中宠股份(002891):烟台中宠食品股份有限公司2025年度环境、社会和公司治理（ESG）报告（英文版）
原标题:中宠股份:烟台中宠食品股份有限公司2025年度环境、社会和公司治理（ESG）报告（英文版） YANTAI CHINA PET FOODS CO., LTD 2025-04 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT. NO.88 FEILONG ROAD, LAISHAN ZONE, YANTAI, CHINA 400-111-8698 CONTENTS Innovation-Driven Industrial Upgrading People First, United in Purpose Report Overview 01 ESG Governance System 47 107 83 CONTENTS Innovation-Driven Industrial Upgrading People First, United in Purpose Report Overview 01 ESG Governance System 47 107 83 Scope of the Report 1.Overall Employee Profile ··················85 1.Leading Industry Quality ··········· 109 Reporting Standards 2.Compensation and Promotion Policies ······Sound Governance and Prudent Operations 86 2.A New Era of Digital Transformation · 111 53 Data Sources 3.Occupational Health and Safety ·············87 3.Upholding Research Ethics ········· 112 1.Robust Corporate Governance Framework ······ 55 Report Access 4.Professional Skills Development ············89 4.Intelligent Quality Control ·········· 112 2.Information Disclosure and Investor Relations ·· 59 5.Employee Representative Conference ······· 91 3.Investor Protection and Education ············· 616.Employee Benefits ·························91 About China Pet Foods 05 7.2025 Recognition Ceremony ················93 5.Fulfilling Tax Obligations with Responsibility ··· 64Core Business Product Safety and Quality 113 8.Facilitating Family Reunions ·················95 Company Culture 9.Pet-Friendly Workplace ····················96 Highlights of 2025 10.Party Organization Development ········· 96 Green Development and Ecological Harmony 65 Company Milestones Protection of Supplier, Customer, 1.Environmental Compliance and Management ··· 67 97 and Consumer Rights Core Competitiveness 17 Indices of Guidelines Topics 120 1.Brand Strength ···················· 172.Global Vision and Strategic Layout ·· 35 Public Relations 3.Product Quality Advantage ········· 37 101 and Social Responsibility 4.Technological and R&D Strengths ··· 39 Green Growth, Smart Future 735.Strong Risk Resilience ·············· 43 1.U.S. Facility ·································· 75 2.Rooted in Real Economy ··················· 104 6.Strategy in Action ·················· 452.Canada Facility ······························ 77 3.Fulfilling Corporate Responsibility ·········· 105 3.New Zealand Facility ························· 79 4.Through Light and Lens ···················· 106 Honors and Accreditations 45 4.Mexico Facility ······························· 81 5.Supporting Animal Welfare ················· 106 The Company is principally engaged in the research, development, production and sale of pet food. Its portfolio spans both canine and feline categories, encompassing dry complete food, wet food, treats and nutritional supplements. Its core product lines comprise staple pet food, wet pet food and pet treats, each comprising a broad range of sub-categories. These include fresh- meat formulas, complete wet diets, freeze-dried treats, baked products, alongside a wide range of protein-based treats—primarily chicken, duck, beef and fish. The portfolio is further complemented by pet biscuits and dental chews, among othvver offerings. In total, the company offers more than ten product lines, comprising over 1,000 SKUs.Our Philosophy Dry Foods Pets are our friends and part of 1. our family. Our Mission Promote the healthy, standardized Wet Foods 2. and high-quality development of China’s pet industry. Our Vision Pet Treats 3. To be the leading enterprise in global pet food industry. Core Value Health 4. Customer, Quality, Innovation, Responsibility Supplement Leapfrog Growth Phase：2023-2025 capabilities, supporting the Company’s brand partnered with People's Daily Online’s “Transparent Factory” program to showcase its manufacturing processes through brand positioning as a provider of export-grade, high-quality pet food products. It also demonstrated WANPY?’s confidence in its a live-stream factory tour. Leveraging the credibility of an authoritative media platform, the campaign achieved broad product quality and highlighted the strength of China’s advanced manufacturing capabilities to a global audience. audience reach, generating over one million views on People’s Daily Online and tens of millions of impressions across digital platforms. Brand Awards Taobao & Tmall Merchant Service Conference (2025) WANPY was listed among Douyin E-commerce (2025) Five-Star Store Award, Premium Service Pioneer Award the Forbes China Valuable Brands in the pet industry. Pet Industry Growth Pioneer Award Management), ISO 22000 (Food Safety Management), ISO 14001 (Environmental Management), HACCP (Hazard Analysis and Critical Control Points), GMP (Good Manufacturing Practice), and BRCGS Global Standard for Food Safety, among others. In total, the Company has passed 20 major global certifications, along with official registrations in several developed markets, including the United States, Japan, Canada, Australia, and the European Union. As one of the most comprehensively certified pet food companies in China, these credentials reflect a high level of confidence in the Company’s quality management systems and product CNIF and CLF Signing