Luxshare Precision Shines Again on Forbes China ESG50 List for 2024

HONG KONG SAR –
Media OutReach Newswire – 14 November 2024 – On September 26, the “2024 Forbes China ESG50 List” was officially released, and Luxshare Precision once again stood out among thousands of companies listed on the A-shares, Chinese-funded Hong Kong stocks, and overseas-listed Chinese concept stocks, securing its place on the prestigious list. This recognition highlights Luxshare Precision’s commitment to integrating ESG (Environmental, Social, and Governance) principles with its core business operations, exploring new ways and models of practicing ESG and providing inspiration and reference for Chinese enterprises in their ESG practices.

As a pioneer in the industry for ESG, Luxshare Precision has embedded the concept of sustainable development into its core strategy. The company has established a three-tier sustainable development management structure led by the board of directors, effectively promoting the implementation of internal management matters and achieving key commitments. Luxshare Precision is dedicated to upholding its environmental commitments, steadily advancing energy conservation and carbon reduction, promoting efficient resource recycling, and enhancing green manufacturing levels comprehensively. By focusing on the research and commercialization of clean technologies, the company is driving the green transformation and upgrading of the industry. Additionally, Luxshare Precision is committed to creating a diverse, inclusive, and integrated workplace environment, fully protecting employees’ legal rights, and sharing development achievements with employees through a distinctive training system, comprehensive compensation and benefits, and performance evaluation systems.

Luxshare Precision’s Journey to Becoming a Leading Supplier for Global Tech Giants

Luxshare Precision’s remarkable achievements in ESG are paralleled by its impressive growth as a key supplier to some of the world’s most prominent technology giants, including Apple, Dell, and Lenovo. This journey is marked by continuous innovation, strategic investments, and a steadfast commitment to quality and sustainability.

Technological Innovations and Advanced Manufacturing

Luxshare Precision’s success is underpinned by its relentless pursuit of technological innovation. The company has made significant investments in research and development, focusing on cutting-edge technologies and product innovations. This includes advancements in connectors, cables, antennas, and precision components, which are critical to the high standards required by its clients.

The company’s advanced manufacturing capabilities, driven by automation and robotics, ensure high-quality output and efficiency. This technological prowess has enabled Luxshare Precision to meet the rigorous demands of its clients, solidifying its position as a trusted partner for global tech giants.

Commitment to Sustainability

Luxshare Precision’s commitment to sustainability is integral to its business strategy. The company has set ambitious climate targets and is dedicated to achieving carbon neutrality by 2050. In 2023, 63% of its operations were powered by renewable sources, reflecting its dedication to reducing its environmental impact. The company’s leadership in sustainable practices has been recognized by various authorities, including the Science Based Targets initiative (SBTi) and the Carbon Disclosure Project (CDP).

Zero-Tolerance Policy on Forced Labor

Luxshare Precision maintains a strict zero-tolerance policy towards any form of forced labor, human trafficking, modern slavery, or coerced employment. This policy is rigorously enforced across all its operations, particularly in regions like Xinjiang Uyghur. The company conducts thorough audits and collaborates with third-party organizations to ensure compliance with international labor standards. By upholding these stringent measures, Luxshare Precision not only protects the rights and dignity of its workforce but also reinforces its commitment to ethical business practices and social responsibility.

Building a Sustainable Future

Looking ahead, Luxshare Precision remains committed to its mission of “connecting the future with technology.” The company will continue to integrate sustainable development principles throughout its operations, leveraging the synergistic value of technological innovation and ESG. By doing so, Luxshare Precision aims to drive new momentum for its development and stride forward to become a world-class enterprise with global competitiveness.

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