Since 2021, Tingyi (Cayman Islands) Holding Corp. has been committed to the UN Global Compact corporate responsibility initiative and its principles in the areas of human rights, labour, the environment and anti-corruption.
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MASTER KONG
MASTER KONG
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CONTENTS
01 STATEMENT BY CHAIRMAN OF THE COMPANY AND THE SUSTAINABLE DEVELOPMENT COMMITTEE
03 STATEMENT BY CEO AND VICE CHAIRMAN OF THE SUSTAINABLE DEVELOPMENT COMMITTEE
04 DESCRIPTION OF THE REPORT
05 ABOUT MASTER KONG
06 Corporate Governance
07 Commitment to Good Quality
08 Brand Promotion
09 Green Operation
10 Employee Care
11 Giving back to the Society
13
ENHANCING THE SUSTAINABLE DEVELOPMENT PROCESS AND ENJOYING "LIFE + DELICACY"
15 Sustainable Development Concept
16 ESG Governance Structure and Actions
17 Supporting the United Nations Sustainable Goals and Initiatives
21 Sustainable Development Actions and Performance
26 Stakeholder Communication and Key Issues
Materiality Assessment
29
TOPIC: "LIFE + DELICACY" TOWARDS COEXISTANCE WITH THE NATURE
31 Our Reduction Goals and "Lightweight" Efforts
33 Promoting Waste Packaging Material Recycling
35 Launching the Plastic Reduction Initiative Together
37
FROM PEACE OF MIND TO NUTRITION AND HEALTH, ENJOY "LIFE + DELICACY"
39 Food Safety Control and Construction
42 Health and Nutrition Product Development and
Expansion
43 Spread Health Concept
45
BUILDING AN HONEST AND HEALTHY COOPERATION RELATIONSHIP TO CREATE "LIFE + DELICACY" TOGETHER
46 Customer Services
46 Information Security and Cybersecurity
47 Advertising and Intellectual Property Management
49 Supplier ESG Management
51 Anti-corruption and Ethics Management
53 Brand Breakthrough
55
GREEN AND HEALTHY GUARDIANSHIP FOR SUSTAINABILITY, A CLEAN WAY TO ENJOY "LIFE + DELICACY"
57 Setting Environmental Management Targets
59 Energy and Water Conservation Management
61 Emission and Carbon Reduction Management
62 Digital Production Management
63 Responding to Climate Change
65 Sustainable Sourcing of Raw Materials
67 Environmental Key Performance Indicators
69
CREATE AN EXCELLENT WORKPLACE AND SHARE "LIFE + DELICACY"
71 Deeply Develop Human Resources and Create an Excellent Workplace
73 Promote Staff Growth and Development, Create a Smart Workplace
75 Safeguard Employee Health and Safety to Create a Secured Workplace
77 Build a Corporate Culture and Create a Better Workplace
79 Human Key Performance Indicators
81
SERVE THE SOCIETY, CREATE VALUE AND ENJOY "LIFE + DELICACY" TOGETHER
83 Food Safety Science Popularization
85 Education on Water
87 Sports Charity Events
89 Focus on Social Care
90 Benefiting the "Agriculture, Rural Areas and Farmers"
91 School-Enterprise Cooperation
92 APPENDIX 1: SOCIAL RECOGNITION AND AWARDS IN 2022
93 APPENDIX 2: INDEX TABLE OF GRI STANDARDS
101 APPENDIX 3: TEN PRINCIPLES OF THE UN GLOBAL COMPACT
- APPENDIX 4: INDEX TABLE OF ISO 26000:103
GUIDANCE ON SOCIAL RESPONSIBILITY (2010)
STATEMENT BY
CHAIRMAN
OF THE COMPANY AND THE SUSTAINABLE DEVELOPMENT COMMITTEE
2022 MASTER KONG SUSTAINABILITY REPORT | 01 |
"LIFE +
DELICACY"
Green Operation | Giving Back to the Society |
Striving for green development, Master Kong actively takes responsibility for environmental protection in the areas
As a national brand, Master Kong always considers what society needs and shoulders social responsibilities while
In 2022, with "Consolidation, Innovation and Development" as the guiding strategy, Master Kong upholds the concept of "Keep Our Nature Green" to move towards a sustainable future. To align business development with national goals, we actively respond to China's "Carbon Peaking and Carbon Neutrality" goal. Specifically, we promoted the Carbon Inventory Project and practices on energy saving and carbon reduction, offered more green and healthy products, and pushed forward with the digital transformation and professional workforce development in pursuit of long-term development of the Company and the food industry.
