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Jiangsu Yuyue Medical Equipment & Supply
2024 Annual Report

2024 Annual Report

Product catalog summary

Message from the Chairman: Wu Qun, Chairman and General Manager of Jiangsu Yuyue Medical Equipment & Supply Co., Ltd., emphasizes the company's commitment to innovation-led transformation and public health protection. In 2024, Yuwell Medical focuses on health management, technological innovation, and sustainable development, aligning with national strategies and exploring new growth avenues.

About Yuwell Medical: Yuwell Medical is a leading Chinese medical device company specializing in R&D, production, sales, and service of medical equipment. The company focuses on respiratory therapy, blood glucose management, and home health monitoring solutions, with a strong international presence in over 100 countries.

Sustainable Development Management: Yuwell Medical prioritizes high-quality and sustainable development, enhancing corporate governance, business ethics, and information security. The company is committed to a sustainable supply chain and environmental management, addressing climate change and reducing environmental impact.

Innovation-Driven Development: The company invests heavily in R&D, achieving breakthroughs in glucose monitoring systems, sleep apnea therapy devices, and oxygen generators. Yuwell Medical integrates AI and digital innovation, enhancing global competitiveness and customer satisfaction.

People-Centered Approach: Yuwell Medical focuses on human capital development, employee rights protection, and public welfare. The company supports emergency medical care and chronic disease management, contributing to global healthcare development.

Environmental Friendliness: Yuwell Medical integrates green values and sustainability principles, achieving energy management targets and reducing environmental footprints through innovative product designs.

Key Performance Table: The report includes financial performance data from 2020 to 2024, highlighting growth in assets, revenue, and net profit.

Overview: The document outlines the ESG (Environmental, Social, and Governance) strategies and governance framework of Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. It emphasizes the Board of Directors' role in overseeing ESG matters, integrating ESG principles into business processes, and enhancing stakeholder engagement.

Corporate Governance: The company adheres to laws and regulations, maintaining a robust governance structure with clear roles and responsibilities. It updated its corporate governance systems in 2024 to improve operational standards and development quality.

Board Diversity and Effectiveness: The Board comprises 9 members, including 44.4% female directors, with diverse backgrounds in bioengineering, medical devices, risk management, and finance. This diversity enhances decision-making and risk management capabilities.

ESG Management: The company uses quantitative indicators to assess ESG strategies and incorporates ESG metrics into performance evaluations. It conducted ESG training sessions in 2024 to improve employee awareness and implementation of ESG practices.

Stakeholder Engagement: Yuwell Medical values stakeholder expectations, maintaining open communication channels to address their needs effectively.

Materiality Analysis: The company updated its materiality analysis methods in 2024, aligning with the latest disclosure standards. It assesses both impact and financial materiality to prioritize ESG issues for disclosure.

Risk and Opportunity Analysis: The document details risks and opportunities related to product quality, business ethics, R&D innovation, information security, human resource development, climate change, and sustainable supply chain management.

Key Metrics: The report highlights a 44.4% proportion of female directors, 100% coverage rate of anti-corruption training, and zero information leakage incidents.

General Meeting of Shareholders: The General Meeting of Shareholders is the highest authority, responsible for reviewing and deciding on major company matters. It operates according to relevant regulations, including specific rules for listed companies and Jiangsu Yuyue Medical Equipment & Supply Co., Ltd.

Board of Directors: The Board of Directors, accountable to the General Meeting, formulates the company's development strategy, business plans, and major investment decisions. It oversees operational management and financial status, supported by four specialized committees: Strategy, Audit, Nomination, and Remuneration and Evaluation. Independent directors lead these committees, ensuring professionalism and independence.

Supervisory Board: The Supervisory Board oversees the company's finances and monitors legal compliance, safeguarding the rights and interests of the company and its shareholders.

Board Diversity and Governance: Yuwell Medical promotes board diversity through a rigorous nomination process, integrating diversity criteria and ensuring a balanced composition in terms of skills, experience, and perspectives. Independent director nominations undergo qualification reviews and are elected via cumulative voting.

Information Disclosure and Investor Relations: The company complies with relevant laws for information disclosure, ensuring transparency and accuracy. It maintains an investor relations section on its website and conducts regular meetings and briefings to engage with shareholders.

Protection of Investor Rights: Yuwell Medical ensures equal treatment for all shareholders, with measures to safeguard investor rights, especially for minority shareholders. It implements a stable cash dividend strategy and has a market value management system to enhance shareholder returns.

Risk Management and Internal Control: The company adheres to regulatory requirements for internal control and risk management, enhancing its systems to support stable development. It integrates ESG risks into its planning processes and promotes a risk management culture through training and advocacy.

