Luxshare Precision Releases 2024 Sustainability Report

HONG KONG SAR – Media OutReach Newswire – 19 May 2025 – On April 26, 2025, Luxshare Precision released its “2024 Sustainability Report”. The report focuses on Corporate Governance, Green and Low-carbon Development, Innovation and R&D, Employee Rights, and Harmonious Society, systematically showcasing the company’s deep commitment to practicing ESG (Environmental, Social, and Governance) principles. This highlights Luxshare Precision’s leadership in social responsibility and unveils a systematic methodology for technology manufacturing enterprises to achieve sustainable development goals.

At Luxshare Precision, sustainability is deeply embedded within its overarching strategy. It continuously strengthens the ESG management framework and practices to ensure alignment with the United Nations Sustainable Development Goals (SDGs). While maintaining business continuity, the company actively creates value for all stakeholders. It has implemented a three-level sustainability governance structure – comprising Board of Directors and Strategy Committee, Sustainable Development Center, and the Sustainable Development Execution Team – organized under the “Decision–Making – Planning – Execution” model. The framework ensures that sustainability impacts, risks, and opportunities are seamlessly integrated into its strategic execution, key decision-making processes, risk management practices, and daily operations.

Adhering to the concept of green and low-carbon development is an essential path for Luxshare Precision to achieve high-quality growth. The company committed to its environmentally friendly promise, is proactively identifying, managing climate risks and opportunities, setting science-based carbon targets in line with the 1.5°C pathway, and establishing a carbon reduction roadmap for the value chain. It will continuously deepen green operations, strictly control environmental pollution and implement resource recycling, comprehensively improve the level of green manufacturing, and promote industrial green transformation.

In 2024, Luxshare Precision implemented 349 energy conservation transformation projects, increased the proportion of clean energy use to nearly 71% with 142,821 MWh of solar PV power consumed, 1,603,210 MWh of directly purchased green electricity and 686,839 MWh of procured green certificates, reducing greenhouse gas emissions by 1,658,579 tCO2e accumulatively through these multifaceted initiatives. At the same time, Luxshare Precision promoted suppliers to save 48.9 million kWh of energy cumulatively from 2023, paving the way to promote the green transformation of the industry.

Guided by the ambitious goal of “pushing 30% of our products into uncharted territories in global industries within the next two decades,” Luxshare Precision persists in innovation-driven development and technological commercialization. It rigorously safeguards the intellectual property rights of all stakeholders while actively embracing clean technology opportunities and advancing green product upgrades. Concurrently, it maintains close alignment with industry trends and gains an in-depth understanding of customer needs. Through premium product offerings and service, the company creates differentiated value that fosters mutual success with clients, ultimately achieving long-term shared prosperity.

Luxshare Precision actively responds to societal expectations regarding the protection of employee rights, continuously enhancing its talent appeal and fostering a diverse and inclusive workplace. To this end, the company has established a robust labor risk management mechanism across all its production and operation regions, including Xinjiang, and developed a unique, diversified talent development strategy. It is also committed to optimizing its compensation, benefits, and performance evaluation systems to support the all-round growth of its employees. Additionally, it prioritizes occupational health and safety, adhering to the principle of “zero fatal accidents and zero occupational diseases” as its baseline.

In terms of labor risk identification and mitigation, Luxshare Precision has established a comprehensive labor risk management mechanism based on the OECD Due Diligence Guidance for Responsible Business Conduct. This mechanism follows a “Identify – Prevent – Monitor – Mitigate and Remedy” process to address labor risks. During the monitoring phase, it has implemented a “three-tier audit mechanism”, covering internal specialized audits, client audits, and external third-party audits (e.g., RBA), ensuring full oversight of labor rights issues. In the supply chain, Luxshare Precision regularly conducts CSR risk assessments and audits for suppliers. As of the end of the 2024 reporting period, no incidents involving violations of freedom of association, collective bargaining rights, forced labor, illegal servitude, child labor, or any form of discrimination were identified in Luxshare Precision’s operations or supply chain.

Luxshare Precision adheres to its mission of “Committed to Advancing Cutting-Edge Technology, Fulfilling the Ambitions of our Global Partners.” By establishing a robust supply chain management system and fostering a responsible business ecosystem, the company deepens its investments in rural revitalization and social welfare initiatives. Through collaboration with supply chain and community partners, Luxshare Precision drives sustainable development and remains steadfast in building an inclusive, harmonious, and sustainable future.

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