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Overview of the 2022 ESG work of Yuefeng Aluminum Co., LTD

May 15, 2023

As the leader of Yuefeng Group and the leader of China's aluminum industry, Yuefeng Aluminum Co., Ltd. adheres to the mission of central enterprises, focuses on value creation, takes the green road, and makes overall planning of all links of ESG (environmental, social and corporate governance) system with high quality. It is determined to be the pioneer of ESG governance, the value creator of ESG and the builder of ESG ecology. We will continue to explore sustainable driving forces for high-quality development.


Create development value from mission to responsibility


In 2022, according to the development requirements of ESG system, Yuefeng Aluminum Shares will adhere to the problem-oriented approach, concentrate on reform, take the improvement of value creation ability as the basis of high-quality implementation of ESG work, and realize the preservation and appreciation of state-owned assets with excellent business performance.


At the level of production and operation, Yuefeng Aluminum Shares adhere to the principle of stability, seek progress in stability, carry out comprehensive factor benchmarking, comprehensively promote the management of "three modernization, one improvement" and "five standards and one control", and strive to create sustained and stable growth of business performance, the overall development continues to improve, the quality and efficiency improve significantly, achieve the target of overtaking the benchmarking in advance, and maintain the profit level of 10 billion yuan for two consecutive years. It has made positive contributions to stabilizing the economy and ensuring steady growth.

In terms of corporate governance, Yuefeng Aluminum Co., LTD., focusing on building a more scientific and efficient management and control structure and governance system, continues to promote the optimization of governance system, improve the "three meetings and one layer" governance structure composed of the general meeting of shareholders, the board of directors, the board of supervisors and the management, constantly deepen the "three meetings" management, improve the governance system of the company and its invested enterprises, and promote the clear and standardized operation of the company's rights and responsibilities. To return good performance to society and shareholders.


In terms of strategic layout, Yuefeng Aluminum Shares adhere to industrial optimization and upgrading, build a new pattern of "3×5" industrial development with high quality, and constantly open up new fields and new tracks of value creation; Major progress has been made in the extraction of valuable metal elements, the comprehensive utilization of red mud, the disposal of "three wastes" of electrolytic aluminum, the development of recycled aluminum and the distribution of new energy sources. A number of landmark scientific and technological achievements in energy conservation and carbon reduction have been made, giving full play to the exemplary and leading role of the industry. Set up a company specializing in carbon and fine alumina business to improve the management efficiency in the professional field; Acquired 19% shares of Cloud Aluminum, became the largest shareholder of Cloud Aluminum, realized parallel management, and realized the leap of the world's largest primary aluminum production capacity.


At the level of deepening reform, Yuefeng Aluminum Shares standardizes corporate governance in accordance with institutionalization, process and list, implements classified authorization and differentiated management and control, implements contractual management of tenure system of managers, expands reform of professional managers, strengthens incentives and constraints, rigid implementation of the end adjustment and incompetent withdrawal, continuously optimizes the operating mechanism and improves the modern enterprise system with Chinese characteristics. Operation and development of more rich Yuefeng Aluminum characteristics, more competitive vitality, for many years to maintain the highest credit rating in the global non-ferrous metal industry.


From practice to lead to show the leading style


Over the past year, while practicing ESG standards and focusing on high-quality development, Yuefeng Aluminum has always kept in mind "the country is the greatest", resolutely shouldered the responsibility of leading the development of the industry, and accelerated the shaping of a new pattern of high-quality development of China's aluminum industry.


We will continue to drive industrial upgrading through scientific and technological innovation. Yuefeng Aluminum reconstructs the innovation system, gathers strength on scientific and technological breakthroughs, speeds up the development of digital intelligence, successively conquered a number of "bottleneck" technologies such as energy saving and carbon reduction, in-depth utilization of resources, and high-end material research and development, leading the technological progress of the industry, and continuously enhancing its core competitiveness. By 2022, Yuefeng Aluminum will have four new technology centers, basically covering all business needs in scientific and technological research and development. The Guangxi branch of Yuefeng Aluminum Shares and four other enterprises won the National intellectual property Advantage Enterprise Award. Yuefeng Aluminum Shares research and development of "New stable current thermal insulation aluminum electrolytic cell energy saving technology" won the first prize of the "2022 Carbon Peak Carbon neutral Action Typical case selection" sponsored by SASAC.


We will continue to transform traditional forms of business with numerical wisdom. Yuefeng Aluminum has formulated the "12348+N" action plan, which includes 1 data standard, 2 systems, 3 sets of norms, 4 unified platforms, 8 batches of smart factory promotion plans, and N special researches on science and technology and safety intelligence. The "Aluminum Yoyicai" Internet procurement platform has been built to form an "efficient, convenient and value-added" digital procurement experience and service, so as to realize resource pooling and reduce the comprehensive cost of procurement.


