small Conference: All-Round

Home Appliance Brand Blender Pioneer Award

for Joyoung All-in-

One Blender Nutrition

Master Y8

10

Top 100 Service First Prize in Shandong

Enterprises in Zhejiang Province’s New and

Province Old Kinetic Energy

Conversion High-Value

Patent Cultivation

Competition

Top 10 Corporate Charity The First Batch of

Foundations in Zhejiang Digital Economy

(2nd Edition) Industry Innovation

Centers in Shandong

Province

Joyoung Co. Ltd. 2024 CSR ReportESG Management

Joyoung ESG Action Strategy

Joyoung has established an ESG management structure comprising the Board of Directors senior management and a

working group.The Board of Directors is responsible for reviewing

and supervising significant ESG matters formulating

The relevant management policies and strategies.d

Boar

ior Senior management is responsible for assessing the

Sen nt

gem

e materiality and risks of ESG issues to the Company’s

Man

a business and reputation and regularly reporting

these risks and opportunities to the Board of

Directors.Gro

up

g

Wor

kin

The working group is tasked with implementing the

strategies and policies of the Board of Directors

conducting relevant management and reporting

activities and reporting progress to senior

management.

11

Joyoung Co. Ltd. 2024 CSR ReportJoyoung ESG Action Strategy

Corporate Governance Green Operation Space Technology

Risk Management Energy Conservation and Innovation-Driven

Business Ethics Emission Reduction Intellectual Property

Responsible Marketing Environmental Awareness Quality Management

Information Security Climate Change Customer Experience

Party Building

Green and

Eco-Friendly

Compliance Guarding a Low-

Governance Carbon Future Innovation-

Adhering to Stable Led Focusing

Development on Customer

Experience

12

Cooperation and

Collaboration

Building a Better

Society

Collaborative

Responsibility

Driving Progress

Together

Unity and Cohesion

Cultivating Joyoung

Elites

Partner Management Employee Rights and Public Welfare

Industry-University-Research Interests

Cooperation Employee Development

Employee Health

Employee Life

Joyoung Co. Ltd. 2024 CSR ReportStakeholder Communication

Joyoung values the suggestions of stakeholders. We have established a smooth communication mechanism and launched

regular communication through various channels and methods such as the official website media platforms meetings reports

etc. to fully understand the key issues of concern to stakeholders and offer precise responses.Stakeholders Issues Concerned Communication and Response

Operational compliance Standardized governance and prudent operation

Stable performance growth Strive to maintain high-quality development

Protection of shareholders Comprehensive risk management

Full disclosure of information Complete accurate and timely information

Investor relations management disclosure

Shareholders Anti-corruption Sincere and smooth communication with investors

Zero tolerance for corruption and bribery

13

Operational compliance Compliance with laws and regulations

Compliance with regulatory Acceptation of regulatory inspections

requirements Actively implement and ensure proper execution

Government and Response to national

development policies

Regulatory Agencies

High-quality products Innovate and develop high-quality products

After-sale services Provide high-quality and efficient customer service

Customers and Privacy protection Strictly protect customer information

Distributors

Joyoung Co. Ltd. 2024 CSR ReportStakeholders Issues Concerned Communication and Response

Employment and rights Strictly protect the rights and interests of

protection employees

Employee remuneration and Sound salary system

benefits Smooth promotion channels

Career development and Standardize management to ensure employees'

Employees training health and well-being

Employee safety and health

Abundant communication mechanisms and

Democratic communication channels

Supply chain management Transparent procurement and responsible

Honest and friendly cooperation procurement

Supplier assessment

Suppliers 14

Innovative development Participation in industry exchanges

Industry-university-research cooperation

Industry

Low-carbon operation Environmental-friendly factory construction

Environmental protection action Waste treatment

Green workplace

Environment

Social welfare Public welfare donations

Rural revitalization Volunteer activities

Communities and the

Public

Joyoung Co. Ltd. 2024 CSR ReportMateriality Assessment

The Company regularly reviews material issues and conducts materiality assessments through the following steps to ensure that

the assessment results reflect the Company's operations and stakeholders' concerns:

Identification Prioritization Validation

Identify issues that have significant im- Evaluate and prioritize the iden- Validate the identified material

pacts on both the Company and stake- tified issues considering their issues by the Company's execu-

holders based on domestic and interna- importance to the Company and tives and external experts. Adjust

tional ESG disclosure standards United the impact on stakeholders. and form the final material issue

Nations Sustainable Development Goals matrix.stakeholder surveys and the Company's

business development plans.In 2024 considering external regulations and policies as well as stakeholder concerns the Company discussed and assessed

material issues and determined that the results of 2022 still apply to the Company's operations thus continuing with the 15

material issues from 2022. In the report we will provide responses and disclosures for each issue. The issues are as follows:

Product Quality and Safety

Technology R&D and Innovation

15

Customer and Consumer Rights Protection

Business Ethics and Anti-Corruption

Information Security and Privacy Protection Compliance Operation

Intellectual Property Protection

Intelligent Manufacturing and Digitization

Resource Conservation and Renewable

Resource Utilization Supply Chain Management

Carbon Emission Reduction Green Product R&D

The Establishment of an Environmental

Management System Employee Training and Development

Green Workplace

Low Impact on the Company High

Environmental Social Governance

High Impact on stakeholders

Joyoung Co. Ltd. 2024 CSR ReportDimension Issue Impact on the Company

Strictly adhere to laws regulations policies and industry

Compliance operation

standards and manage compliance issues and risks.Prohibit acts of corruption extortion and embezzlement

Business ethics and anti-corruption of public funds refuse to provide or accept improper

benefits and adhere to the principle of fair trade.Governance

Responsibilities Protect the intellectual property rights of the Company Intellectual property protection

itself and others.Information security and privacy Protect the privacy and data security of the Company

protection clients and business partners.Systematically manage the Company's resource utilization

The development of an

and the environmental impact of production and

environmental management system

operational activities.Invest in the research and development of energy-saving

Green product R&D

and low-carbon technologies and products.Resource conservation and Enhance resource utilization efficiency in production and

renewable resource utilization operations and promote the recycling of resources.Environmental

Responsibilities

Achieve the sustainability and environmental friendliness

of the office environment through measures such as

Green workplace

energy conservation water conservation and paperless 16

office.Reduce the use of fossil fuels and invest in as well as

Carbon emission reduction

utilize renewable energy sources.Ensure quality control and usage safety throughout the

Product quality and safety

entire lifecycle of the product.Actively invest in research and development promote

Technology R&D and innovation innovation and improvement in technologies products

and services.Customer and consumer rights Provide high-quality products and services ensuring

protection customer rights and interests.Social Apply advanced technology and digital solutions to

Intelligent

Responsibilities achieve automation intelligence and efficiency in the

manufacturing and digitization

production process.Pay attention to supply chain environmental and social

Supply chain management

risks and build a robust and sustainable supply chain.Provide skill training necessary for career development

Employee training and development and offer diversified career development pathways for

employees.Joyoung Co. Ltd. 2024 CSR ReportCompliance Governance

Adhering to Stable Development

Standardize Corporate Governance 19 Practice Responsible Marketing 25

Strengthen Risk Management 21 Ensure Information Security 27

Adhere to Business Ethics 22 Reinforce Party Building 29SDGs BenchmarkStandardize Corporate Governance

Joyoung continuously improves its corporate governance capacity and strictly abides by relevant laws and regulations such

as the Company Law of the People's Republic of China the Securities Law of the People's Republic of China and the Code of

Corporate Governance for Listed Companies. The Company has established a multi-level management system based on the

Articles of Association and an efficient governance structure consisting of the General Meeting of Shareholders the Board of

Directors the Board of Supervisors and the management team. Joyoung clarifies the responsibilities and authorities of each level

in terms of decision-making supervision and execution to optimize the standardized operation of the Company and effectively

safeguard the rights and interests of the Company and all shareholders.General Meeting of

Shareholders

Strategy Committee

Board of Supervisors

Audit Committee

Board of Directors

Nomination Committee

19

Remuneration and

Appraisal Committee

Management Team

Joyoung Governance Structure

General Meeting of Shareholders

The General Meeting of Shareholders is the highest authority of the Company holding In 2024

the voting right on material issues of the Company's operation. According to the

Rules of Procedure for Shareholders' General Meetings and the Code of Conduct for the number of general meetings of

Controlling Shareholders and Actual Controllers the Company effectively guarantees shareholders held was

the rights and interests of all shareholders. 2

Joyoung Co. Ltd. 2024 CSR ReportBoard of Directors

The Board of Directors is the standing decision-making body which is responsible to the General Meeting

of Shareholders exercising the decision-making power by law. A Strategy Committee an Audit Committee a

Remuneration and Appraisal Committee and a Nomination Committee comprise the Board of Directors. The chairs

of the Company's Audit Committee Nomination Committee and Remuneration and Appraisal Committee are all

independent directors.In 2024

the number of directors of the including independent the proportion of independent

Company’s Board of Directors was directors directors reached

6350%

including female the proportion of independent the number of board meetings

directors directors reached held was

350%5

Board of Supervisors

The Board of Supervisors is the supervisory In 2024

body of the Company and is responsible

to the General Meeting of Shareholders. the number of supervisors the number of meetings of 20

It oversees the directors and other senior of the Company’s Board of the Board of Supervisors

management personnel perform their duties Supervisors was held was

in accordance with the law. 3 5

Management Team

The management team is appointed by the Board of Directors and responsible for organizing and implementing

matters decided by the General Meeting of Shareholders and the Board of Directors as well as overseeing all

business operations of the Company.Joyoung Co. Ltd. 2024 CSR ReportStrengthen Risk Management

Joyoung recognizes the importance of the Company's internal risk management and has formulated the Comprehensive Risk

Management System and the Rules for the Implementation of Comprehensive Risk Management System which divide risk

management into Strategic Layer Planning Layer Operational Layer and Supporting Layer and specify the corresponding

management personnel for each layer. The annual performance assessments of the President Vice President and first-level

department heads have been linked to risk management. This year the Company has further optimized the construction of its

risk management mechanism forming a complete closed-loop risk management process. Through the collaborative efforts of

the four levels the Company can promptly identify assess and respond to various types of risks achieving the dynamic cycle

and continuous improvement of risk management. This effectively ensures the stable development of the Company.Strategic Planning Operational Supporting

Layer Layer Layer Layer

Strategy Planning Product lifecycle IT system

formulation management security and

Monitoring

business project

Execution review execution Channel management

management

Internal control Supply chain

management

External risk

identification Quality and

techonology

management

Basic R&D

21 management

Brand asset

management

Board of Directors Vice President

President

First-level Department Heads

Risk Management Organization Structure

The Company conducts all-round risk control based on seven major processes: risk identification assessment response

responsibility determination implementation review and evaluation meanwhile actively carries out special audits related to risk

management.Joyoung Co. Ltd. 2024 CSR ReportAdhere to Business Ethics

Joyoung strictly abides by laws and regulations such as the Anti-Unfair Competition Law of the People's Republic of China and

the Anti-Money Laundering Law of the People's Republic of China and has formulated the Anti - Fraud Management System

the Audit and Supervision Management System and the Complaint and Suggestion Management System which explicitly

prohibit any behavior concerning embezzlement bribe taking unfair competition fraud and conflict of interest endeavoring to

create a clean operating environment.Business Ethics Governance

We have established a comprehensive business ethics governance structure and mechanism to clarify business ethics

responsibilities at all levels. The audit and supervision department of the Company is responsible for establishing and improving

the anti-fraud management system complaint reporting and investigation mechanism receiving reports of fraud and proposing

handling opinions. Meanwhile the audit and supervision department accepts the supervision of the Board of Directors and guides

each department in the work related to creating an anti-fraud corporate culture and environment. The remaining departments

need to actively cooperate with the audit and supervision department to improve the Company's business ethics governance.Anti-Fraud

The audit and supervision department conducts clue assessments upon receiving fraud leads and establishes a special

investigation team to verify the facts based on the assessment results. Upon completion of the fraud investigation the audit

and supervision department issues an audit report to the human resources department. Upon receipt of the report the human

resources department issues an opinion on the handling of the personnel involved in the fraud and informs the audited unit of the

result. The audited unit recovers the money from the personnel involved within 10 days of receiving the results. At the same time

the legal affairs center conducts a judicial assessment of the facts of the violation and proceeds to the judicial process after the

Company's approval to hold the relevant companies or individuals legally accountable for the fraud.

