SustainabilityReportEnvironmental, Social and Governance Report

Hainan Jinpan Smart Technology Co.,Ltd.

2025

Stock code688676

CONTENTS

nvironmentalLeading a Low-Carbon Journey,Co-Building a Green Frontier

Building a Sustainable Enterpriseon a Carbon-Neutral FoundationDeepening Commitment toEnvironmental ManagementEmpowering the Green Ecosystem

ocialCo-Creating Value throughInnovation for a Shared FutureAchieving Excellence Together withOur StakeholdersShared Vision, Shared Success:

Delivering Measurable OutcomesLeveraging Synergies throughStrategic PartnershipsTargeted Philanthropy Driving RuralRevitalization

overnanceStrengthening Foundations,Enhancing Quality and Efficiency,and Consolidating Governance

Governance in Compliance withLaws and RegulationsUpholding Business Ethics andCompliance

Foreword

About This ReportChairman's StatementAbout UsJinpan Smart Technology" NumbersTell" 2025Cultivating Robust ResponsibilityManagement

Feature

Computing Power as the Cornerstone,Propelling Technology Toward a GrandVisionEmpowering Smart Manufacturing,Forging an Intelligent FutureEmbracing Global Vision, Shaping the Era

Appendixes

Key Performance Indicators

Self-Regulatory Guidelines for ListedCompanies—Sustainability Report(Trial)GRI Standards IndexFeedback FormIndependent Assurance Statement

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

ReportScope

ThisreportcoversHainanJinpanSmartTechnologyCo.,Ltd.anditsaffiliatedcompanies.Forthesakeofconcisenessandclarity,“HainanJinpanSmartTechnologyCo.,Ltd.”willalsobereferredtoas“JinpanSmartTechnology,”“theCompany,”orsimply“We”throughoutthisReport.

DataSource

TheinformationanddatapresentedinthisreportaresourcedfromtheCompany'sannualreports,internalofficialdocuments,internalstatisticaldata,andpubliclyavailableinformation.Unlessotherwisespecified,allamountshereinaredenominatedinRMB.TheBoardofDirectorsisresponsiblefortheauthenticity,accuracy,andcompletenessofthecontentscontainedwithinthisreport.

?TransformingourWorld:

The2030AgendaforSustainableDevelopment(UNSDGs)

?GRISustainabilityReportingStandards(2021)

?GuidelinesNo.1forSelf-RegulatorySupervisiononSTARMarketListedCompaniesoftheShanghaiStockExchange—NormativeOperations?GuideNo.13forSelf-RegulatorySupervisiononListedCompaniesoftheSSESTARMarket—CompilationofSustainableDevelopmentReports

?GuidelinesNo.14ofShanghaiStockExchangeforSelf-RegulationofListedCompanies—SustainabilityReport(Trial)?ApplicationGuidelinesfortheBasicPrinciplesoftheEnterpriseSustainableDisclosureStandards(Trial)releasedbytheMinistryofFinanceofthePeople’sRepublicofChina?CorporateSocialResponsibilityResearchCenteroftheChineseAcademyofSocialSciences’ChinaCorporateSocialResponsibilityGuideFramework(CASS-CSR6.0)?TaskForceonClimate-relatedFinancialDisclosures(TCFD)Recommendations

ReportingGuidelines

TimeRangeThisreportservesasanannualreport,coveringtheperiodfromJanuary1,2025,toDecember31,2025.Toensurecontinuityandcomprehensiveness,certaincontentmayextendbeyondthisreportingperiod.

ExternalVerification

Thereporthasundergoneindependentthird-partyassurancebyateamfromT?VS?DCertificationandTesting(China)Co.,Ltd..Theassurancestatementisappendedhereto.

ThisreportispublishedinbothsimplifiedChineseandEnglishversions.Intheeventofanydiscrepanciesbetweenthetwoversions,theChineseversionshallprevail.ThereportisavailableforaccessanddownloadontheofficialwebsiteofJinpanSmartTechnology(http://www.jst.com.cn).ReportAccess

ContactUs

Ifyouhaveanyinquiries,feedback,orsuggestionsregardingthecontentsinthisreportorJinpanSmartTechnology’ssustainabilityinitiatives,pleasecontactusviaemailatinfo@jst.com.cn.

Thisreportisthe2025SustainabilityReport,alsoservingastheEnvironmental,SocialandGovernance(hereinafter“ESG”)reportofHainanJinpanSmartTechnologyCo.,Ltd.ItaimstodisclosetheCompany’smanagementmeasures,highlightedpracticesandachievementswithrespecttoenvironmental,socialandgovernanceaspectsfortheyear2025.About This Report

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Chairman's Statement

1. Reshaping the Production Paradigm With Intelligent

ManufacturingIn2025,JinpanSmartTechnologyproposedthestrategicvisionof"AdvancingfromDigitalizationtoHolisticIntelligentManufacturing",partneringwithadvantageousindustrypeerstoembarkonadeep,AI-driventransformation.Duringthe"15thFive-YearPlan"period,thecompanywillintegrateArtificialIntelligenceatopitsdigitalfoundation,acceleratingtheupgradetointelligentmanufacturing.ByconstructingtheAIFactorytechnicalarchitecture,builtonadigitalplatformbase,supportedbyacomputingcenter,andutilizingAIagentsascoretools,itwillreshapetheentirevaluechainofR&D,manufacturing,supplychain,andservices.

Intheneweraofsynergybetweenartificialintelligenceandgreen,low-carbondevelopment,technologicalinnovationisnotonlyadriverofgrowthbutalsotheforceshapingresponsibilityandthefuture.Overthepastyear,JinpanSmartTechnologyhasremainedcommittedtointelligentmanufacturingasitscoredriver,continuouslyexploringnewpathwaysforthesynergisticdevelopmentofintelligentandlow-carbonmanufacturing.Wehaveachievedresultsinareassuchascutting-edgeAIDCtechnologiesandnewamorphousalloymaterials,whileacceleratingourglobalstrategy.Amidststeadydevelopmentandcontinuousinnovationbreakthroughs,wearedeeplyawarethattruecompetitivenessliesnotonlyinourtechnology,products,andservicesbutalsoinourongoingcommitmenttoenvironmental,social,andgovernanceresponsibilities.?DrivingtheDualInnovationModel,ReshapingtheAI+Energy

GrowthLandscapeJinpanTechnologydeeplygraspstheera-definingopportunitypresentedbythedeepintegrationofartificialintelligenceandtheenergyrevolution.Guidedbythenationalstrategiesof"buildingastrongenergycountry"and"acceleratingtheformationofnewqualityproductiveforces,"thecompanyproposesitsdevelopmentstrategyforthe"15thFive-YearPlan"period:tosolidifyitsfoundationthroughincrementalinnovation,forgethefuturethroughleapfroginnovation,andconstructanewparadigmforhigh-qualitydevelopment"drivenbyintelligentmanufacturingasitscore,underpinnedbymultiplegrowthcurves."

2. Core Growth Curves Anchored in Sustainable

Development?FullCoverageoftheAIIndustryChain,RedefiningtheAIDC

ValueLandscape

Duringthe"15thFive-YearPlan"period,thecompanywillfocusontheAIDCindustrychain,promotingtheexpansionofitsproductmatrixfromexistingpowerequipmenttoacomprehensiverangeofnext-generationproducts,coveringkeyareassuchaspowermodules,solid-statetransformers,andhigh-voltageDCpowersupplies.?DeepeningGlobalMarketPresence,ForgingWorldwide

CompetitivenessWhiledeeplycultivatingthedomesticmarket,weareacceleratingourglobalexpansionbyleveragingouraccumulatedtechnicaladvantagesandbrandinfluenceovertheyears.Thecompany'soverseasproductionbasesarenowoperational,servingasstrategicanchorsintheirrespectiveregions.Ourinternationalteamscontinuetodeepentheirengagement,fosteringclosecollaborationwithglobalindustrypartners.Weareacceleratingpenetrationintokeymarkets,whilecontinuouslyimprovingourlocalizedsales,service,andtechnicalsupportsystems.Thecompanyismakingsteadyprogressinitstransformation,from"productexport"to"capabilityexport,"andfrom"MadeinChina"to"GlobalDelivery."

3. Co-Creating Value and Driving Progress in Industry

and Society

WedeeplyintegrateESGprinciplesintoourstrategicoperations,promotingresourcecirculationandecologicalprotectionthroughfulllifecycleenvironmentalmanagement,whileworkingtogethertobuildasustainablefuturewherehumanityandnaturecoexistinharmony.Weremaincommittedtodrivingtechnologicalandproductiterationthroughinnovation,fosteringplatformsforemployeegrowthinternallywhilebuildingaresponsiblesupplychainexternally,andgivingbacktosocietythroughtangibleactions.Wecontinuouslydeepenourstrategyandrefineourgovernancesystems,buildinguponrobustriskmanagementandcompliantoperationstocreatelong-term,synchronizedeconomic,environmental,andsocialvalueforallstakeholders.

?AchievingHigh-PerformanceMaterialsBreakthroughs,BuildingCoreUpstreamResilienceThecompanyisstrategicallypositioningitselfinthefieldofamorphousalloymaterials—recognizedasthenext-generationgreenandenergy-efficientmaterialcapableofsignificantlyenhancingtransformerenergyefficiencyratiosandservingasacriticalcornerstoneforfuturegridupgradesandnewnergyintegration.TheCompanyhasmademyriadachievementsinthisdomain,becomingoneofthefewenterprisesintheindustrytoestablishfullyindependentandcontrollablecapabilitiesacrosstheentirechain—frommaterialstoproductstoapplications.

Facingtheneweraofartificialintelligence,JinpanSmartTechnologyisfirmlycommittedtodrivingstrategicleapsthroughadual-innovationmodel,reshapingtheindustriallandscapewithintelligentmanufacturing,anddefiningthefutureofgrowthwithAI+energyandpower.Westrivetoachievethevaluesymbiosisofeconomicbenefits,socialcontributions,andecologicalresponsibility,interpretingthemissionofourerainintelligentmanufacturingthroughinnovativepractices.

Chairman of Jinpan Smart Technology

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

About Us

Revenue

RMB 7.295billionFoundedin1997,HainanJinpanSmartTechnologyCo.,Ltd.(referredtoas“JinpanSmartTechnology”,stockcode:688676)islocatedintheHaikouIntegratedFreeTradeZone.Itisanationalhigh-techenterpriseintegratingresearchanddevelopment,production,sales,andservices.OnMarch9,2021,theCompanyconductedanA-sharespublicofferingandwaspubliclylistedontheScienceandTechnologyInnovationBoard(STARMarket)oftheShanghaiStockExchange,becomingthefirstlistedcompanyfromHainantobelistedontheSTARMarket.JinpanSmartTechnologyspecializesintheresearch,development,production,andsalesofmedium-andlow-voltagevarioustransformerseries,switchgearseries,energystorageseries,andintelligentindustrialrobots.TheCompanyhasfullyimplementedadigitaltransformationmodel,consistentlyprovidinghigh-qualitypowersupplysolutionsandhigh-endequipmentforfullscenariosincludingAIDCmodularpowerequipment,newenergy(coveringwindenergy,photovoltaics,energystorageandotherfields),highefficiencyandenergyconservation,andrailtransit.ItisdedicatedtoR&Dofenergy-savingnewmaterials.TheCompany'sproductshaveobtainedaseriesofauthoritativedomesticandinternationalcertifications,includingUL(UnitedStates),KEMA

(Netherlands),CE(EuropeanUnion),DNV,CSA(Canada),andChinaEnergy-SavingProductCertification,totaling332certifications.Meanwhile,theCompanycontinuouslyenhancesitscorecompetitivenessthroughadigitalmanufacturingmodel.TheCompany'sproductsandservicesaredistributedacross6continentsand87countries.JinpanSmartTechnologyhasrepeatedlyundertakennational,provincial,andmunicipalscienceandtechnologyprojects,andhasbeenhonoredwithnumerousprovincial-levelScienceandTechnologyProgressAwardsandTechnologyAchievementTransformationAwards.TheCompanyhasreceivedhonorsincludingNationalKeyHigh-TechEnterprise,NationalEnterpriseTechnologyCenter,oneofthefirstOutstanding-levelSmartFactories,andHainanProvincial"GovernmentQualityAward",andhasobtainedmorethan300patents.TheCompanyhasachieveddigitaltransformation,atthesametimeworkingtotransitiontowardssmartmanufacturing.Itcontinuouslyenhancesitscorecompetitivenessandimprovesitsabilitytocreatevalueforcustomers.

Net profit attributable to

shareholders of the listed company

RMB 660million

Total number of employees

2,286employees

Global coverage

6continents

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code

688676

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Company Culture

VisionBuild a “Community of SharedFuture for Enterprises”And benefit employees,enterprises, and society.

Mission

Create greater value forcustomers,Foster growth opportunitiesfor employees,And blaze a developmentpath for the Company.

ValuesCenter on customer value, build onemployee value, and aim for social value;Commit to learning and growth, self-transcendence, innovative development,and empower others to succeed.

Business PhilosophyIntegrity in operations, greendevelopmentDigital leadership, andintelligent manufacturing forthe future

Spirit

Be dream-driven,passionate, and wise;Courage to innovate,strive, and takeresponsibility.

Corporate Style

Act with integrity, workwith meticulousness;Enjoy work and live ahealthy life.

Work GuidelinesCustomer Service Guidelines: Put customers at the center and deliver the optimalcustomer experience.Quality Guidelines: Rigorous analysis, meticulous operation, and strict inspection.Safety Guidelines: Abide by rules and regulations, eliminate potential hazards,and prevent accidents.Efficiency Guidelines: Standardization, automation, and digitalization.Employee Guidelines: Mutual assistance and care, loyalty and gratitude,dedication and efficiency, integrity and self-discipline.Leadership Guidelines: Professional competence, professional ethics, professionalspirit; Aspirational to act, capable to execute, and results-oriented to deliver.

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

NationalEnterpriseTechnologyCenterThefirstOutstanding-levelSmartFactoriesNationalIntellectualPropertyDemonstrationEnterpriseExcellenceCasesofEnterpriseHistoricalRecordsandAnnalsintheMinistryofIndustryandInformationTechnologyofChina's"IndustrialStrengththroughInnovation"CampaignAmorphousAlloyDry-TypeTransformerhasbeenincludedintheRecommendedCatalogueofEnergy-SavingandCarbon-ReductionTechnologiesandEquipmentintheNationalIndustrialandInformationTechnologySector(2025Edition).SelectedasaNationalTypicalCaseofPowerDemand-SideManagementintheIndustrialSector(2025)–GuilinJuntaifuHainanProvincialGovernmentQualityAward(ThirdSession)HainanScienceandTechnologyAward–2024HainanProvincialEnterpriseInnovationAwardHainanHigh-TechLeadingEnterpriseGuangxiScienceandTechnologyAward–CorporateScientificandTechnologicalInnovationAward(GuilinJuntaifu)SecondBatchofGuangxi"AI+Manufacturing"VerticalDomainModelsandTypicalCases(2025)–GuilinJuntaifuProvincial-LevelSpecializedandSophisticatedSMEs(JinpanYangzhou)Provincial-LevelEnterpriseTechnologyCenter(JinpanYangzhou,WuhanJinpanIntelligent)Provincial-LevelGreenFactory(JinpanYangzhou)SecondBatchofAdvanced-LevelSmartFactoriesandTypicalAIApplicationScenariosinHubeiProvince(2025)–WuhanJinpanIntelligent2025BestESGListedCompanyontheSTARMarket2025"SSEEagle·GoldenQuality"Awards:OutstandingEntrepreneur,MostPopularEntrepreneur,MostPopularCompany,MostPopularIRDirector,andESGAward2025CailianPressZhiyuanAward–ESGPioneerEnterpriseListofBestPracticesinSustainableDevelopmentbyListedCompanies2025,issuedbytheChinaAssociationforPublicCompanies(CAPCO)DCMMLevel3CertificationforDataManagementCapabilityMaturityAssessmentModel(WuhanJinpanIntelligent)CMMMLevel3CertificationforCapabilityMaturityModelIntegration(GuilinJuntaifu)CNASAccreditation(RegistrationNo.CNASL22834)–WuhanBranchLevel5GreenSupplier–GoldwindSci&Tech(2025)

National and Provincial-Level Honors

Honors

Industry Honors

Supplier Honors

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Jinpan Smart Technology “Numbers Tell” 2025

Economic value

RevenueRMB

7.295billion

Social value

Net profit attributable toshareholders of the listed companyRMB660millionSocial contribution per shareRMB

3.21RMB/share

Revenue per employeeRMB

3.1912million

Profit per employeeRMB

0.2885million

Environmental value

Total energy consumptionGreenhouse gas emissions (Scope I & II)1,860.56Reduction ratio of greenhouse gasemissions in 2025 compared to 2024

60.8%

Energy consumption intensity

8.4

Greenhouse gas emission intensity

0.0026

tons of carbon dioxideequivalent

kg of carbon dioxideequivalent

tons of carbon dioxide equivalent/RMB 10,000 of revenue

Number of products with carbon footprint

certification

16items

Number of certified zero-carbon factories

4items

Amount of environmental protection

investment

RMB

2.2499million

Total number of employees2,286Average training hours peremployee81hoursAmount of R&D investmentRMB357millionNumber of suppliers1,591

Employee income increased by

9.61% compared to

the previous yearAmount of public welfaredonationsRMB463,900Total number of patentedtechnologies obtained356items

6,125.39

tons ofstandard coal

Clean energy utilization rateClean energy consumption increased by

45.35%compared to 2024

89.17%

Number of productcertifications obtained

332items

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code

688676

ESG Committee

TheBoardofDirectorshasestablishedanESGCommitteeresponsibleforformulatingandoverseeingtheimplementationoftheCompany’sESGvision,strategy,andgoals.TheCommitteeassessestheeffectivenessoftheESGgovernancestructure,monitorsESGtrendsandrisks,guidesthemanagementofmaterialissues,reviewstheESGreport,andconductsday-to-dayoversightofrelevantESGmatters.ItholdsatleasttwospecialbriefingsannuallytohearprogressupdatesandtrendanalysesfromtheESGWorkingGroup.

JinpanSmartTechnologyhassystematicallyembeddedESGmanagementintoitscorecorporategovernanceanddailyoperationalworkflows,positioningsustainabledevelopmentasacorecomponentofitsstrategicdevelopment.Toinstitutionalizethiscommitment,theCompanyhascontinuouslyrefineditsESGmanagementmechanisms,andestablishedasystematicESGmanagementsystemalignedwithinternalandexternalrequirementsaswellastheCompany’sdevelopmentplans.IthasformulatedinternaldocumentsincludingtheESGManagementManualandtheEnvironmental,SocialandGovernanceIndicatorSystemManual(Trial),whichstandardizeESGmanagementprocesses,optimizeresourceallocation,andprovideguidanceforsustainabledevelopmentdecision-making.Wehaveintegratedsustainabledevelopmentconceptsintocorporategovernancetodriveourlong-termsustainability.Byproactivelycollectingexternalregulatoryinformation,conductingindustrytrendanalysis,andbenchmarkingagainstpeers,theCompanyenhancesitsESGmanagementcapabilities,identifiesmaterialESG-relatedrisks,andformulatescorrespondingriskmanagementstrategies.Leveragingscientificmethodologiesandstructuredprocesses,theCompanycontinuouslyimprovesitsESGriskmanagementstandards,providingasolidfoundationforstablebusinessoperationsandsustainablegrowth.

Cultivating Robust Responsibility Management

ESG Management StructureTheCompanyhasestablishedathree-tiergovernancestructurecomprisingtheBoardofDirectors,theESGCommittee,andtheESGWorkingGroup,andhasformulatedtheEnvironmental,Social,andGovernance(ESG)WorkingGroupResponsibilityHandbooktoensureclearrolesandresponsibilitiesateachlevel.ThisstructureenablessystematicconsiderationofESGfactorsinbusinessdecision-makingandsupportseffectivemanagementofrelatedrisksandopportunities.

Board of Directors

TheBoardofDirectors,asthehighestresponsiblebodyfortheCompany'sESGmanagement,isresponsibleforreviewingandapprovingtheCompany'sESGstrategiesandobjectives,monitoringtheimplementationprogressofESGpoliciesandmanagementwork,assessingmaterialESGrisks,guidingstakeholdercommunication,andapprovingESGinformationdisclosure.

ESG Working Group

TheESGWorkingGroupconsistsofresponsiblepersonnelfromvariousfunctionaldepartmentsandistaskedwithdrivingtheimplementationoftheESGstrategy.ThisincludesexecutingESGgoalsandactionplans,organizingthepreparationandverificationoftheannualsustainabilityreport,andreportingprogresstotheBoardofDirectorsandtheESGCommittee.Thegroupoperatesunderamechanismledbyadesignatedleaderforoverallcoordination,withmembersresponsibleforspecifictasks.Meetingsareheldbi-monthlyinprinciple.

Environmental Working GroupSocial Working GroupGovernance Working Group

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Z

Jinpan Smart Technology conducted specialized ESG training to build an internal sustainability ecosystemTofullyimplementtheconceptofsustainabledevelopmentandacceleratetheconstructionofadistinctiveESGmanagementsystemtailoredtoJinpanSmartTechnology,theCompanyhassystematicallydeployedacomprehensive“Governance→Disclosure→Rating”full-cycleenhancementpathway.Thisapproachleverageshigh-qualityESGpracticestodrivetheCompany’ssustainableandhigh-qualitydevelopmenttoanewlevel,therebydeeplyempoweringbusinessgrowth,governanceupgrading,andbrandenhancement.

Case

JinpanSmartTechnologyiscommittedtocontinuouslyenhancingitsESGgovernancecapabilitiesbyconductingregularinternalESGtrainingsessionsforpersonnelinvolvedinESGmanagement.Theseinitiativesaimtodeepenemployees’understandingofESGprinciples.Meanwhile,JinpanSmartTechnologyactivelyengageswithpartnerstoexchangeinsightsonindustryESGtrendsandbestpractices,jointlypromotingsustainableprogressacrossthesectorandstrivingtobuildagreener,moreresponsibledevelopmentecosystem.

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Stakeholder CommunicationEffectiveandtransparentcommunicationwithstakeholdersisnotonlyacrucialapproachtoachievinggoalmanagement,butalsothefoundationforcollaborativelycreatinglong-termvalue.Tothisend,weidentifykeyinternalandexternalstakeholdersbyintegratingtheCompany’sactivities,businessrelationships,andexternalobjectiveenvironmentalfactors,andconveycorporateprogressinatimelyandcomprehensivemannerthroughdiverseandunimpededcommunicationchannels,whileactivelysolicitingfeedbackfromallparties.Basedontheopinionsandexpectationsofstakeholders,wecontinuouslyintegratefeedbackintooursustainabledevelopmentstrategy,strivingtoearnunderstanding,recognition,andsupportfromallsectors,therebylayingasolidfoundationfortheongoingadvancementofsustainability.Toaccuratelycapturediversestakeholderneeds,theCompanyconductsatleastonestakeholderquestionnairesurveyannually,andrefinesitscommunicationstrategiesbasedonsurveyoutcomes,establishingcorrespondingregularoradhoccommunicationmechanismsalignedwiththeuniquecharacteristicsandrequirementsofeachgroup.Inaddition,wesystematicallyintegrateESG-relatedinitiatives,progress,andoutcomesintoourannualsustainabledevelopmentreport,disclosingourpracticeachievementstothepublicinatransparentandstandardizedmanner,activelyacceptingoversightandfeedbackfromstakeholders,anddrivingcontinuousimprovementintheCompany’senvironmental,social,andgovernance(ESG)domains.

Employees

Government/regulatory agencies

Shareholders

/investors

Customers

Suppliers andother partners

Community and

the public?Compliant employment and

basic rights protection?Fair promotion anddevelopment?Occupational health and safety?Welfare and care

?Compliant operations?Business ethics and anti-corruption management?Driving local economic

development

?Corporate governance?Business ethics and anti-corruption management?Continuous and stable returns?Transparent informationdisclosure

?High-quality products andservices?Customer relationshipmanagement?Responsible marketing?Win-win cooperation?Technology innovation

?Anti-unfair competition?Integrity in contractperformance?Win-win cooperation?Intellectual property protection?Supply chain management

?Public welfare anddonations?Emissions management?Resource usage?Operational site biodiversity?Government/regulatoryagency inspections?Official correspondence?Submission of compliancereports

?Shareholders’ meetings?Information disclosure?Roadshows?Investor conference calls

?Customer research?Customer satisfaction surveys?Technological seminars

?Exchange and visits?Industry forums?Suppliers' meetings?Contract negotiations

?Exchange and interviews?Volunteer services?Community activities?Rural revitalization activities?Reporting of operating

conditions and compliance?Tax payment status?Social responsibility fulfilment?Progress in intelligenttransformation

?Financial performance?Dividend distribution policy?Progress of ESG work

?Product and service updates?Customer support services?Introduction to socialresponsibility programmes?Progress in intelligenttransformation

?Terms of cooperationagreements?Delivery schedules?Quality standards and

requirements?Procurement policy

?Social impact assessmentresults?Fulfilment of corporate

citizenship responsibilities?Environmental protectionmeasures?Implementation of communitycontribution projects

Communication

channels

Content ofcommunication

Stakeholders

Expectationsand demands

?Staff meetings?Management meetings?Employee training?Employee activities?Corporate strategic objectives?Performance evaluation results?Career developmentprogrammes?Health and safety policies?Changes in employee benefits

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Service Investors, Share High-Quality Development | “ I Am a Shareholder” Event Comesto Jinpan Smart Technology

Thespecialinvestorrelationseventthemed"IAmaShareholder–ExploringShanghai-listedCompanies"wassuccessfullyheldatJinpanSmartTechnology.Thiseventnotonlyprovidedsmallandmediuminvestorswithanopportunityforon-siteresearch,butalsodemonstratedJinpanSmartTechnology'sresponsiblecorporateimageasanopenandproactivelistenertoinvestors'voices.

Case

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Basedonthe21issuesoutlinedintheShanghaiStockExchange’s

Guidelines,andinalignmentwithnationalpolicies,ESG-relatedstandards,capitalmarketconcerns,industrypeerpracticesandthecompany-specificconditions,theCompanyhasidentified26priorityESGissuesoftheyear2025,andformulatedtheESGIssueListaccordingly.

Conductquestionnairesurveysamonginternalandexternalstakeholderstocollecttheirassessmentopinionsonthe"levelofimpact"ofESGissuesineconomic,environmentalandsocialdimensions.

Basedontheassessmentresultsofimpactandfinancialmateriality,prioritizetheissuestoformulatetheJinpanSmartTechnology2025MaterialityIssueMatrix.

TheBoardofDirectorsreviewsandconfirmsthefindingsofthematerialityassessmentanalysis,andcarriesouttargeteddisclosureandpracticalmanagementenhancementbasedontheprioritizedESGissues.

Basedonglobalsustainabledevelopmenttrends,industrycharacteristics,itsownoperationalanddevelopmentalneeds,andreferencingtheGuidelinesNo.14ofShanghaiStockExchangeforSelf-RegulationofListedCompanies—SustainabilityReport(Trial)(hereinafterreferredtoasthe“Guidelines”),JinpanSmartTechnologyhassystematicallyconductedaDoubleMaterialityAssessmentontheidentificationandevaluationofissues,byintegratingthekeyconcernsofinternalandexternalstakeholders.Issue Materiality Assessment Process

Impact materialityassessment

Throughmethodssuchasexpertassessmentsandinternalsurveysandinterviews,theCompanyevaluatestherisks,opportunities,andmagnitudeofimpactthatESGissuesmayposetoitsbusinessoperations,financialcondition,resultsofoperations,andcashflows.

Financial materialityassessment

01020304

Establishing the ESG issue listMateriality assessmentDouble materiality assessment analysisESG issue review and disclosure

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

National regulatory policiesGuidelinesNo.1forSelf-RegulatorySupervisiononSTARMarketListedCompaniesoftheShanghaiStockExchange—NormativeOperations,GuidelinesNo.13forSelf-RegulatorySupervisiononListedCompaniesoftheSSESTARMarket—CompilationofSustainableDevelopmentReports,GuidelinesNo.14ofShanghaiStockExchangeforSelf-RegulationofListedCompanies—SustainabilityReport(Trial),andtheSelf-RegulatoryGuidanceNo.4forListedCompaniesoftheShanghaiStockExchange–PreparationofSustainableDevelopmentReports(ExposureDraft),etc.

Step 1: Establishment of the ESG issue list

Basedonthe21issuesoutlinedintheShanghaiStockExchange’sGuidelines,andinalignmentwithnationalpolicies,ESG-relatedstandards,capitalmarketconcerns,andindustrypeerpractices,theCompany,groundedinitsindustrycharacteristics,developmentstage,businessmodel,andfuturestrategy,hasidentifieditspriorityESGissuesfor2025acrossthethreekeydimensionsofenvironment,social,andgovernance,ultimatelyformulatinganESGIssueListcovering26issues.In2025,buildingonthepreviousyear’sissuesandalignedwiththeCompany’sstrategicdevelopment,wehaveintroducedtwonewESGissues:"AIEmpowermentandTechnologyEthics"and"IntelligentTransformation",whilemerging"ResponsibleMarketing"and"CustomerService"intoasingleintegratedtopic:"MarketingandCustomerService".

Jinpan Smart Technology's 2025 ESG issue list

Environmentalcompliance managementResponding to climatechangeEmissions management

Energy management

Water resource

managementBiodiversity protection

Green productsCircular economyPublic welfare and charity

Intellectual property

protectionR&D and innovationIntelligent transformationAI empowerment and

tech ethics

议题维度

议题名称

Supply chainmanagementProduct quality and

safetyMarketing and customer

serviceCustomer privacy and

information securityRemuneration and

benefitsEmployee employment

and human rightsDiversity, equity and

inclusionEmployee training and

developmentOccupational health and

safety

StakeholderCommunicationSustainability governanceBusiness ethics and anti-corruptionCorporate governance

Issuedimensions

IssuenameIssuedimensions

Issuename

EnvironmentalSocial

GovernanceSocial

ESG-related standards

GRISustainabilityReportingStandards,CorporateSocialResponsibilityResearchCenteroftheChineseAcademyofSocialSciences'ChinaCorporateSocialResponsibilityGuideFramework(CASS-CSR6.0),TaskForceonClimate-relatedFinancialDisclosures(TCFD)Recommendations,etc.

Capital market focus

KeyindicatorsmonitoredintheEcoVadisSustainableSupplyChainRating,etc.

Peer benchmarking analysis

MaterialESGissuesofleadingpeercompanieswithexcellentESGperformance

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

Impact materiality assessmentTheImpactMaterialityAssessmentaimstorespondtostakeholders'concernsregardingtheexternalimpactsoftheCompany'sbusinessoperations.Byconductingquestionnairesurveysamonginternalandexternalstakeholders,theCompanycollectsevaluationsfromallstakeholdersonthe"levelofimpact"ofESGissuesineconomic,environmental,andsocialdimensions.Basedon257validquestionnairescollected,theCompanyscoresandrankstheseissuestoformtheconclusionsoftheimpactmaterialityassessment,whichwillalsoserveasakeybasisforaddressingstakeholders’concernsinthefuture.