Tax Management: Yuwell Medical follows domestic and international tax regulations, building a comprehensive tax management system to ensure compliance and mitigate risks. It assesses the impact of global tax reforms and maintains a high tax credit rating.

Business Ethics: The company is committed to integrity, adhering to relevant laws and refining its business ethics and anti-corruption management system to ensure ethical practices globally.

Governance and Ethical Management: Yuwell Medical emphasizes ethical management as a cornerstone of its corporate culture, integrating it into its long-term strategy and supply chain. The Board's Audit Committee oversees ethical management systems, while the Supervisory Committee monitors compliance and business ethics policies. The company enforces strict adherence to ethical standards across all departments and maintains employee integrity records for evaluations.

Business Ethics Management System: Yuwell Medical has developed a comprehensive business ethics management system covering all business areas. This includes policies on anti-bribery, conflict of interest, and fair competition. The company extends these principles to suppliers and partners, ensuring a robust defense against unethical practices.

Strategy and Training: The company offers extensive compliance and ethics training for employees, including onboarding sessions, workshops, and seminars. In 2024, online training achieved 100% coverage, and offline sessions targeted specific departments. Suppliers are required to sign anti-bribery statements, and business ethics are promoted throughout the supply chain.

Supply Chain Management: Yuwell Medical enforces a zero-tolerance policy towards corruption and unethical practices. Suppliers must comply with laws and sign relevant agreements. The company conducts audits to ensure compliance and terminates cooperation with non-compliant partners.

Whistleblowing and Risk Management: The company has established a whistleblowing system to report ethical violations, ensuring confidentiality and protection against retaliation. The Supervisory Committee manages complaints and conducts audits to mitigate ethics-related risks.

Information Security and Privacy Protection: Yuwell Medical integrates information security into its governance framework, adhering to relevant laws and standards. The company has developed a comprehensive information security management system, conducts regular audits, and emphasizes employee training in privacy protection.

Emergency Management and Data Recovery: The company has an emergency response plan for information security incidents and conducts regular drills. Data recovery plans are in place to ensure rapid recovery in case of data loss, utilizing cloud services and backups.

Data Backup and Recovery: Yuwell Medical conducts regular drills in simulated environments to verify the recoverability of backup data. Data assets are classified into core, important, and general categories, with targeted protection measures applied accordingly. This classification helps reduce risks of data breaches, loss, and misuse while enhancing data management efficiency and security.

Tiered Control of Data Assets: The company employs enhanced tiered control and permission management to ensure optimal protection for sensitive and critical data. This approach is part of a broader strategy to improve information security capabilities, including encryption/decryption management, firewalls, and intrusion detection systems.

Enhanced Technical Protection: Yuwell Medical continuously upgrades its information security protection capabilities, deploying internal and external firewalls, situation awareness systems, and other intrusion detection and prevention mechanisms. Regular security assessments and vulnerability scans are conducted to maintain a robust data security framework.

Information Security Culture Building: Information security is integrated into onboarding programs, with regular training sessions and awareness campaigns to highlight its importance. During the reporting period, 15 specialized training sessions were conducted, covering topics such as overseas data classification and endpoint protection security.

Overseas Data Security Management: Yuwell Medical complies with international laws and regulations to protect data in its global operations. A comprehensive Overseas Data Security System is in place, defining requirements for data collection, storage, transmission, and more, to safeguard against security risks associated with overseas data management.

Supply Chain Information Security Management: Customer information security is a key criterion in supplier assessments. Confidentiality clauses are included in agreements, and the Information Security Outsourcing O&M Management Regulation ensures thorough security reviews and monitoring of service providers.

Personal Information and Privacy Protection: The company adheres to principles of legality, authorization, and confidentiality in data privacy protection. It ensures compliance at every stage of the personal information lifecycle and actively engages in formulating industry standards for medical data security.

Information System and Data Security: Yuwell Medical has implemented Information Security Risk Assessment Management Measures, establishing a process for assessing information security risks. This includes risk evaluation, treatment, and control, with assessments conducted at least annually.

Impact, Risk, and Opportunity Management: The company conducts operations involving personal data in strict accordance with applicable laws, ensuring the rights and interests of data subjects are safeguarded. It requires verification of external data sources' legality and compliance before integration into its systems.

Indicators and Targets: Yuwell Medical achieved a 100% coverage rate of information security training and completion rate of annual IT-specific reviews for critical business system permissions. No major information security incidents or information leakage incidents were reported.

Sustainable Supply Chain: The company has established a robust supply chain management system, with specialized teams managing the supplier lifecycle. It adheres to relevant laws and regulations, optimizing supplier portfolios to enhance supply chain efficiency and resilience.

Material Supplier Management: Yuwell Medical employs a classified and tiered management approach for suppliers, with assessments based on supply capability, financial risk, quality assurance, and sustainability adherence. Strategic partnerships with key suppliers ensure long-term stability.