Ceremony with Professor Li Lian’s Research Team Group photo of representatives from both sides In March 2025, the Company entered into strategic partnerships with China National In February 2025, Toptrees? entered into a strategic partnership with Professor In February 2026, representatives including Mao Shengyong, Dean, and Sang Research Institute of Food and Fermentation Industries (CNIF) and China Leather Li Lian and her research team at Nanjing Agricultural University to advance Yukun, Party Secretary, of the College of Animal Science and Technology at Nanjing and Footwear Research Institute (CLF). The collaboration focuses on the innovative applied research in foundational pet nutrition. The Company also collaborated Agricultural University, together with their expert team, as well as Haakon Brokke, application of core technologies - such as functional peptides and collagen - in the with Baolai-Leelai Bio to establish a joint research center focused on pet gut APAC Sales Director of Epax?, and Kévin Ransbotyn, General Manager of Alliance pet food sector. Together, the partners aim to drive scientific innovation and industrial microbiome health and functional pet food development. In addition, Toptrees? Nutrition Group, visited the Company’s headquarters for exchanges and discussions. upgrading, while jointly exploring a new integrated model of technology, industry, and has developed a five-pillar product assurance framework covering formulation social responsibility in China’s pet food industry. design, raw material traceability, manufacturing processes, quality control and nutritional science, ensuring product safety and scientific integrity.6·Strategy in Action: A Clear Roadmap for Growth Corporate AccreditationsFive-Year Strategic Plan: Based on macroeconomic trends, industry development dynamics and the Company’s own growth stage, the Company formulated a clear new five-year strategic plan in 2023. The strategy centers on strengthening proprietary Material Topic Management and Assessment During the reporting period, China Pet Foods carried out a systematic assessment of ESG material China Pet Foods actively supports the United Nations Sustainable Development topics to identify the issues most relevant to the Company’s operations and stakeholders. The aim Goals (SDGs) and has embedded sustainability into its corporate strategy. was to provide a sound basis for the development of ESG plans and corresponding actions. To ensure comprehensive coverage and well-grounded prioritization, the Company followed a structured process The Company has set clear internal targets and detailed action plans to that included: advance ESG practices across all levels of its operations. With a strong sense of 1. Reference to Authoritative Standards and Guidelines: environmental responsibility, a firm commitment to social accountability, and a China Pet Foods initially screened ESG topics with reference to a range of domestic and international focus on improving governance, China Pet Foods continues to contribute to the standards, including the Guidelines on Corporate Social Responsibility Reporting for Chinese Enterprises global sustainability agenda - demonstrating both determination and practical (CASS-CSR 4.0), the General Framework for Corporate Sustainability Reporting (CASS-ESG 6.0), the action in response to this worldwide call. Global Reporting Initiative’s Sustainability Reporting Standards (GRI Standards), China’s national standard Guidance on Social Responsibility Reporting (GB/T 36001-2015), and the SDG Compass: Guide ESG Governance Structure for Business Action. These frameworks helped ensure alignment with international best practices and China Pet Foods is committed to establish an efficient and integrated ESG governance 2. In-depth Stakeholder Engagement: structure that extends from the board of directors to functional departments and individual China Pet Foods collected feedback on ESG topics from key stakeholders - including customers, employees. The Board Strategy Committee serves as the central body for ESG oversight employees, shareholders, suppliers, government agencies, and the general public - through a variety and is responsible for providing strategic guidance and ensuring that ESG principles are of channels such as surveys, written responses, conference calls, and interviews. Combined with input embedded in top-level decision-making. from the Board Strategy Committee, this process provided a multidimensional view of stakeholder To support implementation, the Company has formed a dedicated ESG working group tasked 3. Industry Trends and Internal Risk Assessment: with preparing and releasing the annual ESG report, evaluating performance, identifying The Company benchmarked ESG practices against domestic and international peers and examined risks and opportunities, and developing improvement plans. The group promotes effective developments in sectors such as IoT and semiconductors. These insights, together with internal execution through cross-departmental coordination. operational and strategic considerations, informed the evaluation of ESG-related risks and opportunities and helped identify topics critical to mid-to-long-term business development.Department