Determine the impactmateriality assessment factors

Identifythefactorsforimpactmaterialityassessment,includingimpactscale,scope,irremediability,likelihood,etc.

Conduct stakeholder surveys

Aquestionnairesurveywasconductedamongkeyinternalandexternalstakeholders,includingmanagementandemployees,governmentandregulatoryagencies,shareholdersandinvestors,customers,communityandthepublic,suppliers,andpartners.Thesestakeholdersthenevaluated,basedonthedefinedcriteriaforimpactmateriality,theextenttowhichtheperformanceoneachESGissuehasorcouldhaveasignificantimpactontheeconomy,society,andtheenvironment.

Form the impact materialityassessment conclusionAnalyzeandprocessthedatacollectedfrom257validquestionnaires,scoreandranktheimpactmaterialityofESGissues,andformulatethefindingsoftheimpactmaterialitysurvey.

Step 2: Materiality assessment

Ranking of Impact Materiality Assessment ResultsNo.Issue

Environmental compliancemanagement2Supply chain management

Responding to climatechange4Remuneration and benefits

Water resourcemanagement6Intelligent transformation7Energy management8Emissions management

Intellectual propertyprotection10R&D and innovation11Product quality and safety

human rights

No.Issue

14Circular economy15Public welfare and charity

Customer privacy andinformation security

AI empowerment and tech

ethics

Employee training anddevelopment

Diversity, equity and

inclusion

Marketing and customer

service

Occupational health and

safety

Business ethics and anti-

corruption23Corporate governance24Green products25Sustainability governance26Biodiversity protection

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Determine the financial materiality assessment factorsBasedonthelikelihoodoffinancialimpactandtheextentoffinancialimpact,thedegreeoffinancialimpactisanalyzedfromtwodimensions:"dependence/impactonresources"and"dependence/impactonrelationships."

Financial materiality assessmentFinancialMaterialityAssessmentprimarilyevaluateswhetherESGissuescouldhaveasignificantimpactontheCompany’sbusinessmodel,businessoperations,developmentstrategy,financialcondition,cashflows,andcostoffinancingovertheshort,medium,orlongterm.Theassessmentisconductedbyintegratingthelikelihoodandmagnitudeoffinancialimpacts,wherethemagnitudeisanalyzedfromtwodimensions:“dependenceon/influenceoverresources”and“dependenceon/influenceoverrelationships”.TheCompanyinvitedinternalandexternalindustryandfinancialexpertstoparticipateinthescoringprocess,supplementedbyresearchinterviewswithrelevantinternaldepartmentsandmanagement.Ultimately,respondingtoclimatechange,intelligenttransformation,R&Dandinnovation,aswellasproductqualityandsafety,wereidentifiedasfinancialmaterialityissues.

Ranking of the Financial Materiality of ESG IssuesTheCompanyranksthefinancialmaterialityofESGissuesbyinvitingrelevantexpertstoscoreeachissuebasedonthelikelihoodandmagnitudeoffinancialimpact,combinedwiththeresultsofresearchinterviewsconductedwiththeCompany’srelevantinternaldepartmentsandmanagement.

Form the financial materiality assessment conclusion

Basedontheexpertscoringresults,theCompanyderivedthefindingsofthefinancialmaterialityassessment,confirmingthatrespondingtoclimatechange,intelligenttransformation,R&Dandinnovation,andproductqualityandsafetyarefinancialmaterialityissues.

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

Environmental compliance management

Water resource management

Energy management

Emissions management

Responding toclimate change

Circulareconomy

Biodiversityprotection

Green products

Supply chain managementRemuneration and benefits

Intellectual property protection

IntelligenttransformationR&D and innovationProduct qualityand safety

Occupational health and safety

Customer privacy and information securityMarketing and customer serviceEmployeetraining anddevelopmentAI empowermentand tech ethicsEmployeeemployment andhuman rights

Public welfareand charityDiversity, equityand inclusion

Sustainability governance

Corporate governance

Stakeholder CommunicationBusiness ethics andanti-corruption

Step 3: Double materiality analysis

Onthebasisoftheassessmentfromthetwodimensionsof"impactmateriality"and"financialmateriality",theCompanyprioritizedeachissuethroughamatrixapproach,formingthe2025ESGMaterialityMatrix.Inthismatrix,thehorizontalaxisrepresentsfinancialmateriality,whiletheverticalaxisrepresentstheimpactmaterialityontheeconomy,society,andtheenvironment.Afterassessment,theCompanyidentifiedrespondingto

climatechange,intelligenttransformation,R&Dandinnovation,andproductqualityandsafetyasissueswithdoublemateriality.

Step 4: ESG issue review anddisclosureTheBoardofDirectorshasreviewedandconfirmedthefindingsofthe2025ESGmaterialityanalysis.TheCompanywillprioritizethedisclosureofESGissueswithfinancialmaterialityinthereportandimplementedfocusedmanagementinsubsequentoperations.IssuematerialityassessmentservesasthefoundationfortheCompany’ssustainabledevelopmentgovernanceandmanagement,helpingtorationallyallocateresourcesandclarifymanagementprioritiesindifferentperiods.

Jinpan Smart Technology's 2025 ESG Materiality Matrix

Relative materialityHigh materiality

High materiality

Financial materiality

Impact materiality

EnvironmentalSocialGovernance

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

FeatureForewordAppendixStock code

688676

Wearecurrentlyinaprofounderaofdualtransformation.Ononehand,theglobalwaveofAIlargemodelshastriggerednear-limitlessdemandforcomputationalpower,causingelectricityconsumptionindatacenterstosurgedramatically—infrastructureforpowersupplyisincreasinglybecomingabottleneckforartificialintelligencedevelopment.Ontheotherhand,theglobaltransitiontowardrenewableenergysources—suchaswind,solar,andhydrogen—presentsnewchallenges,demandingsmarter,moreadaptivegridstoaccommodatethisevolvingenergylandscape.AstheglobalAIlargemodelrevolutionaccelerates,powersystemshavebecomeacriticalbottleneckconstrainingtechnologicaladvancement, makingSolid-StateTransformers(SST)amoreefficientchoiceattheintersectionofenergytransformationandAIinfrastructureinnovation.InOctober2025,NVIDIAhighlightedSSTinitswhitepaperonthenext-generationartificialintelligenceinfrastructure,whileJinpanSmartTechnologyforesawthesignificantstrategicimportanceofSSTlongbeforethewhitepaper'srelease,havingbegunindependentlydevelopingSSTsspecificallydesignedforAIDCuse.

Computing Power as the CornerstonePropelling Technology Toward a Grand Vision

Feature I

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

AppendixStock code688676

FeatureForeword

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

FeatureForewordAppendixStock code

688676

WecloselyalignwithAIDC'scoredemandsfor'highreliabilityandhighefficiency'inpowerequipment.Onthebasisofcontinuouslyconsolidatingourexistingadvantageoustransformerseriesproducts,weareexpandingourofferingstoincludeintelligentflexibleconnectionpowermodulesandotherexistingdatacenterpowermoduleproducts.Atthesametime,wecloselytracktheevolvingtrendsindatacenterpowersupplytechnologiesandareactivelyinvestingintheR&Dofinnovativepowerarchitectures.Inalignmentwiththedatacenterindustry'sshifttowardHVDC(High-VoltageDirectCurrent)andSST(Solid-StateTransformers),thecompanyhassuccessfullycompletedtheR&DofHVDC240Vsystems,aswellasthedesignandprototypingofsolid-statetransformers.Wecontinuetoiterativelyrefinethesetechnologiesandproducts,strivingtodelivermoreefficientandcompactDCpowersupplysolutionsforAIDCapplications.

Pioneering Advanced Technologies to Empower AIDC

Distribution TransformerComplete SwitchgearEquipment

Panama Power Phase-ShiftingRectifier Transformer

Power Module

Iterative Products

Current Advantage Products

SSTHVDC

Power Supply Structure R&D

UtilityPower Input

DistributionTransformer

AC380V

UtilityPower Input

UtilityPower Input

UtilityPower Input

10-35kV

Low VoltageCabinet

UPS InputCabinet

UPSUPS OutputDistribution

ArrayDistributionCabinet

ServerCabinetAccumulator10-35kV

DistributionTransformer

Low VoltageCabinet

HVDC

DC240V

10-35kV

Panama Power Phase-Shifting

Rectifier Transformer

Rectifier and VoltageRegulation Output Unit

DC240V

10-35kV

Solid-State Transformer (SST) Solution

Power DistributionCabinetDC800V

DU UPS (also known as PanamaPower Distribution Solution)

Accumulator

Accumulator

Energy Storage Battery

ServerCabinet

ServerCabinet

ServerCabinet

ArrayDistributionCabinet

ArrayDistribution

Cabinet

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

AppendixStock code

688676

FeatureForeword

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

FeatureForewordAppendixStock code688676

Underthisstrategicvision,wehaveachievedphasedresults.TheCompanyhasestablishedadedicatedR&Dteamtoadvancethedevelopmentofcutting-edgetechnologies,includingSolid-StateTransformers(SST).TheSSTsystemenablesdirect,high-efficiencyconversionfromACgridpowerto800VDC,significantlyreducingpowerconversionstagesfrommedium-voltageACtoDC,loweringsystemlosses,andminimizingequipmentfootprint.ThismakesitparticularlysuitableforGW-scalehyperscalegreendatacenters.TheCompanyhascompletedtheprototypeofasolid-statetransformer(SST),specificallydesignedforthe800Vpowersupplyarchitectureofhigh-voltagedirectcurrent(HVDC),strivingtoestablishitselfasacriticalcoreequipmentforultra-large-scalegreendatacenters.

High Efficiency &Energy Savings

Ultra-High Power Density

StrongSystemCompatibility

Intelligent Operationand Maintenance withHigh Reliability

Committed toproviding reliablepower support forglobal AI data centers(AIDC) customers

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

Tofurtherexpandtheproductioncapacityofcompleteseriesproductssuchasdatacenterpowermodulesandtomeettherapidlygrowingdemandinthedownstreamdatacentersector,theCompanyissuedconvertiblebondstounspecifiedinvestors.AportionoftheproceedshasbeenallocatedtotheconstructionoftheDigitalFactoryProject(Tongxiang)fordatacenterpowermodulesandrelatedcompleteseriesproducts,therebyestablishingasolidproductioncapacityfoundationforthestableandcontinuoussupplyofsuchproductsintheAIDCsector.

Strategic Capacity Expansionto Solidify the Foundation forDevelopment

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Self-Developed HVDC Solution Powers Jinpan Smart Technology’s AI Factory

TheJinpanSmartTechnologyteamhasofficiallypowereduptheAIFactorywithitsself-developedHVDCproducts,completingthefull-scaledeploymentofcorecomputinginfrastructure.ThismilestonerepresentsasubstantialbreakthroughinkeytechnologiesacrosstheentireAIproductchainforJinpanSmartTechnology,takingtheleadincreatingaphysicalmodelof'AI+manufacturing'andlayingasolidfoundationforempoweringtheindustry'sgreencomputingdevelopment.

Case

Warm congratulations on the official launch of Jinpan Smart Technology AIFactory, empowering the new era of intelligent manufacturing!

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating Governance

FeatureForewordAppendix

Stock code

688676

Asthetideofdatasurgesthroughtheeraandsparksofintelligenceilluminatethehorizon,atransformativewavereshapingthemanufacturingecosystemisalreadyunfolding.Atthishistoricconvergence,JinpanSmartTechnologytakestheleadwithavisionaryinitiative—“FromDigitalizationtoFull-SpectrumIntelligentManufacturing”—leveragingAItechnologyintegratedwithdigitalmanufacturingplatformstocomprehensivelyachieveintelligenttransformation,expandingintotheboundariesofefficiencyandvalue.

Feature II

Empowering Smart ManufacturingForging an Intelligent Future

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

AppendixStock code

688676

FeatureForeword

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

TheCompanyhasalwaysadheredtothecorephilosophyof"technologicalinnovationcreatesvalue,"andhasbeendeeplycommittedtoproductinnovationandthetransformationandupgradingofintelligentmanufacturingtechnologies.Throughdecadesofsteadygrowthandaccumulation,theCompanyhasbuiltanefficientandmatureR&Dsystemandorganizationalstructure,withR&DplatformssuchastheElectricalResearchInstituteandtheIntelligentTechnologyResearchInstitute.GuidedbytheCompany’sstrategicdevelopmentgoals,theinstituteconductsforward-lookingresearch,whilebusinessunitsacrossproductlinescontinuouslyinnovateanditerateinclosealignmentwithmarketdemands,drivingcustomer-centricR&Dacrossvariousapplicationscenariosincludingenergyandpower,energystorage,anddigitalmanufacturingmodelinnovation.

Governance

Jinpan Smart Technology's "Digital Intelligence" logic supports and leads various business developments

Jinpan Smart Technology’s "Digital-Intelligence" Logic

ArtificialIntelligence

Empowering Intelligent Manufacturing Transformation

Digital Transformation and UpgradingGuided by ESGConcepts

Linked bycapitalTargeting greenand low-carboninitiatives

Focusing on smartmanufacturingplatforms

Collaborating withIndustry Partners toBuild a "Green EnergyEquipmentManufacturingCommunity of SharedFuture"

DigitalFactory

DataAssetization

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

FeatureForewordAppendixStock code

688676

2423

TheCompanyisactivelyexpandingintothefieldofintelligentindustrialroboticsandestablishedJinpanRobotics(Wuhan)Co.,Ltd.inMarch2025.Focusingontechnologicalbreakthroughsandindustrialapplicationsofnext-generationcollaborativerobotsandembodiedintelligentweldingrobots,theCompanyhaspositionedintelligentcollaboration,intelligentwelding,andsmartfactoriesasthethreestrategicpillarsforJinpanRobotics’development.JinpanRoboticshassuccessfullydevelopedmultipleintelligentindustrialrobotsandanext-generationvision-basedintelligentweldingsystem,masteringkeyautonomoustechnologies.Tosupportfuturelarge-scaledelivery,theCompanyissimultaneouslyadvancingtheconstructionofitsroboticsproductionlineandhascompletedtheproductionlineplanning.AsakeypracticeoftheGroup'sESGstrategyinthefieldofintelligentmanufacturing,theRoboticsDivisionhasintegratedtheprinciplesofgreen,safe,andefficientoperationsintotheentireprocessofproductdesignandtechnologydevelopmentsinceitsestablishment.Upholdingthecoreconceptof"responsibleinnovation,"thedivisionhasdeeplyembeddedrigorousethicalgovernanceintoeverystageofR&D.Lookingahead,thedivisionwillfocusonintelligentapplicationsofroboticsinfieldssuchaspowertransmissionanddistributionandintelligentmanufacturing,deliveringhigh-qualityproductsandcustomizedsolutionstoglobalmanufacturingclients.

Robot –Jingang

Robot –Haoyue

Robot –Zhitong

AttheWAIE2025(6th)ChinaIntelligentManufacturingDigitalTransformationConference,theCompany'sintelligentweldingrobotproductwashonoredwiththe"OFweekExcellenceAward".Meanwhile,JinpanRoboticsmadeaprominentappearanceatthe2025WorldIntelligentManufacturingExpo,showcasingitscomprehensivesuiteofintelligentweldingsolutionsspanningfixedproductionlinestoflexibleapplicationscenarios.TheexceptionalstabilityandintelligentperformanceofthesesolutionsdemonstratedJindanRobotics'strengthinindustrialautomation.

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating Governance

Appendix

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Thecompany'sstrategicsystemisclearandfocused:

intelligentmanufacturingisthecorefoundation,servingasthesourceofefficiency,theshieldofquality,andthebasisofflexibility;fullcoverageofAIindustrychainproductsandbreakthroughsinhigh-performancenewmaterialsarethetwomajordrivingforces,horizontallyleapingfromtraditionalpowerequipmenttohigh-endAIDCpowermodules,andverticallycontrollingcorelinksinupstreamnewmaterials;adual-innovationmodelisthefoundationfordevelopment,withincrementalinnovationcontinuouslyenrichingtheproductmatrixandleapfroginnovationleadingthemanufacturingparadigm;andtheglobalmarketprovidesdevelopmentspace,allowingintelligentmanufacturingcapabilitiesandhigh-endproductstodeeplyservetheconstructionofglobalAIinfrastructure.Lookingtowardsthe"15thFive-YearPlan,"thecompanywillfirmlyadheretothedual-innovationmodeltodrivestrategicleaps,reshapetheindustriallandscapewithintelligentmanufacturing,anddefinethefutureofgrowthwithAI+energyandpower,contributingJinpan'sstrengthtobuildinganewenergysystemandpromotingthecomprehensivegreentransformationoftheeconomyandsociety.

Strategy

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

Jinpan Smart Technology's "Hardware Layer-Platform Layer-Intelligent Agent" Intelligent Architecture

Digitalization Toward SmartManufacturing Upgrades

JinpanSmartTechnologyhasestablishedsevendigitalfactoriesinChinaandachievingfull-chaincoverageacrossdigitalR&D,management,marketingservices,andproduction.Buildingonthisfoundation,theCompanyisactivelyadvancingtowardcomprehensiveintelligenttransformationbycollaboratingwithgloballeadingpartnerstobuildanintelligentdatafoundation,Buildingonthisfoundation,JinpanTechnologyleveragesNVIDIAtechnologyandcollaborateswithleadingglobalpartnerstobuildanintelligentdatafoundation.Theydeploy"intelligentagents"andcollaborativelyconstructacontinuouslyvalue-creatingAIsmartfactory.

TheriseofAIbringssignificantstrategicopportunitiestoJinpanSmartTechnology.Ontheonehand,itdirectlydrivesanexplosivedemandforhigh-reliabilitypowersuppliesinAIDC.Ontheotherhand,itempowersustofullytransformtowardssmartmanufacturingbyintegratingAItechnologywithourdigitalizedmanufacturingplatform.Atthesametime,wefacemultiplechallenges:rapidtechnologicaliterationdemandssustainedhigh-intensityinvestmentinR&Dtomaintainourleadershipposition;issuesrelatedtodatasecurityandAIethicsimposehighergovernancerequirementsonus;andfierceglobalmarketcompetitiontestsourresponsivenessandcollaborativecapabilities.Whileopportunitiesabound,challengesaccompanytransformation.Duringthistransition,wefacemultipletests:firstistheriskoftechnologicaliteration—AIevolvesrapidly,requiringsustained,high-intensityR&Dinvestmenttomaintaintechnologicalleadershipandcutting-edgecompetitiveness;secondistheriskofdatasecurityandAIethics,whereend-to-endintelligencedemandshigherstandardsfordatagovernanceandthefairness,transparency,andcontrollabilityofalgorithms.TheactualsizeoftheAImarketmayfallshortofexpectations,oramacroeconomicdownturnmayleadtoaslowdowninAIDCdemandgrowth.Additionally,intenseglobalmarketcompetitionandthecultivationofscarcetalentcontinuetochallengeouradaptabilityandcross-functionalcollaborationcapabilities.Facingtheduallandscapeofopportunitiesandchallenges,JinpanSmartTechnologyisproactivelyrespondingwithforward-lookingstrategies.WearecontinuouslyincreasingR&Dinvestment,enhancingdatasecuritymanagementsystems,andofferingcompetitivecompensationandbenefitstoattractandretainscarceAItalent.Meanwhile,wearecollaboratingwithleadingglobalpartnerstoacceleratetheimplementationofAI-poweredsmartfactories—transformingchallengesintoopportunitiestostrengthenourcapabilitiestoco-createagrandvisionfortheAI-drivenfuturewithcustomersworldwide.

Impact, Risks, and Opportunities

IntelligentAgent

PlatformLayer

HardwareLayer

Video BehaviorAnalysis POCContractIntelligent Agent

Bidding andTenderingIntelligent AgentDigitalEmployee

DataIntelligentAgent

Server Room(VDC)

Computing Power(Self-built VDC)

AI PlatformKnowledge Base Platform

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Byleveragingcutting-edgetechnologiesfromAIandcollaboratingwithoutstandingglobalpartnersJinpanSmartTechnologyisstrengtheningitsfoundationalcomputingpowerinfrastructuretodeliverstableandefficientcomputationalsupportfordiverseAIapplications.Meanwhile,theCompanyisacceleratingthedevelopmentoftheAIFactoryplatform,drivingtheresearch,innovation,anddeploymentofkeyintelligentapplications.Inthefuture,JinpanSmartTechnologycommitstoevolveintoacollaborativemodelof"humanemployees+silicon-basedemployees+embodiedintelligentequipment."Throughthecomprehensiveimplementationof"AIEmpoweringPower,"theCompanyisadvancinghuman-machinecollaborationandprocessintelligence,committingtocontinuouslyenhancingper-capitaoutputandfurtherconsolidatingandextendingitsadvantagedpositionintheintelligentmanufacturingsector.

Indicators and Targets

Jinpan Smart Technology AI Factory Blueprint

AI application layer

Material

R&D

Workmanshipoptimization

Productdesign

Full-spectrumoptimization

Faultprediction

AI data engine /AI intelligentagent platform

AI FactoryPlatform

Silicon-basedworkforce platform

Enterprise-level AI development and deployment platform ? cloud-native ? production-ready

NVIDIA AI Enterprise(AIE)NIM microservices

NeMoframework

Cu Opt

Industrial-grade digital twin platform ? Physically accurate simulation ? Real-time collaboration

NVIDIA OmniverseEnterprise(OVE)USD PipelineRTX RenderingPhysX Physics

Robot development platform ? Simulation training ? Sim-to-Real

NVIDIA Isaac + Physical AIIsaac SimIsaac RosCosmos

Agent Platform（AutoAgent）

LLMs（Nvidia NIM）

World modelSpeech/Translation ModelEmbedding modelVisual modelLarge Language Model (LLM)JinpanWorld Model

whisper-large-v3

Seed-X-RM-7B

Bge-large-zh-v1.5Bge-reranker-v2-m3Qwen2.5-VL-72B-InstructDeepSeek-V3.1Qwen1.5-72B-Instruct

Cosmos modelsJST cosmos

Importing open-sourcecomponentsComponent

toolMulti-protocol publishing

Custom componentTemplate ManagementPrompt word variablePromptmanagement

Intelligent optimizationProcess orchestrationApplication orchestration

Testing and publishing

Agent Management

Contextual memoryCode executorIntelligent splitting

Data engineering(Ontological Data IntelligencePlatform)

Structured data

Hyper-convergeddatabase

Multimodal data

integration

Organization and

schedulingUnstructured dataPerceived data

EnterpriseKnowledge Base

Departmentalknowledge base

Personalknowledge base

Data-drivenIntelligent decision-makingContinuous evolution

R&DProduction

Supplychain

SalesService

Agentic AI

Robotcontrol

Industryqualityinspection

Predictivemaintenance

DigitalTwinsimulation

Autonomousnavigation

Physical AIAI for Science

Private computing powerCloud computing powerEdge computing power

COMPUTE + NETWORK NVIDIA Reference Architecture

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating Governance

FeatureForewordAppendixStock code

688676

JinpanSmartTechnology,initsmissiontodrivetheglobalenergysystemtowardgreenandlow-carbontransformation,consistentlyalignsitsdevelopmentwithnationalstrategicdirections,leveragingaforward-lookingperspectivetoanticipateindustrytrends.ThecompanydeepensitsglobaloperationstopromotebroaderinternationalrecognitionofChina’ssmartmanufacturingbrandvalue.Weremaincommittedtoaddressingenergytransformationthroughtechnologicalinnovationandrespondingtomarketdynamicswithproactivestrategicplanning.Byofferingcustomized,high-valueproductsandservicestoglobalcustomers,weachievesynergisticgrowthbetweendomesticandinternationalmarkets,continuouslyexpandingtheCompany’sglobalmarketcoverageandbusinessdepth.

Feature III

Embracing Global VisionShaping the Era

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

AppendixStock code688676

FeatureForeword

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

FeatureForewordAppendixStock code

688676

Buildingonsteadygrowthinthedomesticmarketandaccumulatedbrandinfluencefromyearsofoverseasstrategicexpansion,JinpanSmartTechnologyisacceleratingthepaceanddepthofitsglobaloperations,advancinginternationalizationtoanewstage.Todate,theCompany’sproductsandsystemsolutionshavebeendeployedinover87countriesandregionsacrosssixcontinents.Coreproductshaveobtained332authoritativeinternationalanddomesticcertifications,includingUL(USA),CE(EU),BV(France),andCSA(Canada).Ourproductsarenowwidelyappliedinfuture-shapingsectorssuchasrenewableenergyandartificialintelligencedatacenters.Lookingahead,wewillfurtherdeepenourglobalmarketpresenceandexpansionbyenhancingmulti-channelinternationalengagement,exploringemergingmarketsandindustries,strengtheningcustomerrelationships,iteratinginnovativeproducts,andbuildingstrategicpartnerships—continuouslyamplifyingourbrand’sglobalvoice.Weremaincommittedtoadvancingwithdetermination,focusingonourcorebusinessandleveragingcontinuoustechnologicalbreakthroughsastheprimaryengineofgrowth.Weareactivelyexploringtheresearch,development,andapplicationofnewproducts,processes,andmaterials,strivingtobuildaninternallycohesiveandexternallyopen,collaborativeindustrialecosystem.Bydeliveringenduringvaluetoourcustomers,weaimtofuelthelong-termvitalityandsustainabledevelopmentoftheCompany

Global Market

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

Appendix

Stock code688676

FeatureForeword

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

Wearecommittedtocultivatinglocalizedtalentpipelinesandactivelyrecruitingprofessionalsfromaroundtheworld,drivingtheimplementationandgrowthofregionalprojects.OurinternationalizedprofessionalteamshavelaidasolidfoundationforCompany’sdeepexpansionintooverseasmarkets.Wewillcontinuetoenhancetheglobalrecognitionofthe"JinpanSmartTechnology"brand,collaboratingtobuildagloballyinfluentialbrandimage.JSTPowerEquipmentinFloridahasbeenhonoredwiththe"TopWorkPlaces2025"awardbyOrlandoSentinelMediaGroupforthethirdconsecutiveyear

Global Talent

Honored with the “2025 Top

Work Places"award for the third

consecutive year

FeatureForewordStock code

688676

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating Governance

FeatureForewordAppendixStock code

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Market Expansion

60MW Solar Grid-Connected Project inSouthern GermanyJinpanSmartTechnologysuppliedpowertransformersforanewlyconstructedhigh-voltagesubstationinEppingen,Germany,forMaxSolar's56MWphotovoltaicpowerstationinGemmingen.

Case

Design OD3Mag Outdoor Circuit Breaker to Provide a Powerful Upgrade Solution for Salem Electric'sUtility SubstationSalemElectricrequiredadurableandhigh-performancecircuitbreakerforitsutilitysubstationupgrade.JinpanSmartTechnologydeliveredtheOD3Magoutdoorcircuitbreaker—featuresaruggedenclosure,reducedexternalfasteners,andadynamicsealingsystemforthetopcoverbushingtominimizemoistureingress.Itsphysicaldimensionsandfootprintmatchexistingbreakers,enablingseamlessintegration.Asanearlyadopterofthemagneticallydrivenoperatingmechanism,OD3Magnotonlymetalltechnicalrequirementsbutalsosatisfiedtheprojectschedule,ultimatelysuccessfullyprovidingcontinuouspowersupplyfortheSalemElectricCompany’sutilitysubstation.

Case

60MW Solar Grid-Connected Project in Southern Germany

Consolidated and Enhanced Market PositionTheGroupachievedtotalsalesordersofRMB8.827billion(excludingtax)forthefullyear,ofwhichexportordersamountedtoRMB3.155billion,accountingfor35.74%oftheGroup'stotalorders,withproductscovering87countriesglobally.Inthewindenergysector,theCompanydeepenedstrategiccooperationwithglobalmainstreamwindturbinemanufacturers,achievingayear-on-yearrevenuegrowthofover39.63%;inthedatacentersector,byseizingtheopportunitiesinAIDCconstruction,salesrevenuesurgedbyover196.78%year-on-year,successfullyservinggreatdomesticandoverseascustomersandenteringthesupplychainsoflarge-scaledatacenters.Liquid-immersedtransformersachievedamilestonebreakthrough,completingtheoverseasdeliveryof345kVextra-highvoltagelargepowertransformers,andtheindependentlymanufacturedlarge-capacity80MVA/110kVtransformerwassuccessfullyputintooperation,demonstratingthestrengthofhigh-endequipment.

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

nvironmentalLeading a Low-CarbonJourney, Co-Building aGreen Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Amidescalatingclimatechallenges,greentransformationhasbecomeaglobalimperative.JinpanSmartTechnology,guidedbycutting-edgeinnovationandasteadfastcommitmenttoresponsibility,isresolutelyadvancingalongthepathofsustainabledevelopment,inalignmentwithChina’sdual-carbonstrategygoals.Webelievethattrueindustrialprogressbeginswithacommitmenttoenvironmentalstewardshipandisrealizedthroughgreeninnovationdrivenbydigitalizationandintelligence.JinpanSmartTechnologyisnotonlycommittedtoestablishingalow-carbonoperationalparadigmwithinitsownenterprise,butalsodedicatedtoempoweringtheindustrialecosystem—collaboratingwithpartnerstoadvancetheclean,efficient,andintelligentevolutionoftheenergysystem.Amidtheurgentimperativetoachieveazero-carbonfuture,sustainedactionandopencollaborationareindispensable.JinpanSmartTechnologystandsreadytopartnerwithallstakeholdersinexploringaharmoniouscoexistencebetweenindustrialadvancementandnaturalecosystems—leveragingdeeptechnologicalexpertiseandsystemicresponsibilitytocontributeindustrialstrengthtowardamoreresilientandsustainablefuture.

JinpanSmartTechnologycontinuouslystrengthensitsenvironmentalgovernanceframework,embeddinggreenandlow-carbonprinciplesacrossstrategy,operations,andvaluechains.Wesystematicallyidentify,assess,andmanageclimate-relatedrisksandopportunities,advancingmeasurableemissionreductiontargets.Multiplezero-carbonfactorieshavebeenestablished.Beyonddeepeningourownoperationaldecarbonization,weactivelyempowerclientsandthebroaderindustrythroughgreenproducts,integratedenergysystems,andresponsiblesupplychains.Fromgridmodernizationandhydropowerdevelopmenttoparkmicro-grids;fromeco-friendlypackagingandsolventrecoverytoprocessinnovation—weembodylifecycleenvironmentalmanagementthroughtangibleinitiativesthatpromoteresourceefficiency,circularity,andbiodiversityconservation.