22

Audit and Supervision

The audit and supervision department carries out regular internal audits and handles identified issues according to the following

procedures:

In 2024

Issues involving management optimization process deficiencies and risk

control are handed over to the audited department for time-limited rectifi- the number of financial and

cation and implementation. The audit and supervision department w0ill track1 management operation audits

and supervise the entire rectification process to ensure effectiveness; executed by the Company was

9

Issues involving dereliction of duty or negligence by management personnel

are transferred to the human resources department for responsibility0 deter-2 the number of special audits on mination and accountability; supervision and management

executed by the Company was

14

Suspected criminal offenses such as embezzlement misappropriation of

funds and corruption are immediately handed over to the legal affairs

center to initiate judicial procedures. Evidence will be legally secure0d and 3

legal responsibilities will be pursued accordingly.Joyoung Co. Ltd. 2024 CSR ReportComplaints and Reporting

The Company sets up multi-channels to receive complaints and suggestions from the Company's employees suppliers distributors

consumers etc. The channels include but are not limited to:

Hotline: 18758173358

WeChat: joyoungtj

Security Mail: jytj@joyoung.com

Address: No. 760 Yinhai Street Xiasha Street Hangzhou Economic and Technological Development Zone

Hangzhou China (Postal Code: 310018) To Audit and Supervision Department

In 2024

the number of complaints and reports received was the follow-up rate reached

245100%

23

The Company adopts a strict protection system for whistleblowers prohibiting anyone from leaking whistleblower information

under any circumstances or taking any form of retaliation against whistleblowers. Violators will be held accountable severely.Business Ethics Training

Joyoung highlights honesty and dedication. We In 2024

conduct employee business ethics training ac-

tively in an effort to promote standard profes- the coverage rate of business the signing rate of the Integrity

sional conduct among employees and prevent ethics training for new employees and Self-Discipline Agreement

the occurrence of any damage to the interests of reached reached

the Company and shareholders. Through business

ethics training activities Joyoung has not only en-

hanced employees' awareness of integrity in their 100% 100%

professional conduct but also strengthened their

compliance awareness and ethical standards pro- the Company actively organized the average training

viding strong support for the Company's healthy business ethics training with hours per person

development. participants more than reached

230025

Joyoung Co. Ltd. 2024 CSR ReportCase Integrity and Compliance Advocacy

In 2024 Joyoung actively conducted its annual integrity and compliance advocacy through a combination of online self-study

and offline instructor-led sessions. The content of the advocacy comprehensively covered the Company’s ethical standards

the red lines of ethical behavior the integrity and self-discipline agreement and specific case analyses related to violations

of compliance requirements. Through case

studies the training helped employees

gain a deeper understanding of regulations

regarding anti-corruption anti-bribery

and anti-monopoly effectively enhancing

their awareness of laws and regulations and

improving their ability to identify such risks.The training also introduced employees to

Joyoung’s anti-corruption communication

channels encouraging them to proactively

report relevant issues to the appropriate

depar tments fur ther promoting the

Company’s integrity culture.Integrity and Compliance Advocacy

Integrity Culture Promotion

24

Joyoung firmly believes that the

building of an integrity culture is not

an overnight task. The Company is

committed to integrating the concept

of integrity into the daily work and life

of employees and actively promotes

the integrity culture through the

Company's WeChat platform "Integrity

Joyoung" WeChat official account

and Joyoung news announcements

etc. Joyoung's brand activities such

as "Joyoung Love Integrity" and "A

Word to Joyoung" have not only been

highly recognized by the Federation of

Industry and Commerce of Qiantang

District but also helped Joyoung

foster a fair transparent and honest

integrity-promoting atmosphere.New Year Integrity Campaign Joyoung International Anti-Corruption

Day Campaign

Joyoung Co. Ltd. 2024 CSR ReportPractice Responsible Marketing

Responsible Marketing Commitment

Joyoung strictly abides by the Advertising Law of the People's Republic of China the Anti-Unfair Competition Law of the People's

Republic of China and other relevant national laws and regulations actively fulfills its commitment to compliance marketing and

strives to provide customers with a better service experience while fully safeguarding their rights to be informed. On the level

of product promotion review the Company has implemented a standardized process through its internal system to conduct

standardized reviews of product detail pages packaging materials nutritional recipes and product promotional videos across all

product categories. This approach effectively reduces the occurrence of false advertising and ensures the overall compliance of

promotional content.Online sales channels

The Company has established the Product Detail Page Management System and the Detailed Rules for Product Detail

Page Management. These regulations require that product promotional language complies with legal provisions and

ensure that technical parameters materials dimensions and other information on product detail pages are consistent

with the actual products. This approach eliminates the transmission of false or fraudulent information to consumers.In 2024 the Company added reward and penalty clauses related to product detail page promotional content in the

Reward and Punishment Management System and the Other Immediate Rewards and Violation Handling Details. These

additions imposed stricter supervision and constraints on the sales behavior of distributors. Additionally the Company

conducts monthly reviews and analyses of complaints related to false advertising further improving any deficiencies

in marketing and promotion. In response to emergencies the Company also handles the issues immediately and

conducts a timely review and analysis afterward.

25

Offline sales channels

The Company provides systematic script training for sales personnel in offline stores requiring that promotional

content must accurately reflect product features and prohibiting exaggeration. For different product series the

Company has developed detailed training materials including training manuals and product introduction scripts. After

the training sales personnel are assessed through examinations to comprehensively evaluate the effectiveness of the

training.Case Compliance Marketing Training

In 2024 Joyoung released eight sets of script training materials for offline sales channels 18 "one-sentence + three-

sentences" scripts 14 product courses and 54 product explanation videos. These resources provided employees with

a wealth of marketing learning materials. Additionally the Company conducted two hair care training sessions three

demonstration skills training sessions and 13 sales skills training sessions to enhance employees' professional capabilities.This year the Company hosted 29 weekly live-streamed meetings with an average attendance of 1195 participants per

session offering employees a timely platform for communication and learning. Meanwhile Joyoung organized 4472

customer training sessions and 44 sales mobilizations throughout the year. Through systematic training activities the

Company improved employees' marketing expertise and further enhanced its reputation in the market. These efforts

provided strong support for responsible marketing and contributed to the steady growth of the Company’s overall business.Joyoung Co. Ltd. 2024 CSR ReportDistributor Management

To better implement responsible marketing the Company has worked closely with its sales channel partners to actively advance

the management of distributors. The Company has signed the Commitment on the Code of Conduct for Partners of Joyoung

Group and the Distribution Agreement with its distributors clarifying the commitments that distributors must adhere to in terms

of consumer rights protection and advertising behavior standards. This ensures the rigor of product promotion and achieves

standardized management of distributor product promotion. In addition the Company has also signed supplementary agreements

with distributors which include the Red and Green Light Assessment System for Distributors and the Channel Order Management

Regulations for Distributors. These agreements further regulate distributor management and assessment maintain brand image

keep channel order and safeguard the legitimate rights and interests of both parties.To promote high-quality development of channel partners the Company has established policies such as the 2024 Marketing BU

Distributor Classification Management System and the 2024 Marketing BU VIP Distributor Classification Management System.These policies aim to provide high-quality services to customers. The implementation of these policies collectively builds a more

standardized channel management system providing institutional support for the standardized implementation of marketing

activities.

2024 Marketing BU Distributor Classification Management System

Every year the Company classifies and manages distributors based on different dimensions. If a distributor violates

regulations during the year liability for breach of contract will be pursued and the corresponding level will be adjusted

downward according to the Distribution Agreement the 2024 Marketing BU Distributor Classification Management System

and the 2024 Marketing BU VIP Distributor Classification Management System. The distributor who violates the principle of

business integrity or financially underperforms during the year will be downgraded to the lowest level and the grade will not

be allowed to be adjusted within half a year. 26

Joyoung Co. Ltd. 2024 CSR ReportEnsure Information Security

Based on the philosophy of "reducing information risks and ensuring stable development of the Company's business" Joyoung

strictly complies with the Cybersecurity Law of the People's Republic of China the Data Security Law of the People's Republic

of China and other related laws and regulations. The Company has established an information security management structure

led by the Information Security Committee and has formulated multiple internal regulations such as the Information System

Launch Management System the Joyoung Information Security Policy the Information Security Incident Management System

and the Personal Information Protection Management System to further improve the Company's information security work and

its stable and sustainable development. This year we updated the Information Security Incident Management System revised

the incident grading criteria based on the impact and severity of information security incidents and refreshed the information

system grading overview to enhance the management of information security incidents.By establishing a systematic information security management mechanism the Company has effectively enhanced its overall

security protection level. In terms of responsibility implementation information security incidents have been incorporated into the

performance evaluation of the first-level director of the information department. The Company established a clear accountability

mechanism to strengthen management responsibilities and ensure the effective execution of security management tasks.The Company has successfully obtained the ISO 27001 information security management system certification and has passed the

supervision and audit by a third-party professional organization during the Reporting Period. Joyoung's intelligent home appliance

platform system has obtained the Level 3 certification for Information System Security Protection. The official website system and

the distributor inventory management system of Joyoung have obtained the Level 2 certification for Information System Security

Protection.In 2024

the number of information security

27 tests conducted was

12

no information security breaches occurred

the rectification rate for high-risk

vulnerabilities was

100%

the signing rate of the Information

Security Confidentiality Agreement with

new suppliers remained at

100%

ISO 27001 Information Security Management System Certification

Joyoung Co. Ltd. 2024 CSR ReportPersonal information protection

When collecting personal information we notify users of the purpose manner scope and rules of

handling personal information to obtain their consent in advance

When using the newly added functions for the first time every user is informed of the new

services provided and the personal information involved through interactive interfaces (pop-ups

alert boxes alert sounds etc.)

Trade secret protection

The Company's trade secrets are classified into top secret confidential and secret based on the

importance and are managed hierarchically

The Company's information department shall conduct domain and password authentication for

secret-related devices such as computers and mobile storage media. The Company’s information

department is responsible for the maintenance of secret-related devices such as computers and

mobile storage media. If the internal department is unable to undertake maintenance qualified

external service providers should be selected for maintenance with confidentiality measures

implemented

The research institute and the R&D department of each BU are responsible for preparing the

"Confidential Area List" which specifies the designated confidential areas the range of personnel

allowed access and the security measures such as access control

Information system deployment

Before the system goes live the project team needs to deploy the Company's unified Interactive

Application Security Testing (IAST) in the system testing environment to conduct vulnerability

scanning and submit the System Information Registration Form and the System Development

Specification – Self-Inspection Report to the security assessment team of the Company’s

information department in accordance with the requirements of the project initiation document 28

The security assessment team carries out a security assessment on the system issues an

assessment opinion and submits the Security Assessment Report

If the system does not meet the security requirements and needs to be rectified the security

assessment team will re-assess and test the rectification results and submit the Rectification Test

Report

Information security precaution

Power and environmental monitoring in the data center core networks and security equipments

are of high availability

To support data recovery conduct data backup in the data center in Qiantang Hangzhou set up

one data backup data center in Xiaoshan Hangzhou and another in Jinan Shandong to ensure

data security with the three centers separately deployed in two cities and select some business

databases for recovery tests every month

Information security training

To enhance the Company's information security safeguards and improve employees' awareness of

information security the Company organized all staff to study the Information Security Guidelines.Additionally a specialized information security training program was conducted for the International

Marketing BU

Joyoung Co. Ltd. 2024 CSR ReportReinforce Party Building

Joyoung upholding Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era has established a party building

activity mechanism with "365" characteristics to strengthen its internal party building foundation.Six Dimensions of Health

Three Mechanisms Five Commitments

Mechanism health

Establish a reward Mind health Become a participant in

incentive mechanism company decision-making

Physical health

Establish a performance Become an executor of

Life health

evaluation mechanism company development

Organization health

Establish a responsibility Become a driver of

implementation Product health company innovation

mechanism

Become a builder of

company culture

Become an opinion leader

of employees

29

Party Building Activity Mechanism with "365" Characteristics

In 2024 under the leadership of the Joyoung Party Committee Joyoung achieved outstanding results in various activities and

evaluations earning 11 corporate honors including the "Strong Party Building Strong Development" Enterprise and the Five-Star

New Economic and New Social Organization Party of 2023. These honors fully demonstrate the solid effectiveness of Joyoung's

party building work which not only injects strong momentum into the Company's healthy development but also explores a party-

led development path with Joyoung's distinctive characteristics through practice."Strong Party Building Strong Development" Five-Star New Economic and New Social

Enterprise Certification Organization Party of 2023 Certification

Joyoung Co. Ltd. 2024 CSR ReportUpholding the principle of "Learning Ideology Strengthening Party Spirit Emphasizing Practice and Building New Achievements"

the Joyoung Party Committee plays a leading role in party building by actively selecting and cultivating outstanding talents

expanding the number of party members and focusing on strengthening party organization construction. Meanwhile Joyoung

Party Committee conducted multiple themed Party Day activities and Party member education programs.In 2024

the number of the themed party education sessions the number of branch party the number of party member

organized by Party Committee was member meetings held was training sessions held was

12124

"Red Boat Reflects the Initial Aspiration Striving in the

Case

New Era" Themed Party Day Activity

In September 2024 to further learn from the spirit of the Third Plenary Session of the 20th Central Committee of the

Communist Party of China and to guide party members to reflect on their original aspirations appreciate the great spirit

of the founding of the Party further strengthen ideals and convictions and refine Party spirit cultivation the Joyoung Party

Committee organized party members and cadres from various branches to visit Jiaxing South Lake for a learning activity.This visit aimed to trace the revolutionary history and pay tribute to revolutionary martyrs.During the visit party members toured the Jiaxing Memorial Hall reaffirmed their Party admission oath explored Huxin