Supplier Management and Evaluation: Yuwell Medical categorizes suppliers into material, storage and transportation, and IT service suppliers, each with specific management standards. The Supplier Management Control Procedure outlines protocols for audits, performance evaluations, and potential restrictions. Annual audit plans are developed, including Supplier Evaluation Forms and regular assessments of qualifications, contract performance, and social and environmental impacts. Corrective and Preventive Action Reports are issued based on audit findings to guide supplier improvements. In 2024, 65 on-site audits were conducted.

Sustainable Procurement: Sustainability is integrated into the supply chain management, requiring suppliers to adhere to environmental, social, and governance standards. Suppliers must sign commitments against bribery and corruption, and comply with BSCI regulations. The company ensures compliance through assessments, contractual terms, training, and audits. In 2024, 231 suppliers were certified for quality management systems, 30 for environmental management, and 66 for occupational health and safety.

Quality and Ethics: The company maintains quality through agreements and regular audits, providing training and technical cooperation as needed. Suppliers must sign anti-bribery statements, and thorough due diligence is conducted to ensure ethical standards. Social responsibility audits cover labor rights, health and safety, and environmental issues.

Resilient Supply Chain: Yuwell Medical focuses on building a resilient supply chain, addressing risks such as quality, supply, financial, compliance, and ESG risks. Annual risk assessments and audits are conducted, with corrective actions for underperforming suppliers. A robust emergency response mechanism is in place to mitigate supply chain disruptions.

Innovation and R&D: Yuwell Medical emphasizes innovation, with a structured R&D management system overseen by the Board of Directors. The company invests in R&D, focusing on areas like respiratory therapy and blood glucose management, achieving technological breakthroughs and obtaining patents. It collaborates with national and provincial research platforms to accelerate technological advancements.

Annual Supplier Conference: In October 2024, Yuwell Medical hosted its Annual Supplier Conference, engaging 309 suppliers to explore product innovation and global supply chain development.

Key Achievements: In 2024, Yuwell Medical achieved a 99.03% incoming material acceptance rate and ensured 100% of suppliers underwent environmental, quality, and safety assessments. The company maintained zero business interruptions and achieved a first-pass yield of 99.72%.

R&D Innovation System: Yuwell Medical integrates R&D resources from global institutions to create advanced innovation platforms. It has established multiple leading R&D technology platforms, including Micro-nano Laboratory, MEMS Process Platform, and others, to drive technological breakthroughs and optimize product lines.

Achievements and Recognitions: The company has received numerous national and provincial scientific and technological innovation awards. It has been recognized as a High-Tech Enterprise and SRDI SME, highlighting its commitment to innovation.

National Key R&D Program: In 2024, Yuwell Medical completed a significant project on wearable continuous glucose monitoring systems, improving data accuracy and facilitating personalized diabetes management through AI integration.

Talent Development and Innovation Culture: Yuwell Medical emphasizes talent as a key driver of innovation, with a comprehensive talent management system and innovative incentive mechanisms to foster a culture of experimentation and continuous innovation.

Industry-Academia-Research Cooperation: The company collaborates with universities and research institutes to address clinical challenges and improve medical technologies, contributing to the healthcare industry's development.

Blood Glucose Monitoring: Yuwell Medical has expanded from traditional blood glucose meters to advanced continuous glucose monitoring systems, enhancing accuracy and usability for diabetic patients.

Respiratory Therapy: The company has made significant advancements in oxygen concentrator technology, achieving breakthroughs in noise reduction and pressure stability, and developing solutions for mobile medical scenarios.

Impact, Risk, and Opportunity Management: Yuwell Medical implements a cross-departmental IPD management process to manage risks associated with innovation, ensuring alignment with market demands and continuous risk governance.

Ethical Standards and Compliance: The company adheres to ethical norms and legal standards in data processing and clinical research, ensuring informed consent and data privacy. It also complies with intellectual property laws to protect its innovations.

Intellectual Property Protection: The company emphasizes the importance of intellectual property (IP) through regular training sessions and has developed an R&D Intellectual Property Risk Assessment Form to protect its achievements. It respects others' IP rights and aims to avoid infringement by strengthening patent risk management and confidentiality obligations.

Technology Ethics and R&D Investment: The company achieved its target of R&D investment, spending RMB 546.68 million, which is 7.23% of its operating revenue. It maintains 1,195 valid patents and filed 295 new applications, with 200 new patents granted.

Product Quality and Safety: Yuwell Medical adheres to high-standard governance principles, ensuring product safety and quality through a comprehensive framework of policies and standards. The Quality Department oversees compliance with quality standards, supported by cross-departmental collaboration. The company complies with key regulations and has developed a Quality Manual to enhance product quality and safety.