Our Actions

Our performance

Total GHG emissions (Scope 1 and Scope 2)1,860.56tons of carbon dioxide equivalentScope 1 greenhouse gas emissions1,369.82

tons of carbon dioxide equivalentScope 2 greenhouse gas emissions

490.74

tons of carbon dioxide equivalentGHG emission reduction ratio compared tothe previous year

60.8%

(Greenhouse gas emission data only includes Scope 1and Scope 2 emissions)Total energy consumption6,125.39

tons of standard coal

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code

688676

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

"Zero" Carbon Revelation: Digital Leadership, Carbon Exploration for an Infinite Future

JinpanSmartTechnologyrecognizesthatclimatechangeconstitutesnotonlyaglobalchallengebutalsoadefiningfactorintheCompany’slong-termstrategyandindustrytransformation.AlignedwithChina’sdual-carbonstrategygoals,wearecontinuouslyexploringdiversifiedlow-carbontechnologies,embeddingsustainabilityacrosstheentireproductlifecycleandproducinggreenproductswithgreenenergytoco-buildaresilient,circular,andsustainableecologicalecosystem.Today,wehaveusheredinanewchapterofourzero-carbonjourney:whileadvancingourowndecarbonization,wearenowleveragingdigitalizationandintelligencetofacilitatecollaborativeemissionreductionacrossupstreamanddownstreamindustriesinindustrialtowns,therebycontributingsystematicvaluetosociety'soverallzero-carbontransformation.Guidedbythetargetsofcarbonpeakingby2025andcarbonneutralityby2050,wehaveestablishedacomprehensivegreenevaluationframework,setscience-basedtargetsvalidatedbytheSBTi,andbegundisclosingclimate-relatedfinancialinformationinaccordancewithTCFDrecommendations.ThroughR&Danddeploymentofcleanenergyproductsandintegratedsolutions,weareexpandingtheapplicationofcleanerenergyacrosskeysectors.

Building a sustainable enterprise on a carbon-neutral foundation

JinpanSmartTechnologyhasdevelopedanintegratedenergymanagementsystem,photovoltaicmonitoringandoperation&maintenanceplatform,andrenewableenergycentralizedcontrolsystem,collectivelyenhancingenvironmentalriskgovernanceandenergyuseefficiency.Wedriveemissionreductionsthroughpurchasinggreenelectricityandgreencertificatesoffsetting.Fourzero-carbonfactories—inHaikou,Guilin,Wuhan,andShanghai—arenowfullyoperational,layingasolidfoundationforourzero-carbonambitions.IngreenproductdesignandR&D,weimplementfulllifecyclemanagementandadvancecirculareconomyprinciples.Internally,weempoweremployeestotrackandreducepersonalcarbonfootprintsviaacarboncalculator,promotinglow-carbonbehaviorssuchasgreencommuting,wastesorting,andpaperlessofficepractices.Thisyear,JinpanSmartTechnologycontinuestoadvanceonitszero-carbonjourney,demonstratingsustainedcommitmentacrossproduction,operations,andinnovation.Weareactivelyengagingecosystempartnerstodrivecollectivedecarbonizationacrosstheindustrialvaluechain,buildingamoreresilientandsustainablebusinessecosystem.

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

JinpanSmartTechnologyhasestablishedanormalizedclimateandsustainabilityinformationreportingmechanism.TheESGWorkingGroupregularlyaggregateskeyinformation—includingprogressonclimateactions,identifiedrisks,andtargetachievementrates—preparesspecialreports,andsubmitsthemtotheESGCommitteeforreviewanddeliberation.TheWorkingGroupalsoprovidesperiodicupdatestotheBoardofDirectorsonclimate-relatedtargets,actionplans,andimplementationprogress.Wealsointendtointegrateriskmanagementintotheperformanceevaluationframework,therebyenhancingtheriskawarenessandriskmanagementcompetenciesofallemployees.

Climate-related governance

JinpanSmartTechnologyhasdeeplyintegratedclimategovernanceintoitscorporatesustainabilitygovernanceframework,clearlydefiningtheleaddepartmentsandcollaborativemechanismsforclimate-relatedinitiatives.Throughasystematicorganizationalsafeguard,weensuretheeffectiveimplementationofourclimatestrategyandtheproactivemanagementofassociatedrisksandopportunities.Wefocusonthefullproductlifecycletoconductcarbonfootprintaccountingandmanagement,committedtocontinuouslyimprovingcarbonperformanceacrosstheentirevaluechainandreducingtheclimateimpactofbothoperationsandproducts.TheCompanyhasestablishedathree-tiergovernancestructure:BoardofDirectors→ESGCommittee→ESGWorkingGroup.Eachlevelisassignedclearresponsibilitiesanddivisionsoflaborinclimateandsustainabilityaffairs.

?TheBoardofDirectorsintegratesclimate-relatedrisksintotheformulationofmajorstrategicplans,riskassessmentsystems,andperformanceevaluationframeworks,ensuringthatclimatestrategyandriskmanagementarefullyembeddedintheCompany’sbusinessdevelopment.Boardof DirectorsESG Committee

ESG Working Group

?TheESGCommittee,asaspecializedcommitteeundertheBoard,isresponsibleforregularlyreviewingandevaluatingtheimplementationofclimate-relatedstrategiesandtargets,makingtimelyadjustments,andprovidingoversightandguidanceonpotentialclimate-relatedrisksandopportunitiesfacingtheCompany.?TheESGWorkingGroup,astheexecutivelayer,drivestheimplementationofspecificinitiatives,conducts

periodicassessmentsofclimate-relatedrisksandopportunities,tracksprogressonclimate-relatedactivities,andensurestheeffectivedeliveryofclimate-relatedobjectivesacrossallbusinessunits.

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Fossil Fuel-Dependent Society

?Strictcarbonemissionmanagement?Risingcarbonprices?Increaseinfossilfuelprices,transitioningtowardstheuse

ofcleanerenergy

Strictrequirementsforcarbonemissionmanagementandrisingfossilfuelpricesleadtoincreasedproductpricesandreducedsalesopportunities.RisksOpportunitiesReducedcostsresultingfromtheearlyintroductionofcleanerenergyandleadingthemarketthroughinnovationinlow-carbontechnologies.

Zero-carbon Society?Strictcarbonemissionmanagement?Risingcarbonprices/carbontariffs?Widespreaduseofcleanerenergy?Commonuseoflow-carbonproducts

Delayinadoptinglow-carbontechnologiesandfailuretomeetcarbonemissionmanagementstandardsleadstolostsalesopportunities,whilealsoincreasingR&Dcosts.

Risks

OpportunitiesGrowingdemandfornewenergystorage,increasedsalesofproductswithlowcarbonemissionsthroughouttheirlifecycle.

Thisscenarioanticipatesstricterenergy-savingandlow-carbonregulations,widespreaduseofcleanenergy,andcustomerpreferenceforlow-carbonproducts.

Inthisscenario,energy-savingandlow-carbonregulationsarefragmented,fossilfuelpricesrise,andnaturaldisastersbecomemorefrequent.

1.5℃ Scenario4℃ Scenario

1.5℃

ScenarioStringent Energy-saving/low-carbon regulations →

Preference for Low-carbon product→

Climate change response strategyJinpanSmartTechnologycloselymonitorsnational"dual-carbon"policiesandclimatechangedevelopments,aswellasextremeweatherevents.TheCompanyconductsin-depthassessmentsofthepotentialimpactsofclimatechangeonitsbusinessoperations.Inalignmentwithitsbusinessdevelopmentplansandreferencinginternationalmainstreamclimatescenarioframeworks,theCompanysystematicallyidentifiesclimate-relatedrisksandtransitionopportunitiesrelevanttoitsoperations.Basedonthisanalysis,theCompanyformulatestargetedmitigationandadaptationstrategiestoenhancebusinessresilienceandsustainablecompetitiveness.Climate scenario analysisToassessrisksandopportunitiesunderdifferenttransitionpathways,wereferencepubliclyavailablescenariossetbytheInternationalEnergyAgency(IEA)andtheIntergovernmentalPanelonClimateChange(IPCC),includingSTEPS(StatedPoliciesScenario),APS(AnnouncedPledgesScenario),SSP(SharedSocioeconomicPathways),andRCP(RepresentativeConcentrationPathways).Wehavedevelopedcontrastingfuturescenariomodelsbasedontheseframeworks,servingasthefoundationforriskidentification.

Society Prone to Natural Disasters?Morefrequentwarmweatherglobally?Frequentnaturaldisasterssuchastyphoons,floods,earthquakes

?Risingsealevels

Hightemperaturesleadingtoreducedproductperformanceandshortenedlifespan,necessitatinghigherR&Dcosts;frequentnaturaldisastersmaycauselogisticsdisruptions.

Risks

OpportunitiesIncreaseddemandforenergy-relatedproductsforlarge-scalepowergeneration,salesincreaseforhighlydurabletransformerswithlowpowerdistributionlosses,andenergystoragedevices.

Low-Carbon Consumption Society

?Delayedordisjointedimplementationofenergy-

saving/low-carbonregulations

?Depletionoffossilfuelresources,leadingtowidespread

useofexpensivecleanerenergy

?Widespreaduseofhigh-pricedlow-carbonproducts

Losingopportunitiesduetolateadoptionofcleanenergy,coupledwiththeneedtoincreaseinvestmentsinlow-carbontechnologyresearchanddevelopment.

RisksOpportunitiesSignificantincreaseindemandfornewenergystorage,alongwithincreasedsalesofproductsthathavelowpowerdistributionlossesandlowincarbonemissions.

4℃Scenario

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

RiskOpportunity

Physical risks and opportunityAcuterisks

Frequent typhoons,rainstorms, etc.

Investments in flood prevention and control infrastructure lead toincreased capital expenditures, while damage to facilities resultsin additional costs.

Growing market demand for resilient infrastructureand products

and droughts

Disruptions to supply chains can lead to reduced sales, and lowerrevenue.

Increased market demand for disasterpreparedness equipment, facilities, and productsChronic risks

Rising sea levels

Some of our operations are located in coastal provinces of China,where rising sea levels may cause facility damage or necessitaterelocation, thereby raising corporate infrastructure costs.

Growing market demand for resilient infrastructureand productsIncreased hotweather

Poor employee health conditions can reduce labor productivityand output, thereby impacting revenue.Shortened product lifespan, declining quality and increasedmaintenance costsElectricity consumption restrictions can lead to production halts,reduced output, and revenue loss.

Transitional risks and opportunity

Policies andlegislation

Increase in carbontaxes

Increased costs for energy procurement, leading to increasedproduction and transportation costs

Gaining business opportunities through earlyadoption of clean energy differentiationIntelligent energy management approaches enable"peak-load shifting," improving energy efficiencyand reducing energy costs.Increased export costs for products leading to higher prices andlower sales volumes

Stabilizing costs through early adoption of cleanenergy

Frequent earthquakesIncreasingly stringent

energy-saving/ low-carbon regulations

Strict carbon emission management increases carbonmanagement costs

Increase in sales of energy storage businessStrict requirements for the carbon footprint of the entire productlifecycle, increasing calculation costs

Increased sales opportunities by producing

compliant energy-saving/low-carbon productsIncreased introduction costs for clean energy certificates

Increasingly stringentTechnologies

andinnovation

TechnologiesRapid development of

low carbontechnologies

Increased investment in the development of low-carbontechnologies

Business opportunities for prioritizing highlysustainable productsMissing opportunities due to delayed R&D in decarbonizationtechnologies

Growing market demand for technologies thatenable decarbonizationLow-

Rapid development ofcarbon products

replacing traditionalproducts

Increased investment in clean energy facilities

Increased demand for clean energy and energy-saving productsLoss of market opportunities as traditional products are replacedby low-carbon alternativesMarkets

carbon productsChanges in customer

behavior patterns

Failure to achieve 100% use of clean energy in the productionprocess, resulting in lost sales opportunities

Enhancing brand influence through sustainablevalue chain realizationLoss of market opportunities due to inability to keep pace withcustomer procurement preferences for low-carbon products

Customers achieve sustainability in their own valuechains by purchasing sustainable products

Changes in customerTransition to a circular

economy

Customers not favoring products from resource recycling

Transition from traditional to circular economybusiness modelsIncreased costs due to resource recycling and circulartechnologies

Growing market demand for businesses related tolow-carbon products and energy managementReputation

Rising publicenvironmental

awareness

Damage to reputation due to insufficient efforts in emissionreduction

Sustainable enterprises and sustainable productscan attract more customers

Identifying and assessingclimate risks and opportunities

Throughacomprehensiveassessmentofclimate-relatedrisks,wehaveidentifiedboththerisksandopportunitiesassociatedwithclimatechange.Bystrengtheningourclimateresilience,weendeavortocapitalizeonthedevelopmentalprospectsarisingfromtheglobalenergytransitionandlow-carbontransformation.WeusetherecommendationsoftheTaskForceonClimate-relatedFinancialDisclosures(TCFD)asourprimaryframeworktosystematicallyidentify,assess,prioritize,andrespondtophysicalandtransitionrisks.Atthesametime,weidentifyopportunitiesarisingfromclimatechangetomanageitsfinancialimpactsandcapturedevelopmentopportunitiesinthelow-carbontransition.Wehavedefinedshort-term,medium-term,andlong-termtimeframesforaddressingclimate-relatedrisksandopportunities.Short-termreferstothenext1-2years,medium-termrefersto3-5years,andlong-termreferstofiveyearsandbeyond.Specificclimaterisksandopportunitiesareasfollows:

Short-termShort-termMedium tolong-termMedium tolong-termShort-termMedium tolong-termLong-termMedium-termMedium-

termShort-termShort-termMedium-termMedium-

termShort-termMedium tolong-termMedium tolong-termMedium tolong-termShort-termMedium tolong-termMedium tolong-term

Short-termShort-term

Medium tolong-term

Long-termLong-termMedium-term

Medium tolong-termShort tomedium-termMedium-termMedium-termShort tomedium-term

Medium tolong-termMedium tolong-termShort-termMedium tolong-termMedium tolong-term

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

Risk and opportunity managementJinpanSmartTechnologyhasestablishedasystematicandcomprehensivemechanismformanagingclimate-relatedimpacts,risks,andopportunities,fullyintegratingitintotheCompany’soverallsustainabilityandriskmanagementframework.InalignmentwithinternationalstandardssuchastheBasicNormsforInternalControlofEnterprises,ISO31000:2018RiskManagementGuidelines,andtheCOSOEnterpriseRiskManagementFramework,theCompanyhasformulateditsRiskManagementSystemandfollowsaclosed-loopmanagementprocessof“Identify–Analyze–Respond–Monitor”tocontinuouslyenhanceitsresilienceandstrategicadaptabilitytoclimate-relatedchallenges.Allassessmentsofclimate-relatedrisksignificanceandrelateddecision-makingareguidedandoverseenbytheESGCommittee.TheCompanycontinuouslymonitorsglobal,national,andindustry-leveltrends,promptlyidentifyingregulatorydevelopmentsandpotentialrisksandopportunitiesrelevanttoitsbusiness.Climateriskfactorsareembeddedintodailyoperations,andprogressisregularlyreportedtotheBoardofDirectors.

Climate-related risk and opportunity management processWeimplementasystematic,cyclicalmanagementprocesstoidentify,assess,andmonitorclimate-relatedimpacts,risks,andopportunitiesinastructuredandongoingmanner:

IdentificationThrough policy scanning,scenario analysis, stakeholderengagement, and industrybenchmarking, we compiled acomprehensive list of climate-related risks and opportunities.

Assessment

Using diverse methodologies—including surveys, focus group

discussions, expertconsultations, and scenarioanalysis—we prioritize climaterisks and evaluate thepotential value and feasibilityof opportunities.

Response

Based on evaluation results ofrisks and opportunities, we selectappropriate response strategies,

including risk avoidance, risk

acceptance, risk reduction, and

risk sharing, while alsoestablishing opportunity

conversion projects.

Monitoring

Business departments responsiblefor climate risks update riskinformation and control statusesquarterly on the Company’s riskmanagement platform. The AuditDepartment conducts regular or adhoc supervision and evaluations ofrisk management activities across

departments.

JST

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Policy and regulatoryevolution

The pace and intensity ofadjustments to domestic andinternational carbon pricingmechanisms, energy efficiency

standards, green financepolicies, and other regulatory

frameworks.

Technology development

pathways

Market and supply chain

dynamics

Physical climateevents

The speed ofbreakthroughs andindustrialization in cleanerenergy technologies, low-carbon materials, etc.

Trends in customerdemand for low-carbonproducts, availability ofgreen raw materials, andthe impact of trademechanisms such ascarbon tariffs.

The frequency andintensity of extremeweather events, as well aslong-term temperaturerise and its impact onoperational facilities andregional water resources.

Tostrengthenclimateresilience,weareprogressivelyupgradingprocessesandequipment,optimizingresourceallocation,andenhancingourcapacitytorespondtoclimatechangethroughinitiativessuchaszero-carbonfactorydevelopmentandproductcarbonfootprintaccounting.Wealsomitigatepotentialfinancialimpactsfromphysicalrisks—suchastyphoonsandfloods—throughtargetedinsurancecoverage.Concurrently,wecontinuetoexpandtheprocurementanduseofgreenelectricity.Thisyear,theCompanyactivelyimplementedclimateadaptationmeasures,effectivelysafeguardingoperationsagainstthedirectimpactsofextremeweatherevents.TakingtheHaikoubaseasanexample,inresponsetoseveretyphoons"Matmo"and"Fengshen,"thesiteproactivelyactivatedtyphoonandfloodpreventionprotocols,ensuringthesafeandstableoperationofproductionsystemswithoutmajordisruptionsorassetlossesduetoclimate-relatedincidents.Duringperiodsofsummerheat,theCompanysimultaneouslyexecutedheatstresspreventionprograms,providingfrontlineemployeeswithessentialprotectivesuppliesandhealthsupporttoensureworkforcesafetyandoperationalcontinuity.Fromafinancialperspective,thisyear’sdedicatedinvestmentsincarboncompliancemanagement—specificallyingreenhousegasverificationandproductcarbonfootprintcertification—amountedtoapprox.RMB7.6million.TheseeffortssupporttheCompany’ssteadyprogresstowarditsclimategovernanceobjectivesandlow-carbontransitionpathway.

Climate adaptation assessmentIntheclimateadaptationassessmentprocess,wefocusonthefollowingcategoriesofuncertaintyfactors:

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

Indicators and targetsInresponsetoidentifiedphysicalandtransitionrisksassociatedwithclimatechange,JinpanSmartTechnologyhasprioritizedgreenhousegas(GHG)emissionsmanagementasacoresustainabilityissue,establishingclear,quantifiabletrackingmetricsandscience-basedreductiontargets.TheCompanyiscommittedtoplayingagreaterroleinglobalclimateactionbyaligningitsdecarbonizationstrategywithinternationalbestpractices.TosupportChina’snational“dual-carbon”strategy,JinpanSmartTechnologyformallysubmitteditsapplicationtotheScienceBasedTargetsinitiative(SBTi)in2023,ensuringthatitsemissionreductiongoalsareconsistentwiththegloballyrecognized1.5°Cclimatepathway.TheCompany’sscience-basedcarbontargetsarecurrentlyunderreviewbytheSBTi.Wereaffirmourcommitmenttosystematicallyadvanceemissionreductioninitiatives,continuouslyallocateresources,andachieveallstage-wisecarbontargetsasplanned.Throughtheseefforts,JinpanSmartTechnologyaimstocontributemeaningfullytothelow-carbontransformationofitsindustrychainandbroadersociety.

(by 2030)

Targets (based on the 2022 baseline year)

Reduce Scope 1 and Scope 2 greenhouse gasemissions by at least

50%

Reduce Scope 3 greenhouse gasemissions by at least25%

Short-term targets

(by 2050)

Reduce Scope 1, Scope 2, and Scope 3greenhouse gas emissions by at least

90%

Net zero target

JinpanSmartTechnologyhasestablishedasystematicgreenhousegas(GHG)emissionsmanagementsystem.Wecontinuouslymonitorandaccountfordirectemissions(Scope1)andindirectemissionsfrompurchasedenergy(Scope2)withinouroperationalboundaries,andplantoprogressivelyincludeupstreamanddownstreamvaluechainemissions(Scope3)inourcalculationscope.Thisenablescomprehensiveaccountingandtrackingofcarbonemissionsacrosstheentirevaluechain.ByintegratingGHGemissionsdataintodailymanagementprocesses,wecandynamicallyquantifyemissionperformance,conductin-depthassessmentsofenergyefficiency,andpromptlyidentifyandrespondtopotentialchallengesincarbonmanagement—ensuringtheeffectiveachievementofouremissionreductiontargets.Comparedwith2022,thegreenhousegasemissionsofJinpanSmartTechnologyin2025decreasedbyabout88.4%(Scope1andScope2only),achievingthenear-termemissiontargetearlierthanexpected.

Scope1greenhousegasemissionsrefertocarbonemissionsgeneratedfromthecombustionofdirectenergysourcessuchasnaturalgas,gasoline,anddiesel,aswellascarbonemissionsfromrenewableenergypowergeneration.Scope2greenhousegasemissionsrefertocarbonemissionsgeneratedfromindirectenergysourcessuchaspurchasedgridelectricityandpurchasedgreenelectricity.ThestandardsforaccountinggreenhousegasemissionsarebasedonGreenhouseGases-Part1:ISO14064-1:2018SpecificationwithGuidanceattheOrganizationLevelforQuantificationandReportingofGreenhouseGasEmissionsandRemovals.

Greenhouse gas emission data

Total greenhouse gas emissions(Scope 1 & Scope 2)

Unit: Tons of carbon dioxide equivalent

20238,773.00

20244,749.2920251,860.56

Greenhouse gas emission intensity(Scope 1 & Scope 2)Unit: Tons of carbon dioxide equivalent/RMB 10,000 of revenue2023

0.01

2024

0.007

2025

0.0026

Scope 1 greenhouse gas emissions

Unit: Tons of carbon dioxide equivalent

20231,958.0020241,679.76

20251,369.82

Scope 2 greenhouse gas emissions

Unit: Tons of carbon dioxide equivalent

20236,815.00

20243,069.532025

490.74

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Climate action responseJinpanSmartTechnologyhasembeddedclimatechangeresponseintoitscorebusinessstrategyandoperationalpractices,drivenbyadual-pillarapproachof"OperationalCarbonNeutrality"and"ValueChainEmpowerment."TheCompanyisnotonlycommittedtodeepdecarbonizationofitsownproductionsystemsbutalsoaimstodrivegreentransformationacrosstheentireindustrialchainthroughinnovativetechnologiesandsustainablesolutions.Bysteadilyadvancingitsscience-basedcarbontargets,theCompanyispositioningitselfasaleaderinsustainabledevelopmentwithinthenewenergymanufacturingsector.Thisyear,theCompanycontinuedtoincreasetheproportionofcleanerenergyusageandoptimizeitsenergymix,acceleratingthetransitiontowardagreenandsustainableoperatingmodel.Throughinternalmeetings,trainingsessions,andothercommunicationchannels,wesharespecificGHGreductiondataandactionplans—bothfromourownoperationsandcustomerapplications—ensuringtransparencyandfosteringCompany-wideengagement.

Zero-carbon factory development and implementation

JinpanSmartTechnologyhasindependentlybuiltandisnowoperatingfourzero-carbonfactories(locatedinHaikou,Guilin,Wuhan,andShanghai)andfivegreenfactories(spanningtheabovefourcitiesandYangzhou),formingaleadingclusterofgreenmanufacturingfacilities.Ourzero-carbonfactoriesintegratecarbonneutralityprinciplesthroughoutplanningandoperations.Leveraginganintelligentzero-carbonmanagementsystem,weenableprecisecarbonaccountingandgoalplanning.ThroughIoTtechnology,carbonfootprintsaremonitoredinrealtime,anddigitaltoolsareusedtointegrateenergy-saving,emission-reduction,andcarbonsequestrationmeasures.Wearecommittedtoachievingcarbonbalancewithinourindustrialparks—whereemissionsareoffsetbyabsorption—drivinglow-carbonindustrialdevelopment,greenenergyadoption,andresourcecircularity.

?Energy system park powerdistribution system?Energy storage system &Photovoltaic system

?Park-wide air conditioning

system?Charging pile system andother equipment

?Multi-energy scheduling andmulti-energy coordinationalgorithm?Optimized energy-savingcontrol algorithm for airconditioning?AI algorithm?Factory load prediction

algorithm

?Photovoltaic power

prediction algorithm

?Virtual power plant system?Integrated energy

management system?Park-wide water and gas

monitoring system

?Edge terminal gateway?Edge data gatewayZero-carbonpark energycontrol hub

Zero-carbonpark energy

control

units

Zero-carbonpark energycontrol hub

Zero-carbonpark energycontrolalgorithms

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Z

Since2023,JinpanSmartTechnologyhasactivelyadvancedzero-carbonfactoryconstructiontofulfillitsScienceBasedTargetsinitiative(SBTi)commitments.Bytheendof2025,significantcarbonreductionachievementshavebeenrealizedacrossvariousfacilities,using2022asthebaselineyear:

Haikou Factory:

Annual carbonreduction of

97.63%

Guilin Factory:

Annual carbonreduction of

83.41%

Yangzhou Factory: Annualcarbon reduction of

86.64%

Shanghai Factory:

Annual carbonreduction of

97.81%

Wuhan Factory:

Annual carbonreduction of

96.58%

Enhanced zero-carbon factory operations

Toimproverenewableenergyutilizationandelectricitycostefficiency,WuhanFactorycompletedtheoptimizationofitsPhaseIIphotovoltaicandenergystoragesystemoperationsbytheendofMay2025.Keyinitiativesincludedconnectingtheresidentialarea'selectricalloadtothePhaseIIphotovoltaicpowersupplybusandoptimizingtheenergystoragedischargeschedule.Followingimplementation,thePhaseIIphotovoltaicsystemgeneratedanadditional1.65millionkWhofcleanerelectricityannually,whilethesynchronousgrid-connectedelectricityofPhaseIphotovoltaicsystemalsoincreased.Theenergystoragesystemreleasedelectricityduringpeakandhigh-demandperiods,furtherreducingtheproportionofexpensivegridelectricityprocurement.Theupgradedeliveredsignificantresults:theproportionofelectricityconsumptionduringpeakandhigh-demandperiodsdecreasedfrom46.26%inAprilto27.99%inJuly,effectivelyoptimizingtheenergystructureandachievingsubstantialcostsavings.

Case

Annual additional greenelectricity generation fromPhase II photovoltaic system:

1.65million kWh

Proportion of electricity consumptionduring peak and high-demandperiods (April to July) dropped to:

27.99%

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Smart energy storage peak shaving for low-carbon grid operationsToenhanceregionalgridefficiencyandcleanerenergyintegration,JinpanSmartTechnology'sGuilinEnergyStorageStationemploysanintelligentoperationmodelof"valleycharging,peakdischarging,"transferringcleanerelectricitygeneratedduringnighttimeperiodstodaytimepeakdemandhours.In2025,thestationcumulativelysupplied2,337,800kWhofpowertothegridduringpeakperiods,effectivelydisplacinghigh-carbonfootprintconventionalpowersources.Throughcalculation,thisprojectachievedapproximately1,350.54tonsofcarbondioxideemissionreductions,equivalenttothecarbonsequestrationformedbyplantingapproximately90,000trees.Thisinitiativenotonlydemonstratesthecriticalroleofenergystorageinpowersystempeakregulationandcarbonemissionreductionbutalsoprovidesareplicableoperationalmodelforbuildingaflexible,low-carbonnewpowersystem.

Case

Cumulative peak-period power supply

2.3378million kWh

Reduction in carbon dioxide emissions:

1,350.54tons

2025

Greenhouse gas emissionreduction investment:

RMB

7.6361

million

Direct greenhouse gasemission reductions fromfuel switching:

1.60

tons of carbon dioxideequivalent

Direct greenhouse gasemission reductions from

equipment retrofitting:

236.20

tons of carbon dioxideequivalent

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code

688676

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

Product carbon footprintmanagementArobustcarbonemissiondatamanagementsystemformsthefoundationforpreciseemissionreductioninitiatives.Wecontinuouslyadvancecarboninventoriescoveringbothourownoperationsandvaluechainactivities,whileactivelypursuingproductcarbonfootprintcertificationstoidentifyhigh-emissionstagesanddriveprogressivereductionofcarbonintensityacrosstheentireindustryecosystem.Bytheendof2025,theCompanyhassecuredauthoritativecarbonfootprintcertificationsfor16coreproducts.

Value chain empowermentJinpanSmartTechnologyfullyleveragesitsprofessionalexpertiseingreenpowerequipmentanddigitalsolutionstoactivelycollaboratewithindustrypartnersinbuildingalow-carbonecosystem.WenotonlycontinueinvestinginR&Dfornewenergytechnologiessuchasphotovoltaicsandenergystorage,providingcomprehensivecleanerenergyservicescoveringthe"generation-storage-distribution-consumption"stages,butalsostrivetopromotematuresolutionsinscenario-basedapplications.

Z

Supporting the global low-carbon transition of hydropower with high-end equipment to empower cleanenergy base developmentJinpanSmartTechnologyhasdeepeneditsexpertiseinpowerequipment,empoweringthesustainabledevelopmentofthehydropowerindustry.Currently,theCompany'stransformerproductshavebeensuccessfullyappliedtoover400majorhydropowerprojectsworldwide,includingBaihetan,YalongRiverLianghekouHydropowerStation,andBrazil'sItaipuDam.TheCompanyhascumulativelysignedmorethan570contracts,providingadvancedtechnologytoensurethesafeandstableoperationofpowerstations.TheCompany'sdry-typetransformershavebeenappliedtoover230domesticwindfarms,andhavedirectlyorindirectlyexportedover18,000unitstooverseaswindfarmprojects.Throughcontinuoustechnologicalbreakthroughs,JinpanSmartTechnology'sproductsnotonlymeetstringentenergyefficiencystandardsbutalsoadapttodiverseenvironmentalconditions,offeringcriticalequipmentsupportforcleanerenergybaseconstructionbothdomesticallyandinternationally.

Case

Global major hydropowerproject applications400+projects

Cumulativecontract signings570+contracts

Z

Micro-grid Solutions continuously support the "dual carbon" goalsUndertheguidanceofthe"DualCarbon"goals,JinpanSmartTechnology's"User-SideDualCarbonDigitalIntelligentMicro-gridEnergyManagementSystem"project,developedincollaborationwithcustomers,hassuccessfullyachievedpowerdeliveryandgridconnection.Thisdemonstratestheflexibilityandefficiencyofthesolutionacrossvariousapplications.Thesystem'sadvantagesinoptimizingenergystructureshaveplayedapositiveroleintheconstructionofzero-carbonparksandfactories.Keystrengthsincludemulti-energycomplementarityandintelligentscheduling,energydatavisualizationandsecureenergymanagement,economicbenefitenhancementwithintelligentpredictiveoptimizationscheduling,andcomprehensivedigitalenergymanagement.Thesolutiondeeplyintegratesphotovoltaicengineering,energystoragesystems,anddigitalpowerequipment,providingsolidsupportformicro-gridoperations.