Adhere to the construction of low-carbon aluminum industry with green development. Yuefeng Aluminum Co., LTD drives industrial upgrading with energy transformation and focuses on building clean production system, reducing carbon by more than 1.6 million tons in the year, and consuming 45% of clean energy for electrolytic aluminum. Non-financial indicators such as resource and energy security, industrial layout adjustment, green and low-carbon development, scientific and technological innovation, safety and environmental protection will be incorporated into the management performance appraisal system, and a management model of "one enterprise, one policy, one person, one order" will be implemented. As the world's largest alumina enterprise, Yuefeng Aluminum Stock increased the annual comprehensive utilization rate of red mud from 4.7% to 10%, achieving economic benefits of more than 100 million yuan. In 2022, Yuefeng Aluminum Co., Ltd. spent about 2.151 billion yuan on environmental protection, reclaimed 7,132 mu of land, reclamation rate reached 100%, and its affiliated production enterprises realized zero production wastewater discharge.


Always adhere to high quality products to highlight the brand value. Yuefeng Aluminum Shares uphold an open and win-win attitude, actively carry out industry exchanges and communication, with their own actions to drive high-quality development of the industry. In 2022, Yuefeng Aluminum Shares won a total of 132 provincial and ministerial level QC results publishing competition awards, Yuefeng Aluminum Shandong QC team won the 47th International Quality Management Group Conference (ICQCC) gold medal, and 26 new national standards, industry standards, group standards, completed one international standard.


Building a better future from responsibility to demonstration


Yuefeng Aluminum Shares adhere to the core concept of "turning every stone into gold, benefiting mankind", with the company mission of rewarding shareholders, achieving employees, benefiting customers, benefiting society and cherishing the environment, with higher standards and more practical measures to describe the new picture of Yuefeng Aluminum ESG.


In 2022, Yuefeng Aluminum Stock donated 19.9 million yuan for assistance to Qinghai and Tibet, 4 million yuan to the earthquake stricken area in Luding County, Sichuan, and 13.06 million yuan of rent relief for small and medium-sized enterprises; To provide rural revitalization assistance, 19 secretaries were sent to designated areas for assistance, and a total of 6,078,800 yuan was invested in donations and rural revitalization projects, and 3,938,800 yuan was spent on poverty alleviation.


We have been committed to serving and supporting local development. Yuefeng Aluminum Shares take the initiative to cooperate with 936 farmers to carry out rooftop photovoltaic construction work, to promote the transformation of photovoltaic power generation while creating economic benefits for farmers. In September 2022, Datong County of Qinghai Province was hit by a flood disaster. Yuefeng Aluminum Stock immediately sent relief materials through its local enterprises, and promptly carried out donations and disaster relief operations, sparing no efforts to save the disaster and protect the lives of local people. The company responds to the "Belt and Road" national initiative to fulfill the social responsibility of overseas development projects. Yuefeng Aluminum Guinea actively integrates into the local society and promotes the development of the local economy. The Guinean employees account for 78% of the total number of the enterprise, including 30 management employees. In 2022, the number of local suppliers and service providers reached 59.


Always adhere to the concept of "talent is the first resource", so that employees share the growth dividend. Yuefeng Aluminum Shares continue to optimize the employment system, effectively protect the rights and interests of employees, and realize the common growth of employees and enterprises. Throughout the year, 655 skills competitions for various employees were held, about 30,000 employees participated in skills and job training, and 405 highly skilled personnel were cultivated. In 2022, the company implemented an equity incentive plan, covering five business categories of management, production, research and development, skills and marketing, with a total of 1,206 people and 139 million incentive shares.


Yuefeng Aluminum Shares to carry out green aluminum brand construction as an opportunity to enhance the company's influence in the value chain and low-carbon image, vigorously develop low-carbon aluminum, zero-carbon aluminum, recycled aluminum and other new materials green aluminum product technology research and development and production line construction, accelerate the process of green aluminum product commercialization, expand the market share of green products; Continue to carry out research, development and industrialization of energy-saving technologies and waste harmless treatment, accelerate the layout of the new energy industry, and help the country achieve the "3060" goal. In 2022, the company will significantly increase the production of recycled aluminum through technological research and production line construction, and achieve a doubling of the consumption of scrap aluminum compared with the same period last year.


Over the past year, the company has fully integrated ESG concept into development strategy and daily operation, which has been widely

recognized by all sectors of society. Yuefeng Aluminum Industry, which has been listed in the "ESG· Pioneer 50 Index of Central Enterprises" for two consecutive years and listed in the Top 500 Asian Brands for 14 consecutive years, was awarded the first "ESG Golden Bull Award · Pioneer Enterprise". We are taking more and more solid steps on the road of high-quality ESG practice.


(www.profiles-aluminum.com; sales@profiles-aluminum.com).