Island and attended a Party lecture titled "Carrying Forward the Spirit of the Red Boat Remaining True to Our Original

Aspiration and Mission". The party members gained a profound impression on the pioneers’ spirit of revolutionary -

"breaking new ground and daring to be the first" the spirit of struggle - "firm ideals and relentless pursuit" and the 30

spirit of dedication -"serving the public good and being loyal to the people". This learning activity elevated the party

members' ideological awareness. By thoroughly studying and feeling the Red Boat Spirit they became more aware of

their responsibilities and missions. With greater enthusiasm and stronger conviction they will commit themselves to their

professional work and contribute their strength."Red Boat Reflects the Initial Aspiration Striving in the New Era" Themed Party Day Activity

Joyoung Co. Ltd. 2024 CSR ReportGreen and Eco-Friendly

Guarding a Low-Carbon Future

Promote Green Operation 33

Strengthen Energy Conservation and Emission Reduction 33

Enhance Environmental Awareness 36

Respond to Climate Change 37SDGs BenchmarkPromote Green Operation

Committed to building a positive healthy high value-added green and environmentally-friendly household appliance brand

Joyoung strives to integrate the concept of environmental protection into every aspect of production and operation.Joyoung strictly complies with various laws and regulations including the Environmental Protection Law of the People's Republic

of China the Water Pollution Prevention and Control Law of the People's Republic of China and the Law of the People's Republic

of China on the Prevention and Control of Atmospheric

Pollution and the Law of the People's Republic of China on

the Prevention and Control of Environmental Pollution by

Solid Wastes. We have established a sound environmental

management system which is ISO 14001 certified and is

externally reviewed by a third-party company every three

years. In addition we continue to promote the green

transformation. Recognized by the Jinan Municipal Bureau

of Industry and Information Technology we have been

approved as the fifth batch of green factories in Jinan City. In

2024 the Company did not get involved in any violation of Green Factory in Jinan City

environmental protection laws and regulations or pollution

accident disputes and it did not receive any administrative ISO 14001 Environment

penalty for violating environmental protection laws and Management System Certification

regulations.Strengthen Energy

Conservation and Emission Reduction

Energy Usage Management

33

The Company has established the Energy Consumption and Resource Management System and the Rules for the Use of Public

Area Electrical Facilities in Industrial Parks and other internal policies to regulate the management of energy and resource use.Departments are required to choose environmentally friendly and energy-efficient products whenever possible when selecting

resources. Employees are also encouraged to actively participate in energy-saving and consumption-reduction initiatives with

internal news bulletins reinforcing green office advocacy. The Company conducts regular inspections of energy usage in each

department and reports instances of energy waste. Adhering to the principle of energy conservation the Company continuously

improves energy resource management to minimize negative environmental impacts.Information System Development Resource Management Optimization

Promote digitalization and paperless office Strictly control air conditioning temperature and ensure doors

initiatives by utilizing information systems to and windows are closed when in use

optimize communication and minimize paper Regularly conduct maintenance and repair checks on old air

consumption conditioners

Enhance management of public area air conditioners implement

Green Office Management fully off settings or add location labels while the property

management team enhances inspections simultaneously

Prohibit unauthorized addition or use of high-

power electrical office equipment for any purpose Implement centralized air conditioning control in administrative

other than work buildings

Promote double-sided and black and white Use energy-saving lighting equipment and turn off lights

printing and prioritize electrocommunication and promptly when there is sufficient natural light

online workflows Phase out the old water pumps with large water consumption

Reduce subscription of unnecessary newspaper to Repaire and refurbish leaky pipes to reduce water waste

reduce paper waste Turn off office equipment such as computers during non-office

Set up waste sorting and recycling bins in office to hours

ensure proper classification of waste

Joyoung Co. Ltd. 2024 CSR ReportIndicator Unit 2023 2024

Gasoline consumption liter 44782.70 39955.98

Natural gas consumption cubic meters 60259.00 56252.00

Total direct energy consumption GJ 3753.84 3496.67

Purchased electricity kWh 14081935.00 15248521.00

Self-consumption of new energy

generation kWh 2847145.00 3092029.00

Purchased electricity consumption

intensity kWh/RMB 0'000 14.65 17.23

Energy Consumption Indicators in 2023 and 2024

Indicator Unit 2023 2024

Water consumption tonne 189908.00 178099.00

Water consumption intensity tonne/RMB 0'000 0.20 0.20

Water Consumption Indicators in 2023 and 2024 34

Joyoung Co. Ltd. 2024 CSR ReportEnvironmental Impact Management

Joyoung has established the Solid Waste Management Rules in which each department is responsible for the management of solid

waste from generation to classified collection. Hazardous waste is entrusted to qualified companies for disposal.In addition Joyoung has developed corresponding regulations for waste management taking into account the Company's office

operations. These regulations provide clear guidelines for waste classification. We have placed recycling bins for recyclable waste

kitchen waste and other waste in areas such as employee workstations pantries and other areas. Meanwhile Joyoung regularly

carries out training and advocacy to promote waste recycling in office and advocate green operation.Based on the Hazardous Chemicals Management System Joyoung strictly regulates the procurement transportation use and

disposal of hazardous chemicals and other harmful substances and clarifies the supervision management record-keeping

and reporting responsibilities of employees in all departments and at all levels. The Company makes every effort to minimize

the environmental pollution of hazardous chemicals by adsorbing the volatile organic compounds generated during the use

of hazardous chemicals through activated carbon and sprinklers. Meanwhile we inspect the storage area weekly conduct the

overall inspection on a regular basis and engage a third-party organization in regular exhaust gas testing. Any problems found in

inspections are corrected in a timely manner. All responsible departments have established emergency plans for leakage overflow

equipment failure etc. and organize employees to conduct drills regularly according to the plans.Case Refurbishment Factory for Recycling of Resources

The Company has established refurbishment factories in Shaoxing Zhejiang Province and Jinan Shandong Province

committed to refurbishing recycled products. The factories replace damaged components in the recycled products and

subject the refurbished products to strict quality and performance inspections before reintroducing them into the inventory

for resale thereby promoting resource recycling and reduces the negative environmental impact. In 2024 the refurbishment

factory in Shangyu Shaoxing processed a total of 402000 machines with 325000 successfully renewed and 77000

scrapped resulting in a scrapping rate of 19.15%. The Jinan refurbishment factory processed 286000 machines of which

150000 were successfully renewed and 136000 were scrapped leading to a scrapping rate of 47.64%.

35

Indicator Unit 2023 2024

Total hazardous waste1 tonne 3.98 2.06

Hazardous waste intensity kg/ RMB 0'000 0.004 0.002

Total non-hazardous waste2 tonne 2232.76 635.60

Non-hazardous waste intensity kg/ RMB 0'000 2.32 0.72

Toluene kg 0.50 0.30

Ether kg 0.07 0.05

Dichloromethane kg / 50.00

Trichloromethane kg / 0.10

Acetone kg / 0.05

Wastewater cubic meters 151926.40 142479.20

Emissions Indicators in 2023 and 2024

1 The amount of hazardous waste generated annually varies depending on the specific testing projects.

2 In 2024 the total amount of non-hazardous waste decreased due to capacity adjustment the recycling and reuse business of the refurbishment

factories and the dismantling and sale of the lean pipe material lines from the production lines.Joyoung Co. Ltd. 2024 CSR ReportEnhance Environmental Awareness

The Company places great emphasis on enhancing employees' green consciousness. Through continuous internal campaigns

and discussion sessions we are committed to embedding environmental protection concepts into the corporate culture.In 2024 Joyoung established an energy conservation and emission reduction project team. Utilizing online announcements social

media posts and synchronized online and offline quizzes we integrated low-carbon and environmental protection awareness into

employees' daily lives. Additionally this year the Company organized an industrial park energy-saving and consumption-reduction

communication meeting to convey the Company's overall energy-saving goals to employees. This initiative encourages employees

to start with small actions in their daily work to save resources and reduce waste.Energy-Saving and Consumption-Reduction Communication Meeting Joyoung Electricity

Conservation Campaign

While focusing on enhancing its own low-carbon and environmental protection awareness Joyoung also extends sustainable 36

environmental concepts to consumers. Offline Joyoung guides its consumers towards a more environmental-friendly and healthier

lifestyle through product health campaigns and trade-in programs. For example we highlight the 0-coating inner pot design

of our rice cookers which not only extends product lifespan and reduces resource waste but also avoids potential health risks

associated with coatings demonstrating our dual care for consumers and the environment. Meanwhile we actively conduct old

product recycling and trade-in programs encouraging consumers to dispose of old appliances in an environmentally friendly

manner reducing the environmental burden of e-waste and promoting resource recycling. In 2024 a total of approximately

200000 machines were recycled through trade-in programs. Online Joyoung adds energy efficiency labels to product detail

pages providing consumers with clear references to help them make more environmentally friendly and energy-saving purchasing

decisions. Through these measures Joyoung hopes to jointly practice the concept of sustainable consumption with consumers.Joyoung Energy Efficiency Label Trade-In Programs

Joyoung Co. Ltd. 2024 CSR ReportRespond to Climate Change

Climate Governance

Joyoung promotes ESG governance and performance improvement including climate governance through a three-tiered

approach involving board supervision senior management promotion and working group implementation.The Board as the highest governance and deci-

sion-making body for ESG oversees the Company's

management of climate change risks and opportuni-

ties reviews relevant strategies policies and perfor-

The mance targets.Boar

d

ior n The senior management of Joyoung is responsible Se eme

nt

g for assessing climate-related risks and opportunities

Man

a

determining and implementing the Company's cli-

mate change response strategies formulating annual

up and medium-to-long-term plans and monitoring the

ing

Gro progress of performance targets.Wor

k

37

The working group coordinates joint efforts across

departments regularly reviews and summarizes

progress and reports to senior management on the

completion of phased targets for each item sup-

porting the implementation of the Company's climate

strategies.Risk Management

Joyoung has integrated climate risk into the Company's risk assessment and management system. Departments actively take

measures in their operations to manage and mitigate the impacts of climate risks on business operations. Based on the Task Force

on Climate-Related Financial Disclosures (TCFD) framework the Company focuses on analyzing the impacts of climate change

on the economy society and environment. By conducting an initial inventory of climate risks and opportunities referring to best

practices in the industry and along the value chain and leveraging external expert advice and database analysis Joyoung conducts

scenario analysis. The Company comprehensively identifies key climate risks and opportunities in its business operations and value

chain formulates corresponding risk response strategies and opportunity capture methods and regularly monitors progress in risk

management improvements.Joyoung Co. Ltd. 2024 CSR ReportResponse Strategies

In 2024 Joyoung conducted in-depth research on various information sources market and technological trends to analyze and

compile a list of climate risks and opportunities relevant to the Company. Following the risk and opportunity management process

the Company screened the list and ultimately identified 10 climate risks and opportunities relevant to the Company including 2

physical risks 4 transition risks and 4 climate opportunities. The Company conducted physical risk scenario analyses of climate

disasters under different climate scenarios and time ranges.Assessment Timeframe Climate Scenario Selection3

Baseline

Low-Carbon Scenario：SSP1 NGFS net-zero 2050

2030

High-Carbon Scenario：SSP3 NGFS fragmented world

2050

Physical risks

Climate Extreme weather such as droughts Sustained high temperature sea level rise

change floods and typhoons water scarcity etc.risks

Damage factories office buildings and equipment Lead to an increased need for cooling-related in-

resulting in assets loss; vestments by the Company thereby raising operat-

ing costs;

Cause injuries to employees;

Description During the high-temperature seasons employees

Lead to a shortage of cooling water for the facto- may face heat-related health risks that could impact

ries which may disrupt continuous operations and operational efficiency; 38

potentially lead to increased expenditure on the

procurement of backup water sources; Water scarcity leads to an increase in municipal wa-

ter supply prices thereby raising water usage costs.Disrupt supply chain continuity and stability.Long-term Long-term

Time range

Formulate emergency response plans for natural Integrate climate risks into our risk management and

disasters and constantly improve the emergency strategic planning;

response mechanism for natural disasters;

Adopt more energy-efficient refrigeration equip-

Response Adopt water-saving equipment implement wa- ment to reduce energy consumption and operating

ter-saving retrofits for existing equipment and en- costs;

hance the efficiency of water resource utilization;

Launch water-saving initiatives and upgrade wa-

Actively identify possible asset damage and pur- ter-consuming equipment.chase necessary insurance to mitigate potential

risks.

