2025 Environmental, Social and Corporate Governance(ESG ) Report

Zhejiang Weiming Environment Protection Co., Ltd.

Contents

04 About This Report 06 Chairman's Statement 08 About Weiming Environment Protection 09 2025 Sustainability Performance 10 2025 Highlights

104 Appendix : Sustainability Reporting Guidelines Alignment Index 108 Appendix : Key Performance Indicators (KPI) 116 Assurance Statement 118 Feedback Form

01

Advancing Sustainability Management

14 Board of Directors Statement 17 Stakeholder Engagement 18 Materiality Assessment and Management

02

Strengthening Corporate Governance

24 Corporate Governance ★ 28 Internal Control and Risk Management ★ 32 Business Ethics and Anti-Corruption ★

03

Environmental Stewardship Leading the Green and Low-Carbon Transition

38 Environmental Compliance Management ★ 38 Energy Utilisation ★ 41 Climate Change Response ★ 49 Treatment of Three Wastes 50 Pollutant Emissions ★ 53 Water Resource Utilisation 55 Circular Economy 56 Biodiversity

04

Collaboration and Co-creation: Achieving Shared Industry Success

60 Product Quality and Safety ★ 62 Customer Service Management ★ 66 Innovation-Driven Development ★ 71 Intellectual Property Protection 72 Responsible Marketing 73 Data Security and Customer Privacy Protection 75 Supply Chain Security

05

Creating Value and Contributing to Society

80 Rural Revitalisation 81 Social Contribution

06

People First: Building a Fulfilling Workplace

86 Employment and Diversity 88 Employee Rights and Benefits ★ 94 Talent Development ★ 100 Occupational Health and Safety ★

Report Preparation Instructions

Scope of the Report

This Report takes Zhejiang Weiming Environment Protection Co., Ltd. as the reporting entity and covers its branches and subsidiaries. Unless otherwise specified, the scope of this Report is consistent with that of the Company's annual report.

Time Period

The time period covered by this Report is from 1 January 2025 to 31 December 2025 (hereinafter the "Reporting Period"). To enhance the timeliness, comparability, and completeness of the Report, certain content appropriately references prior years or contains forward-looking statements.

Definitions

For ease of expression and readability, references in this Report to "Weiming Environment Protection" "the Company" "this Company" or "we" all refer to Zhejiang Weiming Environment Protection Co., Ltd.

Reference Standards

The Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 14 – Sustainability Reporting (Trial) , SSE Self-Regulatory Guidelines for Listed Companies No. 4 – Sustainability Report Preparation (Revised January 2026) Enterprise Sustainability Disclosure Standards – Basic Standards (Trial), issued by the Ministry of Finance of China

• Global Reporting Initiative (GRI) Sustainability Reporting Standards (2021 Edition)

United Nations Sustainable Development Goals (SDGs)

IFRS S1 and IFRS S2 issued by the International Sustainability Standards Board (ISSB)

• The Ten Principles of the United Nations Global Compact

Report Overview

This Report is the 4th Environmental, Social and Governance (ESG) Report published by Weiming Environment Protection. It discloses to investors and other stakeholders the Company's principles, management approaches, initiatives, and outcomes with respect to ESG topics in the course of its business operations.

Notes on Data Sources

Data sources used in this Report include the Company's primary operational data, publicly available government data, annual financial data, internal statistical reports, third-party questionnaire surveys, and third-party evaluation interviews. Financial data in this Report is denominated in Renminbi (RMB). Where any inconsistency exists between this Report and the financial reports, the financial reports shall prevail.

Principles of Report Preparation

Sustainability Context: The Company, considering the characteristics of its scope and business operations, identifies the material ESG topics from the perspective of double materiality. The analysis process and results of these topics can be found in the "Assessment and Management of Material Topics" section of this report.

Timeliness: This annual report is released concurrently with Weiming's 2025 Annual Report, offering stakeholders timely information to support decision-making.

• Accuracy: This report ensures information accuracy, with quantitative data calculated using recognized standards and sources duly cited. The Board of Directors assures no false records, misrepresentations or material omissions.

• Balance: The report presents objective and truthful facts, disclosing both positive and negative information related to the Company in an unbiased manner.

• Completeness: The scope of disclosure is consistent with that of the Company's consolidated financia statements.

• Comparability: The report maintains consistency in the statistical and disclosure methods of quantitative indicators across diferent reporting periods.

• Verifiability: All the sources and computation processes of quantitative data disclosed in this report are traceable and can be used for external verification.

• Clarity: This report is published in Simplified Chinese and English, with the Simplified Chinese version prevailing. Supplementary tables, diagrams, an ESG standards index, and a glossary are provided fo reference.

• Quantifiability: The report discloses key quantitative indicators and, where possible, provides comparable historical data. For details, refer to the appendix "2025 Key Performance Indicators (KPI) Table "

Availability and Access

The electronic version of this Report may be viewed and downloaded at the Shanghai Stock Exchange (http:// www.sse.com.cn), CNINFO (http://www.cninfo.com.cn) or the Zhejiang Weiming Environment Protection Co., Ltd. oficial website (https://www.cnweiming.com).

Contact Information

Mailing Address: 16/F, Tongren Hengjiu Tower, No. 525 Shifu Road, Wenzhou, Zhejiang Province

Telephone: 0086-0577-86056018

Fax: 0086-0577-86051888

Email: ir@cnweiming.com

Oficial Website: https://www.cnweiming.com

Chairman's Statement

Acknowledgement: To All Who Have Supported Weiming's Green Journey

On behalf of the Board of Directors and all employees of Zhejiang Weiming Environment Protection Co., Ltd., I extend my sincerest gratitude to all those who have long supported the Company's development.

As one year gives way to the next, we press forward with sustained focus. Looking back on 2025, the people of Weiming advanced steadily on the path of green development. This year also marked a milestone: the tenth anniversary of Weiming Environment Protection's listing — ten years since 2015, ten years on the capital markets, and a lifelong commitment to environmental protection. As we enter 2026, we will continue to raise our standards and expand our ambitions, moving forward together to open the next green decade.

Xiang Guangming Chairman of the Board Zhejiang Weiming Environment Protection Co., Ltd. April 2026

(I) Environmental Dimension: Sustained Development, from China to the World Stage

When the final data for 2025 were tallied, what I saw was not merely a scorecard, but the testament of a team that has held fast to its green commitments. Ten years ago, we entered the capital markets with the founding aspiration of making the environment better. Over the decade that followed, we honoured our commitments to our shareholders, to society, and to the times — with 26 million tonnes of carbon emission reductions, 25.8 billion kWh of green power generated, and 56 clean facilities in operation.

In 2025, we demonstrated that environmental protection and economic performance can advance in concert, and that Weiming, strengthened over ten years, can go further and stand firmer.

In waste-to-energy, the Fujin, Longnan, and Zhijiang projects began formal operations, while the Kunshan project entered trial operation with two furnaces and two generators. The Company and subsidiaries generated 4.623 billion kWh cumulatively, cutting CO emissions by approximately 4.61 million tonnes versus coal-fired power.

I am particularly proud of three innovations: the Linjiang Project's mobile steam supply, delivering steam 30 km to industrial users—our first such project in Zhejiang, supplying nearly 20,000 tonnes annually; the Yongqiang Project's slag utilization line, turning waste into resource; and the Dongyang Project's ultra-low emission transformation, setting new standards. These reflect a decade of technological buildup.

Green certificate sales surpassed 730,000 units, generating approximately RMB 2.8 million. This diversifies revenue and demonstrates clean energy value. Every certificate issued for projects from Kunshan to Shuangyashan and Longnan to Luodian quantifies environmental benefits. Over the decade, we have evolved from a waste disposer into a clean energy supplier and carbon asset operator.

At the close of 2025, the Company was included in PT Danantara Investment Management's approved supplier list for environmentally friendly WtE projects, supporting future expansion in Indonesia and marking Weiming's shift from a domestic focus to a global presence.

(II) Social Dimension: A People-First Approach to Shared Development

I have always believed that the highest purpose of an enterprise is to develop the full potential of its people. Over the ten years since listing, we have built a business — and built people.

In 2025, the Company invested RMB 5.25 million in charitable activities and rural revitalisation programmes, having pursued poverty alleviation and rural revitalisation for decades. Long before its listing, social responsibility had already been embedded in the Company's culture and values.

In talent development, the "Top 100 Talent Program" continued to attract graduates from China's leading universities, with the proportion of employees holding master's degrees or above rising steadily. Three large-scale training programmes were conducted during the year, and the retention rate for key positions remained at the forefront of the industry. The second tranche of the 2023 restricted share incentive plan was un locked, enabling 158 core employees to share 3.084 million shares — not a simple incentive, but the institutionalisation of co-creation, shared responsibility and shared benefits.

In Indonesia, the Company is not only exporting environmental pro tection equipment and technology, but also constructing and op erating a nickel metal smelting project locally, creating substantial employment opportunities and enabling the tangible benefits of Weiming's development to reach overseas communities — demon strating our commitment to the Belt and Road Initiative (BRI).

(III) Governance Dimension: Transparency and Eficiency as the Foundation of Trust

Good governance means earning the full confidence of all stake holders. The most enduring lesson of our ten years as a listed company is this: the trust of the capital market is the most valuable asset an enterprise can hold.

The Company has further developed the three-tier architecture comprising the Strategy and ESG Committee of the Board of Direc tors, the Committee Ofice, and the Business Working Groups, con vening multiple ESG-focused meetings throughout the year. The Company completed the integrated project information system platform, achieving integration with the OA and financial systems, and explored the deployment of enterprise AI models. Over the past ten years, the Company has maintained a clean record with zero regulatory penalties in respect of information disclosure.

On the research and development front, the AI-powered crane ro bot developed by the Equipment Group completed commissioning for fully automated operation and is expected to reduce manual operations by more than 50%. The "Black Box"monitoring system now covers nearly 20 power generation facilities in Zhejiang Province. The 750 t/d grate-type incinerator was selected as a Zhejiang Province first-of-its-kind equipment. The Equipment Group was recognised as a "Specialized, Sophisticated, Distinctive and Novel" (SSDN) "Little Giant" enterprise by the Ministry of Industry and Information Technology.

In 2025, Weiming Shengqing obtained National High-Tech Enterprise certification, secured three major international system certifications, and signed a three-year cooperation agreement with Guangdong Brunp Recycling Technology Co., Ltd. The two produc tion lines of the Indonesia Jiaman Matte Nickel Project were commissioned, and the Company was honoured to receive an audience with Indonesian President Prabowo Subianto.

Gratitude: Our Partners in Sustainable Development

This year's results belong, in equal measure, to each of you.

I thank our shareholders, whose capital support has enabled us to weather cycles and invest in research and development. I thank our partners for joining Weiming Environment Protection in building a green ecosystem together. I thank every member of the Weiming team: the frontline workers who stafed project sites over the Spring Festival; the Indonesia-based team that achieved the on-site imple mentation of oxygen-enriched side-blown smelting technology; the technical staf who completed the ULE retrofitting works; and the engineers who commissioned the AI-powered crane robots. I am also moved by the environmental volunteer teams, the investors who ofered constructive feedback, and the candid assessments from ESG rating agencies. Genuine sustainability is not the sole pursuit of any single enterprise, but a collective endeavour to which all stakeholders contribute.

Outlook: Priorities and Commitments for 2026

From this new starting point, Weiming Environment Protection will focus on three directions

Intensifying Green Emission Reduction Eforts: The Company will expand photovoltaic (PV) coverage across production bases, continue to advance ULE retrofitting, and reduce operational energy consumption, aiming for further reductions in carbon emission in tensity. The Company will also deepen revenue-generating models such as REC sales and steam supply, making green benefits measurable, tradeable, and sustainable.

Deepening Social Responsibility: The Company will implement the employee partnership programme at project companies; deepen the BRI footprint by delivering more overseas environmental gov ernance projects; and continue investing in the"Top 100 Talent Program"to build a high-calibre talent pipeline.

Optimising the Governance Framework: The Company will establish an ESG digital management platform for full-chain carbon footprint tracking, integrate biodiversity protection into investment decision-making, and advance the in-depth application of AI models in corporate management and operations.

When news of the Indonesia Jiaman project's commissioning crossed the equator; when letters of thanks from students arrived from remote communities; when investors say "choosing Weiming is choosing the future" — I am more convinced than ever that the green and low-carbon cause is both a bridge to shared human wellbeing, and central to Weiming's purpose.

Ten years on the capital markets, a lifelong commitment to envi ronmental protection. In 2026, let us continue this journey together — advancing on the path of green development with greater con viction and depth, committed to building an enduring foundation for the future.

About Weiming Environment Protection

Zhejiang Weiming Environment Protection Co., Ltd.:

Protecting the Environment and Advancing Smart Manufacturing for a Green Future

Zhejiang Weiming Environment Protection Co., Ltd. is one of China's leading low-carbon environmental services providers. The Company was listed on the Shanghai Stock Exchange (SSE) in 2015 and has since been included as a constituent of the SSE 380 Index and as a stock eligible under the Shanghai-Hong Kong Stock Connect programme. It has also been included in the MSCI China A-Share Index, the S&P Dow Jones Indices A-Share List, and the FTSE Russell A-Share List. The Company's principa business activities encompass environmental governance, equipment manufacturing, R&D, and manufacture of new energy materials, forming a three-segment business structure in which the Environmental Governance, Equipment Manufacturing, and New Energy Materials segments operate in a coordinated and mutually reinforcing manner.

The Environmental Governance segment, managed by the Environment Protection Group, centers on WTE incineration for power generation across 17 provinces in China, covering the full industry chain of investment, construction, and operation o waste treatment facilities, alongside co-treatment services for food waste, sludge, and agricultural and forestry waste, as well as waste collection, transportation, and leachate treatment. The Equipment Manufacturing segment, managed by the Equipment Group, conducts R&D and manufacture of environmental protection and new energy equipment, providing comprehensive equipment contracting and EPC services through independently developed core complete waste treatment equipment and nickel metal processing equipment.

The New Energy Materials segment, managed by the New Energy Group, focuses on ternary cathode battery materials, including matte nickel, electrolytic nickel, battery precursor materials, and ternary cathode materials. The Company is constructing a 130,000-tonne matte nickel project in Indonesia and a 200,000-tonne lithium battery new materials project in China, establishing an integrated operating system that links upstream and downstream activities and creates synergies with the other two segments to form a dual-engine development model of "environmental protection + new energy." Moving forward, the Company will continue consolidating its environmental protection projects, high-end equipment manufacturing, and new energy materials business to become an internationally advanced and domestically leading comprehensive low-carbon environmenta services provider.

Corporate Mission

To create a clean, healthy and sustainable living

environment for humanity.

Corporate Vision

To continuously provide society with first-class low-carbon environmental technologies, products and services.

Corporate Values

Integrity: To maintain integrity at all times with clients, superiors and colleagues. Honesty and trustworthiness are the foundation of conduct. Dedication:To commit wholeheartedly to one's work, sustain that commitment over time, and grow into an expert in one's field. Innovation:To continually generate new ideas, continuously improve work processes, and uphold innovation as fundamental to ongoing development.

Advancement:To face and overcome dificulties with a positive and optimistic attitude, act in solidarity, and support one another.

2025 Sustainability Performance

2025 ESG Honours and Recognition of Weiming Environment Protection

International Recognition and Honours

ESG Rating Progress

2025 Highlights

Performance

• Revenue: RMB 6.24 billion

• Net profit attributable to shareholders of the listed company: RMB 2.21 billion

• Basic earnings per share: RMB 1.31 per share

Annual Performance Highlights

• Total assets: RMB 30.17 billion

Environmental Governance Business:

• R&D expenditure: RMB 130 million

Operational Performance

1. Waste-to-Energy Incineration

• Equipment Manufacturing Business

New projects commissioned: The Fujin Project, Longnan Project and Zhijiang Project commenced formal operations.

2. Food Waste Treatment

Operational scale: As at the end of the Reporting Period, the Company held investment and controlling interests in 56 projects (including 1 under trial operation).

New projects: Longnan Food Waste Project commenced formal operations, while Yongqiang Kitchen Waste Project and Kunshan Kitchen Waste Project entered trial operation.

New Energy Materials Business

Operational scale: As at the end of the Reporting Period, the Company held investment and controlling interests in 22 projects (including 2 under trial operation).

Order status: The total value of new orders for environmental protection and new materials equipment during the year was approximately RMB 4.6 billion.

Product R&D: Newly developed products included autoclave agitators, double-kettle jig machines, grinding mills, diaphragm pump check valves, crane robots, intelligent combustion control systems and the "Black Box" monitoring system.

The Indonesia Jiaman Company's 40,000 metal-tonne-per-annum nickel matte project is progressing well. Phase I, comprising a 20,000-tonne-per-annum production line, is steadily ramping up capacity, generating operating revenue of RMB 529 million during the year. Weiming Shengqing Company's Wenzhou lithium battery new materials project has achieved positive progress. For electrolytic nickel, the Phase I 25,000-tonne production line has attained stable production, while the Phase II 25,000-tonne line is in the commissioning stage. For ternary precursor materials, the Phase I 25,000-tonne line has produced qualified tonne-scale trial batches, and the Phase II 25,000-tonne line has entered the commissioning stage.

Environmental Performance

Green power supply: Approximately4.62 billion kWh, substituting for fossil fuel-based power generation and contributing to the decarbonization of the electricity grid.

Greenhouse gas emission reductions: Approximately 4.61 million tonnes of CO e in greenhouse gas emissions avoided.

Waste treatment: Household waste received totalled 13.45 million tonnes.

Wastewater treatment: Wastewater treated totalled 18.09 million tonnes.

Social Performance

Total number of employees: 4,256

• Proportion of female directors: 18.18%

• Total employee training hours: 81,131 hours

• Employee satisfaction rate: 96%

• Investment in social welfare and rural revitalization:5.25 million RMB

01

Advancing Sustainability Management

Board of Directors Statement

Stakeholder Engagement

Materiality Assessment and Management

Board of Directors Statement

The Board of Directors and all directors solemnly declare that the content of this Report is true, accurate, and complete, and contains no false records, misleading statements, or material omissions. The Board of Directors further makes the following statement regarding its ESG oversight and management responsibilities:

ESG Management Policy and Strategy

The Board of Directors has integrated ESG governance into the Company's core decision-making framework, establishing a four-tier ESG governance structure comprising "Strategic Decision-Making – Oversight and Evaluation – Systems Managemen – Business Execution", and working in coordination with the Audit Committee, the Remuneration and Appraisal Committee, and other governance oversight bodies to systematically reinforce the foundation for sustainable development

Strategic Decision-Making Tier

The Board of Directors, as the highest responsible body for ESG governance, is responsible for overseeing the overall planning of the Company's sustainability strategy and bears ultimate accountability for ESG performance. The Strategy and ESG Committee of the Board of Directors (the "Strategy and ESG Committee") has been established under the Board, with a focus on medium-to-long-term planning and the review of material issues, providing strategic decisionmaking support to the Board.

Overall Management Tier

The Strategy and ESG Committee serves as the standing executive centre, leading target decomposition, risk management, and full-process oversight and evaluation, and ensuring the efective transmission of the ESG strategy to the operational level.

Business Execution Tier

Through cross-departmental ESG-specific mechanisms, strategic initiatives such as green operations and sustainable supply chain management are implemented at the business level, forming a closed-loop governance model of "strategy – execution – feedback."

