Greatview Aseptic Packaging : 2021 Corporate Sustainability Report

Important Notice

This report is the 2021 corporate sustainability report issued by Greatview Aseptic Packaging Company Limited. This report is prepared in accordance with the Environmental, Social and Governance ("ESG") Reporting Guide (the "Guide"), as set out in Appendix 27 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), with reference to the Sustainability Reporting Guidelines issued by the Global Reporting Initiative (GRI) and the Guidelines on Preparation of Social Responsibility Reports (national standard GB/T 36001-2015).

Terms and Expressions

For the purpose of easy presentation, "Greatview Aseptic Packaging Company Limited" is also referred to as "Greatview", the "Group", the "Company" or "we" in this report.

Time Horizon

This report is an annual report commencing from 1 January 2021 to 31 December 2021 (the "Reporting Period"), with certain retrospective statements and data for previous years where appropriate.

Source of Data

The data used in this report are sourced from official documents and statistical reports of Greatview Aseptic Packaging Company Limited. The statistical scope of which covers all subsidiaries of the Company. The Company undertakes that there are no false representations or misleading statements in this report, and is responsible for the truthfulness, accuracy and completeness of the contents herein.

Reporting Principles

In preparing this report, the Group has observed and applied the four reporting principles of "materiality", "quantitative", "balance" and "consistency" as set out in the Guide.

Materiality: The Group carries out materiality assessment in compliance with the Guide. The work procedures

include: (i) identifying relevant ESG issues, (ii) assessing the materiality of the issues, and (iii) reviewing and confirming the assessment process and results by the Board.

Quantitative: This report uses quantitative methods to measure and disclose applicable key performance indicators in compliance with the Guide and with reference to applicable quantitative standards and practices. The standards, methodologies, assumptions and/or calculation tools used to measure the key performance indicators in this report, as well as the source of conversion factors used, have been explained in the corresponding context, where applicable. The environmental targets are disclosed in the sections headed "Environmental Management" and "Use of Energy Resources".

Balance: This report discloses the Group's ESG practices, performance and outcomes in an unbiased manner, so as to avoid selections, omissions or presentation formats that may inappropriately influence the report readers' decisions or judgements.

Consistency: The statistics and calculation methods of the data and key performance indicators ("KPI") in this report are the same as in previous years, and a consistent method is used to calculate the future ESG data for the comparison of current year and past years data.

Availability of Report

The electronic version of this report is available at: https://greatviewpack.com/investor-relations/corporate-sustainability-report/

Tel: [phone]

Fax: [phone]

E-mail: [e-mail]

Contents

P2 Message from the CEO

P3 Company Overview

P4 Sustainable Development Strategy

Pragmatism:

P10 Pragmatism and Implementation

Innovation:

P24 Innovative Thinking

Collaboration:

P30 Coordinating and Fulfilling Our Responsibilities

Sharing:

P36 Shared Values

P45 Outlook

Appendix

P46 Social Recognition

P47 ESG Index Table

GREATVIEW ASEPTIC PACKAGING COMPANY LIMITED • CORPORATE SUSTAINABILITY REPORT 1

Message from the CEO

Company Overview

Message from

the CEO

Company

Overview

Sustainable

Development

Strategy

Pragmatism:

Pragmatism and Implementation

Since its foundation in 2003, Greatview Aseptic Packaging Company Limited has grown into the world's third largest integrated aseptic carton packaging solution provider for liquid food. Greatview provides cost-effective packaging materials, filling machines, spare parts and related services to manufacturers of liquid dairy products and non-carbonated soft drinks, striving to make liquid food consumption safe, accessible and appealing while respecting the environment. Greatview has become a pioneer in the industry in terms of high-quality products, cross- cultural operations, smart packaging cross-border innovation, and sustainable development.

Greatview is a public company listed on the Stock Exchange (stock code: 0468.HK) and has set up operational institutions in the People's Republic of China (the "PRC" and "China"), Germany, and Switzerland. It has set up factories in the PRC and Germany and its research and development centre is in the PRC. Greatview has been recognised by customers for its continuous and stable quality and rapid production and delivery capabilities. Its service network covers over 50 countries.

Innovation:

Innovative

Thinking

Collaboration:

Coordinating

and

Fulfilling Our

Responsibilities

Sharing:

Shared Values

Outlook

Appendix

Social

Recognition

ESG Index Table

2021 was a year full of challenges. Affected by the resurgence of the COVID-19 pandemic, the world continued to face labour shortages and the increase in raw material prices, whilst transportation costs remained at a high level, causing supply chains to confront severe challenges. Faced with such crises, we maintained stable production and market supply, and resolutely fulfilled our commitment to customers through the concerted efforts of all of our staff.

