Zhitong Finance App News. Recently, Sinotruk (03808) released the “2023 Environmental, Social and Governance Report”. The report is a true reflection of the group's active implementation of economic, social and environmental responsibilities to achieve comprehensive, coordinated and sustainable development.
According to reports, Sinotruk is one of the leading truck manufacturers in China, specializing in the development and manufacture of heavy trucks, medium and heavy trucks, light trucks, etc., as well as related major assemblies and components. In addition, the group provides financial services to those involved in the production and sale of its products and Sinotruk Group.
The ESG report shows that Sinotruk has established a three-level ESG governance structure of “governance layer - management level - executive level”, clarifying the duties and goals of each level, and carrying out ESG governance work in a systematic manner. As the Group's highest decision-making and supervisory body on ESG matters, the Board of Directors bears full responsibility for the Group's ESG strategy, ESG-related goal setting, target review progress, and ESG performance. At the same time, the Group fully listens to suggestions and opinions from various stakeholders to promote the identification and evaluation of the Group's important ESG issues.
Create quality products and build a responsible supply chain
Sinotruk actively fulfills its responsibilities and mission as a leading truck manufacturer in China, and is committed to creating high-quality products, continuously promoting technological innovation, and actively developing a clean energy ecosystem. In 2023, all manufacturing units affiliated with Sinotruk passed IATF 16949 and ISO 9001 quality management system certifications.
As of December 31, 2023, Sinotruk had a total of 3,201 R&D personnel, accounting for 11.67% of all employees; participated in 3 national key R&D projects, undertook 1 provincial key R&D project, and won 4 science and technology awards from national and provincial industry associations. It invested 2,450 billion yuan in science and technology research and development, accounting for 2.87% of revenue. Among them, clean technology research and development expenses reached 310 million yuan, 90 clean technology patents were obtained, and revenue from new energy products increased by 144% compared to 2022.
In terms of supply chain management, Sinotruk has established a multi-dimensional supplier management system, using intelligent management tools to carry out supplier management, and unify the key processes of selecting, reviewing, and withdrawing suppliers from various business lines. At the same time, the group continues to build a sustainable supply chain, always paying attention to supply chain environmental and social risks, and integrating them into the entire supplier management process.
It is worth mentioning that Sinotruk focuses on collaborative development with suppliers, establishes stable cooperative relationships by strengthening communication with suppliers, helps suppliers improve their capabilities through diverse training courses, supplier conferences, etc., to ensure a stable supply chain, effectively improve product quality, and reduce potential risks. In 2023, the group organized a total of 10 supplier trainings around quality awareness and quality management levels. A total of 317 suppliers and 474 people participated in the relevant training.
Implement green and low-carbon operations and vigorously develop clean energy
On the environmental side, Sinotruk uses greenhouse gas emissions as an important indicator for measuring climate change, and is continuously upgrading equipment, facilities and process technology through a series of initiatives such as replacing toxic raw materials such as oil paint, building new activated carbon adsorption facilities, and installing centralized oil mist treatment systems to promote the transformation of low emissions in production and operation. In 2023, the group's total greenhouse gas emissions were 436,383.43 tons of carbon dioxide equivalent, the greenhouse gas emission density was 5.1 tons of carbon dioxide eq/revenue (RMB million), and the exhaust gas emission compliance rate was 100%.
The group has increased investment in research and development of new technologies for low-carbon processes and energy-saving technology reform. Every year, it sets up special funds for energy-saving research and development, technology improvement, equipment updates, etc., to promote the development and application of low-carbon technology in the field of heavy vehicles; and establish an intelligent information system to manage energy in a refined manner. In addition, increase employee energy management knowledge training to raise the awareness of all employees on energy saving and environmental protection.
While promoting energy-efficient production, Sinotruk continues to optimize its energy usage structure and vigorously develop clean energy. In 2023, the Jinan Light Truck Manufacturing Company and the Laiwu Plant launched a two-line photovoltaic project. The project adopted an advanced energy management system to monitor and optimize the scheduling of photovoltaic power generation in real time, maximizing energy efficiency. The Jinan light truck photovoltaic power plant generates a total of about 3.5 million kWh throughout the year, effectively reducing the company's dependence on traditional energy.
Ensure safety and health, and focus on employee development
In order to comprehensively guarantee production safety, Sinotruk has begun by establishing a sound safety management system, formulating scientific and strict safety management goals and plans, continuously improving safety management measures, using intelligent means to empower safety management work, and continuously strengthen safety inspections to raise the level of safety risk prevention. In 2023, all of Sinotruk's subsidiaries passed the ISO 45001 occupational health and safety management system certification, with a certification coverage rate of 100%.
Sinotruk attaches importance to employee training and development. Through the online training platform “Sinotruk Cloud Academy”, Sinotruk provides employees with rich online courses covering general education, vocational skills improvement, management and leadership development, etc., to meet the diverse learning needs of employees. At the same time, a series of offline training courses have been carried out, which not only enriches the learning experience of employees, but also helps improve teamwork and practical skills. During the reporting period, the group carried out a total of 2,664 training sessions, with 131,944 participants, totaling more than 1.99 million hours, 60 hours of training per capita, and a staff training rate of 100%.
In addition, the group cooperated with universities such as Shandong University, Tianjin University, and Shanghai Jiao Tong University to launch a master's degree promotion program for all employees to promote their academic and professional growth. In 2023, Sinotruk will select outstanding employees through internal recommendations and selection tests to provide them with full tuition support. By the end of the reporting period, a total of 392 employees had participated in the program, of which 150 had successfully obtained their degrees.
(Link ESG researcher Deng Shixia)