managers communicate the directive of the Strategy Committee and ESG working group to all employees, ensuring that sustainability goals - such as energy 4. Materiality Assessment and Prioritization: conservation and emissions reduction - are reflected in daily work. Employees regularly A materiality matrix was used to assess ESG topics based on two dimensions: their impact on business log relevant data and report it to their supervisors. These records not only underpin ESG development and their importance to stakeholders. The results were reviewed by the ESG working group disclosures but also support review and continuous improvement of the Company’s ESG before being submitted to the Board Strategy Committee for validation and final prioritization.efforts. Communication and Key Concerns Our Responses Stakeholders Response Channels ESG Governance Structure and Functions
Since its establishment, the Company has developed and implemented a comprehensive corporate governance framework in accordance with applicable laws and regulations, including the Company Law, the Securities Law and the Code of Corporate Governance for Listed Companies. It has adopted a series of internal policies, including the Rules of Procedure for Shareholders’ Meetings, the Rules of Procedure for the Board of Directors, the Independent Directors’ Working System, the Chief Executive Officer’s Working Guidelines, the Board Secretary’s Working Guidelines, and the terms of reference for the Board’s specialized committees. Through these measures, the Company has established a corporate governance structure in line with regulatory requirements for listed companies, forming a management system characterized by coordination and checks and balances among its governing bodies, decision-making bodies, supervisory bodies and executive management. The shareholders’ meeting, the Board of Directors and the management team operate independently and in compliance with applicable laws and regulations, fulfilling their respective rights, obligations and responsibilities, and effectively safeguarding shareholders’ interests. In accordance with applicable laws and regulations, including the Company Law and the Securities Law, the Company All Directors of the Company perform their duties in accordance with applicable laws and regulations, including the Guidelines No. 1 of Shenzhen Stock Exchange for Standardized Operation of Main Board Listed Companies, as well as the Company’s internal policies such as the Rules of Procedure for the Board of Directors and the Independent Directors’ Working System. Directors attend Board and shareholders’ meetings as required, actively participate in training programs, and continuously enhance their understanding of relevant laws and regulations, fulfilling their responsibilities with integrity, diligence and due care. During the reporting period, the Company convened a total of nine Board meetings, at which 39 resolutions were reviewed and approved. Matters considered included periodic reports, revisions to certain governance policies, profit distribution and decisions regarding not to redeem outstanding convertible bonds. All Directors maintained a 100% attendance rate at Board meetings. Active Investor Engagement Active Investor Engagement submitted via the SZSE Investor To ensure the clear transmission, consolidation, and effective management of material matters, and to support timely, Relations Interactive Platform ( 互 truthful, accurate, and complete disclosure, while safeguarding the legitimate rights and interests of the Company 动易 ). and its investors - China Pet Foods has implemented a Material Matters Reporting Policy. The policy defines the scope of reporting personnel, procedures, and reportable items, covering areas such as related-party transactions, outbound investments, management of raised funds, guarantees, and material risk events. In the past, the complexity and cross-functional nature of these matters often led to delays or inconsistencies in communication, affecting the timeliness and accuracy of disclosures. The introduction of this policy has resolved key challenges by establishing a clear reporting process for material matters, leading to more timely disclosures. It has also helped standardize business procedures across departments. In addition, the Company has designated China Securities Journal and Securities Times as its official disclosure outlets, and proactively and timely discloses all information that may have a material impact on shareholders and other stakeholders, ensuring that all shareholders have equal access to information. In 2025, the Company published a total of 146 disclosures through authorized channels such as CNINFO, including 142 ad hoc announcements and four periodic reports.4·Standardized Internal Control Framework 5·Fulfilling Tax Obligations with Responsibility In the course of its daily operations, the Company is exposed to a dynamic business environment and various uncertainties. To mitigate the risk of occupational fraud - whether from internal personnel or external partners - and to safeguard the interests of the The Company recognizes the vital role of tax compliance in supporting national governance and social