ESG Risk Management

During the Reporting Period, the Board of Directors conducted a systematic assessment of the materiality and priority of ESG topics through dedicated interviews, questionnaire surveys, and multi-tier meetings, with particular focus on evaluating core topics that may afect the Company's financial performance, business resilience, and environmental and social value, and formulating strategic recommendations accordingly.

Key ESG risks have been fully integrated into the Company's overall risk management framework. Through dynamic analysis of the probability, degree of impact, and development trends of risks, targeted risk response strategies are formulated

On this basis, the Audit Committee of the Board of Directors continues to strengthen the oversight loop by reviewing risk assessment reports, monitoring compliance reviews, and assessing the effectiveness of control and mitigation measures, ensuring that ESG governance objectives are closely aligned with business practice

ESG Target-Setting and Implementation

With quantitative anchoring of ESG strategic targets at its core, the Company has established a sustainability action framework centred on key dimensions including climate change response, enhancement of resource circularity, protection of employee rights and interests, strengthening of supply chain resilience, and optimisation of governance effectiveness. A dynamic tracking mechanism is employed to regularly review progress towards target achievement.

On the one hand, a data-driven approach is used to identify performance bottlenecks and risk exposures, and iterative improvement plans are developed. On the other hand, ESG risk management is integrated into the full process of operationa decision-making, establishing a preventive control framework encompassing risk identification, assessment, and mitigation.

In parallel, in accordance with international standards such as those of the Task Force on Climate-related Financial Disclosures (TCFD) and the GRI Standards (Global Reporting Initiative Standards), as well as domestic regulatory requirements, the Company has established a standardised ESG information disclosure mechanism. By regularly publishing Environmental, Social and Governance (ESG) reports and providing quantitative benchmarking of performance therein, the Company discloses its strategic priorities and plans, practical outcomes, and value creation rationale to stakeholders in a comprehensive manner, thereby continuously enhancing governance transparency and the credibility of its accountability.

ESG Governance Framework

Strategic Positioning

Weiming Environment Protection continues to advance the systematic development of its ESG framework, using refined management and high-standard information disclosure as key drivers to comprehensively enhance accountability and transparency. The Company has established a coordinated development structure integrating the Environmental Governance, Equipment Manufacturing, and New Energy Materials segments. Through full life-cycle management, the Company continuously optimises resource eficiency, deepens low-carbon technology research and development and the closed loop of clean production, and accelerates its transition towards an international green technology services provider, with the aim o becoming a benchmark enterprise for sustainable development in the industry.

• Governance Framework

The Company has deeply integrated ESG principles into its overall strategic development, establishing a robust and professionally eficient ESG management system alongside a four-tier governance structure of "Strategic Decision-Making – Oversight and Evaluation – Systems Management – Business Execution." Through a clear and transparent framework of rights and responsibilities and comprehensive strategic implementation, the Company is positioned to create long-term sustainable development value.

Composed of representatives from functional departments involved in sustainability-related work. Responsible for coordinating the execution and implementation of ESG-related activities, and for advancing and monitoring the achievement of the Company's targets across business units and functional systems through the sustainability management.

Stakeholder Engagement

Efective engagement with stakeholders is the critical foundation for Weiming Environment Protection's target management and the creation of shared value. The Company is committed to establishing open and diversified communication channels with all stakeholder groups, conveying the Company's latest developments in a timely manner, listening to and understanding stakeholder concerns and expectations, and incorporating feedback into the Company's sustainability strategy and management mechanisms, so as to ensure that the Company's development remains aligned with the interests of all parties

Key Stakeholders	Key Areas of Concern	Primary Engagement Channels	Response Measures
Shareholders and investors	Corporate governanceCompliance risksSustainable operations	General Meeting of ShareholdersResults briefingsInvestor exchange meetingsOfficial websiteSSE e-Interactive Platform Q&A	Establish sound and scientific decision-making and oversight mechanismsStrengthen risk managementEnsure proper information disclosureOrganise and participate in activities tailored to different types of shareholders
Customers	Customer service managementGreen productsProduct safety and qualityCustomer privacy protectionResponsible marketing	Marketing trainingCustomer surveysCustomer satisfaction surveysAfter-sales service system	Provide efficient, reliable and responsive servicesImprove customer management processesDevelop a secure and reliable ecosystem
Employees	Protection of employee rights and interestsEmployee development and trainingEmployee careOccupational health and safety	Employee trainingTrade union and Employee Representative CongressEmployee activitiesOccupational health surveillance	Safeguard employees' legal rights in accordance with applicable lawsActively conduct training programmes of various typesImprove talent advancement and remuneration mechanismsStrengthen occupational health and safety managementImplement diversified employee benefits
Government and regulatory bodies	Compliant operationsPayment of taxes in accordance with law	Information disclosurePolicy implementationInstitutional inspections	Operate in compliance with applicable laws and regulationsPrevent major safety incidentsRaise local employment ratesActively advance industry-based assistance for poverty alleviation and rural revitalization
Social organisations and non-governmental bodies	Rural revitalizationSocial contribution	Employment provisionIndustry-based assistanceVolunteer servicesCharitable activities	Community communication and exchange activitiesPublic open-day activities
Suppliers	Supply chain securityCompliance and risk managementAnti-commercial bribery and anti-corruption	Supplier conferencesSupplier trainingIndustry exchanges	Conduct transparent procurementEliminate commercial bribery
Media and the public	Energy utilisationData security and customer privacy protection	Information disclosureEstablishment of communication mechanisms	Actively communicate through official platforms such as the Company websiteProvide external communications materials

Materiality Assessment and Management

Weiming Environment Protection places great importance on the management of material topics, treating it as the foundation for identifying ESG risks and opportunities and for developing strategic plans. Each year, the Company identifies and updates material ESG topics through questionnaire surveys and on-site interviews, integrates them into operational management, and continuously strengthens related practices. In 2025, the Company conducted a comprehensive analysis of the materiality of ESG topics in accordance with the Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 14 – Sustainability Reporting (Trial) and its accompanying preparation guidelines, and addressed each topic individually in this Report.

Double Materiality Assessment Process

Step 1: Background Analysis and Topic Identification

The Company systematically mapped its business relationship landscape, covering all upstream and downstream segments of the value chain, clarifying the types and nature of those business relationships. In parallel, the Company conducted an in-depth analysis of relevant laws and regulations, regulatory policies, media coverage, and industry peer benchmarking, and comprehensively identified the groups of stakeholders afected.

Step 2: Materiality Assessment of Topics

Step 2-1: Impact Materiality Assessment:

A dual assessment of the degree of impact of each topic is conducted from the perspective of both internal and external stakeholders.

\- Dimension 1: Assessment of Degree of Impact Stakeholder questionnaire surveys are used to score the degree of impact of each topic. The scoring scale comprises six levels: No Impact, Minor Impact, Moderate Impact, Considerable Impact, Significant Impact, and Extreme Impact.

\- Dimension 2: Assessment of Likelihood of Impact Questionnaire sur ve ys are similarly used to assess the likelihood of the impact of each topic occurring. The scoring scale comprises six levels: None, Very Low, Low, Moderate, High, and Very High.

Step 2-2: Financial Materiality Assessment:

A team of internal experts from the Company's finance department assesses the financial materiality of each topic across two dimensions, subject to joint review and confirmation by multiple departments.

\- Dimension 1: Degree of Financial Impact The impact of each topic on the Company' current and projected financial position is assessed on a comprehensive basis and scored. The scoring scale comprises six levels: No Impact, Minor Impact, Moderate Impact, Considerable Impact, Significant Impact, and Extreme Impact.

\- Dimension 2: Likelihood of Financial Impact The probability of positive or negative financial impacts arising from each topic is assessed and scored. The scoring scale similarly comprises six levels: None, Very Low, Low, Moderate, High, and Very High.

Step 3: Assessment Analysis

Step 4

In respect of topics with financial materiality, the Company conducts an in-depth review of stakeholder demands and expectations regarding those topics, comprehensively identifies the impacts, risks, and opportunities associated with each topic, and summarises the findings across the various topics

02

Strengthening Corporate Governance

★ Corporate Governance

★ Internal Control and Risk Management

★ Business Ethics and Anti-Corruption

Corporate Governance

Governance

Weiming Environment Protection strictly complies with domestic and international regulatory requirements, including the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Code of Corporate Governance for Listed Companies, and the Shanghai Stock Exchange Listing Rules. The Company has systematically formulated its Articles of Association and accompanying internal control policies, and continuously improved its corporate governance structure and internal management framework. A "two-meeting, one-tier" governance structure comprising the General Meeting of Shareholders, the Board of Directors, and senior management has been established, with clearly defined boundaries of responsibility and delegation of authority for decision-making, execution, and oversight at each level. This structure establishes a governance mechanism characterised by sound division of responsibilities and efective checks and balances, ensuring that the Company's governance meets the regulatory standards applicable to listed companies both domestically and internationally.

General Meeting of Shareholders

The General Meeting of Shareholders is the Company's supreme authority, exercising powers in accordance with applicable laws, including the power to determine business policies and investment plans, and to elect and replace directors and supervisors. The General Meeting of Shareholders is also responsible for reviewing and approving the reports of the Board of Directors and the Supervisory Board, ensuring the transparency and compliance of corporate governance.

Board of Directors

During the Reporting Period, the Company's directors diligently performed their duties in compliance with applicable laws and regulations, keeping abreast of operations through Board meetings and management briefings. The Board, accountable to the General Meeting, oversees four specialised committees—Audit, Nomination, Remuneration and Appraisal, and Strategy and ESG—which convene regularly to fulfil their advisory and oversight functions.

The Board was expanded from 9 to 11 members with the addition of one employee representative director and one independent director. The Company also abolished the Supervisory Board, transferring its powers to the Board's Audit Committee.

The Company revised multiple internal governance policies covering Board and committee procedures, independent directo systems, shareholding management, external guarantees and investments, related-party transactions, financial derivatives, proceeds management, insider information, investor relations, and information disclosure, to standardise capital marke operations and strengthen risk management.

The Company also disclosed its Three-Year (2025–2027) Shareholder Dividend Return Plan, demonstrating its commitment to rewarding shareholders.

Strategy

Corporate governance is the foundation for the Company's sound and stable development. Weiming Environment Protection has a robust governance structure, with clearly defined functional responsibilities for the Board of Directors and strengthened decision-making and oversight mechanisms, ensuring that the Company's operations comply with applicable laws and regulations while responding to the expectations of shareholders and other stakeholders. The Company has implemented a range of governance strategies, enhancing its governance standards across multiple dimensions including information disclosure, protection of investor rights and interests, regulation of related-party transactions, and Board diversity.

Management of Impacts, Risks and Opportunities

Information Disclosure

The Company attaches great importance to information disclosure and transparency, strictly complies with applicable laws, regulations and regulatory requirements, and continuously improves its Articles of Association and Investor Relations Management System to provide clear guidance for compliant, effective disclosure and investor relations, and clear and accessible communication and information channels for shareholders and prospective investors. It regards lawful and compliant disclosure as the cornerstone of regulated operations and investor communication, and, in accordance with laws and regulations including the Regulations on Information Disclosure of Listed Companies, has established systems including the Information Disclosure Management System and the Insider Information Registration and Filing Administration System to define disclosure principles and requirements, optimise approval processes, and ensure truthful, accurate, complete, timely and fair disclosure.

Protection of Investor Rights and Interests

The Company attaches great importance to investor relations management and strictly implements its Articles of Association, safeguarding shareholders' rights to participate in decision-making and receive returns. It upholds a long-term return philosophy, adheres to its profit distribution policy, and maintains sustained cash dividends, enabling investors to share in development outcomes. Over the past three years, cumulative cash dividends totalled RMB 1.493 billion, ranking among the highest in the industry by absolute dividend value

To communicate its advanced management philosophy, development achievements and strategic direction, the Company engages investors through multiple channels, including online and in-person institutional investor research visits, telephone conferences and online results briefings after periodic reports, investor strategy conferences organised by securities firms, and the SSE e-Interactive Platform, hotlines and email for retail investor enquiries. It also engages major shareholders, prospective investors and retail investors to build stable relationships and strengthen investor relations management.

Regulation of Related-Party Transactions

The Company has formulated a Related-Party Transaction Decision-Making System, which sets out in detail the scope o related-party transactions, review procedures, information disclosure requirements, and recusal arrangements, ensuring that transactions between the Company and its related parties comply with the principles of fairness, impartiality, and openness. In 2025, all related-party transactions were processed strictly through the required decision-making and approval procedures in accordance with applicable laws, regulations, and internal policies, and were disclosed accurately and in a timely manner. No instances occurred in which related-party transactions were used to the detriment of the Company's interests or those o its minority shareholders.

Metrics and Targets

The Company recognises the critical importance of Board diversity in achieving its strategic objectives and sustainable development goals, and is committed to building a diverse Board composition with appropriate consideration and balance across multiple dimensions.

Board Diversity and Independence

The Company places great importance on the independence and diversity of the Board of Directors and has formally adopted a Board diversity policy, with the Nomination Committee reviewing progress against targets on an annual basis. Director selection takes into account multiple factors including gender, age, educational background, professional experience, and skills, ensuring a well-balanced and sound Board composition.

The Company continuously improves its governance framework, and through systematic training and optimisation of the committee structure, continues to enhance directors' capacity to fulfil their duties and the quality of decision-making

During the reporting period

11

board of directors（including 1 employee representative director） with a balanced composition:

36.36%

Independent Directors

Ratio

2

Female Directors

18.18_. %

Ratio

35-65

members ranging in age

professional backgrounds spanning environmental science, business administration, financial accounting, law, and administrative management.

Board Diversity Policy Targets

Directors' and Senior Management's Remuneration and Appraisal

Remuneration and Appraisal Management

Weiming Environment Protection has established a remuneration and appraisal management system for directors and senior management, incorporating ESG indicators — including quality and efficiency, strategy execution, innovation-driven development, professional management, work safety, energy conservation and environmental protection, and compliance — into the performance appraisal framework, with performance-based remuneration linked to appraisal outcomes.

In 2025, building on existing energy conservation and environmental protection indicators, the Company reclassified work safety from a constraint-based indicator to a weighted appraisal indicator, assessed across process management and outcome efectiveness to reinforce accountability.

Remuneration and Appraisal Review

The Remuneration and Appraisal Committee of the Board of Directors of Weiming Environment Protection is responsible for making recommendations to the Board regarding remuneration plans or schemes for directors, supervisors, and other members of senior management, as well as related appraisal matters. In formulating remuneration proposals, the Committee takes comprehensive account of factors including the Company's strategic development objectives, remuneration levels within the industry, and the performance of directors and senior management in discharging their duties, so as to ensure that remuneration arrangements are equitable internally and competitive externally.

Senior Management Remuneration Management

Certain provisions of the Company's remuneration and incentive arrangements for senior management specify that senior management remuneration comprises a base annual salary, performance bonus, and tenure-based incentive, reflecting the principle of combining short-term and long-term incentive elements.

For members who violate laws or regulations, fail to discharge duties diligently, cause asset losses, or are responsible for material work safety or environmental incidents, the Company will reduce or claw back performance-based annual salary and tenure-based incentive payments already disbursed. This mechanism applies equally to those who have resigned or retired.

★ Internal Control and Risk Management

Governance

Weiming Environment Protection places great importance on the effective operation of its risk management and internal control systems. The Company has established an Internal Audit System and continuously explores and refines a risk management framework aligned with its operational objectives, providing a robust foundation for the Company's high-quality development.

The Board of Directors, as the highest governance body for risk management, is responsible for setting the Company's overal risk management objectives and overseeing the implementation of risk governance and internal controls. Within the Board's governance framework, the Company has established a sound risk management organisational structure and has successfully built a systematic "three lines of defense" for risk management, effectively implementing coordinated management and management-at-source mechanisms to ensure the eficient operation of the risk management framework and to underpin the Company's steady development

R i s k G ove r n a n ce Fra m e wo r k : " T h re e L i n e s of D efe n s e "

• Business department managers are the direct bearers and managers of risk. They are responsible for identifying key risks within their respective areas of responsibility, reporting risk changes in a timely manner, and conducting reasonable assessments and controls of relevant risks.

• A risk management function has been established at the senior management level, responsible for setting risk management standards and for monitoring and guiding the first line of defense in its implementation of those standards.

• The internal audit department is responsible for providing independent and objective review and assessment of the efectiveness of material risk management and internal control activities. The internal audit department reports directly to the Board of Directors, ensuring the objectivity, authority, and credibility of internal audit findings.

The Company has established a risk management organisational structure encompassing processes for risk identification, assessment, and monitoring, as well as a risk register and response strategies. Risk management is categorised into two broad types — conventional risks and emerging risks — covering the identification and response to impacts and risks relating to the Company's sustainable development

Strategy

A sound risk management framework and an effective internal control system are critical foundations for ensuring the Company's sustainable development and enhancing its market competitiveness. Drawing on its comprehensive risk governance framework, the Company has established systematic mechanisms for risk identification, assessment, and monitoring. With a forward-looking management approach, risk management and internal controls are embedded into business decision-making and operational processes, ensuring stable growth and the creation of long-term value in a complex operating environment.

Management of Impacts, Risks and Opportunities

The Company manages risks through a closed-loop process encompassing risk identification, risk assessment, risk response, and risk monitoring, and periodically reassesses risks and reviews response strategies to promote the Company's sustainable development.

Risk Identification Methods

Approaches including research inter views, structured analysis, c h e c k l i s t r e v i e w s , s c e n a r i o analysis, sensitivity analysis, expert consultation, and policy analysis are applied.

Risk Identification Dimensions

Risk Classification Management Framework

Risk Assessment Methods

Integrated analysis is conducted across areas including the macroeconomic environment, laws and regulations and policies, market conditions, technological innovation, financial position, human resources configuration, management measures, and information reporting.

Potential risks are identified across strategic, market, operational, financial, and legal dimensions.

Basis for Risk Assessment

R i s k s a r e a s s e s s e d b a s e d o n t h e i r probability of occurrence, degree of impact, and controllability, taking into account the Company's risk management philosophy and risk tolerance

Qualitative analysis, quantitative analysis, and combined analysis.

Four risk control strategies have been established: risk avoidance, risk transfer, risk mitigation, and risk acceptance.

Risk Control Strategies

Risk Response Measures

For material risk events, risk response plans are formulated and implemented, incorporating emergency response, recovery response, remedial response, and preventive response measures.

The Company has established a closed-loop crisis management mechanism covering pre-event prevention, in-event response, and post-event review, along with a classification and tiering framework for responses. Procedures for the collection and disclosure of risk information are standardised, and tailored response measures have been developed for risks including changes in environmental protection policies, iteration of new energy technologies, and overseas investments, so as to comprehensively strengthen the Company's risk management and crisis response capabilities.

Internal Control System

In accordance with the Basic Standard for Enterprise Internal Control and its accompanying guidelines, the Company has established a comprehensive internal control management system, and has formulated supporting policies and procedures to further standardise internal control standards and processes, ensuring that all aspects of the Company's operations are governed by clear rules and conducted in an orderly and compliant manner.