As the world's third largest supplier of aseptic packaging solutions for liquid food, Greatview always regards social responsibility as a cornerstone of our enterprise, takes sustainable development as an operating concept of the enterprise, and aligns all steps of its own development with green and low-carbon considerations in order to achieve harmony and unity between the enterprise and environment.

We are aware that global climate change has become the biggest threat to mankind. In response to the Chinese government's strategy of Carbon Peak Emissions and Carbon Neutrality, Greatview made a commitment to reduce greenhouse gas emissions by 50% in 2030, to achieve net-zero greenhouse gas emissions within our own operations in 2040, and across the whole value chain in 2050, with 2016 as the base year, so as to realise carbon neutrality.

In order to meet this commitment, Greatview has encouraged all factories to set up solar-panel power generation facilities to improve the usage of clean energy. In terms of the prevention and treatment for air pollution, we have adopted various emission-reduction measures to prevent emissions as well as to manage and control our work for air pollution.

We fully understand that resource recycling is crucial for the environment. In the field of post-usage carton recycling, we have proactively implemented an extended responsibility system for producers, established an alliance for sustainability within beverage paper-based composite packaging with dairy companies and other recycling- related companies, and issued the first performance report on extended responsibilities for producers in the industry together with peer companies.

Through our unremitting efforts in sustainability and innovation, the packaging materials provided by Greatview will be friendlier to the natural environment. In 2021, we launched Greatview® Planet, packaging that incorporates bio-attributed polymer under a mass balance approach material linked to plant-based sources, further contributing to the reduction of non-renewable and fossil- based PE materials, whilst our German factory was certified by the Roundtable on Sustainable Biomaterials ("RSB") and successfully commenced its production under this certification standard. Amidst a global backdrop of legal reduction of single-use plastics, Greatview has launched "Greatview® Eco-packaging", namely replacing PET bottles with aseptic packaging for water, which significantly reduces the use of plastic in packaging. The amount of of Greatview® Eco-packaging we provided for Elix Water in 2021 is equivalent to a reduction of approximately 1.07 million plastic bottles of equivalent capacity.

Sustainable development means protecting our planet, colleagues, customers and consumers, as well as our business future. We always adhere to the principles of pragmatism, innovation, collaboration and sharing, take these four basic principles as the criteria for the implementation of sustainable development strategies, and jointly explore a path towards sustainable development for paper-based composite packaging with our wide range of stakeholders through strengthening our collaboration with business partners, together to protect and benefit our earth.

W	Winterthur, Switzerland	H	Hohhot (Inner Mongolia), PRC	L	Liaocheng (Shandong), PRC
	Operating Office		Factory		Factory
HS	Halle (Saxony), Germany	B	Beijing, PRC	HK	Hong Kong, PRC
	Factory		Operating Headquarter,		Operating Office
			Research and Development
			("R&D") Centre
Q	Qingdao (Shandong), PRC		Global Service Network
	Likang Factory

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Message from

the CEO

Sustainable Development Strategy

Sustainable development has become an essential	To this end, we have developed a sustainable
topic across the world. As an enterprise in the	development strategy for Greatview to operate in a

Statement of the Board

Company

Overview

Sustainable

Development

Strategy

Pragmatism:

Pragmatism and Implementation

packaging industry with responsibility for food	responsible manner, to achieve healthy and sustainable
safety, we undertake that our business activities must	development whilst creating shared value for our
in all circumstances meet, if not exceed, the public	economy, society and environment. This strategy
expectation, wherever we operate, of a law-abiding	includes clear objectives, basic principles, and the
and moral business.	measures and approaches to ensure its implementation.

Our Mission

"Striving to create shared value for society and the		achievements with social progress in an effort to create
environment" is our sustainable development mission.		both economic and social value.
It requires Greatview to root itself in the mutual success
of society and the environment, and to align its business

The Group has established a sustainable development governance structure and improved the management of sustainable development. Under the support of the Sustainable Development Management Committee, the board (the "Board") of directors (the "Directors") of the Company has assumed ultimate responsibilities relating to strategy, management, implementation, and reporting for the sustainable development of the Group, and has been responsible for comprehensively supervising the sustainable development of the Group.

The Board listens to reports on the progress of the sustainable development goal from the Sustainable Development Management Committee from time to time, and examines its relevance and impact on the Group's business.Through the review and revision of the Group's sustainable development policies, an effective system will be implemented, whilst stakeholders' expectations and requirements will be fulfilled.