Governance and Strategy: The company employs a user-centric, full-chain collaborative management approach, integrating customer needs and high-quality standards throughout the business chain. It uses management systems, KPIs, and incentive policies to ensure superior product quality and prompt responses to customer needs.

Certifications and Standards: Yuwell Medical has obtained various certifications, including ISO 9001, ISO 13485, and MDSAP. It adheres to national and international standards, ensuring compliance with regulations like the EU MDR and U.S. FDA.

Post-Market Quality Management: The company has long-term monitoring plans for product performance and safety, collecting and reporting adverse events to control post-market risks. It collaborates with regulatory bodies for adverse event monitoring and implements CAPAs to reduce occurrences.

Production and Supply Chain Management: Yuwell Medical implements strict quality control throughout production, using SOPs and batch management systems for transparency and traceability. It advances intelligent production workshops with smart equipment for automated production.

Laboratory and Testing: The company has a comprehensive laboratory system accredited by CNAS and other international certifications. It engages in training and interlaboratory comparisons to maintain industry-leading testing capabilities.

Quality Control and Inspection: Yuwell Medical implements rigorous quality control measures from raw material reception to product dispatch, ensuring product safety and quality. The Product Safety Laboratory conducts various tests, and third-party institutions verify new models or standard changes. In 2024, the company achieved a 100% product inspection pass rate and maintained a 0% product recall rate.

Regulatory Compliance and Product Safety: The company adheres to regulations such as the Good Manufacturing Practice for Medical Devices and has a comprehensive product recall system. It actively collects and reports adverse events, ensuring efficient post-market risk management.

Supplier Quality Management: Yuwell Medical has established procedures for supplier management, including audits and performance evaluations. It conducts on-site visits and develops improvement plans for suppliers with quality issues, ensuring continuous improvement.

Quality Culture and Training: The company promotes quality management through comprehensive training programs, covering medical device quality standards and regulations. In 2024, over 1,300 participants received FDA regulations training, enhancing compliance and product quality.

Risk Management: Yuwell Medical employs a comprehensive risk management system, adhering to standards like ISO 14971 and ISO 13485. It conducts regular audits and implements corrective actions to maintain stable manufacturing processes.

Digital Transformation: The company is advancing its digital strategy, integrating systems like APS, ERP, and MES to create smart factories. This enhances production efficiency and quality traceability, supporting competitive product delivery.

Customer Service and User Care: Yuwell Medical prioritizes customer needs with a comprehensive service ecosystem, offering pre-sale, in-sale, and after-sale support. It provides personalized services, including online guidance and door-to-door services for special groups.

Introduction: Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. has outlined its strategic initiatives and achievements in its 2024 Sustainability Report. The company focuses on enhancing customer service, product accessibility, and smart healthcare solutions.

Customer Service Enhancements: Yuwell Medical is committed to providing personalized services through advanced technologies like AI customer service and intelligent recommendation systems. The company has been recognized among the Top 100 Chinese Service Brands and has received several awards for its innovative service approaches. It offers a multi-channel communication strategy, including telephone, text, and video interactions, to ensure real-time engagement with clients.

Quality Management: The company employs advanced data analysis platforms for real-time monitoring of service channels, allowing for prompt anomaly detection and resolution. An automated quality scoring system evaluates customer service interactions, and a comprehensive training system ensures service professionalism.

Complaint Handling and Customer Satisfaction: Yuwell Medical has developed a robust complaint management system, integrating AI robots for real-time responses. The company prioritizes customer feedback to enhance product and service quality, achieving high satisfaction rates in both B2B and B2C sectors.

Responsible Marketing: Adhering to ethical marketing practices, Yuwell Medical employs AI-driven tools to ensure accurate and timely information dissemination. The company has established internal audit processes to ensure compliance with legal regulations and internal standards.

Product Accessibility and Innovation: Yuwell Medical aims to make quality healthcare more accessible through public health education and the development of inclusive products. The company has signed a strategic cooperation memorandum with Vietnam's FPT Group to promote continuous glucose monitoring technology in the ASEAN market.

Design and Usability: Focusing on human-centric and inclusive design, Yuwell Medical addresses the needs of elderly users and special needs groups. The company has received international design awards for its innovative products.

Smart Healthcare Initiatives: Yuwell Medical is advancing smart healthcare by integrating traditional medical products with information technology. The company is developing a digital health platform to provide comprehensive health data records and enhance medical service accessibility.

Conclusion: Yuwell Medical's 2024 Sustainability Report highlights its commitment to enhancing customer service, product accessibility, and smart healthcare solutions, aiming to improve the health of millions of families worldwide.

Introduction: Yuwell Medical is a company focused on integrating digital technology with healthcare to provide comprehensive health management solutions. Their initiatives span across remote chronic disease management, smart healthcare ecosystems, and human capital development.