Case

User-side dual-carbon digital intelligentmicro-grid energy management system

Dry-type transformers appliedin domestic wind farms

230+Nos.

Dry-type transformers directly orindirectly exported to offshore windfarm projects abroad18,000+ sets

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

JinpanSmartTechnologyiscommittedtosupportingtheconstructionofabeautifulChinabyintegratingenvironmentalprotectionintoitscorporatedevelopmentandgovernanceframework.Weupholdourenvironmentalcommitmentsandcontinuouslyenhanceourenvironmentalmanagementsystemtoensuretheeffectiveimplementationofenvironmentalmanagementresponsibilities.WestrictlycomplywithenvironmentalprotectionlawsandregulationsincludingtheEnvironmentalProtectionLawofthePeople'sRepublicofChina,theLawofthePeople'sRepublicofChinaonthePreventionandControlofAtmosphericPollution,theLawofthePeople'sRepublicofChinaonthePreventionandControlofEnvironmentalPollutionbySolidWaste,andtheLawofthePeople'sRepublicofChinaonPreventionandControlofWaterPollution,aswellasapplicablelocalregulationsinouroperatingregions.Basedonourmanufacturingoperationscharacteristics,wehavesystematicallyestablishedandimplementedcontrolproceduresforwastewaterandsolidwastemanagement.Throughsourcemanagementandprocessgovernanceapproaches,westrictlycontrolresourceutilizationandpollutantemissionsthroughoutproductionandoperationalprocesses,achievinggreenproductionandgreenoperations.In2025,JinpanSmartTechnologyexperiencednoenvironmentalviolations,andemissionsfromproductionandoperationsdidnotcausesignificantimpactsonemployeesorlocalcommunityresidents.Wehavereferredtorelevantnationalstandardsand,inconjunctionwithourCompany’scircumstances,establishedenvironmentalmanagementobjectivesthatcoveralloperationalproductionbasesofJinpanSmartTechnology(with2024servingasthebaselineyear):

Cultivating Robust Environmental Management

IndicatorsUnitYear 2025Year 20242025 vs. 2024TargetNational standardsCOD Emission Concentration ofIndustrial Wastewater

mg/L

80.00

60.6731.86%

The discharge concentration of COD ofindustrial wastewater shall not exceed

150mg/L

500mg/L(Integrated Wastewater Discharge

Standard-GB8978)Volatile organic compounds (VOCs)

emission concentrations

mg/m?

2.63

2.826.76%

Volatile organic compounds (VOCs)emission concentrations shall not exceed

10mg/m?

120mg/m?(Integrated Emission Standard of Air

Pollutants (GB 16297)Industrial wastewater discharge

intensity

Tons/RMB10,000

0.033710.03729.29%

Reduce industrial wastewater discharge

intensity by 10% by 2030 compared to

the 2024 baselineNon-hazardous wastegeneration density

Tons/RMB

10,000

0.00507

0.00511.41%

Reduce non-hazardous waste emissiondensity by 5% by 2030 compared to the

2024 baseline

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

JinpanSmartTechnologyhasestablisheditsEnvironmentalReviewPlan,inwhichincludessystemregularinternalauditsandmanagementreview,managementofallidentifiedissuesthroughaclosed-loopcorrectiveactionprocess,ensuringsustainedreductionofenvironmentalrisks.

Environmentalmanagement review

TheCompanydesignatestheGeneralManagerastheprimaryresponsiblepersonforenvironmentalprotection.EachproductionbaseisequippedwithdedicatedEHS(Environment,Health,andSafety)personnel,reinforcingon-the-groundimplementationandcompliance.TheCompanyhasimplementedsystematicenvironmentalperformancemanagementthroughtheestablishmentofenvironmentalperformanceindicatorsandclearresponsibledepartments.Thisstructuredapproachensuresthatenvironmentalobjectivesarealignedwithbusinessstrategy.

Environment governance

structure

JinpanSmartTechnologyhasincorporatedsafetyandenvironmentalprotectionintotheannualcoreperformanceindicatorsforfactorygeneralmanagers,establishingarobustevaluationandaccountabilitymechanismtoensureeffectiveimplementationofenvironmentalmanagementgoals.

Environmentalperformance structure

Environmental management systemJinpanSmartTechnologyhasestablishedasystematicinstitutionalframeworkinaccordancewiththeISO14001EnvironmentalManagementSystemstandard.TheCompanyhasdevelopedandimplementedpolicydocumentscoveringallenvironmentalimpactfactors,includingtheWaterPollutionPreventionandControlProcedure,theAirPollutionPreventionandControlProcedure,andtheNoiseandVibrationPollutionPreventionandControlProcedure,providingrobustinstitutionalsupportforenvironmentalmanagement.Duringthereportingperiod,JinpanSmartTechnologyhavesuccessfullyobtainedISO14001EnvironmentalManagementSystemcertification.Weactivelyassesstheoperationalimpactsofenvironmentalrisks.In2025,100%ofouroperatingsitesunderwentspecificenvironmentalriskassessments,ensuringcomprehensiveidentificationandmitigationofpotentialecologicalandregulatoryrisksacrossallfacilities.ToensuretheeffectiveoperationofourenvironmentalmanagementsystemanddrivetheCompany’stransformationintoaresource-efficientandenvironmentallyfriendlyenterprise,wefocusonthefollowingthreekeyareas:

Inaddition,theCompanyextendsitsenvironmentalrequirementsintosupplychainmanagementbyformulatinggreenprocurementpoliciesandconductingenvironmentalassessmentsofsuppliers,encouragingitspartnerstojointlyfulfilltheirenvironmentalresponsibilitiesandworkingtogethertobuildasustainablegreensupplychainsystem.

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Energy managementJinpanSmartTechnologystrictlyadherestolawsandregulationssuchastheLawonEnergyConservationofthePeople'sRepublicofChina,continuouslyimprovesitsenergymanagementsystem,optimizesenergystructure,andexplorespotentialforenergyefficiencyenhancementtoenhanceenergyutilizationefficiency.Asoftheendofthereportingperiod,subsidiariesincludingHainanJinpan,GulinJuntaifu,WuhanJinpanIntelligent,ShanghaiJinpan,andYangzhouJinpanhaveobtainedISO50001EnergyManagementSystemcertification.Optimizing energy managementJinpanSmartTechnologyhasindependentlydevelopedandcontinuouslyupgradedmultipleenergymanagementsystemscenteredondigitalization,establishingenergyconsumptiondataapplicationandservicesystems.Byleveragingintelligentmonitoringanddataanalytics,wehaveinnovativelyadvancedintegratedenergymanagementinsmartparksandpioneeredadistributedassetmanagementmodelforindustrialzones—significantlyexpandingsystemcoverageandhelpingparksreducetheirenvironmentalfootprint.OurIntegratedEnergyManagementSystem(IEMS)integratesmultipleadvancedplatforms,including:PhotovoltaicMonitoringandO&MSystem,NewEnergyCentralizedControlSystemandVirtualPowerPlant(VPP)System.Throughintelligentmonitoringanddataanalysis,thesystemincreasestheproportionofcleanandcleanenergyusage,reducesenergywaste,andlowersgreenhousegasemissions.Byintegratingenergystoragefacilitiesanddistributedenergyresources,theIEMSenhancesoverallenergyefficiency,promotestheabsorptionofcleanerenergy,andenablescascadedenergyutilization—drivinggreen,low-carbondevelopmentacrossindustrialparks.

Thephotovoltaic(PV)monitoringandoperation&maintenance(O&M)systemplaysacriticalroleinimprovingpowergenerationefficiency,reducingoperationalcosts,optimizingenergyutilization,andadvancingcleanerenergydevelopment.ByleveragingintelligentO&Mtechnologies,thesystemsignificantlyenhancestheefficiencyandstabilityofPVpowerplants,minimizesdowntimeduetofailures,andlowersmaintenanceexpenses.

Thenewenergycentralizedcontrolsystemenablesunified,centralizedmonitoringandmanagementofgeographicallydispersedsubstationsbyintegratingdataacquisition,controlfunctions,andelectricalenergycollectionwithaggregatedcomputation.Throughthereal-timeflowofdata—“connection,movement,storage,processing,andanalysis”—combinedwithbigdataanalyticsandartificialintelligence(AI),thesystemguidesoptimizedpowergenerationstrategies,reduceslostenergy,andsignificantlyimprovestheoperationalefficiencyofnewenergypowerplants.

Wesuccessfullydevelopedthevirtualpowerplant(VPP)aggregationplatformsystemforpark-scaleapplications.Builtonacloud-edgecollaborativearchitecture,thesystemintegratesandcoordinatesdistributedenergyresources(DERs)withinindustrialparks—suchasdistributedphotovoltaic(PV)systemsandenergystorage—enablingunifiedaggregationanddynamicdispatch.Leveragingproprietaryforecastingandoptimizationalgorithms,itachievesaccuratepredictionofPVgenerationoutputandreal-timeoptimizationofenergystoragecharging/dischargingstrategies,ensuringinstantaneousbalancebetweenpowersupplyanddemandwithinthepark.Thesystemplatformsignificantlyenhancesrenewableenergyutilization,reducesrelianceontheexternalgrid,andgeneratesstableandsubstantialeconomicreturnsthroughparticipationingridancillaryservicesandpeak-valleypricearbitrage.Coretechnologieshavebeenvalidatedandarereadyforlarge-scaledemonstration.Thesystemwillbepromotedacrosshigh-energy-consumptionscenariossuchasindustrialdevelopmentzonesandcommercialcomplexes,supportingparksinachievingintelligent,low-carbon,andhighlyefficientoperations.

Photovoltaic monitoring and operation &

maintenance system

Renewable energy centralized control system

Virtual power plant system

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code

688676

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

2025

JinpanSmartTechnologyhasdeployedaphotovoltaicpowergenerationprojectwithtotalinstalledcapacityof23.75MW.Duringthereportingperiod,ithascumulativelygenerated20,361,800kWhofcleanelectricity,ofwhich15,759,600kWhwassuppliedtoitsownfactoryand4,602,200kWhwasdeliveredtothepowergrid.

Adoption of cleaner energyTheadoptionofcleanenergyplaysacrucialroleinachievingcarbonneutralitytargets,adjustingenergystructures,andpromotingsocialharmonyandeconomicstability.Thisyear,JinpanSmartTechnologyhasactivelydeployedandutilizedcleanenergysources,includingsolarpower,geothermalenergy,andgreenelectricity,toreducerelianceonfossilfuels.JinpanSmartTechnologycontinuestoimproveenergyefficiencyandincreasetheproportionofcleanenergyusage.In2025,theCompany'scleanenergyconsumptionincreasedby45.35%comparedto2024,sothatcleanenergyutilizationratein2025reached89.17%.

Wuhan Jinpan Intelligent——Geothermal heatpump system implementationWuhanJinpanIntelligenthascomprehensivelydeployedhigh-efficiencygeothermalheatpumpairconditioningsystemsacrossfactorybuildingsandofficecomplexes.Theintegratedsystemcombinesfirst-gradeenergyefficiencygeothermalheatpumps,chillerunits,andair-sourceheatpumpunits,whileimplementingheatrecoveryfordomestichotwatersupply.Thiscomprehensiveapproachdeliverssignificantlysuperioroverallenergyefficiencycomparedtoconventionalairconditioningsystems.In2025,thesystemisprojectedtoconsume2.87millionkWhofelectricity,representinga310,000kWhreductioncomparedtotraditionalairconditioningsolutions,andachievinganenergysavingsrateofapproximately10%,therebyeffectivelyreducingtheoperationalcarbonemissionsandenergycosts.

Case

Expected electricity use by the geothermal heat pumpair conditioning system

2.87million kWh

Saving of electricity use compared to the traditional airconditioning unit solution310,000kWh

Total energy consumption6,125.39tons of standard coal equivalent

Total amount of wind energy used

659.36

tons of standard coal equivalent

Proportion of wind energy utilization

10.76%

Total amount of solar energy used4,790.96tons of standard coal equivalent

Energy consumption intensity

0.0084

tons of standard coal equivalentRMB 10,000 of Revenue

Proportion of solar energy utilization

78.21%

Cleaner energy generation20,361,800kWh

Proportion of cleaner energy use

89.17%

Carbon reduction from cleaner energy use11,763.01tons of carbon dioxide equivalent

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Water resource managementJinpanSmartTechnologystrictlyadherestoapplicablelawsandregulationsinitsoperationallocations,includingtheWaterLawofthePeople'sRepublicofChina,theLawonthePreventionandControlofWaterPollutionofthePeople'sRepublicofChina,andtheActionPlanforImprovingIndustrialWaterEfficiency.TheCompanyintegrateswaterconservationandefficientutilizationintodailyoperationsasacoresustainabilitypractice.TheCompanycontinuouslypromoteswaterconservationprocesses,andstrengthensemployeeawarenessofwaterconservation.Theseeffortscollectivelyenhancetheefficiencyofwaterresourceuseacrossalloperationalsites.Wehaveestablishedclearwaterconservationtargetsandimplementedaseriesofmeasuresfocusedon"reduction,reuse,andefficiencyimprovement."

2025

Water consumption:

185,413.89tons

TheCompanywillcontinuetoadvancerefinedwaterresourcemanagementandexploremoreefficientandsustainablemodelsofwaterutilization,fulfillingitscorporateresponsibilityinprotectingwaterresourcesandtheecologicalenvironment.Thisyear,theCompanyencounterednodifficultiesinsecuringwatersources.

TheCompanyhasfullyintroducedadvancedwaterconservationequipmentandimplementedtechnicalupgradesforhigh-water-consumptionprocesses,significantlyreducingfreshwaterintakeatthesource.

JinpanSmartTechnologyimplementsrainwaterandwastewaterseparationinoperationsandhasestablisheddedicatedwastewatertreatmentsystemsinproductionfacilities.AttheHaikouDigitalFactory,the“RixinMembraneWastewaterTreatmentSystem”isadoptedtoeffectivelyremovesuspendedsolids,organicmatter,andotherpollutantsthroughphysicalfiltration.TreatedproductionwastewatermeetstheGradeIIstandardoftheIntegratedWastewaterDischargeStandard(GB8978-1996),enablinganaveragedailyreuseofapproximately5tonsofreclaimedwater—significantlyenhancingwaterrecyclingrates.AttheShaoyangfactory,coolingwateroperatesonaclosed-looprecirculationsystem,withnodischargetotheexternalenvironmentexceptfornaturalevaporation.

Water conservationTechnologies and Equipment

Water resource recycling

Water use intensity:

0.25ton/RMB 10,000 of Revenue

Water reuse volume

1,431tonsTotal quantity of water recycled and reused

1,431tonsWater conservation

32,400tonsWater use intensity decreased

14.88%

Industrial wastewater discharge24,588tonsIndustrial wastewater discharge intensity

0.03ton/RMB 10,000 of Revenue

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Waste gas managementJinpanSmartTechnologystrictlyadherestotheIntegratedEmissionStandardofAirPollutantsandallapplicablenationalandlocalenvironmentalregulations,implementingsystematicandstandardizedmanagementofwastegasemissionproductionoperations.Tocontinuouslyminimizeenvironmentalimpact,ensurecompliancewithemissionstandards,andachievewastegasemissiontargets,allproductionbasesoftheCompanyareequippedwithcomprehensivewastegascollectionsystemsandend-of-pipetreatmentfacilitiesasrequiredbyenvironmentalimpactassessments.Thesesystemsensurethatwastegasesareeffectivelycollectedandtreatedthroughenvironmentalprotectionequipmentbeforereachingstandardemissionlevels.Simultaneously,eachfactoryactivelyimplementsprocessoptimizationandequipmentupgradestoreducewastegasgenerationatthesource.

Z

Adoption of grinding-free casting process—preventing dust generation at thesourceand reducing material waste

Topromoteenvironmentallyfriendlymanufacturing,JinpanSmartTechnologyhasintroduceda"grinding-freeprocess"inthecoilcastingprocess.Byplacingaspecializedcompositefilmbetweenthecoilsurfaceandthemoldjoint,resinflashiseffectivelyisolatedduringcasting.Aftercuring,thefilmissimplypeeledoff,eliminatingtheneedforpost-processinggrinding.

Case

2025

Nitrogen oxide (NOX) emissions

0.93tons

Sulfur dioxide (SO2) emissions0tons

Volatile organic compounds (VOCs) emissions

0.51tons

Particulate emissions

4.47tons

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

Packaging materials and wasteUndertheguidanceofcirculareconomyprinciples,JinpanSmartTechnologyiscommittedtoadvancingthegreentransformationofpackagingmaterialsandimplementingsystematicwastegovernance.TheCompanyintegratesecologicaldesign,wasteminimization,andharmlessnessintoeverystageofproductionandoperations,activelybuildingaresourcerecyclingsystemthatspanstheentireproductlifecycle.Toreduceenvironmentalimpactfromthesource,theCompanycontinuouslypromotescleanerproductionandprocessimprovements.Thisincludesthewidespreadadoptionoflow-volatilityrawmaterials,optimizationofcoatingprocessestominimizeemissions,andtheintroductionofsolventrecoveryequipment.Waste disposalJinpanSmartTechnologycomplieswiththeLawofthePeople'sRepublicofChinaonthePreventionandControlofEnvironmentalPollutionandtheGuidelinesofthePeople'sRepublicofChinaontheEstablishmentofManagementLedgersforIndustrialSolidWastes(Trial),inalignmentwithnationalandlocalregulatoryupdates.IntegratedwiththeISO14001EnvironmentalManagementSystem,theCompanyhasestablishedacomprehensivewastelifecyclemanagementframework.Clearresponsibilitiesaredefinedacrossorganizationallevels,drivingsystematicreduction,resourcerecovery,andsafedisposalofwastetominimizeenvironmentalimpactsfromproductionandoperations.

Packaging greening and circularityToachievewastereductiontargetandbuildagreenenterprise,JinpanSmartTechnologyhassignedtheCommitmentLetterfortheGreenPackagingActionPlanandtheJointImplementationCommitmentforGreenPackaging.TheCompanyhasestablishedandrefinedaseriesofinstitutionalframeworks,includingtheProductPackagingProcurementPolicy,ProductPackagingManagementSystem,andPackagingRecyclingandReuseManagementMeasures,tostandardizegreenpackagingprocurementandpromoteclosed-looprecyclingoperations.

JinpanSmartTechnologyhasformulatedandimplementedtheGreenPackaging,Warehousing,andTransportation(ImplementationPlan),systematicallyadvancingthelightweighting,circularity,andlow-carbontransformationofpackagingmaterials.Withininternallogistics,theCompanyhasactivelypromotedreusablemetalpackagingandtransferracks,replacingsingle-usewoodenandpaper-basedmaterials.Thisshifthassignificantlyreducedannualpackagingwastegeneration.JinpanSmartTechnologyconductsfulllifecycleassessmentsofpackagingsystems,optimizingstructuraldesign.In2025,throughstructurallightweightingimprovementstotransformerbases,theCompanyachievedreducedmaterialconsumptionwhilefullymaintainingtransportationsafety.Inaddition,theCompanyhasstrengthenedsourcecontrolinthestorageofliquidmaterialsandchemicalsthroughengineeringmeasures,includingtheinstallationofleakcontainmentsumps,dedicatedchemicalstoragecabinets,epoxyresinflooring,andspillcollectionsystems.Theseenhancementseffectivelypreventleakageandeliminatecontaminationrisks.

Aftersystematiccategorizationandcollection,thecollectedwasteistransferredtoqualifiedthird-partypartnersforresourcerecoveryorcompliantdisposal

Generalindustrial solid

waste

Domestic

wasteAllwastesareuniformlyhandledbyprofessionalsanitationdepartmentstoensureproperprocessing.

Itistemporarilystoredinadedicatedstorageareawithanti-seepage,leak-proofandrainproofmeasuresaswellaswarningsigns.Alicensedentityisentrustedwithitssafedisposal,withtheimplementationoftransfermanifestandaccountmanagementinaccordancewiththelaw,andregularfilingsaresubmittedtotheregulatoryauthorities.

Hazardouswaste

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Promote waste reduction atsource systematicallyJinpanSmartTechnologyissystematicallyadvancingmechanismforpackagingrecyclingandreuse,collaboratewithsupplierstoachievetargetedrecoveryandreuseofpackagingmaterials,andproactivelyrespondtoandimplementspecificpackagingrecoveryrequirementsfromcustomers.Tosupportcontinuousoptimization,theCompanyleveragesitsself-developeddigitalsystems—includingMESandtheenergymanagementplatform—toachievefulldatatraceabilityandvisualizedmanagementofwastegeneration,transfer,anddisposal.Thisyear,JinpanSmartTechnologyhasmetHaikouCity's“Zero-WasteFactory”constructionassessmentrequirementsandobtainedthe“Zero-WasteCityCell”certification.

Z

Jinpan Smart Technology's Haikou Digital Factory has implemented solvent recovery

technology to achieve source reduction of hazardous waste and resource recycling.

Inordertopracticegreenproduction,JinpanSmartTechnology'sHaikouDigitalFactoryhasintroducedadvancedsolventrecoveryequipmentinthecoresprayingprocesstoefficientlyrecoverandtreatwastediluentfromcleaningsprayguns.Thisequipmentcanrecycle95%ormoreofwasteorganicsolvents,achievingresourcerecyclingandreuse.Followingprojectimplementation,theworkshophassignificantlyreduceditsannualthinnerconsumption—approximately2,500litersperyear—effectivelyminimizinghazardouswastegenerationandemissionsatthesource.Thisproactiveapproachnotonlyalleviatesenvironmentalburdenbutalsoreducesrawmaterialprocurementcostsandhazardouswastedisposalexpenses.

案例

2025

Total non-hazardous waste3,701.63tons

Non-hazardous waste intensity

0.00507

ton/RMB 10,000 of Revenue

Kitchen waste0tonsQuantity of waste cardboard

199.09tons

Total hazardous waste

106.55tons

Total amount of hazardous waste

0.000146

kg/RMB 10,000 of Revenue

The total amount of operational wastetransferred from landfills accounts for

66.03%

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code

688676

Empowering a greenecosystemJinpanSmartTechnologyiscommittedtobuildinggreenproductsthrougheco-friendlymaterialsanddesign,optimizingproductionprocessestoreduceenergyconsumptionandwaste,andimplementingintelligentoperation&maintenanceandrecyclingsystems.TheCompanyconductscomprehensivelifecycleassessmentstominimizeenvironmentalimpact.Beyondmanufacturing,theCompanyactivelypromotesnaturalecosystemprotection,practicesgreenofficeinitiatives,anddrivesgreentransformationacrosstheindustrialchain,reinforcingourresponsibilityinbuildingasustainablefuture.

Green products and circulareconomyJinpanSmartTechnologyprioritizesthedesignandR&Dofgreenproducts,integratingcirculareconomyprinciplesintotheentireproductlifecycle.TheCompanyiscommittedtomaximizingresourceefficiencyandminimizingenvironmentalimpactthroughsystematicoptimizationindesign,production,andend-of-liferecovery.AclearresourcerecyclingtargethasbeenestablishedandembeddedacrossR&D,manufacturing,operations,andservicedelivery.

JinpanSmartTechnologyintegratesecologicaldesignprinciplesattheearlieststageofproductdevelopment,prioritizingtheuseofrenewableandrecyclablematerials—suchasbio-basedplasticsandrecycledmetals—whilestrictlycontrollinghazardoussubstancesincompliancewithinternationalstandardslikeRoHS.Throughmodulardesignandease-of-disassemblystructures,theCompanyenhancesproductrepairability,upgradability,andend-of-lifematerialrecoveryefficiency.Inparallel,theCompanyactivelyadvancespackaginglightweightingandstructuraloptimization,reducingrawmaterialusagewithoutcompromisingtransportationsafety.

Green design: Source prevention and material circulation

JinpanSmartTechnologyhasfullyimplementedenergy-efficientequipmentandgreenmanufacturingprocessesacrossproductionoperations,significantlyreducingenergyconsumptionandgreenhousegasemissions.Simultaneously,weenforcestrictwastemanagementpracticestoensurethatallwasteisproperlydisposedofandrecycledandutilized,minimizingtheburdenontheenvironment.Intermsofsupplychainmanagement,wecollaboratewithsupplierswhoexhibitastrongenvironmentalawarenesstoensurethatourrawmaterialsourcesmeetsustainabilitystandards.

Cleaner production: Resource conservation and process recycling

JinpanSmartTechnologyleveragesIoTandintelligentmanagementsystemstoenablereal-timemonitoringandpredictivemaintenanceofcriticalequipmentsuchasenergystoragesystems.Thisproactiveapproachextendsequipmentservicelife,improvesoperationalefficiency,andreducesresourcewastecausedbyunexpectedfailuresorperformancedegradation.

Intelligent operations: Extending equipment lifespan and enhancing energy efficiency

Wecloselycollaboratewithprofessionalrecyclingagenciestodevisecomprehensiverecyclingplansandimplementsintegratedrecoverysolutionsacrossproducts,packaging,andproductionwaste.Weadopttailoredrecyclingmethodsfordifferentmaterialtypes,minimizingtheaccumulationofharmlesswasteandmitigatingtheenvironmentalimpactofhazardouswaste,therebyloweringproductioncostsandresourceconsumption.

Recycling: Closed-loop system and value regeneration

Product and packaging recyclingJinpanSmartTechnologycollaborateswithprofessionalrecyclingagenciestodevelopdifferentiatedrecyclingsolutions,andimplementstargetedrecoveryandre-circulationofpackagingmaterialssuchastransportpalletsaccordingtospecificcustomerrequirements.

Internal circulation practicesJinpanSmartTechnologypromotestheuseofreusablemetalpackaginginintra-grouplogistics,replacingdisposablewoodenandpaper-basedmaterials,significantlyreducingpackagingwasteandassociatedcarbonemissions.

Resource recovery ofproduction by-productsThroughprocessoptimizationandtechnologyadoption(e.g.,thesolventrecoverysystematHaikoufactory),JinpanSmartTechnologyenablescircularutilizationofby-productssuchaswastesolventsandoff-cuts,reducinghazardouswastegeneration.

TheCompanyconductsafulllifecycleenvironmentalimpactassessmentfordry-typetransformers,analyzingenvironmentalimpactsateachstageandusingitasareferenceforenvironmentallyfriendlyandgreendesignthroughouttheproduct'slifecycle.

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Z

Promoting reusable metal packaging for green logisticsToreducepackagingwasteandlowercarbonfootprintinlogistics,JinpanSmartTechnologyhassystematicallypromotedtheuseofreusablemetalpackagingforinternalcargotransportationamongitsmajorproductionbasesinHaikou,Wuhan,andGuilin.Designedwithrobuststructureandhighdurability,thisreusablepackagingeffectivelyreplacestraditionalsingle-usewoodenandpaper-basedmaterials.Thisinitiativehasnotonlysignificantlyreducedthegenerationofpackagingwaste,butalsoloweredcarbonemissionsassociatedwiththeproductionanddisposalofpackagingmaterials.

CaseThepercentageofwasteelectricalandelectronicequipment(WEEE)collectedbytheCompanyinthecurrentyearrelativetothetotalamountofelectricalandelectronicequipment(EEE)placedonthemarketis0.0545%.

Green office initiatives

JinpanSmartTechnologyintegratesgreenofficeprinciplesintoitsdailyoperationsandcorporateculture,activelypromotingandpracticinglow-carbon,environmentallyfriendlyworkandlifestyles.Weencourageallemployeestoparticipateinsustainabilityefforts,startingwithsmalldailyactionssuchasgreencommuting,paperlessofficepractices,andresourceconservation,collectivelybuildingasustainableworkenvironment.Tosystematicallyadvancecarbonreductioninofficeoperations,theCompanycontinuouslyimprovesitsgreenhousegasaccountingsystem,graduallyexpandingthescopeofScope3emissionscalculationstoenhancethecompletenessandtransparencyofcarbonmanagement.Additionally,weimplementagroup-widepaperconservationandrecyclingprogram,encouragingemployeestoadoptdouble-sidedprintingandreusesingle-sidedpaper,therebyreducingpaperconsumption.Intermsofprocessdigitization,theCompanyhasestablishedaunifiedelectronicsealmanagementplatform,fullypromotingonlinecontractanddocumentsigning.Thisnotonlyimprovesoperationalefficiencyandcompliancemanagementbutalsosignificantlyreducestheuseofpaperdocuments,achievingdualgoalsofresourceconservationandprocessoptimization.In2025,theoverallusagerateofelectronicsealsreachednearly50%.

Biodiversity conservationJinpanSmartTechnologysystematicallyassessesandmanagesthepotentialnegativeimpactsofitsbusinessactivitiesontheecologicalenvironmentinaccordancewiththelaws,regulations,standards,andtechnicalrequirementsofitsoperationallocations.TheCompanycontinuouslyimprovesandoptimizesenvironmentalprotectionmeasurestosafeguardlocalecosystems.Throughouttheprojectdevelopment,construction,andoperationphases,JinpanSmartTechnologymaintainsongoingattentiontoecologicalimpacts,strictlyadherestonationalandlocalecologicalredlinecontrols,andpreventsharmtobiodiversityandecosystems.TheCompanyrespectsandvaluesbiodiversityinareassurroundingitsoperations,minimizingdisruptiontothenaturalenvironmentthroughscientificsiteplanningandrationalgreeningpractices.Thisyear,theCompanyconductedduediligenceonongoingconstructionprojectsandcommissionedthird-partyenvironmentalassessments.TheDataCenterPowerModuleandHigh-EfficiencyEnergy-SavingPowerEquipmentIntelligentManufacturingProject(Tongxiang)underwentanenvironmentalimpactassessmentbyaprofessionalexternalfirm,strictlyadheringtothe“ThreeSimultaneitiesSystem”environmentalprotectionrequirements.Pollutantsubstitutionandreductionmeasureswereimplementedtoensureenvironmentalcomplianceduringconstructionandpreventecologicalimpacts.Priortoconstruction,theCompany'sShaoyanggreenindustrialparkconducteddetailedassessmentsofpotentialimpactsonvegetation,wildlife,soilerosion,andlandscapeduringbothconstructionandoperationalphases.Thelayoutwasoptimizedtoavoidecologicallysensitiveareas,andconstructionpracticeswerestandardizedtoreducevegetationcompactionanddisturbance.Intermsofecologicalcompensation,aprofessionalteamdesignedthegreeningplan,achievingagreenspaceratioexceeding20%.Comprehensivebaselinesurveysofthelocalecologicalconditionswerealsocarriedout.Thisyear,theCompanyhasnotconductedanyproductionoroperationalactivitieswithinecologicalprotectionredlinezones,norhasitcauseddirectorsignificantimpactsonkeyecologicalfunctionareas—whetherterrestrialormarine—protectedareas,orotherecologicallysensitiveandvulnerableregions.Movingforward,weremaincommittedtotheprincipleof"ecologicalpriority,greendevelopment."TheCompanywillcontinuetomonitorpolicyupdatesandecologicalchanges,enhanceenvironmentalmanagementcapabilities,andactivelyfulfillitscorporateresponsibilityforecologicalconservation.Bydoingso,weaimtocontributetotheharmoniouscoexistenceofhumanityandnature.

