Ying Li International Real Estate LimitedSGX: 5DM

Sustainability Report 2024

Apr 8, 2025 at 4:36 PM UTC · Issued by Ying Li International Real Estate Limited

SUSTAINABILITY

REPORT

ABOUT THIS REPORT

Board Statement

The Board of Directors ("Board") recognises and values the importance of the sustainable performance of Ying Li International Real Estate Limited ("Ying Li" or the "Company" and together with its subsidiaries, the "Group") and oversight of all environmental, social and governance ("ESG") matters, including without limitation to this Ying Li Sustainability Report 2024 ("SR" or the "Report"), various ESG policies, stakeholder engagement and climate change. In order to ensure the material impacts of Ying Li are covered, the Board has the responsibility to regularly review, monitor and evaluate material ESG issues.

Reporting Scope

Ying Li publishes sustainability reports on an annual basis and they are included in Ying Li's Annual Reports ("AR").

The Report summarises Ying Li's sustainability performance from 1 January 2024 to 31 December 2024 (the "Reporting Period"). To ensure the completeness and comparability of the Report, it also includes events that occurred prior to the Reporting Period. The Report encompasses the operations and activities in Singapore headquarters and Chongqing offices, as well as investment properties and sales properties1. In 2024, the Group expanded its reporting scope to include performance data from IMIX Park JFB and IMIX Park Daping. This expansion is part of Ying Li's ongoing process to review and broaden its data collection scope across investment properties. The inclusion of additional portions of properties aims to provide a more holistic view of the Group's emissions and overall environmental impact, intending to support the Group's decision-making processes and inform strategies related to environmental performance. For reporting consistency and comparison, the data from IMIX Park JFB and IMIX Park Daping will be included in future reports.

Reporting Standards and Principles

This Report has been prepared in accordance with the Global Reporting Initiative ("GRI") Standards, the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST") (Rules 711A, 711B and Practice Note 7.6 Sustainability Reporting Guide), and Rule 13.91 and Appendix C2 Environmental, Social and Governance Reporting Guide of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited ("SEHK")2.

The GRI is widely recognised as a global standard for sustainability reporting. During the preparation for this SR, we applied the GRl's principles for defining the content and quality of the Report by considering the Group's activities, impacts, key expectations and interests of its stakeholders.

The seven principles listed below have been followed in this Report:

Stakeholder	We consider the interests of a wide range of stakeholders, mainly shareholders, investors, employees,
Inclusiveness	customers, contractors and suppliers, and regulatory authorities.
Materiality	Through a materiality assessment, we identify the environmental, social and governance-related
	topics that are most important to us and our stakeholders, and these are reliably reflected in this SR.
Sustainability	Apart from material environmental, social and governance-related factors, we also consider potential
Context	contribution to fight climate change.
Completeness	We incorporated material topics, topic boundaries, significant impacts and stakeholder feedbacks
	into this SR while adhering to the six other reporting principles to enhance its completeness.
Quantitative	We are committed to quantifying the data accurately with clarification as far as practicable.
Balance	We present the positive and negative aspects of our business in a transparent manner.
Consistency	We adhere to the same reporting approach as the previous year to ensure clarity and comparability
	for our readers.

Including portions of Ying Li International Financial Centre (IFC)/Ying Li IMIX Park Jiefangbei (IMIX Park JFB), Ying Li International Plaza/Ying Li IMIX Park Daping (IMIX Park Daping), Ying Li International Hardware and Electrical Centre (IEC), San Ya Wan Phase 2 (Lion City Garden). For the avoidance of doubt, all ESG data related to the activities of tenants and sold properties' occupants are not included in the Report.
As Ying Li is a subsidiary company of China Everbright Limited (CEL, 0165.HK). this Report also follows SEHK's rules in providing supplementary ESG information to support CEL's ESG disclosure obligations.

YING LI INTERNATIONAL REAL ESTATE LIMITED

SUSTAINABILITY

REPORT

Accessibility and Feedback

We warmly welcome your feedback on the Report and our sustainability-related approaches. Please share them with us through email to ir@yingligj.com.

Our AR and SR are accessible through our corporate website: https://www.yingligj.com/ar.