Remote Chronic Disease Management: Yuwell Medical has developed a remote chronic disease management platform called Smart Yuwell. This platform synchronizes chronic disease data between devices and the cloud, allowing users to monitor and manage their health data in real-time. It incorporates intelligent hardware devices and offers personalized health management plans, enhancing patient experience and medical service efficiency.

Smart Healthcare Ecosystem: The company is building a digital medical service ecosystem by integrating home healthcare, clinical medical care, and Internet healthcare resources. This ecosystem aims to empower partners across multiple scenarios, providing comprehensive health management services from prevention to rehabilitation. Yuwell Medical prioritizes data security and regulatory compliance, actively participating in the formulation of industry standards for medical data security.

Human Capital Development: Yuwell Medical emphasizes human capital as a key driver of sustainable development. The company has established a comprehensive HR management system, focusing on talent recruitment, retention, and development. It conducts annual organizational climate surveys to gauge employee satisfaction and improve management practices.

Talent Recruitment and Retention: The company engages in various recruitment strategies, including campus recruitment, industry-academia collaborations, and partnerships with professional recruitment agencies. It also implements internal channels like employee referrals and internal job competitions to foster outstanding talent within the organization.

Conclusion: Yuwell Medical is committed to advancing digital health services and building a robust smart healthcare ecosystem. Through strategic initiatives in remote chronic disease management and human capital development, the company aims to enhance healthcare delivery and empower both patients and healthcare providers.

Awards and Recognition: Yuwell Medical has received several prestigious awards, including the Outstanding Human Resource Management Award, Employer of Choice of the Year Award, and Excellence in Talent Acquisition and Development Award.

Employee Training and Development: Yuwell Medical has launched 1,499 courses on the Yuwell Academy Learning and Development Management Platform, accumulating 116,752.4 learning hours and 159,318 course views. The company employs 6,346 individuals, with 2,368 new hires during the reporting period, including 146 fresh graduates. The proportion of female employees among new hires is 34.71%.

Talent Development Strategy: The company has established the Yuwell Learning and Development Center, focusing on consumer-oriented, digitalized, and youth-focused talent development. It has implemented learning maps and policies like the High-Potential Talent Development Management Measures to enhance competitiveness. Yuwell Medical collaborates with business units and uses online platforms to develop systems for professional, managerial, and new employee development, aligning with strategic needs.

Leadership and Management Training: Yuwell Medical invests in management talent development, emphasizing internal promotion and leadership cultivation. It has introduced the Yuwell Leadership Standards and partners with educational institutions for executive development programs. The Yuwell Star Program is a flagship initiative for management trainees, featuring online courses, bootcamps, mentorship, and career development camps.

Employee Training Metrics: Total investment in employee training is RMB 3.20 million, with 223,874 total training hours and an average of 35.28 training hours per employee. The training coverage rate is 100%.

Diversity and Equal Opportunity: Yuwell Medical maintains a female employee ratio of 41.16%, with 31.25% at mid to senior levels and 29.37% in STEM positions. The company adheres to international human rights norms and local laws, ensuring equal employment opportunities and prohibiting discrimination and illegal employment practices.

Diversity, Equity, and Inclusion (DEI) Initiatives: Yuwell Medical is committed to fostering a workplace culture that values diversity, equity, and inclusion. The company provides barrier-free environments for employees with disabilities and ensures equal career opportunities for female employees, including equal pay and statutory leave rights. Male employees are encouraged to take paternity leave, promoting work-life balance. The company supports female employees returning from maternity leave with adaptation periods and equal access to professional growth opportunities.

Work and Welfare Support: Yuwell Medical integrates diversity and inclusion into recruitment, operations, and training. The company conducts fair performance evaluations and promotions, organizes annual diversity training, and holds team-building events to promote a dynamic workplace. The compensation system includes fixed and variable income components, aligning with market trends and performance metrics. An employee stock ownership plan (ESOP) aligns employee interests with company goals.

Performance Evaluation and Feedback: The company employs a merit-based performance culture with a tiered appraisal system. Annual evaluations cover performance, competence, and behavior. A 360-degree feedback system is used for middle and senior-level personnel, ensuring fair assessments. High-performing staff receive incentives, while underperformers are supported with improvement plans. Robust communication mechanisms ensure understanding and engagement in performance management.

Compensation Incentives: Yuwell Medical offers comprehensive non-monetary benefits, including insurance, paid leave, and health check-ups. The company organizes health activities and provides psychological support. Team-building activities and family engagement events promote a harmonious work environment. A compassion fund supports employees facing hardships.

Impact, Risk, and Opportunity Management: The company prioritizes human capital enhancement by identifying and mitigating workforce risks. A scientific human resource management system supports talent development and risk management, ensuring sustainable growth.