0.0545

%

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

ocial

Co-Creating Valuethrough Innovation for aShared Future

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

Wearegroundedinprofessionalexpertise,committedtodeliveringhigh-qualityproductsandservicestoourcustomers.TalentisthecoredriverofourCompany’sgrowth,wedeeplyvaluethedevelopmentofeveryemployeeandstrivetofosteradiverse,equitable,andinclusiveworkplacewhereindividualsareempoweredandcollaboratetocontinuouslycreatevalue.Simultaneously,weactivelyfulfilloursocialresponsibilitiesbysupportingruralrevitalizationandpromotingsocialinclusion,partneringwithstakeholderstobuildasustainablefuturetogether.

JinpanSmartTechnologydrivessustainabledevelopmentthroughinnovation,deliveringlastingvaluetocustomerswithexceptionalproductquality.Weadvancehandinhandwithpartnerstopropelindustryprogressandupgrading,growalongsideouremployees,andempowereveryindividualtoachieveextraordinarypotential.Simultaneously,weactivelyengageinruraldevelopment,unitingwithstakeholderstofosteraninclusiveandsustainablefuturetogether.

Our Actions

Our performance

Total amount of R&D investmentRMB357million

Total employee training duration:

185,100hoursCustomer satisfaction

98.39%

Number of suppliers

1,591

Number of employees

2,286employees

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

R&D and innovationWearecommittedtodrivingdevelopmentthroughinnovation,deliveringhigh-qualityproductsandservicestoourcustomers,andcreatingrichervalue.Wecollaboratecloselywithcustomers,activelyrespondtodiverseneeds,continuouslyenhanceserviceexperiences,andachievemutualgrowth.Governance

WecontinuetoadheretotheguidingprinciplesoftheR&DProjectManagementSystemandtheMajorTechnicalDevelopmentProjectIncentiveSystem,whilefurtheroptimizingprojectcategorizationandincentivecriteriatoaligninnovationwithstrategicdevelopmentdirections.Thisinitiativeaimstosustainablydrivetechnologicalbreakthroughs,motivatespecializedtalenttodeepentheirexpertiseincoretechnologyR&D,andactivelytackleindustry-widekeytechnicalchallenges.JinpanSmartTechnologyfirmlyregardsinnovationasthefundamentalsourceofsustainabledevelopmentandvaluecreation,havingestablishedamulti-levelR&DarchitecturealignedwiththeCompany’sstrategicobjectivestoconductforward-lookingresearch.Simultaneously,eachproductlinedivisioncloselyrevolvesaroundmarketdemands,continuouslyiteratingandinnovatingtodeliversolutionstailoredtokeyapplicationscenarios—includingenergyandpowersystems,energystorageapplications,anddigitalmanufacturingmodels.

JinpanSmartTechnologyfirmlybelievesthatthevalueofacorporationliesnotonlyincommercialsuccess,butalsoinitscommitmenttogivingbacktosociety.Weseeourselvesasanintegralpartofsocietalprogress,dedicatedtobuildingawin-winecosystemthattranscendsmerebusinesstransactions—forgingdeepemotionalconnectionsandasharedvaluecommunitywithemployees,customers,communities,andallstakeholders.Throughsustainedphilanthropy,employeecare,andcommunityco-construction,westrivetotransformcompassionintoactionandembedresponsibilityintoourgrowth.Onthepathtowardexcellence,wewalkhandinhandwithpartners,jointlywritingamorehumaneandaccountablechapterofbusiness—onethatnotonlyelevatesourownachievements,butalsocontributestothecreationofabetter,moreinclusivesociety.

Achieving Excellence Togetherwith Our Stakeholders

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

StrategyWeconsistentlyadheretotheinterweavingandresonanceofincrementalinnovationandleapfroginnovation,withintelligentmanufacturingasthecoredriver.BycontinuouslyinvestinginR&D,exploringcutting-edgetechnologies,andstrengtheningoursystems,westeadilyenhanceourcorecompetitiveness.Inourinnovationdecisionsandpractices,weremaincommittedtofollowingscientificethicsandupholdingthespiritofscience,ensuringthattechnologydevelopmentandbusinessexpansionalwaysservethelong-termgoalsofsustainabledevelopment,fullyrealizingthepositivevalueofR&Dandinnovation.In2025,wearesteadilyadvancingourstrategictransformationfromdigitalizationtoAIintegration.ByachievingfullcoverageofAIproductsacrosstheindustrychain,integratingAItechnologywithdigitalmanufacturingplatformstofullyrealizethetransformationofintelligentmanufacturing,andbreakingthroughwithhigh-performancenewmaterialstobuildcorebarriersupstream,wehavemadeforward-lookingstrategicinitiativesinachievingglobalmarketcoverage,shapinganewecosystemforintelligentmanufacturing.

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Impact, risks and opportunitiesWerecognizetheopportunities,impacts,andpotentialrisksbroughtbyR&Dinnovation.Ininnovationmanagement,westrictlyadheretotheInnovation(Management)Regulationsforprojectevaluationandincentiveprograms.Byrefiningevaluationdimensionsandscoringcriteria,weensurethatallprojectsaresystematicallyandfairlyassessedacrossthreecriticaldimensions—economicbenefits,technologicalforesight,andpracticalapplicationvalue—therebysafeguardingtheefficientallocationofinnovationresourcesandalignmentwithstrategicpriorities.Asofnow,theCompanyhasnotexperiencedanyviolationsofscientificethicsduringthereportingperiod,norhasitbeensubjecttoinvestigationorpenaltiesbycompetentauthorities;accordingly,therearenointernalinvestigations,accountabilityactions,orspecialrectificationmeasuresrequiringdisclosure.TheCompanywillcontinuetostrengthenscientificethicseducationandrefinereviewprocessestoensurethatallR&Dandinnovationactivitiesfullycomplywithlaws,regulations,andethicalstandards.Intermoftalentacquisitionanddevelopment,JinpanSmartTechnologyactivelyrecruitsandcultivateshigh-caliberR&Dtalentthroughdeepcollaborationswithuniversitiesandresearchinstitutions,andactivelyparticipatesintheapplicationforkeytechnologicalprojectsandmajorresearchinitiatives.TheCompanyhasplaced"talent-drivendevelopment"atthecoreofitsstrategicframework,implementingpreciseandefficienttalentallocationaroundcutting-edgeproductlinessuchasSolid-StateTransformers(SST)anddatacenterpowermodules,therebylayingasolidfoundationforsustainablegrowth.

Z

Robotics Division Talent Acquisition andDevelopmentJinpanRobot(Wuhan)Co.,Ltd.,asubsidiaryofJinpanSmartTechnology,hasestablishedasustainableR&Dinnovationsystemthrougha"Talent,Platform,Ecosystem"tripartitestrategy.In2025,theCompanyimplementsadual-driverapproachof"internalcultivation+externalrecruitment,"launchingtargetedcampushiringinitiativesinpartnershipwithkeydomesticuniversitiessuchasHuazhongUniversityofScienceandTechnologyandWuhanUniversitytoactivelyattractcross-disciplinarytalentinmachinevisionandAIalgorithms,therebystrengtheningitstechnologicalinnovationmomentum.

Case

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Dry-Type Transformer DepartmentSimulation R&D Team Cultivation

In2025,JinpanSmartTechnology’sDry-Type

TransformerDepartmentestablishedasimulationR&D

team,collaboratingwithkeyuniversitiesfortrainingand

capacitybuildingtointegratemultidimensional

simulationcapabilities—includingfluidthermal

simulation,electromagneticsimulation,mechanical

vibrationsimulation,andtransformernoisesimulation.

Weemployacomprehensiveincentivesystem

combiningcompensation,projectbonuses,andequity

incentives,therebydeeplyaligningindividualinterests

withtheCompany’slong-termdevelopment.

Case

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Construction of the Power Module R&D TeamTheCompanyfocusesontheresearchanddevelopmentofcutting-edgetechnologyproductssuchassolid-statetransformers(SST)andHVDC,continuouslydrivingtechnologicalupgradingandindustrialtransformationinenergypowerequipment.Weadheretoadual-trackR&Dtalentstrategyof"internalcultivation+externalrecruitment,"systematicallybuildingasustainableinnovationsystem.Internally,westrengthenthedevelopmentofcoretalentechelons;externally,wehavelaunchedspecialrecruitmentprogramswithprestigiousuniversitiesincludingHarbinInstituteofTechnology,HuazhongUniversityofScienceandTechnology,WuhanUniversity,andJilinUniversity,widelyattractinghigh-potentialprofessionalsinfieldssuchaspowerelectronicsandcontrolalgorithms.Acomprehensiveincentivesystemcombining"salarysecurity+projectbonuses+equityincentives"hasbeenestablishedtosolidifythefoundationofourtalentpipeline.

Case

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Jinpan Smart Technology’s key R&D project in 2025

ThisproductisdesignedforHVDC800Vpowersupplyarchitectures,offeringadvantagesinhigh-efficiencyenergyconversion,rapidresponse,andhighintegration,markingasignificantachievementfortheCompanyinthefieldofnext-generationdatacenterpowersupplytechnology.

Solid-state Transformer for Data Center

Applications

Thesubstationsignificantlyreduceson-siteconstructiontime,enablingrapidcommissioningandacceleratedrevenuegeneration.Integratedwithintelligentmonitoringsystemsandhigh-reliabilitycomponents,itoperatesrobustlyincomplexenvironmentalconditions,ensuringefficientanddependableperformancethroughoutitsentirelifecycle.

66kv Prefabricated Renewable Energy Substation

((Q)yb-72.5/1.14-5500）

Theprojectisappliedtooffshorewindturbineunits.Itemploysanair-watercoolingsystemfordry-typetransformerstoisolatethemfromthemarineenvironment,therebyenablingreliableoperationofdry-typetransformersunderconditionsofhighcorrosionandhighhumidity.

Offshore Wind Power 16mw-35kv Dry-type Transformer

Thetransformerofthisratingisdesignedfordeploymentinaridandharshdesertenvironments,furtherenhancinginsulationperformanceandoperationalstabilityunderextremeconditionsoflowtemperature,high-salt-fog,andhighhumidity.

Dry-type Transformer, Climate Class C4,

Environmental Class E4

Thefirst110kV/80MVAcustomizedliquid-immersedpowertransformerhasbeensuccessfullyexportedtotheEuropeanmarketandenergizedinakeyprojectinGermany.Theliquid-immersedpowertransformers,withamaximumdeliveredvoltageratingof345kVandmaximumcapacityof150MVA,providesrobustandreliableequipmentsupportforglobalgreenenergyinfrastructuredevelopment.

Liquid-immersed Transformer

Successfullydevelopedmultipleintelligentindustrialrobotsandanewgenerationofvision-basedintelligentweldingsystems.Theintelligentweldingrobotproductwasawardedthe"WeikeCup·OFweek2025ChinaIndustrialAutomationandDigitalizationIndustryExcellentProductAward"attheWAIE2025(6th)ChinaIntelligentManufacturingDigitalTransformationConference,fullyreflectingtheindustry'shighrecognitionoftheCompany'stechnologicalinnovationandmarketvalue.

Intelligent Welding Robot

SuccessfullypassedtheHardware-in-the-Loop(HIL)testingcertificationbytheChinaElectricPowerResearchInstitute,signifyingthatthecoretechnologiesoftheCompany’sgrid-forminghigh-voltagedirect-connectedenergystoragesystemhavebeenvalidated,layingasolidtechnicalfoundationfortheindustrializationandcommercialdeploymentofthistechnology.

25MW/35kv HV Direct-connected Energy Storage System

Indicators and targetsTheCompany,throughsustainedinvestmentandinnovativepracticesinfrontiertechnologyfields,hasbeenawardedmultipleprestigiousindustryhonorsduringthereportingperiod,fullyreflectingthehighrecognitionofitsR&Dcapabilitiesandtechnologicalachievementsbytheindustry.

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

FeatureForeword

Stock code

688676

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

Appendix

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

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Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

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Weike Cup Excellence Award

TheintelligentweldingrobotproductofJinpanRobot(Wuhan)Co.,Ltd.wasawardedthe"ExcellentProductAward"attheWAIE2025ChinaIntelligentManufacturingDigitalTransformationConference&WeikeCupAwardsCeremony,hostedbyOFweek,afterbeingcomprehensivelyevaluatedbytheconferencereviewpanelacrossmultipledimensionsincludingtechnologicalinnovation,marketapplicationvalue,andindustryinfluence.TheproductintegratesAIalgorithmswithadvancedweldingprocesses,featuringintelligentperceptionandself-adaptation,high-precisionoperation,andflexiblecompatibility.Itisdesignedtoaddresswidespreadindustrychallengesinweldingqualityconsistency,adaptabilitytocomplexworkingconditions,andskilledworkforcedevelopment.Currently,theproductiswidelydeployedinstructuralsteelweldingapplicationsacrossconstruction,shipbuilding,bridgeengineering,andheavymachinerysectors.Itcontinuestodeliversmarter,moreefficient,andreliableweldingsolutions,demonstratingsignificantvalueinadvancingtheintelligenttransformationofmanufacturing.

Case

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Hainan Provincial Enterprise Innovation AwardJinpanSmartTechnologywasawardedthenewlyestablished"HainanProvincialEnterpriseInnovationAward(EnterpriseTechnologyInnovationCategory)"atthe2025HainanScience&TechnologyAwardsConference,highlightingitsoutstandingcapabilitiesintechnologicalinnovationandachievementtransformation.Basedonasystematicinnovationecosystem,theCompanyhasbuiltmulti-levelR&Dplatformsandrefinedincentiveandmanagementmechanismstocontinuouslydrivedigital,intelligent,green,andlow-carbontransformation.Multipleproductshavebeenlistedintheprovincial"First-of-a-KindEquipment"catalogandtheCompanyhasreceivedmajorhonorsincludingtheNationalManufacturingSingleChampionandNationalEnterpriseTechnologyCenter.Asaglobalpowerequipmentsupplier,JinpanSmartTechnologyleveragestechnologicalinnovationtoupgradetheindustrialchain,practicesESGprinciples,andprovidesstrongsupportforthedevelopmentoftheHainanFreeTradePortandtherealizationofChina's"DualCarbon"goals.

Case

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Second Prize in the Hainan "Data Elements ×" CompetitionJinpanSmartTechnologywonthesecondprizeinthe2025Hainan"DataElements×"CompetitionforitsIndustryChainCollaborativeDevelopmentPlatformBasedonDataElements.Theprojectleveragesaproprietarydatamid-platform,industrialalgorithmmodels,andanindustrychaincollaborationmechanismtobuildafull-chaindatacirculationsystemcoveringdesign,production,supplychain,andenergymanagement,enablingefficientdatautilizationandvaluerealization.Ithasbeensuccessfullyimplementedinmultipledigitalfactories,significantlyenhancingoperationalefficiency.TheCompanycontinuestoadvancedataassetization,withitsdataassetslistedfortradingandachievingDCMMLevel3certification,markinganewstageinitsdatamanagementcapability.ThisachievementhighlightsJinpanSmartTechnology’sroleinempoweringmanufacturingthroughdata,drivingindustrialchaincollaboration,andfosteringthegrowthofnew-qualityproductiveforces.

Case

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Innovation in 2025:

R&D Progress and Achievements in 2025:

Intellectual property protection

Wecontinuouslyimproveourintellectualpropertymanagementsystem,strictlycomplywithlawsandregulationssuchasthePatentLawofthePeople’sRepublicofChina,theTrademarkLawofthePeople’sRepublicofChina,andtheCopyrightLawofthePeople’sRepublicofChina,aswellaslocalregulatoryrequirements.WepromptlyupdateandimplementtheIntellectualPropertyManagementSystem,standardizingtheprocessesforapplication,approval,andmanagementofintellectualproperty.Throughreal-timemonitoringandcontrolofintellectualpropertyapplicationsandassociatedcosts,wedynamicallytrackapplicationprogressanddataacrossallproductionbases,providingrobustsupportfortheCompany’soverallintellectualpropertystrategyandplanning.Wehavefullyintegratedanintellectualpropertyriskearly-warningandcontrolmechanismintoourenterpriseriskmanagementframework,ensuringthatallrelevantdepartmentsperformtheirdutiesinaccordancewiththelawandcollaborateeffectivelyacrossallstages—includinginnovationandR&D,patentapplications,andcopyrightregistration—tosystematicallypreventlegalrisksassociatedwithintellectualproperty.

Total amount of R&D investmentRMB357millionProportion of total revenue

4.90%

R&D team has400persons

Accounting for

17.5%

Accumulated numberof patents obtained

356items

Inventionpatents

73items

Utility modelpatents

271items

Designpatents

12items

Cumulative participation instandards preparation18items

Total of newstandards

4items

TheHaikouIntellectualPropertyProtectionCenterwasofficiallyinauguratedandcommencedoperationsonSeptember30,2025.JinpanSmartTechnologyhasbeensuccessfullyincludedinthefirstbatchoffast-trackpre-examinationfilingentities,becomingoneoftheearliestbeneficiariesoftheHainanFreeTradePort’sintellectualpropertyfast-trackexaminationchannel—acriticalsteptowardacceleratingtheconfirmationofcorporateinnovationoutcomesandenhancingcorecompetitiveness.

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Product quality and safetyGovernanceWehaveestablishedasystematicproductqualityandsafetymanagementsystem,clarifyingresponsibilityandaccountability,standardizingprocesses,andcommittingtocontinuousimprovement,ensuringend-to-endcontrolandreliabilityfromR&Dtodelivery,therebyprovidingasolidfoundationforproductsafetyandcustomertrust.Weserveasthecorefunctionaldepartmentresponsibleforquality,safety,andcompliancemanagementacrosstheenterprise,fullyleadinginternalauditsofthethreeintegratedmanagementsystems—Quality,Environmental,andOccupationalHealth&Safety(OHS)—whilecoordinatingandmanagingresponsestothird-partyexternalauditstoensurethesustainedeffectivenessandfullcomplianceofthesesystems.TheQualitySafetyManagementDepartmentorganizesandoverseesauditandverificationactivitiesfortheEnergyManagementSystematallproductionbases,drivingtheimplementationofenergy-savingandconsumption-reductiontargets.Insafetymanagement,wefacilitatethehierarchicalsigningofWorkSafetyResponsibilityAgreementsacrossallbasesandsubordinateunits,clearlydefiningsafetyresponsibilitiesateveryorganizationallevelandposition,therebyestablishingacomprehensive“horizontaltotheedge,verticaltothebottom”enterprise-widesafetyaccountabilitynetwork.Additionally,theQualitySafetyManagementDepartmentroutinelyconductsEHS(Environmental,Health,andSafety)operationalsupervisionandinspectionsatallbasestoensureallmanagementpracticesarelegallycompliant,upholdoperationalintegrity,andsystematicallypreventandmitigateoperationalrisks.

Strategy

TheCompanyhascontinuouslyenhanceditsproductqualitycontrolcapabilities.TheQualityDQMDigitalManagementPlatformhasachievedsystematicanddigitalupgradingofqualitycontrolbyintegratingend-to-enddatafrommaterialinboundtoproductoutbound,breakingdowninformationsilos,andestablishingavisualizedandtraceablequalitydatasystemcoveringtheentiremanufacturingprocess.

Intermofkeyprocessoptimization,bothIncomingInspectionandOutgoingInspectionstageshavebeenupgradedinpriority.Theincominginspectionprocesshasbeentransformedintoafullysystematizedmanagementworkflow,spanningfromhuman-machineinteractiontoautomateddataoutput.Intheoutgoinginspectionphase,astandardizedinspectionmechanismhasbeenestablished,integratedwitherror-proofingmanagementprotocols,effectivelyreducingerrorsandoversights.

Inaddition,wehaveestablishedasystematizedqualitymanagementmechanismanchoredontheplatform,clearlydefiningqualityaccountabilitynodesacrossallprocessstagesandstandardizingdatareportingprotocols.Thisenablesaclosed-loopsystemspanningqualityearly-warning,root-causeanalysis,andcorrectiveactiontracking,layingasolidfoundationforenhancedproductconsistencyandmarketcompetitiveness.

Wuhan Jinpan Intelligent Technology Co., Ltd. 2025 Safety Conference and Signing Ceremony for

the Work Safety Responsibility Agreement

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Impact, risks and opportunitiesWerecognizedtheprofoundimpactofproductqualityandsafetyoncustomertrust,corporatereputation,andsustainabledevelopment—alongwiththeassociatedrisksandinherentopportunities.Inresponse,wecontinuouslyoptimizeandenhanceourQualityManagementSystem(QMS),updatingqualitypoliciesandprocedurestocomprehensivelycoverproductdesign,manufacturing,andqualitycontrol,therebyfurtherensuringproductqualityandsafetywhilestrengtheningthestandardizationandsustainabilityofourinternalqualityframework.In2025,eachofourmanufacturingbaseswillrevisetheirrespectiveQualityManual,EnvironmentalandSafetyManual,andrelatedproceduraldocumentsinalignmentwithbase-specificoperationalrequirements,ensuringfullcompliancewithsystemperformancecriteriaanddrivingaholisticimprovementinthestandardizationofcorporateoperations.TheCompanycontinuouslymonitorspotentialrisksthatmayimpactproductsafetyandconsistency.Inalignmentwiththiscommitment,werigorouslyenforcetherequirementsfromproceduressuchastheProductionandServiceProvisionControlProceduresandNonconformingProductOutputControlProcedures,fullyimplementverificationandtestingproceduresforproductquality,andsystematicallyinitiateproductrecallprotocolsforconfirmednonconformingproducts—ensuringend-to-endeffectivemanagementofqualityrisks.

TheCompanyanditssubsidiarieshavebothobtainedISO9001qualitymanagementsystemcertification.In2025,theCompanyachievedaseriesofsignificantmilestonesininternationalproductcertificationandqualitysystemdevelopment,layingasolidfoundationforexpandingintoglobalmarkets.TheCompanysystematicallyimplementedqualitysystemcomplianceinitiativesduringthereportingperiodandorganizedspecializedtrainingformid-to-seniormanagementpersonnel.Thetrainingfocusedonthepracticalimplementationandvalueenhancementofthequalitysystem,aimingtostrengthenthemanagementteam’sunderstandingandexecutionofqualitystrategy,whileelevatingtheprofessionalcompetenceandvalue-creationcapacityofthequalitymanagementworkforce.

Indicators and targets

In 2025, Jinpan SmartTechnology's one-time passingrate of finished productsreached

98.81%.

In 2025, there werenoincidentsof product recallsdue to safety and health reasonsat the Company.

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Marketing and Customer ServiceTheCompanysystematicallyoptimizeditsafter-salesmanagementsystemthroughcomprehensiveupgradestopoliciesandprocesses,significantlyenhancingserviceresponsespeedandservicequality.Aseriesofinstitutionalguidelines—includingCustomerServiceBehaviorStandardsandRequirements,SalesContractSigningandManagementRegulations,First-PointResponsibilitySystemforSales,andCustomerServiceBehaviorCode—wereformallydevelopedandimplementedtostandardizeserviceproceduresandbehavioralbenchmarks,continuouslyimprovingservicequalityandcustomersatisfaction.In2025,JinpanSmartTechnologyachievedacustomersatisfactionrateof

98.39%.

TheCompanycontinuestoexpandthescaleofitsfactoryserviceteams,implementsspecializedskilltrainingandservicecapabilityenhancementprograms,andoptimizesinternalcollaborationprocessesbyestablishingclearfactorycollaborationrulesandaccountabilitymechanismstoensureefficientintegrationofserviceresources,therebyprovidingcustomerswithmoreprofessionalandtimelytechnicalsupportandafter-salesassurance.TheCompanycontinuestobuildanefficientintegratedafter-salesmanagementsystem,aimingtofullyconnectinternalandexternaldatainterfaces,eliminateinformationsilos,andachieveintegratedsharingofcross-systemandcross-departmentaldata.Thesystemenablesfieldservicepersonneltoreal-timecollectandregisterequipmentoperatingconditions,inspectiondata,andmaintenancerecords,withautomaticuploadandreal-timesynchronizationofdata,unlockingitslatentvaluetoprovidereliabledatasupportforfullproductlifecyclemanagement.Additionally,thesystemintegratesAI-poweredintelligentanalyticstoassistmanagementdecision-making,furtherenhancingtheefficiencyandprecisionofdecisions,andempoweringoperationaloptimizationandstrategicplanning.

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Conduct training on AI-Generated Content (AIGC)

TheCompanyhasorganizedaseriesofsystematictrainingprogramsforitsafter-salesandrelatedteams,coveringtechnicalfrontiers,businessprocesses,servicestandards,andintelligenttoolapplications,withtheaimofcomprehensivelyenhancingprofessionalcompetenceandservicequality.Inexploringtechnicalfrontiers,specializedtrainingonAI-GeneratedContent(AIGC)wasconducted,systematicallyintroducingadvancementsinmultimodaltechnologies,industry-specificapplications,potentialrisks,andethicalguidelinestohelpteamsunderstandemergingtrendsandpracticalimplementationpathways.Concurrently,multiplehands-ontrainingsessionswereheldtodemonstratetheapplicationofAItoolsinreal-worldafter-salesscenarios—includingdocumentgeneration,faultdiagnosis,dataanalysis,andresourcescheduling—empoweringteamstoleverageintelligenttoolsforimprovedserviceefficiencyandenhanceddecision-makingsupport.

Case

Training on AI-Generated Content (AIGC)

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Full-process customer service training programToenhancebusinessprocessesandstandardizeoperationalpractices,wehaveconductedcomprehensiveend-to-endoperationaltrainingacrossintegratedsystemsincludingCRM,OA,andSAP,ensuringthatafter-salesteamsproficientlyutilizedigitaltoolstostandardizeandstreamlinebusinessprocesses.Inparallel,targetedtrainingonservicebehaviorstandardshasclearlydefinedserviceprotocolsanddisciplinaryrequirements,advancingthestandardizationandprofessionalizationofservicedelivery.Thisyear,aseriesofafter-sales-relatedtrainingsessionsweredelivered,reachingover380participantsacrossafter-salesteamsandrelatedpersonnel,systematicallysupportingteamcapabilitybuildingandthecontinuousoptimizationoftheservicesystem.

Case

380+

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Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

UnderthestrategicguidanceofcomprehensivelyadvancingAI-driventransformation,theCompanyactivelyseizesopportunitiesinartificialintelligence,deeplyintegratingAItechnologywithdigitalplatformstosystematicallyenhancetheintelligenceandstandardizationofcustomerserviceandafter-salessupportsystems.TheCompanyleveragestheCRMplatformtoembeddigitalizationintothecustomerservicelifecycle,achievingend-to-end,one-stopmanagementofprojecttracking,registration,biddingandquotation,contractsigningandexecution,andbeyond—significantlyenhancingcustomerrelationshipmanagementanddeliveringmoreeconomical,convenient,andthoughtfulproductsandservices.Simultaneously,theCompanyhasintroducedAItoolspoweredbypromptengineeringtoconstructanintelligentservicearchitectureendowedwithcontextualmemoryandknowledgebaseretrievalcapabilities,effectivelyacceleratingserviceresponsetimesandimprovingprocessingaccuracy.

TheCompanyhasestablishedthe"KassCloud"onlinedocumentmanagementplatform,achievingdigitalintegrationandcollaborativesharingofafter-salesguidancevideos,managementsystems,andotherresources.Thisinitiativeprovidesfrontlineteamswithreal-time,standardizedknowledgesupport,reinforcingservicestandardizationandoperationalcompliance.Together,thesemeasureshavepropelledtheservicesystem’scontinuousevolutiontowardintelligenceandsystematization,layingasolidfoundationfortheCompany’sinnovativedevelopmentandenhancedcompetitivenessinthedigitalandintelligentera.

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Multi-layered technical safeguards

HTTPS encrypted transmission

Access TokenAccess Token verification

Network firewall

Customer privacy and information securityWeplacehighimportanceoninformationsecurityanddataprotection,strictlycomplyingwithrelevantlawsandregulationsincludingtheCybersecurityLawofthePeople'sRepublicofChina,theDataSecurityLaw,andthePersonalInformationProtectionLaw.Toensureclearaccountabilityincompliancemanagement,theCompanyhasestablishedinstitutionalframeworkssuchastheCustomerInformationSecurityandConfidentialityManagementSystemandtheDataSecurityManagementMeasures,clearlydefiningresponsibilitystructures,coreprinciples,andmanagementprocedures.RegulardatasecurityauditsareconductedinaccordancewiththeDataSecurityAuditSpecifications,coveringcriticalareasincludingaccesscontrol,datatransmission,backupandrecovery,anduserpermissionmanagement.Identifiedissuesarepromptlyrectifiedandcontinuouslymonitoredtoensuretheeffectiveoperationofthedatasecuritymechanism.Toeffectivelysafeguardcustomerprivacyandinformationsecurity,theCompanyhasimplementedamulti-layeredtechnicalprotectionframework,includingHTTPSencryption,AccessTokenauthentication,andnetworkfirewalls,comprehensivelystrengtheningthesecurityofdatainterfacesandtransmissionpathways.TheCompanyisadvancingdataintegrationandbusinesscollaborationacrosscoreenterprisesystems—includingERP(EnterpriseResourcePlanning),PLM(ProductLifecycleManagement),MES(ManufacturingExecutionSystem),SRM(SupplierRelationshipManagement),andCRM(CustomerRelationshipManagement)—tobuildadigitalmanagementsystemcoveringtheentireproductlifecycle.Thisinitiativenotonlyenhancesoperationalefficiencybutalsosignificantlystrengthenstheoverallsecurityandreliabilityofdata.

In2025,theCompanyexperiencednoincidentsrelatedtocustomerprivacyorinformationsecurity,andnoviolationsofcustomerprivacyorinformationsecurityoccurred.

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Wehaveestablishedcleardatacooperationagreementsthatmeticulouslydefinecriticalmattersincludingthepurposeofdatause,scopeofsharing,securityresponsibilities,confidentialityclauses,andownershipofdata.Inaddition,inaccordancewiththeDataSecurityManagementMeasures,theCompanyregularlyorganizesdatasecuritytrainingtoenhanceemployees’awarenessandcompetenciesindataprotection.Guidedbytheobjectiveof“strengtheningcomplianceawarenessandsolidifyingprofessionalboundaries,”aseriesofspecializedlegalandregulatorytrainingprogramsareconducted.Trainingcontentshallinclude,butnotbelimitedto:datasecurityregulations,theCompany’sdatasecuritypolicies,secureoperationalprocedures,andriskawareness.NewemployeesmustreceiveinitialdatasecuritytrainingthroughtheHumanResourcesDepartmentuponjoiningthecompany,andemployeesundergoingpositionchangesshallundergotargetedtrainingalignedwiththerequirementsoftheirnewroles.