Sustainability Highlights

OUR ENVIRONMENT

352 tonnes

Carbon emissions saved in IMIX Park energy transformation project

Organised a series of

"Zero Waste

Business District"

activity to raise environmental awareness among our tenants

22%

Of our properties obtained Leadership in Energy and Environmental Design ("LEED") certification

OUR PEOPLE

55:45

female-to-male ratio is achieved to maintain gender balance

2,503

Total training hours

provided to employees

Performed

Safety Inspections

to identify potential

hazards to enhance safety

production

non-compliance case related to labour practices, human rights, and workplace health and safety

OUR CUSTOMERS

100%

Customer satisfaction rate

Launched the

IFC Shared Space

to meet the evolving customer needs and create new experience

Won the

"2024 TOP TEN OPERATION

MANAGEMENT

LANDMARK BUILDING"

OUR COMMUNITY

Raised >RMB20,000

in the "Delivering Warmth and Hope" projects to provide daily and educational necessities to children in need

Initiated the

TAG charity projects

to connect social efforts in launching community projects

Continued to

boost rural revitalisation

by industry support, talent training and consumer assistance

56 ANNUAL REPORT 2024

SUSTAINABILITY

REPORT

OUR SUSTAINABLE GOVERNANCE

A robust governance structure lays the foundation for the long-term business success and development of the Group. The Board oversees the Group's strategic direction and business operations. Under its leadership, the Group operates in strict compliance with all relevant laws, regulations and established codes and standards.

Governance Structure

The Board of Ying Li remains the highest governance body of the Group, ensuring operations adhere to the highest ethical standards. Responsible for defining the Group's strategic targets, the Board is committed to safeguarding shareholder value while integrating sustainability considerations into strategic planning. To assist the Board in executing its responsibilities, four dedicated Committees, namely Remuneration Committee, Audit Committee, Nominating Committee and Risk Management Committee, have been established. For further details on the Group's corporate governance practices, please refer to the "Corporate Governance Report" in the 2024 Annual Report.

Sustainability Governance Structure

The Group's commitment to sustainability commences from the top, where a robust sustainability governance framework is established, outlining clear accountabilities, roles and responsibilities to foster effective communication and implementation of sustainability strategies across departments. Guided by the Board, the Management Decision Committee (管理决策委员会) and the ESG Working Group play pivotal roles in advancing Ying Li's sustainability initiatives and commitments.

As the highest governance body of the Group, the Board is responsible for leading and supervising the Group's sustainability strategies to ensure they align with the best interests of the Company and its stakeholders. To facilitate informed decision-making, the Board had participated in trainings focused on sustainability-related topics, enhancing their knowledge to effectively integrate sustainability considerations into the Group's long-term planning.

To bolster effective sustainable management, relevant sustainability-related criteria and key performance indicators have been included in the performance appraisal of the senior management, which is directly linked to the remuneration

assessment.

Sustainability Governance Structure of Ying Li

Reporting

Supervising

Formulate and develop the Group's ESG strategies and policies

		Board	•	Oversee the materiality assessment process and approve the result
		of	•	Oversee and approve the Sustainability Report
		Directors
	Monitoring					• Incorporate ESG factors into the decision-making process
					• Review the sustainability initiatives and identify areas for
	Management		improvement
		Decision		• Report to the Board on significant sustainable issues and
and		Committee		decisions when necessary

					• Corporate Social Responsibility ("CSR") Coordinator is

						responsible for organising the CSR efforts across
						departments and subsidiaries
						• Monitor the implementation of various sustainable
		ESG Working Group	development measures

Responsible for the preparation of the Sustainability Report
- Execute and implement the sustainability initiatives set by the Group
- Report material ESG issues identified during daily operations

Functional Departments	• Cooperate in promoting the Group's ESG
		commitment to stakeholders

YING LI INTERNATIONAL REAL ESTATE LIMITED

SUSTAINABILITY

REPORT

Sustainability Strategy

Sustainability lies at the heart of Ying Li's operations and will remain a fundamental aspect of the Group's decision- making processes. Our sustainability strategy aims to steer our business ethically, socially, and environmentally, and to create shared value for our stakeholders. We are committed to the following focused areas to achieve our sustainability

vision and enhance our sustainable performance.

Green Development

We strive to promote low-carbon and green business operation, focusing on energy transformation and the implementation of energy- efficient designs to reduce our carbon footprint.