Protection of Employee Rights: Yuwell Medical has policies to protect employee rights, prohibiting discrimination and harassment. Employees have the right to join unions and report concerns anonymously. The company conducts supply chain risk assessments to prevent human rights violations.

Employee Engagement and Grievance Management: The company supports employee participation and expression through open communication channels. A comprehensive grievance reporting mechanism ensures fair treatment and confidentiality, with strict anti-retaliation measures.

Occupational Health and Safety: Yuwell Medical adheres to the "Three Simultaneities" principle, ensuring safety facilities are designed, constructed, and operational alongside main projects. The company conducts regular health check-ups and risk assessments, implementing preventive measures against occupational diseases. A tiered safety approach is used, with high-risk areas clearly marked. Safety culture is promoted through comprehensive training and initiatives like Production Safety Month.

Compliance and Management Systems: The company complies with Chinese laws and ISO 45001 standards, maintaining a comprehensive safety management system. The General Manager oversees production safety, integrating health and safety targets into performance evaluations.

Employee Communication and Engagement: Regular meetings and direct communication sessions with management allow employees to participate in governance and express concerns. An internal publication and employee forum facilitate information sharing and feedback.

Health and Safety Training: CPR and AED training is mandatory, with multiple sessions conducted annually. The company boasts a high participation rate in health and safety training, ensuring employees are well-prepared for emergencies.

Philanthropy and Community Engagement: Yuwell Medical engages in various philanthropic activities, including emergency response training and rural healthcare support. The company has established a global rescue network and collaborates with partners to enhance emergency response capabilities.

Focus on Chronic Disease Management: Yuwell Medical is committed to diabetes care, offering innovative products and partnering with healthcare institutions to improve prevention and treatment. The company also supports rural healthcare by donating medical equipment and enhancing resource allocation.

High-Altitude Healthcare Initiatives: The Xizang Oxygen Production Project addresses oxygen supply challenges in high-altitude regions, providing a range of oxygen products and services. The company is dedicated to improving healthcare infrastructure and public welfare in these areas.

Support for Traditional Chinese Medicine: Yuwell Medical promotes TCM and acupuncture through education, talent development, and recognition programs like the Hwato Gold Needle Award.

Infection Control Training: Zhongyou Likang Pharmaceutical supports national infection control training programs, fostering research and innovation in the field.

Event Highlights: In July 2024, Yuwell Medical co-organized the 18th Nanyi Summer Camp in Huai'an City, Jiangsu Province, focusing on Type 1 diabetes management for nearly 100 families. In August 2024, the Yuwell Health Camp event provided diabetes education and free consultations, along with free continuous glucose monitoring systems.

Emergency Response: Following a 6.8-magnitude earthquake in Xizang, Yuwell Medical activated emergency plans, deploying oxygen supply equipment and medical aid. Partnering with the China Ageing Development Foundation, they ensured rapid delivery of essential medical supplies to the affected areas.

Environmental Initiatives: Yuwell Medical's 2024 Sustainability Report outlines its commitment to green development, adhering to Chinese environmental laws and ISO 14001 standards. The company reported no environmental incidents and achieved a 100% waste emission compliance rate. Investments in environmental protection totaled 4.82 million RMB.

EHS Management: The company has a three-tier EHS management structure, with responsibilities defined at each level. It conducts regular environmental risk assessments and emergency drills, achieving targets such as 100% hazardous waste control and compliant noise emissions.

Climate Change Strategy: Yuwell Medical integrates climate risk management into its operations, focusing on energy efficiency and green product development. The company addresses both acute and chronic climate risks, enhancing resilience and exploring new business opportunities in response to climate change.

Green Innovation: Yuwell Medical promotes sustainable product development, adhering to the EU RoHS Directive and achieving a high green supply chain management index. The company focuses on reducing hazardous substances and enhancing resource efficiency through energy-saving technologies.

Energy Management Strategy: Yuwell Medical complies with ISO 50001 Energy Management System requirements, implementing comprehensive energy management policies and a robust framework. Regular audits and initiatives focus on management-driven conservation, technological conservation, and energy structure optimization to achieve low-carbon operations. Objectives are updated annually and integrated into performance evaluations.

Green Packaging: The company prioritizes packaging simplification and the use of recyclable materials to minimize environmental impact. Initiatives include using biodegradable materials and replacing foam liners with recyclable air column bags.

Green Products: Yuwell Medical develops lightweight electric wheelchairs, platform-based electronic blood pressure monitors, and modular oxygen concentrators to reduce energy consumption and improve efficiency. The company uses renewable materials and complies with RoHS directives to minimize harmful substances.