Wehaveestablishedapubliclyaccessibleinformationsecurityincidentreportingmechanismforallstakeholders,enablingemployees,customers,partners,andotherrelevantpartiestoreportsuspectedrisksorviolationsinvolvingtheCompany’sdatasecurity,privacyprotection,orinformationsystemintegritythroughdesignatedchannels—eitherundertheirrealnamesoranonymously.TheCompanycommitstomaintainingstrictconfidentialityofallreportedcontentandwillpromptlyinitiateinternalinvestigationprocedurestoverifyandaddresseachsubmission,ensuringthateveryfeedbackistreatedwithseriousnessandimpartiality.TheCompanyhasestablishedandcontinuouslyimprovedaninternalinformationsecurityriskassessmentandimprovementtrackingmechanism,conductingregular,comprehensive,andsystematicriskassessmentstoidentifypotentialthreatsandvulnerablepoints,andintegratingassessmentoutcomeswithcorrectiveactionsintodedicatedmanagementprocesses.Clearremediationtargetsandtimelinesaresettodynamicallytrackandvalidatetheclosureofallidentifiedrisks,ensuringtheongoingoptimizationoftheinformationsecurityprotectionframework.Establish clear datacooperationagreements.

Regularly organizedata security trainingand specialized legaland regulatorytraining programs.

Establish aninformation securityincident reportingmechanism accessibleto all stakeholders.

Build and continuouslyimprove theinformation securityrisk assessment andimprovement trackingmechanism.

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Employee recruitment and employmentTheCompanystrictlycomplieswithnationallawsandregulationsincludingtheLaborContractLawofthePeople'sRepublicofChina,theLaborLawofthePeople'sRepublicofChina,theWork-relatedInjuryInsuranceRegulations,theProhibitionofChildLaborRegulations,andtheLawofthePeople'sRepublicofChinaontheProtectionofMinors.Itfullyimplementslocallawsandinternationalstandardsacrossallitsoperationalregions,genuinelyrespectsandsafeguardsemployees'legitimaterightsandinterests,andensuresthattheentireprocessofrecruitment,employment,anddailymanagementiscompliant,fair,andtransparent.TheCompanycontinuouslyoptimizesitstalentacquisitionanddevelopmentmechanisms,committedtofosteringasafe,inclusive,equitable,anddynamicworkenvironmentthatsupportstheprofessionalgrowthofeveryemployee.Weplacehighimportanceonbuildingadiversetalentteam,leveragingsystematiccultivationframeworksandeffectiveincentivemeasurestocontinuouslyempoweremployeedevelopmentandpreciselyalignwithcorporatestrategyandbusinessneeds.

Shared Vision, SharedSuccess

Weupholdtheprincipleofequalemployment,strictlyenforceinternalregulationssuchastheRecruitmentManagementSystemandEmployeeHandbook,andfirmlyeliminateanydiscriminatorylanguage,biasedbehavior,orunfairdecisionsthroughouttheentirerecruitmentprocess.TheCompanyhasformulatedandimprovedtheHumanRightsPolicy,establishingcoreprinciplesforlaborpracticesandhumanrightsmanagementtoensurefullcompliancewithdomesticandinternationalstandardsacrossallglobaloperations.Wemakeasolemncommitmenttoprotectingemployees'laborrightsandhumanrights,andstrivetocreateafair,safe,anddignifiedworkenvironmentthatrespectsindividualintegrity.Westrictlyprohibittheemploymentofchildlabor,utilizinganemployeerecordsmanagementsystemandrigorousrecruitmentreviewprocedurestopreventanyoccurrenceofchildlabor.WecontinuouslyrefinetheProvisionsonRemedialandPreventiveMeasuresforChildLaborRecruitmentandManagementofMinorWorkers,clearlystipulatingthatanydiscoveredcaseofchildlaborwillbeimmediatelyaddressedwithproactiveandeffectiveremedialactionstosafeguardchildren'srights.Simultaneously,wehaveestablishedarobustinternaloversightmechanism,conductingregularself-inspectionsandcorrectionsofrecruitmentprocessesandemploymentpracticestoresolutelyopposeunlawfulbehaviorssuchasemploymentdiscrimination,forcedlabor,childlabor,andworkplaceharassment.

Wearecommittedtoattractingoutstandingtalentthroughdiversifiedrecruitmentchannelsandprovidingcandidateswithahigh-qualitycareerdevelopmentplatformbyleveragingarigorousandscientificinterviewprocess,achievingprecisealignmentbetweenindividualsandpositions.TheCompanyhasestablishedamulti-dimensionalrecruitmentsystemencompassingitsofficialwebsite,WeChatofficialaccount,onlinejobplatforms,andcampusrecruitment,continuouslyexpandingpathwaysfortalentacquisition.Simultaneously,theCompanyimplementsadual-drivenmechanismof“internalcultivationandexternalrecruitment,”launchingtargetedrecruitmentinitiativesatkeydomesticuniversitiessuchasHuazhongUniversityofScienceandTechnologyandWuhanUniversity,withafocusonattractingcross-disciplinarytalentsinmachinevision,AIapplicationsandAIalgorithmstocontinuouslyoptimizeitstalentstructure.

Proportion of operatingbases with ISO45001certification in 2025100%

Cases of child labor or forced labor inthe Company in 20250case

Signing rate for labor contracts by theCompany in 2025100%

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code

688676

Diversity, equity and inclusionWearecommittedtobuildingadiverse,equitable,andinclusiveworkplace,providingfairopportunitiesfordevelopmentandadvancementtoemployeesfromdifferentnationalities,ethnicities,ages,genders,beliefs,andculturalbackgrounds.TheCompanyactivelyrecruitstalentacrossalleducationallevelsandprofessionalbackgrounds,withparticularattentiontothecareergrowthofemployeesfromvulnerablegroups,continuouslyfosteringanopen,inclusive,anddifference-respectingorganizationalculture.Meanwhile,theCompanyhasestablishedarobustcomplaintmechanismfordiscriminationandharassment,clearlydefiningreportingchannelsandhandlingprocedurestoensuretimelyandimpartialresolutionofrelatedissuesandtheprotectionofemployees’legitimaterightsandinterests.AsofDecember31,2025,JinpanSmartTechnologyemployedatotalof2,286full-timestaff,including22employeeswithdisabilitiesand32veterans.Theproportionofemployeesfromminorityorvulnerablegroupsaccountedfor0.83%,whileemployeeswithdisabilitiesaccountedfor0.96%.In2025,theCompanyrecordednoincidentsofdiscriminationorharassment.Weplacehighimportanceonthecareerdevelopmentoffemaleemployees,fullyimplementinggenderequalityprinciplesacrossallstages—includingrecruitment,promotion,andtraining—toensurefemalesenjoyequalopportunitiesandrightsasmales.Weactivelyencouragefemaleemployeestosetambitiouscareergoalsandachieveexcellenceintheirprofessionalfields.TheproportionoffemaleemployeesintheCompanyremainsstable,accountingfor23%in2025.Femalesalsoholdsignificantpositionsinseniormanagement,representing50%oftheseniorleadershipteamin2025.Theproportionoffemalesontheboardofdirectorsis16.7%,with6boardmembersintotaland1femaledirector.

Employee employment

Total number of employees 2,286

Employee turnover

FemaleMale

1,755

Number of employees by gender

(persons)

SeniormanagementGeneralmanagement

MiddlemanagementGeneralemployees

2,168

Number of employees by type ofemployees (persons)

Age 30 and underAge 50 and above

Age 31-50

1,555

Number of employees by age

(persons)

SouthernChina

CentralChina

NorthernChina

EasternChinaNorthwestern ChinaSouthwestern ChinaNortheastern ChinaHong Kong, Macao,

and Taiwan

Number of employees by region

(persons)

Overseas

Number of employees by gender (persons)

Male

10.20%

Female

3.14%

Number of employees by age (persons)Age 30 and under

5.80%

Age 31-40

4.89%

Age 41-50

1.67%

Number of employees by region (persons)

Northwestern China

0.30%

Southern China

3.90%

Southwestern China

0.42%

Central China

4.70%

Northeastern China

0.38%

Northern China

0.38%

Hong Kong, Macao,and Taiwan

0.00%

Eastern China

1.97%

Overseas

1.29%

Age 50 and above

0.98%

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code

688676

Remuneration and benefits

Wehaveestablishedastructuredandclearlyorientedcompensationandrewardsystem,dedicatedtoprovidingemployeeswithmarket-competitiveremuneration.TheCompanysystematicallyarticulatesitscompensationandbenefitspoliciesandcomponentsthroughtheEmployeeHandbook,enhancingtransparencyincompensationmanagementandstrengtheningemployeerecognition.Salary systemWearecommittedtoprovidingemployeeswithmarket-competitivecompensation,havingestablishedtheCompensationandPerformanceManagementMeasuresforDirectors,Supervisors,andSeniorExecutivesofHainanJinpanSmartTechnologyCo.,Ltd.toensurefairnessandefficiencyintheCompany’scompensationsystem,whileestablishingamorescientificandsystematicframeworkformanagingseniorexecutiveremuneration.Wecontinuouslyoptimizeourtalentincentivemechanisms,enhancingtheprecisionandstrategicorientationofincentivestocloselyalignR&DobjectiveswiththeCompany’sstrategicdirection.Basedonemployeeperformanceevaluations,theCompanyaccuratelyidentifieshigh-potentialandhigh-valuetalent,andimplementstargetedincentivemeasurestofullyunlockhumanpotentialandsupportsustainableorganizationalgrowth.In2025,theCompanysystematicallyintegratedESGprinciplesintoitsoverallperformanceandincentivemechanisms,deeplyembeddingESGcriteriaintotwocoreevaluationdimensions—SuccessCriticalEventsandMajorAdverseEvents—andaligningthemthroughouttheentirelifecycleofstrategicplanning,operationalmanagement,andriskcontrol.Throughaclearlydefinedsystemofperformancebonusesanddeductions,ESGperformancedirectlyinfluencesevaluationoutcomesandissubstantivelylinkedtobothshort-termcompensationincentivesandlong-termincentiveplans,transformingESGfromaconceptualframeworkintoactionablepractice.ESGfactorshavefurtherbeenincorporatedintotheassessmentcriteriaofemployeestockownershipandrestrictedstock

incentiveprograms.UnderSuccessCriticalEvents,ESG-alignedpracticessuchasstrategicbreakthroughs,improvementsinresourceefficiency,andriskmitigationarerecognizedas

positivecontributorstoperformancescores.Conversely,underMajorAdverseEvents,ESG-relatedincidents—includingworkplacesafetyviolations,environmentalpollution,andcompliancebreaches—aresubjecttocorrespondingperformancedeductions;inseverecases,suchincidentsmaydisqualifyindividualsfromincentiveeligibility.

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

FeatureForewordAppendix

Stock code

688676

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Employee communicationTheCompanyplaceshighimportanceonopencommunicationwithintheorganization,havingestablishedadiversifiedcommunicationsystemincludingsuggestionboxes,regularsymposiums,andemployeesatisfactionsurveys.InformationregardingthesechannelsisclearlydocumentedintheEmployeeHandbook,ensuringthateveryemployee’svoiceispromptlyheardandrespondedto.TheCompanytakeseveryemployeecomplaintandsuggestionseriously,adheringtoobjectiveinvestigationandimpartialhandlingwhilestrictlyprotectingtheconfidentialityofwhistleblowersandfirmlyprohibitinganyformofretaliation.Tofurtherrefinethelaborrelationscoordinationmechanism,theCompanyhasestablishedastandardizedlabordisputemediationprocessandsetupanEmployeeLaborMediationRoom,committingtocompletereviewofallmediationapplicationswithinfiveworkingdays.Thisinitiativeaimstoprovideemployeeswithafair,transparent,andefficientinternalplatformforresolvingdisputes,continuouslyfosteringaharmoniousandstableemploymentenvironment.In2025,theemployeesatisfactionratereached81.96%.

Welfare Care

TheCompanystrictlycomplieswithnationallawsandregulations,dulycontributingtoemployees’socialinsuranceasrequired,andadditionallyprovidesaccidentalinjuryinsurancetocontinuouslystrengthentheemployeeprotectionsystem.In2025,theCompanyinvestedRMB1.72millioninwork-relatedinjuryinsurance.Wehaveestablishedacomprehensivewelfareandsubsidysystemencompassingallowancesforhigh-temperatureconditions,nutrition,transportation,meals,andpaidleave,dedicatedtoenhancingoverallemployeebenefitsandqualityoflife.JinpanSmartTechnologydemonstratescontinuouscommitmenttoemployeegrowthandwellbeing,organizingadiversearrayofculturalandteam-buildingactivitiesin2025,encompassingparentalcare,ideologicaleducation,andphysicalfitness.

Z

Jinpan Smart Technology held 2025 “Children’s Day” Family Open DayInJune2025,duringtheChildren’sDaycelebrations,JinpanSmartTechnologyhostedthethirdeditionofitsDigitalFactoryScienceOutreachEvent,invitingemployees’childrentotakeon-basevisitstotheCompany’sdigitalmanufacturingfacilities.Theactivityaimedtopromotescientificliteracyamongyoungvisitorsbyimmersingtheminintelligentmanufacturingenvironments,therebyenhancingtheirunderstandingofdigitalization,automation,andgreenmanufacturingpractices.

Case

In2025,theCompanyinvestedRMB1.72millioninwork-relatedinjuryinsurance.

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

Film Viewing Activities forPatriotic Education Month

Employee Benefits Activities Showcase

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Proportion ofoperational sitesassessed foroccupational health and

safety risks in 2025:

100%

Occupational health and safetyTheCompanystrictlycomplieswithlawsandregulationssuchasthe

LawofthePeople'sRepublicofChinaonWorkSafety,theRegulationsontheManagementofPersonalProtectiveEquipment,andtheWork-RelatedInjuryInsuranceRegulations,andhasestablishedasystematicworksafetymanagementsystembasedontheCodeofSafetyandCivilizedProduction.JinpanSmartTechnologyhassuccessfullyobtainedISO45001OccupationalHealthandSafetyManagementSystemcertificationatitsmajorproductionbasesinHaikou,Guilin,Shanghai,andWuhan.In2025,theCompanyachievedzerofatalities,zerorecordedwork-relatedaccidents,andzerolostworkhoursduetowork-relatedinjuriesorhealthissues,fullyrealizingitsannualoccupationalhealthandsafetyobjectives.TheCompanyorganizedatotalofover7,888hoursofsafetyeducationandtrainingthroughouttheyear,conducted26varioussafetydrills,anddelivered72trainingsessionsonquality,safety,andinternalcontrol,continuouslyenhancingthesafetyawarenessandemergencyresponsecapabilitiesofallemployees.In2025,100%ofoperationalbaseshadcompletedemployeehealthandsafetyriskassessments.

TheCompanyhasestablishedaSafetyandEnvironmentalProtectionCloudPlatformtostrengthenthepreventiveandsystematicmanagementofworksafetyandenvironmentalprotection,enablingend-to-endonlinemonitoringandclosed-loopmanagementfromoccupationalhealthrecordmanagementtohazardouswastedisposal,effectivelyreducingoperationalrisksandenhancingemergencyresponsecapabilitiesandenvironmentalcompliance.TheCompanyengagesqualifiedthird-partytestinginstitutionstoregularlyconductoccupationalhazardfactordetectionandstatusevaluationsatallproductionbases,andincorporatesidentifiedhazardouspositionsintospecializedmanagementsystems,withclearoccupationalhazardnotificationsignspostedon-base.Employeesinthesepositionsareprovidedwithpersonalprotectiveequipmentincludingearplugs,dustmasks,toxicgasmasks,andprotectivegloves,andaresystematicallysubjectedtopre-employment,in-service,andpost-employmentoccupationalhealthexaminations.Foremployeeswithoccupationalcontraindications,theCompanypromptlyreassignstheirpositionstopreventcontinuedexposuretooccupationalhazards,andmaintainscomprehensiveoccupationalhealthrecordsforallemployees,ensuringtheirphysicalandmentalwell-beingandoccupationalsafety.TheCompanyplaceshighpriorityonthehealthandsafetyofcontractoremployees,havingestablishedadedicatedContractorSafetyManagementSystemtosystematicallystrengthenoversightandguidanceonriskidentification,assessment,andcontrolthroughoutcontractoroperationsandon-siteactivities.TheCompanyprovidesessentialsafetyconsultingandtechnicalsupporttoensurecontractorsfullycomplywithitssafetystandards,jointlyfosteringasafeandhealthyworkenvironment.Duringthecontractoradmissionprocess,theCompanyenforcesarigorousevaluationandapprovalmechanism,andsignsdedicatedsafetyagreementswithallapprovedcontractors,clearlydefiningtheirscopeofwork,operationalmethods,safetyrequirements,andcorrespondingresponsibilitiestoensurestrictadherencetotheCompany’soccupationalhealthandsafetyregulationsandapplicablelaws.In2025,thecoveragerateofsafetyagreementsigningreached100%.

Cumulative safetytraining hours in 2025exceeded7,888hours

Total safety drillsconducted in 2025:

Cumulative safety andquality control trainingsessions in 2025exceeded

Coverage rate ofsigning safetyagreement withsuppliers100%

times

times

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

TheCompanyhasdeeplyembeddedoccupationalhealthandsafetyintoitsdigitalfactoryandsmartmanufacturingtransformation,leveragingAItechnologiestoenableproactiveandpreciseriskprevention.Incollaborationwithspecializedtechnicalteams,theCompanydesignedanddeployedanAI-poweredfiredetectionsystemattheGuilinJuntaifuDry-TypeTransformerDigitalFactorytoaddresspotentialignitionrisksinpouringandcuringfurnacezones.Thesystememploysdeeplearning-basedvisualanalyticstodetectopenflamesinrealtime,triggeringimmediateon-sitesoundandlightalarmsuponfireidentification—transitioningsafetyresponsefromreactivetopredictive.Particularlyinthescenariowhereonlyasmallnumberofpersonnelareondutyatnight,thistechnologyeffectivelycompensatesforthelimitationsofmanualmonitoringandsignificantlyimprovesthetimelinessandreliabilityofincidentresponse.

Healthprotection

Intermofhealthprotection,theCompanyarrangesprofessionaloccupationalhealthexaminationsforworkshopemployeeseveryyearandprovidescomprehensivehealthcheck-upsforallstaff.Atthesametime,commercialaccidentinsuranceispurchasedforemployees,establishingamulti-layeredhealthriskprotectionsystem.

Mental

health

Inthefieldofmentalhealth,theCompanyhasofficiallyestablishedanon-sitecounselingroomtoconductmentalhealthseminarsandcounselingsessions,providingemployeeswithprofessionalandconfidentialpsychologicalsupportservices.

TheCompanyisalsocommittedtoadvancingworksafetyculture,systematicallyconductingdiversesafetytrainingsessionsandemergencydrillsacrossallitssites.SpecialTrainingon"SafetyFirstClassforResumptionofWork"isuniformlyorganizedacrossallproductionbasesonthefirstworkingdayaftertheSpringFestivalholiday.Allemployeesparticipateinthismandatorysession,whichfocusesonreinforcingjob-specificoperatingprocedures,emergencyresponseprotocols,andpost-holidayriskpreventionmeasures.Particularemphasisisplacedonraisingawarenessofpotentialriskssuchasthe"post-holidaysyndrome".Throughtargetededucationandwarnings,thetrainingseekstofundamentallystrengthenemployees’safetyawareness,tightenthesafetymanagementframework,andestablishasolidfirstlineofdefenseforhigh-qualitydevelopmentthroughouttheyear.

Inanefforttopromoteapositiveandhealthylifestyle,theCompanyhasestablishedvariousrecreationalandsportsfacilitiessuchasgyms,readinglounges,andbasketballcourts,encouragingemployeestoengageinphysicalexerciseandculturalactivitiesduringtheirleisuretime,continuouslyfosteringavibrantandbalancedwork-lifeenvironment.

SpecialTrainingon"SafetyFirstClassforResumptionofWorkandProduction"

TheGuilinJuntaifuheldaFireSafetyRecognitionConferencetohonorindividualswhodemonstratedoutstandingperformanceinfiresafetywork,furtherfosteringapositiveatmospherewhereallstaffprioritizesafetyandactivelyparticipateinsafetymanagement.

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Type of training

Number oftrainings carried

out (times)

Training content

Quality, safety andinternal control training

Employee training and developmentWecontinuouslyimproveourtalentdevelopmentsystemtoprovideemployeeswithbroadercareergrowthopportunities.Byestablishingjobqualificationstandards,implementingadualcareerpathsystemformanagementandprofessionalroles,andimprovinginternaltalentmobilitymechanisms,theCompanyoffersemployeesdiversifiedandsustainabledevelopmentpathsthatsupportcontinuousprofessionaladvancement,achievingmutualgrowthbetweenindividualdevelopmentandorganizationalprogress.theCompanyhasestablishedaninternalcompetitiverecruitmentmechanism,conductingopeninternalcompetitionsforcertainpositionstoenablebidirectionalselectionbetweenemployeesandroles,therebysupportingemployees'careerdevelopment.TheCompanyhasestablishedadifferentiatedtrainingsystemcoveringvariouslevelsandpositions,facilitatingmutualpromotionbetweenemployeegrowthandcorporatedevelopmentthroughdiversemodesandrichcontent.Itprovidesinclusiveandequitabledevelopmentandpromotionopportunitiesforemployeesofdifferentnationalities,ethnicities,ages,genders,beliefs,andculturalbackgrounds,offeringbroademploymentprospectsfortalentswithdiverseeducationallevelsandprofessionalbackgrounds.TheCompanypaysspecialattentiontothecareerdevelopmentofunderrepresentedorvulnerableemployeesandstrivestofosteraworkplaceenvironmentthatisdiverse,equitable,inclusive,andopen.

Confidentiality training, legal knowledge, digitalexpertise, and information & data securityEnvironmental safety, occupational health andsafety, fire safety, safe use of hazardouschemicals, product quality management, etc.Post standardized operation, platform systemuse, post expertise, business processmanagement, key elements of quality control,product knowledge, etc.Manage knowledge and tool use, digitaltransformation cases, project practices, etc.Guidelines and policy updates on sustainabledevelopment reporting, along with plans for ESGperformance improvement

Artificial intelligence

Basic quality training

Employee skills training

Thematic training

AI training

General training inmanagement

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

Thetrainingmodelintegratesonlineplatformlearningwithofflinepracticalapplication.Byestablishingacurriculumresourcelibrarythroughtheinternallearningplatformandcombiningbenchmarkingstudiesandactionlearningprojects,itformsanintegratedtrainingmechanismencompassingself-study,assessment,andpracticalapplication.Thetrainingcontentcoversgeneralmanagementknowledge,artificialintelligenceapplications,qualityawareness,andotherareas.With103participants,17courseswereoffered,averaging36hoursoftrainingperperson,whicheffectivelyenhancedthecomprehensivecapabilitiesofpotentialtalents.

TheCompanyconductssystematictrainingfocusedonenhancingjobcompetencies,coveringmodulessuchasprofessionalethics,qualitysafety,internalcontrolmanagement,andskilladvancement.Activitieslikethe"BrightSharingMeetings"promoteknowledgetransfer.Thisyear,253trainingsessionswereorganizedwitha100%completionrate,covering2,286full-timeemployees,totaling185,100traininghours.

Adual-prongedempowermentapproachof"regulartraining+competition-driven"wasestablished.RegulartrainingcoversallemployeeswithcoursesonAItoolapplicationsandthebuildingofenterpriseintelligentagents.Theinnovative"AIEmpowerment·Intelligence-DrivenFuture"competitionattracted26teamsfromacrossthegroup,creatingastrongatmosphereoftechnologicalapplicationandinnovation.

Training forreserve cadres

and core

employees

Employee Training and Development

Proportion of trainedemployees by gender (%)

Male100%Female100%

Average training hours bygender (hours)

Male78 hoursFemale

90 hoursProportion of trained employees by employee category (%)

Middle management

100%Ordinary management

100%

Senior management

100%General management

100%

Average training hours by employee category (hours)

Middle management

68hoursOrdinary management81hours

Senior management

86hoursGeneral management

81hours

Technical andfunctionaltraining

AI technologyempowerment

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Empower Industry DevelopmentJinpanSmartTechnologycontinuestodeepenstrategiccollaborationswithlocalgovernments,industrialchainpartners,industryorganizations,andotherstakeholders,activelybuildinganopen,shared,andmutuallybeneficialcooperativeecosystem.Byproactivelyparticipatinginindustrystandarddevelopmentandorganizingregularexchangesandjointinitiatives,theCompanyworkshandinhandwithpartnersacrosssectorstoadvanceindustrialsynergyandsustainabledevelopment.JinpanSmartTechnologylaunchedaseriesofin-depthindustry-university-researchcollaborationswithtopdomesticuniversitiesincoretechnologyfieldsin2025.BypartneringwithSoutheastUniversity,ShanghaiJiaoTongUniversity,andotherleadinginstitutions,theCompanyachievedinnovationsinthreekeyareas:AIDCdatacenterpowersupplyanddistribution,intelligentmanufacturing,andnewenergystorage.Theseadvancementshaveacceleratedthetransformationofcutting-edgetechnologiesintoindustrialapplications,injectingstrongmomentumintotheCompany'ssustainabledevelopment.

JinpanSmartTechnologycontinuestoexpandcomprehensiveandcross-domainstrategiccollaborationswithinternalandexternalpartners,activelyparticipatesinindustryexchangesandcooperation,andcontinuouslyimprovesitssuppliermanagementsystem.TheCompanyiscommittedtobuildingasustainableandresponsiblesupplychainecosystem,workinghandinhandwithpartnerstodriveindustryadvancementandco-createanewlandscapeofdevelopment.

Leveraging Synergies through Strategic Partnerships

Z

Jinpan Smart Technology co-hosted an industry technology exchange eventwith Schneider ElectricJinpanSmartTechnologyandSchneiderElectricjointlyhostedthetechnicalexchangeeventtitled"PioneeringElectricalIndustryFrontier,ExploringaNewEraofIndustry"inGuilinin2025.Focusingoninnovationtrendsandpracticalapplicationsofintegratedelectricalequipmentinthedigitalera,theeventbroughttogetherelectricaldesignexpertsfrommultipleauthoritativedesigninstitutesacrossGuangxiProvincetodiscusstechnologicaldevelopmentdirectionsandcollaborationopportunitiesintheindustry.Duringtheexchangesession,representativesfromJinpanSmartTechnologysharedtheCompany'sproductportfolioandtechnicalexpertiseinthefieldofintegratedelectricalequipment.Drawingonpracticalexperienceinnewenergypowergenerationandenergystoragesystems,theyshowcasedJinpanSmartTechnology'sachievementsinindependentinnovationandapplicationscenarioswithinelectricalequipment.

Case

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Organizing a visit and exchange for students fromthe School of Electrical and Electronic Engineering,Huazhong University of Science and TechnologyPromoting the integration of higher educationtalent cultivation with industry practice

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Jinpan Smart Technology officiallylaunches ai smart factory systemdevelopmentJinpanSmartTechnologyandMatrixOriginsignedacooperationagreementinHaikouinOctober2025tolaunchthe"JinpanSmartTechnologyAISmartFactorySystemConstructionProject."ThiscollaborationmarksacriticalstepinJinpanSmartTechnology’ssystematicadvancementinthefieldofintelligentmanufacturing.ByleveragingMatrixOrigin’sexpertiseinAIanddataintelligenceplatforms,thetwopartieswilljointlybuildanintelligentsystemcoveringtheentireproductionandoperationschain.Theprojectaimstodrivedigitaltransformationandenhanceefficiencyinkeyareassuchasproductionscheduling,qualitycontrol,energyconsumptionmanagement,andequipmentoperationandmaintenance,furtherstrengtheningJinpanSmartTechnology’sintelligentcompetitivenessinthehigh-endequipmentmanufacturingsector.

Case

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Jinpan Smart Technology Attended 2025 Data Centre World AsiaJinpanSmartTechnologyparticipatedinthe"2025DataCentreWorldAsia"inSingaporewithitsnewgenerationofhigh-efficiencypowerdistributionandgreentransformersolutions.Duringtheexhibition,coreproductssuchaspowermoduleunits,Pad-mountedoil-immersedtransformers,andresin-castdry-typetransformersattractedwidespreadattention—particularlyinnovativeofferingslikesolid-statetransformers—highlightingtheCompany'stechnicalexpertiseinenergyefficiencyimprovementandgreentransformation.LeveragingglobalmanufacturingbasesintheUnitedStates,Mexico,Poland,andMalaysia,JinpanSmartTechnologyhasestablishedlocalizedserviceanddeliverycapabilitiesacrossmultipleregions,providingproductsupporttoleadingdomesticandinternationaltechnologyenterprisesincludingBaiduandAlibaba,continuouslydrivingtheglobaldatacenterindustrytowardhigherefficiencyandsustainability.

Case

2025 Data Centre World Asia

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Collaborating with Hainan University to carry out research and innovationTheDry-TypeTransformerDepartmentoftheCompanyhaslaunchedaspecializedindustry-university-researchcollaborationwithHainanUniversityinthefieldofmaterialsscience,focusingonperformanceoptimizationandapplicationresearchofresins.Theteamconsistingoftwosidessystematicallyconductedfundamentalresinpropertytesting,interfacialbondinganalysisbetweenresinsandvariousfilmmaterials,investigationintothemechanismofresinwhiteningduringgrinding,anddevelopmentofsurfacerestorationmethodspost-grinding.Meanwhile,theCompanyperformedprecisioncalibrationoftheforcesensoranddisplacementmeasurementsystemona5KNuniversalmaterialtestingmachine.Usingthisequipment,theteamaccuratelyverifiedtheinterfacialbondingperformancebetweendifferentinsulationmaterialsandresins,transformingtheoreticalresearchfindingsintoquantifiableandreproducibleengineeringparameters,effectivelysupportingtheCompany’scontinuousinnovationinnewmaterialapplicationsandproductreliabilityenhancement.

Case

Basic resin performance test

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Exploring New Pathways in Energy and Power Innovation and AI Empowerment with The Hong Kong Polytechnic UniversityInthecontextofChina's'DualCarbon'strategyandthedevelopmentoftheGuangdong-HongKong-MacaoGreaterBayArea'snewenergyindustrysystem,WuhanJinpanIntelligentTechnologyCo.,Ltd.engagedinin-depthtechnicalexchangeswiththeDepartmentofElectricalandElectronicEngineeringatTheHongKongPolytechnicUniversity.Centeredonindustry-academia-research-applicationcollaboration,bothsidesfocusedontheapplicationprospectsofsolid-statetransformers(SST),modularpowerelectronicequipment,andintegratedenergymanagementsystemsincutting-edgescenariossuchasArtificialIntelligenceDataCenters(AIDC),smartdistributionnetworks,andintegratedenergymicro-grids.Throughface-to-facediscussions,theyjointlymappedoutfeasiblepathwaysforintegratingsmartgridtechnologieswithemergingenergysolutions,andreachedpreliminaryconsensusonfuturecooperationintechnologyiteration,applicationdevelopment,achievementtransformation,andjointstandardformulation—layingasolidfoundationfordeepintegrationbetweenacademicfrontiertheoriesandindustrialengineeringpractices.