Key Areas of Focus in Internal Control System Development:

During the Reporting Period, the Company focused on deepening internal control management in the following areas:

Internal Audit and Oversight

The Audit Committee of the Board of Directors is responsible for overseeing the development and implementation of interna control-related policies and procedures, and for reporting regularly to the Board of Directors on the progress of internal audi work and on material issues identified. The Audit Committee comprises 3 directors, two-thirds of whom are independent directors. During the Reporting Period, the Company organised and implemented a series of internal audit training programmes covering the specific responsibilities of the internal audit department, efective whistleblowing and oversight mechanisms, and the identification and prevention of various types of violations that may be encountered in operations, so a to strengthen the professional capabilities and operational standards of the internal audit department.

Tax Transparency

The Company strictly complies with applicable national and local tax laws and regulations, pays all taxes — including corporate income tax and value-added tax — in full and on time, and is committed to tax compliance, providing complete disclosure of relevant information to tax authorities when required. The Company prohibits tax evasion. Under the supervision of the finance department and the Audit Committee, the tax team manages tax costs and risks efectively. In addition, the Company actively applies for government-authorised tax incentive programmes to support research and developmen activities, and provides detailed reporting in its reports on the Company's tax obligations and tax incentives enjoyed, ensuring tax transparency.

Equal Treatment of SMEs

With respect to accounts payable to small and medium-sized enterprises (SMEs), the finance department and procurement department convene meetings periodically to review the status of accounts payable to SMEs and to take proactive management measures. By optimising payment processes and strengthening supply chain finance coordination, the Compan has established a standardised and effective accounts payment mechanism, building a long-term, stable, and mutually beneficial cooperative ecosystem with its suppliers

★ Business Ethics and Anti-Corruption

The Company is committed to developing a multi-dimensional governance framework, achieving strategic advancement, continuously enhancing governance effectiveness and core competitiveness, and promoting high-quality corporate development.

Governance

The Company is committed to developing a multi-dimensional governance framework to achieve strategic advancement, continuously strengthening governance effectiveness and core competitiveness, and promoting high-quality corporate development. The Company places great importance on the development of business ethics and anti-corruption work, regarding these as the cornerstone of sustainable corporate development.

The Board of Directors, as the highest governance body for business ethics and anti-corruption work, is responsible for setting the Company's overall objectives for integrity and compliance, and for overseeing the implementation of anti-corruption governance and business ethics development. Within the overall governance of the Board, the Company has established a three-tier anti-corruption governance framework of "system – execution – oversight," with clearly defined boundaries of responsibility for integrity and clean business conduct at each level.

Anti-Corruption Governance Framework: "Three Lines of Defense"

• All employees are the direct practitioners of clean and honest business conduct. They are responsible for identifying corruption risks in the course of business activities, complying with the Company's Anti-Corruption and Anti-Commercial Bribery Management Policy, reporting suspected violations in a timely manner, and bearing responsibility for their own and their team's integrity and compliance.

The Anti-Corruption and Anti-Commercial Bribery Management Policy established by the Company is designed to build an anti-corruption governance framework covering all employees, all business activities, and all processes. It sets out the standards of business ethics conduct, the requirements for clean and honest business practices, and the penalties for violations, and incorporates business ethics risks into the Company's enterprise risk management framework

Strategy

Grounded in its core values of integrity, dedication, innovation, and advancement, the Company treats anti-corruption and the cultivation of business ethics as central to its management of corporate conduct. In strict compliance with the Crimina Law of the People's Republic of China, the Anti-Unfair Competition Law of the People's Republic of China, and other applicable laws and regulations, the Company has — through improvements to the management framework, implementation of policy requirements, strengthening of training and awareness programmes, and the conduct of regular inspections — established a systematic mechanism for identifying, preventing, and monitoring integrity risks. With a forward-looking governance approach, business ethics development has been deeply integrated into the full process of business decision-making and operations, ensuring sustained adherence to compliant business conduct in a complex commercial environment, upholding the Company's image as an enterprise of integrity, and creating long-term value.

Management of Impacts, Risks and Opportunities

The Company manages business ethics risks through a closed-loop process of "prevention – monitoring – response – improvement," and regularly evaluates its anti-corruption work, researches optimisation strategies, and promotes the development of an integrity culture within the enterprise.

Each business unit periodically identifies corruption risk points in business activities, including key areas such as procurement tendering, construction contracting, and project approval. The legal department formulates integrity risk checklists in accordance with actual business conditions and conducts "integrity governance training" and "clean business conduct training" programmes, covering the Employee Code of Conduct of Weiming Environment Protection, corporate culture, policies, and management systems, providing comprehensive and systematic education for management personnel and frontline employees.

The internal audit department conducts regular audits of financial and business processes to ensure that all activities comply with applicable laws, regulations, and internal policies. The Company requires all suppliers to sign the Supplier Integrity and Clean Business Commitment Letter, clearly establishing the requirement for both parties to strictly observe integrity and self-discipline standards throughout the course of their cooperation, so as to eliminate corruption at source.

The Company has established anti-corruption reporting channels (reporting hotline, email, and offline public notices), encouraging employees to report violations through anonymous reporting and other means. The Company adopts a zero-tolerance approach to violations: all verified violations are handled strictly and without exception. Whistleblower protection provisions are in place to ensure the security and confidentiality of reporting information.

The internal audit department regularly evaluates the effectiveness of anti-corruption policy implementation and reports to the Audit Committee of the Board of Directors. The Company continuously optimises its anti-corruption policy framework and updates and revises the Anti-Corruption and Anti-Commercial Bribery Management Policy in a timely manner in response to regulatory changes and business developments, driving continuous improvement in business ethics management.

In addition, the Company has established a closed-loop mechanism for handling business ethics incidents covering pre-event prevention, in-event response, and post-event rectification, ensuring that emergency responses, investigations, handling, and rectification in relation to compliance violations are conducted in an orderly manner, efectively containing adverse impacts and safeguarding the Company's reputation.

During the Reporting Period, the Company further standardised its business ethics management activities and formulated dedicated training plans to strengthen integrity awareness across all employees. No instances of corruption or bribery were identified in any of the Company's procurement or other transactional activities during the Reporting Period. Anti-corruption and business ethics training covered all levels, including the Board of Directors, senior management, middle management, junior management, and general employees

During the reporting period

Number of Participants in Anti-Corruption and Business Ethics Training

11

201

505

1,239

Board of Directors

Senior Management

Middle Management

General Employees

Whistleblowing Management Mechanism

The Company conducts fraud risk assessments in key business areas and key positions, and carries out regular annua "business ethics and anti-fraud" internal audits across all group companies, supplemented by ad hoc dedicated internal audits targeting fraud risks as required.

Whistleblowing Channel Development

The Company provides a unified reporting email address, reporting hotline, reporting WeChat account, and reporting fax number, encouraging internal employees and external parties to report violations, illegal acts, and criminal conduct occurring in the course of operations in a timely manner. The reporting channels are available around the clock (24 hours a day, 7 days a week) to receive complaints and reports from the Company's employees, business partners (including clients and suppliers), and members of the public, and are publicised to all employees and to the public through multiple channels including the Company's oficial website, internal email, training sessions, and notice boards.

The Company has established a dedicated inspection and audit department responsible for managing the reporting channels and ensuring the strict confidentiality of all reporting information. The Company has issued regulations for the protection and reward of whistleblowers who report violations and illegal conduct, which expressly prohibit any company or individual from suppressing, obstructing, retaliating against, or framing a whistleblower. Where any such conduct is identified, the Company will take strict disciplinary measures and resolutely protect the legal rights and interests of the whistleblower.

The Company evaluates all received reports and initiates formal investigations into matters where clear violations or illegal conduct are established. Where criminal liability is suspected, the matter is referred to the judicial authorities in accordance with applicable law.

Reporting Channels

Reporting Hotline: 0577-86056018-6389

Email: wmhbnsb@cnweiming.com

Ofline Reporting: All subsidiaries and branches are required to display the internal audit oversight and reporting channels on a permanent basis in canteens, notice boards, and other working areas.

During the Reporting Period, no reports were received.

6 CIE MATERON

RESPONSIBLE MPTION PRODUCTION

13 CLMONE

15 UNLANDAN

03

Environmental Stewardship Leading the Green and Low-Carbon Transition

Environmental Compliance★ Management

Pollutant Emissions★

Water Resource Utilisation

Energy Utilisation★

Climate Change Response★

Circular Economy

• Biodiversity

Treatment of Three Wastes

Environmental Compliance Management

Governance

In compliance with the Ecological Environment Code of the People's Republic of China and other national laws and regulations, the Company maintains a top-down environmental governance structure. The Board of Directors and senior management bear ultimate responsibility, approving the policy of "energy conservation, consumption reduction, emission reduction, and efficiency enhancement" and major environmental decisions. The Company implements the Treatment of Three Wastes Measures, fulfils environmental compliance responsibilities at all management levels, and operates an environmental management system and accountability mechanism to ensure all operations comply with national and loca environmental requirements and uphold the compliance baseline.

Strategy

Environmental compliance management is the lifeline of Weiming Environment Protection's sustainable development. By improving its management framework, strengthening policy development, participating in environmental managemen system certification, establishing standardised disclosure under Ministry of Ecology and Environment requirements, advancing ISO 14001 certification, and integrating system requirements into new and ongoing projects, the Company standardises environmental management and translates strategy into practice.

Management of Impacts, Risks and Opportunities

The Company has established a comprehensive framework for environmental risk identification, response and opportunity management. It regularly identifies and reviews environmental hazards, determines risk levels and impacts under risk assessment standards, and uses the results to support risk control decisions. The Company continuously optimises emergency response plans, improves response mechanisms, equips necessary facilities and rescue materials, and conducts drills and safety training for environmental pollution and climate-related scenarios, enhancing emergency capabilities, protecting employees and operations, while capturing opportunities arising from environmental management system certification, proactive environmental information disclosure, enhanced stakeholder trust and green finance support.

Metrics and Targets

The Company addresses environmental risks at source, sets environmental management red-line targets and indicators, fulfils its primary environmental protection responsibility, and ensures all operations meet environmental standards. Going forward, it will strengthen environmental management across all business areas, prevent material administrative penalties and environmental incidents, and contribute to a Beautiful China.

★ Energy Utilisation

Governance

Weiming Environment Protection strictly complies with applicable laws and regulations, including the Law of the People's Republic of China on Energy Conservation, and has established a comprehensive energy management system. The Company strictly implements its Climate Change Response Management Measures, requiring each project company to actively carry out energy conservation and consumption reduction activities in accordance with actual conditions. Through the establishment of an energy management organisational structure, clearly defined energy conservation responsibilities for each department, and the decomposition of energy management targets across all business activities, the Company ensures the effective implementation of energy management measures.

Strategy

The Company is committed to optimising its energy mix and increasing the proportion of green and low-carbon energy. I obtains electricity and steam from municipal solid waste (MSW) incineration for power generation, purchases electricity from the municipal grid, and generates energy through photovoltaic (PV) equipment installed on plant premises. By continuousl improving its energy mix and environmental safety, the Company advances its transition towards a low-carbon, circula development model.

Weiming Environment Protection's Expansion of Photovoltaic Projects

Weiming Environment Protection and its subsidiaries have actively expanded into photovoltaic (PV) projects. By the end of the Reporting Period, the Company had completed installation, commissioning and grid connection of PV projects a Weiming Shengqing Phase I, Dushan Equipment Plant, Binhai Equipment Plant and Yongjia Wastewater Treatment Plant, with a combined installed capacity of approximately17MW. At Dushan Equipment Plant, rooftop PV panels across Phase I and Phase II total nearly 5 MW and are expected to generate approximately 4.63million kWh annually, reducing standard coal consumption by about 1,300 tonnes and CO emissions by about 3,600tonnes

In 2026, the Company plans to add approximately 22 MW of rooftop PV capacity, generating abou 23million kWh annually after grid connection, further increasing clean energy use and supporting the achievement of the "Dual Carbon" targets.

Management of Impacts, Risks and Opportunities

While maintaining operational eficiency, Weiming Environment Protection explores and implements energy conservation and emission reduction pathways. During the Reporting Period, its main energy sources included natural gas, diesel, electricity and petrol. Activities, including WtE incineration, wastewater treatment, fly ash landfill disposal, food waste treatment, waste collection, ofice operations, and investment and construction, are managed according to energy characteristics to reduce costs, minimise environmental impacts and capture green transition opportunities

Environmental Impact Analysis Across Business Activities

Weiming Environment Protection Energy Management Measures

Energy Conservation Retrofitting

Details

Increase investment in high-efficiency energy-saving equipment; retrofit production systems for energy conservation

• Deploy advanced process technologies to improve energy utilisation eficiency

Implement waste heat recovery projects to reduce energy losses

• Apply refined management to production equipment; establish an energy consumption monitoring system

Regularly analyse energy consumption data to identify energy conservation opportunities

Day-to-Day Management

• Formulate and implement energy-saving operating procedures

Energy Training

Regularly organise employee participation in energy management training

Conduct energy conservation awareness education to enhance employees' sense of responsibility for energy conservation

• Develop professional energy management personnel

• Incorporate energy eficiency into procurement evaluation criteria

Prioritise energy-saving and environmentally sound equipment and materials

• Establish a green supply chain management system

Sustainable Procurement

Metrics and Targets

Climate Change Response

Governance

Climate-Related Governance Bodies and Operational Appraisal

Weiming Environment Protection has integrated sustainability principles into its corporate governance and established a four-tier management framework comprising the Board of Directors, the Strategy and ESG Committee, the Strategy and ESG Committee Office, and the Business Working Groups. Climate-related issues are advanced jointly at the Board and management levels. The Board of Directors bears ultimate responsibility, integrating climate risks and opportunities int the Company's overall strategy. The Strategy and ESG Committee of the Board of Directors is responsible for formulating strategy, identifying risks, and overseeing implementation, operating on a regular meeting mechanism. Heads of each business segment are responsible for implementing specific actions, ensuring that climate management is efectively communicated and implemented throughout the organisation.

Strategy and ESG Committee

Formulate strategy; approve projects; oversee implementation

Strategy and ESG Committee Office

Coordinate working groups; prepare reports; facilitate collaboration

Heads of each business segment

Implement climate actions; collect data; report progress

Strategy

Climate-Related Risks and Opportunities

As a leading enterprise in the solid waste treatment sector, Weiming Environment Protection fully recognises that climate change presents both risks and opportunities. The Company's core business of waste-to-energy (WtE) incineration delivers significant carbon emission reduction and energy recovery benefits, aligns with the national "Dual Carbon" strategic direction, and ofers strong development prospects. At the same time, the business faces challenges at both the transition and physica levels.

Climate Scenario Analysis

Drawing on the internationally recognised IPCC AR6 scenario framework and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), Weiming Environment Protection regularly conducts climate scenario analysis to assess the potential business and financial impacts of diferent low-carbon transition pathways and climate physical impacts

Under the guidance of the "Dual Carbon" strategy, the core business of WtE incineration power generation serves as an important means of reducing and substituting carbon emissions, and the development opportunities faced by the busines as a whole outweigh the challenges. The Company will need to continue strengthening its technical reserves and capacity in areas such as energy eficiency improvement, renewable energy utilisation, and resource circularity, while systematically assessing and managing physical risks to ensure the safety and resilience of assets and operations in the context of long-term climate change.

Climate Transition Plan

Comprehensively apply clean energy and promote the application of relatively mature carbon removal technologies; strive to achieve carbon neutrality.

Key Assumptions and Dependencies for the Transition Plan

Policy assumption：Heat supply business becomes a new growth lane in the industry; coordination between computing power and electricity drives green power project collaboration.

Technology assumption：Medium-temperature sub-highpressure and high-temperature high-pressure (HTHP) grate-type incinerator technologies progressively mature; photovoltaic costs continue to decline.

Market assumption： Liquidity in the Renewable Energy Certificate (REC) market improves; green power premium of 5%–10%.

Dependencies：Stability of government subsidy policies; grid absorption capacity; progress in the development of the carbon market.

Management of Impacts, Risks and Opportunities

Risk and Opportunity Management

Climate Risk Management

The Company has formally integrated climate-related transition risks and physical risks into its enterprise risk management framework for centralised management, establishing a material climate risk register and formulating corresponding management measures.

H: High M: Moderate

Business Continuity

Supply Resilience

Climate Resilience Development:

In project investment decision-making, a preliminary assessment of climate risks (such as extreme precipitation and sea level rise) in the area of a proposed project site is conducted. Business continuity plans are formulated for key operational activities (such as waste collection and transportation, grid power delivery, and pollutant treatment), ensuring that both primary and backup pathways are in place.

In partnerships with core equipment and consumables suppliers, their capacity to adapt to climate risks is taken into account. Diversification of supply sources for key materials is explored to reduce the risk of supply disruption in any single geographic area due to extreme weather events.

Climate-Related Risk and Opportunity Analysis Approach

The Company has established a systematic climate risk and opportunity management process covering four key elements: identification, assessment, analysis, and monitoring：

During the Reporting Period

the Company further upgraded its climate risk assessment methodology and added a climate scenario analysis module. Drawing on data from the Sixth Assessment Report (AR6) of the Intergovernmental Panel on Climate Change (IPCC), the following scenarios have been established:

High Emissions Scenario (SSP5-8.5): Global greenhouse gas (GHG) emissions remain persistently elevated; the global average temperature rise reaches ^4.4 ℃ by 2100.

Low Emissions Scenario (SSP1-2.6): Active global emission reductions keep the temperature rise within 1.5 textcircled -2

To accurately assess the potential impact of various climate factors on the Company, the time horizon for risks and opportunities is categorised as follows:

Present 2030

2031 2040

2041 2060

Short-term

Medium-term

Long-term

A phased impact assessment is conducted for each identified climate risk and opportunity, providing a scientific basis for strategic decision-making.

Climate Risk Financial Impact Analysis

Climate Opportunity Financial Impact Analysis

H: High M: Moderate

Metrics and Targets

Decarbonisation Plans and Targets

The Company's overall target is "initial decarbonisation by 2030 and deep decarbonisation by 2060." A phased and quantified roadmap has been developed, setting out the intended pathway to achieving the phased "Dual Carbon" targets

Achieve initial decarbonisation

Achieve initial decarbonization with over 15 green certificate projects developed; boost PV capacity to 50 MW; complete ultra-low emission retrofits for Zhejiang waste-to-energy plants; expand wasteto-energy business to Belt and Road countries with growing project pipeline; increase green heating projects; and drive supply chain partners to integrate low-carbon practices into operations.

2030

Achieve sustained decarbonisation

2040

Ensuring green certificate projects cover all domestic WTE plants; install photovoltaic power generation systems in over 80% of projects and facilities; continuously increase the proportion of overseas WTE projects; achieve full coverage of green heating projects; enhance negative carbon technologies, and strive to ensure that the primary purchased raw materials meet the company's carbon reduction targets.

Achieve deep decarbonisation

Clean energy will be comprehensively applied and relatively mature carbon removal technologies promoted and deployed. The Company will strive to achieve carbon neutrality

2060

Greenhouse Gas Emissions Accounting

Accounting Methodology

The Company accounts for greenhouse gas (GHG) emissions in accordance with the GHG Protocol (Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard) and ISO 14064-1. Emission factors are principally sourced from the Corporate Greenhouse Gas Emission Accounting Methods and Reporting Guidelines issued by the Ministry of Ecology and Environment o China and from the latest IPCC guidelines.