progress. Company and its shareholders, the Company formally joined the China Enterprise Anti-Fraud Alliance in February 2022 and became Guided by the Enterprise Income Tax Law of the People’s Republic of China, the Company has put in place a a member of its Working Committee. The Alliance is a non-profit organization committed to fostering a clean business environment through platform collaboration, resource integration, and data sharing. It helps establish workplace misconduct records and dedicated Tax Management Policy. In day-to-day operations, it maintains strict oversight over tax-related processes enhances its members’ anti-fraud capabilities. Founding members include industry leaders such as Alibaba, Country Garden, Midea, - from invoice control to account reconciliation - ensuring every step is handled with rigor and consistency. At the SF Express, and Vanke. same time, the Company continues to refine its tax planning framework, balancing short-term arrangements and long-term strategic considerations to optimize tax management comprehensively. Today, the Alliance comprises more than 950 member companies, over half of which are A-share listed firms. It offers services such as resource pooling, blacklist sharing and support for cross-regional fraud investigations. Joining the Alliance marks an important The Company remains alert to potential risks and has established a sound system for monitoring and managing tax- step in China Pet Foods’ ongoing efforts to strengthen risk management, improve fraud prevention mechanisms, and protect the legitimate rights and interests of the Company and its shareholders. As a leading enterprise in China’s pet food industry, the related matters, ensuring its operations remain stable and compliant. Committed to fulfilling its tax obligations in full Company is committed not only to business excellence but also to fostering a clean, honest, and transparent operating environment. and on time, China Pet Foods provides solid support for the stable growth of national fiscal revenues - contributing Through cross-industry collaboration and knowledge-sharing, the Company aims to fulfill its broader social responsibilities while to public investment in infrastructure, social welfare, and technological innovation. Through concrete actions, supporting healthy and rapid growth. the Company brings its corporate responsibility to life, helping to drive high-quality economic growth and social harmony, while underscoring its value as a corporate citizen in advancing national strategies and serving the broader In 2025, the Company continued to make steady progress towards its carbon neutrality goals, driving long-term value creation through The Company consistently upholds the principles of green development and actively fulfils its environmental responsible practices. responsibilities. It strictly complies with national environmental laws and regulations, integrates environmental The Company strictly complies with applicable environmental laws and regulations, including the Environmental China Pet Foods Intelligent Energy Management Platform Protection Law of the People’s Republic of China, the Environmental Impact Assessment Law of the People’s Republic of China, and the Water Pollution Prevention and Control Law of the People’s Republic of China. It has established a comprehensive environmental management system and successfully obtained ISO 14001 certification. Environmental requirements are integrated throughout the entire production and operational process, ensuring standardized and End-to-End Wastewater Management systematic environmental management at the institutional level. The Company continuously improves resource In 2025, the Company continued to make steady progress towards its carbon neutrality goals, driving long-term value creation through The Company consistently upholds the principles of green development and actively fulfils its environmental responsible practices. responsibilities. It strictly complies with national environmental laws and regulations, integrates environmental The Company strictly complies with applicable environmental laws and regulations, including the Environmental China Pet Foods Intelligent Energy Management Platform Protection Law of the People’s Republic of China, the Environmental Impact Assessment Law of the People’s Republic of China, and the Water Pollution Prevention and Control Law of the People’s Republic of China. It has established a comprehensive environmental management system and successfully obtained ISO 14001 certification. Environmental requirements are integrated throughout the entire production and operational process, ensuring standardized and End-to-End Wastewater Management systematic environmental management at the institutional level. The Company continuously improves resource advanced AOAO process. After treatment, effluent meets the applicable standards under the Discharge Standard of The Company places strong emphasis on environmental compliance in new project development. All new projects are Wastewater into Municipal Sewers (GB/T 31962-2015, Table 1A) before being discharged into the municipal sewer subject to environmental impact assessments in strict accordance with