The Group has currently established the Sustainable Development Management Committee and has authorised it to supervise and promote the implementation of various environmental, social and governance issues. After obtaining the authorisation of the Board, when formulating environmental, social and governance policies and strategies, the committee considers the opinions collected during communication withvariousstakeholdersandthematerialityassessment results, to determine the focus and priorities of the Group's sustainable development, and submits to the Board for approval and determination. In the future, the committee will review the progress in accordance with the Group's environmental, social and governance goals, so as to monitor and improve the sustainable development accordingly.

Innovation:

Innovative

Thinking

Collaboration:

Coordinating

and

Fulfilling Our

Creating shared value

Safety Society Ecology

One mission

Three pillars

Our Principles

Whether in business operations or in addressing social problems, we always follow the four basic principles of pragmatism, innovation, collaboration and sharing. These form the guideline for implementing our

sustainable development strategy, collaborating with customers, suppliers, communities and other stakeholders to jointly promote innovations in sustainable development theories and practices.

Responsibilities

Sharing:

Shared Values

Outlook

Appendix

Social

Recognition

ESG Index Table

Pragmatism	Innovation	Collaboration	Sharing

Our business activities must in all circumstances meet, if not exceed,

the public expectation, wherever we operate, of a law-abiding and moral business.

Four principles

Commitments

Pragmatism

We do not over-exaggerate our achievements, nor do we cover up problems. We continually strive to nd suitable solutions to environmental and societal pressures, and give our utmost to each endeavour.

Innovation

We full our social responsibility with innovative thinking and technology, as demonstrated by continuous renewal and application of numerous energy-saving technologies and smart practices in our factories.

Collaboration

Greatview advocates collaboration with suppliers, communities, customers and other partners to jointly full social responsibility and to create benets.

Sharing

Creating shared value for sustainable development of society is our ultimate goal.

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Message from

the CEO

Company

Overview

Our Approach

The Sustainable Development Management Committee is responsible for formulating sustainable development policies and objectives for the Company and supervising the implementation of sustainable development practices. The Company's chief executive officer (the

The Sustainable Development Working Group is responsible for implementing sustainable development policies and measures and following through with the Company's sustainable development vision in all respects, including quality management, human

Stakeholder Engagement

As a listed company, we place great importance on		expectations by carrying out our responsibilities to
communication with stakeholders and respond to their		stakeholders in terms of interest, emotion and value.

Sustainable

Development

Strategy

"CEO") chairs the committee, the management of which comprises the heads of the production, sales, finance, human resources and marketing departments, who participate in its decision-making processes and take charge of the sustainable development practices in their respective areas.

resources, marketing and investor relations. Since its establishment, the working group has kept track of the ESG policy requirements of the Stock Exchange, maintaining a sustainable development indicator system, and continuously improving the social responsibility and information disclosure system.

Stakeholders	Demands and Expectations
Government	Real economic development and job
	creation
	Tax payment according to law
Regulators	Operation in compliance with laws
	Normative governance
	Strict risk management

Communication and Responses

Legitimate operation and provision of employment opportunities

Tax payment according to law

Regular reporting

Special meetings

Information submission

Pragmatism:

Pragmatism and Implementation

Innovation:

Innovative

Thinking

Collaboration:

Coordinating

and

Fulfilling Our

Responsibilities

Sharing:

Shared Values

Outlook

Appendix

Social

Recognition

ESG Index Table

Production

Director

Technical Services

Director

Operating

Director

Sales Director

Board CEO

International

Business Director

Chief Financial

Officer

Associate Human

Resources Director

Associate Marketing

Director

Chairman of the		Committee
Committee		Members

	Society		Production, supply chain and food safety
	Ecology		Climate change, emissions, use of resources
		and renewable resources
	Society		Supplier and community engagement
	Ecology		Sustainable raw materials, product research
		and development and resource regeneration
	Society		Customers
	Society		Government and shareholders
	Society		Employee and community engagement
	Society		Customers, governments, media, community
		engagement and social welfare

Responsible

ESG Areas

Investors	Outstanding performance, consistent
	return and transparent operation
Employees	Rights and interests protection,
	compensation and benefits, good
	working environment and career
	development
Customers	Provision of high quality and innovative
	products and premium and convenient
	services
Partners	Contract performance, procurement in
	good faith and on a fair basis, capacity
	support and sharing of experience
Environment	Ecological protection, energy
	conservation and emission reduction
	Green office
Media	Punctual and transparent information
	disclosure
Communities and	Support to community construction
the public	and participation in public welfare
	undertakings

Shareholders' meetings, reports, announcements and daily communication

Employee representative conferences, symposia, visits and condoles Corporate culture construction

Satisfaction surveys and customer interviews

Upgrades and innovations in products and services

Strict adherence to tender procedures, and improvement of procurement policy

Use of eco-friendly materials and advocacy of environmental protection

Punctual release of the Company's information through self-published media and various channels

Participation in community activities and public welfare undertakings

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