3 IPCC Sixth Assessment Report's Shared Socioeconomic Pathways (SSP) and the NGFS (Central Banks and Supervisors Network for Greening the Fi-

nancial System) climate scenarios. NGFS an international platform composed of multiple central banks and financial regulators including the People's

Bank of China collaborates with climate scientists and economists to design climate scenarios and analytical models.Joyoung Co. Ltd. 2024 CSR ReportTransition risks

Climate

change Policy and law Technology Market Reputation

risks

Stricter policies and The Company needs to Failure to adequately Stakeholders expect

regulations may in- transition to low-emis- meet consumer de- the Company to set

crease the workload sion technologies and mand for green and and achieve energy

for compliant opera- invest in energy-saving low-carbon products; e f f i c i ency ta rge t s

tions and related lit- and emission-reducing and mitigate climate

igation or claims may technologies. However The frequency of ex- change. Fa i lure to

also rise; there is uncertainty treme weather has a effectively respond to

regarding the return negative impact on stakeholder expecta-

Emission allowances on investment in these supply chain stability tions may affect the

Description and carbon pricing technologies requiring result ing in higher Company's reputation.regulations may affect careful evaluation and raw material costs.the production costs management;

of upstream raw ma-

terials which in turn Failure to timely iden-

leads to higher pro- tify and adopt low-car-

curement costs for the bon technologies may

Company. cause the Company to

fall behind its indus-

try peers in terms of

low-carbon transfor-

mation.

39

Medium-term and Medium-term and Medium-term and Medium-term and

Time range long-term long-term long-term long-term

Closely monitor changes Continue to research Actively develop green Establ ish a regular

in domestic and inter- and apply low-carbon and low-carbon prod- communication mech-

national environmental technology and actively ucts to meet consumer anism to actively re-

laws regulations and engage in industry co- demand; spond to the concerns

policies and respond operation; of stakeholders;

Promote green procure-

Response promptly;

Optimize the mechanism ment and work with sup- Enhance the Compa-

Promote energy saving of attracting cultivating pliers to explore low-car- ny's sustainability and

and emission reduction and retaining technical bon solutions. actively respond to

in the Company's oper- talents and enhance the climate change.ations as well as green Company's R&D capabil-

procurement. ity.Joyoung Co. Ltd. 2024 CSR ReportClimate

change Market Technology Resource efficiency Climate resilience

opportunities

The market de- Research and develop U s e m o re e n e r - Develop or partic-

mand for green green and low-carbon gy-eff ic ient pro- ipate in renewable

and low-carbon materials and tech- duction and office energy projects.products has in- nologies; equipment build-

creased. ings and technology.Expand the Compa-

ny's intellectual prop-

erty reserve.Medium-term and Medium-term and

long-term long-term Short-term Short-term

Time range

Continue to invest in low-carbon technology Actively explore the The cost of renew-

Response R&D develop more innovative green and application of new able energy such

low-carbon products and constantly improve technologies equip- as solar and wind

the technological capabilities and product ment and processes power is expected

competitiveness. to improve resource to keep declining in

efficiency and achieve the future and the

cost reduction and active development

efficiency improve- of renewable en-

ment. ergy projects or the

procurement of re-

newable energy can 40

reduce the costs as-

sociated with energy

use in the medium

to long term.Joyoung Co. Ltd. 2024 CSR ReportKey Climate Risk Scenario Analysis and Response Case

Case Water Scarcity Stress

We conducted short-term medium-term

Establish a comprehensive water management system to

and long-term analyses of the physical

strictly monitor and manage water usage in the production

risks facing our Company with a particular

process eliminating water wastage from leaks and other

focus on water scarcity stress. Water

avoidable sources.scarcity could lead to increased municipal

water prices raising our operational

costs and constraining our production Optimize existing production processes to reduce water

capacity thereby affecting normal business consumption during manufacturing.operations. We assessed the potential risks

for our office locations and their provinces Prioritize the use of water-efficient components such as

from now until 2050 using two climate high-efficiency water-saving pumps and valves in production

scenarios: low-carbon and high-carbon. and manufacturing to minimize water waste at the source.The analysis concluded that under high-

carbon scenario Joyoung’s office locations

Promote the importance and benefits of water conservation

face a relatively high risk of water scarcity

in the production process through various channels includ-

in the medium to long term. To address

ing brochures and social media platforms to enhance wa-

this risk we have developed a series of risk

ter-saving awareness among production staff.adaptation and mitigation strategies:

Key Climate Opportunity Analysis and Response Case

Case Climate Resilience

41

To reduce dependence on traditional energy sources and

mitigate the risk of energy supply disruptions due to extreme

weather Joyoung is investing in renewable energy projects such

as photovoltaic (PV) systems and energy storage. By increasing

the proportion of renewable energy in our operations we are

committed to reducing carbon emissions and contributing to the

national carbon peak and neutrality goals. We actively explore

the construction of integrated PV and energy storage systems

which not only reduce operational costs but also align with

environmental sustainability goals leveraging the opportunities

presented by climate change. Rooftop PV Power Generation Equipment at the

Hangzhou Campus

In 2024

total PV power generation reached of which the electricity used by Joyoung was

3590949 kWh 3092029 kWh

the surplus fed into the grid was the self-consumption rate achieved

498920 kWh 86%

Joyoung Co. Ltd. 2024 CSR ReportClimate Indicators

Joyoung deeply recognizes the importance of responding to climate change. Through a series of environmental management

measures our greenhouse gas(GHG) emission indicators are as follows:

Indicator Unit 2023 2024

Scope 1 GHG emissions4 tCO2e 238.56 215.67

Scope 2 GHG emissions tCO2e 8030.93 8182.36

Total GHG emissions

(Scope 1 + Scope 2) tCO2e 8269.49 8398.03

GHG emissions intensity

(Scope 1 + Scope 2) tCO2e/RMB 0'000 0.009 0.009

Scope 3 GHG emissions5 tCO2e / 1463792.97

GHG Emissions Indicators in 2023 and 2024

4 Scope 1 and Scope 2 GHG are calculated according to the standards and emission factors of the General Rules for Calculation of the Comprehensive

Energy Consumption (GB2589-2020) and the Guidelines for Accounting and Reporting of Greenhouse Gas Emissions for Other Industrial Enterprises

(Trial). The emission factor of purchased electricity refers to the average grid electricity emission factor of the Announcement on the Release of the

2022 Electricity Carbon Dioxide Emission Factor issued by the Ministry of Ecology and Environment of the People's Republic of China.

5 This year Scope 3 GHG emission data is disclosed in accordance with the Greenhouse Gas Protocol. Scope 3 GHG emissions includes emissions

arising from purchased goods and services (key suppliers) capital goods fuel and energy related activites transportation and distribution waste

business travel employee commuting upstream & downstream leased assets and investments. 42

Joyoung Co. Ltd. 2024 CSR ReportInnovation-Led

Focusing on Customer Experience

Innovative Use of Space Technology 45 Standardize Quality Management 48

Accelerate Innovation-Driven Development 46 Optimize Customer Experience 51

Protect Intellectual Property 47SDGs BenchmarkInnovative Use of Space Technology

With China's continuous exploration and progress in the space domain Joyoung as the developer of China's manned space

kitchen has successfully applied space technology to consumer small home appliances through independent innovation.From the vast universe to thousands of households the launch of the "Space Technology" 3.0 series of products demonstrates

Joyoung's commitment to combining advanced space technology with everyday products providing consumers with healthier

and more convenient lifestyles thereby reflecting Joyoung's relentless pursuit of technological innovation and a healthy living

philosophy."Space Technology" 3.0 Series of Products

Adhering to the brand mission of "Space Technology for a Healthy and Enjoyable Life" Joyoung empowers kitchen innovation and

enhances the quality of life for the citizens. In 2024 during the 30th-anniversary product launch Joyoung introduced several new

products under the "Space Technology "3.0 series including the 0-Coating Non-Stick Rice Cooker 40N9U Pro the Space Water

Purifier R5P and the All-in-One Blender Nutrition Master Y8.The All-in-One Blender Nutrition 0-Coating Non-Stick Rice Cooker The Space Water Purifier R5P in-

Master Y8 features multiple inno- 40N9U Pro features the upgraded corporates aerospace zinc oxide

vative technologies including the "Rice Grain Activation Suspension antibacterial technology strontium

BlenderX grinding system and a Technology" reducing contact mineralization technology instant

frequency conversion brushless between rice and the inner pot. hot high-flow technology and

powerful motor which enhance The inner pot uses 8K mirror-pol- intelligent high-pressure pulse

the smoothness of beverages to ished stainless steel which is cleaning technology. The integra-

85 microns a 6.9-fold improve- smoother and easier to clean. The tion of these technologies effec-

ment over previous models. Ad- dual-core cooling system and tively removes over 150 harmful

ditionally the Y8 is equipped with far-infrared top heating precisely substances from water while re-

the new HuiTong remote sensing control the rice temperature plenishing beneficial minerals for

technology ensuring continuous curve. The rice type is selectable the human body. Additionally it

45 boiling of ingredients at the op- and the taste is adjustable. enables highly efficient self-clean-

timal extraction temperature and ing of the fi lter extending its

increasing protein extraction by lifespan to six years ensuring pure

71% fully releasing nutrients. and healthy water quality. The ad-

vanced water purification technol-

ogy reduces reliance on traditional

bottled water thereby decreasing

environmental pollution caused by

plastic production. Meanwhile the

water purifier minimizes the dis-

charge of pollutants in household

wastewater and improves waste-

water recycling efficiency.All-in-One Blender Nutrition Master Y8 0-Coating Non-Stick Rice Space Water Purifier R5P

Cooker 40N9U Pro

Joyoung Co. Ltd. 2024 CSR ReportAccelerate Innovation-Driven Development

Continuous innovation and R&D are the keys to building a solid technological foundation and achieving rapid growth for

Joyoung. In 2024 we updated and improved the Joyoung Innovation Management System.In terms of innovating the In terms of the evaluation In terms of award

review mechanism process structure integration

It clarifies that the Joyoung Innovation Joyoung has refined the proce- Joyoung has removed the upper limit

Review Committee is led by the Vice Pres- dure into a quantitative scoring on the number of winners to en-

ident of Products as the chairperson with system. Key indicators such as courage participation and adopted

various chief engineers serving as com- innovation market potential a lump-sum bonus payment mecha-

mittee members. Additionally an Innova- and technical feasibility are nism. This model effectively stimulates

tion Management Office has been estab- weighted and calculated to ob- employees' enthusiasm for innovation

lished. The committee members with their tain a weighted score. The final through immediate rewards. The

extensive experience and solid expertise score of a project is determined optimization of the system has sig-

are capable of comprehensively evaluat- by the weighted average of nificantly enhanced employee crea-

ing the elements of innovation projects scores given by multiple evalu- tivity leading to a surge in innovative

and effectively organizing and conducting ators. This approach enhances proposals in areas such as product

relevant activities. This initiative enhances the scientific basis and tracea- design and process improvement

the fairness of review decisions and en- bility of the evaluation process. which in turn provides support for the

sures that projects receive objective as- Company's technological upgrades.sessments.Joyoung consistently prioritizes innovation incentives as key strategic initiatives. We organized a series of events such as

"Innovation Expert Talk" and "Product Innovation Competition". The competition encourages employees to showcase unique

perspectives such as innovative solutions in the design of intelligent control systems for kitchen appliances. Participants are

required to share their experiences in key technological breakthroughs and convey

innovative wisdom through case studies. The Company has established a regular

knowledge-sharing mechanism and periodically holds events like "Innovation

Expert Talk". Internal experts share cutting-edge developments in areas such as

the application of new materials and AI technology research providing in-depth

analysis of innovation methodologies. This not only broadens employees' horizons 46

but also stimulates more innovative ideas. Through systematic development

Joyoung has built a sustainable innovation ecosystem injecting lasting momentum

into product innovation and technological advancement. Innovation Expert Talk

In 2024

the Company's total R&D investment the number of employed R&D staff the proportion of the

was about members was total workforce was

360.97 million yuan 695 29.68%

Winning the Zhejiang Provincial Gold Award and National Second Prize at the

Case

2024 China Innovation Method Competition

Since 2013 Joyoung has implemented TRIZ theory. After a decade of dedicated R&D efforts over 90% of our R&D personnel

have become TRIZ engineers and we have carried out more than 500 TRIZ innovation projects. Since 2022 Joyoung has

actively participated in the China Innovation Method

Competition to validate our innovation achievements

through this platform. In 2024 our project "Quiet Cooking

Without Exhaustion Deliciousness Without Waiting—

Exhaust-Free High-Pressure Cooking Based on TRIZ"

won the Zhejiang Provincial Gold Award and represented

Zhejiang Province in the national finals where it achieved

the outstanding result of a national second prize.Joyoung Co. Ltd. 2024 CSR ReportProtect Intellectual Property

Strictly abiding by the applicable intellectual property (IP) laws and regulations in the place where it operates such as the

Patent Law of the People's Republic of China the Trademark Law of the People's Republic of China the Copyright Law of the

People's Republic of China Joyoung establishes a patent management system and operation mechanism with high-value

patents at the core. The Company continues to improve the Intellectual Property Management System to clarify the procedures

and regulations related to the application protection and maintenance of patents trademarks and copyrights. We implement

intellectual property management through the intellectual property department and at the BU level. The intellectual property

department has a patent department head who is responsible for overall management of the Company's patent applications and

protection. In addition there are patent supervisors and patent engineers in each BU and research institute who are responsible

for handling patent applications and protection for their respective product lines.In the aspects of IP education Joyoung regularly publishes content related to patents and In 2024

IP on its internal official account to disseminate relevant knowledge among employees. This

initiative aims to help employees gain a deep understanding of the importance and basic the number of IP-related training

concepts of IP thereby enhancing their awareness of IP protection. Furthermore we invited sessions conducted was

external experts to carry out offline training to explain IP related knowledge to employees.The Company also requires patent managers to provide special training on IP for R&D 8

personnel to improve their business capabilities through internal communication. Through

continuous IP education and publicity Joyoung has not only strengthened employees' legal

awareness and innovation enthusiasm but also laid a solid foundation for the Company's IP

management and protection efforts.