Energy Management System: A big data platform for energy management enables integrated control, data collection, and process monitoring. This system supports energy forecasting, decision-making, and performance evaluation, transitioning from manual to digital operations.

Energy Conservation and Emission Reduction Actions: Yuwell Medical implements energy-efficient practices, including off-peak electricity usage, natural lighting, and intelligent manufacturing. The company replaces outdated equipment and upgrades to energy-saving models, achieving significant reductions in electricity consumption.

Water Resource Management: The company develops comprehensive water usage plans, promotes water recycling, and implements rainwater harvesting systems. It conducts regular inspections and encourages employee innovation in water conservation.

Environmental Impact Reduction: Yuwell Medical adheres to regulations for pollutant discharge and implements an EHS Management Manual to manage emissions and waste disposal. The company ensures pollution prevention facilities are integrated with main projects.

Environmental Management: Yuwell Medical has implemented comprehensive systems for managing emissions and waste, ensuring compliance with national and local regulations. The company recorded no major environmental incidents and faced no penalties. Wastewater management includes a rainwater and sewage diversion system, with significant portions of treated wastewater being reused, saving approximately 4,380 tons of water annually. Emissions from production processes are controlled through upgraded facilities, achieving over 90% efficiency in exhaust gas treatment.

Waste Management: The company adheres to strict protocols for handling both hazardous and non-hazardous waste, with a focus on reduction, resource utilization, and harmlessness. Hazardous waste is meticulously managed and disposed of by qualified entities, while non-hazardous waste is recycled or collected by local sanitation departments. The company aims to reduce pollutant emissions per unit of product by 2.5% in 2024 compared to 2023 levels.

Biodiversity Protection: Yuwell Medical integrates biodiversity protection into all project stages, ensuring no significant impact on biodiversity. The company conducts environmental risk assessments and engages in ecological restoration initiatives.

Corporate Governance and Ethics: The company maintains a 100% coverage rate for anti-corruption training, with an increased average training duration per employee. Investments in environmental protection have shifted from facility upgrades to maintenance, resulting in lower expenditure.

Energy Use and Greenhouse Gas Emissions: Yuwell Medical's energy consumption and greenhouse gas emissions have increased, with a focus on improving efficiency and reducing intensity. The company follows international guidelines for emissions reporting.

Social Performance: Yuwell Medical emphasizes employee health and safety, achieving a 100% training coverage rate. The company supports equality and diversity, with an increasing proportion of female employees in management roles. Employee satisfaction slightly decreased, but training hours per employee increased significantly.

R&D and Innovation: Investment in R&D has increased, representing a higher percentage of revenue. The company continues to focus on innovation to drive growth and sustainability.

Customer Satisfaction: Yuwell Medical maintains high customer satisfaction rates, with effective complaint handling processes in place.

Report Accessibility: The sustainability report is available in print and PDF formats, with electronic versions accessible on the company's official website and CNINFO.

Overview: The document is the 2024 Sustainability Report for Jiangsu Yuyue Medical Equipment & Supply Co., Ltd., covering the period from January 1, 2024, to December 31, 2024. It is prepared with reference to various international and national standards, including the GRI Standards, ESRS, and the United Nations Sustainable Development Goals.

Basis of Preparation: The report follows guidelines from the Global Sustainability Standards Board, Shenzhen Stock Exchange, and other regulatory frameworks to ensure comprehensive sustainability reporting.

Reporting Principles: The report adheres to principles of materiality, quantification, balance, and consistency, ensuring a transparent and balanced disclosure of information.

Key Sections and Corresponding Topics:

Addressing Climate Change: Focuses on energy utilization and climate change mitigation strategies.
Strengthening Environmental Management: Covers pollutant emissions, waste disposal, and environmental compliance.
Reducing Environmental Impact: Discusses ecosystem protection, water resource utilization, and circular economy practices.
Safeguarding Life and Health: Includes rural revitalization and social contributions.
Empowering Health Through Innovation: Highlights innovation-driven development and technology ethics.
Sustainable Supply Chain: Ensures supply chain security and equal treatment of SMEs.
Commitment to Uphold Quality: Focuses on product and service safety and quality.
Information Security and Privacy Protection: Addresses data security and customer privacy.
Human Capital Development: Emphasizes employee rights and development.
Adherence to Business Ethics: Covers anti-corruption and anti-unfair competition measures.

Voluntary Disclosure: The report includes sections on corporate governance, risk management, digital operations, health accessibility, and industrial cooperation.

GRI Content Index: The report is structured according to the GRI 1: Foundation 2021 framework, ensuring alignment with global reporting standards.

Contact Information: Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. is located at No.1 Baisheng Road, Development Zone, Danyang City, Jiangsu Province, China. Contact can be made via phone or email.

Catalog excerpts

Jiangsu Yuyue Medical Equipment & Supply Co., Ltd.