Case

Hong Kong Polytechnic University ExpertDelegation visits Jinpan Smart Technology

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Supply chain managementJinpanSmartTechnologyiscommittedtodeeplyintegratingsustainabledevelopmentprinciplesintoeveryaspectofsupplychainmanagement.Byestablishingandcontinuouslyenhancingasupplierevaluationanddynamicmanagementsystemfocusedonsocialresponsibility,weaimtobuildamoreresilientandresponsibleindustrialecosystemtogetherwithourpartners.Webelievethatonlythroughcollaborativeprogressacrosstheentirevaluechaincanweleadtheindustrytowardagreener,moresustainablefuture.Supplier Management System

TheCompanyiscommittedtobuildingarefinedandsystematicsuppliermanagementsystemthatspanstheentirecooperationlifecycle.Throughgradedandcategorizeddynamicmanagement,oursupplieroversightcoversthefullcycle—frominitialscreeningandaccessqualificationtoongoingevaluationandperformanceassessment.

Supplier SourcingBuildingatransparentprocurementsystembasedonadigitalplatform,theCompanyhaslaunchedandoperatedanSRM(SupplierRelationshipManagement)systemthatintegratestheentireprocurementprocessintoanonlineclosed-loopworkflow.Thisenablesstandardizationandvisualizationofkeystages,significantlyenhancingtransparencyandoperationalcomplianceinprocurementactivities.

Supplier admissionEstablishingasystematicsupplieradmissionsystem,suppliersarecomprehensivelyevaluatedacrossmultipledimensionsincludingoverallcapability,qualitycontrol,andenvironmentalsustainability.TheSupplierSocialResponsibilityRiskAssessmentManagementRegulationhasbeenintroduced,makingsocialresponsibilityassessmentaprerequisiteforadmissionofnewsuppliersandsubcontractors,andextendingthisrequirementtoallClassAandBqualifiedsuppliers.BasedontheSupplierSocialResponsibilityRiskAssessmentChecklist,acombinedapproachofon-siteauditsandonlineevaluationsisusedtoassesssuppliersholisticallyinareassuchaslaborrights,businessethics,occupationalhealth,andsafety.Suppliersratedas'high-risk'intheassessmentresultswillnotbeapproved.Humanrightscommitments,environmentalprotection,occupationalhealthandsafety,qualityassurance,andconflictmineralscontrolareexplicitlyincorporatedintosupplieragreements,ensuringthatsocialandenvironmentalrequirementsareintegratedthroughoutcontractfulfillment.Insupplierselection,priorityisgiventopartnerswhohaveobtainedcertificationssuchasISO9001,ISO14001,andISO45001.

Supplier evaluationSuppliersarecategorizedintofourclassesbasedontheirbusinessnature,andadifferentiatedevaluationsystemhasbeenestablishedforeachcategory,focusingonkeydimensionssuchasquality,cost,delivery,andservice.Throughacombinationofannualperformancereviewsandunannouncedon-siteaudits,theCompanyconductsdynamicassessmentsandtieredmanagementofsuppliers’overallcapabilities.Insupplierselectionandcollaboration,priorityisgiventopartnerswhoseproductionprocessesandproductscomplywithenvironmentalregulationsandpossessrecognizedenergy-savingcertifications.Forcriticalmaterialsinvolvingsafetyandreliability,suppliersarerequiredtoprovideofficialidentificationortestreportsissuedbyauthoritativethird-partyinstitutions.Greenandenvironmentallyresponsiblesuppliers—especiallythosecertifiedunderthethreemanagementsystemsandenergymanagementsystems—areprioritized.Environmentalperformanceisintegratedintosupplierevaluationcriteria,andallsuppliersarerequiredtosigntheEnvironmentalCommitmentAgreementandtheSocialResponsibilityandOccupationalHealthandSafetyProtectionDocument,jointlyfulfillingenvironmental,social,andsafetyobligations.

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Supplier quality managementTobuildamorestable,efficient,andsustainablesupplychain,theCompanysystematicallyadvancedfull-cyclesupplierqualitymanagementin2025.Atotalof8newsupplierscompletedaccessreview,while8existingsuppliersunderwentroutinereviewsandunannouncedfly-ininspections,withtargetedcoachingprovidedtodrivecontinuousimprovementintheirqualitysystems.Tostrengthenriskprevention,theCompanyorganizedthird-partyverificationfor13criticalmaterialbatches,ensuringreliablequalityfromthesource.Throughsystematicaccessassessments,in-processaudits,andriskcontrols—combinedwithenhancedcapabilitiesoftheSupplierQualityEngineering(SQE)team—atotalof66supplierswerereviewedin2025,with30on-sitemanufacturingsurveillanceactivitiesconducted.

Supplier ESG managementTostrengthenriskmanagement,theCompanyconductssuppliersocialresponsibilityriskassessmentstoidentifyandmanagepotentialnegativeimpactsinareassuchashumanrights,businessethics,andhealth&safety,implementingadmissionscreeningandfollow-upcorrectiveactionsbasedonrisklevels.TheCompanyhasestablishedclearrequirementsforsupplychainsocialresponsibilitymanagement,institutionalizingtheinclusionofsocialandenvironmentalclauses—coveringsustainabilityaspectssuchasenvironment,labor,andhumanrights—intosuppliercontracts.Supplierresponsibilitiesarefurtherclarifiedthroughsignedagreementsandassessmentforms,withanaccountabilitymechanisminplacetoensurecompliance.ThroughtheSupplierCodeofConduct,theCompanydefinescomplianceexpectationsregardingenvironmentalprotection,laborandhumanrights,andfaircompetition,requiringkeysupplierstosignrelatedcommitmentletterstocomprehensivelysafeguardsocialandenvironmentalresponsibilityacrossthesupplychain.Wesolemnlycommittoneverengaginginbusinesswithsuppliersthatposehighsocialresponsibilityrisks.Weexplicitlyprohibitsuppliersortheirsubcontractorsfromusinganyformofforcedlabor,includingdebtbondagelabor,slavery,ornon-voluntaryprisonlabor.Wealsorefusecooperationwithsupplierswhohavebeenpenalizedbylaborinspectionauthoritiesorexposedbythemediaforchildlabororinhumanetreatment.Furthermore,wedonotestablishpartnershipswithsuppliersthathaveexperiencedfatalormoresevereworkplacesafetyincidentswithinthepastyear,orthosefoundengagingincorruptpracticessuchasbribery,extortion,orfundmisappropriation,wheresuchactionshavebeenreported,complainedabout,orexposedbymedia.Throughrigorousaccessreviewsandongoingassessmentmechanisms,weensureallpartnersmeetthesesocialresponsibilityandethicalstandards.Relevantriskscenariosinclude,butarenotlimitedto:suppliersorsubcontractorsusingforcedlabor(includingdebtbondagelabor,slavery,ornon-voluntaryprisonlabor);supplierspenalizedbylaborinspectionauthoritiesorexposedbymediaforchildlaborpractices;supplierspenalizedbylaborinspectionauthoritiesorexposedbymediaforinhumanetreatment;suppliersexperiencingfatalormoresevereworkplacesafetyincidentswithinthepastyear;andsuppliersfailingtocomplywithintegritystandardsthroughcorruption,embezzlement,extortion,orfundmisappropriation,whichhavebeenreported,complainedabout,orexposedbymedia.

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Green procurementWesystematicallyintegratetheprinciplesofsafety,environmentalprotection,andresourcecircularityintoourprocurementmanagementsystem,continuouslyimprovinggreenprocurementstandardsandupdatingtheCodeofConductforSuppliersinCollaborationwithJinpanSmartTechnology.Supplierperformanceinenvironmentalprotectionandgreen,low-carbonpracticesisnowincludedasakeyassessmentcriterion.Byprioritizingpartnerswithstrongenvironmentalperformance,westeadilyreducetheenvironmentalimpactofprocuredmaterials,whileactivelyoptimizingproductionprocessesandproductstructurestograduallyincreasetheprocurementratiooflow-carbonandenergy-savingproducts.Wearecommittedtobuildingagreensupplychainincollaborationwithsuppliers,jointlyenhancingresourceefficiencyandenvironmentalperformance,andexpandingourpositivecontributionstosustainabledevelopment.The2025targetistoachieve100%signingrateoftheCodeofConductforSuppliersinCollaborationwithJinpanSmartTechnologyamongcoresuppliers.Toimplementthisgoal,theCompanywillsystematicallycommunicatethespecificrequirementsofthecollaborationguidelinestotargetsuppliersthroughtargetedoutreach,regularassessments,andcompliancesupport.Thesigningstatuswillbeincorporatedintotheannualsupplierevaluationsystem,progressivelyexpandingthescopeofsustainableprocurementmanagementandcontinuouslyenhancingthesupplychain’soverallaccountabilityandriskpreventioncapabilities.Weencouragesupplierstoactivelyembracegreenandlow-carbondevelopmentprinciples,adoptenvironmentallyfriendlyproductionmethods,reducesolidwastegeneration,andstrictlycontrolemissionstoair,water,andsoil—therebyminimizingnegativeimpactsonbiodiversity,climatechange,andwaterresources.Atthesametime,weadvocategreenprocurementpracticestodriveemissionreductionsandefficiencygainsacrosstheentiresupplychain,jointlyenhancinggreenhousegasmitigationoutcomes.TheCompanyconductssystematicanalysisofcarbonfootprintdatatoscientificallyassesspotentialclimate-relatedriskstobusinessoperationsanddevelopscorrespondingresponseandmanagementstrategies.Wealsosupportsuppliersinestablishingregularmonitoringandreportingmechanismstotrackprogresstowardcarbonreductiongoals,promotingfull-chaincollaborationinadvancingtowardasustainable,low-carbonfuture.

Signing rate of theCode of Conduct forSuppliers in Collaboration with JinpanSmart Technologyamong core suppliers inthe 2025 target:

100%

We advocate that the suppliers driveemission reductions and efficiency gainsthrough green procurement practices,jointly enhancing the greenhouse gasmitigation outcomes.We are committed to building a green supply chain system incollaboration with suppliers, jointly enhancing resource efficiency andenvironmental performance, and continuously expanding our positivecontributions to sustainable development.

2025

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

Conflict minerals managementWearecommittedtostrictlyprohibitingtheprocurementofmineralsfromconflict-affectedareas—suchasgold,tantalum,tungsten,cobalt,andtin—andactivelyenforcingazero-tolerancepolicy.Throughresponsiblesupplychainmanagement,werequiresupplierstofulfilltheirduediligenceobligationsinsourcingandsupply.Toadvanceeffectivetraceabilityofconflictmineralsandenhancesupplychaintransparency,wesystematicallyconductsupplierduediligenceonconflictminerals,tracingthecountryoforiginofmineralsandleveragingframeworkssuchastheResponsibleMineralsInitiative(RMI)toidentifyandverifyupstreamsmeltersandrefiners,ensuringcompliancewithconflict-freestandardsandsafeguardingthecomplianceandethicalintegrityofoursupplychainfromthesource.Whenacertainvolumeofmetalscrapiscollected,thefactoryconsolidatesandsellsittoqualifiedpartnersuppliers.Thesepartnersreusethescrapasrecycledrawmaterialsinnewproductionprocesses,creatingaclosed-loopsystemof'production-consumption-recycling,'therebyreducingdemandforvirginmineralresources.By2025,all10suppliersinvolvedinconflictmineralshavesignedthedocuments,all10metalsuppliershavesignedtheLetterofGuaranteeforNon-UseofConflictMinerals,andsupportingdocumentationhasbeenprovided.

Supplier communication and empowermentWearecommittedtostrengtheningcommunicationandcollaborationwithoursuppliers,ensuringseamlessandopenchannelsofdialogue,andgrowingtogethertocreateashared,sustainablefuture.Byregularlysharingprogressandachievementsinjointemissionreductioninitiativeswithsuppliersandinternalstakeholders,wecontinuouslyenhancetransparencyandbuildmutualtrust.Inthecontextoftheacceleratingglobaltransitiontowardcleanerenergy,digitalizationandintelligenttechnologieshavebecomecriticalpathwaysforenterprisestoenhanceefficiency,optimizecosts,andstrengthenresilience.Tobuildamorecollaborative,sustainable,andresilientsupplychainsystem,JinpanSmartTechnologyhassystematicallyadvancedsupplychaindigitaltransformationandorganizedonlinespecializedtrainingforallcoresuppliers,achieving100%trainingcoverage.94%ofsuppliersscheduledforauditin2025participatedinimprovementinitiativesorcapability-buildingprograms.

Supplier integrity construction

JinpanSmartTechnologyconsistentlyadherestoopenandtransparentprocurementprinciples,firmlyresistinganyactsofunfaircompetition,corruption,orunethicalbehaviorduringtheprocurementandsuppliermanagementprocesses.Wearecommittedtobuildingafair,clean,andresponsibleprocurementsupplychainincollaborationwithoursuppliers.ThroughtheSRMdigitalsystem,supplieradmissioninformationissubjecttoduediligencereviewviatheSupplierQuestionnaire.Toupholdsupplierintegrity,wemaintainopenreportingchannels,conductcode-of-conducttrainingforallsuppliers,andrequirethesigningoftheSupplierConfidentialityandIntegrityAgreementpriortoestablishinganybusinessrelationship.In2025,thesigningratefortheSupplierConfidentialityandIntegrityAgreementreached100%.

Percentage of core suppliers that have signed theSustainable Procurement Charter/Supplier Code ofConduct100%Percentage of core suppliers that have signedcontracts including clauses on environmental, labor,and human rights requirements100%Percentage of suppliers undergoing audits orassessments that participated in improvementinitiatives or capability development programs in 202594%

Total number of suppliers1,591suppliers

Number of domesticsuppliers

1,305

domestic suppliers

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Jinpan Smart Technology Party Committee hosts public tree-planting eventwith DongshanVillage, DongshanTown on Party Building Day

Public welfare and charityJinpanSmartTechnologyremainscommittedtopublicwelfareinitiatives,activelygivingbacktosocietyandfulfillingitscorporateresponsibilities.TheCompanyhascontinuouslycarriedoutcharitabledonationsandvolunteerservices.In2025,theCompanyinitiatedandcompletedvariousdonationprojectstotalingRMB463,900,coveringkeyareassuchaseducationassistanceandruralrevitalization.OurCompanyconsistentlyupholdsthecorephilosophyof"takingfromsocietyandgivingbacktosociety."Byimprovingpublicwelfaresystems,encouragingemployeeparticipation,andpromotingmulti-partycollaboration,wearegraduallybuildingacommunityofsharedresponsibilitythatincludesemployees,customers,partners,andlocalcommunities.Weencourageemployeestoengageincharitablepractices,withatotalof184volunteersparticipatingthroughouttheyear.Additionally,wehaveimplementedanemployeematchingdonationprogramintheUnitedStates,inwhichtheCompanymakesadonationequaltoacertainpercentageofeachemployee'scontribution,therebyinspiringgreaterengagementandjointlyadvancingthesustainabledevelopmentofpublicwelfareinitiatives.

JinpanSmartTechnologyconsistentlyupholdsitssocialresponsibility,demonstratingunwaveringcommitmenttopublicwelfareinitiatives.Weactivelyrespondtothenationalruralrevitalizationstrategyandgivesbacktothesocietywithenthusiasm.TheCompanydeeplyrecognizesthesignificanceofcorporatesocialresponsibility.Itcontinuouslyfostersapublicwelfareculture,motivatingemployeestoparticipateincharitableactivities.Bycollaboratingwithpartnersacrossvarioussectors,itworkstogethertospreadloveandcontributetothebuildingofaharmonioussociety.

Targeted PhilanthropyDriving Rural Revitalization

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Support of Hainan Special Education School

InJune2025,theCompanyofficiallylauncheditssecondphaseofafour-yeardonationprogramforeducationalpurposes,continuingtoprovidesupporttospecialeducationinstitutions.Akeyprogressinthisinitiativewasthelong-termsupportforHainan(Haikou)SpecialEducationSchool,whichofficiallyestablisheda"VocationalSchoolforPersonswithDisabilities"lastyear.Thismarksafurtherbroadeningofvocationaleducationopportunitiesforyoungpeoplewithdisabilities.TheCompany'scontinuoussupporthasprovidedtangibleandpowerfulassistancetostudentsinacquiringskills,integratingintosociety,andrealizingtheirself-worth.

Case

Jinpan Smart Technology has contributed to specialeducation for four consecutive years.

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

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Collaboration with the Employee Sharing Center in the United StatesCase

The Company's U.S. team partnered with "The Sharing

Center" to conduct back-to-school donation drive.

The Company's U.S. team also participated in fooddonation drives with "The Sharing Center" to

support local communities.

The annual "Share the Light" charity gala.

TheCompanyhasestablishedalong-termandstablecharitablepartnershipwith"TheSharingCenter".Asalocalnonprofitorganization,TheSharingCenterprovidescomprehensiveservicesincludingoperatingfoodpantries,clothingstores,offeringfinancialassistance,andemploymentsupport,dedicatedtoassistingindividualsandfamiliesfacingdifficultiesinrebuildingstablelivesandachievingself-reliance.

2025

EmployeesofJinpanSmartTechnologyinLakeMary,Florida,USA,collectivelycontributedUSD1,065tosupportthelocalnonprofitorganization"TheSharingCenter."TheCompanyprovidedanequalmatchingdonationtotheemployees'contribution,bringingthetotaldonationtoUSD2,130.Thefundswillbeusedtoprovidefood,clothing,financialassistance,andcommunityprojectsupportforindividualsandfamiliesassistedbytheorganization.

January 2025

AllemployeesofJinpanTechnologyinLakeMary,Florida,USA,joinedhandswiththeircharitablepartner,TheSharingCenter,tohostthefifth"SharetheLight"CharityGala.Over500distinguishedguestsgatheredforthismeaningful,elegant,andimpactfulevent,themedaroundaVenetianmasqueradeball,whereattendeesunitedinraisingdonationstosupportvulnerablepopulations.Since2024,TheSharingCenterhashelpedover200homelessindividualstransitionintopermanentandsafehousing.Additionally,theU.S.teamofJinpanSmartTechnologypartneredwith"TheSharingCenter"toconductaback-to-schooldonationdrive,organizingemployeesandtheirfamiliestodonatelearningsuppliessuchaspencils,notebooks,backpacks,andartmaterialstohelplocalstudentsprepareforthenewacademicyear.

August 2025

Co-Creating Value throughInnovation for a Shared Future

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Rural revitalization in JiaziTown

Rural revitalizationJinpanSmartTechnologyactivelyrespondedtothenationalruralrevitalizationstrategy,leveragingitsoperationalexperienceandresourceadvantagestomeaningfullyparticipateinandempowerruraldevelopment.TheCompanycontinuouslysupportsdisadvantagedgroupsinruralareasthroughdiverseassistanceinitiatives,deliveringwarmthandcontributingtotheadvancementof"warmvillages,"therebypromotingsocialharmonyandsustainableprogressinruralcommunities.

Promote rural revitalization and increase farmers’ incomeIn2025,theCompanylaunchedanintegratedphotovoltaic-agricultureprojectthatgeneratedhundredsoflocaljobs,enablingresidentstoachieve“Localemploymentwhileleavingthelandbutnotthehometown.”Throughlandleasingarrangements,theprojectprovidedsustainedandstableincometorelevanteconomiccooperativesinJiaziTown,whileleveragingtheregion’stropicalecologicalresourcestodrivetheupgradingandmodernizationoflocalagriculturalindustries.

案例

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

overnance

Strengthening Foundations,Enhancing Quality andEfficiency, andConsolidating Governance

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating Governance

FeatureForewordAppendixStock code688676

JinpanSmartTechnologytakes'integrity'asthecornerstoneofitsbusiness,integratingthisprincipleintoallitsoperationalpractices.WefirmlyintegrateESGprinciplesintoourstrategicdecision-makinganddailyoperations,aimingtodrivehigh-qualitydevelopment.Byestablishingandcontinuouslyrefiningamoderncorporategovernanceframework,wecontinuouslyenhanceourabilitytopreventandcontrolsystemicrisks.Wearecommittedtocreatinglong-term,sustainablevalueforourshareholders,activelyfulfillingourcorporatecitizenshipresponsibilities,andcontributingtosocialharmonyandsustainableprogress.

Our Actions

Our performance

JinpanSmartTechnologyhasdeeplyinternalizedsustainabledevelopmentasitscorecorporatestrategy,continuouslyoptimizingcorporategovernanceandstrengtheningcomprehensiveriskmanagement.ThroughsystematicconstructionandcontinuousimprovementoftheESGgovernanceframeworkandoperationalmechanisms,wearecommittedtocultivatingandenhancingtheenterprise'ssustainablecompetitivenessforthefuture.Simultaneously,theCompanyfocusesonenhancingtheawarenessandparticipationofallemployees,consolidatinginternalconsensusandsynergytoensurecoordinatedadvancementacrossdimensionsofenvironment,society,andgovernance,steadilyachievingsustainablehigh-qualitydevelopment.

Convened shareholders meetings by

5timesConvened special meetings of independentdirectors by5times

Coverage rate of anti-corruption training foremployees reached

100%The signing rate of the Integrity Agreementamong employees reached

100%The signing rate of the Integrity Agreementamong management reached100%The signing rate of the Integrity Agreementamong suppliers reached100%

Stock code688676

Leading a Low-Carbon Journey,Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating Governance

FeatureForewordAppendix

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating Governance

FeatureForewordAppendix

Stock code

688676

Compliance governanceJinpanSmartTechnologyconsistentlyupholdstheprincipleofhonestbusinessoperations,strictlycomplieswithlawsandregulations,andcontinuouslyoptimizesitscorporategovernancestructure.Wearecommittedtomanagingoperationswithtransparencyandfairness,constantlyimprovingriskcontrolsystemsandinstitutionalframeworks,andactivelybuildingmutualtrustwithinvestors,partners,andallsectorsofsociety,layingasolidfoundationforsustainableandstablelong-termdevelopment.

Corporate governanceJinpanSmartTechnologystrictlycomplieswiththeCompanyLawofthePeople‘sRepublicofChina,theSecuritiesLawofthePeople’sRepublicofChina,theCorporateGovernanceGuidelinesforListedCompanies,theStockListingRulesoftheShanghaiStockExchange,andotherrelevantlawsandregulations,continuouslystrivingtobuildaprofessional,standardized,andefficientcorporategovernancesystem.JinpanSmartTechnologycompletedtheformulationandrevisionof37coregovernancesystemsin2025,includingtheArticlesofAssociation,RulesofProcedurefortheBoardofDirectors,IndependentDirectorWorkSystem,andRelated-PartyTransactionManagementSystem.Withaforward-lookingperspective,theCompanyoptimizeditsgovernancestructurebysystematicallyintegratingthesupervisoryfunctionsoftheformerboardofsupervisorsintotheAuditCommitteeoftheboardofdirectors,therebyenhancingoverallgovernanceeffectivenessandachievingorganicunitybetweendecision-makingandoversight.TheCompanycontinuestorefinethe"threemeetingsandonemanagementlevel"framework—comprisingtheGeneralMeetingofShareholders,theBoardofDirectors,theBoardofSupervisors,andtheManagement—byclearlydefiningtherespectivepowersandresponsibilitiesofeachbody,promotingstandardizedoperationsacrossallgovernancetiers.Recognizingthestrategicvalueofdiversity,theCompanyensuresabalancedboardcompositionthatreflectsdiverseprofessionalbackgrounds,industryexpertise,andgenderrepresentation,aligningwiththeCompany’sdiversifiedandinternationaldevelopmentgoals.Allboardmemberspossessthenecessaryprofessionalcompetenceandoversightexperiencetoensurescientificandeffectivedecision-making.Furthermore,theCompanyregularlyorganizesspecializedtrainingprogramsfordirectors,supervisors,andseniormanagementtocontinuouslystrengthencorporategovernancecapabilities.Ininvestorrelations,theCompanymaintainsactivecommunicationwithshareholdersthroughvariouschannelssuchasInvestorOpenDays,hotlinephoneservices,andonlineinteractiveplatforms,effectivelyprotectinginvestors'rights.Topromotedeepalignmentbetweenmanagementandshareholderinterests,theCompanyestablishesandimprovesincentivemechanismslinkedtoperformancethroughrelevantsalaryassessmentandmanagementmeasures,drivingseniorexecutivestofocusonstrategicexecutionandlong-termvaluecreation.

Jinpan Smart Technology's Governance Structure

Strategy Committee

Chairman

Board of Directors

RotatingPresident

General Boardsof Shareholders

Office of the Board ofDirectors

Secretary of theBoard of DirectorsNomination CommitteeRemuneration andEvaluation CommitteeESG CommitteeAudit Committee

Internal AuditDepartment

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Risk managementJinpanSmartTechnologyhascontinuouslyimproveditsriskmanagementandinternalcontrolsystemsbyformulatingandimplementingtheRiskManagementSystem,establishingathree-tierriskmanagementframeworkledbytheBoardofDirectors,encompassingallbusinessoperations,andestablisheda'threelinesofdefense'withclearlydefinedresponsibilitiesandcollaborativecoordination,therebyprovidingsystematicsafeguardsfortheCompany'sstableoperationsandsustainabledevelopment.In2025,theCompanyadvancedthedigitaltransformationofriskmanagementandinternalcontrolbydeployingaunifiedriskmonitoringplatformthatintegratessevenkeydimensions:environment,businessenvironment,operations,decision-makinginformation,finance,humanresources,andcompliance.Leveraginganenterprisedataplatformtoconsolidatemulti-sourceinternalandexternaldata,JinpanSmartTechnologyhasinitiallydevelopedriskearly-warningmodelsforkeyareassuchasrelated-partytransactions,fundoccupation,biddingandprocurement,andengineeringconstruction.Thisshifthastransformedtheauditmodelfromtraditionalpost-eventsamplingtoproactive,pre-event,andpanoramic"penetrativesupervision,"significantlyexpandingthescope,depth,andresponsivenessofoversight.Furthermore,theriskmonitoringapproachhasevolvedfromlaggingindicatorreportingtoforward-lookingtrendpredictionandroot-causetraceability,continuouslydrivingbottom-upoptimizationofinternalcontrols.ThisenhancestheCompany’sabilitytoproactivelyidentifyanddefendagainstmajorrisks,fortifyingdefensesforcompliantoperationsandsteadygrowth.

Atthelevelofriskmonitoringandexecution,theCompanyreliesonadigitalriskmanagementplatformtoenablereal-timeidentification,analysis,andresponsetoriskswithinbusinessprocesses.Criticalriskdevelopmentsarepromptlyescalatedtotheseniorriskmanagementbody,ensuringclosed-loopcontrolandrapidresponsetoemergingrisks.All business divisions andbusiness departmentsThe first line of defense

Atthelevelofindependentoversight,theAuditDepartmentregularlyconductsreviewsofthedesignandoperationaleffectivenessofcontrolsystemsandprocedures.Itcarriesoutspecialinvestigationsintolossesoradverseincidentscausedbyinadequateriskcontrols,urgesrelevantbusinessunitstoimplementcorrectiveactions,andreportsauditfindingsinrealtimetotheAuditCommittee.The Board of Directors hasestablished an Audit

Committee

The second line of defense

Atthelevelofstrategicdecision-makingandoversight,theBoardofDirectorsservesasthehighestaccountabilitybodyforriskmanagement.Itisresponsibleforapprovingriskappetite,strategies,policies,andprocesses,definingtheenterprise-widerisktolerancethreshold,andexercisingultimateoversightovertheoperationandcontinuousimprovementoftheriskmanagementsystem.The Board of Directorsand the decision-makersThe third line of defense

Compliance and Risk Specialized TrainingProgram

TheCompanyconductedaseriesofspecializedtrainingprogramsin2025underthetheme"StrengtheningComplianceAwarenessandUpholdingProfessionalIntegrity,"includingcompany-wideconfidentialitytrainingandsessionsoncontractuallegalriskprevention,aimedatenhancingemployees’legalawarenessandprofessionalethics.Forcampus-recruitednewhires,theCompanyorganizedtargetedtrainingonbusinessethics,integrity,andconfidentialitypolicies.Formid-to-senior-levelmanagers,technicalkeypersonnel,andstaffinconfidentialpositions,specializedconfidentialitytrainingwasjointlydeliveredbytheCompanyincollaborationwithexternalregulatoryauthorities.Additionally,theCorporatePlanningDepartmentconductedenterprise-widepromotionanddisseminationofthenationalandcorporateconfidentialitymanagementsystem,providingsystematicinterpretationofclassificationlevels,managementprotocols,andaccountabilitymechanismsforbreaches.

Case

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Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Upholding Business Ethics and ComplianceJinpanSmartTechnologystrictlycomplieswithlawsandregulationssuchastheSupervisionLawofthePeople'sRepublicofChina,theAnti-MoneyLaunderingLawofthePeople'sRepublicofChina,andtheAnti-UnfairCompetitionLawofthePeople'sRepublicofChina.TheCompanyadherestotheprinciplesofvoluntariness,fairness,equivalentcompensation,andgoodfaith,whileupholdingsocialethicsandbusinessintegrity.Tostandardizethebusinessconductofallemployees—includingthoseatsubsidiariesanddispatchedpersonnel—JinpanSmartTechnologyhasformulatedandimplementedinternalpoliciessuchastheCodeofBusinessConductandEthics,theAnti-CorruptionandAnti-BriberyManagementSystem,andtheAnti-MonopolyandAnti-UnfairCompetitionManagementRegulations.In2025,noincidentsofcommercialbriberyorcorruptionwereidentifiedwithintheCompany,andtherewerenolawsuitsormajoradministrativepenaltiesarisingfromunfaircompetitionpractices.

LevelResponsibilitiesBe responsible for formulating anti-corruption and anti-bribery policies and systems, fostering a clean and ethical corporate culture, and establishing a robustinternal control system that comprehensively covers the prevention of corruption, bribery.Company and the management of its

affiliated branches (subsidiaries)Human Resources Department

Be responsible for establishing, improving, and effectively implementing internal controls within scope of affiliated branches (subsidiaries) to reduce opportunities forcorruption, bribery and grafts; taking appropriate remedial actions in response to any such incidents and remain subject to supervision by the Audit Department.