applicable laws and regulations, including the network for further treatment at downstream facilities. Environmental Impact Assessment Law of the People’s Republic of China and the Regulations on the Administration of Environmental Protection for Construction Projects. In 2025, all four newly constructed projects successfully The Company has established standardized sampling points at wastewater discharge outlets and installed online obtained the required environmental approvals from the relevant authorities. During project development, the monitoring systems for key indicators, including COD, ammonia nitrogen, total phosphorus, total nitrogen, pH and Company adopts environmentally friendly equipment with low energy consumption and high treatment efficiency flow rate. All monitoring equipment is connected to the relevant environmental authorities, enabling real-time to minimize environmental impact at source. At the same time, it strictly complies with the Regulations on the data transmission. In addition, the Company regularly engages qualified third-party institutions to conduct data Administration of Pollutant Discharge Permits and has established a full-process control mechanism for pollutant verification and calibration of the online monitoring systems, ensuring the accuracy and reliability of monitoring data. emissions. This ensures that both emission concentrations and total discharge volumes meet regulatory requirements, These measures enable precise monitoring of wastewater treatment performance and support the protection of the enabling standardized and refined management of pollutant emissions. aquatic environment.Advancing Clean Energy Initiatives to Support Dual Carbon Goals2· Multi-Dimensional Air Emissions Advancing Clean Energy Initiatives to Support Dual Carbon Goals2· Multi-Dimensional Air Emissions recovery and safe disposal. It has developed comprehensive policies and procedures for the prevention and control of solid waste pollution, and promotes green procurement of raw materials to minimize waste generation at source. 3·Green Materials and Packaging Transformation General industrial solid waste and hazardous waste generated during production are handled and disposed of by qualified third-party service providers in compliance with applicable regulations. This ensures a “cradle-to-grave” full The Company upholds its commitment to environmental responsibility in raw material selection and actively Diverse Environmental Awareness Diverse Environmental Awareness raising awareness of the origins and significance of World Environment Day, sharing environmental To strengthen the foundation of its environmental management and fulfil its responsibilities for environmental The disclosure of environmental information in accordance with regulatory requirements is an important means of protection, the Company has established a regular environmental training program. It organizes periodic training subjecting the Company to public oversight and improving environmental management. In line with the Measures for sessions covering key topics such as environmental laws and regulations, identification and mitigation of the Administration of Legal Disclosure of Environmental Information by Enterprises issued by the Ministry of Ecology environmental risks, and the processes and standards for the treatment of air emissions, wastewater and solid and Environment, the Company has established a standardized environmental information disclosure mechanism. waste. Through systematic training, the Company enhances employees’ environmental knowledge and sense of It publishes key environmental information on its official website on an annual basis, including corporate profile, responsibility, strengthening its internal capabilities for sustainable development and embedding environmental environmental management systems, pollutant generation, treatment and emissions, as well as environmental principles across all functions and operational processes. emergency management. These disclosures ensure the accuracy, timeliness and transparency of environmental Environmental Protection Labor Rights 1.Carbon Emissions and Climate Action Fair Compensation and Working Hours: American Pollutant Emission Control: The Company Jerky ensures that all employees receive fair maintains strict control over pollutant emissions Carbon Neutrality Goals: In response to climate change, American Jerky has set clear targets compensation and work reasonable hours, in full and discharges across all stages of production, for carbon neutrality. The facility is constructed using high-performance insulation materials compliance with international labor standards. The ensuring that all discharge levels remain well below to minimize thermal exchange and energy loss. Rooftop solar panels generate clean energy, Company strictly prohibits child labor and forced labor. regulatory limits and minimizing the impact on the 1·U.S. Facility significantly reducing carbon emissions. The facility also conducts regular energy audits and Protection of Employee Rights: The Company surrounding ecosystem. continuously improves energy efficiency, aiming to lower its carbon footprint through ongoing prioritizes employee welfare