47

Joyoung Intellectual Property Official Patent Lecture Series

Account Promotion

Joyoung encourages its employees to apply for patents and offers bonus incentives to those who file patent applications. The

Company also conducts an annual Outstanding Patent award for granted patents and provides rewards for important awards.In 2024

the number of the number of the number including design utility

new trademark new software of new patent invention patents patents model patents

registrations was copyrights was applications was

11961392207238947

Joyoung Co. Ltd. 2024 CSR ReportStandardize Quality Management

Quality Management and Control System

We carry out a quality management strategy of "one center one chain and four key points" which means with customer-centered

we adopt a full lifecycle management approach implement four core management key points adhere to product quality and

realize the transformation from customer demand to customer satisfaction.Quality control improvement Demand and risk

of suppliers 04 managementSatisfaction Demand 01

Customer

Assurance in mass-production Development and

t

consistency P03 rod men 02 verification controluct Li anagefecycle M

Joyoung Quality Management Philosophy

48

The Company strictly adheres to the Product Quality Law of the People's Republic of China and the Standardization Law of the

People's Republic of China. To standardize the entire process of quality management we have comprehensively established

over ten regulatory documents including the Food and Food-Related Product Safety Management System and the Routine and

Confirmation Inspection Control Procedures. These measures effectively mitigate quality risks. In this year Joyoung has added

three new quality control regulatory documents: the Product Quality Market Withdrawal/Store Delisting Management System

which mandates the withdrawal of products with quality issues from the market; the Reprocessing Management Mechanism and

Process which sets stricter reprocessing standards for non-conforming products supplied; the Quality Early Warning Management

Standard for Whole Machine Suppliers: Line Stop/Production Halt/Shipping Suspension which regulates the quality early warning

mechanisms for whole machine suppliers helping the Company to promptly identify potential quality hazards and prevent the

escalation of quality issues.Joyoung has successfully passed the ISO 9001 Quality

Management System certification. The Joyoung Testing

Center has obtained the CNAS Laboratory Accreditation

registration as a laboratory under the China Energy

Label Management Center UL collaboration laboratory

certification and qualifications as a social testing resource

development laboratory among other accreditations. Our

domestic products have passed the "China Compulsory

Certification" (CCC) while our export products have

obtained certifications required by local laws and

regulations of the destination countries/regions such as

UL CB TISI etc. All Company products are tested for food

contact safety in accordance with national regulations

and have obtained the relevant test reports. ISO 9001 Quality Management CNAS Laboratory

System Certification Accreditation Certification

Joyoung Co. Ltd. 2024 CSR ReportQuality Management and Control Procedure

Joyoung has always been committed to comprehensive quality management and control covering every stage of the product

lifecycle. We have established and continuously upgraded relevant internal control systems such as the Product Development IPD

Process and the GTM Process Management System implementing integrated product development (IPD) and go-to-market (GTM)

procedures to strictly control product quality at key stages of the product development lifecycle such as new product quality

management and supplier quality control. In addition the Company has also established product recall management processes for

products that have been launched. This ensures that the entire process from market introduction to end-of-life is conducted with

high quality and standards safeguarding the Company's reputation and brand image.IPD Procedure

IPD procedure adopts a matrix-based organizational structure to supervise the operation of a project and realize quality

monitoring throughout the product development process. In the meantime a technical expert committee (composed of senior

experts of the Company and technical leaders of relevant departments) is established as a company-level technical authority to

coordinate related work provide technical support for product BU realize R&D resource sharing and ensure the implementation of

technology-driven product strategy.GTM Procedure

GTM procedure is interlocked with IPD procedure of product development to ensure that new products achieve rapid scaling upon

market launch. The process standardizes the whole-process management of a product throughout its product life cycle improves

concrete management and operation methods and builds a mechanism for the creation of billion-level-selling products.Voluntary Product Recall Management

To ensure timely recall management of defective products the Company has set up a In 2024

defective product expert group and a recall management group. The defective product

voluntary recall procedure consists of three main stages: information collection defective the number of defective products

49 product recall and responsibility tracing. The expert team is responsible for evaluating recall incident occurred was

and analyzing the suspected recalled products identifying whether there are defects and

reporting the identification results to the recall management team. The recall management 0

group is responsible for product investigation and analysis at the company level and

determines whether to carry out product recall according to the product assessment results

issued by the expert group. At the same time the Company has also set a management

goal of "maintaining the number of product recalls due to quality issues at zero".Quality Inspection Capability

On the foundation of a robust quality control process the Company continuously enhances

its quality inspection capabilities. We focus on improving the professionalism of our testing

personnel and implementing dynamic tracking of test center standards. We promptly follow

up on the interpretation and method validation of newly released standards. Additionally

we carry out activities such as equipment matching validation metrological calibration

and interim verification to ensure reliable inspection capabilities. In 2024 we updated

approximately 16 national standards. Joyoung also regularly participates in proficiency

testing and laboratory comparison activities each year to ensure consistency of test results

with those of other third parties and to meet relevant requirements. Furthermore we have

strengthened the assessment of suppliers to ensure product quality and achieve full-

process tracking from raw materials to finished products. In 2024 we promoted 34 types

of online inspection and error-proofing fixtures among 35 suppliers achieving an overall

deployment rate of 96.26%. This year the "Research and Application of Key Technologies

for the Lifecycle Chemical Safety Monitoring and Risk Prevention and Control of Joyoung's The First Prize of the Science and

Key Industrial Products" was awarded the First Prize of the Science and Technology Award Technology Award by the China

by the China Inspection and Testing Society. Inspection and Testing Society

Joyoung Co. Ltd. 2024 CSR ReportQuality Control Training

To strengthen the foundation of product quality we have provided extensive quality-related training for both employees and

suppliers. The training content covers multiple topics including product knowledge legal and regulatory requirements the use of

quality tools and case studies of failures. Through these systematic training sessions employees and suppliers can gain a deeper

understanding of product characteristics master relevant laws and regulations skillfully apply quality tools and learn from past

failures.Product Quality Training

In 2024 50

the number of department-level quality the total training hours

training sessions organized was approximately

94150

the number of the number of training programs

participants reached provided for suppliers was

359628

the number of participants reached the covering rate of all suppliers was

176478%

Joyoung Co. Ltd. 2024 CSR ReportOptimize Customer Experience

Committed to providing leading services in the small home appliance industry Joyoung upholds "integrity warmth transparency

and happiness" as our core service principle. Through continuously improving the customer service management mechanism

and enhancing the business capacity of the customer service team we expect to provide a better consumption experience for

consumers.Protect Customer Rights and Interests

The Company constantly develops and improves the customer service management framework. We have formulated and regularly

updated internal management policies such as the Process Specification for Application and Revision of Featured Service Policies

for Joyoung Products the Management Regulations on Replacement Instead of Repair Service the Management Regulations for

Handling Market Quality Issues and the Complaint Management Regulations. With a sound service system and processes the

Company is committed to providing high-level professional services for customers and creating an excellent customer service

brand.Complaint Management

The Company has implemented strict measures for managing customer complaints categorizing them into three levels based on

severity (Level 1 being the lowest and Level 3 the highest). This year we have provided detailed supplementary explanations for

complaints related to service timeliness communication and execution within Level 2 complaints. We are committed to achieving

the principle of "rapid response rapid resolution and zero complaints" in our customer complaint handling process. To prevent

and control the negative impact of complaints the Company has established a comprehensive consumer complaint dispatch

management system and formulated the 2024 Customer Complaint Management Regulations to enhance customer service quality.

51

Customer Complaint Handling Responsibilities

Customer

Customer Service District/

Service Customer Service

Department Service Outlet

Manager

Timely report the complaint Monitor service outlets to en- Ensure timely order processing

dispatches and regular service sure timely order acceptance escalate abnormal orders to

orders from all service channels and closed-loop issue resolu- the customer service district/

to relevant departments con- tion and provide guidance on manager and continuously

duct risk assessment and track problems arising during the track unresolved orders until

resolution according to proce- service process. consumer service demands are

dures. fulfilled.Joyoung Co. Ltd. 2024 CSR ReportCustomer Complaint Handling Procedures

Dispatch Order Acceptance Feedback and Closure

After receiving customer re- Accept the order within 30 min- Accept the order within 2 hours

quests through various service utes verify the situation and provide feedback on the han-

channels the customer service ensure 100% contact with the dling recommendations through

department dispatches orders consumer for genuine commu- the customer service system and

to corresponding service out- nication and confirmation of follow up until the consumer's

lets within 30 minutes during the resolution plan after order issue is fully resolved and closed.working hours with system re- acceptance.minders to the customer service

manager and outlets for timely

handling.Through closed-loop management of work orders incentives and penalties for service outlets and customer service districts/

managers in the customer complaint assessment and management and adjustments to dispatch and processing timelines we

have effectively mitigated the negative impact of customer complaints thereby enhancing the overall consumer service experience.In 2024

the number of complaints related to all of which were resolved through communication with the complaint resolution

products and services received was consumers including providing after-sales services such rate reached

64 as repairs returns and exchanges 100%

Product Services 52

Joyoung provides customers with diversified product services including regular services and value-added services to meet their

differentiated needs. Value-added services such as trade-in fulfil customers' demands while promoting the concept of sustainable

consumption encouraging consumers to dispose of their waste in a more environmental-friendly way and reducing the waste of

resources.Regular Services Value-added Services

Strictly comply with the national Five-free services: free maintenance cleaning sanitizing testing water

New Three Guarantees Law of- quality testing.fering a 7-day return policy and

a 15-day replacement policy for Replacement instead of repair service: allowing the free replacement of a

product quality issues along product with quality defects sold within 1 year. For products sold beyond

with a 1-year full machine war- one year replacement is offered based on depreciation (following a 5-year

ranty. Nationwide warranty ser- depreciation principle).vice is provided.Extended warranty for accessories: Selected accessories come with an

SKY series products are eligible extended warranty such as Y951 motor with a 10-year free replacement

for lifetime free cleaning services and B7 motor with a lifetime replacement guarantee.at after-sales service centers.Extended 1-Year warranty: Certain products come with an extended

Free two-way mailing during the repair service beyond one year such as the All-in-One Blender Nutrition

warranty period if the mail-in re- Master Y8 with a 1+2 extended warranty policy and the Hands-Free Quiet

pair service is needed. Low-Purine Soy Milk Maker K7 Pro with a 1+2 extended warranty policy.Joyoung Co. Ltd. 2024 CSR ReportEnhance Customer Experience

Customer Demand Survey

Joyoung customer research department accurately identifies customer needs by segmenting the population

based on criteria such as age gender lifestyle economic income and product ownership. It conducts in-depth

research on the entire journey of different consumers from initial awareness to active searching and ultimately

purchasing focusing on key conversion points along the way. By analyzing these critical touchpoints Joyoung can

better understand consumer psychology and behavior patterns. This insight enables the Company to optimize

product design marketing strategies and service processes to better meet consumer needs. Additionally the

Company conducts online follow-up surveys with consumers through each BU. By analyzing consumer feedback

Joyoung identifies the true needs of customers further enhancing its ability to address their requirements

effectively.Customer Service Management

Joyoung is committed to providing In 2024

customers with comprehensive full-

channel serv ices . Through var ious the number of professional service outlets exceeded

means of communication including self-

service human customer service online 1300

service and offline service we offer a

range of services such as repairs returns the number of repair centers was

exchanges and consultations. In 2024

Joyoung provided over 6.83 million service 29

interactions to consumers through multiple

channels including online platforms provided consumers with face-to-face repair services nearly

online AI chatbots the 400 service hotline

53 and social media customer service. 500000

Additionally Joyoung has established a provided mail-in repair services

standardized and professional customer

service team focusing on enhancing

offline service capabilities. 120000

Furthermore consumers can access a wealth of information through the "Joyoung Home" online platform

including product details user manuals operation videos maintenance guides and recipes. They can also find

after-sales service information such as nearby store locations self-diagnosis for faults service policies fee

standards and self-service repair requests.Joyoung Co. Ltd. 2024 CSR ReportCustomer Satisfaction Improvement

The Company actively carries out customer satisfaction research. The customer satisfaction has been stable at about 95% in the

past ten years and has shown a trend of steady rise in the past three years. In 2024 the satisfaction result for Joyoung's after-sales

service increased to 98.9%. Additionally customer satisfaction with in-store services and after-sales policies also improved. This

indicates that Joyoung's long-standing commitment to high standards and strict requirements in customer management has been

positively recognized by consumers.Changes in Surveyed Customer Satisfaction over the Past Decade