The "Healthy Management" principle is integrated into Master Kong's management of products, talents, production, upstream and downstream development, community, environment and other aspects. We keep close connection with stakeholders and actively fulfil social responsibilities. We continue to explore and improve our performance in ESG and dedicate to enhancing social welfare and enjoying "Life + Delicacy" with stakeholders. I am very honoured to share with you the key achievements in sustainability of Master Kong in 2022:
Commitment to Good Quality
Being customer-centred, we proposed a strategy to promote satisfaction among "customers, society, partners, employees and shareholders". With a "zero tolerance" attitude towards food safety risks, we continue to enhance risk management of the Company, improve the ethics and professionalism of our employees and strengthen our product process management. In the past year, we focused on the development of food safety management system, talents training and marketing and promotions in the hope of constantly improving food safety and quality. In addition, in response to the "Three Reductions and Three Kinds of Health" campaigns, we worked on new healthy products that use less oil, salt and sugar, and refined recipes for over 100 product categories, such as "Classic Series".
of energy and water conservation, emission and carbon reduction, plastic reduction and packaging management, digitalised production, climate change response and sustainable raw material procurement. In the past year, we have met or are on track to our 2025 environmental targets, with the "water abstraction per million of revenue in RMB" target met ahead of schedule in 2022. In the future, we will keep exploring carbon reduction opportunities, precisely identifying and assessing climate-related risks and opportunities, and promoting packaging optimisation and management to build a green value chain.
Employee Care
In line with the philosophy of "People-oriented", Master Kong creates an excellent, harmonious, smart, and reassuring workplace, unswervingly protects the interests and well-being of employees, and shapes the all-round talents with "Diligence, Integrity and Competence", therefore enhancing physical and mental health of employees and achieving a win-win situation where the development of the Company and the employees can both be realised. In 2022, we provided 6.924 million hours of training to improve employees' abilities.
realising its own vision. In 2022, we continued to contribute heavily towards community investment. In addition, we carried out public welfare activities in various areas such as food safety science popularisation, education on water, support for sports, caring for the society, assisting in agriculture, rural areas and farmers, and deepening cooperation between schools and enterprises, to fulfil our responsibilities as a corporate citizen.
Business success cannot be achieved without a strategy. Looking forward to 2023 at the 30th anniversary, we deeply understand that there is still a long way to go. Together with stakeholders, we will continue product development and structural adjustment in response to customers' preferences for diversified, healthy and low-carbon products to enhance the brand reputation. Practicing the way of green operation and development, we will embrace our next 30 years of "Life + Delicacy".
Wei Hong-Ming
Chairman
2022 MASTER KONG SUSTAINABILITY REPORT | 03 |
STATEMENT BY
CEO
AND VICE CHAIRMAN OF THE SUSTAINABLE DEVELOPMENT COMMITTEE
While the world is undergoing profound changes, we are pleased to see that China, with its sound and resilient economic system, strong momentum and huge market potential, is playing a key role in global sustainable development. Meanwhile, Chinese enterprises are exploring new business models in support of green development. Against this backdrop, as a leading national brand in China's food and beverage industry and a member of the United Nations Global Compact (UNGC), Master Kong has always been striving for sustainable development. We internalise sustainable development practices such as environmental friendliness and digital transformation as an important part of corporate strategy and promote the green development and transformation of the industrial chain, contributing to a "better and more sustainable world".
Staying committed to good quality, we continuously strive for green and sustainable development. In this regard, we act upon the international and national call of circular economy and plastic reduction initiative, encourage green consumption and promote low-carbon production and lifestyle. In 2022, we further optimised our production structure and technology, attempted to reduce plastic and packaging material consumption, introduced environmentally friendly lightweight bottles, and launched label-free products and the industry's first carbon-neutral tea beverage. Sticking to the goal of "making everything with rPET", we focused on the recycling of waste packaging. 1,100 tonnes of PET waste were recycled into rPET uniform, suitcases and other consumer goods, resulting in 19.5 tonnes of plastic waste reduction in total. This will further alleviate the impact on the ecological environment.
As a practitioner of the real economy, Master Kong is fully aware of its advantages in driving the circular economy of the value chain. It hopes to bring impact to upstream and downstream organizations through its own actions for green development along the industrial chain. As a core enterprise in the value chain, we helped suppliers develop awareness and understanding of environmentally friendly materials, in a bid to build a more sustainable supply chain. When serving consumers, we also expect to convey the concept of green and low-carbon consumption to the public, starting a new trend of healthy and environment- friendly consumption in the new era with our consumers. Additionally, we established close cooperation with business partners and organizations from all sectors to share cutting-edge green technologies and research and expand our influence in green practices outside the industry. In 2022, China's first carbon-neutral tea beverage was launched by us and became a part of consumers' green lives. We also joined hands with the United Nations Global Compact (UNGC) and other 12 companies to launch the pilot program of UNGC "GDI (Global Development Initiative) for SDG (Sustainable Development Goals)", with the aim of addressing marine plastic pollution crisis to accelerate the transition to carbon neutrality.