and provides a safe, Commitment to Green Development: Guided by conservation efforts. supportive working environment. A robust labor policy a philosophy of green production, we continuously Green Production Facility: The plant has invested in energy-efficient machinery and optimized As a leading producer of pet treats, American Jerky takes its social responsibility framework and comprehensive training system are in refine our environmental practices to reduce the its manufacturing processes to reduce energy consumption. Partial reliance on renewable place to ensure employees' rights are respected and seriously and remains firmly committed to environmental compliance and sustainable Company’s ecological footprint and promote energy supports the goal of building a low-impact, environmentally responsible production upheld. greener operations. development. Through a range of innovations and best practices, it works to reduce the base. environmental footprint of its operations and contribute to the green transformation of Business Ethics Health and Safety the industry. and Transparency 2.Waste Management and Resource Recovery Anti-Corruption Policy: We have established Safe Working Environment: The Company is Waste Sorting and Recycling: The facility enforces a strict waste classification policy. All a comprehensive anti-corruption framework to committed to providing employees with a clean, safe, production waste is sorted and recycled by category to maximize resource utilization. ensure transparency in all business dealings, and well-equipped working environment. Modern Recyclable Packaging Materials: Packaging is designed with efficiency in mind - minimizing upholding principles of fairness, integrity, and protective equipment is in place, and employees receive unnecessary materials, using environmentally friendly and recyclable options. American Jerky regulatory compliance. regular training on health and safety practices to ensure encourages suppliers to adopt recycled content, actively reducing single-use packaging across Supply Chain Transparency: We are committed to they are prepared to manage potential risks. the supply chain. maintaining transparency across our supply chain. Health Monitoring and Protection: In addition to Circular Economy in Practice: By partnering with recycling firms, American Jerky ensures that Regular supplier assessments are conducted to routine safety measures, the Company conducts regular all recoverable materials are effectively recycled and reused, reducing dependence on natural ensure alignment with sustainability standards and occupational health checks to safeguard employee resources. to promote best practices within the industry. well-being and promote long-term health. Green Supply Chain and Raw Material Safety & Sustainability 3.Water Resource Management 1. Raw Material Procurement Standards Efficient Water Use: American Jerky continues to improve water efficiency by optimizing Strict Supplier Screening and Certification: All suppliers must meet both international and national food safety production schedules and adopting high-efficiency, low-consumption cleaning equipment. For standards, with particular attention to the specific requirements of pet food safety. We work exclusively with landscaping, the facility uses drip irrigation systems to minimize unnecessary water use. certified partners to ensure that all raw materials are clean, additive-free, and safe for animal health. Wastewater Treatment and Water Resource Protection: The plant is equipped with advanced Sustainable Sourcing Policy: The facility gives priority to sourcing raw materials from farms and production sites wastewater treatment facilities that ensure all discharged water meets or exceeds the standards that meet environmental standards, align with sustainable development requirements, and are certified under set by the U.S. Environmental Protection Agency (EPA) and applicable state regulations. These the Marine Stewardship Council (MSC) sustainable fisheries program. measures help prevent contamination of surface and groundwater, in full compliance with strict 2.Raw Material Traceability System environmental laws. End-to-End Traceability: All raw materials are fully traceable through a dedicated tracking system that records Wastewater Monitoring: Regular monitoring is conducted to assess wastewater quality. each batch from procurement and transport to final use. This ensures transparency of origin and full compliance Discharge metrics are compared against California and other state-level environmental with sourcing standards. In the event of any quality concerns, the system allows for rapid tracing back to the standards, with operational adjustments made as needed to prevent environmental risk and source - minimizing potential food safety risks.2·Canada Facility Through a structured approach across four key areas, the Canada facility transforms regulatory compliance into a source of competitive advantage, creating a multidimensional brand value centered on safety, ethics, natural ingredients and low-carbon operations. This provides strong support for the Company’s sustainability positioning in Food Safety and Quality Employee Welfare and Wellbeing（未完）  |