Sources of Greenhouse Gas Emissions of Weiming Environment Protection

Sources of Greenhouse Gas Emissions of Weiming Environment Protection (by Business Segment)

Treatment of Three Wastes

Solid Waste Treatment

Solid waste generated during the Company's production processes is managed in strict accordance with environmental impact assessment approvals and applicable national and local standards. Through standardised storage, classified disposal, and resource recovery, the Company ensures full regulatory compliance, including the Standard for Pollution Control of General Industrial Solid Waste Storage and Landfill (GB 18599-2020), and implements measures for leakage prevention, rain protection, and dust suppression. The Company also promotes green packaging, prioritising recyclable materials to reduce environmental impacts and optimise costs.

Solid Waste Categories of the Company (Classified by Business Type)

Solid Waste Management Targets and Plans

The Company is committed to developing comprehensive urban environmental protection infrastructure to address waste disposal challenges and promote sustainable ecological development, aiming to become an internationally advanced, domestically leading solid waste treatment provider. Guided by circular economy principles with MSW incineration at its core, the Company coordinates treatment services for food waste, sludge, agricultural and forestry waste, and industrial solid waste building a "multi-source coordination and resource circularity" system. Going forward, it will actively expand domestic and international markets, strictly implement the "Three Wastes" (wastewater, waste gas, solid waste) compliance discharge and full-process management framework, and continuously improve environmental governance and operational standards.

Solid Waste Disposal Methods:

1.Each project company has established a solid waste classification system, classifying waste according to its nature, providing corresponding collection facilities and containers, and setting up temporary storage areas.

2.Packaging material management is strengthened, with the promotion of recyclable or reusable packaging materials and an increasing proportion of recyclable packaging materials used, so as to reduce environmenta pollution and lower raw material costs.

3.Hazardous solid waste is entrusted by each project company to qualified units for unified disposal.

4.Non-recyclable solid waste is arranged by each project company to be sent to designated waste disposal sites, ensuring that the treatment process complies with environmental protection requirements

• 5.The recovery and reuse efficiency of recyclable solid waste is enhanced; resource circularity is achieved through cooperation with relevant enterprises and organisations, promoting sustainable development.

Case Longwan Weiming Renewable Resources Project –

A Model for Kitchen Waste Resource Recovery and Utilisation

As urbanisation in China accelerates, the volume of solid waste generated continues to grow, and conventional landfill methods can no longer satisfy the environmental requirements of "waste reduction, resource recovery, and harmless disposal." As one of China's leading comprehensive solid waste treatment services providers, Weiming Environment Protection continued to deepen its solid waste classification, treatment, and resource recovery and utilisation activities in 2025, developing replicable technical and management experience in the recovery, utilisation, and treatment of kitchen waste.

Linjiang Food Waste Treatment

Applying a "pretreatment + anaerobic digestion" process, the project generates nearly 6 tonnes of industrial grease per day, approximately 14,000 cubic metres of biogas per day, and more than 20,000 kWh of green power per day, achieving resource recovery from food waste

Pollutant Emissions

Governance

The Company strictly complies with the Ecological Environment Code of the People's Republic of China and the Company's internal Waste Gas, Wastewater and Solid Waste Management Measures, and has established an environmental management mechanism covering all business segments. The environmental protection departments of each project company are responsible for regularly updating their wastewater and waste gas discharge inventories, clarifying the types of emissions and control processes, and ensuring that all production and business activities comply with applicable national and loca environmental protection laws and regulations. The relevant governance framework is described in the "Environmenta Compliance Management" section.

Strategy

The Company is committed to minimising pollutant emissions and achieving efficient resource circularity. Through the promotion of "zero-discharge" technologies, optimisation of treatment processes, and strengthening of online monitoring, the Company continuously reduces the environmental impact of wastewater and waste gas. In its WtE incineration, fly ash landfill disposal, and food waste treatment businesses, the Company actively introduces advanced flue gas purification and wastewater treatment technologies, driving full-process green operations spanning source emission reduction, in-process control, and end-of-pipe treatment, contributing to the achievement of the carbon peaking and carbon neutrality targets.

Management of Impacts, Risks and Opportunities

The Company has formulated classified control measures and disposal plans for wastewater and waste gas generated by diferent types of business. Each project complies with its environmental impact assessment approval, pollutant discharge permit, and self-monitoring programme; periodically engages third-party organisations to conduct emissions testing; and constructs, connects to the network, and maintains a real-time Continuous Emissions Monitoring System (CEMS), ensuring that emissions data is publicly disclosed in a transparent manner. In the event of abnormal operation of environmenta protection equipment, the Company has emergency response plans in place to ensure rapid response, timely rectification, and compliance with discharge standards. Through online monitoring and public data disclosure, the Company efectively identifies emissions risks and enhances its environmental compliance standards.

Yongjia Wastewater Treatment Plant – Clean Discharge Upgrading Project

Yongjia County Weiming Wastewater Treatment Co., Ltd. completed its effluent standard upgrading works in November 2024 and commenced operations in July 2025. The project raised the effluent standard from China's National Class IA standard to Zhejiang Province's local standard (DB33/2169-2018), further reducing the discharge concentrations of Chemical Oxygen Demand (COD), total nitrogen (TN), ammonia nitrogen (NH3-N), and total phosphorus (TP), with real-time online monitoring implemented. Following the upgrade, the quality of treated efluent improved significantly, directly reducing the pollutant loading on the Oujiang River and alleviating downstream treatment pressure. The treated efluent can also be reused for urban greening and industrial water use, achieving water resource recycling, and providing strong support for Wenzhou's "Five-Water Co-Governance" initiative and ecological development.

Wastewater Management Requirements and Treatment Methods

Governing policies: Waste Gas, Wastewater and Solid Waste Management Measures, etc.

Business types and discharge indicators:

WtE incineration:flow rate, pH value, Chemical Oxygen Demand (COD), Five-Day Biochemical Oxygen Demand (BOD ), suspended solids, total nitrogen (TN), ammonia nitrogen (NH -N), total phosphorus (TP), faeca coliforms, total mercury, total cadmium, total chromium, hexavalent chromium, total arsenic, total lead, etc.；

Food waste treatment: suspended solids, Five-Day Biochemical Oxygen Demand (BOD ), Chemical Oxygen Demand (COD), ammonia nitrogen (NH -N), total phosphorus (TP), animal and vegetable oils, etc.

Pollution source control measures:

Leachate treatment facilities, demineralised water systems, initial rainwater collection systems, wastewater treatment plants, etc.

Treatment methods:

Each project company classifies and collects domestic sewage, leachate, wash water, and other effluents for separate treatment. The Linjiang, Yongfeng, and Ningjin projects have achieved zero liquid discharge (ZLD); the quality of treated efluent meets the requirements of the Standard for Pollution Control of Municipal Solid Waste Landfills（GB16889-2008）and the Standard for Water Quality of Urban Wastewater Recycling – Industrial Water（GB/T19923-2005）, and the treated water is reused for plant greening, road spraying, and other purposes. The Yongjia Wastewater Treatment Plant provides centralised treatment of municipal wastewater; upon achieving compliant discharge standards, the treated water may be reused for urban greening and industrial water use.

Waste Gas Management Requirements and Treatment Methods

Governing policies: Waste Gas, Wastewater and Solid Waste Management Measures, etc.

Business types and discharge indicators:

WtE incineration: particulate matter (PM), sulfur dioxide (SO ), carbon monoxide (CO), hydrogen chloride (HCl), nitrogen oxides (NOx), heavy metals (antimony, arsenic, lead, chromium, cobalt, copper, manganese, nickel, etc.), cadmium, thallium, mercury and its compounds, dioxins, etc.

Wastewater treatment:ammonia, hydrogen sulfide, malodorous gases, etc.

Food waste treatment:hydrogen sulfide, ammonia, malodorous gases, etc.

Waste collection and transportation: malodorous gases, vehicle exhaust, etc.

Pollution source control measures:

Selective Non-Catalytic Reduction (SNCR) denitrification, semi-dry / dry acid gas removal, activated carbon adsorption, fabric filter, Selective Catalytic Reduction (SCR) denitrification, wet acid gas removal, Continuous Emissions Monitoring System (CEMS), etc.

Treatment methods:

A comprehensive flue gas treatment process is applied, subjecting incineration flue gas to multi-stage treatment to ensure that particulate matter, acid gases, nitrogen oxides, dioxins, and heavy metals all achieve compliant discharge standards. All discharge outlets are monitored in accordance with applicable standards, and data is uploaded in real time to the public automated monitoring data platform for MSW incineration power generation facilities, subject to public oversight.

Metrics and Targets

The Company upholds compliance as its baseline, continuously strengthens environmental management across all business segments, and drives ongoing improvement in environmental performance. On the basis of strict regulatory compliance, the Company actively responds to emission reduction requirements and has established clearly defined quantitative targets

Water Resource Utilisation

In the course of its day-to-day operations, Weiming Environment Protection is involved in a variety of water consumption scenarios, including domestic water use (such as drinking water, cleaning, and sanitation facilities) and production water use (such as cooling and circulation water for WtE projects and chemical solvent preparation water for wastewate treatment processes). The Company strictly complies with the Law of the People's Republic of China on Water and the applicable regulations of the jurisdictions in which its projects operate, has established and implements a standardised water use management system, and ensures the compliance and scientific management of water resource use. During the environmental impact assessment stage for projects, the Company fully considers the impact of water resource utilisation on surrounding ecosystems and community water use, ensuring that business operations do not encroach upon the water use rights of local communities and other stakeholders. During the Reporting Period, no water scarcity issues arose at any of the Company's operational projects, and the supply of water resources remained stable and manageable. The Company actively conducts rainwater collection and reuse, and has achieved 100% collection and reuse at certain WtE incineration projects

Process Optimisation

Wuyi Power Plant – Leachate Treatment

Innovatively combining leachate from the landfill and the WtE plant for joint treatment, the project applies a "pretreatment + Upflow Anaerobic Sludge Blanket (UASB) reactor + Membrane Bioreactor (MBR) biologica treatment system + nanofiltration (NF) membrane + reverse osmosis (RO) membrane" process to address the challenges of high salinity and dificult biodegradation. The treated efluent meets the most stringen standard (GB 16889-2024) before discharge to the sewer network.

Yongkang Power Plant – Leachate Treatment

Applying a proprietary high-ammonia-nitrogen and heavy-metal wastewater treatment technology developed in-house, combined with the Disc Tube Reverse Osmosis (DTRO) process, the project efectively addresses the treatment challenges of high-ammonia-nitrogen and heavy-metal leachate from the waste landfill.

Linjiang, Yongfeng, Ningjin and Other Power Plants – Leachate Treatment and Recycling

At WtE incineration projects including the Linjiang Power Plant, Yongfeng Power Plant, and Ningjin Power Plant, Weiming Environment Protection has constructed leachate treatment facilities to classify and collec leachate, domestic sewage, initial rainwater, and other efluents for separate treatment. The quality of treated efluent consistently meets the Standard for Water Quality of Urban Wastewater Recycling – Industrial Water, and all treated water is reused for plant greening, road spraying, and industrial cooling, achieving zero liquid discharge (ZLD).

Environmental benefits: Fresh water resources are conserved, the risk of leachate discharge is eliminated, and the aquatic ecological environment is protected. Energy consumption is also reduced through recycling, contributing to coordinated carbon emission reductions. These projects provide a replicable model for closedloop water resource management applicable to the development of "Zero-Waste City" initiatives.

Circular Economy

The Company strictly complies with the Law of the People's Republic of China on the Promotion of Circular Economy, and treats the "harmless disposal, waste reduction, and resource recovery" of municipal solid waste (MSW) as the core practice of its circular economy activities. All new construction, renovation, and expansion projects strictly comply with the contro targets applicable to major pollutant emissions, construction land use, and total water consumption within the relevant administrative regions, ensuring that business expansion is coordinated with the environmental carrying capacity of the region. At the same time, drawing on its professional technical expertise, the Company continuously optimises resource utilisation eficiency, systematically advances waste recovery and reuse, and minimises environmental and social impacts to the greatest extent practicable

During the Reporting Period, the Company's waste treatment business maintained steady growth. Its controlled projects recorded cumulative waste intake of 14.1321 million tonnes (of which municipal solid waste intake reached 13.4462 million tonnes), representing a year-on-year increase of 6.83%; grid-connected electricity generation reached 3.795 billion kWh, a year-on-year increase of 4.87%. In terms of project retrofitting and energy eficiency improvement, the Yongqiang Project's intelligent retrofitting initiative for the bottom ash resource utilisation pre-treatment line has been commissioned and is in operation; the Linjiang Project Phase II successfully achieved external steam supply, further enhancing the resource recovery processing capacity and synergy benefits of the environmental protection projects.

Biodiversity

Biodiversity Risk Assessment and Response

Weiming Environment Protection places great importance on addressing the challenges arising from ecosystem degradation and biodiversity loss, actively conducting risk identification, assessment, control, and disclosure activities, and continuously strengthening its capacity to respond to nature-related risks and build resilience. In the risk identification process, drawing on desk research, the Company conducted questionnaire surveys of its principal manufacturing bases for the first time to identify risk factors that may be present in the vicinity of operational sites.

Through questionnaire analysis, in conjunction with the latest trends and relevant literature, the Company compiled and reviewed a register of nature-related risks, formulated management strategies, and submitted these for review by the Strategy and ESG Committee of the Board of Directors. In parallel, the Company is progressively exploring the integration of naturerelated risks into its overall risk management process, and further extending this work into value chain risk management activities.

Industry Contribution to Biodiversity

Weiming Environment Protection has long conducted environmental education and public outreach activities as an important component of its fulfilment of social responsibility. Several of the Company's projects, including Linjiang Phase II, Yongqiang Phase II, and Jiashan Phase I, have been designated as open environmental facilities. These projects regularly conduct environmental open-day activities, providing local residents and students with a platform for learning about environmenta protection, leveraging the Company's professional expertise and facility resources to develop distinctive environmenta education bases, and continuing to disseminate environmental protection principles and raise public awareness of and participation in environmental protection.

Green Production and Consumption: Promoting Resource Conservation and Environmental Protection

Weiming Environment Protection actively promotes green production and consumption models. The Company's environmental protection projects have passed mandatory cleaner production audits. The Company's production and office buildings prioritise the use of green products, including energy-saving appliances, high-efficiency lighting products, water-saving fixtures, and green building materials. The Company promotes the formation of resource-conserving and environmentally sound modes of production and daily life, reducing the negative impacts on the ecological environment and advancing the coordinated development of the economy and the environment.

Ecological Protection and Restoration: Active Participation in Ecological Projects and Ecosystem Restoration

The Company actively participates in community tree-planting, water resource protection, and other environmental public welfare activities, and continues to advance the restoration of damaged ecosystems, contributing to improvements in regiona ecological environment quality. For example, the tree-planting activities organised by the Kunshan Power Plant in observance of Arbor Day not only enhanced the local environment but also strengthened team collaboration and environmenta awareness. Such actions contribute to the protection and restoration of biodiversity, providing better habitats and breeding environments for various species.

04

Collaboration and Co-creation: Achieving Shared Industry Success

★ Product Quality and Safety • Responsible Marketing ★ Customer Service Management • Data Security and Customer ★ Innovation-Driven Development • Privacy Protection • Intellectual Property Protection • Supply Chain Security

★ Product Quality and Safety

Product quality and safety are the cornerstone of the Company's survival and development, and a critical embodiment of its commitment to ESG principles and the fulfilment of its social responsibilities. The Company consistently upholds the guiding principle of "quality first, safety paramount," embedding quality and safety management throughout the full life cycle of product research and development, manufacturing, delivery, and operations and maintenance. Compliance requirements are strictly implemented to ensure stable product quality, controllable operational safety, and the protection of client rights and interests, employee safety, and the ecological environment.

Governance

Weiming Environment Protection regards product quality and safety as the lifeline of its development and upholds the principle of "precision and excellence, safety above all." In compliance with the Product Quality Law of the People's Republic of China, the Law of the People's Republic of China on Work Safety, and other applicable laws and regulations, the Company incorporates product quality and safety management into its ESG governance framework, establishes quality management and safety assurance systems, defines departmental responsibilities, and maintains a clear, accountable and collaborative mechanism to ensure safe and reliable products from research and development to delivery.

The Company has formulated quality management policies that define product standards and control processes, established a continuous improvement mechanism, regularly analyses quality issues, tracks corrective measures, and provides installation, commissioning, operations and maintenance support, and technical assistance through professional after-sales services, ensuring long-term safe, eficient and stable project operation.

Strategy

The Company adheres to the principles of "precision and excellence, safety above all," aligns product quality and safety with core business activities, and aims to provide clients with high-quality environmental protection products and services. It complies with applicable laws, regulations and industry standards, implements full-process quality and safety management, and balances product compliance, stability and client requirements

Strategic priorities include strengthening quality management, improving safety assurance, optimising improvement mechanisms, enhancing after-sales services, safeguarding market reputation and supporting sustainable development in line with the Company's action plan of "enhancing quality, improving eficiency, and delivering returns."

Short-term objectives

Continuously improve the first-time pass rate for core environmental protection equipment products; ensure the safe and stable operation of operational projects; and continuously improve client quality satisfaction.

Medium-to-long-term objectives

To become a quality and safety benchmark enterprise in the environmental protection and new energy sectors with a globally recognised level of excellence, achieving a position of leadership in product quality and safety management standards through technological innovation and management optimisation.

Management of Impacts, Risks and Opportunities

The Company implements quality and safety management across the full product life cycle, simultaneously reviewing management impacts, identifying core risks, and identifying development opportunities, forming a complete management closed loop.

Full-Process Quality and Safety Management

The procurement department has established clear supplier selection criteria, conducts regular supplier quality assessments, and strictly controls the procurement of raw materials and purchased components, ensuring stable product quality at source. For core raw materials used in new energy materials and environmental protection equipment, additional specialist screening and inspection mechanisms have been established to ensure that raw materials meet production requirements and client specifications.

Source Control, Establishing a Sound Quality Foundation

In-Process Management, Ensuring Product Compliance

The manufacturing department conducts incoming inspections of all materials, including raw materials, purchased components, sub-contracted components and auxiliary materials, and produces strictl according to design drawings and operating procedures, bearing responsibility for process quality. It work with the technical department on quality inspections, strengthens standardised site management, refines procedures, and rectifies quality and safety hazards to ensure outgoing products meet standards. The Company has established an ISO 9001-certified quality assurance system, while the Weiming Inspectio and Testing Centre uses advanced instruments to test dimensions, raw material composition and mechanical properties, supporting high-end equipment manufacturing.

Standards-Led, Strengthening Technical Support

As the department responsible for quality oversight, the technical department of the Equipment Group leads the establishment of the product quality management system, formulates inspection methods, standards and processes, and conducts final factory inspections to ensure compliance with nationa and industry standards. It also leads product design and development, embeds quality and safety principles at the design stage, and provides full-cycle technical support to resolve production issues and safeguard product quality.

Case

Equipment Group Conducts Dedicated Training to Strengthen Quality Management Capabilities

In November 2025, the Equipment Group invited a Zhejiang Keneng lecturer to deliver a 32-hour dedicated training programme on core quality management tools for approximately 20 participants from the Quality Control, Production, Process and other departments. Centred on the principle of "preventionfirst, data-driven," the training covered the five major quality management tools and seven methods, focusing on Advanced Product Quality Planning (APQP), risk management and tool interaction across the product life cycle.