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01 Message from the Chairman 03 About Yuwell Medical 05 Sustainable Development Management 11 Steady and Long-Term Progress: Advancing Towards High-Quality Development 13 I llh.'lll' illi', CO|po[d|e GO'Ollk-lll' e 19 Adherence lo Business I Ihics 23 Ililoim.-ilion Security and Privacy Protection 27 Sustainable Supply Cham 59 People-Centered Approach: Safeguarding Lives and Empowering People 61 Human Capital Development 74 Protection of Employee Rights 77 Safeguarding Life and Health 101 About This Report Development: Empowering Life Through Technology Friendliness: Creating a Shared Green Future...

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Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Message from the Chairman A strong sense of responsibility and commitment has been the driving force behind Yuwell Medical's journey. Guided by a deep passion for healthcare, we have forged ahead with perseverance, leveraging technological innovation to inject fresh momentum, and improving quality and efficiency to unlock new avenues for growth. We strive to be a pioneer in innovation-led transformation and a steadfast protector of public health. In 2024, the demand for health management continues to rise, and industry transformation is moving...

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Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. About Yuwell Medical Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. (hereinafter referred to as "Yuwell Medical", stock code: 002223) is a leading medical device company in China, specializing in the research and development, production, sales, and service of medical equipment. As a comprehensive provider of medical devices and solutions, Yuwell Medical is committed to delivering high-quality, innovative medical products and services to patients and healthcare institutions worldwide. Driven by its mission to "alleviate patients' suffering...

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Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Sustainable Development Management Stakeholder Engagement Sustainable Development Governance Framework At Yuwell Medical, high-quality and sustainable development has always been a top priority. The Company continues to strengthen its environmental, social, and corporate governance (ESG) systems and enhance the Board's oversight and involvement in ESG-related affairs. ESG is positioned as a key driver for improving compliance management, promoting high-quality development, and reinforcing the Company's competitiveness. As the decision-making...

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Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Material Issues Materiality analysis helps the Company identify and assess potential risks, providing support for decision-making and management. In 2024, Yuwell Medical updated its materiality analysis methods in alignment with the latest disclosure standards, including the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and the Self-Regulatory Guidelines No. 17 for Companies Listed on Shenzhen Stock Exchange— Sustainability Report (Trial). The Company conducted materiality assessments from two dimensions:...

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Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Analysis of Impacts, Risks, and Opportunities Related to Material Issues Material Risk and Opportunity Analysis Impact Level • There are risks associated with product design and development, manufacturing and processes, as well as regulatory compliance. Failure to effectively manage these risks may lead to regulatory penalties, market access restrictions, and a decline in market trust. • By adhering to high standards of safety and quality, the Company can strengthen customer trust, expand market share, and gain a competitive advantage. Human...

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Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Steady and LongTerm Progress Advancing Towards HighQuality Development Proportion of female directors 44.4% Coverage rate of anti-corruption training Information leakage incidents

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Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Enhancing Corporate Governance Standardized Governance Practices Yuwell Medical rigorously adheres to relevant laws and regulations, 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, the Rules Governing the Listing of Stocks on the Shenzhen Stock Exchange, and the Self-Regulatory Guidelines No. 1 for Companies Listed on Shenzhen Stock Exchange—Standardized Operations of Companies Listed on the Main Board. The Company also complies...

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Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. To advance Board diversity, Yuwell Medical has established the Independent Director System and the Working Rules of the Board's Nomination Committee, providing a robust institutional foundation for inclusive governance. The Board member nomination process follows a rigorous selection protocol: the Nomination Committee integrates diversity criteria into its evaluation, conducting comprehensive assessments of candidates' educational backgrounds, industry experience, professional competencies, and career trajectories. This ensures a balanced composition...

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Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Risk Management and Internal Control Yuwell Medical rigorously adheres to the Company Law of the People's Republic of China , the Audit Law of the People's Republic of China, the Basic Standards for Enterprise Internal Control and its supporting guidelines, as well as regulatory requirements on internal control set forth by the China Securities Regulatory Commission and stock exchanges. Considering the unique characteristics of the medical device industry, the Company constantly enhances the construction, evaluation, and supervision of its internal...

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Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Adherence to Business Ethics Governance Yuwell Medical is firmly committed to the core corporate value of "integrity as the foundation". It strictly adheres to the Company Law of the People's Republic of China , the Anti-unfair Competition Law of the People's Republic of China , the Anti-Monopoly Law of the People's Republic of China , the Anti-Money Laundering Law of the People's Republic of China , as well as other relevant laws, regulations, and industry standards. The Company has established and constantly refined its business ethics and...

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All Jiangsu Yuyue Medical Equipment & Supply catalogs and technical brochures

2023 Annual Report
46 Pages