News Release
Minth Group Released 2023 ESG Report
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On April 29, Minth Group Limited (0425.HK, hereinafter referred to as “Minth Group” or Minth) released its 2023 Environmental, Social and Governance (ESG) report. This report is prepared in compliance with the ESG Reporting Guide in Appendix C2 of the Main Board Listing Rules of Hong Kong Exchanges and Clearing Limited (HKEX). Also, this report is prepared in reference to the UN Sustainable Development Goals (SDGs), the Global Reporting Initiative (GRI) Standards 2021, MSCI ESG Industry Materiality Map for Automotive Parts & Equipment, and Auto Parts Sustainability Accounting Standards (SASB).
In 2023, there are many highlights of Minth Group’s ESG work. In the ESG management, Minth received BBB in MSCI ESG rating and Committed Medal 2023 in EcoVadis. In the environmental aspect, Minth reiterated its 40-50 carbon neutrality goal aligned with Minth Carbon Neutrality White Paper. Furthermore, it achieved 100% coverage of ISO 14001 Environmental Management System in factories and 33 factories certificated ISO 50001 Energy Management System. In the social front, Minth‘s research expenditure reached around RMB 1.4 billion (28% of which was invested in green/clean technologies), and had 412 new patents authorized (30% of which were green/clean technologies). Minth established a digitalized lifecycle quality management system and achieved 100% coverage of IATF 16949 Automotive Quality Management System, and achieved 100% coverage of suppliers received training sessions provided by Minth on quality, cost, service, and delivery. Within the Minth Group, the average training hours per employee were 85 hours, which is significantly higher than peers. Moreover, Minth cares the society and invested RMB 3.447 million in education and community support through the Minth Foundation in 2023. In terms of governance, 3 new members were added to the Minth Group’s Board (including 2 independent non-executive directors), which made the ratio of female directors on the Board reached 44.4%. Last, Minth achieved 100% coverage of Business Ethic Training for employees (including all directors).
Minth Group believes a business model that values both 'Environmental Consciousness' and 'Social Care', so that views ESG improvement as a continuous pursuit. Minth will keep seeking for solutions to environmental challenges through products, technologies, and management initiatives. Minth’s gratitude and responsibility drive it to use what is taken from the society in the interests of the society, inspiring others to embrace the concept of "LOVE" and generate a positive gear effect, bringing true prosperity to all stakeholders and collectively advancing the sustainable development of human society.