"A BETTER
AND MORE
SUSTAINABLE
WORLD"
Our journey to sustainability continues. Over the past few years, we have done a lot of meaningful things and set more ambitious sustainable development goals.
In the future, as a member of UNGC, Master Kong will continue to follow the UN SDGs in accelerating the green transformation. We will keep exploring sustainable use of packaging and developing low-carbon processes. By doing so, we hope to reduce plastic consumption and carbon emissions together with upstream and downstream partners and create a sustainable future for all.
Chen Yinjang
Chief Executive Officer
DESCRIPTION OF
THE REPORT
Tingyi (Cayman Islands) Holding Corp. ("Tingyi", "Master Kong","the Group", "the Company" or "us") refers to "the Global Reporting Initiative (GRI) sustainable development reporting Standards (GRI Standards)" and"the International Organization for Standardization (ISO) "ISO 26000: Guidance on Social Responsibility Guide (2010)", comprehensively sort out the management status of its own sustainable development, and took the initiative to evaluate the sustainable development issues concerned by major internal and external major stakeholders, and reviewed, evaluated and reported the progress of its corporate sustainable development work in 2022 based on the company's development strategy. For information regarding the governance section, please refer to the Corporate Governance Report as incorporated in Tingyi Holdings Co., LTD. 2022 Annual Report.
This report underpins Master Kong's actions to implement the Sustainable Development Goals (SDGs) of the United Nations as the main line, presenting Master Kong's sustained efforts and achievements in the field of sustainable development. As a leading company in China's food and beverage industry, Master Kong shoulders the mission of "Promoting Chinese Food & Beverage Culture", adheres to the vision of "Being the Most Respected Food
- Beverage Company", and upholds the sustainable development concept of "Keep Our Nature Green" when staying closely with stakeholders and actively fulfilling social responsibilities. We deeply understand the impact of our operations to different elements of economy, environment and society, and the importance of "sustainable development is good development". We continue to explore and improve our performance in sustainable development. The Company dedicates to sharing corporate values with stakeholders, enhancing social welfare and enjoying "Life + Delicacy" with them.
REPORT SCOPE:
Organizational Scope of the Report: the main office areas and regular operating plants of Tingyi (Cayman Islands) Holding Corp. in China, with no significant changes from the previous year.
Time Frame of the Report: From 1 January 2022 to 31 December 2022. For the sake of the completeness of the report, it also covers some relevant contents occurred in 2023.
REPORTING STANDARDS FOR PREPARATION:
This report mainly refers to the Sustainable Reporting Standards of the Global Reporting Initiative ("GRI Standards") and ISO 26000: Guidance on Social Responsibility (2010) of the International Organisation for Standardisation ("ISO 26000").
FORMS OF REPORT
DISTRIBUTION:
This report is published in both printed and electronic forms. Electronic reports can be found on our website www.masterkong.com.cn.
If you have any comments on our sustainability performance and this report, please send an email to sustainability@masterkong.com.cn. This report is published in both Chinese and English versions. In case of any inconsistency between the two versions, the Chinese version shall prevail.
We expect to introduce and demonstrate our true performance and achievements in sustainable development to all sectors of the society through the preparation and release of this report and highlight our contribution to the society in this field.
2022 MASTER KONG SUSTAINABILITY REPORT | 05 |
ABOUT
MASTER KONG
Tingyi (Cayman Islands) Holding Corp. is principally engaged in the production and distribution of instant noodles and beverages in the People's Republic of China ("PRC"). It was listed on the Main Board of the Stock Exchange of Hong Kong in February 1996, with its headquarters in Shanghai, China. The Company's market capitalization as of 31 December 2022 was USD 10 billion. The Company is a constituent stock of Morgan Stanley Capital International ("MSCI") China Index and Hang Seng Index. Being a leading brand in the fast-moving consumer goods industry, Master Kong holds the industry responsibility of food safety and quality guarantee. Through constantly building and improving management system, establishing risk prevention management system and implementing robust control over food safety, Master Kong makes extensive efforts to ensure product quality and safety, and provide consumers with safe, tasty and healthy products.
In the future, the Group will still lay its focus on the production and distribution of food and beverages, keep close connection with stakeholders and actively fulfill social responsibilities with the original aspiration of "Promoting Chinese Food & Beverage Culture", the purpose of "Serving Consumers", and the sustainable development concept of "Keep Our Nature Green".
The Company's market | USD 10 billion |
capitalization has reached | |
KEEP OUR NATURE GREEN
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Tingyi (Cayman Islands) Holding Corp. published this content on 31 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2023 10:13:06 UTC.