Environmental Sustainability

We ensure that our business operations and development have minimal adverse impact on the environment. We prioritise sustainability by adopting measures related to energy use, water use, waste management, and climate change.

Operational Safety

We place strong emphasis on the health and safety of our employees and contractors, implementing stringent safety measures and protocols, ensuring regular monitoring to

minimise the risk of work-related injuries.

Employee Motivation

We value the well-being, growth, and development of our employees, creating a safe, inclusive, and harmonious working environment. Furthermore, we emphasise talent cultivation and development to provide opportunities for skill enhancement.

Sustainability Policies

Sustainability-related policies and guidelines serve as the foundation in standardising and regulating our practices, guiding the Group's long-term sustainability direction. Listed below are some of the key sustainability-related policies

and guidelines:

Environmental and Social

Energy Management Policy (能源管理制度)
Human Resources Management Policy (人事管理政策)
Employee Training Management Policy (公司培训管理制度)
Safety Management Policy (安全技术管理政策)
Safety and Equipment Management Policy (公司安全生产管理制度)
Design Management Policy (设计管理制度)
Construction Application Management Policy (开发报建管理制度)
Engineering Management Policy (工程管理制度)
Supplier Management Policy (供方管理制度)

Governance

Organisation Structure and Employee Responsibilities Policy (组织架构及岗位职责汇编)
Integrity Risk Prevention and Control Manual for Key Positions in Focus Area (重点领域关键岗位廉洁风险防控手册)
Whistleblowing Policy (举报制度)
Measures for the Management of Company Confidential Information (公司保密信息管理办法)
Accountability System for Violations (违规问责办法)

58 ANNUAL REPORT 2024

SUSTAINABILITY

REPORT

OUR MATERIALITY APPROACH

Stakeholder Engagement

Ying Li truly recognises that feedback from stakeholders is valuable to our business development as well as sustainability performance. Therefore, we have set up various engagement channels to enable regular communication with stakeholders to have a better understanding of their expectations regarding the impacts on the economy, environment and society, as well as to evaluate the efficacy of our sustainability priorities and measures.

The table below shows how our approach and rationale is set out against different stakeholders and the feedback we have received from them.

STAKEHOLDERS	HOW WE LISTEN	WHY WE DO IT	WHAT YOU'VE TOLD US
Contractors and	•	Regular project meetings	•	Ensure construction/	• Ability to meet the
suppliers	•	Periodic evaluations on		maintenance/renovation		Group's quality standards
		supplier performance		projects are completed on		and delivery timelines
				time, with quality, and at a
				reasonable cost

Customers	•	Feedback	•	Ensure customer	•	Optimise customer
	•	Company website		satisfaction is upheld		service
			•	Ensure service standards	•	Emergency preparedness

Employees	•	Internal updates and	•	Improve employee	•	Health and safety
		communication		capabilities through	•	Career progression
	•	Events and functions		internal and external	•	Benefts and rewards
				trainings	•	External and internal
			•	Improve employee well-		courses
				being through managing
				their health and safety

Regulatory	•	Regular updates and	•	Adhere to environmental	•	Compliance with relevant
authorities		communication		regulations for		laws and regulations
	•	Reports and compliance		construction/maintenance/
	•	Periodical meetings with		renovation projects
		government bodies	•	Active participation in
				SGX-ST events to increase
				visibility and transparency

Shareholders and	•	SGX-ST announcements	•	Committed to delivering	•	Long-term proftability
investors	•	Shareholder meetings		economic value to our	•	Sustainability matters
	•	Annual reports		capital providers through	•	Group performance
	•	Company's website		a strong fnancial		against targets
	•	Regular updates and		performance and our	•	Compliance with all
		communication		diverse methods of		relevant requirements
				engagement

YING LI INTERNATIONAL REAL ESTATE LIMITED

SUSTAINABILITY

REPORT

Materiality Assessment

The Group acknowledges and values stakeholders' concerns and expectations regarding the Group's ESG issues. In 2023, the Group has engaged an independent third-party consultant to identify and develop material sustainability issues based on their importance and relevance to the Group. This was followed by a stakeholder engagement survey to gauge feedback from both internal and external stakeholders, including employees, contractors and suppliers, customers, regulatory authorities, shareholders and investors. We are committed to aligning our responses and disclosures with the critical concerns raised by our stakeholders.