Through this training, participants not only deepened their theoretical understanding but also gained a grasp of the logic for integrating these tools into day-to-day work, laying a solid foundation for the Company's transition in quality management from "reactive firefighting" to "proactive prevention."

Full-Cycle Follow-Through, Safeguarding Client Rights and Interests

A full-process management mechanism for product delivery has been established, with clearly defined delivery standards and acceptance processes. A specialist team is assigned to oversee product installation and commissioning, ensuring that delivered products meet client requirements. Drawing on a professiona after-sales service team, the Company provides clients with routine equipment inspections, maintenance, and fault-handling services, ensuring the long-term stable operation of projects.

Quality and Safety Impacts

Full-process quality and safety management generates positive impacts across multiple dimensions: for clients, it ensures stable product quality and safe use, enhancing client satisfaction and partnership retention; for the Company, it strengthens brand reputation, reduces quality and safety risks, and enhances market competitiveness; for the industry, it upholds the principles of high-quality development and drives improvements in product quality and safety standards across the environmental protection sector.

A robust quality and safety management system creates development opportunities for the Company: continuously optimising management processes and technical standards enhances the core competitiveness of products and expands domestic and international markets; reinforcing quality and safety reputation deepens long-term partnerships with core clients and drives sustained business growth; and consolidating management experience into a replicable quality and safety management model supports the Company's international development.

★ Customer Service Management

Customer service management is an important pillar of the Company's sustainable development, bearing on market reputation and business expansion while also contributing to the protection of client rights and interests and the developmen of a healthy industry ecosystem. Drawing on its three core business areas, the Company continuously optimises service processes, strengthens service capabilities, focuses on clients' core requirements, implements full-process services, and advances the coordinated development of the enterprise, its clients, and society.

Governance

The Company has incorporated customer service management into its ESG governance framework, established a comprehensive customer service management structure, clearly defined service responsibilities at each level, and formed a customer service management mechanism with clear accountability and eficient collaboration.。

The Company has defined the core directions and development plans for customer service management. Each business segment fulfils its customer service and project delivery obligations, ensuring comprehensive service coverage, traceable accountability, and orderly progress in customer service activities.

The Company has established a routine customer service communication and collaboration mechanism, coordinating internal resources across technology, operations and maintenance, and project management to form a fully closed-loop management process of "receive client request – internally coordinate and allocate resources – assign dedicated personnel fo implementation – provide feedback and follow up with client," ensuring that client requests are transmitted in a standardised manner and addressed eficiently. In addition, the customer service management mechanism has been refined, with clearly defined service processes, response standards, and service quality requirements for each step, and diverse client service channels established — including on-site service, written communications, online coordination, and dedicated account management — to provide clients with convenient and eficient service support. Client feedback and resolution mechanisms are strictly implemented to ensure that all client enquiries, suggestions, and requests receive timely and professiona responses and resolution, safeguarding clients' legal rights and interests.

Strategy

The Company adheres to a client-centred service philosophy, optimising its service strategy in line with business development needs, closely aligning customer service with core business activities, and providing professional services across the full life cycle of environmental protection projects

The service strategy focuses on four core directions: compliant project delivery, ensuring stable operations through service aligned with contractual terms and environmental standards; equipment delivery assurance, providing full-process technica support for environmental protection equipment clients; government–enterprise communication and coordination, aligning with regulatory and enterprise client needs to build sound collaboration; and overseas localisation services, adapting to loca laws and cultures to enhance overseas client experience.

With high-quality service at its core, the Company refines its service system and processes, improves professional capabilities, addresses client needs in environmental compliance, product quality and technical support, strengthens government– enterprise collaboration and industry partnership, optimises regional service resources, innovates service models, maintains client relationships, enhances market reputation, advances business expansion and sustainable development, and support its transition towards an international green technology services provider in line with the Company's action plan of "enhancing quality, improving eficiency, and delivering returns."

Management of Impacts, Risks and Opportunities

The Company conducts customer service activities across four core dimensions to ensure service quality and client satisfaction.

Compliant Project Delivery

The Company has built a full-process project delivery service framework covering solid waste treatment, environmental protection equipment and new energy materials. It defines delivery standards, processes and responsibilities, focusing on pre sales requirement alignment, in-project advancement and post-sales operations and maintenance support, forming a closed loop of "requirement identification – solution formulation – project implementation – O&M support" to ensure compliant delivery and meet clients' core requirements. Delivery processes are optimised for government, industry partner and oversea projects. In 2025, no material client complaints or delivery defaults occurred; the project delivery compliance rate reached 100%; client satisfaction remained high; multiple cooperation projects were signed; and the Company's regional market position was consolidated.

Weiming Environment Protection Provides Full-Process In-Project Delivery Services for the Longwan District Kitchen Waste Treatment Project, Wenzhou

In November 2025, the Equipment Group's Longwan Project team provided full-process in-project delivery services for the Longwan District Kitchen Waste Treatment Project in Wenzhou, a core support project for the city's closed-loop waste classification management. The team completed commissioning and environmental compliance testing under contractual terms, applied the "pretreatment + anaerobic digestion + resource utilisation" process, reported regularly to the owner and Housing Authority, supported acceptance preparations, achieved successful trial operation, met client and regulatory requirements, and gained recognition from the Wenzhou Municipal Housing and Urban-Rural Development Authority.

Service Model Innovation

The Company has optimised its customer service resource allocation, coordinating internal resources across technology, operations and maintenance, and project management to establish a regional service resource coordination mechanism that both meets the service requirements of multiple domestic regions and overseas projects, and improves regional service response efficiency and resource utilisation. Drawing on its core business advantages, the Company drives innovation in customer service models, expands into new scenarios such as comprehensive energy services, and provides clients with tailored and diversified service solutions, breaking through the boundaries of conventional services, enhancing custome service value, and advancing the Company's diversified business development. The successful launch of the innovative mobile steam supply service model has efectively addressed clients' clean energy needs, gained recognition from enterprise client and environmental protection authorities, and further strengthened the Company's market competitiveness.

Launch of the Linjiang Mobile Steam Supply Project of Weiming Environment Protection – Deepening Case Long-Term Client Partnerships

In December 2025, the Company's Linjiang mobile steam supply project was formally commissioned. The dedicated service team conducted thorough pre-sales surveys of enterprise clients' energy use scenarios in the vicinity of the project, precisely aligned with client requirements, and provided a tailored mobile steam supply solution to address the clean energy challenges arising from pipeline network non-coverage and environmental compliance needs. During the in-project phase, the project was brought to commissioning and a "heat express" delivery network was established, providing clients with full-process services including steam delivery and energy consultation, ensuring stable supply and efectively resolving clients' clean energy challenges. The project gained recognition from enterprise clients and environmental protection authorities, successfully expanded into a new comprehensive energy service scenario, and deepened long-term partnerships with clients.

Efficient Client Response

The Company has established a diversified client communication mechanism, maintaining efficient communication with government regulatory bodies, project owners, and industry partners through a variety of channels including on-site coordination, dedicated seminars, written correspondence, and online meetings, accurately aligning with client requirements and concerns. A closed-loop resolution mechanism of "receive client request – classify and register – assign dedicated personnel for handling – follow up with results" has been established, ensuring that all client enquiries, suggestions, and rectification requirements receive timely and professional responses and resolution, maintaining client trust and building sound government-enterprise and client partnership relationships, with continued improvement in client communication eficiency. In 2025, all client requests were responded to promptly and resolved through the closed-loop mechanism.

Weiming Environment Protection Fengxin Power Plant – Government-Enterprise Coordination for Case Eficient Response to Regulatory Requests, Closed-Loop Rectification to Enhance Compliance Standards

In March 2025, the Ecology and Environment Bureau of Fengxin County, Yichun City, Jiangxi Province, conducted a face-to-face enterprise assistance activity — "Us and Enterprises Together" — carrying out a full-process diagnostic review of the pollution prevention and control facilities and environmental risk control measures of Fengxin Weiming Environmental Energy Co., Ltd., and putting forward rectification recommendations. The Company's project team promptly received the regulatory body's requests, classified and registered them, and assigned dedicated personnel to manage the rectification. In parallel, the team liaised with the regulatory body on environmental policy learning and completed improvements to the environmental management records. Throughout the process, rectification progress was reported to the regulatory body and the project owner. All rectification measures were strictly implemented in accordance with requirements and all tasks were completed on schedule, enhancing the project's compliance operating standards. The outcome was recognised by the local ecology and environment authority and the projec owner, achieving closed-loop resolution of client and regulatory requests

Team Capability Development

The Company has established a tiered and categorised service team capability development system, conducting dedicated training and capability enhancement activities to strengthen the professional competence and service awareness of the service team. Service team configurations have been optimised and an overseas localisation service team has been formed to meet overseas project service requirements, providing strong talent support for the high-quality delivery of clien services, with overseas localisation service capabilities continuously optimised to ensure the smooth operation of overseas projects.

★ Innovation-Driven Development

Innovation is the core engine driving Weiming Environment Protection's commitment to sustainable development and the critical support for advancing the Company's high-quality development and cultivating new quality productive forces — serving both the Company's internal development needs of enhancing core competitiveness and sustaining business expansion, and its broader purpose of driving the upgrading of the environmental protection industry and contributing to the achievement of the "Dual Carbon" targets through technological innovation, balancing enterprise development with the creation of social value. In 2025, the Company deepened its integration of the overall strategy of "dual-engine development in solid waste treatment and new energy materials," focusing on the core directions of "low-carbon, intelligent, and resource-oriented," continuously increasing research and development investment, deepening industry-university-research collaboration, and accelerating the conversion of research outcomes, driving full-chain technology upgrading across its three business segments and achieving coordinated economic, environmental, and social benefits.

Governance

The Company has established a three-tier innovation governance framework of "decision-making – management – execution," defining innovation responsibilities at each level and forming an accountable, collaborative mechanism to ensure orderly progress. As the core decision-making body for research and development and innovation, the Technology Committee decides on major matters including overall planning, R&D directions, major science and technology projects, major technology and equipment acquisitions, and project initiation and budget approval for Company-level R&D projects, while guiding and overseeing R&D and innovation management across group companies. Technical management departments of each group company organise, coordinate, guide and oversee R&D and innovation development plans, annual implementation plans, group-level innovation projects, and the promotion and application of outcomes. Subsidiaries implement their respective R&D and innovation projects, establish project initiation approval processes and outcome registration records, and submit them to the relevant group technical management departments for centralised management.

The Company has formulated and strictly enforces its Research and Development and Innovation Management Measures, systematically regulating the standards for project initiation, research and development processes, outcome assessment, and incentive mechanisms. A multi-dimensional performance evaluation system has been established, incorporating the research outcome conversion rate and the degree of contribution to technological innovation into core assessments, providing dedicated awards to teams and individuals who achieve material technological breakthroughs, and ofering clear career development pathways and systematic training to stimulate innovation across all employees. In addition, an industry university-research collaboration platform has been built, with core technology research and development conducted jointly with universities and scientific research institutes to strengthen innovation support capabilities.

The Environment Protection Group has established a Technology Research Institute to assist the power plants under its management in reviewing major maintenance and retrofitting plans, conducting dedicated technical training, analysing and summarising issues afecting the economic performance of power plants, and working with the Equipment Group on design improvements to relevant equipment, and urging power plants to optimise the implementation of retrofitting measures. The Equipment Group has simultaneously advanced management system innovation, advancing the development of information systems for procurement and project management to improve internal management collaboration efficiency; and has refined the dynamic management of its qualified supplier database, carrying out optimisation and updates for more than 1,000 qualified suppliers and approximately 300 temporary suppliers, strengthening supply chain support capability through domestic substitution and centralised price negotiation.

Strategy

The Company has positioned innovation-driven development as its core development strategy, guided by the orientation of "focusing on core technologies, breaking through key bottlenecks, and driving the conversion of outcomes," and has defined four innovation directions, balancing technological advancement, industry applicability, and social value, supporting the Company's transition from "environmental protection equipment" to "core industrial equipment" and the expansion from its core environmental protection business into the new energy materials sector.

Core directions of the innovation strategy

Solid Waste Treatment Technology Innovation, optimise waste incineration, organic waste, sludge drying and leachate treatment to improve eficiency, resource recovery and power generation per tonne via retrofitting and digital operations.

• Environmental Protection Equipment Innovation, upgrade incinerators and flue gas treatment systems, and expand nickel metallurgy equipment R&D for internal supply and external sales.

• New Energy Materials Technology Innovation, advance laterite nickel smelting and lithium battery materials, strengthening the integrated "nickel ore – matte/intermediates – electrolytic nickel/battery materials" chain.

• Operational Model Innovation, use digital technologies to optimise project management, develop "green power + computing power," and unlock value from existing projects.

Pathways for implementing the innovation strategy

• Increase R&D investment to strengthen funding support.

Build a high-calibre R&D team to reinforce talent support.

• Deepen industry-university-research collaboration to integrate external innovation resources.

• Establish an "R&D – conversion – application – iteration" closed loop to accelerate innovation conversion and support the global low-carbon transition.

• Expand innovation businesses through AI cooperation with Longwan District, Wenzhou, and China Mobile Zhejiang (Wenzhou Branch), exploring intelligent computing centres at WtE projects.

Management of Impacts, Risks and Opportunities

The Company rigorously implements its innovation strategy, focusing on the four core areas of solid waste treatment technology, core environmental protection equipment, new energy materials, and intelligent operations to conduct innovation activities, drive the practical application of innovation outcomes, enhance core competitiveness, and contribute to industry technology upgrading and the achievement of the "Dual Carbon" targets

Solid Waste Treatment Technology Innovation

The company focuses on core areas such as municipal solid waste incineration, organic waste treatment, sludge drying, and leachate treatment, continuously advancing technological optimization and innovation to elevate solid waste managemen toward "high efficiency, environmental sustainability, and resource recovery." It has optimized incinerator combustion technology to address the characteristics of domestic municipal solid waste—high moisture content and low calorific value—thereby enhancing incineration eficiency; upgraded advanced leachate treatment processes to ensure complian emissions and water resource recycling; and implemented energy-saving upgrades for sludge drying technologies to reduce energy consumption while improving resource utilization rates. The Environmental Protection Group's Technology Research Institute oversees technical renovation management, reviews major overhaul and upgrade plans for power plants, provides technical training, collaborates with the Equipment Group to improve equipment addressing economic eficiency concerns, and ensures the effective implementation of optimizations, thereby continuously enhancing operational efficiency and economic performance

The Growth, Breakthrough, and Technological Innovation of China's WtE Incineration Industry – A Weiming Perspective

In July 2025, the 11th Symposium on MSW Incineration Treatment Technology and Equipment and the 1st ISWA Waste-to-Energy Conference (China) were held in Xi'an. Under the theme of "Global Development and Challenges in MSW Incineration," the conference brought together participants to explore innovative achievements and practical experience in the WtE incineration sector, establishing a platform for communication and collaboration for practitioners in the domestic and international MSW incineration treatment and waste-to-energy sectors, and effectively promoting the sharing of advanced technica experience and the deepening of collaboration.。

Vice President Cheng Wuliang of Weiming Environment Protection introduced the Company's more than 20 years of accumulated depth and core capabilities in technology research and development, precision operations, and equipment manufacturing, and reviewed the Company's journey alongside China's WtE incineration industry — from its early stages to a position of strength, moving from following to progressively taking a leading role in the industry. Weiming Environment Protection will continue to respond actively to the Belt and Road Initiative (BRI), bringing China's advanced WtE incineration technology, mature operational management experience, and rigorous environmental standards to international markets.

Core Environmental Protection Equipment and Other Equipment: Intelligent Innovation

Guided by "intelligence, efficiency and green development," the Company advances iterative R&D of environmenta protection and core industrial equipment. It has developed intelligent control systems for MSW incineration furnaces to enable real-time combustion monitoring and automatic adjustment, optimised flue gas treatment systems to achieve emissions exceeding EU standards, and expanded nickel metallurgy equipment R&D to support projects such as the Indonesia Jiaman Matte Nickel Project.

The Environmental Protection Division of the Equipment Group developed a sodium bicarbonate grinding mill, optimised the nickel-iron grinding mill, designed diaphragm pump check valves, slurry pumps and hard-seal ball valves, advanced agitator standardisation, and built agitator and pump test platforms. The manufacturing side completed skills competitions, established an inspection and testing centre, and conducted training. The Materials Division developed a fully automated crane robot, deployed the "Black Box" system at nearly 20 WtE plants in Zhejiang, breaking a technical monopoly, and obtained type test certification for prefabricated substation equipment.

During the Reporting Period

130 million RMB

R&D Expenses Invested

424 Invention Patent

All core technologies are fully owned with independentintellectual property rights, significantly enhancing equipment performance, manufacturing eficiency,andcustomized service capabilities. The 750-ton/day wide-rangecalorific value incinerator grate has been selected as ZhejiangProvince's first complete unit equipment, demonstratingleading innovation capability.

Weiming Yongqiang WtE Project – AI-Powered Crane Robot Applied to On-Site Scenarios

The AI-powered crane robot has progressively learned on-site scenario applications and has successfully achieved AI-enabled autonomous grasping and feeding operations. The robot continues to learn other on-site scenario applications, with the ultimate aim of achieving fully AI-enabled autonomous intelligent operations o the waste crane.

Drawing on its outstanding technical innovation and equipment research and development capabilities, the Equipmen Group was recognised as a "Specialized, Sophisticated, Distinctive and Novel" (SSDN) "Little Giant" enterprise by the Ministry of Industry and Information Technology, a National High-Tech Enterprise, and a Provincial Enterprise Technology Centre; three major science and technology projects under the Wenzhou Key Industrial Chain Innovation Alliance were approved; the Equipment Group was consecutively included in the Zhejiang Province Top 500 High-Tech Enterprises by Innovation Capabilit for 2024 and 2025; and in 2026 was listed as a shortlisted entity for the national major environmental protection technolog and equipment innovation task for "single-unit dual-tower / single-unit multi-tower coordinated operation devices" under the "take-the-flag" initiative, continuously consolidating its authoritative position in the industry.

New Energy Materials Technology Innovation

Drawing on its R&D strengths, the Company has accelerated its new energy materials business, focusing on laterite nicke ore smelting and lithium battery cathode materials, overcoming process bottlenecks and advancing commercialisation. The Indonesia Jiaman Matte Nickel Project progressed steadily, and the domestic electrolytic nickel project was commissioned, improving the industry chain. The Company optimises lithium battery new materials synthesis to enhance competitiveness. As at the end of the Reporting Period, 16 subsidiaries were recognised as National High-Tech Enterprises across environmental governance, high-end equipment manufacturing and new energy materials, demonstrating technology driven innovation and sustainable development momentum.

Weiming Shengqing Recognised as National High-Tech Enterprise

In January 2026, Zhejiang Weiming Shengqing Energy New Materials Co., Ltd. was recognised as a National High-Tech Enterprise following Zhejiang certification authority review, reflecting national recognition of its core technologies, proprietary intellectual property and innovation conversion, and bringing policy support and opportunities.

Weiming Environment Protection will continue innovation-led development, enhance competitiveness, serve the national green development strategy, and contribute to industrial progress and ecological civilisation.