Audit Department

Beresponsibleforsupervisingandinvestigatinganti-corruptionandanti-briberyeffortsacrossthecompanyanditsaffiliatedbranches(subsidiaries).Specificresponsibilitiesinclude:

(1)Receivingandregisteringreportsrelatedtocorruption,bribery,andunethicalconduct;

(2)Organizinginvestigationsintoincidentsofcorruptionorbribery;

(3)Proposingcorrectiveactionsandaccountabilitymeasuresforcorruption,briberyandgrafts,andissuingformalinvestigationreports;

(4)Performingotherdutiesrelatedtoanti-corruptionandanti-bribery.

TheCompanyalsoconductscreditratingsandriskclassificationforitsbusinesspartners,implementingtargetedpreventiveandcontrolmeasurestoenhanceitsabilitytomanagebusinessethics-relatedrisks.JinpanSmartTechnologyconductedcomprehensiveassessmentofcorruptionandbriberyrisksacrossthecompanyin2025.Theevaluationfocusedontwelvekeybusinesscycles:sales,procurement,production,payrollandpersonnel,fundmanagement,financialreporting,fixedassets,engineeringprojects,researchanddevelopment,informationsystems,corporateplanningmanagement,andlistingmanagement.Potentialrisksofcorruptionandbriberywithineachcycleweresystematicallyidentified,andspecificmitigationmeasuresandactionplansweredevelopedaccordingly.Thisintegratedapproachenableseffectivemanagement,review,andresponsetorisksrelatedtocorruptionandbribery,ensuringthatESGgovernanceandriskcontrolsaredeeplyembeddedintodailyoperations.Inthisyear,JinpanSmartTechnologyachieved100%coverageofinternalreviewstargetingspecificbusinessethicsissuesacrossallrelevantoperationalsites.

Business ethics management

TheCompanyhasestablishedananti-corruptionframeworkjointlycomposedoftheHumanResourcesDepartment,managementatalllevels,andtheAuditDepartment.

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Stock code688676

Report and complaint managementJinpanSmartTechnologymaintainsastrict"zerotolerance"stancetowardbribery,corruption,andunfaircompetitionpractices.TheCompanyhasestablishedaWhistle-blowingSystemandmulti-channelreportingmechanisms,includingadedicatedhotlineandemailaddress.WepubliclydisclosetheAnti-CorruptionandAnti-BriberyandAnti-CorruptionManagementSystemonourofficialwebsitewhilepubliclyprovidingcontactinformationforwhistle-blowingpurposes,andweacceptwhistle-blowingfromanyorganizationorindividual.Uponreceiptofanywhistle-blowing,theBoardofDirectorsorappointedpersonnelpromptlyinitiatesaninvestigation,conductingthoroughandimpartialreviewsofallegedmisconduct.Appropriatecorrectiveactionsaretakenbasedonfindings.Onceviolationsareconfirmed,disciplinarymeasuresareimposedinaccordancewiththeseverityoftheoffense—rangingfrominternalpenaltiestoimmediateterminationand,inseriouscases,referraltojudicialauthorities.In2025,JinpanSmartTechnologyreceivedzeroconfirmedcasesofmisconductthroughitswhistle-blowingchannels.TheCompanyencouragesreportsmadeunderrealnamesandalsoacceptsanonymousreportsvialettersorphonecalls.TheCompanyupholdsastrictwhistleblowerconfidentialitypolicy,ensuringthatthepersonalinformationofwhistleblowers—whetheremployees,suppliers,orotherpartners—aswellasanymaterialstheyprovide,arekeptfullyconfidential.Anyformofretaliationisstrictlyprohibited.Personnelresponsibleforhandlingreportswhodiscloseconfidentialinformationorfailtoperformtheirdutiesproperly,aswellasindividualswhoretaliateagainstwhistleblowersortheirfamilies,willbesubjecttodisciplinaryactionaccordingtothegravityandimpactoftheiractions.Ifthebehaviorconstitutesacriminaloffense,thematterwillbelegallyhandedovertothejudicialauthoritiesforcriminalprosecution.

Anti-unfair competitionTomaintainafairmarketenvironmentandmitigateunfaircompetitionrisk,theCompanyhasestablishedaregularreviewmechanismthatfocusesonkeyareassuchassalesandprocurement,targetingmajorriskssuchaspricemanipulationandmarketsegmentation.TheMarketingDepartmenttakestheleadinorganizingsystematicevaluationsonaregularbasis,anddynamicallyadjuststhereviewfocusaccordingtoactualbusinessconditions.TheAuditDepartment,asanindependentsupervisorybody,independentlyreviewsandevaluatesthequalityofreviewandtheeffectivenessofrectification,ensuringthatriskcontrolformsaclosedloopandiseffectivelyimplemented.

Reporting Channels:

Tel: 86-0898-66811301-349Email: hanh@jst.com.cn

Co-Creating Value throughInnovation for a Shared Future

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Indicators2025Unit

Anti-corruption training

duration

Directors2HoursSenior management2HoursEmployees2Hours

Fostering a culture of business ethicsJinpanSmartTechnologyactivelyfostersacorporateculturerootedinintegrityandethicalconduct,promotingtheemployeecodeofconduct:"mutualassistanceandcare,loyaltyandgratitude,professionalismandefficiency,andintegrityandself-discipline."Itcommunicatesanddisseminatesanti-corruptionandanti-briberypoliciesandprocedurestoitsemployeesandpartnersthroughemail,bulletinboards,anditsofficialwebsite,ensuringtimelyandefficientconveyanceofthecommercialethicsrequirements.In2025,theCompanyachieveda100%signingratefortheintegritycommitmentsofitsemployeesanda100%signingratefortheintegrityandconfidentialityagreementwithnewsuppliers.Thisyear,thecoveragerateofemployees'ethicaltraininghasreached100%.TheCompanyenhancestheintegrityandcomplianceawarenessofallemployeesthroughtraining,encouragesallemployeestoparticipateinfosteringacultureofintegrityandhonesty,createsaworkenvironmentofintegrityandfairness,andconductsatleastonetrainingsessionannuallyonbusinessethicsandanti-corruptionfornewhires.In2025,theCompanyconductedinternaltrainingsessionsforallcampus-recruitedemployees,focusingonbusinessethics,integrityandself-discipline,aswellasconfidentialitypolicies,tocontinuouslyreinforceinternalconsensusonintegrityandself-discipline.

Co-Creating Value throughInnovation for a Shared Future

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688676

AppendixesKey Performance Indicators

ESG指标2024年2025年单位变动情况

Enviromentindicators

Photovoltaic self-consumption power1,273.88 1,575.9610,000 kWh23.71%Clean energy generation1,694.80 2,036.1810,000 kWh20.14%Proportion of clean energy used

61.35 89.17%45.35%Amount invested in environmental protection

770.47 224.99RMB 10,000-70.80%GHG emissions (Scope 1 and Scope 2)4,749.29 1,860.56Tons of carbon dioxide equivalent-60.82%Total greenhouse gas emissions (Scope 1, Scope 2)

0.007

0.0026

RMB 10,000 of Revenue

-62.86%Scope 1 GHG1,679.761,369.82Tons of carbon dioxide equivalent-18.45%Scope 2 GHG3,069.53

490.74

Tons of carbon dioxide equivalent-84.01%Sulfur dioxide (SO

) emissions

0.00

0.00

Tons0.00%Water use intensity

0.30

0.25

Tons per RMB 10,000 of Revenue-14.88%Industrial wastewater discharge intensity

0.037160.03371Tons per RMB 10,000 of Revenue-9.28%

Social indicatorsNumber of training sessions conducted252253Times0.40%Average training hours per employee7981Hours2.53%Cumulative patent technology284356Items25.35%

ESG INDICATORSYear 2024Year 2025UnitChanges

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ESG指标Enviromentindicators

Emissions

Nitrogen oxides (NOx) emissions

0.46 0.49 0.93 TonsSulfur dioxide (SO

) emissions

0.02 0.00 0.00 TonsVolatile organic compounds (VOCs) emissions

0.18 0.49 0.505TonsParticulate matter emissions

1.44 1.51 4.47 TonsTotal amount of non-hazardous waste3,616.27 3,554.34 3,701.63TonsIntensity of non-hazardous waste

0.00540.0051 0.00507

Tons per RMB 10,000 of

RevenueKitchen waste

77.49 28.53 0.00 TonsQuantity of waste cardboard

108.49 123.78 199.09 TonsRecycling volume of non-hazardous waste2,771.07 3,105.44 3,296.09TonsDisposal volume of non-hazardous waste

845.20 448.90 405.54 TonsTotal amount of hazardous waste

82.56 97.49 106.55 TonsIntensity of hazardous waste

0.000120.000140.000146

Tons per RMB 10,000 of

RevenueRecycling volume of hazardous waste/4.45 36.19 TonsDisposal volume of hazardous waste

79.36 93.04 70.36 TonsProportion of the total amount of waste transferred from theCompany's operations in landfills

/96.85 66.03%

GHG

GHG emissions (Scope 1 and Scope 2)8,773.00 4,749.29 1,860.56

Tons of carbon dioxide

equivalentTotal greenhouse gas emissions (Scope 1, Scope 2)

0.0130.0070.0026

Tons of carbon dioxideequivalent / RMB 10,000 of

RevenueScope 1 GHG1,958.00 1,679.76 1,369.82

Tons of carbon dioxide

equivalentScope 2 GHG6,815.00 3,069.53 490.74

Tons of carbon dioxide

equivalent

Year 2023Year 2024Year 2025UnitESG INDICATORS

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

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ESG指标

Resource usage

Total energy consumption5,522.70 5,686.95 6,125.39 Tons of standard coalLPG consumption/0.37 0.99 10,000 standard cubic meterNatural gas

67.48 55.09 43.69 10,000 standard cubic meterGasoline50,234.00 52,240.00 59,633.22 LitreDiesel22,290.00 20,024.00 20,388.54 LitreEnergy consumption intensity

0.00830.00820.0084

Tons of standard coal /RMB10,000 of RevenueElectricity usage35,875,34242,265,42944,910,403kWhElectricity intensity

53.77 61.20 61.56kWh/RMB 10,000 of RevenuePurchased electricity27,554,86529,526,59829,150,822 kWhPhotovoltaic self-consumption power

832.05 1,273.88 1,575.96 10,000 kWhClean energy generation

981.00 1,694.80 2,036.18 10,000 kWh

Equivalent to reduction in greenhouse gas emissions5,595.00 9,094.00 11,763.01

Tons of carbon dioxideequivalentPhotovoltaic power generation output

981.00 1,694.80 2,036.18 10,000 kWh

——

Equivalent to reduction in greenhouse gas emissions5,595.00 9,094.00 11,763.01

Tons of carbon dioxideequivalentInstalled capacity of deployed photovoltaic generation projects

23.00 23.00 23.75 MegawattProportion of clean energy used

36.21 61.35 89.17 %Renewable resource consumption/3,489.19 5,462.03Tons of standard coal

——

Total amount of solar energy used by the Company/1,565.60 4,790.96 Tons of standard coal

Year 2023Year 2024Year 2025UnitESG INDICATORS

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ESG指标

Resource usage

Total amount of hydroenergyused by the Company/43.47 0.00 Tons of standard coal

——

Total amount of green electricity purchased by the Company/1,880.12 11.72 Tons of standard coalPercentage of renewable resources/61.35 89.17 %—Proportion of solar energy used by the Company/27.53 78.21%—Proportion of hydroenergyused by the Company/0.76 0.00 %—Proportion of green electricity purchased by the Company/33.06 0.19 %Direct reduction of greenhouse gas emissions due to retrofittingequipment

//236.20

Tons of carbon dioxideequivalentDirect reduction of greenhouse gas emissions due to processimprovements

/447.68 0.00

Tons of carbon dioxide

equivalentDirect reduction of greenhouse gas emissions due to fuelreplacement

//1.60

Tons of carbon dioxide

equivalent

Water Resourcemanagement

Water consumption224,720206,202185,413.89 TonsWater use intensity

0.340.300.25

Tons per RMB 10,000 of

RevenueVolume of water recycled1,2361,3531,431TonsVolume of water saved

9.67 2.65 3.2410,000 TonsIndustrial wastewater discharge volume27,79625,66224,588TonsIndustrial wastewater discharge intensity

0.041660.037160.03371

Tons per RMB 10,000 of

RevenueCOD emissions/1.56 1.97TonsAmmonia nitrogen emissions/0.08 0.14TonsTotal nitrogen emissions/0.11 0Tons

Year 2023Year 2024Year 2025UnitESG INDICATORS

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ESG指标Packaging materialsPackaging materials consumption1,772.90 1,887.01 1,739Tons

Others

Amount invested in environmental protection

570.85 770.47 224.99 RMB 10,000Capital investment in greenhouse gas emission reduction/3,196.98 763.61RMB 10,000Number of environmental incidents or administrative penalties forenvironmental issues

000TimesProportion of operational sites that have undergone specificenvironmental risk assessments

//100%Percentage of collected Waste Electrical and Electronic Equipment(WEEE) relative to the total amount of Electrical and ElectronicEquipment (EEE) placed on the market

//0.05%Social indicators

Employeeemployement

Total number of employees2,2072,3182,286PersonsNumber of employees by employmenttype

2,2072,3182,286 Persons

Full time employeesPart time employees

000PersonsNumber of employees by job level

Part time employeesSenior management

111112Persons

Senior managementMiddle management

393838Persons

Middle managementGeneral management

717068Persons

General managementFrontline employees

2,0862,1992,168PersonsNumber of employees by gender

Frontline employeesMale

1,7351,7991,755Persons

MaleFemale

472519531PersonsThe proportion of women in senior management

36.436.450%Number of employees by educationalbackground

FemaleHigh school and below

979 955 913Persons

High school and belowAssociate degree

467 468 480Persons

Associate degreeBachelor’s degree

709 824 804Persons

Bachelor’s degreeGraduate degree andabove

52 71 89Persons

Year 2023Year 2024Year 2025UnitESG INDICATORS

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ESG指标

Employeeemployement

Number of employees by age

Age 30 and below630612549PersonsAge 31-501,4641,5561,555PersonsAge 50 and above113150182Persons

Number of employees by region

Southern China956938880PersonsCentral China616651655PersonsNorthern China535149PersonsEastern China259298315PersonsNorthwestern China414852PersonsSouthwestern China111116118PersonsNortheastern China616160PersonsHong Kong, Macao, andTaiwan

/11PersonsOverseas110154156PersonsTotal number of disabled employees242222PersonsProportion of employees from minority groups or disadvantagedgroups

//0.83%Total number of veterans employed413532PersonsNumber of new employees161111-32Persons

Employee turnover

Employee turnover rate

10.90 9.03 13.34 %By gender

Male

8.44 6.99 10.20%Female

2.46 2.04 3.14%By age group

Age 30 and below

3.51 4.04 5.80%Age 31-40

4.52 3.30 4.89%Age 41-50

1.66 1.18 1.67%Age 50 and above

1.21 0.51 0.98%

Year 2023Year 2024Year 2025UnitESG INDICATORS

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Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

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ESG指标

Employee turnoverBy geographical region

Southern China

4.40 2.59 3.90%Central China

2.92 2.83 4.70%Northern China

0.28 0.47 0.38 %Eastern China

1.78 1.96 1.97%Northwestern China

0.36 0.20 0.30 %Southwestern China

0.52 0.32 0.42 %Northeastern China

0.44 0.27 0.38 %Hong Kong, Macao, andTaiwan

/0.00 0.00 %Overseas

0.20 0.39 1.29 %Remuneration andwelfare

Rate of labor contract signing100100100%Coverage rate of social insurance100100100%Average annual paid leave days per employee

6.006.706.88Days

Occupational healthand safety

Number of new cases of occupational diseases001PersonsRate of employee physical examination/100100%Number of work-related fatalities000PersonsNumber of workdays lost due to work-related injuries000DaysTotal duration of safety education and training3,4564,5447,887.66HoursNumber of factories certified with ISO 45001 Occupational Healthand Safety Management System

477PiecesPercentage of factories certified with ISO 45001 Occupational Healthand Safety Management System

/100100%Expenditure on work-related injury insurance/84.41172RMB 10,000Percentage of employees covered by work-related injury insurance/100100%Number of workplace accidents involving employees/00OccurrencesRate of workplace accidents involving employees/00%

Year 2023Year 2024Year 2025UnitESG INDICATORS

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Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

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ESG指标

Occupational healthand safety

Number of safety drills142626TimesNumber of training sessions on quality, safety, and internal control//72TimesPercentage of operational sites subject to employee health andsafety risk assessment

//100%Coverage rate of safety agreement signing//100%

Employee training anddevelopment

Employee satisfaction//81.96%Employee training coverage100100100%Number of training sessions conducted243252253TimesTotal number of employee training participation63,80565,16567,574PersonsTotal number of employees trained2,2072,3182,286PersonsProportion of trained employees bygender

Male100100100%Female100100100%Number of trained employees by gender

Male1,7351,7991,755PersonsFemale472519531PersonsProportion of trained employees byemployment category

Senior management100100100%Middle management100100100%General management100100100%Frontline employees100100100%Number of trained employees byemployment category

Senior management111112PersonsMiddle management393838PersonsGeneral management717068PersonsFrontline employees2,0862,1992,168PersonsTrained hours by gender

Male130,361137,352137,100HoursFemale40,60045,98348,000Hours

Year 2023Year 2024Year 2025UnitESG INDICATORS

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Employee training anddevelopment

Total training hours by employee type

Senior management9049291,035HoursMiddle management2,480 2,514 2,600HoursGeneral management5,062 5,239 5,511HoursFrontline employees162,515 174,653 175,954HoursTotal training hours of employees170,961 183,335 185,100 HoursAverage training hours per employee777981HoursTrained hours for trained employees bygender

Male757678HoursFemale868990HoursNumber of trained employees byemployment category

Senior management828486HoursMiddle management646668HoursGeneral management717581HoursFrontline employees787981HoursAnnual training expenditure amount/74.0662.4RMB 10,000

Product quality andservice

Percentage of products sold or delivered that were recalled forquality reasons

0.0080.0110.016%Number of products and service-related complaints received13119PiecesComplaint resolution rate for products and services100100100%Customer satisfaction

98.0398.26 98.39 %Number of products that have obtained quality certification306355332PiecesFirst-pass rate for finished technology products//98.81 %Product R&D

R&D investment

3.513.563.57RMB 100 millionNumber of R&D team members394408400PersonsPercentage of R&D team members

17.85 17.60 17.5%

Year 2023Year 2024Year 2025UnitESG INDICATORS

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

ESG指标

Product R&D

Invention patents

364173Items

CumulativeFiled

92759Items

FiledNew

18532ItemsUtility model patents

NewCumulative

206235271Items

CumulativeNew

313654ItemsDesign patents

NewCumulative

8812Items

CumulativeNew

034ItemsNumber of standards participated incompilation

NewCumulative

101418Items

CumulativeNew

144ItemsIntellectual property related training

NewNumber of training sessions conducted

211Times

Number of training sessions conductedTotal training time

481.5Hours

Total training timeTotal number of employeetraining participation

14610200PersonsNumber of trademark rights363749ItemsNumber of copyright rights497479ItemsNumber of products with carbon footprint certification181616Items

Supply chainmanagement

Total number of suppliers1,1371,1081,591SuppliersNumber of domestic suppliers1,1321,1021,305SuppliersNumber of suppliers by geographicalregion

Total number of employeetraining participationSouthern China

371442483Suppliers

Southern ChinaCentral China

///Suppliers

Central ChinaNorthern China

9785116Suppliers

Northern ChinaEastern China

557490595Suppliers

Eastern ChinaNorthwestern China

272235Suppliers

Year 2023Year 2024Year 2025UnitESG INDICATORS

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ESG指标

Supply chainmanagement

Southwestern China574447SuppliersNortheastern China211929SuppliersHong Kong, Macao, Taiwan and overseas76286Suppliers

Number of suppliers by geographical regionNumber of suppliers reviewed in accordance with the practices relating to engaging suppliers

637066Suppliers

Number of suppliers reviewed in accordance with the practices relating to engaging suppliersPercentage of suppliers that have undergone corporate social responsibility (CSR) assessment(e.g., through questionnaires)

/8.756.1%

-site corporate social responsibility (CSR) audit/2.081.45%

/00Suppliers

Number of suppliers that have failed the audit due to environmental, safety, and health factorsPercentage of audited/assessed suppliers that have engaged in corrective actions or capacity

-

/9694%

100100100%

Signing rate of the Supplier Confidentiality and Integrity Agreement among suppliersSigning rate of the Code of Conduct for Suppliers in Collaboration with Jinpan Smart Technologyamong target suppliers

/100100%

Signing rate of the Code of Conduct for Suppliers in Collaboration with Jinpan Smart Technologyamong target suppliersSigning rate of the Commitment Letter on Social Responsibility and Occupational Health andSafety Protection among target suppliers

/100100%

Signing rate of the Commitment Letter on Social Responsibility and Occupational Health andSafety Protection among target suppliersPercentage of target suppliers who have signed contracts containing environmental, labor, andhuman rights requirements

/100100%

61010Suppliers

/100100%

Percentage of suppliers providing conflict mineral information (e.g., CMRT)The amount of overdue payments to small and medium

-sized enterprises/00RMB 10,000

The amount of overdue payments to small and mediumSupplier signing rate of the Sustainable Procurement Procedure

/100100%

Anti-corruption

Supplier signing rate of the Sustainable Procurement ProcedureNumber of participants in anti

-corruption2,2072,3182,286Persons

Number of participants in antiAverage duration of anti

-corruption training222Hours

Average duration of antiCoverage rate of employee business ethics training

//100%

Coverage rate of employee business ethics trainingNumber of employees attending anticorruption training

1212,3182,286Persons

Number of employees attending anticorruption trainingManagement Integrity Agreement signing rate

100100100%

Management Integrity Agreement signing rateEmployee Integrity Agreement signing rate

100100100%

Employee Integrity Agreement signing rateNumber of corruption lawsuits filed or concluded

000Occurrences

Number of corruption lawsuits filed or concludedPercentage of all sites that have undergone internal assessments or reviews focusing on specificbusiness ethics issues

//100%

Year 2023Year 2024Year 2025UnitESG INDICATORS

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

688676

ESG指标

Public welfare andcharity

Total investment amount for rural revitalization

6.7011.003.00RMB 10,000Number of employees receiving financial aid574PersonsNumber of employees with difficulties who were visited during theSpring Festival

323919PersonsAmount of financial assistance provided to employees in need

14.0012.348.53RMB 10,000Number of charitable donations initiated91117TimesTotal amount of charitable donations

81.9793.2746.39RMB 10,000Number of volunteers/40184PersonsHours of volunteer service//920HoursScope and number of beneficiary groups reached by ruralrevitalization

//1,200PersonsEconomic indicators

Economic performance

Revenue

66.6869.0172.95RMB 100 millionNet profit attributable to shareholders of listed company

5.055.746.60RMB 100 millionSocial contribution per share

2.572.883.21RMB/shareRevenue per employee

302.13297.71319.12RMB 10,000Profit per employee

22.8824.7828.85RMB 10,000Governance indicators

Governance

Shareholders’ meetings325TimesBoard of Directors meetings131215TimesNumber of directors666PersonsExecutive directors222PersonsNon-executive directors222PersonsIndependent directors222PersonsFemale directors111PersonsPercentage of female directors

16.7%16.7%16.7%%

Year 2023Year 2024Year 2025UnitESG INDICATORS

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

Guidelines for Self-Regulation of Listed Companies—Sustainability Report (Trial)

DimensionNo.IssueCorresponding articlesReport sections

Environmental

1Responding to climate changeArticles 21 to 28Building a sustainable enterprise on a carbon-neutral foundation2Pollutant emissionArticle 30Waste gas management3Waste disposalArticle 31Packaging materials and waste4Ecosystem and biodiversity conservationArticle 32Biodiversity protection5Environment compliance managementArticle 33Environmental management system6Energy utilizationArticle 35Energy management7Water resource utilizationArticle 36Water resource management8Circular economyArticle 37Packaging materials and waste

Social

9Rural revitalizationArticle 39Rural revitalization10Social contributionArticle 40Public welfare and charity11Innovation-driven developmentArticle 42R&D and innovation, intellectual property protection12Science and technology ethicsArticle 43R&D and innovation13Supply chain securityArticle 45Supply chain management14Equal treatment of SMEsArticle 46Empower Industry Development15Product and service safety and qualityArticle 47Product quality and safety, marketing, and customer service16Data security and customer privacy protectionArticle 48Customer privacy and information security17EmployeesArticle 50Shared vision, shared successSustainability-relatedgovernance

18Due diligenceArticle 52ESG governance19Stakeholder CommunicationArticle 53Stakeholder communication20Anti-bribery and anti-corruptionArticle 55Business ethics management, business ethics and cultural construction21Anti-unfair competitionArticle 56Anti-unfair competition

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code

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GRI Standard Index

Statementofuse

HainanJinpanSmartTechnologyCo.,Ltd.reportedtheinformationreferencedinthisGRIcontentindexfortheperiodfromJanuary1,2025,toDecember31,2025,inaccordancewithGRIstandardsGRI1usedGRI1:Foundation2021

指标编号披露项对应页码

GRI 2:

General Disclosures 2021

2-1 Organizational detailsP3-62-2 Entities included in the organization’s sustainability reportingP12-3 Reporting period, frequency and contact pointP12-5 External assuranceP1122-6 Activities, value chain and other business relationshipsP5, P27-302-7 EmployeesP70-762-8 Workers who are not employeesP972-9 Governance structure and compositionP882-10 Nomination and selection of the highest governance bodyP882-11 Chair of the highest governance bodyP22-12 Role of the highest governance body in overseeing the management of impactsP882-13 Delegation of responsibility for managing impactsP882-14 Role of the highest governance body in sustainability reportingP72-16 Communication of critical concernsP92-23 Policy commitmentsP72-24 Embedding policy commitmentsP72-27 Compliance with laws and regulationsP46, P48, P50-51, P63, P68-70, P75, P90-922-29 Approach to stakeholder engagementP9

DISCLOSURELOCATIONGRI STANDARD

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

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Material Topics 2021

3-1 Process to determine material topicsP11-153-2 List of material topicsP12-133-3 Management of material topicsP13GRI 201:

Economic Performance 2016

201-1 Direct economic value generated and distributedP3GRI 205:

Anti-corruption 2016

3-3 Management of material topicsP90-92205-1 Operations assessed for risks related to corruptionP92205-2 Communication and training about anti-corruption policies and proceduresP92205-3 Confirmed incidents of corruption and actions takenP92

GRI 302:

Energy 2016

3-3 Management of material topicsP46-47302-1 Energy consumption within the organizationP46-47302-2 Energy consumption outside of the organizationP46-47302-3 Energy intensityP47302-4 Reduction of energy consumptionP46-47

GRI 303:

Water and Effluents 2018

3-3 Management of material topicsP48303-1 Interactions with water as a shared resourceP48303-2 Management of water discharge-related impactsP48303-3 Water withdrawalP48303-4 Water dischargeP48303-5 Water consumptionP48

GRI STANDARDDISCLOSURELOCATION

Co-Creating Value throughInnovation for a Shared Future

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GRI 305:

Emissions 2016

3-3 Management of material topicsP39-42, P49305-1 Direct (Scope 1) GHG emissionsP39-42305-2 Energy indirect (Scope 2) GHG emissionsP39-42305-4 GHG emissions intensityP39305-5 Reduction of GHG emissionsP39305-7 Nitrogen oxides (NO

X), sulfur oxides (SO

X), and other significant air emissionsP49

GRI 306:

Waste 2020

3-3 Management of material topicsP50-51306-1 Waste generation and significant waste-related impactsP50-51306-2 Management of significant waste-related impactsP50-51306-3 Waste generatedP50-51306-4 Waste diverted from disposalP50-51306-5 Waste directed to disposalP50-51GRI 308:

Supplier EnvironmentalAssessment 2016

3-3 Management of material topicsP79-82308-1 New suppliers that were screened using environmental criteriaP79308-2 Negative environmental impacts in the supply chain and actions takenP79-82GRI 401:

Employment 2016

3-3 Management of material topicsP68-72401-1 New employee hires and employee turnoverP69401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employeesP70-72

GRI STANDARDDISCLOSURELOCATION

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

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GRI 403:

Occupational Health and Safety2018

3-3 Management of material topicsP73-74403-1 Occupational health and safety management systemP73403-2 Hazard identification, risk assessment, and incident investigationP73-74403-3 Occupational health servicesP73-74403-5 Worker training on occupational health and safetyP73-74403-6 Promotion of worker healthP73-74403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationshipsP73-74403-8 Workers covered by an occupational health and safety management systemP73-74403-9 Work-related injuriesP73-74GRI 404:

Training and Education 2016

3-3 Management of material topicsP75-76404-1 Average hours of training per year per employeeP75-76404-2 Programs for upgrading employee skills and transition assistance programsP75-76GRI 405:Diversity and EqualOpportunity 2016

3-3 Management of material topicsP69405-1 Diversity of governance bodies and employeesP69GRI 406: Non-discrimination 2016

3-3 Management of material topicsP69406-1 Incidents of discrimination and corrective actions takenP69GRI 407: Freedom of Associationand Collective Bargaining 2016

3-3 Management of material topicsP69407-1 Operations and suppliers in which the right to freedom of association and collective bargaining may be at riskP69GRI 408:

Child Labor 2016

3-3 Management of material topicsP68408-1 Operations and suppliers at significant risk for incidents of child laborP68

GRI STANDARDDISCLOSURELOCATION

Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality andEfficiency, and Consolidating GovernanceFeatureForewordAppendix

Stock code688676

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GRI 409:

Forced or Compulsory Labor 2016

3-3 Management of material topicsP68409-1 Operations and suppliers at significant risk for incidents of forced or compulsory laborP68GRI 414:

Supplier Social Assessment 2016

3-3 Management of material topicsP79-82414-1 New suppliers that were screened using social criteriaP79414-2 Negative social impacts in the supply chain and actions takenP80GRI 418: Customer Privacy 2016

3-3 Management of material topicsP80418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer dataP80

GRI STANDARDDISCLOSURELOCATION

Co-Creating Value throughInnovation for a Shared Future

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Feedback Form

RespectedReaders,ThankyouforreadingtheHainanJinpanSmartTechnologyCo.,Ltd.2025SustainabilityReportandEnvironmental,Social,andGovernance(ESG)Report.Tobettermeetyourneedsandprovidemorevaluableinformationtoyouandallstakeholders,whilepromotingJinpanSmartTechnology’scomprehensivemanagementcapabilitiesandworkperformance,andenhancingourabilityandlevelofsocialresponsibility,wesincerelyhopethatyoucanprovidevaluablefeedbacksonthereport.Youcandosobycontactingusthroughthefollowingchannels.

Tel: 0898-66811301Email: info@jst.com.cn

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Leading a Low-Carbon Journey,

Co-Building a Green Frontier

Co-Creating Value throughInnovation for a Shared Future

Strengthening Foundations, Enhancing Quality and

Efficiency, and Consolidating GovernanceFeatureForewordAppendixStock code688676

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