98.9%

96.8%95.9%96.6%96.7%96.5%97.4%97.9%

93.9%94.0%

2015201620172018201920202021202220232024

Note: Satisfaction = overall satisfaction * 0.1 + satisfaction over maintenance at store * 0.4 + satisfaction over local service hotline * 0.3 + satisfaction

over service policy * 0.2

Joyoung Creative Industrial Park Creates a New Experiential

Case

Learning and Research Practice Experience 54

From September to December 2024 Joyoung collaborated with the Qiantang District Education Bureau and the Qiantang

District Youth Activity Center to host the "Qiantang District Primary and Secondary Schools Comprehensive Labor Practice

Week" for nearly 5200 students from 17 schools in Qiantang District. Under the principles of efficiency energy-saving safety

and health the activity combines both entertainment and knowledge including the traditional craft of making soy milk using

ancient techniques and Joyoung intelligent appliance operation practice These immersive and interactive sessions not only

enhanced the students' comprehensive qualities but also deepened their understanding of healthy living while mastering

cooking skills. Joyoung Creative Industrial Park has designed and developed four thematic products namely parent-

child experiences business study tours educational experiences and personalized customizations aiming to establish

an integrated industrial tourism experience that combines sightseeing experiential activities and shopping. Joyoung will

continue to advance digital transformation optimize its diversified service system and strive to create a benchmark base for

industrial tourism. Joyoung strives to provide consumers with a convenient and enjoyable in-depth experience.Joyoung Co. Ltd. 2024 CSR ReportCollaborative Responsibility

Driving Progress Together

Partner Management 57

Industry-University-Research Cooperation 58SDGs BenchmarkPartner Management

A stable and effective supply chain is crucial to the continuous and stable supply of high-quality products to consumers.Therefore Joyoung has formulated a range of internal policies such as the Supplier Introduction Management System the

Supplier Management System Based on Grading the Supplier Quality Management Standard the Supplier Performance

Management System the Supplier Quality Star-Rating Certification Management System and the Supplier Lean Star-Rating

Certification Management System to find and develop high-quality suppliers and standardize supplier management and

performance assessment thus optimizing the supplier pool and jointly building a resilient sustainable and reliable supply chain.Supplier Access

Joyoung actively seeks to cooperate with suppliers that have high quality standards In 2024

and are environmentally and socially responsible. We uphold the principle of fairness

and equality when selecting suppliers. In the phase of access we identify and manage the signing rate of the Integrity Cooper-

the environmental and social risks of potential suppliers and require them to comply ation Agreement and the Commitment

with national laws and regulations and obtain the authoritative certification. Core on the Code of Conduct for Partners of

suppliers are required to obtain ISO 9001 quality management system certification Joyoung Group reached

suppliers of food-grade components are required to pass either FDA Food Safety

Certification or IECQ QC 080000 Hazardous Substance Process Management System

Certification. Suppliers that cause environmental pollution through their production 100%

and operational activities are required to obtain ISO 14001 certification. Meanwhile

suppliers are required to provide government certification documents such as During Joyoung's access reviews no

environmental assessment reports pollutant discharge permits and fire inspection violations related to environmental and

and approval permits. Only suppliers that have passed the necessary qualification social issues were found among suppli-

assessment can proceed to the subsequent evaluation. We comprehensively evaluate ers.suppliers from three dimensions: quality technology and business and select the

best suppliers for cooperation. Before cooperating suppliers are required to read and

57 abide by the Supplier Code of Conduct to ensure that business cooperation complies

with the standards of responsible practice.Supplier Code of Conduct Procurement Integrity Management

The Company requires suppliers to abide by the Sup- The Purchase and Sale Contract signed between the

plier Code of Conduct which clearly specifies provi- Company and the suppliers includes clauses of the

sions on anti-discrimination anti-harassment prohibi- Integrity Cooperation Agreement. The Company im-

tion of child labor and forced labor health and safety plements a zero-tolerance policy for corruption and

environmental protection and other issues to ensure a bribery in any form.reliable and responsible supply chain.Supplier Management Measures

Indicator Unit 2024

Total number of suppliers supplier 270

Tier-one suppliers supplier 123

Key tier-one suppliers supplier 27

Key tier-one suppliers in Mainland China supplier 27

Key tier-one suppliers in other countries and regions supplier 0

Joyoung Co. Ltd. 2024 CSR ReportSupplier Assessment

The Company evaluates and incentivizes suppliers Graded Supplier Management

through multiple assessment dimensions adhering

to the implementation of monitoring mechanisms Grade A: Prioritized procurement. Further cooperation expected.and quality improvement initiatives. According to Grade B: Cooperation will be maintained with instructions provided

the assessment results we divide suppliers into four to support its better development.levels: A B C and D. We adjust procurement measures Grade C: Rectifications are required and semi-annual review is

accordingly and take appropriate measures for expected.incentives or penalties. In the assessment suppliers Grade D: Disqualified for the annual appraisal of outstanding

are rated with stars the suppliers that fail to comply suppliers. Rejected for bidding for a certain period of time or

with relevant regulations and show little willingness permanently.to improve will be terminated and suppliers that

show a willingness to improve will be encouraged. In Supplier Star-Rating

addition the Company carries out supplier sampling

and unannounced inspections from time to time Suppliers are classified into four categories: below three-star three-

to ensure the problem can be timely identified and star four-star and five-star. Suppliers rated below three-star are re-

rectified. In 2024 the Company conducted 3 supplier quired to undergo rectification and those failing to meet the stand-

audits covering 15 key tier-one suppliers and found no ards will be eliminated. Outstanding suppliers are granted certain

violations related to environmental and social issues. preferential policies.Supplier Communication and Empowerment

Joyoung regards communication with suppliers as an important supplier management In 2024

approach. We have provided suppliers with a communication platform for mutual learning the total hours of training

and improvement. The Company organizes the quality meetings supplier conferences and for suppliers reached

training sessions every year. This helps achieve efficient supplier management and provides

a solid guarantee for win-win cooperation. Moreover we focus on mutual benefit with our

suppliers. We carry out technology research and development with excellent suppliers and 303

share the results together and also introduce high-quality manufacturing capabilities from the number of suppliers

suppliers to empower our own production system to achieve common growth. trained was

In 2024 we launched diversified supplier capability upgrade programs aimed at 226

comprehensively enhancing suppliers' capabilities in production manufacturing quality

58

testing planning and delivery. We established a dedicated team to empower suppliers in

areas such as whole machine BOM (Bill of Materials) management monthly capacity reviews

daily material follow-up management daily planning report management and delivery

exception escalation mechanisms. Additionally we developed assessment and incentive

mechanisms for them. This initiative was designed to ensure full-chain alignment of order

planning and delivery tasks enhance the stability of the accessories delivery chain shorten

the preparation cycle for long-cycle materials and improve the on-time delivery performance. Supplier Capability Upgrade Program

Industry-University-Research Cooperation

Joyoung maintains close contact and interaction with universities and research institutions

in the long term. Based on the practice bases established we actively support the

development of innovative practical education internship and learning in universities

and welcome university teachers and students to participate in our internship project and

innovative scientific research project. Guided by the principle of "conducting multi-level

multi-channel multi-form cooperation and achieving practical results" the Company and

the universities give full play to their strengths learn from each other and cultivate high- Joint Research on High-

quality innovative and entrepreneurial talents to achieve mutual progress and development. Performance Bio-based Materials

by Joyoung Ningbo Institute

By the end of 2024 the Company had cooperated with Zhejiang University Southeast of Materials Technology and

University China Jiliang University Zhejiang University of Technology Ningbo Institute of Engineering (CAS) and Zhejiang

Materials Technology & Engineering of Chinese Academy of Sciences (CAS) Hefei Institute of University of Technology over a

Physics Technology & Engineering(CAS) China Electronics Standardization Institute Zhejiang Three-Year Period

Institute of Science and Technology Information Science and Technology Search (Evaluation)

Center Zhejiang Fangyuan Test Group to jointly apply for provincial-level key research and

development projects. These collaborations have facilitated exchanges on cutting-edge

technologies regular internship matching and exploring future research directions.Joyoung Co. Ltd. 2024 CSR ReportUnity and Cohesion

Cultivating Joyoung Elites

Protect Employee Rights and Interests 61

Support Employee Development 65

Safeguard Employee Health 67

Care for Employee Life 70SDGs BenchmarkProtect Employee Rights and Interests

Joyoung always regards employees as the cornerstone of the Company's sustainable development respects and attaches

great importance to the basic rights and interests of all employees. We strictly abide by the Labor Law of the People's Republic

of China the Labor Contract Law of the People's Republic of China and other relevant laws and regulations. We focus on the

growth and development of each employee continuously creating a fair just diverse and inclusive working environment in

order to share development with employees and create a better future together.Equality and Diversity

The Company strictly prohibits the employment of child labor and By the end of the Reporting Period

forced labor actively creating an equal and diverse workplace

environment. We ensure equal pay for equal work between male and

female employees guaranteeing that all employees are not subject to the number of

differential treatment based on personal backgrounds such as religion employed persons with disabilities was

gender age disability etc. We also prohibit any form of discrimination

insults and harassment ensuring that all employees have equal

opportunities in employment training promotion and other aspects. 32

During the Reporting Period the Company did not have any incidents

of employing child labor or forced labor.including males females

The Company continues to implement the Law of the People's Republic

of China on Protection of Disabled Persons and other laws and

regulations. We make proper arrangements for the employment of 24 8

disabled individuals ensuring equal participation of disabled employees

in work and various activities.Fair Recruitment

61

We believe that high-quality talent is a major driving force for the development of the Company. Therefore the Company places

great importance on attracting high-quality talent and mainly posts job vacancies through various channels including the

Company's official website official WeChat account third-party recruitment platforms and offline job fairs. Meanwhile we actively

carry out school-enterprise cooperation with major universities cultivate talents from these universities via J Project6. We assign

internal executives as professional mentors creating a comprehensive internal training mechanism. During the Reporting Period

the Company conducted two major campus recruitment activities: the Spring Recruitment and the Autumn Recruitment. These

activities primarily included online presentations online publicity offline job fairs and open days.

2024 Joyoung Employee

Total number of employees: 2342

Employee Employment

Staff 56.70%

Male 62.34%

Junior management 26.90%

By Gender By Rank Middle management 13.62%

Female 37.66%

Senior management 2.78%

6J Project refers to Joyoung's campus recruitment program.

Joyoung Co. Ltd. 2024 CSR ReportEmployee Employment

29 and below 34.33% Mainland China 99.87%

30-3947.23%

Hong Kong Macau 0.09%

and Taiwan of China

By Age 40-49 16.18% By Region

50 and above 2.26% Other Asia 0.04%

Master degree 11.53% Production staff 20.03%

and above

Sales staff 19.60%

Bachelor degree 60.42% Technicians 29.67%

College degree 20.37% Financial staff 2.56%

By Educational By the Division of

Background Specialized 6.36%

Administrative staff 2.65%

secondary school Labor

and high school Other management 9.31%

staff 62

Below specialized 1.32% Other professional 16.18%

secondary school staff

Male 50.82% Male 62.91%

Employees in

Revenue-Generating Employees in

Positions 7Female 49.18% STEM Positions Female 37.09%

7 STEM stands for Science Technology Engineering and Mathematics. STEM professionals refer to individuals working in positions that involve the

application of knowledge related to science technology engineering or mathematics.Joyoung Co. Ltd. 2024 CSR ReportNew Employees：540

Composition of New Employees

Male 43.15%

By Gender

Female 56.85%

Staff 85.00%

Junior management 12.04%

By Rank Middle management 2.59%

63 Senior management 0.37%

29 and below 51.30%

30-3930.37%

By Age 40-49 18.15%

50 and above 0.18%

Joyoung Co. Ltd. 2024 CSR ReportRemuneration and Benefits

The Company has established the Remuneration Management System to ensure a remuneration system that combines internal

fairness and market competitiveness. Adhering to the principle of "sharing benefits and sharing risks" the Company ensures that

employee salaries are above the local minimum wage and has established a remuneration structure consisting of basic salaries

allowances and incentive bonuses allowing employees to share the Company's development achievements. Meanwhile to

convey the Company’s culture and values and to show its care for employees the Company maintains a 100% coverage rate for

employee social security and medical insurance every year. In addition to providing the legally mandated basic benefits the Welfare

Management System and the Supplementary Provisions of Welfare Management System offer unique benefits such as holiday

benefits shuttle services and educational assistance programs enhancing employees' sense of belonging and cohesion.Basic Benefits Special Benefits