Based on the outcome and considering that there have been no significant change in the Group's business operations and development, the Group maintains that the 21 identified material issues remain valid for 2024. Meanwhile, an internal review has been performed to validate and confirm the relative importance of each material topics.

The materiality assessment process is summarised as below.

Identify

Rate

Prioritise

Validate

Review

Identifying

Rating

Prioritising

Validating

Reviewing

material

the

material

the

through 2024

ESG Issues

significance

issues

result

lens

21 material issues

The actual and

A materiality

The result of

The established

have been identified

potential impacts

matrix is developed

the materiality

materiality matrix

by reference to

from the identified

based on two

assessment is

and process has

the GRI Standards,

ESG issues are

key dimensions:

then reviewed and

been reviewed by the

international

determined

"importance to

approved by the

Group to ensure it

trends and peer

through an online

stakeholders" and

Board, which serves

remains valid in the

benchmarking,

questionnaire,

"relevance to the

as a crucial reference

context of current

reflecting the

covering internal

Group" to provide

for the disclosures in

and future business

dynamic operating

and external

a comprehensive

the Report and long-

operations and

environment of the

stakeholders to

overview of the

term sustainability

development.

Group.

gather their insights

prioritisation of

strategy

into the significance

material issues.

development.

of ESG issues and

their associated

impacts.

60 ANNUAL REPORT 2024

SUSTAINABILITY

REPORT

2024 Ying Li ESG Factors Materiality Matrix

HIGH

Importance to Stakeholders

				20
			3
			7
				21	9
1		17	15	13
	4
	11

		5	3	18	10
			6
			8	14,16
	2		12

				19

LOW						HIGH
Relevance to Ying Li
Environmental	Corporate Governance	Employee	Sustainable Supply Chain	Operational
MATERIALITY	NO.	ESG FACTORS			TOPICS

High	9	Compliance Employment		Employee
	20	Business Ethics and Anti-Corruption		Corporate Governance
	21	Corporate Governance and Risk Management	Corporate Governance
Medium	3	Energy-Saving Design			Environmental
	5	Energy Efficiency			Environmental
	6	Water Conservation			Environmental
	7	Waste Management			Environmental
	8	Employee Remuneration and Benefts	Employee
	10	Occupational Safety and Health		Employee
	11	Skills Competency and Employee Training	Employee
	13	Responsible Supply Chain		Sustainable Supply Chain
	14	Managing Contractors			Sustainable Supply Chain
	15	Green Leasing			Operational
	16	Product and Service Quality		Operational
	17	Marketing and Promotion		Operational
	18	Customer Privacy Protection		Operational
Low	1	Climate-Related Risk and Opportunities	Environmental
	2	Green Construction			Environmental
	4	Managing Our Carbon Footprint		Environmental
	12	Employee Diversity and Inclusion		Employee
	19	Community Engagement and Social Welfare	Operational

YING LI INTERNATIONAL REAL ESTATE LIMITED

SUSTAINABILITY

REPORT

Sustainability Targets

We have set up sustainability goals for Ying Li below, according to the identified ESG factors with "High" or "Medium" materiality. Relevant ESG performance data are available in Appendix A: Sustainability Scorecard.

MATERIAL FACTORS	SHORT-TERM TARGET	LONG-TERM TARGET	VALUE CREATED

Energy-Saving Design	To introduce energy-	To prioritise energy-	• Maximised energy
	saving intelligent	saving designs in our	saving starting from
	transformation project.	projects.	the design stage by seeking
			LEED certifcation for our
			portfolio as far as practicable.

Energy Efficiency	To introduce energy-	To adopt energy-saving
	saving intelligent	installations and enforce
	transformation project.	energy-saving policies
		within the offices,
		malls and development
		projects.

Installed intelligent energy-saving control system to reduce energy consumption.

Water Conservation	To reduce the water	To adopt water-saving
	consumption within	installations and enforce
	office areas and managed	water-saving policies
	properties.	within the offices,
		malls and development
		projects.

Installed water-efficient fttings and water meters and raised awareness among stakeholders to conserve water.

Waste Management	To reduce waste generation and improve waste
	diversion.