Digital Operations Upgrade

The Company drives the deep integration of digital and intelligent technologies with production and operations, establishing a digital operations management platform that integrates production, operations and maintenance, and environmenta monitoring data across projects, enabling visualised and precision management. The Company has developed an intelligent operations and maintenance system for WtE incineration projects, achieving real-time monitoring of equipment operationa status, fault early warning, and remote operations and maintenance; is exploring the "green power + computing power" new operational model to develop value-added opportunities from green energy; and is optimising digital management of the supply chain to improve full-process eficiency.

Industry Enablement and Responsible Scientific Practice

Drawing on its advantages as a leading enterprise in the industry, the Company actively participates in the setting of environmental protection industry standards, driving industry technology upgrading through its own innovation practices. Throughout the full process of research and development and innovation, the Company consistently upholds scientific integrity and scientific ethics principles, embedding the concept of responsible innovation throughout the ful life cycle of technology research and development. The Company strictly complies with applicable national laws and regulations and industry standards, prioritises the use of clean production processes and renewable resources, and has established a rigorous ethics review mechanism, ensuring that innovation development is organically integrated with green environmental protection and social responsibility.

During the Reporting Period

the Company obtained two US patents for the first time. Since the Company's establishment, no violations of scientific integrity or ethics have occurred in any research and development or innovation activities, achieving the coordinated integration of environmental protection, social progress, and economic benefits.

On 28 May 2025, the Company successfully held the "Environmental Protection Industry Innovation and High-Quality Development Conference" in Wenzhou, further promoting industry technical exchange and innovation collaboration.

Intellectual Property Protection

In accordance with the Patent Law, Copyright Law and Trademark Law of the People's Republic of China and other applicable laws and regulations, the Company has established and continuously improves its intellectual property management system. It implements its Intellectual Property Management Measures, optimises full-process management of patented technologies, defines departmental responsibilities, refines life-cycle management from R&D and patent application to outcome conversion, and applies tiered patent management to prioritise core technology protection.

Intellectual Property Management Framework

Organise the formulation of intellectual property-related policies

Provide guidance, oversight, and inspection of the Company's intellectua property activities

Maintain intellectual property archives and records

Organise the formulation of implementation guidelines for intellectual property matters at subsidiaries

Provide guidance, oversight, and inspection of intellectual property activities at subsidiaries

Manage intellectual property archives of subsidiaries

Report intellectual property activities to the Head Ofice Legal Department

Subsidiaries of each group company, as the executing entities for intellectua property matters, are responsible for the development, application, registration, and filing of intellectual property

The Company has integrated the intellectual property principles of "respecting innovation and achieving shared success" into its day-to-day operations, established an intellectual property risk early warning mechanism, and conducts employee intellectual property training. These measures not only efectively protect the Company's own innovation outcomes but also play a positive role in safeguarding a sound intellectual property ecosystem within the industry

Intellectual Property Management Measures

Full life-cycle management

The full-process management mechanism from technology research and development and patent application through to outcome conversion is optimised; the responsibilities and authorities of each department are clearly defined; a tiered patent management system is established; and priority protection is applied to core technologies.

Risk early warning and contract management

An intellectual property risk early warning mechanism is established; intellectual property-related contract management is strengthened; and confidentiality obligations, intellectual property ownership, scope of licensed use, and liability for infringement are clearly set out in cooperation, commissioned development, and other contracts

Supplier management

Suppliers are required to provide "intellectual property and confidentiality commitments for transacted products," protecting the Company's innovation outcomes at source and safeguarding a sound intellectual property ecosystem within the industry.

System certification

The Equipment Group successfully passed the supervision and review of the intellectual property management system and has established a standardised management system in accordance with the Standard for Intellectual Property Management in Research Organizations (GB/T 29490-2013).

During the Reporting Period

Covering areas including boiler systems, steam turbine systems, automatic control systems, flue gas purification, resource recovery and utilisation, energy conservation and emission reduction, and other fields.

Responsible Marketing

The Company strictly complies with the Advertising Law of the People's Republic of China, the Copyright Law of the People's Republic of China, and other applicable laws and regulations. All promotional content is based on factual data; the use of absolute or superlative claims is prohibited; and the consistency and accuracy of external communications are ensured. In addition, a systematic external communications management framework has been established, with structured decomposition and classified management of the content communicated across different business areas, and through a clear responsibility matrix and tiered approval process, ensuring that all business departments complete the compilation, review, and publication of content on schedule and preventing the unauthorised disclosure of information. The Compan has also established a spokesperson management mechanism, with a designated list of spokespersons and clearly defined authorities and approval processes, ensuring that spokespersons communicate externally strictly within the established scope of content and responsibilities. During the Reporting Period, no administrative penalties were incurred as a result of violation of applicable laws and regulations relating to marketing, information publication, or labelling, and the Company's public credibility and brand reputation continued to improve.

Data Security and Customer Privacy Protection

Governance Framework

• The Company has established a tiered information security governance framework: an information security management body composed of senior management has been established, responsible for strategic decision-making and oversight; an information security working group comprising representatives from each group company and department has been formed, responsible for specific execution and coordination; and accessible channels for reporting information security issues have been established to ensure that all information security incidents are escalated through appropriate channels within the specified timeframe. In addition, the information security management responsibilities and implementation of each group company have been incorporated into the performance appraisal framework, and violations are penalised in accordance with the Employee Code of Conduct of Weiming Environment Protection, forming a closed-loop management mechanism.

Policy Development and Compliance Framework

• Weiming Environment Protection places great importance on data security and customer privacy protection. In strict compliance with the Cybersecurity Law of the People's Republic of China, the Data Security Law of the People's Republic of China, the Personal Information Protection Law of the People's Republic of China, and other applicable laws and regulations, the Company has also formulated internal policies including the Confidentiality Management System and the Information Security Management Measures, upholding the principles of legality, legitimacy, and necessity to ensure that the full process of information collection and use is secure and compliant. The Confidentiality Management System clearly sets out the scope of confidentiality, confidentiality measures, personnel requirements, and responsibilities, and strictly requires that the collection, storage, processing, disclosure, and use of the Company's and third parties' data and information are conducted in accordance with applicable law.

Implementation of Management Measures

• The Company actively implements management measures in accordance with its policies, constructing an information security protection system through the use of advanced technological means, strengthening employee education and training, conducting confidentiality inspections, and entering into confidentiality agreements in the context of specific business activities, providing robust safeguards for the information security interests of clients, employees, and the Company.

Data Compliance Management

In the course of its day-to-day operations, the Company has business requirements involving the collection and processing of personal information of employees, visitors, and business partners, encompassing scenarios including the collection and use of personal information, cross-border transfers, and the introduction of third-party commissioned processing. The Company conducts its business in strict compliance with the Data Security Law of the People's Republic of China, the Personal Information Protection Law of the People's Republic of China, the General Data Protection Regulation (GDPR) of the European Union, and other applicable laws and regulations of the relevant jurisdictions.

The Company conducts data compliance assessments in accordance with the requirements of applicable laws and regulations, covering matters including but not limited to the external provision of personal information and various systems and frameworks, with the assessment dimensions principally focused on the impact on the rights and interests of personal information subjects and the adequacy of the security protection measures adopted.

Supplier Information Security Management

• With the rapid development of its business, the Company's information security management boundary has extended to the upstream supply chain. The Company conducts regular supply chain information security reviews covering areas including information security organisation and policies, personnel management, physical security, data security, and information security incidents, identifying information security risks and providing guidance to suppliers on rectification and improvement.

In addition, the Company continuously conducts information security protection training for suppliers, providing information security-related training based on the Confidentiality Agreement and the Supplier Security and Confidentiality Notice, and conducting assessments accordingly.

Information Security Culture Development

The Company builds an information security culture system with participation across all employees through the improvement of policies, strengthening of implementation, and innovation of mechanisms. In terms of policy development, the Company requires employees in key positions to sign a Confidentiality Contract, requires staf at engineer level and above to sign more rigorous confidentiality agreements, and through annual information security training and assessments, continuously strengthens employees' security awareness and protective capabilities.

During the Reporting Period, the Company continued to conduct information security training and examinations, achieving a 100% coverage rate and examination pass rate for information security positions, effectively strengthening information security awareness across all employees. To genuinely enhance risk prevention and control capabilities, the Company organises company-wide phishing email tests on a monthly basis, using practical drills to help employees identify and guard against potential threats.

During the reporting period

the Company conducted data compliance assessment training and thematic training on personal information protection and other subjects for all employees and for personnel in specific positions.

Supply Chain Security

Supply Chain Management Framework

The Company has established and continues to refine fair, transparent, and clearly accountable supply chain management principles, implementing full life-cycle selection and dynamic management of suppliers and contractors. At the admission stage, primary focus is given to assessing their qualification compliance, business integrity, creditworthiness, and ESG performance, with preference given to partners whose values are closely aligned with those of the Company and who have a commitment to sustainable development. In the course of the partnership, supplier capabilities are enhanced and a resilient, eficient, and responsible industry ecosystem is built through regular reviews, performance assessments, and risk screening

Supplier Code of Conduct

Through the Supplier Integrity and Clean Business Commitment Letter, the Company systematically sets out the standards of conduct for suppliers in the economic, environmental, and social domains, driving the sustainable development of the supply chain:

Economic dimension

Suppliers are required to uphold the principles of honest and ethical business conduct, strictly comply with applicable laws and regulations and business ethics, and maintain fair market competition, contributing to the development of a healthy and transparent industry collaboration environment.

Environmental dimension

Suppliers are guided to strengthen environmental management throughout their full operationa process, promote clean production and pollution prevention, optimise resource utilisation eficiency, and actively advance the green and low-carbon transition, jointly building an environmentally responsible supply chain.

Social dimension

Suppliers are required to comply with applicable labour laws and regulations, protect employees legal rights and interests and occupational health, and prohibit all forms of forced labour and discrimination. Suppliers are also encouraged to actively fulfil their social responsibilities, engage in community welfare and social contribution activities, and achieve a coordinated enhancement o commercial and social value.

All suppliers, when conducting business with the Company or participating in related activities, must strictly comply with the terms of the commitment letter and the Company's supply chain management requirements, jointly contributing to the Company's sustainable development and to harmonious social and environmental progress.

Supply Chain ESG Full Life-Cycle Management and Continuous Improvement

Weiming Environment Protection has deeply integrated ESG principles into the full-process management of its supply chain. Through full life-cycle admission screening, dynamic monitoring, and an exit mechanism, the Company works with its suppliers to enhance the sustainability and resilience of the supply chain, contributing to environmental protection, socia progress, and economic sustainable development.

Admission Management

Establishing a Sound ESG Admission Gateway

At the supplier admission stage, the Company implements rigorous ESG admission standards to ensure that new partners demonstrate sound performance in environmental, social, and governance dimensions. The Company has formulated and implemented its Procurement Management System, systematically conducting credit reviews, environmental compliance assessments, and ESG evaluations in the tendering process, and carrying out comprehensive and rigorous qualification reviews of all new suppliers. When entering into business contracts, suppliers are required to sign the Supplier Integrity and Clean Business Commitment Letter, clearly establishing the integrity and clean business conduct standards to be observed during the course of the partnership, ensuring that both parties maintain a high degree of alignment with sustainable development principles.

Dynamic Monitoring

Continuous Tracking of ESG Performance

During the supply chain review and monitoring phase, the Company conducts regular ESG performance reviews and monitoring of principal suppliers in accordance with established high standards and rigorous processes, ensuring their continued compliance with the Company's requirements. Drawing on a risk analysis matrix, the Company carries out targeted document assessments and routine reviews to examine suppliers' actual performance in areas including environmental compliance, protection of employees' basic rights and interests, and standards of business ethics conduct. For issues identified in the course of reviews, the Company requires suppliers to formulate improvement plans, carry out timely rectification, and enhance their ESG performance. Through continuous tracking and improvement mechanisms, the Company not only drives suppliers to improve their sustainable development capabilities, but also promotes continuous enhancement of the sustainability and resilience of the entire supply chain, achieving shared growth and progress with supply chain partners.

Exit Mechanism

Maintaining Overall Supply Chain Qualityw

The Company has established a clear supplier exit mechanism to maintain the overall quality and sustainability of the supply chain. Where a supplier's ESG performance persistently fails to meet the Company's requirements, or where material violations are identified, the Company will, in accordance with the relevant policies, decisively activate the supplier exit mechanism and terminate its business relationship with that supplier. Through a rigorous exit mechanism, Weiming Environment Protection ensures that every partner in the supply chain adheres to highquality ESG standards, working together to continuously improve the overall performance and sustainable development level of the supply chain, setting a standard for the industry's sustainable development.

Complaints and Reporting

Open Channels for Stakeholder Oversight

Where stakeholders identify any supplier conduct in violation of the Supplier Integrity and Clean Business Commitment Letter, reports may be submitted through the following channels. In 2025, no reports of violations of the Supplier Integrity and Clean Business Commitment Letter were received.

Telephone：0577-58885652

Email：weiming\_zhuangbei@163.com

Supplier Capability Enhancement

Advancing Supplier Sustainable Development

The Company has formulated a comprehensive supplier assessment mechanism and management system, conducting training activities on a periodic basis, encouraging and supporting suppliers in improving their management standards and performance in areas including labour rights, environmental protection, health and safety, and business ethics, and enhancing their sustainable development capability. The Company plans to convene supplier conferences and invite experts to share environmental, social, and governance requirements and the latest regulatory standards, ensuring that the supply chain meets international standards.

During the reporting period:

6,439

6,297

Total number of suppliers

Number of supplier in Mainland China

142

Number of overseas suppliers

100_% %

Coverage rate of reviews of key suppliers

Conflict Minerals Management: Delivering on the Commitment to Responsible Procurement

Against the backdrop of an increasing global focus on sustainable development in business environments, Weiming Environment Protection places great importance on the seriousness of the conflict minerals issue and its potential social, economic, and environmental impacts. The Company places great importance on the sustainable development of its supply chain, strictly complies with applicable international and domestic laws and regulations — including the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Afected and High-Risk Areas and the Guidelines for Responsible Mineral Supply Chains in China — and is committed to maintaining the transparency and compliance of the mineral supply chain. The Company will progressively improve its conflict minerals management policies and due diligence mechanisms, advancing responsible procurement of mineral resources. Through investigating supplier documentation regarding the origins of relevant minerals, the Company enhances supply chain transparency, ensures that mineral sources are lawful and compliant, and pledges not to procure or use conflict minerals, contributing to the sustainable development of the industry.

05

Creating Value and Contributing to Society

Rural Revitalisation

Social Contribution

Rural Revitalisation

Weiming Environment Protection actively responds to the national rural revitalisation strategy and, drawing on its comprehensive advantages in capital, technology, and resources, is deeply involved in rural economic development, improvement of the ecological environment, and enhancement of people's wellbeing. To date, the Company has carried out a series of public welfare projects — including poverty alleviation, educational support, care for the elderly, and assistance for those in hardship — in areas including Nanchong City in Sichuan Province, the Aba Tibetan and Qiang Autonomous Prefecture, Chenzhou City in Hunan Province, and Jinhua City and Wenzhou City in Zhejiang Province, taking concrete action to promote social harmony and making a positive contribution to rural revitalisation

Anchoring the Direction for Rural Revitalisation

Strategic Guidance

The Company has embedded rural revitalisation into its CSR strategy, leveraging industrial development and public welfare to address infrastructure, ecological governance, and livelihood needs in less-developed areas. It advances sustainable rural growth through industrial presence, job creation, and public welfare initiatives.

Activating the Endogenous Drivers of Rural Development

Industrial Enablement

Leveraging its environmental protection expertise, the Company has deployed rural projects that upgrade local infrastructure, develop green industries, create jobs, and boost economic vitality. Through technology transfer and knowledge sharing, it also helps rural areas build green, low-carbon development models, fostering a virtuous cycle of ecological protection and economic growth.

Activating the Endogenous Drivers of Rural Development

The Company conducts diverse public welfare activities focusing on education, healthcare, and elderly care. Through educational donations, medical assistance, and hardship relief, it addresses the most pressing needs of rural residents. Through targeted aid and financial support, it continues to back rural development, demonstrating its social responsibility and commitment.

Weiming Environment Protection Conducts Charitable Public Welfare Activities in Wencheng Xikeng She Ethnic Township, Wenzhou

In October 2025, Weiming Environment Protection participated for the third consecutive year in the "Doing Good in Wenzhou" charity banquet in Jianxialiao Village, Wencheng County, donating to local left-behind children and disadvantaged university students under the theme "Caring for the She Ethnic Hometown."

The Company consistently integrates philanthropy into its sustainable development, focusing on education, rural communities, and hardship assistance to actively fulfill its social responsibilities and deepen community engagement. Going forward, Weiming Environment Protection will continue upholding its philanthropic principles and contributing to social development through responsibility and commitment.

Social Contribution

Over many years, Weiming Environment Protection has maintained a sustained and deep commitment to the field of socia welfare. In strict accordance with applicable laws and regulations, including the Charity Law of the People's Republic of China and the Law of the People's Republic of China on Donations for Public Welfare Undertakings, the Company has formulated and implemented governance measures such as the Donation Management Measures, establishing a standardised, systematic, and sustainable social contribution management framework.

Guided by the principle of contributing to society and creating shared value, the Company integrates social responsibility into its business development practices through public welfare activities, volunteer services, and charitable donations across multiple dimensions, making sustained contributions to social development and demonstrating the Company's sense of responsibility and its value in this era through concrete action

Yuhuan Power Plant Voluntary Blood Donation Activity Conveying the Warmth of Life, Practising Social Responsibility

On New Year's Day 2025, the Yuhuan Power Plant organised a volunteer activity under the theme of "Warm Blood in Winter for New Year's Day, Voluntary Blood Donation to Welcome the New Year," taking concrete action to practise corporate social responsibility. During the activity, employees actively participated — including a number of first-time blood donors — giving full expression to the Company's employees' spirit of dedication and care for society.

The activity not only provided valuable support for medical blood supply, but also promoted the volunteer spirit of "humanity, love, and dedication" within the enterprise, guiding employees to integrate social responsibility into their day-to-day actions and turning everyday acts of goodwill into practical support fo social progress, demonstrating Weiming Environment Protection's sense of responsibility and its commitmen to social welfare.

On 12 March 2025, the Dongyang Power Plant organised all employees to conduct a tree-planting activity in the area surrounding the plant. At the event, employees proactively adopted saplings and attached adoption placards, taking practical action to add greenery to the plant's surroundings. The activity not only enriched employees practical experience in environmental protection but also contributed to the development of a "green power plant" and a harmonious employee community.

"3·15" in Action: Wuyuan Power Plant Participates in Centralised Destruction of Counterfeit and Substandard Products

On 15 March 2025, the Wuyuan Power Plant cooperated with the County Tobacco Monopoly Bureau and Market Supervision Administration to conduct centralised harmless disposal of over 10,000 cartons of counterfeit cigarettes (valued at over RMB 1 million). The process strictly followed statutory procedures with full video documentation to ensure lawful, compliant, and thorough disposal

The Plant consistently upholds its social responsibilities, proactively cooperating with government authorities in anti-counterfeiting and market order maintenance to safeguard consumer safety, promote honest business conduct, and foster a secure market environment

Environmental Facility Public Open-Day Activity Held at Rui'an Power Plant

On 16 March, the Rui'an Power Plant hosted the "Green Living Room Series – Inviting You to See Environmenta Protection" public open day with the Rui'an Environmental Volunteers Association to promote green and lowcarbon principles.