Six types of insurance and one fund (endow- Six types of care visits: birthday/marriage/

ment insurance unemployment insurance maternity/illness/accident/funeral care

employment injury insurance maternity

insurance medical insurance commercial Education sponsorship: encourage employ-

insurance and housing provident fund) ees to pursue further education or profes-

sional certification and provide bonuses

Legal leave (statutory holidays sick leave

marriage leave funeral leave and maternity Festival benefits: provide holiday benefits

leave for female employees etc.) Allowance and subsidies: meal subsidies

Physical examination for all employees Company dormitories and shuttles

High-temperature subsidy

64

Democratic Management

Focusing on the voices of employees and the public we firmly hold that listening

to the opinions of front-line employees is essential for our development. In

September 2024 Joyoung convened its 7th Workers' Congress. At the meeting

the labor union chairman spoke on behalf of the workers while the senior

manager of the remuneration and benefits department spoke on behalf of the

Company. Representatives from human resources performance management

and audit and supervision departments also introduced relevant policies and

systems. During the meeting employees actively provided suggestions on the

th

Company's development plans production and operations and workers' interests. The 7 Workers' Congress of Joyoung

Additionally the Company has formulated the Management Procedures for the

Handling and Feedback of Opinions Suggestions Appeals of Employees to learn

about employees' needs in a timely manner thereby making communication with

employees more efficient.In 2024

the coverage rate of Joyoung's employees represented by independent the number of employees participated in the

labor union or by collective bargaining agreements reached Workers' Congress was

100%140

Joyoung Co. Ltd. 2024 CSR ReportSupport Employee Development

Employee development is the key to our continuous growth. To meet the diversified career development needs

of employees the Company provides two development channels: the management development channel

and the professional development channel. We provide employees with clear performance evaluation criteria

promotion procedures and career path planning.This year we continued to update and revise the Performance Management System the Employee Career

Development Channel Management System and the Cadre Selection and Appointment Management System. We

further clarified performance evaluation levels and definitions updated the definitions and qualification standards

for the management development channel and introduced the "360-Degree Feedback Analysis Form" to enhance

probationary period assessments thereby providing strong support for employees' career development.The Company prioritizes enhancing employees' profes- In 2024

sional skills as a key focus area. By combining online

and offline training we have conducted a wide range the number of employees participated in training was

of employee training activities within the Company to

empower employees to grow together with the Com- 1917

pany. Through multi-level training employees have

improved their capabilities providing a positive driving the average training hours per person reached

force for the Company's sustainable development. 27.75

Case Product Manager Training Camp

The Product Manager Training Camp served as a key position competency training program for Joyoung in

2024. It was designed around the five core competencies required for product managers with customized

65

courses and teaching methods. The program reinforced learning outcomes through in-class and after-

class exercises accelerating employee development. Running from March to December the training

camp had eight sessions with an average

participation of over 120 people per session

covering roles such as product managers

customer research branding and channel

management. This systematic training not only

enhanced employees' professional skills and

job competencies but also provided strong

support for the Company's product innovation

and market competitiveness.Product Manager Traning CampJoyoung Co. Ltd. 2024 CSR ReportCase Diversity Equity and Inclusion (DEI) Training

The Company is committed to safeguarding

the growth and development of new

employees regularly conducting training

activities on diversity equity and inclusion

(DEI). These activities cover core values

such as respecting diverse cultures insisting

on gender equality and employee care. By

the end of the Reporting Period Joyoung

had provided each new employee with 8

hours of training on DEI-related topics.Diversity Equity and Inclusion (DEI) Training

Case Online Learning Platform - Xiaoyang School

66

As Joyoung's online learning platform Xiaoyang School has

always been popular among employees for its convenient

operation user-friendly points redemption activities and

abundant high-quality courses. In 2024 the platform

underwent significant resource integration developing and

retaining over 1200 core courses. It made significant progress

in areas such as the growth of management personnel job

competency and workplace skill enhancement supporting the

successful implementation of the planned training programs.In 2024 over 80% of employees have logged in for learning

forming a strong learning atmosphere within the Company.Online Learning Platform - Xiaoyang School

Joyoung Co. Ltd. 2024 CSR ReportSafeguard Employee Health

Occupational Health and Safety Management System

The Company adheres to the principle of "people-oriented harmonious

management risk reduction and safety and health". We always put the protection

of employees' life health and safety in the first place. We strictly abide by the Law of

the People's Republic of China on Work Safety and the Law of the People's Republic

of China on the Prevention and Control of Occupational Diseases and other laws

and regulations. Meanwhile we have established a sound work safety management

system and formulated internal policies such as the Environmental Factors and

Hazards Sources Control Procedures the Fire Safety Management System and the

Work Safety Education and Training Management System to protect employees'

occupational health and work safety. In 2024 we further strengthened our safety

management structure by appointing dedicated safety officers and clarifying the

responsibilities of the chief safety officer and the safety management department

ensuring that every aspect of work safety was overseen by a responsible individual.Additionally we newly developed the Comprehensive Emergency Rescue Plan

for Work Safety Accidents which provided detailed instructions on emergency

response and safeguard measures to ensure rapid and effective response in case

of emergencies. Joyoung has obtained the ISO 45001 occupational health and

safety management system certification and on this basis further upgrades its ISO 45001 Occupational Health and

occupational health and safety management system. Safety Management System Certification

Health and Safety Measures

67 The Company systematically implements measures for ensuring operational environment safety and employee health and safety

aiming to minimize potential safety hazards and protect the lives of employees.Safety Inspection

The Company's security brigade conducts monthly inspections and confirmation of fire-fighting equipment and also intensifies

the inspection and daily patrol efforts in key areas related to potential hazards. Each department conducts monthly inspections

of departmental organization tidiness cleaning sanitizing safety and discipline (6S). Specific modules such as the chemical

warehouse are inspected and confirmed daily by the responsible department. In 2024 we strictly implemented the primary

responsibility system as required and carried out self-inspection and rectification work for work safety.In 2024

the number of monthly inspections conducted with the number of safety the number of

departmental safety officers and property management was hazards identified was rectified hazards was

126969

the number of fire safety the number of on-site the rectification rate the number of hidden dangers reported

hazards identified was rectifications was reached through daily inspections of this year was

9494100%949

Joyoung Co. Ltd. 2024 CSR ReportHazard Sources Identification Emergency Drills

The Company organizes all departments to identify and The Company carries out fire emergency drills twice a year

evaluate the hazard sources every year. The departments to ensure a calm response and orderly evacuation when a

identify hazard sources in their business activities and take real fire occurs. Meanwhile for possible emergencies such as

corresponding control measures. In case of any changes in a chemical leakage and electric shock relevant departments

department's activities or places the department is required organize corresponding emergency drills.to conduct hazard identification and evaluation accordingly. At

the same time the new employee onboarding training program

has been enhanced to include identification of environmental

factors and hazard sources reinforcing awareness and

education.Related Party Management Special Equipment Management

The Company's external construction party contractor and The Company conducts regular inspections and periodic

other related parties are required to sign a safety responsibility maintenance and verification of special equipment to ensure

commitment letter receive safety education before construction their effective operation.and conduct safety inspections during construction. Relevant

approval procedures are required to manage special operations

such as fire-related work and excavation work.Three-Level Safety Education and Training

New employees are required to attend the three-level safety education and training during the probationary period (the company

level department level and position level). The training content includes the Company's safety regulations hazard identification

use of personal protective equipment (PPE) and fire evacuation procedures.In 2024

the number of workplace the number of the number of work- the number of work- the number of lost

safety training sessions participants was related fatalities was related injuries was workdays due to work-

organized was related injuries was 68

1110120489

Case Fire Evacuation Drill

To enhance employees' fire safety awareness and fire accident response ability in July 2024 the Company organized a fire

evacuation drill. A total of 994 employees participated in the drill which covered evacuation escape room experience and

fire extinguishing exercises. This drill aimed at guiding employees to be familiar with the evacuation routes and helped them

master the use of fire-fighting equipment so as to further safeguard employees' life safety.Through this drill employees not only enhanced their awareness of the importance of fire safety but also improved their self-

protection and emergency response capabilities in case of emergencies. This helps to reduce potential casualties in the event

of a fire and provides strong assurance for creating a safe and stable working environment.Fire Evacuation Drill

Joyoung Co. Ltd. 2024 CSR ReportPrevention and Control of Occupational Diseases

Joyoung places great emphasis on occupational disease prevention ensuring employee health through both personal protection

measures and workplace environment safety improvements. To strengthen employee health protection we have established

the Occupational Health Examination Management Method introducing a fixed procedure for occupational health check-

ups to safeguard employees' health and safety. Additionally the Company requires personnel joining positions with high risk of

occupational diseases to sign a letter of notification before joining the Company informing employees of the various hazardous

situations that may arise and guaranteeing the employees' right to be fully informed. Such employees are required to take physical

examinations for occupational diseases before during and upon the departure from duty. We also establish occupational health

records of employees to track changes in their health status. We require employees engaged in positions with occupational hazards

such as noise to wear earplugs and other personal protective equipment (PPE) before entering the workplace to protect against

occupational diseases.In terms of working environment the Company conducts hazard identification and simultaneous monitoring of harmful factors in all

workplaces annually to ensure a high level of workplace safety. In 2024 Joyoung conducted a safety assessment of its hazardous

chemical usage projects. Based on the assessment report and in compliance with the Zhejiang Province Emergency Management

Regulations and the Law of the People's Republic of China on Work Safety the Company implemented 8 corrective measures.These measures including training relevant responsible persons to obtain primary responsible person certificates and installing

oxygen concentration detection and alarm devices ensure that the safety conditions for the use of hazardous chemicals meet the

current work safety requirements.the Company ensures that the

coverage rate for employment injury

insurance and liability insurance of

safe production remains at

69

100%

By the end of the Reporting Period

the number of cases of occupational

diseases was

0

Employees are required to wear earplugs and other

PPEs during production and testing processes

Joyoung Co. Ltd. 2024 CSR ReportCare for Employee Life

Joyoung is committed to providing a caring and supportive work environment ensuring that every employee feels recognized

and valued in the workplace.At this year’s Employee Conference the Company presented several awards including the Cultural Ambassador Award Co-Growth

Award Innovation Breakthrough Award Management Innovation Award and Technology Innovation Award. Among them the Co-

Growth Award was a special recognition presented on the occasion of the Company's 30th anniversary expressing gratitude to

long-serving employees with nearly 30 years of service. Joyoung always stands alongside its employees continuously enhancing

their sense of belonging and well-being.Technology Innovation Award Management Innovation Award

At the same time the Company places great emphasis on employees' daily lives and physical and mental well-being offering a

variety of recreational and wellness programs such as billiards badminton photography basketball and archery. These activities

help employees relax and maintain a healthy work-life balance.

70

2024 Badminton Competition 2024 Billiard Championship

Case Joyoung Mommy Cabin

Joyoung has long emphasized the care of female employees.In order to meet the needs of nursing mothers for privacy

we built "Mommy Cabin" in Hangzhou and Jinan campuses

to provide safe comfortable and convenient spaces for

breastfeeding female employees. "Mommy Cabin" has all kinds

of supporting facilities including washbasins refrigerators

sofas direct drinking water purifiers with heating disinfection

cabinets to solve the practical problems encountered by female

employees returning to the workplace after giving birth in

order to effectively create a family-friendly workplace.Joyoung Mommy Cabin

Joyoung Co. Ltd. 2024 CSR ReportCooperation and Collaboration

Building a Better Society

Joyoung Public Welfare 73SDGs BenchmarkJoyoung Public Welfare

Blazing with orange light building dreams and growth. For 30 years Joyoung has always adhered to the core values of

"concentrating the power of goodness and creating a better life through health". Relying on its business advantages Joyoung

closely focuses on social issues related to health advocacy nutrition and well-being and carries out public welfare actions to

support the healthy growth of young generation.This year Joyoung Charity Foundation continued to implement the 5A-level standardization requirements and adhered to the

triple-core strategy: driven by innovation focusing on the essence of public welfare projects and commitment to the original

mission maintaining a strong passion for public welfare. In the practice of public welfare projects we adhere to the basic

principles of "targeted assistance + full coverage" and are committed to creating regional or school-level model projects. In

2024 the foundation not only focused on its daily work such as the Joyoung Charity Kitchen Food Education Workshop and

Born to the Sun but also focused on the theme of "30 Years of Joyoung Public Welfare". It planned and implemented a series of

themed activities including Walking in Love Media Public Welfare Trip Food Education Summer Camp Food Education Training

Camp Food Education Outdoor Camp and Employee Public Welfare Trip targeting multiple groups such as Joyoung employees

volunteers beneficiaries donors media public welfare partners and government. These activities connected diverse groups

through public welfare further expanding their influence and appeal while enhancing attention and support from all sectors of

society. Joyoung Charity Foundation successively received honors such as "Outstanding Food Education Practice Case" "Top

10 Corporate Charity Foundations in Zhejiang (2nd Edition)" and "Top 10 Public Welfare Enterprises". In 2024 the Company

established the "Most Beautiful Joyoung Public Welfare Person" award. By honoring and recognizing these individuals the

Company aims to bring more attention to those who have been quietly dedicating themselves to public welfare. This award also

calls on more Joyoung employees to participate in public welfare volunteer services thereby uniting the power of kindness among

all Joyoung employees.From 2008 to 2024 In 2024

the Company's cumulative the number of employees the total hours the average hours of

public welfare investment participated in volunteer of volunteer volunteer service per

exceeded activities was service was person was

73 110 million yuan 426 3467 8

Charity Kitchen

Joyoung Charity Kitchen has always adhered to the concept of

"ensuring good meals for children". Since 2021 Joyoung Charity

Foundation has planned to donate no less than RMB 110 million

over ten years to public welfare projects such as "Joyoung Charity

Kitchen" and "Food Education Workshop". It has also set a goal

of selecting 100 schools in rural areas across the country each

year investing RMB 30000 to 150000 in each school. Through

design infrastructure transformation equipment configuration and

personnel training it aims to build professional environmentally

friendly and efficient standardized kitchens to empower schools'

meal supply capabilities and support the healthy growth of young

generation. In 2024 through joint funding targeted assistance

and disaster relief we successively completed the construction of

133 charity kitchens in 32 counties including Hezhou in Guangxi

Province Zhongxiang in Hubei Province Guzhang in Hunan

Province Pingjiang in Hunan Province Sangzhi in Hunan Province

Kashgar in Xinjiang Province Guanxian in Shandong Province Distribution of Joyoung Charity Kitchen

Lincheng in Hebei Province Wushan in Gansu Province exceeding

the target. By the end of the Reporting Period a total of 1617

charity kitchens have been built nationwide safeguarding the

healthy growth of over 600000 Chinese teenagers.Joyoung Co. Ltd. 2024 CSR ReportIn 2024 Joyoung Charity Kitchen deepened its connection with the national East-West Collaboration Initiative

and targeted assistance mechanisms. With the support of grassroots cadres Joyoung effectively promoted

the improvement of rural school kitchens. Since 2017 Joyoung Charity Foundation has continuously carried

out targeted assistance and pairing work with the Ministry of Finance and the National Intellectual Property

Administration successively establishing county-wide model projects of Joyoung Charity Kitchen in Pingjiang and

Sangzhi in Hunan Province. Additionally under the joint funding with China International Capital Public Welfare

Foundation we upgraded and renovated the kitchen facilities of 12 local rural schools meeting the meal supply

needs of schools throughout the county.