Adhere to the local regulations on waste segregation, collection and disposal.
Promote reduce, reuse and recycle in offices and managed properties.

Compliance	To avoid violations of employment-related laws and
Employment	regulations.

No confrmed cases of non-compliance in relation to labour standards during the Reporting Period.

Employee Remuneration	To ensure 100%	To improve employee	•	Established robust
and Benefits	employees have	retention rate and		mechanisms to review
	conducted performance	conduct performance		employee benefts.
	review.	appraisals annually.	•	100% of employees
				were subjected to
				performance appraisal during
				the Reporting Period.

62 ANNUAL REPORT 2024

SUSTAINABILITY

REPORT

MATERIAL FACTORS	SHORT-TERM TARGET	LONG-TERM TARGET	VALUE CREATED

Occupational Safety	To avoid work-related employee injuries and fatalities.	• Established a
and Health			comprehensive safety
			production mechanism to
			ensure the highest safety
			standard is applied.

• Zero work-related employee injuries and fatalities during the Reporting Period.

Skills Competency and	To ensure all employees
Employee Training	received training courses
	in raising their skills
	competency.

To provide a wide	• Procedures in place
range of training types	for setting up internal
to enhance employee	trainings and subsidies
competency.	available for external
	trainings.

Green Leasing	To promote sustainability	To establish formal	• Raise awareness of
	practices in tenants.	tenant engagement to	tenants by promoting
		collaboratively enhance	sustainability and the Group's
		ESG performance.	environmental initiatives.

Product and	To ensure zero violations of construction-related laws
Service Quality	and regulations.

Employed project management system from pre-construction to post- construction to ensure high standards of construction.
Zero violations of construction-related laws and regulations during the Reporting Period.

Marketing and	To ensure zero violations of marketing laws and
Promotion	regulations.

Established the Compendium of Asset Sales Management Systems (资
产销售管理制度汇编) for responsible marketing.
Zero violations of marketing laws and regulations during the Reporting Period.

Customer Privacy	To maintain zero information security incidents.
Protection

Implemented stringent guidelines to standardise the management of confdentiality for the Group's materials and information.
Zero information
security incidents during the Reporting Period.

YING LI INTERNATIONAL REAL ESTATE LIMITED

SUSTAINABILITY

REPORT

MATERIAL FACTORS	SHORT-TERM TARGET	LONG-TERM TARGET	VALUE CREATED

Responsible Supply Chain	To promote and monitor	To prioritise	•	Established strict
	sustainable practices of	environmentally and		guidelines as part of our
	suppliers.	socially responsible		supplier management to
		suppliers.		ensure the quality of their
				products and services.

Managing Contractors	To ensure contractors	To ensure	•	Established strict
	strictly follow the	environmentally and		guidelines as part of our
	Engineering Management	socially responsible		contractor management to
	Policy and related laws	actions are taken by		ensure the quality of their
	and regulations.	contractors.		products and services.

Business Ethics and	To maintain zero corruption cases and no violations of	•	Implemented clear
Anti-Corruption	business compliance.			guidelines for a robust
				internal control system
				and for the employees to
				understand the importance
				of business integrity.

Corporate Governance	To ensure strong adherence to corporate governance	• Set up and regularly
and Risk Management	and risk management practices.		reviewed the "three lines of
				defence" mechanism for risk
				management.

MEMBERSHIP ASSOCIATIONS

Ying Li continues to participate in professional organisations to keep abreast of the latest laws and regulations, industry trends and the best practices in its operations. The table below lists the Group's memberships and participation in the industry and professional bodies.

INSTITUTION	CLASS OF MEMBERSHIP

Singapore Business Federation	Corporate Member

Enterprise Institute for Internal Controls and Anti-Fraud Alliance	Corporate Member
(企业内控协会暨反舞弊联盟)

Chongqing Yuzhong District Tax Institute (重庆市渝中区税务学会)	Council Member

Chongqing Yuzhong District Taxation Research Institute	Council Member
(重庆市渝中区国际税收研究会)

Chongqing Jiefangbei Central Business District Enterprise Association	Vice President
(重庆市解放碑中央商务区企业协会)

SingCham of Chongqing	Corporate Member

64 ANNUAL REPORT 2024

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