HONG KONG SAR - Media OutReach Newswire - 9 December 2024 - On October 29th, 2024, Luxshare Precision emerged as the "Green Manufacturing Company of the Year" at the 2024 NetEase ESG Trend Forum. This accolade celebrates Luxshare Precision's outstanding achievements in green manufacturing and highlights the company's impressive performance in sustainable development.
The award evaluation, initiated by NetEase Finance and supported by professional institutions, objectively assessed the ESG levels of participating companies, aiming to identify exemplary green companies in China, unearth cases that contribute to the long-term sustainability of businesses, inspire industry leaders, and promote ESG ecosystem cooperation.
As a key player in precision manufacturing, Luxshare Precision has strategically implemented comprehensive measures to practice green manufacturing. By the end of 2023, 14 subsidiaries had been recognized as national or provincial green factories, marking high-standard practices in building a green manufacturing system. Luxshare Precision will continue to promote the construction of green factories and garden factories.
Luxshare Precision actively responds to the national "carbon neutrality" goal, adhering to a strategy of "energy conservation and emission reduction as primary, prioritizing renewable energy, and supplemented by carbon offsetting." In 2023, the company completed 284 energy conservation transformation projects, reducing greenhouse gas emissions by 89,692 tons of CO2 equivalent.
By the end of 2023, rooftop photovoltaic installations reached 85 megawatts, and the company elevated the ratio of clean energy utilization to 63%, outperforming the target of "achieving a 50% clean energy utilization rate by 2025" two years ahead of schedule.
Luxshare Precision has implemented various measures in water resource management, such as installing intelligent water systems, promoting water-saving devices, and utilizing rainwater irrigation to maximize water recycling rates. By the end of 2023, the reclaimed water reuse rate at major production bases reached 85.88%.
Waste management is another focal point for Luxshare Precision. By introducing advanced waste management information systems, the company has achieved transparency and informatization in waste treatment processes. By the end of 2023, the average waste transformation rate of its subsidiaries reached 86.06%.
The company places great importance on the potential negative impact of chemicals on the environment and human health, actively promoting green chemical projects. Luxshare Precision collaborates with suppliers to fully control chemical substances involved in production processes and product components, aiming to minimize related risks. By the end of 2023, 22 subsidiaries had obtained QC 080000 hazardous substances process management system certification.
While comprehensively practicing green manufacturing management, Luxshare Precision highly values the role of intelligent manufacturing in enhancing production efficiency and management levels. In 2023, the company developed three major processes: engineering data, production processes, and production information. Luxshare Precision implemented 32 business process optimization projects across 12 production scenarios and actively advanced the application of Digital Twin in production, striving for full coverage of the Warehouse Management System (WMS).
Luxshare Precision is committed to its environmental-friendly promise by integrating green concepts into its production operations. The company has established a sound green manufacturing management system and continues to make significant strides in energy conservation and emission reduction, resource recycling, green chemicals management, and intelligent manufacturing. In its dedication to responsible manufacturing, Luxshare Precision also places a strong emphasis on social and governance factors, for example, an ethical and sustainable supply chain and a diverse employment environment. The company firmly denies any involvement in forced labor practices in Xinjiang and upholds the highest standards of ethical conduct. Luxshare Precision strictly adheres to labor laws and human rights principles in all its operations, ensuring transparency, fairness, and respect for individuals across its supply chain.
Through continuous efforts in green manufacturing, energy conservation, resource recycling, and intelligent production, the company is advancing its environmental goals. Luxshare Precision's dedication to ethical labor practices further reinforces its role as a responsible practitioner in the global manufacturing landscape. Looking ahead, the company will continue to innovate, strengthen its ESG initiatives, and collaborate with partners to drive long-term sustainable growth.
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source: Luxshare Precision
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