30 Years of Joyoung Public Welfare -The Completion

Case

of the 1500th Joyoung Charity Kitchen

In June 2024 the 1500th Joyoung Charity Kitchen was completed at Changlian Primary School in Pingjiang

County Hunan Province. This high-standard rural school kitchen equipped with electrified appliances

scientifically designed zones and clean floors showcases a new model of rural education revitalization

through charity kitchens. This model is powered by a multi-party collaboration including the Ministry of

Finance's targeted assistance Joyoung's public welfare efforts support from the Education Bureau and

school-level coordination. Joyoung Charity Kitchen brings comprehensive improvements in hardware facilities

to rural schools complementing the national nutrition improvement plan. It helps enhance the nutritional

status of students in rural compulsory education resonating with and advancing the revitalization of rural

education. Moving forward Joyoung will continue to forge ahead to ensure more rural children benefit from

its initiatives.

74

The Completion of the 1500th Joyoung Charity Kitchen

Joyoung Co. Ltd. 2024 CSR ReportFood Education Workshop

The Food Education Workshop is guided by the vision of "empowering

every child with the ability to maintain lifelong health". It aims to enable

educational functions within kitchen settings using cooking as a

teaching medium to promote food education and support the healthy

growth of children and adolescents. The project seeks to promote

traditional dietary culture convey nutritional health knowledge and

cultivate good eating habits and dining etiquette. It also enhances

students' collaborative skills innovative thinking and aesthetic abilities.Joyoung Charity Foundation hopes that through this project every child

will have the ability to maintain a healthy lifestyle for life.In 2024 Joyoung Charity Foundation built 52 new food education

workshops creating regional benchmarks through government

collaboration school specialization and teacher team development

across cities such as Jinan Hangzhou and Zhengzhou. By the end of

the Reporting Period a total of 306 food education workshops have

been established making a positive contribution to the comprehensive

development and healthy growth of young generation. Distribution of Joyoung Food Education Workshop

Joyoung Charity Foundation is dedicated to optimizing and upgrading the four major sponsorship systems for food education

workshops: refining spatial design standards upgrading kitchen equipment launching a new version of the food education

curriculum and establishing a comprehensive teacher empowerment system.Refine spatial design Upgrade kitchen New version of food Comprehensive teacher

standards equipment education curriculum empowerment system

The foundat ion regular ly The foundation main- After two years of collab- The foundation has es-

updates the spatial design tains and updates the oration with the Shan- tablished a three-tiered

standards for food education kitchen appl iances dong Education Press the teacher training system

u s e d a s t e a c h i n g primary school segment including onl ine basic

workshops ensuring that pro- tools. In 2024 seven of the Food Education training offline summer

75 ject schools strictly adhere to s c h o o l s r e c e i v e d Classroom curr icu lum training and domestic and

these guidelines. Additionally equipment upgrades was officially published international study tours.the foundation has initiated and a mechanism was in July 2024 and was im-

the development of a group established to pro- plemented in schools by

vide updates every September.standard for the Construction three years for project

Standards of Cooking Class- schools.rooms in Primary and Second-

ary Schools.In 2024 the number of food education

teachers trained was

291

the cumulative number of food

education teachers trained since the

program's inception was

1186

Joyoung Co. Ltd. 2024 CSR ReportCase 30 Years of Joyoung Public Welfare -Food Education Teacher Training Camp

In August 2024 Joyoung Charity Foundation successfully held the third and fourth Food Education Teacher Training Camps

in Hangzhou. The training camp adopted a comprehensive training model combining online courses offline intensive

training and real-scenario study tours providing all-around training for food education teachers. The training content

covered understanding food education concepts experiencing food education courses and professional guidance on

curriculum design aiming to promote the application of the Food Education Classroom textbook. Through this training

camp teachers not only enhanced their professional qualities and teaching abilities but also laid a solid foundation for the

promotion and development of food education.Food Education Teacher Training Camp

Case 30 Years of Joyoung Public Welfare - "Bean Fun" Food Education Summer Camp 76

In July 2024 Joyoung Charity Foundation invited over 30 children to participate in the "Bean Fun" Food Education Summer

Camp. The children explored the technological principles behind soy milk makers learned to make soy-based dishes and

conducted field investigations on soybeans. Through hands-on activities they experienced the magical journey from

beans to soy milk. This series of carefully designed activities not only enhanced the children's knowledge and skills but

also fostered personal growth through activities such as culinary sharing sessions letters to the Earth investigation team

meetings and farewell night talks. These activities helped the children develop a positive attitude towards the future."Bean Fun" Food Education Summer Camp

Joyoung Co. Ltd. 2024 CSR ReportBorn to the Sun

Since 2022 Joyoung Charity Foundation has partnered with the Zhejiang Women and Children's Foundation to launch the Born to

the Sun project. This initiative aims to support children without parental care and socially dispersed orphans by providing them with

financial aid and companionship. It seeks to enhance these children's self-protection abilities survival skills and social interaction

abilities thereby promoting social harmony and progress.In 2024

the number of new the cumulative number of children in difficult including children children in

parings added was circumstances supported through this project was in primary school middle school

261617357

children in high the number of rapidly developing districts and counties the cumulative participants received

school including Lishui Quzhou and Taizhou was assistance under the project was

3111187

Case "Heart Like Blooming Flower Born to the Sun" Micro Wish Initiative

77

In January 2024 Joyoung Charity Foundation in collaboration with Zhejiang Women and Children's Foundation launched

the "Heart Like Blooming Flower Born to the Sun" micro wish initiative. This event invited Joyoung employees to become

guardian angels for 158 children facing adversity delivering the first blessings of the Chinese New Year. With the assistance

of local social organizations Joyoung charity team promoted traditional local festival culture with activities such as making

zongzi (rice dumplings) tangyuan (glutinous rice balls) and ciba (sticky rice cakes) with the children. These activities not

only provided the children with the joy of hands-on creation but also allowed them to experience the warmth of home

through traditional customs. This event brought warmth and care to these children showing them the concern and support

of society. It also gave Joyoung employees a strong sense of happiness and fulfillment through their participation in public

welfare."Heart Like Blooming Flower Born to the Sun" Micro Wish Initiative

Joyoung Co. Ltd. 2024 CSR ReportWalking in Love

We believe in the power of small acts of kindness and even a small effort can make a difference. In May 2024 the "Walking in Love"

charity initiative was held simultaneously in Hangzhou and Jinan. Co-organized by multiple departments including the Shandong

Provincial Committee's Social Work Department Jinan Municipal Publicity Department Jinan Municipal Social Work Department

and Zhejiang Women and Children's Foundation the event celebrated the 30th anniversary of Joyoung's public welfare efforts. The

"Walking in Love" charity initiative has become an important bond and bridge between the foundation donors beneficiaries and

volunteer partners.Case 30 Years of Joyoung Public Welfare - The "Walking in Love" Charity Initiative 78

In May 2024 the "Love Fills Spring City Volunteering Together" volunteer service initiative marking the 30th anniversary of

the Joyoung public welfare initiative was launched with great enthusiasm. The event featured two routes: a family-friendly

route (7-kilometer) and a fun route (15-kilometer). The "Walking in Love" charity initiative adopts an outdoor public welfare

model combining "sports + charity". It aims to allow participants to experience the vitality of exercise while accumulating

charity energy points enabling individuals to contribute to providing nutritious and hygienic meals for children in rural

areas supporting their healthy growth. With unwavering steps we strive to create sustainable change. "Walking in Love"

charity initiative will leave its footprint across the nation."Walking in Love" Charity Initiative

Joyoung Co. Ltd. 2024 CSR ReportIndex of Indicators

Contents GRI CASS-ESG 6.0 UN SDGs

About the Report 2-22-3 P1.1P1.2

Message from Chair 2-22 P2.1A1

Key Performance 2-142-29 A2

About Joyoung

Company Profile 2-12-6 P3.1P3.3

Company Culture P3.2

Company Events

Honors

ESG Management 2-142-162-293-13-2 G1.1G1.3

Compliance Governance Adhering to Stable Development

Standardize Corporate

2-92-122-132-27

Governance

Strengthen Risk

Management

Adhere to Business

79 2-27205-2418-1 G2.1Ethics

Practice Responsible

2-27417-1

Marketing

Ensure Information

S3.4

Security

Reinforce Party Building

Green and Eco-Friendly Guarding a Low-Carbon Future

Promote Green

2-27 E2.4

Operation

Strengthen Energy

302-1302-3302-4303- E2.1E2.2E3.1

Conservation and

4303-5306-3 E3.2E3.3

Emission Reduction

Enhance Environmental

Awareness

Respond to Climate 201-2305-1305-2305-

E1.1

Change 3305-4

Joyoung Co. Ltd. 2024 CSR ReportContents GRI CASS-ESG 6.0 UN SDGs

Innovation-Led Focusing on Customer Experience

Innovative Use of Space

S2.1

Technology

Accelerate Innovation-

S2.1

Driven Development

Protect Intellectual

2-232-242-27417-1

Property

Standardize Quality

2-27 S3.3

Management

Optimize Customer

418-1 S3.3

Experience

Collaborative Responsibility Driving Progress Together

2-27308-1408-1409-1

Partner Management S3.1

Industry-University-

Research Cooperation

Unity and Cohesion Cultivating Joyoung Elites

80

Protect Employee Rights 2-72-192-27201-3401-1

S4.1

and Interests 401-2401-3405-1

Support Employee

404-1404-2 S4.3

Development

403-1403-2403-3403-5

Safeguard Employee

403-6403-7403-84039 S4.2

Health

Care for Employee Life 401-2

Cooperation and Collaboration Building a Better Society

Joyoung Pulic Welfare 203-1203-2 S1.1S1.2

Index of Indicators A3

Readers Feedback Form A6

Joyoung Co. Ltd. 2024 CSR ReportReaders Feedback Form

Dear reader

Delighted to make your acquaintance.Thank you for taking time out of your busy schedule to read the 2024 Joyoung Co. Ltd. Corporate Social Responsibility

(CSR) Report . To provide you as well as other stakeholders with more valuable information and to facilitate the

Company's progress in ESG management we sincerely look forward to your comments and suggestions.Multiple-Choice Questions (Please tick where appropriate)

1. What is your overall assessment of this Report

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2. How are the report's response and disclosure of issues of concern to stakeholders

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3. How do you think Joyoung Co. Ltd. is performing in terms of economic responsibility

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81

4. How do you think Joyoung Co. Ltd. is performing in terms of environmental responsibility

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Joyoung Co. Ltd. 2024 CSR Report5. How do you think Joyoung Co. Ltd. is performing in terms of safety management

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6. How do you think Joyoung Co. Ltd. is performing in terms of employee responsibility

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7. How do you think Joyoung Co. Ltd. is performing in terms of community responsibility

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8. Is the information indicators and data disclosed in the report clear accurate and complete

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9. Do you think the content arrangement and layout design of this report are reader-friendly

□ Yes □ No

10. Open Question

Do you have any comments and suggestions on the fulfilment by Joyoung Co. Ltd. of its environmental social and governance

responsibilities and on this Report 82

Joyoung Co. Ltd. 2024 CSR Report