Plant staf led visitors through key areas including the crane and central control rooms, explaining the waste treatment process, core equipment operations, and addressing public environmental concerns. Through immersive observation, visitors gained a comprehensive understanding of WtE incineration technology and environmental outcomes, experiencing first-hand the achievements of coordinated green energy and ecological protection development.

Environmental Facility Public Open-Day Activity Held at Kaili Power Plant

In June 2025, at the "June 5th Environment Day" environmental facility public open-day activity organised by the Qiandongnan Prefecture Ecology and Environment Bureau, the Kaili Power Plant welcomed more than 70 environmental volunteers including teachers, students, and parents from Kaili City No. 4 Primary School. Under the guidance of explainers, volunteers successively visited core areas of the plant including the pollutant discharge public disclosure board, the plant scale model, the central control room, the steam turbine generator, the waste crane operating room, and the wastewater treatment facilities, gaining a close-up understanding of the full process of municipal solid waste treatment.

Through on-site visits and professional explanations, visitors gained an intuitive appreciation of the environmental value and technological innovation of WtE incineration, and a profound understanding of the importance of resource recovery, utilisation, and harmless disposal of municipal solid waste. This open-day activity further enhanced public awareness of and trust in environmental protection infrastructure, efectively disseminated ecological and environmental principles, and contributed to the formation throughout society of a positive atmosphere of understanding, supporting, and participating in environmental protection.

06

People First: Building a Fulfilling Workplace

• Employment and Diversity

Employee Rights and Benefits★

Talent Development★

Occupational Health and Safety★

Employment and Diversity

Weiming Environment Protection upholds the core value of placing people first and integrates people-oriented principles into the full process of human resources management, aiming to strengthen employees' sense of identification with and belonging to the Company, and to enhance their loyalty, advancing the joint development and growth of employees and the Company. The Company strictly complies with the Labour Law of the People's Republic of China, the Labour Contract Law of the People's Republic of China, the Social Insurance Law of the People's Republic of China, and other applicable laws and regulations, and proactively benchmarks against international initiatives and standards including the Universal Declaration of Human Rights, the Core Conventions of the International Labour Organization, and the United Nations Guiding Principles on Business and Human Rights, integrating advanced international principles into localised management practices and establishing a comprehensive labour rights protection framework.

Standardised Employment Management: Building a Solid Foundation for Rights Protection

Weiming Environment Protection has established comprehensive HR policies covering recruitment, remuneration, performance, training, attendance, transfers, and resignation to standardize operations and protect employee rights. The Group continuously refines HR management, recently revising subsidiary HR systems to optimize authority allocation and improve compliance across recruitment, resignation, transfers, attendance, training, career development, and benefits. Additionally, the Equipment Group updated attendance and leave regulations with streamlined approval workflows and a digital system, enhancing both management eficiency and employee convenience in line with its people-centred philosophy

Fostering a Diverse Culture and Building an Inclusive Development Environment

Weiming Environment Protection regards diversity and inclusion as an important cornerstone of corporate culture development, and is committed to creating an equal, fair, and discrimination-free working environment for employees and fostering a corporate atmosphere of mutual respect, openness, and inclusion. Through the Employee Handbook, the Company has clearly stipulated that any form of discrimination or unfair treatment is strictly prohibited — covering but not limited to gender, ethnicity, age, religion, belief, and disability — and through institutionalised and ongoing management mechanisms, ensures that the legal rights and interests of every employee are fully protected.

Compliance and Sound Management Foundations

The Company enters into written labour contracts with all employees in accordance with applicable law, firmly opposes any form of discriminatory conduct, prohibits the employment of child labour, prohibits forced labour, and is committed to providing a fair, just, and inclusive working environment for every employee. Through the regular conduct of internal compliance reviews, the lawfulness and standardisation of employment management are continuously strengthened. During the Reporting Period, no incidents of employee discrimination, child labour employment, forced labour, or violations of applicable labour laws and regulations occurred.

Awareness-Raising and Culture-Building

Through the regular conduct of diversity training and educational activities, the Company continuously enhances all employees' awareness and acceptance of a diverse and inclusive culture. Equal communication and exchange among employees is encouraged, a sound employee feedback mechanism is established, and employees are able to express their views and suggestions freely. The Company has also established independent anonymous feedback channels to ensure that employees who experience discrimination or unfair treatment can raise concerns safely and conveniently.

Continuous Improvement and Culture Embedding

The Company regularly conducts internal surveys and assessments, reviewing the implementation effectiveness of the diversity and inclusion culture. Based on survey results, relevant management strategies are adjusted in a targeted manner, ensuring that the diversity and inclusion culture is deeply embedded in the Company's day-to day operations. Through these measures, the Company not only effectively improves employees' satisfaction and loyalty, but also strengthens the Company's overall cohesion and core competitiveness.

2025 Employee Profile

★ Employee Rights and Benefits

Employees are central to Weiming Environment Protection's sustainable development. The Company consistently upholds the remuneration philosophy of "externally competitive and internally equitable," adheres to the core principle of placing people first, and strictly complies with the labour laws and regulations applicable in the jurisdictions in which it operates. The Company is committed to establishing a scientifically sound remuneration management system, diverse and accessible communication mechanisms, and a supportive workplace culture, genuinely safeguarding employees' legal rights and interests, fostering an open, transparent, and harmonious working atmosphere, and advancing the shared development of employees and the Company.

Governance

The Company has established an employee rights and benefits governance framework with clear accountability and eficien operations, providing robust institutional and organisational safeguards for the protection of employee rights and interests

The Board of Directors and senior management place great importance on employee rights protection. The Human Resources Department is responsible for overseeing the management of remuneration and benefits, labour relations, employee communication, and employee care, with each business department cooperating in fulfilling its employee rights protection responsibilities, forming a governance structure of "group-level coordination, tiered responsibility, and full participation."

Institutional Framework

Institutional documents including the Remuneration Management System, the Employee Benefits Management Measures, the Employee Appeals and Complaints Handling Measures, and the Employee Communication Management Regulations have been established and continuously refined, setting out the standards, processes, and responsibilities for the protection of employee rights and interests, and ensuring that all activities operate in a standardised and systematic manner.

The Company strictly complies with the Labour Law of the People's Republic of China, the Labour Contract Law of the People's Republic of China, and other applicable laws and regulations, standardising the management of labour contracts, remuneration payment, and social insurance contributions, ensuring that the protection of employee rights and interests is lawful and compliant.

Strategy

The Company has deeply integrated employee rights and benefits into its corporate sustainable development strategy, establishing a "fairness, incentive, and care" integrated employee value framework centred on the protection of employee rights and interests, to support the Company's long-term stable development.

Strategic Positioning

The protection of employee rights and interests is regarded as the cornerstone of the Company's sustainable development. Through scientifically designed remuneration incentives, comprehensive benefits protection, diverse communication mechanisms, and genuine employee care, the Company enhances employees' satisfaction, sense of belonging, and loyalty, and strengthens corporate cohesion and core competitiveness.

Development Objectives

Centred on the core directions of "equitable incentives, comprehensive protection, diverse communication, and genuine care," the Company continuously optimises its remuneration and benefits framework, refines employee communication mechanisms, and enriches employee care initiatives, building an employee rights protection framework that is competitive within the industry, and achieving the coordinated enhancement of employee and corporate value.

Whole-Company Participation

Adhering to the principle of placing employees first, the Company combines the protection of employee rights and interests with employees' individual development, encourages employees to actively participate in enterprise management and decision-making, stimulates employees' intrinsic motivation, and advances the joint development of employees and the Company.

Management of Impacts, Risks and Opportunities

Through a scientifically designed remuneration and benefits framework, diverse communication mechanisms, and genuine employee care practices, the Company genuinely safeguards employees' legal rights and interests, while converting employee rights protection into the core driving force of the Company's sustainable development, achieving the coordinated enhancement of individual and corporate value

• Scientific Remuneration and Benefits Framework: Safeguarding Employee Value Returns

The Company has established a diversified remuneration and benefits structure of "fixed + variable + benefits," adhering to the principle of "standardised assessment and precise incentivisation," ensuring that employees receive returns commensurate with their work contributions.

Remuneration Structure

• Employee remuneration comprises base salary, performance-based pay, overtime pay, bonuses, and various benefits allowances. Through a a of annual assessments and day-to-day performance assessments, the Company scientifically evaluates employee performance and distributes performance bonuses and year-end bonuses based on assessment outcomes. The Company continuously optimises the salary adjustment mechanism, providing multiple channels including salary adjustments upon level promotions, salary adjustments upon academic qualification improvements, and across-the-board salary adjustments, ensuring that remuneration allocation is closely linked to employee contributions.

Incentive Mechanisms

• Innovative management models such as the employee partnership programme are implemented, encouraging employees to regard their work as their own career and to share in the profits and market value returns generated by the Company's performance improvement. In addition, through share incentive schemes, performance awards, and other means, employees' motivation and creativity are stimulated advancing the Company's sustainable development.

Benefits and Protection

• Mandatory social insurance and housing provident fund contributions (the "Five Social Insurances and One Fund") are made in full in accordance with applicable laws — covering pension, medical, unemployment, work injury, and maternity social insurance, and housing provident fund - with paid annual leave, employee health check-ups, holiday condolences, group activities, and birthday celebrations also provided. Additional benefits include statutory public holidays and paid leave, daily welfare (complimentary lunch and fruit, traditiona festival gifts or vouchers), and overseas project benefits (enhanced salary standards and relevant allowances, travel allowances, and overseas allowances).

Diverse Communication and Appeals Mechanisms: Listening to Employees and Safeguarding the Expression of Concerns

The Company listens to employees, addresses employees' dificulties, and fosters an open, transparent, and harmonious working atmosphere through diverse communication channels and mechanisms

Communications and Dissemination

• Company publications, websites, notice boards, and other communications media are fully utilised to disseminate corporate culture and core values, strengthening employees' sense of ownership and belonging. Each department has designated at least one correspondent, responsible for collecting relevant information and publishing it through the Weiming Report and the OA office system, promoting internal information sharing and exchange. Notice board content is also updated on a regular basis to ensure that employees are kept promptly informed of important Company information and policies, fostering a positive communications environment.

Two-Way Communication

• Employee suggestion boxes are set up, encouraging employees to put forward suggestions on matters including management, technical improvements, daily life and logistics, and recreational activities. The Human Resources Department collects and addresses suggestions on a weekly basis, and rewards constructive suggestions. A problem resolution mechanism has been established: employees encountering dificulties may report these to their department heads; where issues cannot be resolved at that level, employees may submi written reports to the President's Ofice for handling, and may submit complaints regarding unjust treatmen directly to the President's Mailbox. Regular employee satisfaction surveys are conducted to gather employees views on matters including the Company's management, benefits, and career development, with results published and responded to, continuously improving management practices.

Face-to-Face Communication

• Staff forums are convened on a regular basis, inviting employee representatives to engage in face-to-face discussions and to share their views on the working environment, career development, and remuneration and benefits

During the reporting period

the Company collected and addressed more than ten employee suggestions through such forums, genuinely enhancing employees' sense of participation and satisfaction.

Appeals and Complaints

• Appeals and Complaints: Diverse complaint channels have been established, including an anonymous hotline, an online feedback platform, and a dedicated review committee, enabling employees to safely report issues related to employment, remuneration, rest and leave, and occupational health and safety. Complaints must be truthful, with fabrication or malicious exaggeration strictly prohibited. The Human Resources Departmen registers and reviews complaints, assigns investigators to complete inquiries within 7 working days, and upon completion reports to senior management with handling recommendations, providing feedback to complainants and relevant departments. Named reports receive verified findings; anonymous reports are followed up without direct response.

Employee Care: Creating a Supportive Working Environment

The Company is committed to creating a working environment that supports employees' wellbeing, enhancing employees sense of belonging, satisfaction, and identification with the Company through diverse care initiatives and cultural activities.

Day-to-Day Care

• The Company pays attention to employees' physical and mental health and quality of life, providing diverse day-to-day care services, including festive activities (themed cultural activities for traditional festivals such as evening gatherings and Mid-Autumn Festival dinners, along with festival gifts and condolence payments), interest clubs (employee interest clubs for activities such as basketball, badminton, and billiards, along with team competitions), and health care (annual health check-ups, psychological counselling services, and health talks).

March 2025

Kunshan Power Plant "Women's Day" Care Activity

On 7 March 2025, during the period of International Women's Day (8 March), the Kunshan Power Plan organised a series of care activities for female employees, with the aim of enriching their cultural life. The Company presented female employees with thoughtful gifts and flowers, organised group dining and exchanges, and arranged a film screening, enabling everyone to relax in a light and enjoyable atmosphere. The activity both strengthened a sense of occasion and enabled employees to genuinely appreciate the supportive environment of the corporate community, further enhancing employees sense of belonging and wellbeing.

Pan'an Power Plant Spring Outdoor Activity

In order to enrich employees' leisure life and strengthen team cohesion, from 22 to 23 March 2025, the Pan'an Power Plant organised employees to take part in a spring outdoor activity. The activity included collaborative games to promote integration between new and established employees and to strengthen team rapport; activities to practise the "no-trace spring outing" concept, including litter collection and waste classification, conveying the Company's environmental principles; and a "plant exploration" activity to deepen employees' awareness of ecological protection. The activity relieved employees' work pressure, genuinely enhanced employees' sense of belonging and team cohesion, and demonstrated the Company's employee care principles.

multiple staf forums were held, with employee satisfaction reaching

Weiming Shengqing held its inaugural employee basketball tournament, using sporting competition to display employees' competitive spirit, build a bridge for cross-department exchanges, enrich employees leisure life, and support corporate culture development.

Linjiang Power Plant "Summer Cool Relief" High-Temperature Condolence Activity

On 29 May 2025, the Linjiang Power Plant continued its traditional "Summer Cool Relief" care activity. In advance of the arrival of high-temperature weather, the plant delivered cooling supplies, towels, insect repellent, and other heat prevention materials to frontline drivers of sanitation vehicle fleets, expressing care and respect for employees working in high-temperature conditions, and reminding them to take good care of themselves and guard against heatstroke. The Company consistently pays attention to the physical and mental health of employees working outdoors, taking concrete action to safeguard employees' safety and health during summer operations, further reinforcing the foundations of work safety.

the Longnan Power Plant held its inaugural tug-of-war competition, enriching employees' leisure life, strengthening team cohesion and the spirit of collaboration, and demonstrating employees' spirit of unity and dedication.

Overseas Employee Care

To safeguard the legal rights and interests of overseas employees, the Indonesian plants have implemented a series of employee-oriented measures. In terms of cultural respect, employee canteens conforming to Indonesian dietary customs have been established, with full respect given to local religious beliefs and lifestyle practices. In terms of festival benefits, festival benefits or leave arrangements are provided in accordance with local customs and labour regulations. In terms of communication mechanisms, a communication and liaison team has been established and a fair democratic communication and appeals mechanism introduced, ensuring that overseas employees rights and interests are fully respected and protected.

Value Impacts and Opportunity Conversion

Employee Value

Through scientifically designed remuneration incentives, comprehensive benefits protection, diverse communication mechanisms, and genuine employee care, employees' legal rights and interests are genuinely safeguarded, employees' satisfaction, sense of belonging, and loyalty are enhanced, and a broad platform is provided for employees to realise their individual value.

Corporate Value

A stable workforce and a positive employee environment provide core support for improvements in the Company's operational eficiency, technological innovation, and market expansion, reducing the risk of talent attrition and strengthening the Company's risk resilience and sustainable development capability.

Industry Impact

The Company's practical experience in protecting employee rights and interests provides a replicable model for the environmental protection industry, driving the overall improvement of employee rights protection standards across the industry and contributing to high-quality industry development.

During the reporting period

Targets

Continuously optimise the remuneration and benefits framework, explore more competitive incentive mechanisms, and ensure that employees receive returns commensurate with their contributions.

Further refine employee communication mechanisms, enhance employees' sense of participation and satisfaction, and maintain employee satisfaction at 95% or above.

Enrich employee care initiatives, expand the coverage of overseas employee care, and genuinely safeguard overseas employees' legal rights and interests.

Future Targets and Commitments

Continue to standardise appeals and complaints handling processes, ensuring that employee concerns are addressed fairly, impartially, and promptly.

Continue to increase investment in employee rights protection, incorporate the effectiveness of employee rights protection into departmental and senior management performance appraisals, and drive continuous improvement in employee rights protection activities.

★ Talent Development

Talent is the core strategic resource enabling Weiming Environment Protection to achieve technological innovation, industria upgrading, and sustainable development. The Company consistently places talent development as a priority, and, drawing on the "1+3+N" group management and control model, has established a talent development ecosystem covering all employees throughout the full career cycle. Through diversified development pathways and a systematic capability enablement framework, the Company drives the aligned advancement of employee growth and the Company's strategic objectives, building a solid talent foundation for the Company's long-term competitiveness in the environmental protection sector.

Governance

The Company has established a talent development governance framework with clear accountability and eficient operations, providing a robust institutional foundation for the implementation of talent strategy.

The Board of Directors and senior management have incorporated talent development into the Company's overall strategy. The Human Resources Department is responsible for overseeing the development of the talent cultivation framework, the implementation of training plans, and the management of career development, with each business department cooperating in fulfilling its talent development responsibilities, forming a governance structure of "group-level coordination, base-leve implementation, and full participation."

Institutional documents covering employee training management, career development management, and internal trainer management have been established and continuously refined, setting out the standards, processes, and responsibilities for talent development, and ensuring that talent development activities operate in a standardised and systematic manner.

The Company continues to increase its investment in talent development, ensuring adequate allocation of training funds, teaching resources, and learning resources to provide robust support for employee growth.

Strategy

The Company has deeply integrated talent development into its corporate sustainable development strategy, driving business innovation and transformational upgrading through talent advantages

Drawing on the "1+3+N" group management and control model as the foundation, the Company has established a full-cycle talent management system of "select, develop, deploy, and retain," focusing on the development of core talent and building a high-calibre and professional workforce to support the Company's long-term development in the environmental protection sector.

Aligned with the Company's strategic objectives, the core directions for talent developmen have been clearly defined, including enhancing senior management's strategic decision-making capabilities, strengthening professional and technical staf's innovation capabilities, and developing frontline employees' position competency. Through tiered and categorised talent developmen plans, the Company achieves precise alignment between talent structure and business development

Adhering to the principle that "everyone has the potential to succeed and everyone can give ful play to their talents," the Company combines talent development with employees' individual career planning, stimulating employees' intrinsic motivation for proactive growth and advancing the join development of employees and the Company.

Management of Impacts, Risks and Opportunities

Through diversified talent development practices, the Company efectively enables employee growth while converting talent advantages into the Company's core competitiveness, achieving the coordinated enhancement of individual and corporate value.

Diversified Career Development Pathways: Unlocking Employee Potential

The Company has established a dual-track development framework encompassing management and professional pathways, providing employees with clear career development routes. In accordance with the nature of positions and employees individual characteristics, career advancement tracks including management positions, skills positions, and technical positions have been established, ensuring that every employee can find a development direction suited to their individua circumstances. The Company adheres to the principles of fairness, openness, objectivity, and impartiality; an appraisa committee conducts periodic comprehensive assessments of employee performance, determines level promotions, removes barriers to career advancement, and stimulates employees' drive to grow.

Systematic Training Framework: Enabling Employee Growth

For different employee groups — including senior managers, middle managers, frontline managers, core employees, al employees, and new employees — the Company has established development pathways appropriate to their current stage and future objectives, continuously optimises its tiered and categorised training framework, and provides employees with diferentiated and personalised learning experiences through a rich curriculum and diverse training programmes, promoting the continuous progress of every employee

Internal Trainer Development

Internal employee trainers are carefully selected and developed; through systematic training and incentive mechanisms, the accumulation, codification, and sharing of effective internal working methods and experience are promoted.

Reserve Management Talent Development

Through internal leadership instruction, external expert guidance, and on-site study visits, the comprehensive capabilities and strategic vision of management talent are enhanced.

External Collaboration and Resource Integration

Cooperation with universities, scientific research institutes, and leading industry enterprises is strengthened; through the engagement of external experts, project cooperation, and joint research and development, internal innovation talent is developed and employees' professional standards and overall competence are enhanced.

Full-Cycle Training Design

For employees at different stages-including onboarding, on-the-job development, promotion, and professional advancement -diversified training resources are provided, combining internal general skills training, external specialist training by third-party organisations, and guidance by both internal and external experts. 1

Equipment Group Conducts Dedicated Training on Team Management and Safety Management

In May 2025, the Equipment Group conducted a dedicated training session on "employee growth-oriented team development" at the Dushan Plant, with a special invitation extended to a lecturer from the Wenzhou Federation of Trade Unions Cadre School to deliver instruction on the two themes of team management and safety management. The training combined theoretical explanation with case analysis, focusing on key content including grassroots team development and safety management, and systematically explained topics such as team leader role awareness, team development, performance management, and the implementation of safety responsibilities. The lecturer from the Wenzhou Federation of Trade Unions Cadre School noted that the trade union would continue to fulfil its bridging and coordination role, supporting the Company in building a safe and efficient grassroots management framework. This training further enhanced the comprehensive capabilities and safety management awareness of frontline management personnel, strengthened the collaborative interaction between the Company and the trade union, and provided strong support for the Company's efforts to build a learning organisation, consolidate talent pipeline development, and advance high-quality development.

Minqing Power Plant Conducts Q2 Technical Specialist Training

In April 2025, the Minqing Power Plant held its first Q2 technical specialist training session, with experienced head ofice instructors providing on-site theoretical and practical guidance. Covering assistant operator certification criteria and equipment operations and maintenance challenges, the batch-based training targeted the Production Technology Department, rotating shift personnel, and management staff to ensure simultaneous production operations and capability development. The curriculum aligned with main operator skill certification, incorporating topics such as intelligent control system optimization, and applied a "technology input plus on-site coaching" model to strengthen localized talent development. This training efectively enhanced employees' professional skills, and the Company will continue consolidating technical and talent foundations for high-quality development through its dualtrack "certification assessment and specialist training" mechanism.

Yongqiang Power Plant – Onboarding Interviews and Growth Monitoring for New Employees

In July 2025, in order to improve the full-cycle employee training framework, the Yongqiang Power Plant established a regular communication and growth assessment mechanism for new employees. The plant management office conducts regular face-to-face interviews with employees who have completed one month of service, gaining an understanding of their adaptation to the role, skills development, and challenges at work, and providing targeted guidance for their growth. The Yongqiang Power Plant has formalised new employee interviews and assessments as a routine activity conducted once every two weeks, strengthening skills instruction while also providing care and support, helping new employees to integrate quickly and improve steadily, achieving the goal of "learning effectively, stepping up capably, and staying committed," and further consolidating the full-cycle talent development framework.

Training Categories

Covering new employee training (three-level safety induction training, mentorship training, and concentrated training for fresh graduates), senior and middle management training (management rotation training and concentrated training fo management staf), day-to-day training (skills training, safety regulation training, and team training), and external training (various certification training and industry training), meeting employees' learning needs throughout the full career cycle

Case

Jieshou Power Plant Conducts Dedicated Skills Training on Boiler Tube Rupture

In March 2025, the Jieshou Power Plant organised a dedicated skills training session on boiler tube rupture incidents, focusing on systematic explanation of the basic structure of boilers, tube rupture phenomena, causes, and preventive measures, combined with analysis of emergency response procedures and key points for day-to-day monitoring using real case studies. Training participants discussed and exchanged views in connection with their actual work, further developing their skills in boiler tube rupture prevention and emergency handling. This training efectively enhanced the professional skills and emergency response capabilities of operations duty personnel, providing strong support for ensuring the safe and stable operation of the power plant's boilers, and continuously reinforcing the work safety line of defence.

Value Impacts and Opportunity Conversion

Employee Value

Through clear career development pathways and systematic training and capability enablement, employees' position competency, professional attainment, and career competitiveness are efectively enhanced, strengthening employees' sense of belonging, satisfaction, and loyalty, and providing a broad platform for employees to realise their individual value

Corporate Value

A high-calibre workforce provides core support for the Company's technological innovation, improvement of operational eficiency, and market expansion, reducing the risk of talent attrition and strengthening the Company's risk resilience and sustainable development capability.

Industry Impact

The Company's practical experience in talent development provides a replicable model for the environmental protection industry, driving the overall improvement of talent quality across the industry and contributing to high-quality industry development.

During the Reporting Period

1,262

Training sessions

20,000+

Participants covered

1.42 million RMB

Training expenses

Metrics and Targets

Future Targets and Commitments

Continuously optimise the dual-track career development framework, improve the fairness and transparency of promotion assessments, and achieve a steady increase in employee satisfaction with career development.

Deepen the tiered and categorised training framework, expand training coverage and depth, and ensure that the training coverage rate for employees in core positions reaches 100%.

Strengthen the development of internal trainers and reserve management talent, building a high-calibre internal talent pipeline.

Deepen external collaboration, integrate high-quality resources, and enhance the innovation capability and industry influence of talent development activities.

C o n t i n u e to i n c rea s e i n v e st m e n t i n ta l e n t development, incorporate the effectiveness of talent development into departmental and senio management performance appraisals, and drive continuous improvement in talent development activities.

Occupational Health and Safety

Employees' occupational health and safety is an important foundation for the Company's sustainable development and a core embodiment of the Company's fulfilment of its social responsibilities. The Company consistently upholds a people-centred approach, placing the protection of employees' physical health and personal safety as a priority, continuously improving its occupational health and safety management system, strengthening risk prevention and control, raising the level of protection, and genuinely safeguarding employees' legal rights and interests, advancing the sound development of both the Company and its employees.

Governance

The Company prioritizes occupational health and work safety, strictly complying with China's Work Safety and Occupationa Disease Prevention laws. It has established a comprehensive EHS management system, with dedicated safety personne deployed at each production base and clearly defined responsibilities at every level. Management measures cover occupational health, hazard warnings, fire and explosion prevention, dust and toxic substance control, training, health surveillance, and incident handling. During the Reporting Period, all principal subsidiaries obtained ISO 45001 certification, achieving standardized and systematic management.

Strategy

The Company has incorporated occupational health and safety into its core sustainable development agenda, adhering to the principle of "safety first, prevention foremost, and comprehensive management," and placing employee safety and health as a priority. The Company aligns occupational health and safety objectives with production and business operations, projec construction, and technology upgrading — planning and implementing these simultaneously — and has incorporated safety performance into the appraisal framework for senior management and all business units, using objective-driven management to drive continuous improvement, building a safe and healthy working environment on an ongoing basis, and safeguarding employee rights and interests and the Company's long-term stable operations.

Management of Impacts, Risks and Opportunities

Full-Process Risk Management and Risk Prevention and Control

The Company has established a full-process occupational health and safety risk management mechanism covering hazard identification, risk assessment, process control, hazard investigation, and emergency response, implementing dynamic management across all operations. It systematically manages occupational hazards including noise, dust, high temperatures, and harmful gases, formulates dedicated operating procedures for high-risk positions, and standardizes operating behaviors. The Company continuously improves safety protection facilities for dust, toxic substance, and explosion prevention, noise reduction, and fire protection, strengthening daily inspections and maintenance to ensure facilities remain in good condition and operate reliably.

Full-Cycle Employee Health Protection and Capability Enablement

The Company rigorously implements full-cycle occupational health protection, enforcing pre-employment, during-employment, and exit health examinations with established surveillance records. All employees receive three-level safety induction training covering regulations, operating procedures, and risk protection. The Company provides adequate standard-compliant personal protective equipment and standardizes its issuance, use, and supervision to enhance employees' self-protection capabilities.

Training, Drills, and Management Efectiveness

The Company continuously conducts work safety training and publicity activities to enhance all employees safety awareness and operating skills; formulates and implements emergency response plan drill schedules on an annual basis, conducting emergency drills covering scenarios including fire safety and production safety, and strengthening employees' emergency response capabilities. The Company has established an incident reporting, investigation, and handling mechanism, implementing closed-loop management of safety-related issues. Through systematic, full-process occupational health and safety management, the Company efectively prevents work safety accidents and occupational diseases, genuinely safeguards employees' physical health and personal safety, improves operational stability and sustainable development capability, and drives the overall improvement of safety and health standards across the industry through standardised management practices.

During the Reporting Period

252

4,000+

emergency response drill and training sessions

covering person-times

100%

project coverage rate

Equipment Group Conducts Post-Chinese New Year Return-to-Work Safety Training for 2025

February

the Equipment Group convened a post-Chinese New Year return-to-work safety training conference simultaneously at the main venue and an online sub-venue at the Binhai Plant, with 185 employees attending in person and Binhai Plant employees participating online. The training focused on the principal hazard factors associated with return to work after the holiday, common unsafe behaviours, and countermeasures, and guided employees to use the Zhejiang Province Work Safety Online Learning Academy app to study safety operating procedures. Vice President Zhu Dahai emphasised that safety is the foundation of the Company's development, requiring all employees to adhere to the principle of "safety first, prevention foremost, and comprehensive management," and requiring heads of all departments to genuinely fulfil their safety management responsibilities and strengthen supervision and inspection. This training efectively enhanced employees' safety awareness and practical operating skills, providing robust safeguards for the Company's stable work safety operations throughout the year and demonstrating the Company's sense of responsibility for employee occupational health and work safety.

Weiming Shengqing conducted an acid-alkali leakage emergency drill in the high-grade matte nickel extraction workshop, simulating the full process of handling a tank leakage. This efectively enhanced employees' emergency response capabilities, tested the operability of the emergency response plan, and reinforced the safeguards for work safety.

the Yongqiang Power Plant organised a first aid skills training session, inviting a professiona medical practitioner to explain and guide practical drills on cardiopulmonary resuscitation (CPR), the Heimlich manoeuvre, and other first aid knowledge, efectively disseminating first aid knowledge and comprehensively enhancing employees' emergency response and safe operating capabilities.

April 2025

the Chengjiang Power Plant jointly conducted fire safety training and an emergency drill with the fire department.

Metrics and Targets

Future Targets and Commitments

• Maintain the effective operation of the ISO 45001 system and pursue continuous improvement.

Strictly fulfil the primary responsibility for occupational disease prevention and control, and rigorously limit the occurrence of new occupational diseases.

• Continuously improve the coverage rate and effectiveness of safety training and emergency drills.

Strengthen day-to-day inspections and hazard identification and investigation to continuously reduce work safety risks.

Continue to standardise the provision and use of personal protective equipment.

Continue to improve the full-cycle occupational health protection framework for employees, genuinely safeguarding employees' safety and health rights and interests.

Appendix 1： Sustainability Reporting Guidelines Alignment Index

Alignment Index for the Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 14 – Sustainability Reporting (Trial)

Appendix 2： GRI Sustainability Reporting Standards (2021) Alignment Index

Appendix 3： Key Performance Indicators (KPI)

Notes

①　In 2025, Weiming Environmental Protection's total greenhouse gas emissions increased significantly. The primary reasons for the fluctuations in emissions are as follows:

a　Fossil carbon emissions arising from the incineration of municipal solid waste (MSW) were incorporated into the 2025 accounting scope, which was the key factor behind the increase in total emissions.

b　The Indonesia Jiaman Matte Nickel Project was formally commissioned during the Reporting Period, driving a substantial increase in the consumption of fossil fuels, including coal, as well as purchased electricity.

②　Notes on Accounting Boundaries:

a　 In accordance with the GHG Protocol (Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard), self-generated electricity consumed on-site is not included in Scope 2 emissions.

b　With reference to GB/T 2589-2020 (General Rules for Calculation of the Comprehensive Energy Consumption), self-generated energy consumed on-site is not included in the total comprehensive energy consumption.

③　The Company's energy consumption statistics are prepared in accordance with the principles of measurability and verifiability within the organisational boundary:

a　Total energy consumption = purchased electricity + purchased heat + fossil fuel consumption

b　Self-generated on-site renewable energy (from waste-to-energy (WtE) incineration and photovoltaic power generation) constitutes internal energy consumption within the organisation rather than external energy input, and is disclosed separately in accordance with internationally accepted practice.

To the Management and Stakeholders of Zhejiang Weiming Environment Protection Co., Ltd.,

Leverage Limited (referred to as "LVG") was engaged by Zhejiang Weiming Environment Protection Co., Ltd. (referred to as "Weiming Environment". "the Company" or "the Reporting Organization") to provide limited and independent third-party assurance for the ESG Report with the reporting period of January 1 to December 31, 2024. The LVG assurance team strictly adhered to the terms outlined in the contract with Weiming Environment and conducted the assurance work in accordance with the mutually agreed terms of contract

This assurance statement is based on information and materials provided by Weiming Environment, and the scope is limited to the content of this information and materials. Weiming Environment is responsible for the authenticity and completeness of the information and materials provided

SCOPE OF THE ASSURANCE

The time scope of the assurance:

The scope of our work covers all the information contained in the full version of the ESG Report, including the information and data of the governance, environmental, and social issues for the reporting period of January 01 to December 31, 2024, the management approach to the materiality issues and the action measures, and all the organization's key performance indicators during the reporting period.

The physical scope of the assurance:

The site selected for on-site verification is the 16F, Aurora Plaza, 99 Fucheng Road, Pudong, Shanghai, China.

The data and information scope of the assurance

The scope of assurance is limited to all the data and information of the business/production sites owned or operationally controlled by Weiming Environment mentioned in the ESG Report.

The following information and data are not within the scope of this assurance:

Any information and content outside the reporting period of the ESG Report.

The data and information of Weiming Environment's suppliers, partners, and other third parties.

The information disclosed in the ESG Report that has been audited by an independent third-party organization.

LIMITATION OF ASSURANCE

Given the fact that there is no general framework for the evaluation and measurement of non-financial data, the varied methodologies impact the comparability of such data among different companies

During the assurance process, LVG has utilized a sampling approach to verify the data and information presented within the ESG report.

Engagement (Interview) with stakeholders within the organization has been conducted solely on a sampling basis.

The position and views of the reporting organization, forward-looking statements, predictive information in the ESG Report, and historical data and information prior to January 01, 2024 are outside the scope of this assurance.

ASSURANCE METHODOLOGY

The assurance process for this verification was conducted by a team of experts at LVG with multiple experience in governance, environmental, and social issues, among other relevant areas, to draw conclusions. The assurance referenced the following standards and criteria:

AA1000AS v3, Type 2, Moderate Level

The GRI Sustainability Reporting Standards (GRI Standards) issued by the Global Sustainability Standards Board (GSSB)

To ensure thorough assurance activities in accordance with the contract and to provide limited assurance for the conclusions, the assurance team primarily conducted the following assurance activities:

Conducted initial research activities on relevant information before assurance work starts

Ensured significant materiality issues and performance have been adequately presented in the ESG Report

Conduct on-site assurance of all supporting documents, data, and other information provided by Weiming Environment, and perform sampling assurance for key performance indicator data

Interviews with Weiming Environment's management and employees involved in the collection, collation, and reporting of disclosure information.

Other procedures deemed necessary by the assurance team.

Upon completion of our assurance, we have determined that this report is in accordance with the AA10o0AS v3. The data disclosed for the year 2024 is deemed accurate and reliable, with no significant systematic or materiality issues identified. Stakeholders can confidently rely on this information.

The specific conclusions are outlined below:

STATEMENT OF INDEPENDENCE AND COMPETENCE

Leverage Limited is an international third-party company, committing to providing services with attitudes of integrity transparency, and accountability, Our services include training, inspection, certification, audit, and report assurance LVG is an inspection and identification agency accredited by the China National Accreditation Service for Conformity Assessment (CNAS) and a certification body approved by the Certification and Accreditation Administration of the People's Republic of China (CNCA). It is also a SA8000 certification body recognized by the Social Accountability Accreditation Services (SAAS) and an AA1000 licensed assurance service provider. LVG has established a comprehensive management system to ensure that all project implementation processes are rigorous and transparent.

Leverage Limited affirm our independence from Weiming Environment, being free from bias and conflicts of interest with the organization, its subsidiaries and stakeholders The assurance team was formed based on their knowledge experience and qualifications for this assignment, they have no business relationship with the organization, All data and information in the report were provided by Weiming Environment, and LVG was not involved in the preparation and writing of the report, except for conducting the verification and issuing the assurance statement

Team Leader Signed:

Authority Signed:

Leverage Limited

Shanghai, China

15 Apr, 2025

Feedback Form

Thank you for reading the Weiming Environment Protection 2025 Annual Environmental, Social and Governance (ESG) Report. In order to provide you and other parties with more valuable information, to facilitate your oversight of the Company's sustainable development management activities, and to improve the Company's capacity and standards in fulfilling its sustainability obligations, the Company sincerely welcomes your evaluation of this Report and your valuable comments and suggestions

You may provide your feedback through the following channels:

Telephone: 0086-0577-86056018

Email: ir@cnweiming.com

Postal address: 16th Floor, Tongren Hengjiu Tower, No. 525 Shifu Road, Wenzhou, Zhejiang Province

1. Your relationship to Weiming Environment Protection:

⃞ Employee ⃞ Customer and Consumer ⃞ Shareholder or Investor ⃞ Supplier

⃞ Government and Regulatory Authority ⃞ Media / Industry Association

⃞ Other (please specify)

2. Your overall evaluation of this year's ESG Report: ⃞ Excellent ⃞ Good ⃞ Satisfactory ⃞ Poor ⃞ Very Poor

3. Your evaluation of the clarity, accuracy, and completeness of the information, indicators, and data disclosed in this Report: ⃞ Excellent ⃞ Good ⃞ Satisfactory ⃞ Poor ⃞ Very Poor

4. In your view, does this Report comprehensively reflect the corporate governance responsibilities assumed by Weiming Environment Protection? ⃞ Excellent ⃞ Good ⃞ Satisfactory ⃞ Poor ⃞ Very Poor

5. In your view, does this Report comprehensively reflect the environmental responsibilities assumed by Weiming Environment Protection? ⃞ Excellent ⃞ Good ⃞ Satisfactory ⃞ Poor ⃞ Very Poor

6. In your view, does this Report comprehensively reflect the social responsibilities assumed by Weiming Environment Protection? ⃞ Excellent ⃞ Good ⃞ Satisfactory ⃞ Poor ⃞ Very Poor

7. In your view, are the content arrangement and layout design of this Report easy to read? ⃞ Excellent ⃞ Good ⃞ Satisfactory ⃞ Poor ⃞ Very Poor

8. Additional comments: