赛力斯(601127)_公司公告_赛力斯：2024年度环境、社会及管治(ESG)报告(英文版)_公司公告

赛力斯：2024年度环境、社会及管治(ESG)报告(英文版)（下载公告）
公告日期:2025-04-01
Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities 2024Environmental, Social, and Governance ReportSeres Group Co., Ltd. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Message from the Chairman Dear Partners and Friends,As the world accelerates toward sustainable development, Seres,as an explorer and practitioner in the new energy vehicle industry,remains unwavering in integrating environmental, social, andgovernance (ESG) principles into every facet of our corporate growth.For Seres, 2024 was a pivotal year of deepening ESG practices andactively fullling our Group social responsibilities, demonstrating oursteadfast commitment to sustainability through concrete actions.In 2024, Seres raced ahead on the track of technological innovation,delving into low-carbon technologies and developing eco-friendlyproducts to drive the transformation of automotive energy. Ourindependently developed Super Range Extender System, aftermultiple iterations, has been applied to models such as the AITOM9, M7, and M5. This breakthrough marks a transformative shiftfrom traditional “vehicle-oriented” to cutting-edge “user-oriented”development. Through deep optimization of hardware and softwareand seamless integration with smart technologies, we have not onlysignificantly enhanced vehicle performance and energy efficiency but also delivered an unparalleled driving experience. In 2024,Seres sold 426,885 new energy vehicles, a year-on-year increaseof 182.84%, which demonstrates the market’s recognition of ourtechnological innovations. We firmly believe that technologicaladvancement is not only the core driving force of new qualityproductivity but also a fundamental requirement for ESG practices.Through innovation, Seres is turning the dream of green mobility intoreality, contributing indispensable strength to the global ght againstclimate change.In green manufacturing field, we actively uphold advanced low-carbon development principles, setting ambitious carbon goals: “peaking emissions by 2030 and achieving carbon neutrality inproduction and operations by 2045, with near-zero emissions acrossthe entire value chain”. We are committed to energy conservationand emission reduction at every stage, from procurement andproduction to logistics and storage, setting a benchmark for low-carbon management in the automotive industry. Our smart factory,built according to national “Green Factory” standards, featuresrooftop photovoltaic stations with a total capacity exceeding 100MW, with cumulative power generation exceeding 80 million kWhand reducing CO emissions by approximately 70,000 tons. We aresteadily advancing our second-phase solar project, which will reach John ZhangChairman of Seres Group Co., Ltd. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities 200 MW, producing 170 million kWh annually and cutting 140,000tons of CO emissions—equivalent to planting more than 10 milliontrees. At the beginning of 2024, we inaugurated the Seres SuperFactory, a global benchmark under the “Automotive Industry Brain”ecosystem. It employs forward-looking eco-friendly technologies,achieving a 100% compliance rate in three wastes discharge, whileensuring proper disposal of all waste to minimize pollution andactively promoting energy recycling, with the wastewater treatmentplant reusing up to 200,000 tons of reclaimed water annually.In Group governance field, we have established a moderngovernance structure, embedding ESG principles into decision-making, operations, and oversight. We adhere to compliance,safeguard the rights of stakeholders—including shareholders,partners, employees, and users—and foster a transparent,fair, and sustainable corporate environment. Through cross-sector collaboration with industry leaders like Huawei and byestablishing an innovative "1+1+N" cooperative ecosystem with top- tier supply chain partners, we have achieved high integration ofcomponents and localized supplier clusters. This innovative modelenhances supply chain stability and e?ciency while ensuring strictenvironmental standards in procurement and production, drivinggreen upgrades across the industry.Additionally, Seres is dedicated to giving back to society, and activelyfullls social responsibility. Guided by a people-centric philosophy,we prioritize employee growth and development, offering robustcareer platforms, favorable working environment, and abundantdevelopment opportunity. We also actively engage in philanthropy,supporting rural revitalization, disaster relief, and education. Westrive to contribute to social progress. We firmly believe that aGroup’s growth is inseparable from societal support, and only byactively giving back can we achieve shared prosperity for bothbusiness and society. In 2024, our charitable donations totaled RMB 10.3397 million, with 5,600 volunteer hours logged. Looking ahead, Seres will continue to embed ESG into our long-term strategy, and be committed to longtermism and high-qualitydevelopment. We will keep to invest to further enhance technologicalinnovation ability to deliver superior, greener, and smarter NEVs forcustomers. We will further strengthen collaboration with upstreamand downstream partners in the industrial chain, working togetherto drive the ourishing development of green industries, contributemore wisdom and strength to global low-carbon mobility, and writean even brighter chapter in advancing sustainable socio-economicdevelopment.We extend our deepest gratitude to every partner, employee, andfriend from all sectors of society for their trust and support of Seres.Let us join hands and march forward toward a more sustainable andpromising future! Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesAbout this ReportThis is the third Environmental, Social and Governance Report(“ESG Report” “this report”) published by Seres Group Co., Ltd.to respond to stakeholders’ expectations and to demonstrate theGroup’s philosophy, management, actions and effectiveness inenvironmental, social, corporate governance and sustainabledevelopment. Reporting Scope Explanation of References Access to this Report Disclaimers Time FrameReporting Standards Data Sources The information and data disclosed in this report cover the SeresGroup Co., Ltd. and its main subsidiaries included in the annualreport. The key nancial data and the scope covered in the reportare consistent with the 2024 Annual Report of Seres Group Co., Ltd. For the convenience of expression and reading, Seres Group Co.,Ltd. is referred to as “Seres Group”, “Seres”, “the Group”, and “we”in this report. Our important subsidiary, Seres Automobile Co., Ltd.is referred to as, “Seres Automobile”, Seres Automobile (Hubei) Co.,Ltd. as “Hubei Seres” (formerly known as “Dongfeng Sokon MotorCo., Ltd.”), Chongqing Ruichi Automobile Industry Co., Ltd. as “RuichiElectric”, Chongqing Jinkang Powertrain New Energy Co., Ltd. as“Jinkang Power”, Chongqing Xiaokang Power Co., Ltd. as “XiaokangPower”, Chongqing Xiaokang Auto Parts Co., Ltd. as “Xiaokang AutoParts”, and Luzhou Rongda Intelligent Transmission Co., Ltd. as“Luzhou Rongda”. You can download the English and Chinese versions of this reportfrom the official websites of Seres Group (https://www.seres.com.cn/) and the Shanghai Stock Exchange (http://english.sse.com.cn/).In case of any inconsistency in the versions, the Chinese versionshall prevail. Certain statements in this report are forward-looking statementsabout our goals and plans for the future. Uncertainties and otherfactors that may cause our actual results to be materially di?erentfrom those expressed or implied by the forward-looking statements.The Group is under no obligation to update any forward-lookingstatements contained in this report. This report covers the period from January 1, 2024 to December31, 2024 (hereinafter referred to as the “the reporting period”, “thecurrent year”, “2024”), with some proper retrospective references toprevious years. SDGs，Sustainable Development Goals, or United Nations Sustainable Development Goals, are 17 global development goals set by the United Nations to guide global development from 2015-2030. This report is prepared with reference to the requirements ofGuidelines No. 14 of Shanghai Stock Exchange for Self-Regulationof Listed Companies—Sustainability Report (Trial), and the UnitedNations Sustainable Development Goals (SDGs) , as well as therealities of Seres Group Co., Ltd. The information and data quoted in this report are obtained fromthe official documents, statistical reports and financial reports ofSeres Group Co., Ltd., and have been compiled, summarized andreviewed by the relevant departments. Unless otherwise specied,“yuan” in this report refers to “RMB”. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities About the GroupFounded in 1986, Seres Group Co., Ltd. is a listed A-share company(stock code: 601127) specializing in intelligent electric vehicles,ranks among the top 500 Chinese enterprises. Our core businesscovers the research, development, manufacturing, sales, andservice of smart electric vehicles and key EIC technologies.We continue to strengthen our foundation through investment inR&D (Research and Development), driving innovation and high-quality growth. In 2024, our R&D expenses were RMB 7.053 billion,with a year - on - year growth of 58.91%. This led to the successfulmass production of models like the AITO M9, M9 Large Five-Seater,New M7 Ultra, New M7 Pro, and E5 PLUS. These achievementsreflect our growing brand influence and leadership in the industry.We possess leading intelligent manufacturing capabilities. Ourmanufacturing capabilities are powered by the Seres SmartFactory, which integrates over 5,000 robots and advancedtechnologies such as IoT, big data, digital twins, 5G, AI, and BIM.By integrating advanced manufacturing technologies with ICT,we ensure efficient, high-quality production with our cutting-edgeintelligent manufacturing strength. Our main product lineup includesthe premium AITO series and BlueElectric new energy vehicles,designed to meet diverse customer needs. In 2024, we completedthe mass production and delivery of models such as the AITO NewM5, AITO New M7, and AITO M9. AITO has won the rst place in theNet Promoter Score (NPS) of new energy vehicle brands. In 2024, the Group's annual production of automotive productsreached 496,431 vehicles, and the annual sales volume was497,008 vehicles. Among them, the annual production of new energyvehicles was 429,459 vehicles, and the annual sales volume was426,885 vehicles. the Group's operating revenue amounted to RMB 145.176 billion, representing a year-on-year increase of 305.04%. Both the production and sales volume of new energy vehicles andthe company's business performance reached new highs. In 2024, the Group's annual productionof automotive products reached496,431 vehiclesand the annual sales volume was497,008 vehiclesthe Group's operating revenue amounted to RMB 145.176 billion Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities ●Seres and China AutomotiveEngineering Research Instituteestablished a Smart Safety JointLaboratory ● 10,000-ton integrated die-castingmachine put into production ●Seres featured on the front page ofPeople’s Daily, with over 80 reportsfrom three major state media outletsthroughout the year ●The 400,000th AITO vehicle rolled o?the production line, making AITO thefastest Chinese NEV brand to reachthis milestone ●Seres selected for China MediaGroup’s “Brand Power Project,” andAITO became its Strategic Partner forAutomotive Excellence ●Seres signed an investment agreementwith Huawei ●Seres released its fundamentalguidelines ● AITO showcased at theGuangzhou Auto Show ●Next-generation Seres SuperRange-Extender Systemunveiled ●Seres launched a global campusrecruitment, strengthening talentdevelopment to drive innovation Major Events in 2024 A Smart Transformation onthe Path to Luxury Growth February March ●Q1 2024 net prot attributable tothe parent company shareholdersreached RMB 0.22 billion, makingSeres the fourth globally protablenew energy vehicle (NEV) company ●Seres Super Factory completedand put into operation ●First batch of AITO M9 deliveriescompleted April May June ●Seres included in four major stockindices ●AITO M9 ranked No.1 in luxuryvehicle sales above RMB 500,000for nine consecutive months July August ●AITO showcased at the Beijing AutoShow ●Seres MF Technical Platform madeits debut ●Seres and supply chain partnershosted 16 technical exchangeexhibitions ●Seres range extenders set a newsales record, reaching 475,486 units ●AITO’s cumulative smart drivingmileage exceeded 1.05 billionkilometers, with over 360,000 smartdriving users ●AITO’s smart service systemproactively cared users over 18,000times, saving more than 120,000hours in maintenance time In 2024 ●AITO made its debut at the Paris AutoShow ●E5 PLUS launched ●AITO became the o?cial partner ofChina’s national rhythmic gymnasticsteam ●Seres Q3 nancial report: revenueexceeded 100 billion yuan, with anet prot attributable to the parentcompany shareholders of RMB 4.038billion in the rst three quarters September October December November ●“AITO Across Mountains andRivers - Smart Driving Tour inEurope” launched, spanning fromfactory oors to auto shows, fromChongqing to Paris ●Seres and Huawei Digital Powerintroduced the world’s highest-altitude EV supercharging stationat Mount Everest ●Seres Super Factory launched theworld’s rst intelligent logistics hub Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesSDGs Response Chapter TitleUN SDGsCommitments and Key ActionsIntegrity Governance,Steady Development We deeply integrate ESG governance in our development and operations. By strengthening compliance management, enhancing internalcontrols, and improving risk management, we aim to uphold the highest standards of business ethics, and build a stable, transparent, andsustainable corporate environment.Innovation-Driven,Excellence inProducts Innovation is at the core of everything we do. We are dedicated to developing an automotive ecosystem that embraces the Internet ofEverything, while advancing a low-carbon technology framework. By leveraging cutting-edge electric and range-extending technologies,we actively work to reduce our carbon footprint. We prioritize the protection of intellectual property, maintain strict quality and safetystandards, enhance customer service, safeguard user information and privacy, and continuously improve user satisfaction. Low-CarbonOperations, GreenFuture We have set medium- and long-term dual-carbon goals, responding to carbon targets and a “dual-carbon” strategy. Our approach focuseson both enhancing climate risk resilience and seizing climate-related opportunities. Sustainability is embedded across every stage of ouroperations—from product design, procurement, and material usage to manufacturing, logistics, supply chain management, sales, andrecycling. In particular, we work closely with partners to build a green industrial chain, aiming to reduce the carbon footprint throughout aproduct's entire lifecycle. By encouraging all participants in our ecosystem to take on social responsibilities, we are fostering a culture ofgreen innovation.We participated in global climate initiatives such as COP29 and the Belt and Road Green and Low-Carbon Development Dialogue,showcasing China’s new energy vehicle (NEV) innovations and Sere’s contributions to the global transition towards green transportationenergy. Committed to low-carbon operations, we build a sustainable NEV industry ecosystem, working together to create a greener future.Diversity & Inclusion,Talent Care We are committed to creating a fair, inclusive, and diverse work environment, where every employee is respected and given equalopportunities to grow. Our focus is on attracting and retaining top talent while empowering employees through diverse training anddevelopment programs. We prioritize employee rights and well-being, ensuring occupational health and safety while fostering the sharedgrowth between our people and the Group.Responsible SupplyChain, ThrivingCommunities We are committed to building an e?cient, sustainable, and responsible supply chain. By working closely with our partners, we strive tocreate mutual benets and long-term success. Beyond business, we actively contribute to community development, focusing on ruralrevitalization, educational philanthropy, and other public welfare initiatives, demonstrating our corporate social responsibility throughconcrete actions. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities2024 Honorary Awards HonoraryAward WinnerIssued by Merged into Seres Automobile Co., Ltd., in 2024. Typical Case of Technological and IndustrialInnovation in Private Enterprises(Private Enterprise Industrial Innovation) Seres Group Co., LtdAll-China Federation of Industry and Commerce 2024 Typical Application Case of FunctionalSafety in Intelligent Connected Vehicles (ICV)(Functional Safety Operation Monitoring Platform)Chongqing Seres New EnergyVehicle Design Institute Co., Ltd. China Society of Automotive Engineers(SAE-China), National Innovation Center ofIntelligent and Connected Vehicles Second Prize of the China Society ofAutomotive Engineers (SAE) Scienceand Technology Progress Award China Society of Automotive Engineers (SAE-China)Seres Automobile Co., Ltd., Seres Group Co., Ltd.,Chongqing Seres New Energy Vehicle Design Institute Co., Ltd. 2024 Outstanding Practice Case ofSustainable Development for Listed CompaniesSeres Group Co., LtdChina Listed Companies Association “Xinhua Credit Mingzhu Cup” OutstandingClimate Change Response Project Case Seres Group Co., LtdSeres Group Co., LtdXinhua News Agency Guangzhou Branch,China Economic Information Service MSCI ESG Rating A Seres Group Co., LtdMSCI 2024 Top 100 ESG Best Practicesfor Listed Companies in China AA Seres Group Co., Ltd Wind Economic Observer, 2024 ChinaInternational Fair for Trade in Services (CIFTIS) Core Competitiveness ESGComprehensive Governance Benchmark Enterprise ESG Golden Award – BestTechnological Innovation Breakthrough Seres Group Co., Ltd Securities Market Weekly 2024 ESG Pioneer Award Seres Group Co., LtdCaixin Media Top 100 in the 2nd Guoxin CupESG Golden Bull Award Seres Group Co., LtdChina Securities Journal Outstanding ESG Practice Excellence Case Award2024 Financial Golden AwardSeres Group Co., LtdFinance Industry Top 100 Private EnterpriseTechnological Innovation Index in Chongqing (Ranked 1st)Seres Group Co., LtdChongqing Federation of Industry andCommerce, Chongqing Science and Technology Bureau Top 100 Private Enterprises forSocial Responsibility in Chongqing (Ranked 2nd)Seres Group Co., LtdChongqing Federation of Industry and Commerce Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities National Green Factory Hubei Province Green FactorySichuan Province Green FactoryChongqing Green Factory “Zero Waste Factory”Third Prize in the “Environmental EmergencyDrills and Response Team Combat Competition”2024 Chongqing Green and Low-Carbon Typical Case of the Year Seres Automobile (Hubei) Co., Ltd. Seres Automobile (Hubei) Co., Ltd.Luzhou Rongda Intelligent Transmission Co., Ltd.Chongqing Jinkang Power Co., Ltd. Seres Automobile Co., Ltd.Seres Automobile Co., Ltd.Seres Automobile Co., Ltd.Ministry of Industry and InformationTechnology of the People’s Republic of China Hubei Provincial Department of Economyand Information Technology Sichuan Provincial Department of Economy and Information TechnologyChongqing Municipal Commission ofEconomy and Information Technology Chongqing Jiangbei District Ecology andEnvironment Bureau & Chongqing JiangbeiDistrict Economic and Information Technology CommissionLiangjiang District, ChongqingChongqing Ecology and Environment Bureau Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Stakeholder Engagement We place great importance on listening to both internal and external stakeholders. During the reporting period, we maintained active communication through various channels, ensuring we understood and addressed theirexpectations and concerns. This approach helped us identify priorities for our sustainable development e?orts and clarify key directions for the Group’s future, aiming to achieve mutual benets and win-win cooperation. StakeholdersEmployeeShareholders/InvestorsUsers Government andRegulators Partners (e.g. suppliers,service providers) Community Members/Organizations/NGOs Media Topics in Focus ● Employee training anddevelopment ●Employee rights, interestsand welfare ●Occupational health andsafety ●Diversity and equalopportunity ●Group businessperformance ●Governance structure ●Business ethics ●Corporate governance ● Compliance and riskmanagement ● Users service andsatisfaction ● Information security andprivacy protection ●Product quality and safety ●Community public welfare ● Compliance and riskmanagement ●Science and technologyinnovation and intellectualproperty protection ●Group businessperformance ●Legal compliance ●Business ethics ●Corporate governance ●Compliance and riskmanagement ●Supply chainmanagement ●Raw material procure ●Supplier Support ●Economic and socialcontributions ●Community publicwelfare ●Support for thedisadvantaged ●Green technologies andproducts ●Economic and socialcontributions ●Community publicwelfare ●Support for thedisadvantaged ●Product quality andsafety CommunicationChannels ●Employee performanceevaluation interviews ●Internal communicationmeeting ● Employee training ●Regular research feedback ● Corporate culture promotionand implementation activities ●Internal o?ce system ●General meeting ofshareholders ●Investor meeting ● Earnings presentation ●Announcement/Pressrelease ●On-site investigation ●Investor hotline/email ●Exchange onlineinteractive platform ●O?cial website, o?cial App ●Social media matrix ●Product research feedback ●User complaints andhandling ●User satisfaction survey ●Information disclosure ●On-site investigation ●Talk ●Daily communicationand reporting ●On-site investigation ●Supplier meetings andaudits ●Supplier contracts andagreements ●Supplier training ●Talk ●On-site projectresidency ●Community activities ●On-site investigation ●Group website andsocial media matrix ● Announcement/Pressrelease ●Press conference ● Media exchangemeeting Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesMateriality Issues AnalysisWe are committed to identifying, assessing, and managing ESG issues. In 2024, we carefully considered the concerns of various stakeholders, aligning them with industry trends and our business strategy. We conducteda substantial issue assessment from the three dimensions of environment, social, and governance, and developed a materiality matrix to address stakeholder concerns. Looking ahead to 2025, and in alignment with theShanghai Stock Exchange’s “Sustainability Reporting Guidelines (Draft for Public Comments)”, we will conduct a dual materiality analysis. This analysis will not only evaluate ESG issues based on their broader impact butwill also consider their nancial signicance to the Group. This will deepen our understanding of how ESG factors a?ect both our operations and the external environment, providing a strong foundation for shaping a moreinformed and resilient sustainable development strategy. High ImportanceModerate Importance Low Importance Materiality Issues Matrix in 2024Materiality Issues Distribution in 2024 Importance to Stakeholders Importance to the Group’s Sustainable DevelopmentLow Importance Environmental IssueGovernance IssueSocial Issue Moderate ImportanceHigh Importance 1 Users Service andSatisfaction Social Issue2 Science and TechnologyInnovation and IntellectualProperty Protection Social Issue3 Product Quality and SafetySocial Issue4 Supply Chain ManagementSocial Issue5 Employee Training andDevelopment Social Issue6 Information Security andPrivacy Protection Social Issue 7 Green Technologies andProducts Environmental Issue8 Business Ethics Governance Issue16 Climate Change Environmental Issue 9 Employee Rights, Interests andWelfare Social Issue10 Occupational Health and SafetySocial Issue11 Corporate GovernanceGovernance Issue12 Compliance and Risk ManagementGovernance Issue13 Energy Use and Management Environmental Issue14 Emissions Management Environmental Issue15 Water Resource Management Environmental Issue 17 Diversication and equal opportunitySocial Issue18 Community welfareSocial Issue Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities At the 29th Conference of the Parties (COP29) to the UnitedNations Framework Convention on Climate Change, Seresproudly represented China’s new energy vehicle industry.We shared our innovative practices and achievementsin promoting green, low-carbon development. Through astrategic focus on “carbon reduction, carbon utilization,and carbon management, Seres not only demonstratedits commitment to addressing climate change but alsoprovided a Chinese solution to the global transportationenergy transition. During the COP29 China Pavilion theme session, Seres highlightedhow we have integrated “Dual Carbon” goals into our mid- and long-term strategic planning, established a carbon neutrality workinggroup, and applied green principles across the entire productlifecycle, from design and procurement to production, logistics,and recycling. Through continuous technological innovation andecosystem integration, Seres introduced three high-end NEVmodels: AITO M9, M7, and M5. From January to December 2024,new energy vehicles annual sales volume was 426,885 vehicles,with the AITO M9 maintaining its position as the top-selling modelin China’s luxury segment (above RMB 500,000) for 11 consecutivemonths, showcasing market recognition of green products. Seres Group’s Voice at COP29: Full Lifecycle Carbon Neutrality Practice From January to December 2024, new energy vehiclesannual sales volume was426,885 vehicles with the AITO M9 maintaining its position as the top-sellingmodel in China’s luxury segment(above RMB 500,000 ) for 11 consecutivemonths Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Feature Driving Low-Carbon Development of New EnergyVehicles through Technological Innovation —Seres Responds to Climate Change Seres actively responds to the Belt and Road Initiative for green low-carbon development, by advancing international cooperation throughthe export of low-carbon products and technologies. In the future, the Group will continue to deepen cooperation with global partners, explorecutting-edge low-carbon technologies, and work together to build a sustainable ecosystem for the new energy vehicle industry. The “factory-in-factory” model at Seres’ super factory is an innovative supply chain collaboration model. By integrating key component suppliersdirectly into the vehicle manufacturing facility, this model streamlines operations, enhances efficiency, and promotes rapid response. Keyadvantages of the model include: The “factory-in-factory” model not only enhances production e?ciency and supply chain coordination but also contributes positively to thecarbon reduction goals by reducing logistics and improving energy e?ciency. Low-Carbon Model Innovation: The “Factory-in-Factory” Model Global Cooperation: Building a Green “Belt and Road” Ecosystem At Seres, we prioritize the use of renewable and recyclable materials todrive energy savings and reduce carbon emissions in manufacturing.Our products have a recycling rate of 97%, with 100% utilization ofsolid waste disposal. The AITO series introduced 1,590 lightweightingsolutions, significantly cutting energy consumption and lowering thecarbon footprint.By building distributed photovoltaic power stations on rooftops andparking lots, Seres has created a “photovoltaic+vehicle manufacturing”low-carbon manufacturing model. With a total installed capacityexceeding 102 MW, these stations have generated a cumulative 89.1166million kWh of clean electricity. Additionally, we have purchased 20.05million kWh of renewable energy to further accelerate our low-carbonenergy transition in production. In our super factory, we’ve launched azero-carbon smart logistics port project. This includes the deployment of18 autonomous electric heavy trucks to replace traditional fuel-poweredvehicles. These trucks run on green electricity, significantly reducingemissions from factory logistics. We have also developed a digitalcarbon management platform powered by an end-to-cloud integrationtechnology framework, enabling carbon emission management withinthe factory and full lifecycle carbon footprint management for products,minimizing emissions across the entire industry chain. Technological Innovation: From Low-Carbon Manufacturing to SmartZero-Carbon Logistics Our products have a recycling rate of97% , with100% utilization of solid waste disposal From the momentan order is placedto the adjustment ofsupplier productionlines, the entireprocess takes lessthan 20 minutes. Quick ResponseReduced Logistics Once parts aremanufactured,they are shippeddirectly to the mainworkshop via anaerial corridor,signicantlyreducing logisticssteps. Thousandsof components canbe cycled and usedwithin the same day. Improved ProductionE?ciency The stampingprocess, forinstance, canproduce 16 partsper minute. Thefactory achieves100% automation inmaterial transport,welding, andspraying. Quality Control Leveraging an IoT(Internet of Things)platform, Seresautomatically collectsand analyzes 100%of quality data, fromraw materials tonished products. Reduced LogisticsCarbon EmissionsBy shorteningtransport distancesand times, itsignicantly reduceslogistics-relatedcarbon emissions. Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Integrity Governance,Steady DevelopmentWe strictly comply with national laws and regulations as well as the regulatoryrequirements for listed companies, establishing a sound corporate governancestructure, implementing compliance operations and risk management, and firmlyupholding corporate business ethics. We rmly oppose all forms of corruption, bribery,and unfair competition. At the same time, we continuously improve our ESG framework,improving governance capabilities to support our steady and sustainable growth. The Group held shareholder meetingswith a100% attendance rate from relevantmembers of the board and supervisory boardNocases of violation of business ethics werereported100% of employees received training onbusiness ethics and anti-corruption with a total of49,260 hours of training board meetings supervisoryboard meetings 2024 Highlights Performance SDGs Responses Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesCompliance Operations Governance Structure The Group is committed to continuously enhancing its corporate governance structure by promoting board diversity, ensuring independence,and elevating the level of corporate governance. We conduct investor communication activities in compliance with laws and regulations, fullysafeguarding the rights and interests of investors. The Group strictly adheres to laws and regulations such as the Company Law of the People’s Republic of China and the Rules Governing theListing of Stocks on the Shanghai Stock Exchange, as well as regulatory documents. Based on the Articles of Association of Seres Group Co.,Ltd., we have established a clear and well-dened governance structure, which includes a board of directors and ve specialized committees,ensuring the Group’s steady and e?cient development. The Group continues to optimize its governance system. We have established and refined a “three-meeting and one level” managementstructure, comprising the general meeting of shareholders, the board of directors, the supervisory board, and the management team. Our focusis on improving decision-making processes and strengthening internal oversight mechanisms to ensure that all departments and subsidiariesoperate efficiently and fulfill their functions, thereby enhancing governance standards. In 2024, the Group held six general meetings ofshareholders, eleven board meetings, fourteen board committee meetings, and ten supervisory board meetings, with a 100% attendance rate forthe respective members of the board and supervisory board. The Group’s Governance Structure The Board of Directors The StrategicDecision-making Committee The Nominating Committee The Compensation and EvaluationCommittee ESG CommitteeThe Audit Committee Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesBoard Diversication and Independence Information Disclosure Seres strictly adheres to the Articles of Association of Seres GroupCo., Ltd. and enhances the independence and diversity of the boardof directors. The Nomination Committee carefully considers factorssuch as gender, age, ethnicity, professional skills, experience,and cultural background when nominating and appointing boardmembers. The Committee also regularly reviews and supervisesthe implementation of board diversity. As of the end of the reportingperiod, the board consists of twelve directors, including fourindependent directors (33.33%) and one female director (8.33%).The Audit Committee, Nomination Committee, and Remunerationand Appraisal Committee are all have independent directors.Furthermore, Board members also come from diverse professionalbackgrounds, including risk management, financial management,legal a?airs, and sustainability, supporting the e?cient and scienticoperation of the board. Seres follows the Rules Governing the Listing of Stocks onthe Shanghai Stock Exchange and its Information DisclosureManagement System to ensure that disclosed information istimely, accurate, and complete. This approach helps stakeholdersgain deeper insights into the Group’s governance and operations.Additionally, we have established an Investor Relations ManagementSystem to continuously expand communication channels, strengtheninteractions, and protect the legitimate rights and interests ofinvestors, especially minority shareholders. Composition and Background of DirectorsName of DirectorDirectorships Professional SkillsRisk ManagementFinancial ManagementIndustry ExperienceMr. Zhang ZhengpingDirector, ChairmanMr. You ZhengDirector Mr. Li WeiDirectorMr. Zhou ChanglingDirectorMr. Yin XianzhiDirectorMr. Zhang KebangDirectorMs. Shen WeiDirectorMr. Zhang ZhengyuanDirector Mr. Li KaiguoIndependent DirectorMr. Zhang GuolinIndependent Director Mr. Li MingIndependent DirectorMr. Jing XufengIndependent Director In 2024, the Group actively engaged with investors through multiple platforms, including the Shanghai Stock Exchange e-Interaction platformand investor hotlines. During the reporting period, we responded to 404 investor inquiries on the e-Interaction platform and answered over 1,000investor calls, totaling more than 5,000 minutes of direct communication, ensuring investors’ right to information. Moreover, we organized on-siteresearch events, such as the “Securities Analysts Seres Research Activities.” These events provided brokerage rms and research institutionswith rsthand insights into Seres’ intelligent manufacturing capabilities, product competitiveness, organizational e?ciency, and managementteam. Throughout the reporting period, we conducted over 150 investor research sessions and participated in more than 100 roadshows,e?ectively showcasing the Group’s investment value. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesRisk ManagementSeres is committed to strengthening risk management and internal control by implementing internal regulations such as the Comprehensive Risk Management System and the Internal Control Management System. Basedon the “Three Lines of Defense” risk management model, we continuously optimize our control mechanisms to ensure that risk management is integrated into every aspect of our operations, from strategic planning andbusiness goal setting to resource allocation and performance management. By adhering to strict risk control principles, we embed comprehensive risk management into all workows and engage every employee in theprocess, e?ectively mitigating major risks. The Group conducts annual internal and external risk assessments following the Risk Classication Framework and risk assessment standards. Risks are categorized into seven major types: strategic risk, market risk,operational risk, nancial risk, legal risk, corporate social responsibility (CSR) risk, and non-traditional risks. Based on the identied risk types and levels, we develop targeted response plans and implement dynamicmonitoring to enhance the risk management process. Additionally, we have also integrated ESG risk management into our daily framework, ensuring that major ESG risks—such as environmental protection, product qualityand safety, and business ethics—are identied and addressed proactively. This approach enhances our ability to manage risks related to sustainable development and overall risk control.Seres adheres to the internal audit principle of “audit all operations, review all results, and audit all departures,” ensuring that internal auditing remains closely aligned with risk management. We have established asystematic internal control system and a long-term internal supervision mechanism focused on strategic execution, investment, and operations to maintain regulatory compliance. In 2024, our internal audits covered assetvalue preservation, operational e?ciency assessment, information system security reviews, compliance with listing regulations, and evaluations of the e?ectiveness of the internal control and risk management systems.For any risks identied during audits, we have implemented a comprehensive rectication mechanism that combines full-scale corrections, specialized rectications, and key issue supervision to ensure long-term riskmitigation. Risk Management and Control MechanismThe First DefenseThe Second DefenseThe Third Defense ●It consists of core business modules such as R&D,marketing, sales, production and supply. ●We build and maintain appropriate structures andprocesses in accordance with our operations and riskmanagement. ●This ensures that all business operations comply withlaws, regulations, internal rules and ethical standards. ●We achieve closed-loop risk management throughrisk identification, assessment and implementation ofcountermeasures. ●It is composed of functional departments such as thePlanning and Strategy Department, the Finance Department,the Legal Affairs Department, the IT, Network and DataSecurity Departmentl. ●The defense provides expertise, support and supervision formatters related to risk management of the rst defense, andmakes reasonable suggestions. ● The defense also arranges, implements and continuallyimproves risk management at the levels of working process,system and organization. ●It consists of the internal audit department and thesupervision department. ●The defense provides independent and objectiveconfirmation and consultation for accurate ande?ective corporate governance and risk management. ● This supports the Group to achieve goals related torisk management, and promote and improve the riskmanagement system. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities ESG ManagementWe actively respond to the United Nations Sustainable Development Goals (SDGs) by establishing a three-tier ESG governance structure: theBoard of Directors, ESG Committee, and ESG Executive Group. This structure helps us continuously strengthen our ESG standards. The Boardof Directors, as the highest decision-making body, oversees all ESG matters. The ESG Committee is authorized to manage ESG activities andpromptly report relevant issues to the Board. GovernanceLevel Management Level Executive Level ESG Committee ESG Executive Group As the highest responsible and decision-making body for the Group's ESG-related matters, the Board of Directorshas the ultimate responsibility for such matters.It reviews and approves the ESG strategies and action plans, and assesses ESG performance and progressagainst targets. It coordinates matters related to ESG management, and formulates medium and long-term ESG developmentstrategies and action paths.It oversees and guides the effective implementation of the Group’s environmental, social responsibility andcorporate governance. Including the Planning and Strategy Headquarters, Internal Control and Audit Headquarters, and Securities A?airsHeadquarters, work together to execute and implement the annual ESG work plans, and identify and manageESG-related risks. The Board of Directors Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesBusiness Ethics Anti-Corruption The Group upholds strong business ethics by continuouslyoptimizing our anti-corruption framework, ensuring accessiblereporting channels, and enforcing whistleblower protection.Meanwhile, we firmly oppose unfair competition and monopolisticpractices, working to maintain a fair, transparent, and trustworthybusiness environment. Management LevelThe Board of Directors is thehighest management body foranti-corruption.The Board of Supervisorssupports the Board by reviewinganti-corruption mechanisms andmonitoring the Group's integrityand compliance performance. In accordance with the BasicRegulations for the Development ofthe Group, Anti-Corruption Systemand Internal Supervision Systemand other systems, the SupervisionHeadquarters oversees complianceand ensures the Group operatesethically and e?ectively. It is composed of functionaldepartments such as the Group’sHuman Resources Headquarters,Logistics and Party WorkHeadquarters and the InternalControl and Audit Headquarters.Under the SupervisionHeadquarters' guidance, thesedepartments collaborate to upholdethical standards. Business Ethics Governance System of the Group The Group strictly complies with the Criminal Law of the People’sRepublic of China, the Supervision Law of the People’s Republic ofChina, and other relevant laws and regulations. Our managementsystems, including the Anti-Corruption Policy, Internal SupervisionPolicy, and Basic Regulations for the Development of the Group,require all employees to adhere to applicable laws, regulations, andinternal policies. During the reporting period, we issued the BusinessPartner Integrity Cooperation Management Measures, outliningintegrity standards for suppliers, distributors, service providers,agents, and consulting firms to ensure ethical and compliantbusiness development.Our three-level business ethics governance system includes: oversight by the Board of Directors, management by the SupervisionHeadquarters, and execution by key departments such as HumanResources, Party Affairs & Logistics, and Internal Control & AuditHeadquarters. The Board of Directors, as the highest authority,oversees anti-corruption efforts. During the reporting period, nocorruption-related lawsuits were recorded. The Group actively identies and mitigates corruption risks, rmly opposing corruption and bribery while upholding high ethical standards. In2024, the internal audit department conducted a Group-wide anti-corruption audit to continuously identify and assess potential risks. Whenissues were identied, relevant departments were required to establish internal controls and implement corrective actions. This approach not onlysafeguards the Group’s economic interests and reputation but also supports its steady growth.To promote transparency, the Group has established accessible reporting channels, including a hotline, mailing address, and email. A clearcomplaint-handling process ensures that reports are addressed promptly and e?ectively. Upon receiving a report, a designated supervision teaminvestigates the matter. For urgent cases, investigations are initiated immediately, with supplementary materials submitted within three days ofcompletion to maintain e?ciency. Additionally, the Group has implemented a conict-of-interest avoidance mechanism. Monitoring personnel areexcluded from cases where personal or familial ties could compromise fairness, ensuring objective and impartial investigations. Governance LevelExecutive Level Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Reporting EmailMailing Address Reporting Channels We continuously improve our whistleblower protection mechanisms, strictly enforcing condentiality measures and upholding our duty to protectsensitive information. In 2024, the Group introduced the Seres Whistleblower Protection and Reward System , strictly protect in accordance withthe law to ensure that the personal information of whistleblowers and the content of their reports are not leaked. Retaliation in any form is strictlyprohibited, and breaches of condentiality or retaliatory actions will result in severe penalties, with serious cases subject to legal consequences.This ensures the full protection of whistleblowers’ rights.We actively promote anti-corruption awareness through both online and o?ine training initiatives, fostering a culture of integrity and encouragingethical self-discipline among employees and business partners. This year, the Group organized anti-corruption training and awareness programscovering all employees and business partners, reinforcing a Group-wide commitment to ethical business conduct across the entire value chain.We held 31 training sessions, achieving 100% coverage of employees and contractors, with a total of 49,260 training hours. These e?orts havestrengthened awareness and commitment to ethical conduct.While ensuring employees uphold anti-corruption and anti-bribery standards, we also closely monitor our business partners’ compliance withanti-corruption e?orts. The Group has formulated the Seres Business Partner Integrity Cooperation Management Measures and the IntegritySelf-Discipline Management Measures, maintaining a zero-tolerance policy business for ethical violations by suppliers. All suppliers must signthe Seres Sunshine Project Integrity Agreement upon admission. In 2024, the agreement’s signing rate among suppliers reached 100%. The Group strictly complies with the Anti-UnfairCompetition Law of the People’s Republic of China andthe Anti-Monopoly Law of the People’s Republic of China.We have rmly oppose unfair competition and monopolisticpractices, ensuring a fair, transparent, and honestbusiness environment. Employees are strictly prohibitedfrom obtaining competitors’ trade secrets or confidentialinformation through illegal means such as unauthorizedaccess, theft, eavesdropping, bribery, or any other illicitactivities. Additionally, false or misleading advertisingis also forbidden. At the corporate level, we ensure nomonopolistic practices are conducted regarding productionmaterials or non-patented technologies. In 2024, theGroup faced no lawsuits related to unfair competition ormonopolistic practices. Anti-Monopoly and Fair Competition https://cdn-web.seres.cn/uploads/20241204/03ee36cacd?d54e31337a3155345d69.pdf In 2024, the Group had no part-time employees. https://cdn-web.seres.cn/uploads/20241204/ad77?1fee6e16543?ba04c081e4c49.pdf Reporting Hotline023-65179813jczb@seres.cnRoom 810A, North Building, Building 1, Seres Group O?ceBuilding, No.7 Wuyunhu Road, Shapingba District, Chongqing Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Innovation-Driven,Excellence in ProductsThe Group deeply integrates innovation-driven development with responsibility empowerment, advancing productupgrades and iterations. We protect intellectual property while ensuring product quality and safety. Additionally,we o?er diverse and comprehensive user services, uphold information security and privacy, and contribute to asustainable and intelligent automotive ecosystem. As of the end of the reporting period,the Group had been granted a total of6,619 patents Total cumulative investment in R&Dreached RMB 7.053 billion representing a year-on-yearincrease of 58.91% No product recalls occurred Organized quality training sessions andactivities covering100% of employees Noincidents of privacybreaches or data securityviolations were reportedtrademarks 3,050 copyrights 2024 Highlights Performance SDGs Responses Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesResearch and Innovation Research and Innovation System The Group regards technological innovation as the core driving force of its development. We have established a comprehensive R&D system, continuously increasing investment in technology, expanding the application ofinnovative achievements, and promoting deep industry-academia-research collaboration to explore and apply cutting-edge technologies. We adhere to the technology strategy of “mass-producing the currentgeneration, developing the next, and pre-researching the one thatfollows,” supported by two major systems, eight intelligent platformsfor full-stack independent R&D and over ten functional departments.In 2024, guided by the (IPD) process system, we established the“IPD Process Project Team” to focus on three core areas: platformarchitecture development, innovative technology development, andR&D engineering. This led to the release of 58 end-to-end processesand 1,008 process regulation documents, covering tasks such asplatform structure development, architecture design, validation, andtechnology development. This framework lays a strong foundationfor future product development and innovation. IPD: Integrated Product Development. Include R&D and technical personnel. To foster a culture of innovation, we introduced an incentive plancombining material and non-material rewards, along with short-and long-term incentives. This approach encourages employees’creativity and innovation. In 2024, our R&D team comprised 7,117personnel , accounting for 37.78% of total employees, with acumulative R&D investment of RMB 7.053 billion, representing ayear-on-year increase of 58.91%.Additionally, we prioritize scientific ethics training and publiceducation to strengthen ethical awareness in technologydevelopment among employees and the broader community. Thisapproach supports both technological innovation and sustainabledevelopment. In 2024, we collaborated with automakers, componentsuppliers, research institutions, and industry associations withinthe NEV value chain. Over 50 discussions and exchanges wereorganized, focusing on R&D innovation and technological ethics.Together, we are committed to fostering the healthy developmentof the NEV industry. Throughout the year, no violations of scienticethics or related penalties occurred. In 2024, our R&D team comprised7,117 personnelaccounting for 37.78% of total employeeswith a cumulative R&D investment of RMB 7.053 billion Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities representing a year-on-year increase of 58.91% Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesInnovation Achievement Layout The Group has mastered advanced intelligent manufacturing technologies, focusing on ve key areas: “intelligent architecture, intelligent power, intelligent ecosystem, intelligent testing, and intelligent processes”: Throughthis approach, we have developed a diverse range of high-quality products and created an open, interconnected intelligent ecosystem. Launched the MF Technical Platform, a super-intelligent vehicleplatform focused on intelligent safety, diverse powertrains, flexiblespace, and intelligent leadership. It enables cross-domain softwareintegration across safety, power, and chassis systems, delivering anexceptional driving experience. The AITO models are equipped with the ADS 3.0 and 192-line LiDAR with industry-leading detection range. The softwarealgorithms utilize Huawei’s self-developed GOD (General ObjectDetection) and PDP (Prediction-Planning-Decision) architecture toprovide users with an intelligent driving experience close to L3-levelautonomy. Leveraging the “C2E Extended Range Architecture” and “RoboREXIntelligent Control Technology,” the Group developed a next-generation super-extended range system. It optimizes design andintelligent algorithm control, signicantly reducing fuel consumptionand noise, and achieving industry-leading thermal e?ciency. Adhering to the strategy of “safety is the greatest luxury,” theGroup introduced the industry’s rst scenario-based safety system,covering over 180 safety scenarios throughout the entire vehiclelifecycle.The AITO M9 became the rst model to successfully pass the 2021version of C-NCAP testing, with a ve-star safety certication.The AITO models active safety systems have helped avoid over 1million potential collisions, earning strong user recognition. Innovative R&D Results in 2024 8 C-NCAP: China-New Car Assessment Program. 9 ADS: Advanced Driving System. GOD: General Object Detection. PDP: Prediction-Planning-Decision. The AITO intelligent cockpit leads the industry in human-machineinteraction, connectivity, and safety. It supports the HarmonyOSecosystem and includes diverse entertainment systems andinteractive designs.Built on the software-defined vehicle concept and in collaborationwith industry partners, the cockpit o?ers features like ten screens,seamless transitions, and giant-screen movie viewing, creating animmersive third intelligent space for users. Intelligent PowerIntelligent Safety Intelligent DrivingIntelligent Cockpit Intelligent Vehicle Platform Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesSeres Group’s Awards Related to Innovative R&D in 2024“Typical Case of Technological Innovation in PrivateEnterprises (Industrial Innovation Category)” and“Typical Case of Digital Transformation in PrivateEnterprises” awarded by the All-China Federation of Industry and Commerce. “First Prize of the First Automotive Industry Digital and Intelligent Scene Innovation Competition”awarded by the Automotive Industry Sub-Allianceof the Central Automotive Enterprise DigitalTransformation Collaborative Innovation Platform. “2024 Excellent Practice Unit of Digital Transformation of Western China Enterprises” awarded by theOrganizing Committee of the Western Enterprises Digital Development Conference.“Advanced Intelligent Factory of Chongqing” awarded by the Chongqing Economic and Information Commission. “First Prize of Technological Progress”awarded by the Chongqing Municipal People’s Government.“Second Prize of Technological Progress” awarded bythe China Society of Automotive Engineers.Intelligent Manufacturing ProcessesBy integrating “digitalization and intelligence” into new processes, theGroup uses a intelligent manufacturing platform to monitor, diagnose,and intercept critical quality points throughout production. Thisincludes over 30,000 automated quality control points and more than1,200 AI monitoring points.Established a “One Car, One File” and “One Piece, One File”management system, assigning each vehicle a unique ID to ensurefull traceability throughout the production process. Intelligent Testing and ServiceProvides proactive, early warning, real-time, remote, and mobileintelligent service systems. Remote diagnostics cover the entirevehicle, and over 85% of fault alerts are responded to within fiveminutes.In 2024, intelligent services saved over 100,000 maintenance hoursand reduced maintenance costs by over RMB 11 million. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Case: Collaborative Innovation with Universitiesand Financial Institutions Exchange and Training with Chongqing University of Technology In 2024, the Group, in collaboration with ChongqingUniversity of Technology, Sichuan International StudiesUniversity, Chongqing Ivy League High School, and PostalSavings Bank, organized multiple seminars and trainingsessions on the topic of The Current Status, Development,and Trends of New Energy Vehicles. These activities aimedto deepen the understanding of the new energy industryamong universities and enterprises, as well as to enhancethe recognition and support of the new energy vehicleindustry across various sectors of society. The Group has participated in industry association forumsand contributed to the development of national and industrystandards. During the reporting period, the Group attendedseveral forums and seminars organized by the ChinaElectric Vehicle Hundred People’s Association, focusing ontopics related to industry policy development, contributingvaluable ideas and suggestions to national policiesand industry development. In 2024, Seres Automotivebecame a member of the “National Technical StandardsInnovation Base (Automobile) Automotive FunctionalSafety Standardization Promotion Center,” which notonly highly recognized our innovation in its automotivefunctional safety but also highlighted its role in advancingindustry standards and enhancing overall safety levels.As a member, Seres Automotive will actively engagein discussions and the formulation of functional safetystandards, further strengthening its technical capabilitiesand industry inuence.On October 11, 2024, the AITO New Luxury AutomobileTechnology Co-Creation Laboratory—jointly establishedby Seres Group’s AITO brand and the China AutomotiveTechnology Research Center (CATARC), was officiallyinaugurated in Tianjin. This collaboration aims to driveinnovation in high-end intelligent electric vehicle technologyand redefine luxury standards for Chinese new energyvehicles. Industry-Academia-Research CollaborationThe Group is committed to driving industrial innovation and technological progressthrough active collaboration with research institutions and industry associations.We participate in national research projects, industry-academia-researchinitiatives, and standard formulation to transform scientific achievements intopractical applications, promoting the broad sharing of innovation resources andresults.In 2024, the Group, in collaboration with the National Information Center andseveral new energy vehicle companies, conducted joint research on topicssuch as Automotive Design and User Product Preferences under the IntelligentElectric Wave and Product Function and Experience Definition in the Era ofElectric Intelligence—Scene-based Tracking Surveys and Application Research.These studies provided valuable insights for product planning and design to meetevolving user needs.Additionally, the Group signed strategic cooperation agreements with topuniversities such as Harbin Institute of Technology, Beihang University,Chongqing University, Hunan University, and Chongqing University of Postsand Telecommunications. These collaborations focus on the new energy vehicleindustry, promoting in-depth integration of “industry, academia, research, andapplication” to deepen university-enterprise cooperation. In January 2024, theGroup signed a strategic cooperation agreement with Chongqing University,where both parties will collaborate in the fields of intelligent manufacturing,new energy vehicles, intelligent connected vehicles, talent development, andtechnological innovation. Together, they established the “New Energy Vehicles,”“Intelligent Connected Vehicles,” “Advanced Manufacturing,” and “AutomotiveCarbon Neutrality” Joint Laboratory at Chongqing Excellence Engineering Institute- Seres New Energy Vehicle Design Institute Co., Ltd. The partnership will alsoform research teams to explore cutting-edge technologies, address engineeringchallenges, and conduct foundational research, while nurturing outstandingengineers and enhancing cooperation in talent resources and technology transfer. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Standards FormationEAC2024 Third Automotive Seat Technology Innovation Forum: Participated as a guest speaker in theSeat Innovation round-table discussion.6th Automotive Fuel Tank System (FSA) Technical Seminar: Engaged in discussions on “Next StageEmissions,” addressing China’s passenger car energy-saving standards and factors affecting fuelevaporation emissions.Powertrain NVH Technology Seminar: Participated in a seminar themed “Technology-DrivenSeamless Power,” covering topics like sound source identication, intelligent NVH fault diagnosis, AI-driven NVH design and optimization, sound quality, and human comfort.2024 Automotive Direct Vision Standard Research Group Meeting: Attended and delivered a keynotespeech at the meeting hosted by the National Automotive Standardization Technical Committee’sBody Subcommittee.Advanced Driver Assistance Systems (ADAS) Standards Working Group Meeting: Contributed to thedevelopment of related standards.9th Intelligent Connected Vehicle Technology and Standards Regulations Exchange Conference: Participated in the event hosted by the China Automotive Standardization Research Institute anddelivered a keynote speech.China Electric Vehicle Academic Annual Meeting: Presented a report on “Lightweight and Safety ofIntelligent Electric Vehicles.”Digitalization and Intelligent Manufacturing Committee Event: Participated in the “Visit to AutomotiveCompanies” study event hosted by the China Society of Automotive Engineers (SAE). Mandatory National Standard: Contributed to the development of the mandatory nationalstandard for the On-Board Wireless Broadcast Reception System, rening the technicalrequirements and testing methods for the system.National Recommended Standard: Participated in drafting the national recommendedstandard for the Automotive Structural Durability Road Simulation Test Method.China Automotive Chip Standard Testing and Certification Alliance (Group Standard): Contributed to drafting the T/CACC JH0002-2024 group standard, On-Board SoftwareTechnology: Vehicle-to-Hand Connectivity Technical Requirements and Test Methods.Automotive Industry Standard: Assisted in formulating the automotive industry standardfor On-Board Wired High-Speed Media Transmission: 100-Megabit Full-Duplex SystemTechnical Requirements and Test Methods, improving the technical requirements andtesting methods for the system.Industry Group Standards: Participated in drafting the industry group standards for PureElectric Vehicle High Cold Endurance Driving Range Road Test Method and Light-DutyHybrid Electric Vehicle High Cold Endurance Driving Range Road Test Method.National Automotive Standardization Technical Committee: Engaged in discussions onthe draft standards for Determining the Information Priority of Passenger Car On-BoardSystems, Reflective Glare Requirements and Test Methods for Passenger Car InteriorTrim, Determining the Driver’s Seat Position for Passenger Cars, and Determining theVisibility Area of Automotive Instruments, contributing to the improvement of automotiveergonomics standards. Major Industry Communication and Standard Formulation in 2024Industry Association Forum Activities NVH: Noise、Vibration、Harshness. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesIntellectual Property Protection The Group adheres to the Patent Law of the People’s Republic ofChina and Copyright Law of the People’s Republic of China, reninginternal policies such as the Technology Achievement ManagementMeasures to align with organizational and business developmentneeds, ensuring the professional and efficient management oftechnological achievements. In 2024, we introduced the PatentClassification Management Measures and the Patent ProcessManagement System Construction to implement a hierarchical,categorized approach to patent management. Differentiatedincentives are applied based on patent classication to maximize thevalue of intellectual property.To encourage innovation, we released the Patent IncentiveStandards and established a comprehensive technical innovationincentive system. A dedicated intellectual property contributionmechanism offers substantial rewards to employees withoutstanding contributions to technological innovation. Additionalincentives include instant rewards, Golden Idea incentives, honoraryrecognitions, and the naming of forward-looking research projects.This approach fosters a culture of co-creation, shared success, andmutual growth. As of the end of the reporting period, the Group hadbeen granted 6,619 patents, 3,050 trademarks, and 567 copyrights. Intellectual Property Achievement in 2024 Newly Granted Patents Newly Granted Trademarks Newly Granted Copyrights Newly Filed Patent Applications Proportion of Invention Patents in New Applications % 3,870 Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities The integration of an electronic thermostat, oil cooler, andengine design signicantly saves installation space, reducesengine warm-up time, and enhances the cooling e?ciency ofthe oil cooler. By considering the vehicle’s current torque demand and thedriver’s intention coefficient, the system precisely calculatesthe total output torque. Based on this calculation, motortorque control is implemented, optimizing torque distributionto balance immediate and expected driving needs, ultimatelyenhancing the user driving experience. The system evaluates the impact of ambient temperatureon battery temperature and applies appropriate thermalmanagement measures to mitigate external temperatureinterference. This ensures that the battery output power meetsperformance demands in various driving scenarios. By calculating the most efficient power distribution ratio anddisabling the asynchronous electric drive assembly whenappropriate, the system ensures optimal operation of theelectric drive system while meeting driver demands, therebyimproving overall vehicle e?ciency. Engine Cooling System Torque Control Method, Device, Equipment, and Storage Medium Battery Thermal Management Method, Device, ComputerEquipment, and Storage Medium Four-Wheel Drive Control Method and Device for Automobiles High-value Patent Highlights in 2024 Furthermore, we conducted a comprehensive infringement riskassessment for both our independently developed patents and thoseof our partners to prevent legal violations and maintain a healthyintellectual property ecosystem. To further strengthen intellectualproperty protection and innovation, we organized training andexploration activities covering key areas such as basic intellectualproperty knowledge, patent infringement analysis, patent mining,and intellectual property recognition and awards. In 2024, the Grouphosted 49 intellectual property-related training sessions througha combination of online and o?ine methods, attracting over 4,500employees to participate. Case: Dual Enhancement Training on “Intellectual Property Fundamentals and Mining” Training on Intellectual Property Fundamentals and Mining In 2024, the Group conducted multiple intellectual propertyQ&A and mining training sessions for employees in relevantfields, including the intelligent ecosystem platform, digitalapplication platform, intelligent manufacturing platform, andfactories. Through professional guidance and hands-on practice,these sessions significantly enhanced employees’ ability toidentify intellectual property, further improving the quality ande?ciency of patent applications and promoting the generation ofintellectual property achievements. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Product Quality and Safety Ensuring Product Quality Quality Management System The Group integrates quality and safety principles across everystage, from product design and R&D to manufacturing. We haveestablished a multi-level control system, supported by digitalmonitoring tools, to ensure precise management of productquality and safety, providing consumers with a reliable andsecure travel experience. We have developed a comprehensive quality control systemand established an All-Scenario Intelligent Safety System thatcombines advanced intelligent technologies with safety designprinciples, o?ering drivers well-rounded protection. Adhering to the Product Quality Law of the People’s Republic of China and other relevant regulations, the Group has built a quality managementframework based on the Seres Automotive Quality Manual. This system integrates digital intelligence across five core areas: R&D quality,production quality, market quality, mass production quality, and supplier quality. It has developed the SiQOS to drive the digital transformationand upgrade of full-chain quality management. In 2024, we optimized our quality management processes by adding, rening, and eliminating 141quality policies and process documents, strengthening the scientic and e?ective implementation of quality control throughout the organization. SiQOS Quality Management System SiQOS: Seres Intelligent Quality Operation System. User FirstPrevention First Digital Intelligence QualityCustomer NeedsCustomer SatisfactionInformation Flow Organizational Structure Strategic PlanningInfrastructure and Workplace Quality Objective Management Documents and Records Human Resources Management Correction and Prevention Supplier ManagementInternal Audits Management ReviewContinuous Improvement Time Data Management Processes and Tools Digital Intelligence EmpowermentLuxury Safety Serve UsersWholeheartedly R&D Quality System (SIPD) Launch Quality OperatingSystem (LQOS)Market QualitySystem (MQS) Supplier QualitySystem (SQS) Mass ProductionQuality System (SQIP) Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesTo ensure effective implementation of the quality management system, we haveestablished a clear and structured framework. The Quality Committee serves as theprimary body overseeing product quality and safety, guiding the e?cient operation ofthe quality management system. The Quality Committee Quality Center Each Business Unit The primary responsible organization for product quality and safetymanagementIt formulates product quality and safety strategies to ensure stableoperation of product quality and safety management systems It carries out automobile product quality and safety management inall aspects to ensure the implementation of related strategies The rst person responsible of each unit takes responsibility forproduct quality and safetyResponsible for his or her unit’s quality assurance capabilities andproduct quality and safetyIn 2024, we continued to advance our quality management system certication e?orts,consistently improving the reliability of our product quality system. By the end of thereporting period, 100% of the Group had achieved ISO 9001:2015 or IATF 16949:2016quality management system certication. Incoming Quality ControlProcess Quality ControlProduct Quality Management FrameworkFull Lifecycle Quality Control Full Lifecycle Quality ControlThe Group has implemented a full lifecycle quality control system. By integrating AI monitoring, virtual debugging, and digital twin technologies,we conduct preventive testing for product quality and safety, monitor key production processes in real time, and automate critical productionsteps. This approach signicantly reduces potential quality and safety risks. We conduct inspections on the appearance, size, performance,and functions of parts based on the Incoming Quality ManagementProcedures and inspection guidelines.For high-risk components in new energy models, we performautomated tests on wiring harnesses, battery packs, and powersystems to identify and resolve issues promptly.A traceability system, “One File for One Piece and One File for OneTruck,” has been established. This system tracks and binds keyparts—such as regulated, quality, and error-proof components—throughout the manufacturing process to ensure accurate on-siteassembly and enable barcode traceability for spare parts. We set up quality gates and control points in processes likestamping, welding, coating, and general assembly. Any issuesidentified are automatically reported to the upper productiondepartment for immediate review and quality assurance.To strengthen quality standards, we raised water pressurebenchmarks for rain tests, expanded automated monitoringprojects, and increased spot-check frequencies for wheelalignment and air-tightness inspections. After-sales Service Quality A comprehensive after-sales service system is in place to provideprofessional technical support and promptly address quality issues.Through our vehicle cloud service platform, we o?er “active services”by identifying faults, analyzing data, and providing treatmentsuggestions.By leveraging big data analysis, we provide early warnings andmonitor vehicles for potential issues. This enables real-time cloudalerts and 24/7 remote monitoring across all channels, ensuring asafe and worry-free driving experience. Each vehicle undergoes over 3,200 automated dynamic andstatic tests and nearly 1,000 items of content before delivery,covering systems like intelligent assisted driving, human-machine interfaces, and AR-HUD (Augmented Reality Head-Up Display).A combination of traditional o?ine inspections and advancedautomated testing is used to conduct high-frequency stresstests on controllers and control units, reducing the risk ofdefective vehicles reaching the market.We perform detailed hazard analysis and risk assessmentsfor the powertrain, chassis, intelligent assisted driving system,body system, and cabin system. For high-level intelligentassisted driving systems, we conduct functional safety analysisto ensure reliability and safety. Vehicle Delivery Quality Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities For new model development, we adopt a “V”-shaped vehicle development model. Guided by objective management, we systematicallybreak down and verify the vehicle at the system and component levels. We conduct full lifecycle quality control through “online + o?ine”methods, integrating “hardware + software” and “process + mechanism” approaches. Quality Control of New Models Planning initiation Project demonstration Project initiation Goal determination Clay model determination Complete vehicle process data Project approval Design date releasePrototype and xture preparationTrail production and tooling preparationPilot production readiness completion O? tooling sample approval Pre-pilot productionPilot productionShipment reviewProject summaryProgram determination Strategy phrase Preliminaryplannning Conceptual design Engineering design Designverication Small batchtrial production Mass productionphraseIndicatorsComplete vehicle development System development Part developmentLevel by levelDecomposePKOKOSDPADCPVPCOTSOKTSNSFSS IndicatorsLevel by level Verication Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesProduct Quality Audits Product Recall Management We conduct comprehensive product quality audits using both internal and external methods to ensure reliable product standards. During thelaunch of new models, we apply a “7-Step” preventive gate review mechanism, covering key points such as review planning, data collection,domain-specific review conclusions, comprehensive reviews, report alignment, gate review panel evaluations, and review committeeassessments. These seven gates provide thorough quality risk control and promote standardized gate management. During the reporting period,the Group completed 384,760 vehicle quality inspections and 3,176,850 component quality inspections, achieving a 100% external inspectionpass rate. The Group strictly adheres to the Regulation on the Administrationof Recall of Defective Auto Products and the Measures for theImplementation of the Regulation on the Administration of the Recallof Defective Auto Products. It has established internal managementsystems such as the Product Recall Control Procedures andappointed a Chief Quality Officer (CQO). A key quality issuemanagement mechanism involving senior executives is in place toaddress critical concerns. If potential quality issues are identifiedduring production or in the market, we promptly hold specialmeetings to investigate and analyze the problems, following the GB/T 34402-2017 Safety of Motor Vehicle Product—Guidelines for RiskAssessment and Risk Control. Findings are reported to regulatoryauthorities without delay. If a vehicle defect is conrmed, the Groupimmediately suspends production and sales of the a?ected vehicles,initiates a proactive recall, and submits periodic and summaryreports in line with regulatory requirements. In 2024, the companydid not have any product recall incidents. Internal Quality System Audits: Conducted in line with IATF 16949 standards and quality system maturity criteria, covering alloperational processes to ensure rapid issue resolution. Process Audits: Conducted in accordance with Part Three of the German Automotive Industry Quality Standard (VDA6.3), identifying723 issues, all of which were promptly resolved.New Project Gate Reviews: Completed 14 gate reviews throughoutthe year, identifying 179 issues with a 100% on-time resolution rate.Supplier System Audits: Conducted quality system audits for 16suppliers, providing supervision and guidance to enhance theirquality management capabilities. Product Quality Audits in 2024 UNR156: Issued by the United Nations Economic Commission for Europe, this regulation certies software update management systems. achieving a100% exter nal inspection pass rate R156 System Expansion Certification: The super factory successfully passed the R156 system expansioncertification audit, further elevating its internationalstandards.China Compulsory Certification (CCC): All vehiclefactories passed the CCC product certification audits,ensuring compliance with national standards.Government Supervision and Inspection: Successfullypassed inspections by national ministries and localgovernment departments, confirming compliance withproduction consistency requirements. Internal AuditsExternal Audits Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesQuality Culture DevelopmentTo promote a systematic and professional quality culture, the Group has established a Quality Academy. Regularactivities such as quality awareness campaigns, training sessions, and Quality Month events covering allemployees are carried out every year are conducted to enhance employees' quality awareness and professionalskills. These e?orts foster a culture of active quality participation across the organization. In 2024, the Group held209 quality training sessions and events, reaching 100% of employees. Product quality training and activities in 2024 Awards related to product quality in 2024At the Joint Product Quality Reliability Innovation Conference organizedby market regulatory authorities in Beijing, Tianjin, Shanghai, andChongqing, the AITO M9 was successfully selected as a “Best Practice”for product quality reliability innovation in 2024.AITO M9 ranked rst in the new energy vehicle segment among Chinesebrands in the 2023 New Car Quality Report released by Autohome in2024. 2024 Product QualityReliability Innovation “Best Practice” DMAIC: DMAIC is a key tool in Six Sigma for process improvement. It consists of ve phases: Dene, Measure, Analyze, Improve, andControl, forming a structured approach to process enhancement. DFSS: Design for Six Sigma. Eight Disciplines Problem Solving，usually abbreviated to 8D, is also known as the team-oriented problem-solving method or 8D report.It is a methodology for identifying and resolving problems, which is commonly used by quality engineers and other professionals. Quality Academy 6Sigma and Related Knowledge Training 8D Training ●Key Course Promotion: Launched Group-wide key course learning activities, o?ering 12 coursesto over 10,000 employees. ●Knowledge Assessments: Conducted quality knowledge assessments for 2,341 key personnel toenhance their quality awareness and expertise. ●System Knowledge Training: Provided external training on R156 standards and VDA6.3 processaudit standards, as well as internal training on basic knowledge for internal auditors and IATF16949 fundamentals. ●O?ered training courses for all quality and technical personnel, including 6Sigma DMAIC BlackBelt, 6Sigma DMAIC Green Belt, DFSS Green Belt, and basic quality tools. The total trainingduration reached 720 hours, attracting 1,347 participants. ●Organized both online and o?ine training sessions on 8D tool knowledge, experience sharing,and case studies for all quality and technical personnel. The training attracted 4,580 participants. In 2024, the Group launched its third “Quality Month” under the theme “Follow Standards,Adhere to Processes, Ensure Implementation, and Create Excellence.” The event included16 activities, such as the Excellence in Quality Campaign, practicing the “Three No Princi- The Launching Ceremony ofthe Quality Month in 2024 ples” (No Acceptance, No Produc-tion, and No Transfer of Defects),improving dealer service quality,and the SPS Skills Competition.Through the “Seven Checks” initia-tive (checking quality awareness,quality levels, assurance systems,standard implementation, etc.), theGroup identified and addressedpotential quality risks, fostering astrong culture of quality. Case: “Quality Month” Activity and Quality Pledge Conference Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Protect Product Safety The Group adheres to the philosophy that “safety isthe ultimate luxury.” By adopting a product monitoringsystem that combines “hardware-software collaboration,dynamic and static testing, automated inspection, andAI technology,” we have developed a comprehensiveintelligent safety system covering nine key areas: drivingsafety, active safety, passive safety, power and energysafety, information (privacy) safety, (expected) functionalsafety, health safety, protection safety, and safetymonitoring and services. This system provides all-aroundprotection for user safety. InformationPrivacySafety Power andEnergySafety Focused on real-world driving scenarios, the Group leverages professional collaboration to provide comprehensive safetyprotection for drivers and passengers. All-scenarios Intelligent Safety SystemDrivingSafety ActiveSafety Comprehensive monitoring of potential collision risks with early warnings and hazard avoidance: ●Emergency Steering Assist System: The AITO M9 is equipped with an emergency steering assist system to enhancehazard avoidance and driving safety. ●Forward Automatic Emergency Braking: The AITO M9 can perform emergency braking for stationary vehicles at speeds ofup to 120 km/h. Exceeding national safety standards for lithium battery reliability, thermal safety, and waterproof performance: ●Power Battery Testing: Batteries surpass national safety standards across all tests.Building Competitive Privacy Protection Features with Advanced Technologies, such as permission management, dataisolation, and sensitive information concealment: ●Privacy Protection: Includes multi-passenger privacy mode and safe mode (o?ine mode) to enhance user privacy. Enhanced product safety through high-strength materials and advanced technologies: ●Ultra-Strong Body Structure: The AITO M9 body is made of 80% aluminum alloy with 12 reinforced areas using 2,000MPasubmarine-grade hot-formed steel. ●Mega Integrated Die Casting: The rear body of the AITO M9 is made using nearly 10,000 ton die-casting machine,optimizing structural integrity.PassiveSafety Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities SafetyMonitoringandServices Leveraging telematics and big data algorithms for accurate risk detection and alerts such as thermal runaway, collisions,and tire blowouts: ●Real-Time Warnings and Alerts: Provides second-level responses to sudden vehicle status changes, delivering proactiveand reactive intelligent services. ●Abnormal Issue Resolution: Quickly analyzes and resolves abnormalities, automates major collision event handling, ando?ers proactive care services. ●In 2024, the Group issued 39,301 warnings, 96,436 alerts, and provided 55,111 intelligent services. Battery Safety Product Health and Safety The Group continues to improve battery safety through advancedtechnology, refining cell design, system integration, and cloud-based monitoring. By incorporating a high-voltage redundantarchitecture, it has significantly enhanced battery reliability.Committed to innovation, the Group oversees the entire lifecycleof power batteries, creating a closed-loop system that supports asustainable circular economy. In 2024, leveraging its self-developedbattery cloud platform, the Group enabled real-time tracking ofstate of health (SOH), state of function (SOF), and performancedegradation. This proactive system detects early warning signs offaults, ensuring safer battery operation in vehicles. The AITO M7model was recognized as the “2024 Outstanding Model in China’sElectric Vehicle Fire Safety Index” for its exceptional battery safetyperformance.Additionally, with leading industry testing organizations to conductrigorous battery safety tests and certications, meeting all relevantstandards. During the reporting period, the AITO series maintaineda flawless record, with over 500,000 batteries in use with “zeroincidents of spontaneous combustion,” highlighting the Group’sexceptional commitment to battery safety.We prioritize a healthy cabin environment by addressing keyfactors such as low chemical pollution, in-cabin air purification,reduced electromagnetic radiation, microbial protection, andintelligent monitoring. This ensures a safer, more comfortable in-car experience. In 2024, the Group introduced a comprehensivehealth management system, launched a user health data monitoringplatform, and set an acceptance standard covering 213 healthindicators. This system enables dynamic, visual tracking of in-cabinenvironmental quality. Health Safety Protection Safety Meeting high environmental and health standards to ensure a safe and healthy mobile space: ●Medical-Grade Health Technology: The AITO M9 is equipped with multiple advanced materials and medical-gradetechnologies, achieving triple authoritative certications for comprehensive user health protection.Prioritizing occupant safety for stability and reliability in collisions: ●Low-Voltage Electrical Safety Solution: Designed to mitigate risks such as damage to the front compartment fuse box orunlocking failures post-collision. (Expected)Functional Safety Established management systems aligned with international standards: ●Functional Safety: The AITO complies with ISO 26262:2018 standards, establishing a development and managementprocess system that meets ASIL D levels. It has also received certication from Germany’s DAkkS , covering functionaldomains such as power, chassis, body, intelligent driving, and cabin. ●Expected Functional Safety: The AITO complies with ISO 21448:2022 standards, establishing a comprehensive expectedfunctional safety development and management system. It has also received certication from UL Solutions , coveringautonomous driving functions and HMI interactions. ASIL D: Automotive Safety Integrity Level D. Dakks: Deutsche Akkreditierungsstelle. The Accreditation Body of the Federal Republic of Germany. UL Solution: A globally recognized authority for safety certication, aimed at ensuring product safety, reliability, and sustainability. HMI: Human-Machine Interface. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities In 2024, the AITO M9 2024 Extended Range Ultra version wasawarded the “Five-Star Healthy Car” certication by the AutomotiveHealth Joint Research Center. As of the end of the reporting period, the AITO series models hadachieved the CN95 Healthy Cabin 5A Certification, China’s first“Health+” Certification, and the C-AHI “Five-Star Healthy Car”Certication, setting a new benchmark for “healthy cars.” Additionally,both the AITO New M7 and AITO M5 models were awarded the “ZeroFormaldehyde” car certication.In 2024, the Group established a development system for expectedfunctional safety in compliance with ISO 21448:2022, earninga certification from the internationally recognized authority ULSolutions. Reducing In-Cabin Allergen Risks (VAR) Integrated “Smart Clean” technologies into automotive systems,achieving a 99.9% disinfection rate and e?ectively eliminating variousviruses.Implemented intelligent fresh air technology for active purification,including parking ventilation, self-drying air conditioning, and one-clickodor removal, ensuring a cleaner and fresher cabin environment.Carefully selected materials for seats, armrests, and steering wheels toprioritize user safety, especially for individuals with skin sensitivities andchildren. The use of harmful substances was strictly prohibited. Used eco-friendly soundproofing materials (EVA+PU), dual-component acoustic cotton, non-toxic water-based adhesives,and low-VOC liquid damping pads to replace traditional asphalt-based materials, removing harmful materials at the source. Thesee?orts reduced VOC concentrations by 35% compared to industrystandards.Established a VOC testing and analysis center to conduct rigorousVOC and Vehicle Odor Intensity (VOI ) tests from the earlydevelopment stages.Created “Golden Nose Teams” at each factory, providing specializedtraining on odor detection to ensure a consistently high standard forin-cabin air quality. Multi-dimensional healthy cabin system Honor and Certicate Related to Product Health and Safety Conducted multiple rounds of EMR testing, keeping in-cabin elec-tromagnetic radiation well within the excellent range dened by theChina Automotive Health Index Management Center.Assembled a health engineering team and developed a comprehen-sive EMR analysis model, ensuring 100% compliance with electro-magnetic compatibility standards for key components. In-cabin Health Technology InnovationLow Electromagnetic Radiation (EMR ) ManagementVolatile Organic Compounds (VOC ) Control “Five-Star Healthy Car” Trophy“Zero Formaldehyde” Car CerticateUL Solution Certicate VOC: Volatile Organic Compounds. VOI: Vehicle Odor Intensity. EMR: Electromagnetic Radiation. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities User Service System Service SystemThe Group has optimized its user service model around ve key principles: convenience, thoughtfulness, reassurance, sincerity, and care. With apersonalized and fully integrated service approach, we maintain strict quality standards and e?cient response mechanisms in place, supported bya intelligent digital ecosystem that enables seamless, intelligent user interactions. This allows us to quickly recognize and address diverse customerneeds, ensuring a smooth and e?cient service experience. By the end of the reporting period, our proactive intelligent service system had engagedwith users over 18,000 times, reducing maintenance time by more than 120,000 hours. Serve Users WholeheartedlyInform users proactively and prioritize free service entitlements.Provide a replacement vehicle or compensation if quality issue repairs exceeding 24 hours.A tenfold compensation for using counterfeit or substandard parts. Free service if basic maintenance exceeds 45 minutes.Lifetime Warranty for Bodywork Repairs and 4-Year Warranty for Mechanical Repairs.Craftsmanship/Outstanding QualityExcellent CerticateManagement SystemStandards for Sheet Metal Spraying and Mechanical and ElectricalMaintenance Standards for Luxury Service Experience Strict regulations must be complied with everything from servicepersonnel behavior standards tohardware equipment. Strict standardsare set for everything from teacups,tableware to hardware congurations. Intelligent driving benets, supply stations,spare tire loans, return trip guarantees, andself-driving trip protection.Upgraded from a 3-level to a 3+1 qualityinspection system for repair quality andbodywork processes. Charging days, seasonal check-ups,service days, and extended night hours. Digital transparent workshops, transparentmaintenance, and exclusive servicegroups with a central kitchen model. M9 club events, user co-creation activities(factory open days, extreme conditiontesting, new model experiences, volunteeractivities), and user center salons. Seamless integration of multiple systems(DMO, EPM, App, Mini Programs) toaccurately identify and address user needs,providing end-to-end services. Sales referral benets, long-mileage user care benets. Remote diagnostics and digitalpainting robotsDigital Ecosystem Enhanced reception standards, diningservices, and hardware standards. Exclusive User Gratitude BenetsDiverse Car-Life Co-CreationMulti-Dimensional Intelligent InteractionWorry-free ServiceMaintenance Consistency Assurance System Upgraded all-scenario roadsideassistance, including spare tire delivery services. Intelligent SolutionsUpgraded Exclusive SpacesWorry-free Driving Worry-free Travel Five-Heart Service ProcessRigorous Service Quality StandardsFast Response MechanismsE?cient Training and Certication System Wholehearted Service/Sincere Treatment Intelligent Empowerment/ Technology Leadership Exclusive Experience/ Luxury ServiceServiceCommit-mentsCoreValues ServiceSystemSupport Pillars ofAssurance User Service Full Life Cycle User Service The Group is committed to putting users rst, embeddingthis philosophy into every aspect of its service system.By providing comprehensive, professional solutions andupholding responsible marketing principles, it continuouslyenhances service quality and the overall user experience. We have developed a multi-dimensional service systemthat leverages technology and process optimization toimprove service quality, boost efficiency, and maximizeuser value. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesLuxury Service ExperienceThe Group has established internal management mechanisms,including the Luxury Service Experience Standard Manual, tocomprehensively upgrade service standards and create a new luxuryservice experience. In 2024, we o?cially launched new luxury serviceexperience standards, covering sta? presentations, service etiquette,operational protocols, and key case studies. These guidelines wereintegrated into strict retail inspection criteria to ensure consistentexecution.We have adopted the “AITO Excellence Service Certification” asthe foundation for the luxury service experience. This certificationincludes on-site evaluations and key performance indicators acrosstwo major areas: mechanical-electrical services and bodywork-painting expertise. It assesses technical skills, work order compliance,parts and workshop management, as well as advanced metalworkingand painting techniques. To further enhance service efficiency, weintroduced specialized programs, including night service options,45-minute quick maintenance, and 8-hour express bodywork repairs.These initiatives have signicantly improved repair speed, customersatisfaction, and brand loyalty. Service E?ciency Improvement Specic Program Night Services45-minute Quick Maintenance8-hour Fast Bodywork Repairs ●Service Hours: After-sales service avail-able until 8:00 PM daily (9:00 PM in Xin-jiang). ●Dedicated rest areas with complimentarymeals and beverages. Users with con-rmed appointments can enjoy door-to-door vehicle delivery within a 20-kilome-ter radius. ●High-Frequency Basic Maintenance Ser-vices: Focused on the most frequentlyrequested basic maintenance items. ●45-Minute Basic Maintenance Standard: Far exceeds that of similiar projects inthe industry. ●Minor Damage Repair Services: De-signed for common accident-related ve-hicle damage. ●Comprehensive Process and StandardsUpgrade: Improved workflow, technicalstandards, and equipment to ensureminor damage repairs are completedwithin 8 hours, providing a faster, moreseamless repair experience. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities After-sales Service SystemFor AITO users, the Group has built a comprehensive after-sales support system, covering both vehicles and core components, along with a range of premiumfree basic benets. These o?erings are regularly updated based on market trends to ensure they align with user needs. To enhance long-term reliability, wehave developed a risk management matrix that spans the entire vehicle lifecycle. Recognizing the unique requirements of new energy vehicles, we provideexclusive protection plans, including extended vehicle warranties, battery health guarantees, intelligent driving insurance, and travel assurance packages.This creates a closed-loop management model focused on “demand prediction, service anticipation, and experience improvement.” RemoteTechnical Service Users can claim their rst free maintenance within 3 months of vehicle delivery, after 5,000 kilometers or 3,000 kilometers ofrange extender mileage, whichever comes rst.Users enjoy extended warranty servicesEntire Vehicle: 4 years or 100,000 kilometers, whichever comes rst.Three Electric Systems (Battery, Motor, Electronic Control): 8 years or160,000 kilometers, whichever comes rst.Range Extender: 8 years or 160,000 kilometers, whichever comes rst.Free 24/7 Roadside Assistance: From the delivery date, AITO users in mainland China receive unlimited free assistance for 4years by calling 400-008-9999. Services include spare tire delivery and other emergency support.The Group enhanced spare tire delivery and car cover services, completing 45,000 roadside assistance instances in 2024.Remote Diagnostics: For in-store repairs, technicians diagnose issues remotely before the visit, reducing repair time.Proactive Fault Monitoring: The system detects potential vehicle faults remotely, allowing service teams to contact users inadvance for timely resolution. Free Replacement Vehicle orCompensation: If a quality-relatedrepair takes more than 24 hoursduring the warranty period, usersreceive a free scooter service orcompensation. After-sales Rights SystemFree FirstMaintenance QualityAssuranceService Free ScooterService Road Rescue Service Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities To further improve the service experience for rst-time maintenance users, we upgraded the First Insurance Journey Blue Book to version 3.0. Thisversion establishes clear operational standards across 16 key service steps, including personalized communication (“two letters and one call”), quickinspections, and thoughtful follow-ups. Performance metrics such as follow-up completion rates, service satisfaction, and response times are directly tiedto employee compensation. This approach enhances sta? motivation and strengthens their sense of responsibility. First Insurance Service Process Before the rst insurance Preparation inadvanceJoyful welcome One bottle of water when getting out of the car Introduction to theHarmonyOS vehicle system Accurate recording WaitingPatiently TransparentprocessWarmfarewellsTake a photo with automobilesWarm deliverygiftManager Escort forvehicle deliveryConvenientSettlementComparison of old and new parts Considerate return visit Professional recording Polite blessings Two letters, one call and one position Send guidance Store explorationguideDuring the rstinsuranceAfter the rstinsurance Special delivery serviceTo further enhance the vehicle delivery experience,we integrated and upgraded the original AITO DeliveryScenario Standard Setup Plan 2.0 and AITO DeliveryScenario Advanced Setup Plan 1.0 into a unified AITODelivery Scenario Setup Plan 3.0. This update refinesboth basic and advanced delivery standards, allowingfor more personalized services tailored to users' diverseneeds. Additionally, we are committed to improvingterminal delivery service quality through the 2024 AITOUser Center Delivery & Service Attitude Zero-ToleranceManagement Measures. This policy defines strictservice guidelines, outlining zero-tolerance violationssuch as process non-compliance, service attitudeissues, unauthorized charges, and improper informationdisclosure. It also establishes clear assessment criteriaand disciplinary measures, ensuring a high-quality andreliable delivery experience for all users. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Centralized Delivery Customized Delivery Services for Holidaysor Special Occasions: Personalizeddelivery services designed for holidays orsignificant milestones, adding a sense ofcelebration and ceremony to the vehiclepickup experience. Remote and Doorstep Delivery Solutions: For users unable to visit the store due tospecial circumstances, delivery specialistsprovide online video inspections, remotepaperwork processing, and doorstepdelivery services, ensuring a seamlesshandover. For first-batch deliveries or high-volumehandovers at stores, we implementcentralized invitation and deliverymethods to streamline operations whileenhancing the ceremonial aspect of theexperience. Customized Delivery During TransportationAITO New M7 Centralized DeliveryCreative Delivery We incorporate innovative deliveryformats, such as equestrian-themedhandovers or delivery celebrations atlawn music festivals, making the processmore fun and memorable for users. Special Servive SystemCustomized Delivery HomeDelivery CreativeDelivery Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities User ActivityTo deepen interaction and communication with users, we organized a series of activities such as seasonal events, AITO Service Days,factory tours, and user-led car club events, o?ering diverse and creative experiences. In 2024, we held 1,323 user-centered activities,9 user co-creation events (e.g., factory visits, winter badminton tournaments), and 82 user-led car club events, with total participationexceeding 60,000 attendees. Annual User Experience Day: Recognizing users who have made notable contributions to AITO’s growth,we invite them to visit the Seres Super Factory for exclusive face-to-face meetings with executives andaward ceremonies, fostering a sense of brand pride.In 2024, we hosted 5 fun without boundaries vehicle-owner co-creation events with 200 participants.Owner Participation in Major Auto Shows: AITO owners were invited to directly engage with executives,discussing vehicle features, intelligent driving, and services.In 2024, AITO M5, M7, and M9 owners participated in auto shows held in Beijing, Chongqing, andGuangzhou.Extreme Climate Testing: Selected owners experienced AITO vehicles in deep cold, high-temperature,and high-altitude conditions, gaining hands-on insights into vehicle performance while reinforcing trust inquality.In 2024, we conducted extreme cold testing event, featuring owners of AITO M5, M7, and M9.Building a Unique Cultural System: The AITO M9 Club integrates culture, skill development, and publicwelfare, strengthening emotional connections with users.In 2024, we held four club events, including: cultural journeys to the National Museum of China, MBAexperience camps at Cheung Kong Graduate School of Business, cultural exploration in Jingdezhen, the“Porcelain Capital”, Leisure trips to Wanning, Hainan. User Activities in 2024 Rooted in user needs and ownership value, we offer a range ofcomplimentary service benefits for high-mileage users. Theseexclusive perks encourage continued trust and loyalty in AITOvehicles, further strengthening customer satisfaction and retention. Free Services for High-Mileage Users Fun WithoutBoundaries Car-Owner Co-Creation Day Car Show Volunteer &Executive Interaction Three-Extremes Testing& Owner-Executive Interaction AITO M9 Club Free AirConditioning Cleaning Air FilterReplacement BasicMaintenanceServices Free Front/Rear WiperReplacement Air FilterReplacement AromaReplacement Blocks Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesSeres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Case: Seasonal Check-Ups and AITO Service Day User Activities Seasonal Check-up ActivitiesAITO Service Day Activities In 2024, the Group organized four seasonal check-up events (spring, summer, autumn, and winter),attracting 132,927 users. These events provided free seasonal vehicle inspections, specialtybeverages, and check-in gifts, ensuring users’ vehicles remained in optimal condition. In 2024, we held two AITO Service Day events, attracting 32,971 users. These events o?ered safetyinspections, check-in gifts, and exclusive service discounts, creating a diverse and engaging after-sales service experience.Seasonal Check-up ActivitiesAITO Service Day Activity Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesCustomer Satisfaction and Complaint Satisfaction Surveys We view customer feedback as a valuable opportunityfor continuous improvement. By closely monitoring andresponding to user needs and expectations, we strive toenhance service quality and overall satisfaction. The Group utilizes structured internal management mechanisms, including the Delivery Satisfaction Survey Details and Service SatisfactionSurvey Details, to assess and improve the customer experience. Through platforms like the Seres Auto App and AITO App, we regularly conductcustomer satisfaction surveys covering key aspects such as delivery experience, service quality, and vehicle usage. Feedback is systematicallycollected and analyzed to generate Satisfaction Analysis Reports and Satisfaction Issue Follow-Up Tables, ensuring that customer concernsare properly tracked and addressed. In 2024, the Group achieved 97.10% service experience satisfaction, and 97.53% delivery experiencesatisfaction, which exceeded the annual target of maintaining delivery satisfaction above 95%. Issue Review and Rectication ImplementationOne-to-one Support for Problematic Stores Introduced a “Zero Tolerance for Service” policy and indicator-based control mechanisms to ensure the standardization andtimeliness of user services. Conduct daily, weekly, and monthly analyses of user feedbackto accurately identify operational weaknesses. Actionableimprovement plans are developed to address issues andprevent recurrence. Based on user feedback and satisfaction analysis, provideone-on-one online support or on-site guidance to underper-forming user centers, helping them improve service qualityand enhance user satisfaction. Mechanism Control Improvement Mechanism for Customer Satisfaction In 2024, the Group achieved 97.10% service experience satisfaction 97.53% delivery experience satisfaction Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesSeres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Case: AITO Ranks First in Brand Net Promoter Score (NPS) and Brand Development Condence Index byLandRoads In the second half of 2024, LandRoads conducted its sixth New Energy Vehicle (NEV) Brand Health Study, covering 67 NEV brands andgathering feedback from over 7,800 NEV owners.According to the report released in the second half of the year, AITO secured the top position in both Brand Net Promoter Score (NPS )and Brand Development Condence Index , further solidifying its leading position in the NEV market. LandRoads，an automotive market research institution，provides comprehensive market information and consulting services based on automotive market data. NPS: Measures the willingness of vehicle owners to recommend their current brand to others. Development Condence Index: Evaluates consumers’ condence in a brand’s future growth prospects. Complaint System We have a structured complaint management system with clear handling rules and assessment criteria. Built on internal frameworks suchas the Complaint Handling and Appeal Process, Crisis and Emergency Notication and Response Mechanism, and AITO Vehicle ComplaintManagement Measures, this system ensures consistent and efficient complaint resolution. By standardizing complaint handling, escalation,early warnings, and closed-loop resolution across all business units, experience stores, and customer centers, we have created a visualized andsystematic approach to managing user concerns. Complaint Handling ProcessHotline access byusers Information collection Customer complaint transfer Response tocustomer complaints First visit within 4 hoursCustomer complaintfollow-upCustomer complaintescalationCustomer complaintenforcementThree-day closed looprevisitsCustomer complaintclosure We collect customer feedback through a 24/7 (400) service hotlineand continuously monitor online public sentiment to understand userconcerns and suggestions in real time. To ensure e?cient responsesand resolutions, we have established clear complaint handlingprotocols, defining responsibilities and timelines for each stage ofthe process. Complaints are systematically categorized, allowing forquick identication and assignment to the appropriate departments.In 2024, we received 1,918 service complaints, all of which were100% e?ectively resolved. 1-Hour Response 4-Hour Follow-up Response 24-Hour Complaint Follow-up Responsible Parties: User Center, Experience Store,or Complaint Handler Responsible Parties: 400 Hotline (initial follow-up within3-4 hours after creating a work order) Responsible Parties: User Center, Experience Store, orComplaint Handler Complaint Handling Timelines and Responsible Parties To maintain high standards of professionalism and e?ciency, we conduct regular training programs focused on key areas such as service roleawareness, responsibilities, user satisfaction management, and service processes. These programs are designed to enhance the skills andexpertise of service personnel, enabling them to handle diverse customer needs and service scenarios e?ectively. Additionally, to align with new product launches and role-specic requirements, we implemented certication programs and specialized trainingusing an integrated theory-and-practice approach. These programs strengthen the expertise and performance of key personnel across variousroles. In 2024, we organized 585 specialized training sessions for sales, delivery, and service roles, with 20,838 participants. Main Training Courses in 2024 User Service Training The Group strictly adheres to laws and regulations such as theAdvertising Law of the People’s Republic of China and. andhas implemented a content dissemination compliance reviewmechanism to ensure marketing activities and sales practicesmeet regulatory standards. All external promotional data relatedto energy consumption, safety, and intelligent features mustbe certified by national authoritative bodies before release,ensuring accuracy and consistency in public communications.Additionally, compliant marketing is a key performance indicatorfor sales personnel, and we actively monitor consumer feedbackto prevent false advertising and excessive marketing incidents.To reinforce responsible marketing practices, we conductedspecialized training for sales, delivery, and service teams.These sessions covered market manager responsibilities, storemarketing activity management, and public sentiment handlingto strengthen compliance awareness. In 2024, we organized9 responsible marketing training sessions, involving over 360employees and totaling 8,640 training hours. Responsible Marketing In 2024, we organized responsible marketing training sessions,involving over employees Produce DeliveryUser CareUser Service Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities ●User Experience Management ●User Complaint Management ●New Delivery Process ●Delivery Satisfaction ●Satisfaction and Complaint Handling ●Service Etiquette ●Exclusive Service Groups ●User Activities and Car Clubs ●User Satisfaction Management ●User Service Process ●First Insurance Journey ●45-Minute Quick Maintenance ●Delivery Training: Conducted 128 sessions, training 2,412 participants with a total training duration of 77,184 hours. ●After-Sales Service Training: Conducted 295 sessions, training 3,905 participants with a total training duration of 124,960 hours. ● Online Certication for Key Roles: 5,353 personnel, including delivery assurance specialists, nancial specialists, and insurancespecialists, completed online certications, accumulating 160,590 hours of online learning. totaling8,640 training hours Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Information Safety andPrivacy Protection Information Safety Management System The Group strengthens its capabilities in information security anddata security management, actively conducting safety training andawareness campaigns to comprehensively enhance employees’security awareness and skills. Multiple measures are taken toensure user data security and privacy protection. The Group strictly complies with laws and regulations such as the Data Security Law of the People’s Republic of China and the PersonalInformation Protection Law of the People's Republic of China. To ensure comprehensive information security and privacy protection, we haveimplemented a structured management system consisting of: First-level Manuals and Regulations, Second-level Procedure Documents, Third-level Operational Guidelines, and Fourth-level Form Templates. This system applies to all employees, suppliers, and third-party partners,ensuring an all-around approach to information security. In 2024, in response to regulatory updates and evolving business needs, the Grouprevised key internal policies, including the Threat Monitoring, Analysis, and Response Process and the Network and Data Security TechnicalStandards, further aligning security strategies with operational needs.To further enhance governance, the Group established a Network and Data Security Committee as the highest decision-making body forinformation security. The committee is chaired by the Group’s president, with members including heads of business units and the director ofthe IT and Network Data Security Headquarters. The IT and Network Data Security Headquarters is responsible for managing and executingdata security strategies. The director oversees all data security initiatives and regularly reports progress to the president, ensuring e?ectiveimplementation of security measures. Network and Data Security Management Structure Seres Group Co., Ltd.IT and Network Data Security Headquarters IT PlanningandGovernanceDepartment ITApplicationOperationsDepartment IT Operations andMaintenanceDepartment EnterpriseNetwork andData Security Department ProductNetwork andData Security Department O?ceof DataProtection O?cer DigitalInnovationDepartment ITProcurementDepartment Special Committee on Network and Data Security Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesWe have established clear protocols for managing cybersecurity risks, guided by internal frameworks like the Cybersecurity Incident Responseand Handling Process and the Information Security Continuity Management Measures. These frameworks dene how security incidents areclassied, assessed, and addressed. To protect critical business functions, we have also developed continuity operation plans that help preventand mitigate security risks. These plans ensure systems remain operational, minimizing disruptions and maintaining business continuity. Additionally, we conduct routine vulnerability scans and penetrationtests on critical systems to quickly detect and address potentialsecurity threats. For new systems, we have established a strict pre-launch inspection process, assigning dedicated personnel to performvulnerability scans, penetration tests, baseline checks, and dataprotection assessments to ensure system security and reliability.In 2024, we established the Seres Network Security EmergencyResponse Center (SRC ), and introduced a bug bounty programto encourage white-hat security researchers to identify and reportvulnerabilities. This initiative has improved response times andlowered information security management costs. Furthermore, byworking with cybersecurity experts and anti-hacking professionals,we have expanded our access to security insights and vulnerabilityintelligence, further strengthening our defense systems. ●The Security Emergency Response Team coordinates with relevant departments, involved units, and external partners to executeresponse plans collaboratively. ● For Level I and Level II security incidents, regular updates on the handling progress are provided to the Group Security EmergencyResponse Leadership Team during the resolution process. Information Security Response Mechanism Incident Investigation Report Preparation Coordinated Execution and Handling Post-Incident Analysis and Improvement https://src.seres.cn/ Event Identication and Collection ●The Security Emergency Response Team identies and collects internal and external information security incidents. Security operationsexperts determine the type and level of the incidents to ensure comprehensiveness and accuracy. ●After incident resolution, the Security Emergency Response Team drafts an information security incident report, which is nalized afterreview. ●Based on weaknesses identied during the review, responsible parties implement targeted improvements to prevent similar incidents fromrecurring. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesData Security and Privacy ProtectionWe prioritize the protection of user data and privacy through adedicated Data Protection Officer (DPO) Office and a structuredset of policies. Internal guidelines, such as the Personal DataClassification and Grading Management Standards and thePersonal Data Security Incident Response Mechanism, are updatedto strengthen compliance. Public documents like the Seres GroupMainland O?cial Website Privacy Policy and the AITO AutomotivePrivacy Policy, clearly define user rights regarding data access,correction, deletion, and authorization adjustments. When collectinguser data, we strictly follow the principles of minimization, necessity,and legitimacy, ensuring that only essential information is gatheredfor providing products and services. Users are explicitly informedabout what data is collected and how it is used, respecting their rightto know and autonomy.In 2024, we actively promoted the SDLC (Software DevelopmentLife Cycle) mechanism, implementing the Privacy by Designconcept, and integrating data security and privacy protection into theearliest stages of system and product development to protect userprivacy rights. Implement a strict data accessmechanism, granting permissions basedon the principles of “separation of dutiesand least privilege” to minimize risk. Implements data masking andencryption for sensitive information,ensuring security during transmissionand storage. Require employees to sign CondentialityAgreements and Network andData Security Commitment Letters,clearly dening their obligations andresponsibilities regarding user informationcondentiality. Employees’ Data Security Management Mechanism https://auto.seres.cn/privacy https://aito.auto/privacy/ SDLC: Software Development Life Cycle For personnel handling core data, we enforce strict security protocols to ensure proper and compliant handling of sensitive information. Forthird-party partners such as suppliers, we rened the Supplier Network and Data Security Management Standards to reect real-world businessneeds. Security performance is now a key requirement for partnerships, with clear obligations and regular post-collaboration security evaluationsto maintain high data protection standards. In 2024, the Group experienced no privacy breaches or data security violations. Strict Permission ManagementData Masking and EncryptionCondentiality Agreements Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities The Group has established a comprehensive data securitymonitoring mechanism, regularly conducting data security auditsto promptly identify and address potential security risks. In 2024,audits were performed through system reviews, special audits, androutine inspections. Any identified issues were promptly reported,and corrective actions were required to ensure no major security orcompliance gaps. Assessed physical environment security, information systemsecurity, endpoint security, and supplier network and datasecurity management. Included physical environment inspections, security baselinereviews, weak password checks, and data leakage preventionaudits, ensuring continuous risk mitigation. Targeted high-risk areas, with a focus on account permissioncontrols and other critical security measures. Information Security Management System Internal Audit Safe Audit in 2024 Information Security and Privacy Protection PromotionTo further enhance employees’ awareness and skills ininformation security, we conducted a variety of online and o?ineactivities. These included cybersecurity and privacy protectioncampaigns, interactive quizzes, and information security drills.These activities provided a practical and engaging way foremployees to understand the importance of data protection andhow to apply security best practices in their daily work. In 2024,we organized 14 information security drills.Additionally, we reinforced security awareness by sharinginformation security tips through internal office software,providing network and data security resources on online learningplatforms and, displaying information security awarenessposters across o?ce locations.In 2024, the Group organized 58 training sessions coveringtopics such as network and data security, personal informationprotection, and security skill development. These sessionsreached 82,316 participants, totaling 290,416 training hours,achieving 100% employee participation in information securitytraining. Case: “Protect Privacy, Deliver Trust” First PrivacyProtection Promotion WeekIn 2024, the Group held its first Privacy Protection AwarenessWeek, utilizing both online and offline formats to attractsignificant employee engagement. This initiative furtherenhanced employees’ understanding of the importance ofprivacy protection and strengthened the Group’s overall privacyprotection capabilities. achieving 100% employee participation in information security training Special Inspections and Audits Routine Security Checks Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Case: Information Security Attack&Defense DrillsIn 2024, the Group organized 14 information securityattack and defense drills, covering scenarios such asdata breaches, phishing emails, and cybersecurity attackand defense simulations. These activities clarified theemergency response roles and responsibilities of relevantparties during security incidents. The drills achieved a 0%target compromise rate, fully validating the effectivenessof the Group’s security protection system in real-worldscenarios. Awarded as a “Benchmark Enterprise” inthe “Shielded Vehicle Network” Initiative forVehicle Network and Data Security Awarded as an “Outstanding Blue Team”in the “Shielded Vehicle Network” VehicleNetwork Attack and Defense Drill The Group’s Awards Related to Information Security in 2024 Information Security Emergency Response Drill Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Low-Carbon Operations,Green FutureThe Group is committed to utilizing its strengths in product technology and industrial chain. We actively explore anddevelop low-carbon technologies and products, and embed green and low-carbon principles throughout the entireproduct life cycle. We identify climate risks actively and pursue opportunities for sustainable growth. Through eco-friendly design, sustainable materials, cleaner production, e?cient logistics, and responsible o?ce practices, wesupport the low-carbon, sustainable development of the automotive industry.The calculation of carbon emissionsacross the whole product life cycle andper-unit mileage carbon footprint covers100% of productsNewly obtained green factorycertication subsidiariesInvestments in advanced energy-savingand environmentally friendly processesand equipment exceeded RMB 3.0 billion28 energy-saving retrot projectswere implemented across all factoriesthroughout the year, resulting in acumulative reduction of 4,096.8 tons of CO Procurement of recyclablepackaging materials forvehicle manufacturing100% Year-round water savingsfrom water reuse127,440 tonsImproving energy e?ciencymore than10%The year-on-year carbonemission intensity per unit in2024 decrease by 16.85% In 2024, the Group completed theconstruction and grid connection ofa 102MW photovoltaic project, witha total annual photovoltaic powerconsumption of 74.8289 million kWhGreen electricity from the grid 20.05 million kWhRenewable energy use as a percentageof manufacturing energy use 25.7% Annual employee travel carbonreduction through green ights andother low-carbon travel 811.3 tons of CO 2024 Highlights Performance SDGs Responses Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Climate Change Response Governance Strategy Clean Technology Strategy Climate change is reshaping the global environment,economy, and society in profound ways. We are committedto supporting the national “dual carbon” goals by takingaction based on the four key areas outlined in the IFRSS2 – Climate-Related Disclosures: governance, strategy,risk management, and metrics and targets. Our approachis designed to strengthen climate resilience while drivingsustainable business growth. The Board of Directors assumes ultimate responsibility forclimate change governance.The ESG Committee under the Board of Directors is responsiblefor reviewing the Group’s climate change-related objectives,strategies and management policies, and reviewing andmonitoring the implementation of climate change-relatedinitiatives.The Carbon Neutrality Task Force, led by the assistant vicepresident of the Group, consists of management representativesfrom the planning strategic headquarters, the supply chainsystem and various technical systems.The Carbon Neutrality Task Force is responsible for organizingthe coordination, implementation and scheduling of workplans for carbon peak and carbon neutrality and promoting theimplementation of climate strategy-related matters. We have established a three-tier climate governanceframework covering governance, management, andexecutive levels. This structure ensures effective oversightand implementation of climate-related initiatives. The Boardof Directors holds ultimate responsibility, providing strategicdirection and comprehensive oversight for all climategovernance matters. Responding to the global shift toward energy transformation,we actively pursue opportunities in clean energy and focus onadvancing product and technology upgrades. We continuouslywork on carbon inventory assessments and reduction plansto support the growth of a low-carbon, sustainable renewableenergy vehicle ecosystem. Our goal is to contribute to agreener future. Clean technology is a key driver of our business growth. Wepromote its adoption through both product development andproduction practices. On the product side, we are expandingour renewable energy vehicle portfolio, focusing on hybrid andpure electric models to meet rising market demand. In 2024,renewable energy vehicle revenue contributed more than93% to the Group’s total revenue. On the production side, wefollow the principles of being “green, low-carbon, circular, andintelligent.” We work closely with partners across the supplychain to reduce the carbon footprint of our products. In 2024,we set a cleantech investment target of over RMB 7.0 billionand have met our goal. GovernanceLevelManagementLevel ExecutiveLevel Climate Governance Structure In 2024, we set an investment target ofmore than RMB 7.0 billion Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesLow-carbon industrial chain layout To promote low-carbon technology and a carbon circular economy, Seres Group is exploring advanced elds like AI-driven energy saving, low-carbon materials, integrated die-casting, high-e?ciency range extenders, andintelligent driving. We are also exploring innovative business models, including virtual power plants, renewable energy trading, carbon sinks, and carbon credits. These e?orts form the foundation of our comprehensive anddiversied green development strategy. ●We collaborate closely with leading technology partners like CATL, Wencan,and Huawei to drive the research, development, and application of low-carbontechnologies. From raw material sourcing to technical support, we ensure that greeninnovation is integrated throughout the entire product life cycle. ●Sustainable development targets are set for all suppliers, covering key areas such asthe percentage of green electricity used, the proportion of recycled materials, carbonemission intensity, and energy consumption per product unit. ● 47.5% of our suppliers have adopted renewable energy for production, surpassing the 2030 target. In 2024, signicant reductions in carbon emissions have been recordedamong key suppliers, including zero-carbon production for battery suppliers, a 44.14%drop in carbon emissions for electric drive suppliers, a 57.6% drop in carbon emissionsfor seat suppliers, a 5% drop in carbon emissions for glass suppliers, and a 21.4%drop in carbon emissions for wheel suppliers. ●We conduct assessments and evaluations based on the Green Supply ChainEnvironmental Management Assessment Form. Carbon emission performance is akey criterion for assessment and contract decisions and suppliers that meet carbonreduction targets receive additional points in procurement appraisals. ●Our production strategy is guided by thephilosophy of "green and low-carbon."We invest in industry-leading, energy-efficient, and eco-friendly equipment tobuild sustainable production lines andempower green products. In 2024, weintroduced over 14 advanced energy-saving processes and technologies,such as the die-casting process, B1B2 process, and water reuse systems.These initiatives involved an investmentof over RMB 3.0 billion, resulting in a10% increase in energy e?ciency. ●Please refer to “Green Production” fordetails. ●We focus on enhancing product energyefficiency, optimizing power systems,and reducing emissions. Our intelligenttechnology platform, DE-i , enables lowenergy consumption, high efficiency,extended range, and high performance .In 2024, the user charging mileagewas 4.64 billion kilometers, and carbonemission reduction was 1.022 milliontons. ●We continuously expandrenewable energy productseries, achieving dual-trackdevelopment of extendedrange and pure electricvehicles advancing bothextended-range and pureelectric models to meetdiverse market demands. Upstream SupplyProduction and ManufacturingDownstream UtilizationProduct Line Layout B1B2： A type of automobile painting process, which involves applying top coat B1 → top coat B2 → moisture pre-drying → clear coat → clear coat drying. DE-i: Dedicated Electric Intelligent, a super electric drive intelligent technology platform. Please refer to the Group’s 2023 ESG report P42 for details, https://cdn-web.seres.cn/uploads/20241011/a5328069e03f72923d6fde0efccafcab.pdf. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesCarbon Inventory and Carbon Footprint AccountingTo better manage the full life cycle carbon footprint of ourproducts, we have fulfilled multiple functions includingcorporate carbon inventory, per vehicle parts carbon footprintaccounting, and internal carbon target management bydeveloping a digital carbon management platform. Our carboninventory system connects with the energy managementsystems of all factories, enabling real-time monitoring ofcarbon emissions and energy use. This serves as a criticaltool for evaluating internal carbon performance. The carbonfootprint management system integrates with the supplierprocurement system, allowing us to collect the information ofcarbon emissions and energy consumption at supplier sites.This serves as a critical tool for e?ective assessing upstreamsupply chain carbon emissions and energy consumptionperformance. At the same time, the carbon footprint systemhas established various accounting models to calculate thecarbon footprint of products and components throughouttheir life cycles, generating detailed carbon footprint reports.We continuously monitor site-specific supplier emissions, thepercentage of renewable energy usage, and the proportionof low-carbon materials. Carbon footprint managementrequirements have been integrated into procurement standardsfor key components to encourage low-carbon transformationacross core parts. In 2024, we optimized the digital carbonmanagement platform for multiple times. These upgrades havebeen certified by third parties, continuously empowering ourcarbon emissions and carbon footprint management. Carbon Footprint of Core Products throughout their Life Cycles The Group has conducted carbon inventory and product carbon footprint assessments using its digitalcarbon management platform. As of the end of the reporting period, we completed our annual carboninventory in line with the ISO 14064:2006 standard. This assessment covered the entire Seres Group,including Seres Auto, Seres Automobile (Hubei), Xiaokang Power, Jinkang Power, and XiaokangParts. Carbon footprint calculations have been completed for 100% of our products. * The carbon footprint label is based on the notication and disclosure information from the China Automobile Industry ChainCarbon Publicity Platform (CPP).Digital Carbon ManagementPlatform Certications Vehicle Mode Carbon Emissionsthroughout Life Cycles （kgCO e） Product Carbon Footprintper Unit Mileage （gCO e/km） CPP Platform*AITO M5 EVR39,192261.28AITO M5 EV33,173221.15AITO M7 Pro42,199281.33AITO M7 Ultra41,943279.62AITO M9 EVR46,095307.30AITO M9 EV47,103252.04E535,057233.71 Carbon Rating Label Level 1Low Carbon+ Carbon Rating Label Level 1Low Carbon+ Carbon Rating Label Level 1Low Carbon+ Carbon Rating Label Level 1Low Carbon+ Carbon Rating Label Level 1Low Carbon+ Carbon Rating Label Level 1Low Carbon+ Carbon Rating Label Level 1Low Carbon+ Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesRisk managementWe actively address the challenges and opportunities of global climate change by integrating climate-related risks into the Group’s overall risk management system. Through a systematic approach, we identify, assess, andmanage these risks and opportunities. This strengthens our climate resilience while enabling us to seize new growth opportunities. Climate-related Risks and Responses Risk NameRisk DescriptionResponse MeasuresPolicy Risk ● Global and local governments may introduce stricter environmentalregulations, such as carbon emission limits and emissions tradingsystems, increasing corporate compliance costs. ●Regulations on energy use and emissions could impact raw materialprocurement, production processes, and other operations, leading tohigher operating expenses. ●Strengthen the management framework of the Carbon Neutrality Task Force, with clearly definedresponsibilities. Continuously monitor policy changes, assess potential impacts, and develop proactiveresponse plans. ●Enhance emissions compliance management by promptly adjusting production processes and energyuse, avoiding unnecessary costs and mitigating risks. Technical Risk ● The rapid advancement of low-carbon technologies may reduce themarket competitiveness of existing technologies and products. ●High R&D costs for new technologies can create nancial pressure in theshort term, particularly before these technologies are fully developed andgenerate returns. ●Increase investment in R&D for clean and renewable energy technologies to strengthen innovationcapabilities and ensure that existing technologies stay competitive and aligned with industry trends. ● Establish a technology early warning system to closely monitor market and technological changes.Plan proactively for technological upgrades and seek partnerships to share R&D resources.Market Risk ●Increased consumer awareness of environmental issues is driving higherdemand for low-carbon products, while traditional high-carbon productsface a shrinking market. ●Actively develop renewable energy vehicles to meet the growing demand for green products. ●Strengthen market research to track industry and consumer trends, ensuring product lines remainexible and adaptable to changing market needs, and enhance brand marketing and promotion. Reputational Risk ●Public and investor concern over corporate environmental performanceis rising. Companies that fail to fulfill social responsibilities or responde?ectively to climate change may face criticism and reputational damage. ●Enhance ESG information disclosure by regularly sharing the Group’s environmental goals,achievements, and future plans to strengthen transparency and build trust. ●Actively engage in social responsibility initiatives, including public welfare and environmentalprotection projects, to enhance brand image. ●Participate in climate response conferences and dialogues to promote green and low-carbon practiceswhile enhancing the inuence of our renewable energy products. Transformation Risk Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesSeres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Risk NameRisk DescriptionResponse Measures Acute PhysicalRisk ●Extreme weather events, such as typhoons, floods, and snowstorms, candisrupt production facilities and supply chains, a?ecting operations and causingproperty damage. ●Infrastructure damage, including transportation networks and power supply,can lead to production delays, impacting product delivery and reputation. ●Strengthen risk assessments and implement emergency response plans and drills to ensure rapid actionand minimize losses during extreme weather events. ●Upgrade infrastructure and adopt disaster-resistant equipment and facilities to ensure stable operationsand reduce disaster-related impacts. Chronic PhysicalRisks ● Long-term climate changes, such as rising temperatures, sea levels, anddroughts, may affect resource stability and disrupt supply chains, leading toproduction constraints. ● Resource scarcity and increasing production costs can impact operationale?ciency, product pricing, protability, and market competitiveness. ●Assess the long-term effects of climate change on production bases and supply chains. Plan foradjustments and select resilient, environmentally friendly supply chain pathways. ●Continuously monitor climate trends, optimize resource efficiency, and promote the use of greentechnologies and sustainable materials to reduce production costs and environmental risks. Physical Risks Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesSeres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Opportunity Name Opportunity DescriptionResponsesProducts and Services ● Growing demand for green consumption, alongwith supportive national policies, is creating greateropportunities for the development of renewable energyvehicles. We can increase market share by launchinginnovative and competitive renewable energy vehicleproducts. ●Increase R&D investment to enhance the technical performanceand range of renewable energy vehicles. Develop a diversiedproduct lineup to better meet evolving market demands andstrengthen market appeal. ResourceE?ciency ●Improving resource utilization and recycling can reduceproduction costs while generating environmentalbenefits by minimizing waste emissions and resourceconsumption. ●Optimize production processes to enhance the efficient useof energy and raw materials, lowering unnecessary resourceconsumption and reducing production costs. ● Promote the circular economy model by increasing recyclingand reuse rates throughout the product life cycle, reducingwaste emissions and minimizing environmental impact. EnergySource ● Adopting renewable energy sources like solar andwind helps reduce carbon emissions, enhance ourenvironmental image, and mitigate risks from potentialfuture energy price uctuations. ●Increase investment in renewable energy projects to graduallyreplace traditional energy sources. Reduce overall energyconsumption and carbon emissions, further strengthening theGroup's green image.Capital Market ●The rise of global green nance o?ers better nancingopportunities and preferential policies for companiesusing clean energy. We can leverage this trend to attractinvestment and optimize capital costs. ●Strengthen ESG performance by enhancing transparency andbuilding investor trust, attracting long-term green investors. ●Actively apply for green bonds and nancing for environmentallyfriendly projects. Utilize green financial products to lowernancing costs and secure greater capital support. Climate-related Opportunities and Responses Metrics and targetsWe have established a scientic system for climate change indicatorsand targets, driving our green and low-carbon transformation. Thisincludes assessing key indicators like carbon emissions and productcarbon footprints, alongside setting targets for carbon emissionintensity and clean energy utilization. In 2024, the Group investedRMB 770 million in energy-saving and emission reduction actions.We continue to promote emissions reduction strategies withclear, target-oriented actions. Our 2030 climate-related goalsinclude reducing product carbon footprints, increasing renewableenergy usage, and cutting supplier emissions, covering Scope 3greenhouse gas emissions. In addition, we have introduced a newthree-year carbon reduction target for 2025–2027 to further refineour low-carbon development path. In 2024, through initiatives likephotovoltaic construction, energy-saving upgrades, green officepractices, and the development of a green supply chain, the Groupreduced its carbon emission intensity by 16.85% compared to 2023. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Reduce carbon emission intensity per vehicle by 14%Incorporate carbon footprint management requirementsinto procurement standards for key parts and components.Implement carbon reduction initiatives for core raw materi-als, including automotive steel and aluminumPromote green and low-carbon manufacturing by develop-ing “photovoltaic + energy storage” car-making processes. Maintain the carbon emission intensity per vehicle at2025 levelsEstablish a carbon control indicator system coveringthe entire product life cycle. Develop a green and low-carbon supply chain management system.Advance green manufacturing transformation, includingprocess optimization, lighting upgrades, green logistics,and intelligent energy and carbon management. Carbon emissionintensity per vehiclewill decrease by 17%compared to 2024 Three-year Carbon Reduction Targets from 2025 to 2027202520262027 Category UnitDataScope 1 Greenhouse Gas Emissions tCO e88,690.29Scope 2 Greenhouse Gas EmissionstCO e183,534.44Scope 3 Greenhouse Gas EmissionstCO e69,946.82Total Greenhouse Gas EmissionstCO e342,171.55Greenhouse Gas Emission Intensity tCO e /RMB 10,000revenue 0.02 Greenhouse Gas Emissions in 2024 The Group was selected as the “Climate-friendlyEnterprise Project Case” in the Pearl Cup for itsexceptional performance in addressing climatechange. Climate-related Targets Compared with 2022,the carbon emissionintensity of products willbe reduced by more than 38% Renewable energyuse as a percentage ofmanufacturing energy use30%Proportion of suppliersmeeting green supplierrequirement 100% Proportion of suppliers usingrenewable energy 40% Supplier carbon emissionswill be decreased by25% Strive for carbon neutrality in production and operationsStrive for near-zero emissions throughout the product life cycle By 2030， By 2045, Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Low-carbon Design of the Whole Vehicle Green DesignTo shape the future of intelligent travel, we drive innovation in low-carbon and lightweight design, promoting sustainabledevelopment for both the Group and society through green designs.Low-carbon design Committed to the “green, low-carbon, circular and smart” philosophy, we have adopted various low-carbon designs in R&Dand recycling, achieving the goal of clean technology development. We lead the development of a dual-layer ow air conditioning system, saving 30–40% more energyper vehicle compared to conventional systems during winter heating. We continuously optimize range extender performance, improving internal combustion engine thermale?ciency and reducing carbon emissions.In 2024, we successfully conducted a pre-research on wireless charging solutions using advancedmagnetic resonance technology. Integrated with the automatic parking system, this solution enablescontactless charging, reducing wear on physical interfaces and extending vehicle lifespan.We optimize the exhaust purification system to minimize hazardous gases and greenhouse gasemissions. E?cient AirConditioningSystem This integrated design reduces overall vehicle weight and energy consumption, enhancing e?ciency. Seven-in-oneElectric Drive AssemblyE?cient Range Extender Wireless Charging Technology We promote the use of vehicle-to-grid (V2G) technology in renewable energy vehicles, enhancingthe e?cient application of clean energy.Energy Storage EquipmentExhaustEmissions V2G: Vehicle-to-Grid. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesLightweight design Following the principle of “precise material application, ultimate optimization, and extreme balance,” we explore innovative lightweight solutions throughmultiple approaches. These include leveraging previous design experiences, benchmarking against core competitor models, collaborating with suppliers,and conducting pre-research on industry-leading technologies. Our goal is to enhance energy e?ciency and conserve resources while maintainingperformance and safety standards. In 2024, we advanced our lightweight design e?orts by proposing over 1,500 solutions. Notably, we introduced oneindustry-rst and ve company-rst lightweight solutions in the implementation of model projects. Lightweight Design Optimization Lightweight target ●We actively study advanced high-strength steel, lightweight alloys, andadvanced non-metallic materials, such as 1,700 MPa thermal formedsteel, 7-series aluminum alloys, and low-density high-performancecomposite materials. ●2GPa thermal formed steel bumper beam contributes to acomprehensive weight reduction of about 13%. ●Aluminum alloy front subframe contributes to a comprehensive weightreduction of about 25%. ● Aluminum alloy threshold beam contributes to a comprehensive weightreduction of about 25%. ●Aluminum alloy front-end cover contributes to a comprehensive weightreduction of about 40%. ●Magnesium alloy seat frame contributes to a comprehensive weightreduction of about 25%. ●High-end LGF reinforced materials for steel being replaced withplastic contributes to a comprehensive weight production of about 30%. ●We actively study new forming and joiningprocesses, such as semi solid forming,thermoforming，and F-SPR . ●Thermal formed TWB A/B pillars contributeto a comprehensive reduction of about 10%. ●Semi solid forming CCB contributes to acomprehensive weight reduction of about10%. ●Integrated die casting contributes to acomprehensive weight reduction of about30%. ●TRB bumper beam contributes to acomprehensive weight reduction of about10%. ●We actively study newCAE optimizationmethods for thinner-walled and integratedoptimization, such asAI-predicted thresholdbeam structureoptimization. ●We apply theglobally leadingnearly 10,000 tonsintegrated die-castingmachine to e?ectivelightweighting. Material Optimization Process Optimization Structure Optimization Case： AITO M9 Xuanwu Lightweight BodyThe Xuanwu body of the AITO M9 is developed by theCompany’s first internally built integrated die-castingaluminum alloy design and simulation platform. It isthe largest integrated die-cast body structure globallyand won the “Aluminum Structural Component ofthe Year” award at 2023 North American Die CastingExhibition. AITO M9 body adopted a one-piece andintegrated die-casting design, reducing the use of 212parts and 1,440 connections between parts. Torsionalstiffness of the Xuanwu body increases by 24% withthe lightweight coe?cient as low as 2.02. While leadingin lightweighting, the Xuanwu body also meets theindustry’s top standard for structural safety. LGF: Long Glass Fiber Reinforced Polypropylene, automotive module carrier material. F-SPR: Friction Self-Piercing Riveting, a welding technology. TWB： Tailored Welded Blank, a variable cross-section thin plate used for car body manufacturing. CCB: Cluster Control Board, an important part of the dashboard assembly. TRB： Torsion Beam Rear Suspension, a suspension form widely used in small cars. CAE： Computer-Aided Engineering. By 2030, raw materials will reduce weight by over10% compared to 2022. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Green MaterialsDriven by the principle of sustainability, we prioritize green material procurement and development for all core materials. We actively promote the use of eco-friendly materials and work closely with suppliers to reduce rawmaterial carbon emissions.Green Material Application Green Material Application ●We integrate carbon footprint managementrequirements into procurement standards for keycomponents, promoting the low-carbon transformationof core raw materials (automotive steel and aluminum). ●We adopt advanced, eco-friendly materials in vehiclecabins, including solvent-free leather, aqueousadhesives, and paint-free materials, to reduceemissions during material production. ●A material approval library has been established toprioritize the use of approved materials during productdevelopment and design. This approach enhancestransparency, shortens material development andverication cycles, and minimizes resource waste fromsample production. Raise the Ratio of Green Materials Used ● We recycle raw materials, such asaluminum alloy o?-cuts and drainageopenings, to maximize the carbonreduction benets of aluminum usage. ● Advanced testing technologies areintroduced to ensure the qualityand sustainability of recycled rawmaterials, promoting high-qualityrecycling and reuse practices. ●AITO M9 achieved an averagerecycling rate of 97% and an averagereusability rate of 93%. ●We collaborate with multiple raw material suppliers todevelop green materials, such as bio-based materials,advanced high-strength steel, recyclable aluminum, heattreatment-free materials, recycled plastics, and naturalbers. Additionally, we actively explore the application ofthese materials when developing new products. ●Corporate standards, including the PCR ConsistencyManagement Specication, material approval standards,and test outlines, have been established to ensure thequality and consistency of green and low-carbon PP materials. ●Several bio-based material suppliers have beencertified. Currently, over 30 grades of PCR materialsand more than 10 grades of bio-based materialsfrom multiple suppliers are nearing the completion ofdevelopment and verication. Promote Tests and Utilization ofRecycled Materials Cooperate with Suppliers to Develop Green Materials ●We strictly comply with the re-quirements of environmentalprotection laws and regulationsand have updated and publishedSERES-QA-COP2-06-10 Man-agement Measures for BannedSubstances, Recyclable Utiliza-tion and Vehicle Dismantling, pro-viding standardized guidance forthe consistent control of bannedsubstances and recyclable prod-ucts. Strict Management of Hazardous Substance PCR： Post-Consumer Recycled Plastics，which refer to recycled plastics after being consumed and used. PP： Polypropylene, one of the most commonly used plastics. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesGreen ProductionThe Group is committed to establishing a comprehensiveenvironmental management system, enhancing green productionacross energy, water, and exhaust emission management. Weprioritize environmental compliance and actively work to minimizethe environmental impact of our production processes. We ensure strict adherence to environmental laws and regulations,maintaining legal and compliant production and operations. Wecollaborate with our suppliers, employees and other partners torealize our green goals. Environmental Compliance Management The Group strictly adheres to the Environmental Protection Lawof the People's Republic of China and other related laws andregulations and has formulated a range of internal managementsystems, such as the Measures for Pollution Prevention and ControlManagement. In 2024, we signed the 2024 Target ResponsibilityDocument of Health, Safety, Environmental Protection, andFire Fighting with all employees. Responsible individuals areassessed based on the type, severity, and impact of incidents, withassessment results directly linked to performance evaluations.The Group actively conducts external environmental impactassessments and environmental management system certication.During the reporting period, 100% of our own factories obtained ISO14001 environmental management system certication. Environmental Management System We at Seres Group have formulated the Environmental EmergencyResponse Preparedness and Environmental Emergency RiskAssessment Report, which are continuously updated and filedto ensure a comprehensive emergency response capability. Wegrade sudden-onset environmental accidents into three levels: severe (Level-I), moderate (Level-II) and general (Level-III) withcorresponding response plans tailored to each level. Meanwhile,with continuous efforts made to improve environmental riskassessment mechanisms, we can engage in, more systematically,risk assessments, identification of risks that may cause suddenenvironmental pollution, and detailed risk prevention and emergencyresponses so as to minimize sudden-onset accidents at the source. Environmental Emergency Management ●Waste gas, wastewater and noise dischargemeet the standard 100% and solid waste legallydisposed of100% ●Environmental information application (filling),monitoring, and disclosure100% ●Environmental pollution incidents (accidents)occurred 2024 environmental managementobjectives have been achieved Environmental Management Objectives: In 2024, the Group organized environmental emergency drills with a total of participants Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Emergency Management Detection and Identication of Potential Hazards Roles of Environmental Emergency Response Team The Response Team was built in each production unit, whois responsible for organizing environmental risk assessmentsand emergency response actions, comprehensivelyidentifying potential environmental hazards and the levelthereof, and determining environmental risk prevention andcontrol measures. Well-designed actions were taken to detect and identifypotential environmental hazards. A leading director in eachproduction unit was selected to engage in its own hazarddetection and identication. Case： Phoenix Intelligent Factory Conducts Sudden Environmental Incident Emergency Drill On November 1, 2024，Seres Automobile’s Phoenix Intelligent Factory, together with Shapingba District Government, Shapingba DistrictEcology and Environment Bureau, High-Tech Zone Management Committee, Phoenix Town Government, Qingfeng Scientic InnovationCity Enterprise Center and other units jointly conducted the “Sudden Environmental Incident Emergency Drill”. This drill covered incidentreporting, on-site alert, personnel evacuation, pollution control, environmental monitoring, and restoration, all of which were closely linkedto reinforce a solid defense for safeguarding regional environmental safety. The Group offers a wide range of training related to energy conservation and carbon emission reduction for environmental promotion andeducation, which aims to cultivate employees’ awareness of environmental protection. In 2024, we organized more than 60 training sessions onenvironmental protection with more than 5,000 participants.Training on Environmental Protection Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities We strictly observe the Energy Conservation Law ofthe People's Republic of China and other laws andregulations. We have established energy managementpolicies such as the Energy Management Measuresand the Factory Whitelist for Electricity ManagementSystem. Through our energy management platform,we continuously refine and enhance the Company’senergy management practices. We actively promote energy-saving renovation projects in our factories toeffectively reduce energy consumption. These initiatives include modifyingproduction lines, upgrading facilities and equipment, and optimizing lightingsystems. We actively promote the use of clean energy by implementingphotovoltaic power generation projects across multiple factories,supporting the Company’s low-carbon transformation. As of theend of the reporting period, had invested RMB 588 million inphotovoltaic projects, achieving a total installed capacity of 102 MW.The cumulative power generation reached 74.83 million kWh, with 20.05 million kWh was consumed by purchasing contracted green electricity and green certificates. For the whole year, the Group'suse of produced green electricity by the Group could save 11,660.75tons of standard coal and reduce 78,940 tons of CO emissions. Energy managementEnergy-Saving RetrotClean Energy Use Energy consumption goal: An annual target ofdecrease in energy consumption per vehicle year-on-year by 4% In 2024, the Company’s energy consumptiondecreased by 45% compared to 2023 2024 Energy-Saving Retrot Programs and E?ectiveness Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report ●The energy-saving retrofit project for process cooling water in thecoating workshop can reduce 1,367.8 tons of CO per year. ●The air compressor cooling water retrot project can reduce 292 tonsof CO per year. ●The factory equipment deep shutdown energy-saving project canreduce 825 tons of CO per year. ●The factory compressed air pipeline valve replacement with electriccontrol ball valve retrot project can reduce 203 tons of CO per year. ●The streetlight energy-saving retrot project can reduce 112 tons ofCO per year. ●In the drying room in the coating workshop, the burner retrot projectcan reduce 312 tons of CO per year. ●The factory lighting and non-production period optimization projectcan reduce 129 tons of CO per year. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities We strictly comply with relevant laws and regulations including theWater Law of the People’s Republic of China, actively promoting therational utilization of water resources. To improve water e?ciency,we implement initiatives such as reclaimed water reuse and factoryrenovation projects. Water Resource Management 2024 Water Conservation Projects and Achievements Case： Super Factory Coating Wastewater TreatmentSome coating wastewater of the Super Factory treated bythe wastewater treatment station to meet the standard isreused for greening and toilet flushing. The water qualitymet the key standard limits of the Reuse of Urban RecyclingWater-Water Quality Standard for Urban Miscellaneous Use(GB/T18920-2022) and the reuse rate reached 27%. Super Factory coating wastewater treatment In 2024，Hubei Seres Factory recycled9,035 tons of reclaimed water, which wasused for toilet ushing and greening, e?ectively reducingtap water consumption.In 2024, Chongqing Xiaokang Power conducted agreen production level assessment and carried outmodications based on the results, investing RMB 5.505 millionsaving water resources 18,130 tonsYear-round water savings from water reuse127,440 tons Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities The Company strictly abides by national environmental protectionlaws and regulations, continuously optimizing production processes,introducing advanced facilities and equipment, and strengtheningthe monitoring and management of the “three wastes”. Thesee?orts ensure emissions are 100% compliant while minimizing theenvironmental impact.The Group strictly adheres to the Atmospheric Pollution Preventionand Control Law of the People's Republic of China and other lawsand regulations, as well as exhaust discharge standards, and weformulate and implement internal management systems and workprocesses such as the Exhaust Pollution Prevention and ControlManagement System and the Exhaust Pollution Control Proceduresto ensure that exhaust pollutants are discharged as per standards.On a regular basis, the Group entrusts the qualified third-partytesting facility to monitor real-time exhaust discharge and requireall departments seal containers that are associated with toxic andharmful gases or dust pollution, or take other protective measuresduring storage, transportation, and loading and uploading, so as toprevent discharge of harmful gases or dusts. Discharge Management Exhaust Discharge Management During the reporting period, 100% of the Company’s self-monitoring and online monitoring of exhaustgases met the standards. Exhaust Discharge Management Measures UpgradeExhaustTreatmentEquipment ●Prioritize low-pollution raw and auxiliary materials, developing environmentally friendly materials as raw materialsincluding water-based impedance glue and paint to reduce the discharge of volatile organic pollutants. ●Use advanced thin-lm process, enabling “zero” heavy metal emissions. ● Use latest-generation robots, which provide fully automated glue coating and paint spraying by precisely controllingthe spray ow, rotation speed, and volume of air vented in molding and making the paint optimally atomized during thespraying process, thus reducing the concentration of exhaust gas emitted. ●Purication e?ciency reaches 95% with the Durr dry separation system. ●A wet-type Venturi scrubber spray booth is used to remove paint mist, with 98% exhaust gases removed. ●“Zeolite concentrator (KPR) and regenerative thermal oxidizer (RTO)” are used, respectively reaching the exhausttreatment e?ciency of 90% and up to 98%. ●With “regenerative thermal oxidizer (RTO) and thermal-recovery thermal incineration system (TNV)” used, the exhaustgas removal rate is up to 99%. ●1GR engine makes exhaust gases recycled, emitting less hazardous gases including carbon monoxide and carbondioxide compared to traditional fuel vehicles, and actual particulate matter emissions are under control. ●Apply FANUC paint robot to 100% removal e?ciency of organic exhaust in the coating process. Case： E?ciency Enhancement of Jinkang Power’s Organic Waste Gas Treatment FacilityIn April 2024, Jinkang Power proactively upgraded its organic waste gas treatment facilities, replacing the original single activatedcarbon adsorption device with a composite purification process, including dry filtration + activated carbon adsorption + high-temperature desorption + regenerative catalytic oxidation (RCO). In addition, an online monitoring system was installed, includingreal-time feedback on indicators, such as TVOC and non-methane hydrocarbons. After third-party testing, the comprehensivewaste gas treatment e?ciency remains stable at more than 85%. This project has successfully obtained a Grade B certication forthe coating industry. Optimize theProcess ofRaw Material Selection OptimizeExhaustTreatment Process Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities The Company strictly abides by standards and requirements of laws and regulations such as the WaterPollution Prevention and Control Law of the People's Republic of China. We have formulated managementsystems such as the Management Measures for Wastewater Discharge, the Management System forWastewater Pollution Prevention and Control, and the Procedures for Wastewater Pollution Control.Through the whole process monitoring, we ensure the compliant wastewater discharge, thereby reducing theenvironmental impacts. Wastewater Discharge Management Wastewater Discharge Management MechanismEach unit generating waste shall strictly control the total amount ofits wastewater generated.The relevant department should strengthen the supervision andmanagement of the Company’s rainwater, wastewater outlets andwastewater treatment stations, establishing operating records andlling them.We should monitor and inspect online monitoring equipment andestablish relevant records.We should compare water quality at wastewater outlets in a timelymanner and handle abnormalities immediately once they are found.We should commission qualied units to monitor wastewater pollutionfactors according to the plan.We should disclose pollutant emission information through theEnvironmental Protection Bureau’s information disclosure website.The generated wastewater can be discharged only after treated tomeet the discharge standards required to be implemented locally, andbe sorted and discharged to the wastewater treatment department forcentralized treatment in accordance with relevant regulations. Case： Xiaokang PowerImplements WastewaterReduction MeasuresIn early March 2024, Xia-okang Power adopted amachining impregnation pro-cess, which significantly re-duced wastewater discharge.This initiative resulted in anannual wastewater dischargereduction of approximately42,000 cubic meters, savingabout RMB 170,000 in costs. The Company strictly complies with the Law of the People’s Republic of China on Prevention and Control ofEnvironmental Pollution by Solid Waste, the Standards for Pollution Control on Hazardous Waste Storage, and otherrelevant laws and regulations. We have established internal management policies, including the Measures for theGeneral Industrial Solid Waste Management, the Measures for the Hazardous Waste Management and the ManagementSystem for the Prevention and Control of Solid Waste Pollution to ensure the classied control and proper managementof solid waste. We have achieved a 100% recycling and disposal rate for solid waste generated during production andmanufacturing, reducing the consumption of environmental resources. Solid Waste Management Solid Waste Management Measures ●Cover waste cardboard, waste wood, waste plastic, waste packaging bags, stamping leftover, metal slag inwelding, etc. ●Develop records for general industrial solid waste management, in which types, amounts, ows of industrial solidwaste are captured truly with the information traceable. ●Carry the general industrial solid waste to the warehouse and storage depots and commission to a qualied third-party unit for disposal through a written legal disposal contract in which requirements for pollution prevention andmanagement are specied. General Industrial Solid Waste Hazardous Waste ●Mainly include paint slug, phosphating residues, waste mineral oil, paint bucket, used cleaning cloth and gloves, etc. ●In accordance with the Standard for Pollution Control on Hazardous Waste Storage, set up hazardous wastestorage rooms, waste gas collection collectors and purication facilities to ensure that emission standards are met. ●Realize one-object-one-code management through digital empowerment for precise process control in the wholeprocess covering sorting and weighing, printing weight label, scanning code before warehousing, scanning codebefore ex-warehouse, etc. ●Formulate entry and exit record forms and warehouse inspection forms to record and conrm the weight and size,transfer process, packaging, sealing and storage of hazardous waste to ensure the precise hazardous wastemanagement. Source Treatment Supervision and Detection Discharge Treatment Mechanism Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Hazardous Waste Management Measures Recycling of Hazardous Waste Identication of Hazardous Waste ●The waste activated carbon of hazardous waste replaced by “activated carbon adsorption andcatalytic combustion” of exhaust treatment devices has been verified useful as carburants forcast iron smelting, reducing hazardous waste by 4.5 tons in total throughout the year. ●A large number of oil iron fillings are generated during the cylinder machining, which can beused as raw materials for cast iron after verication. In 2024，the total amount of recycled oilyiron chips was 1,266.43 tons, of which 619.33 tons were utilized internally, and 647.1 tons wereprocessed externally. ●Hazardous waste packaging drums are directly recycled by the supplier and secondarily reused,reducing 32 tons of hazardous waste throughout the year. ● Paint-containing lime is identified as general industrial solid waste, without hazardouscharacteristics, which does not belong to the waste in the National List of Hazardous Wastes (2021Edition) and does not have the hazardous characteristics specied in GB 5085. In 2024, 341.63tons of hazardous waste treated can be reduced. Process Optimization ●The process of classifying and optimizing waste rubber is adopted in the production to reduce thewaste rubber, further making less hazardous waste generated. ●Sludge and phosphating residues are dehydrated mechanically. Sludge is further dehydratedby sludge dryer to keep 30% or less moisture content, which e?ectively reduces the weight ofhazardous waste. Case： Hazardous WasteManagement Upgradingat The Shiyan Factory ofSeres Automobile (Hubei) In 2024, the Shiyan Factory ofSeres Automobile (Hubei) activelyresponded to the relevant require-ments of the Technical Specifica-tion for the Application and Issu-ance of Pollutant Discharge Permitand Industrial Solid Waste by in-troducing an intelligent hazardouswaste weighing facility to rene theprecise hazardous waste manage-ment. This system has signicantlyimproved the e?ciency of hazard-ous waste transfer and storageand optimized the Factory’s wastemanagement processes, providinga strong support for environmentalprotection efforts. This initiativenot only aligns with industry regu-lations but also demonstrates theFactory’s proactive approach andinnovative practices in environ-mental management. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities The Company strictly control noise pollution in production and operation in accordance with the Law of the People's Republic of China onPrevention and Control of Pollution from Environmental Noise. To mitigate noise propagation, we implement measures such as localizedsoundproof panels, soundproof machine rooms, silencers, soundproof doors and windows, and sound-absorbing materials. In 2024, noiseemissions from the Company’s factories remained within the permissible range specied in the pollutant discharge permit. Noise Management Noise Management Measures 2024 Green Production Awards Install Sound-proof Equipment Investment in Additional Sound-proof Panel Rooms Use Low-noise Equipment Instead of High-noise Ones Conduct Regular Noise Detection ●Stamping workshop and coating workshop: shock absorbersare installed on the equipment foundation in the stampingworkshop and coating workshop of Seres Automobile, andthe equipment with low noise and small vibration is selected.Soft lining boards are added on the workbench, work bins,and slide rails and enclosed soundproof measures are takenon the whole line. Air suction ports of the compressor isequipped with mu?es and air storage cylinder is coated withsound damping materials. ●Cylinder core-making post equipment of Xiaokang Power: mu?es are added at the tail of the exhaust to ensure that thenoise in the operating area meets the standard. ● After comprehensive evaluation, Jinkang Power invested inthe additional soundproof panel rooms in the bench test areato enclose and isolate all operating machines in the area. Theoperators operate the machine remotely outside the rooms toreduce the noise impact on the site and people around. ●Xiaokang Power plans to replace 16 high noise pneumaticgun tools in the assembly workshop with low noise hydraulicimpact drivers. ●Xiaokang Auto Parts plans to replace the original high noiseequipment with a stronger well-operated crusher with lownoise. ●Painting workshop of Phoenix Intelligent Factory has replacedthe original soot blower with noise reduction soot blower toimprove the management from the source of the noise, withthe noise decreasing from 88.9 decibels to 64 decibels. Seres Automotive (Hubei) Co., Ltd.Hubei Green Factory and National Green Factory Luzhou Rongda IntelligentTransmission Co., Ltd. was awardedthe Sichuan Green Factory Chongqing Jinkang Power RenewableEnergy Co., Ltd. was awardedthe Chongqing Green Factory The Zero Carbon Logistics Port Project of Seres Automobile Co., Ltd. was honored as the annualGreen Low-carbon Typical Case of Chongqing in the year of 2024 Seres Automotive Ltd. was awarded the title of“Waste-free Factory” by the Ecological EnvironmentBureau of Chongqing Jiangbei District and ChongqingJiangbei Economic and Information Committee Seres Automobile (Liangjiang Smart Factory) won the third prize of“Environmental Emergency Response Drill and DisposalTeam Competition” of Chongqing Liangjiang New District ●The Group’s factories regularly carry out noise detectionevery year with results meeting the Class 3 requirementsin the Emission Standard for industrial Enterprises Noise atBoundary (GB12348-2008). Since its founding, the Group hasnot received complaints from relevant parties. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Green Logistics Green Package Green Packaging Measures We actively promote low-carbon logistics, aiming to establish anindustry-leading green logistics model through comprehensivemanagement of green packaging, green warehousing, and greentransportation. As of the end of the reporting period, the Company achieved a 100% procurement ratio of recyclable packaging materials for per-vehiclemanufacturing. We continue to strive for 100% usage of non-toxic, harmless, and recyclable packaging materials. We continue to reduce the environmental impact of packaging bypromoting greener and lighter packaging solutions. In 2024，the Company’s recycling rate of packagingmaterials per-vehicle reached99% hitting the target. The recycling rate of packaging materials reaches90% Green Packaging Targets: Target Achievement： Lightweight Packaging ●Use no bubble bags for cabin decorative plates, which can reduce 100,000 PE packaging bags per year. ● In 2024, the Company’s single-vehicle packaging volume was 140m Supplier Cooperation ●Release the 2024 Supplier Incoming Packaging Specications, clarifying the design requirements for packaging materials andsize, etc. and requiring lightweight design of supplier packaging. ●In 2024, The Seres Super Factory promoted over 60 suppliers to make packaging improvements, reducing the use of about80,000 cardboard boxes and about 100,000 wooden pallets during the reporting period. Recycled Packaging ● Replace PE bubble bags with recyclable hollow board cards, which can reduce 100,000 PE packaging bags per year. ● Replace original internally-packaged carton boxes with recyclable material racks, which can reduce 2,000 kg packaging paper peryear and improve e?ciency and utility of packaging. ●Replace bubble-bag plastic boxed with recyclable EVA package, which can improve e?ciency and utility of packaging. ●Eliminated the use of disposable bubble bag liners for plastic boxes and switch to recycled liners in 2024, reducing the use ofbubble bags with lowering more than 100 tons of carbon emissions. ●Achieve packaging materials recycling of more than 90% of parts. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesGreen Warehousing Green Transportation We actively promote green warehousing by reducing carbon emissions throughthe integration of clean energy and electrified operations. Rooftop photovoltaicsystems have been installed across all logistics warehouses at our factory sites,reaching a total installed capacity of 28.52 MW by the end of the reporting period.At the same time, prioritize using warehouse resources with green storagecertication and employ renewable energy-powered loading and transport vehiclesto minimize the environmental impact of warehousing activities.The Liangjiang Smart Factory has installed a 7.22 MW photovoltaic project in itsshipping yard and logistics warehouse. During the reporting period, renewableenergy accounted for 23.9% of energy consumption for warehousing and shipping. The Company continues to optimize internal and external transportationprocesses, implementing various initiatives to advance the development of a low-carbon transportation system. Through measures such as VMI warehouses +circular pickup + smart logistics hubs, we have improved logistics e?ciency. Asa result, truck loading rates have increased to 70%, while the number of trucksrequired has been reduced by 20%, leading to a substantial decrease in carbonemissions during transportation. Green Transportation Measures Inside TransportationOutside Transportation ●100% electried deployment of forkliftsand tractors used for loading, uploading,and transportation inside the factory hasbeen realized. ●Automated transport equipment is set toenergy-saving mode, reducing energyconsumption during non-operationalperiods. ●We conduct logistics analysis on the cargo volumes of suppliers, optimizingpick-up routes and carrying out circular item pick-up. ●We analyze contracts and estimated sales by an intelligent dispatchingsystem, optimizing the transportation network. This can improve loadinge?ciency, reduce empty runs and unnecessary transport distances. ●We integrate multiple means of transportation, including shipping and railway,selecting the most suitable method and routes based on the reality.During the reporting period, renewable energy accounted for 23.9% of energy consumption for warehousing and shipping. VMI: Vendor Managed Inventory, a supply chain management model. Vendors directly monitorand replenish inventory to optimize inventory levels. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesGreen O?ce The Group implements national and provincial-level policies suchas the Implementation Plan for Green and Low Carbon LeadingAction of Public Institutions to Promote Carbon Peak and theImplementation Plan for Green and Low Carbon Leading Actionof Public Institutions to Promote Carbon Peak in ChongqingMunicipality. We strictly adhere to internal regulations such as theO?ce Building Management Regulations and the Business VehicleManagement Regulations, upholding a low-carbon and greenbusiness philosophy while promoting green o?ce practices. Throughinitiatives such as energy and water conservation, paperless o?cepractices, and regulated electricity management, we effectivelyreduce energy consumption in daily operations, supportingsustainable and eco-friendly business practices. We also encourageemployees to adopt low-carbon travel. In 2024, green flightscontributed to a total reduction of 811.29 tons of carbon dioxideemissions from business travel. The Company prioritizes low-carbon operations by implementing rened energy management to reduce carbon emissions. Our stores widelyadopt high-e?ciency LED lighting and energy-saving equipment, while an energy management system optimizes the operation of key devices,such as lighting and air conditioning, ensuring e?cient performance and minimizing carbon emissions. At the same time, we promote the useof green electricity in selected stores. For example, Dongguan Huajie Zhixing introduced an integrated solar storage and charging solution,generating 670,000 kWh of green electricity annually, with 260,000 kWh stored for peak shaving. This approach not only meets energy-savingand carbon reduction goals but also ensures a stable electricity supply during peak demand, optimizing power costs. Green O?ce Management MeasuresAdvocate Paperless O?ce Renewable Energy of Business Vehicles Standardize Electricity Management ●We promote paperless office and advocate double-sidedprinting and reuse the printed paper when necessary, callingon all employees to participate in saving paper sheets. ●We promote online paperless training and examinations andencourage employees to save paper sheets. ●We reduce the use of fuel-powered vehicles. During thereporting period, there are a total of 180 business vehiclesin the Company, including 113 renewable energy onesaccounting for 62.8%, an 10.65% increase compared to2023. ●When the indoor temperature reaches 28°C or above, theair conditioning can be turned on, with the temperature setno lower than 26°C; When the indoor temperature drops to10°C or below, the air conditioning can be turned on, with thetemperature set no higher than 20°C. ●We should make full use of natural light and turn offunnecessary lighting facilities while retaining basic lightingin daily o?ce work to ensure “The electricity shall be cut o?when it is not necessary or needed”. ●The standby time of o?ce devices, including computers andprinters, shall be shortened, and turned o? when not be usedor after work; Check whether electronic equipment, electricappliances, lighting, doors and windows shall be turned o?so as to reduce energy consumption due to the standbymode. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Key performance indicatorsUnit2024Total exhaust discharge cubic meters 16,620,054,240.17Sulfur oxides（SO X）ton8.92Nitrogen oxides（NOX）ton39.39VOCton106.29Particulate matter ton50.74Total amount of wastewater dischargeton1,229,479.41Ammonia nitrogenton1.89Total phosphorus ton0.37BODton13.44CODton74.74Total amount of non-hazardous wasteton51,228.76Non-hazardous waste discharge density ton/ revenue of RMB10,000 0.0035 Total amount of hazardous waste ton8,548.34 ESG key performance Key performance indicatorsUnit2024 Hazardous waste discharge density ton/ revenue ofRMB10,000 0.0006 Gasoline ton4,324.23Diesel oil ton34.34Natural gas cubic meters24,239,446.00Purchased electricity kilowatt hours337,701,534.00Comprehensive energy consumption tce (ton of standard coalequivalent) 80,154.69Comprehensive energy consumptiondensity tce/ revenue of RMB10,000 0.0055 Total water consumption ton1,163,904.00Total water consumption Density ton/ revenue ofRMB10,000 0.08 Municipal water supply ton1,154,869.00Reclaimed water recovery ton127,440Refrigerant ton2.23Recycling rate of recycled packaging per-vehicle percentage99 In 2024, due to a signicant increase in output value, emissions gures increased signicantly compared to previousyears. Hazardous waste is dened according to the National Catalogue of Hazardous Wastes (2021 Edition) issued by theMinistry of Ecology and Environment of the People’s Republic of China. The comprehensive energy consumption is calculated based on the General Rules for Calculation of ComprehensiveEnergy Consumption (GB/T 2589-2020). Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Diversity & Inclusion,Talent CareThe Company respects the employees’ diversity and protects their rights and welfare, establishing a sound trainingsystem and promotion channels. With a focus on humanistic care and occupational health, we are committed tocreating an equal, diversied and healthy work environment. Awarded “2024 China Best Employer of the Year” and “The Most Innovative Employer” by Zhaopin.comImplemented an employee stock ownership plan with participantsConducted employee training sessions with a total of244, 943 participantsConducted1,035 safe production inspections identifying and addressing30,786 potential hazards and 431,031 training hours a lock-in period of years an incentive unlocking ratio of 50% per phase 2024 Highlights Performance SDGs Responses Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesEmployee Rights and WelfareWe are committed to creating a fair, inclusive, and diverse workplace. Our approach emphasizes fair compensation and performance management, ensuring that every employee has equal opportunities, respect, andrecognition for their contributions. We also prioritize benets, open communication, and support for employees’ personal growth, health, and family needs.Equal and Diversied EmploymentThe Company strictly abides by relevant regulations and laws, including the Labor Law of the People’s Republic of China, the Labor ContractLaw of the People’s Republic of China as well as relevant requirements of the core conventions of the International Labor Organization. We haveformulated internal policies such as the Recruitment Management System, Compiled Human Resources System Management, and EmployeeManual. Discrimination of any kind—regardless of gender, age, ethnicity, nationality, religion, or other personal factors—is not tolerated.We ensure that job descriptions are free from biased language related to gender, height, ethnicity, or religion, creating a fair, compliant andtransparent hiring process for all candidates.In our recruitment practices, we strictly adhere to the Convention on the Rights of the Child, the Forced Labor Convention, and the Labor Law ofthe People’s Republic of China when recruiting. We do not employ individuals under 16, whether as direct employees or through third-party labordispatch. We also have a zero-tolerance policy for forced labor. During the reporting period, the Group had no cases of child or forced labor. Asof 2024, the Group employed 18,838 individuals under labor contracts, including 886 employees from ethnic minority groups and 217 foreignemployees.At the same time, we actively promote gender equality in the workplace, working to improve representation at all levels. In 2024, 15.19% of ourmanagement positions were held by women. As of 2024, the Group employed 18,838 individuals under labor contractsIn 2024, 15.19% of our management positions were held by women Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities We actively seek to build a team with diverse backgrounds, skills, and experiences, recognizing that a variety of perspectives drives innovationand long-term growth. To support this, we implement targeted recruitment initiatives designed to attract talent from different fields. In 2024,we introduced programs like the “Talent Reserve Project” and “Talent Flow Project” to bring in a broad range of professionals. Additionally, welaunched the “Rear Wave Program” and “Talent Living Water Program” to further expand our talent pool. In 2024, we welcomed 3,747 newemployees. We actively conduct campus recruitment to attract emerging talents and inject new vitality into our development.In 2024, through campus recruitment, we received more than 100,000 resumes from outstanding studentsworldwide. This campus recruitment covers leading universities across the country, successfully signingtop talent from Tsinghua University, Peking University, the C9 League and prestigious 985 universities. Theproportion of master’s and PhD graduates among the signed candidates has increased signicantly. Recruitment Plan We launch the “Talent Reserve” in September every year to select talents for middle-level reserve leadersserving the Group. We select and recruit excellent internal employees who have applied for the project througha comprehensive evaluation composed of written exams and interviews, and successfully selected employeeswill participate in a one-year training project. We actively promote talent flow inside the Group and prioritize internal members for vacant positions.Employees can release internal recruitment information through the work platform and choose to applyindependently according to their personal willingness. CampusRecruitment Talent Reserve Talent Flow Recruitment Type 2024 Employee Recruitment Plan Case： “Automobile Culture Festival” HelpsCampus Recruitment “Automobile Culture Festival” Helps Campus Recruitment On September 20, 2024, the Company, together withXi'an Jiaotong University, held the “Automotive CultureFestival” at the Innovation Harbor Campus. Thefestival combined online and o?ine activities, featuringautomobile experience, trunk markets, traditional teabrewing, and interactive games, attracting a largenumber of graduate students. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Chinese mainland Overseas In 2024, the Company was awarded as a “Strategic Partner” bythe Organizing Committee O?ce of Chongqing International TalentExchange Conference and became the “Graduate EmploymentBase” of Chongqing University of Posts and Telecommunications.Additionally, we received several industry accolades, including “2024Extraordinary Employer of the Year” from Liepin, as well as “ChinaBest Employer of the Year” and “Most Innovative Employer” fromZhaopin.com. These honors highlight our commitment to attractingtop talent. Employer-related Awards 2024 Sta? Employment 4,215 Aged 30-39 Production sta?Technical R&D sta? General andadministrativeservices sta? Female employees 14,623 7,899 2,1231,699 3,711 4,215 7,117 6,021 9,106 18,618 Number of employees by ageNumber of employees by gender Number of employees by regionNumber of employees by type Male employees Sales andmarketing sta? Aged 40 and overAged 29 and below Chinese Hong Kong, Macao, and Taiwan Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesTo strengthen our talent management strategy andprovide ongoing support, we conduct quarterly check-insand interviews with newly promoted employees, recenthires, and key personnel showing signs of concern. Thisproactive approach helps us track employee status in real-time, and effectively reduce turnover. In 2024, our totalturnover rate was 11.39%. In 2024, our total turnover rate was 11.39% 4,715 3,0903,823 3,7478,461 1,839 Number of employees by educationNumber of newly recruited employees Total number ofemployees with a highschool degree and below Total number ofemployees with a master’sdegree and above Total number ofemployees with abachelor’s degreeTotal number ofemployees with acollege degree Total number of newlyrecruited employeesfrom overseas Total number of newly recruited employees through campus recruitment Total number of newly recruited employeesTotal number ofnewly recruitedemployees throughsocial recruitment Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesRemuneration and BenetsThe Company is committed to providing employees with competitivesalaries and a structured compensation system that ensures fairness andtransparency. Our Remuneration Management System outlines salarycomponents, including base pay, role-based compensation, performanceincentives, and allowances, safeguarding employee rights. To reinforce thelink between performance and pay, we integrate monthly, quarterly, andannual performance-based rewards into total compensation. The proportion ofvariable pay di?ers by job level, with senior and mid-level managers receivinga higher share than general employees. Furthermore, we use an annualcumulative performance mechanism. This allows employees to o?set unmetshort-term targets by accumulating previous performance achievements,strengthening the impact of performance-based incentives and encouragingconsistent improvement.In 2024, we introduced a long-term incentive plan through an employeestock ownership program for 252 key employees across R&D, procurement,manufacturing, sales, and functional departments. The plan includes a two-year lock-in period, with 50% of shares unlocking in each phase. Incentivetargets are tied to both company-wide business performance and individualcontributions, maximizing employee engagement and potential.We actively build a non-salary benet system for all full-time employees whileoffering special support for disadvantaged employees, retirees, employeesstationed abroad, and frontline production workers. We have partnered withover 20 organizations in education, healthcare, retail, and telecommunicationsto offer exclusive benefits tailored to employees’ daily needs. In 2024, ourGolden Autumn Education Assistance Program provided over RMB 1 millionin scholarships to support more than 1,000 employees’ children. We alsodistributed RMB 3.95 million in holiday benets and RMB 669,600 in birthdaygift packages. InsuranceCoverage HealthInsuranceLogisticServices MaternityCare DailyCare Non-salary BenetSystem for Employees ● Social insurances composed of pension,medical insurance, unemployment insurance,work injury insurance, maternity insurancewith the coverage of all formal employees. ●Provide free supplementary medical insurancefor employees and their children, coveringmajor illness, accidental injury, etc. ●Housing fund ●Annual physical examination ●Lectures on health ●Services and support forpsychological health ●Free working and overtime meals ●Free accommodation andtransportation ●Communications subsidies ●Discount for internal employeesbuying the car ●Holiday gifts ●Maternity leave, prenatal check-up leave, paternity leave ●Internal mother-and-baby room ●Holiday activities ●Birthday gifts ●Themed team-building activities ● Sports games ● Fellowship for youngemployees ●Scholarship ●Provide caring childcareclasses for employees’children during winterand summer holidays. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Retiredemployees Impoverishedemployees Femaleemployees Overseasemployees andemployeesstationedaboard Democratic CommunicationWe actively protect employees’ right to freedom of association andformally included relevant guidelines in the Onboarding Guide in2024. Employees are encouraged to participate in labor unionsto safeguard their legal rights and democratic interests. As of thisreporting period, 100% of employees under labor union agreementshave signed collective agreementsTo ensure employees’ voices are heard, we have establishedmultiple communication channels, including the “Complaints andSuggestions” platform, “Party Building and Logistics EmployeeForum,” as well as complaint emails, a dedicated phone line,and employee symposiums. These platforms provide employeeswith direct ways to share concerns and ideas. For performanceevaluations, we o?er a formal appeal process where employees cansubmit feedback via email. Appeals are reviewed, and employeesreceive a response within three working days. If any unfair incidentsare identified, we take corrective action promptly. In 2024, weachieved a 100% resolution rate for employee complaints.During the reporting period, we conducted one semi-annual andone annual employee satisfaction survey, covering 15,082 and15,423 employees, respectively. These surveys focused on workenvironment, dining, accommodation, and transportation. In 2024,the semi-annual satisfaction rate was 79.8%, while the annual ratewas 78.2%. We are committed to using this feedback to continuouslyimprove employee satisfaction and overall well-being. In 2024, the coverage rate of employees signing thecollective agreement of the labor union reached 100% ●In every Spring Festival, we visit and care for retired employees serving the Group for 10 years and longer,presenting gift packages as our gratitude for their contributions to corporate development. ●We have established a dedicated fund for impoverished employees. In 2024, a total of 14,874 employeeswere included in the fund, with 51 members supported with RMB 280,200. ●The establishment of the Women’s Federation Organization： In September 2024, the company establishedthe first Women’s Federation Organization among China’s top 500 private enterprises in Chongqing. AFederation Executive Committee was elected, and the “Three Links, Three Gatherings” work system wasformulated, providing a strong organizational guarantee for uniting and supporting female employees. ●Care activities： We organized over 20 activities, including beauty classes, Women’s Day healthconsultations, flower arrangement sessions, and handicraft workshops, focusing on caring for femaleemployees and helping them demonstrate their condence. ●Mommy room： To support working mothers, we set up a dedicated mommy room. Since its establishment,more than 300 female employees have been provided with a warm and supportive service. ● Special illness insurance: Since 2015, we have purchased special illness insurances for female employeesvoluntarily to be insured. By the end of December 2024, cumulatively, a total of 4,051 female employeesand female family members of male employees have been insured. ●We visit families of employees stationed abroad during traditional festivals such as the Dragon BoatFestival, Mid-Autumn Festival, and Spring Festival. ●We celebrate with foreign employees their national festivals or provide paid leave to them in the festivals. ●When the wife of employees stationed abroad is about to give birth, we organize female employees to taketurns taking care of her. ●We provide a green medical channel in a cooperative hospital for their family members falling ill. ●We assist with entry procedures for their child starting school. Special Caring Measures for Specic Groups Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Employee Training and DevelopmentAt Seres Group, we are committed to providing employees with diverse career development opportunities and pathways. Our goal is to continuously rene technical training programs, enhance employees’ skills, andunlock their full potential, aligning personal growth with the Company’s long-term strategic vision.Training and PromotionUpholding the vision of “building a world-class leading brand of new luxury automobiles”, we systematically develop a talent team “driven by mission and capability.” Our training system is tailored for employees in keypositions, ensuring that we cultivate top-tier talent to support the Company’s growth. We have launched a series of cadre development programs centered on the mission and responsibilities, including theManagement Trainee Program, New Cadre Transition Training, Mid-level Cadre Reserve Development Program, and SeniorCadre Development Program. Additionally, we strengthen leadership education on values and beliefs to further enhance cadres’sense of mission and responsibility. According to the job qualications of di?erent professional employees, we focus on thekey knowledge and skills required for each position. We have designed and conducteddozens of specialized talent training programs, including “Intelligent Driving SharingFamily” and “Financial Management”, enhancing the professional capabilities and overallquality of our engineer talent team. We provide cultural courses and training on position knowledge for all newemployees and arrange one-on-one mentors to help them integrate into theteam. A one-year growth training camp for newly recruited college studentswas provided in three phases: centralized training, post rotation, and postdetermination, helping these graduates adapt to corporate culture andbusinesses and complete role transformation.The Company’s Training System CadreDevelopment EngineerDevelopment New EmployeeDevelopment Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Rank CEO, CXO, SVP, VP, AVPGeneral Manager, Deputy General Manager, General Manager Assistant Minister, Deputy MinisterMinister AssistantAssistantEngineer Engineer Chief EngineerExpert Senior Expert Chief Experts/ScientistSpecialistSenior Specialist Business Manager Senior Business Manager Specialization Director Project Director Senior DirectorSpecialistJunior Worker IntermediateWorker SeniorWorker Technician SeniorWorkerJunior Worker IntermediateWorker SeniorWorker To identify and nurture exceptional employees, we use a multi-dimensional talent identication process that spans di?erent categories and levels. This approach allows us to quickly recognize and promote high-potentialindividuals through various assessment methods, including tool-based evaluation, hands-on assessment, development tracking, and platform-based monitoring. These methods ensure that employees’ skills are fullyrecognized and utilized, leading to merit-based promotions. Additionally, we have adopted a six-level and eighteen-rank position classication system, and established two promotion channels: “management track” and“professional track”. This approach helps employees clearly plan and understand their career development paths. Management Technical Professional Marketing Skills Support Management Track Professional Track Grassrootsemployees Experiencedtalents Backbonetalents Elites Operation level insubsidiaries Management level Six levels with eighteen ranks Employee Promotion ChannelsEmployee Promotion Path and Mechanism We conduct promotion certication every year,inviting business leaders, superior managers,the human resources department and expertjudges to form a professional panel. Thispanel evaluates and certifies employeesbased on job level and qualication standards,ensuring that the promotion results areauthoritative and e?ective. We regularly organize capability assessmentsevery year, and smooth promotion channelsfor reserve talents based on the nine-boxtalent gird results, further optimizing themanagement development. Promotion MechanismPromotion Path Professional Track Management Track 123456789101112131415161718 Clean Governance,Steady Development Innovation-Driven,Excellent Produces Employee TrainingWith a focus on talent cultivation, we have formulated internal systems, including the Internal Trainer and Course Management Measures toestablish a sound training management system covering training plan development, in-process implementation, e?ectiveness evaluation, archivemanagement, trainer management and course management.Employees can access a variety of online and o?ine courses covering management skills, professional expertise, and job-specic training fornew hires. These programs help employees discover their potential, rene their skills, and transfer organizational knowledge e?ectively. We arealso committed to digital learning, using AI-driven platforms to enhance training accessibility and integrate top-quality trainers and course content.This approach ensures that employees can continuously improve their professional skills. In 2024, a total of 244,943 employees participated intraining at Seres Group, achieving 100% training coverage with a cumulative 431,031 training hours. Employee Training System The program consists of three phases,including centralized training – an initialorientation to help graduates understand theCompany culture, values, and expectations,post rotation – a hands-on experienceacross di?erent roles to develop adaptabilityand practical skills and post determination –nal role placement based on performanceand interests. Through structured trainingand real-world applications, this programcontinuously develops high-quality youngtalent, supporting the Company’s long-termgrowth. To strengthen knowledge sharing andmentorship within the Company, werun the “Spark Program” annually. Thisthree-month blended learning initiativecombines online and offline training toequip internal trainers with essential skillsin course design, teaching techniques,and classroom management. At the endof the program, participants undergo atrainer certification evaluation, and 45qualified trainers are certified each year.This initiative injects new energy intotalent development, ensuring knowledgeand expertise are effectively passed onwithin the organization. With the mission of “growing with usersand creating value for users,” we select“intelligent driving sharers” to participatein the Intelligent Driving ExperienceProgram. These “Intelligent DrivingSharers” undergo a one-month specializedtraining covering product knowledge,hands-on operation, etiquette standards,and condentiality requirements. In 2024,we conducted two training sessions,certifying dozens of sharers. Theseparticipants actively engaged in intelligentdriving salon events, directly interactingwith users to provide deeper insights anda more connected experience. The growth training camp fornewly recruited college students Internal trainer development program“Intelligent driving sharers” training In 2024, a total of244,943 employees participated in training at Seres Group,achieving431,031 training hours Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Case： “Talent Flow Project” Leadership TrainingProgram Talent Flow Project Training To build a “mission-driven, capability-driven” talent team,we have launched the “Talent Flow Project” to identifyand develop middle management talent reserve withinthe group, continuously optimizing our implementationscheme and evaluation mechanisms. In 2024, the“Talent Flow Project” made innovations based on itsoriginal structure, establishing the “Passion and VitalityModel”, and adding a comprehensive assessment andspeech evaluation. This enhancement enables a multi-dimensional assessment of employees’ potential in areassuch as management personality, skills, and leadershipstyle. The selected employees will receive a one-yearsystematic training program covering managementskills, leadership development, and other areas.This comprehensive training aims to strengthen theCompany’s “core middle management talent pipeline”,promoting our continuous growth. We continue to support and encourage employees to advance their professional skills and strengthen their core competencies through externallearning and certication programs. As part of this e?ort, we have actively implemented our strategic partnership with Chongqing University,fostering talent development and technological innovation through deeper collaboration in research and skill-building. In 2024, we sponsored sixemployees to pursue Doctoral Degrees in Engineering at Chongqing University, further expanding their expertise. Additionally, we provided skillstraining for 786 frontline workers through the Employee Training Center, helping them earn Automotive Maintenance Technician Certications.To promote knowledge sharing and cost-effective talent development, we continue to offer internal training programs, cultivate a strong in-house trainer team, and support employees in obtaining professional qualications. These initiatives help enhance overall workforce capabilities,ensuring employees stay competitive in their elds. Total length of employees receiving training by genderTotal number of employees receiving training by gender Male employees 22.88 244,943 431,0314,21596,443.1 14,623334,587.8hours Total length of employee training per personFemale employees Male employees Female employees hours hours hours Total employee training participants Total length of employee training Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesOccupational Health and SafetyHealth and safety are at the core of our operations. We continuously enhance workplace safety and occupational health management systems, ensuring a secure, healthy, and comfortable environment for employees. Employee Occupational HealthWe strictly abide by the Law of the People’s Republic of China on the Prevention and Control of Occupational Diseases and other laws andregulations. We have formulated internal management systems such as the Occupational Health and Safety Management System and theOccupational Disease Prevention and Control Publicity, Education, and Training System and actively organized various health-related activities,enhancing our employees’ health awareness.To strengthen occupational disease prevention, we have implemented a series of measures to ensure employees are well-informed andprotected. Occupational health policies and annual hazard monitoring reports are prominently displayed on bulletin boards, providingtransparency about potential risks. Clear warning signs and instructions in Chinese are placed in high-risk areas, while employees working inenvironments exposed to noise, dust, toxic substances, and other hazards receive occupational hazard notication cards outlining specic risks.Alarm systems, rst-aid supplies, and emergency washing stations have been installed in areas with acute occupational hazards to improveresponse readiness. Employees in hazardous roles are also required to sign the Occupational Hazard Notication Agreement, which clearlydenes workplace risks and protection measures.In 2024, we continued our e?orts to prevent occupational diseases, ensuring that 11,719 employees underwent medical examinations and thecoverage rate of employees' physical examinations reaches 100%. Among them, 8,498 new hires completed pre-employment health checks, with 95.6% passing. 371 employees who were not suited for hazardous roles were reassigned to safer positions. 2,291 employees received routine health screenings during their employment, with a 99.6% pass rate, while 9 employees with occupational contraindications were successfullymoved to di?erent roles. Additionally, 930 employees completed exit medical examinations, with a 100% pass rate. all passing without issues. Nonew cases of occupational disease were reported during the year.Currently, 100% of the company's own factories have obtained the ISO 45001 Occupational Health and Safety Management System certication.During the reporting period, we employed 65 full-time safety personnel and invested RMB 29.215 million in occupational health initiatives. In 2024, we continued our e?orts to preventoccupational diseases, ensuring that all11,719 employees underwent medical examinationswith a100% coverage rate Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities At Seres Automotive, we continue to consolidate our achievements inestablishing “Healthy Enterprise” in Hubei Province. We use “HealthCabin” and “Emergency Rescue Center” to monitor and safeguardthe safety and health of all employees. Additionally, an employeecare hotline and mailbox have been set up, along with regularemployee democratic forums to promptly address their concerns andmental health problems, ensuring comprehensive safety and healthprotection. Health and Safety Platform Development In July 2024, we collaborated with Chenjiaqiao Hospital of ShapingbaDistrict to organize a Traditional Chinese Medicine Consultation Eventat Wuyun Lake office area. Through the combination of “lectures+ consultations + physiotherapy sessions”, this event can helpemployees improve their self-health management and healthcareawareness. In November 2024, we collaborated with DonghuaHospital, conducting an online and offline “StressBattle” mental health seminar, which aimed to helpemployees learn how to effectively manage theiremotions and promote both physical and mentalhealth. Shiyan Factory-Health Cabin Shiyan Factory -Emergency Rescue Center Case: “Labor Union’s Cool Relief and SummerHeat Protection for Health” Event “Labor Union’s Cool Relief and Summer Heat Protection for Health” Event During hot summer days, we actively launched the“Labor Union’s Cool Relief and Summer Heat Protectionfor Health” event to ensure the well-being of frontlineproduction employees. Based on the operational realityof the manufacturing industry, we arranged a seven-day high-temperature technical improvement leave foremployees. Additionally, cooling relief activities wereconducted on-site, covering 57,183 participants anddistributing heat prevention supplies with a total worthof RMB 955,643. Traditional Chinese Medicine Consultation EventMental Health Activity Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesSeres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities We actively conduct occupational health and safety trainingfor all employees, covering first-aid certification, safetymanagement training, and specialized re safety programsduring Fire Protection Month. In 2024, we conducted 3,351training sessions, reaching 305,968 participants with atotal of 494,415.2 training hours, averaging 33.49 hoursper employee. In addition, we organize ongoing safetyawareness initiatives throughout the year, including theLantern Festival Safety Park Event, Occupational HealthWeek, Safety Month activities, Fire Protection Month events,and quarterly safety quizzes with prizes. These effortsreinforce safety knowledge and help employees develop astronger awareness of workplace health and safety. Case： The Law on Occupational DiseasePrevention Awareness Week EventIn April 2024, we launched the Law onOccupational Disease Prevention and ControlAwareness Week Event, aiming to strengthen thepromotion and implementation of occupationaldisease prevention knowledge. Under thetheme of “prioritizing prevention to safeguardoccupational health”, this event emphasizedpromoting the Law on Occupational DiseasePrevention and Control and the National Plan forPrevention and Control of Occupational Diseases(2021-2025), thereby enhancing employees’occupational health awareness and rights. Safety GuaranteeAt Seres Group, safety remains a top priority. We strictly abide by relevant national laws and regulations while formulating and implementing internalsafety management systems to ensure the orderly advancement of safety e?orts.In strict compliance with the Work Safety Law of the People’s Republic of China and the Fire Protection Law of the People’s Republic of China and otherlaws and regulations, the group has formulated and implemented internal management systems such as the Project Safety Management Regulations,work safety Guarantee Management Measures and work safety Objective Management System, ensuring an orderly implementation of safe production.In 2024, we introduced the Environmental Occupational Health and Safety Management Manual and complied 19 procedural documents, includingManagement Procedures for Understanding the Organization and the Environment and Management Procedures for Identifying, Evaluating andUpdating Environmental Factors. At the same time, we also established 53 management systems, including the Management System for EquipmentMaintenance Locking and Tagging and work safety Responsibility System, further improving the occupational health and safety system.We have set up a multi-level safe production management system that clearly denes safety responsibilities at all levels. The Safety, Environmentand Health Management Committee (hereinafter referred to as “the Committee”) oversees all safety initiatives as the highest decision-making body inthis area. In 2024, the committee director signed the Target Responsibility Letter of Safety, Environmental Protection, Occupational Health, and FireProtection with the leaders of all subordinate units, achieving 100% signing coverage and reinforcing company-wide commitment to safety. Safety Management System Work Safety Management System TheCommitteeLeading Groups for Work SafetyAll Business Departments and Subsidiaries Composed of the Chairman, directors of production units and relevant functional departments;Responsible for comprehensively inspecting, supervising, arranging the work safety management ofthe Group and its subsidiaries.Composed of persons in charge of the relevant functional departments and each production unitof the Group and its subsidiaries; Responsible for reviewing the major work safety issues of theGroup and its subsidiaries and supervising the implementation of work safety by each unit. Specically responsible for the implementation of work safety required in the businessprocess; Conduct internal safe production management. Clean Governance,Steady Development Innovation-Driven,Excellent Produces We have formulated the Management Measures for Seres Group EHS Targets and Indicators Assessment to ensure that safety remains apriority at the executive level. By tying safety performance to senior management compensation, and adjusting bonuses based on annualassessments. By reinforcing accountability and proactive risk management, we drive continuous improvements in workplace safety. In 2024, weset and completed 10 quantitative safety management objectives. Safe Management Targets 2024 Key Production Safety Management Objectives and Results Target Indicators Completion in 2024Zero work-related death incidents with employeesMetZero work-related death incidents with related sta? in the Company MetZero government penalties or negative reports caused by safety incidents, environmental pollution events, or violations of relevant laws and regulations MetRate of injuries per 1,000 people≤2.5‰MetRate of severe injuries per 1,000 people ≤0.8‰MetAt least 95% rectication of general potential hazards, and 100% rectication of major potential hazards. MetInspection rate of special equipment and safely accessories, certication rate of special equipment operators,control rate of dangerous operation, and certication rate of special operation personnel all remain at 100%. Met Occupational health examination rate, and transfer rate due to occupational contraindications reach 100%. MetCompliance rate of “three simultaneities”, safety inspection execution rate, safety education and trainingrate, and the signing coverage of safety agreements by relevant parties reach 100%, and requirementimplementation rate of superior documents is 100%. Met Emergency plan registration rate, drill rate, 24-hour duty and information reporting rate reach 100%. Met Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Specialized InspectionsHidden dangers inspections with a focus on electrical safety,chemical safety, re safety and machinery safety. Seasonal Inspections Holiday Inspections Based on internal systems, including the Hazards Identication System and Work Safety Inspection and Hidden Danger Rectication System,we regularly assess risks, conduct safety inspections, and address potential hazards. In 2024, we carried out 1,035 inspections, identifying30,786 safety hazards across various areas. These inspections covered daily, weekly, and monthly reviews, as well as seasonal, holiday, andspecialized assessments, ensuring a thorough approach to workplace safety. Inspections of seasonal measures against heat, rain, ood, lightning and cold. Safety inspections before holidays such as Spring Festival,Labor Day, National Day and high-temperature holidays. Work Safety Inspection The Committee Organizes Safety Inspections Before the HolidaysConducting Independent Safety Inspections at Each Site Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities We conduct environmental, occupational, and safety assessmentsin line with regulations, continuously rening emergency responseplans to strengthen risk management. This ensures that preventivemeasures are in place and reduces the likelihood of safety incidents.In 2024, we conducted over 800 emergency drills, covering fireevacuation, electric shock response, and first aid training, alongwith specialized drills for heat stroke prevention and confinedspace rescue. A total of 46,000 employees participated, enhancingtheir ability to respond effectively in emergencies and reinforcingworkplace safety awareness. During the reporting period, Seres Group made signicant strides in occupational health and safety, earning multiple industry recognitions. In2024, Seres Automobile (Hubei) Co., Ltd, a subsidiary of Seres Group, came in third in the indoor re hydrant operation category at the municipalfire safety skills competition and won second place in the “Craftsman Cup” competition in the Economic Development District. In addition,Chongqing Xiaokang Power Co., Ltd. also received several awards, including “Chongqing Healthy Enterprise”, “Outstanding Contracting Unit”,“Advanced Group”, and “Excellent Enterprise in Safe Production”. Safety Emergency Drills Series of Emergency Drills Liangjiang Smart Factory EmergencyEvacuation Drill Phoenix Intelligent Factory High Fall First Aid Drill Xiaokang Parts Emergency Evacuation Drill Shuangfu Factory Emergency Drill of LimitedSpace Incidents Luzhou Rongda Fire Extinguishing Drill In 2024, we conducted over emergency drills,covering re evacuation, electric shockresponse, and rst aid training, alongwith specialized drills for heat strokeprevention and conned space rescueA total of46,000 participants Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities In 2024, we conducted over 5,000 training sessions covering skillsfor safety management skill enhancement, new employee training,reghting knowledge and emergency response training, with a totalof over 510,000 participants. Work Safety Training Indicators Unit2024 2023 2022 Number of work-related deaths /00/ Work-related death rate %00/Number of occupational injuries /314246 Work-related injury rate %0.160.260.27Number of work-related injuries /56//Lost time injury frequency rate per million hours worked /0.591.301.37 In 2024, we conducted over 5,000 training sessions covering skillswith a total of over510,000 participants Safety Management TrainingSafety Knowledge Training Fireghting Knowledge Training First Aid TrainingNew Employee Training Key Safety Performance Indicators (2022-2024) Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities Responsible Supply Chain,Thriving CommunitiesAt Seres Group, we are committed to building an efficient, responsible, andsustainable supply chain. We continuously optimize our management practices andwork closely with suppliers to foster mutual growth. Beyond business, we activelycontribute to rural revitalization and public charity, supporting broader social andeconomic development while creating sustainable prosperity for the community.100% of suppliers havesigned the Supplier IntegrityCommitment and all suppliers have been certied bytheIATF 16949 systemWe conducted product audits, process auditsand quality audits on 84 suppliers, audits on the high-risk supplier systemTotal investment in rural revitalizationreached RMB 4.4916 million volunteer activitieswere organizedThe total duration of volunteer service reached5,600 hours with a total of 1,400 volunteer participants including RMB 4.1288 million inagricultural product procurement regular on-site inspections for risky suppliers 2024 Highlights Performance SDGs Responses Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities We have established a comprehensive suppliermanagement system, ensuring that quality, safety,and risk management remain a priority throughoutthe supplier lifecycle. To promote sustainable growth,we actively develop green supply chain initiativesand provide training and exchange opportunities forsuppliers. We have formulated the Supplier Code of Conduct ,which applies to all suppliers and sets clearexpectations in areas such as labor practices,health and safety, environmental responsibility, andbusiness ethics. In 2024, we revised the SupplierControl Procedure, Supplier Quality Manual,and Specifications for Supplier ComprehensiveCapabilities Review. To promote sustainable supplychain management, we follow a lifecycle approachto supplier management, covering admission,evaluation, and exit procedures. In 2024, the Grouphad a total of 364 suppliers, including 37 coresuppliers. ●We comprehensively evaluate 7 types of capabilitiesof comprehensive guarantee, nancial stability, devel-opment and design, procurement assurance, productmanufacturing, experimental monitoring and productnetwork and data security. ●We require all suppliers to have IATF 16949, ISO1400 and ISO 45001 system certications. ● We require all suppliers to sign environmental commit-ments and the Integrity Commitment Letter. ●In 2024, we added two new evaluation dimensions tothe supplier access assessment: ESG capability andfunctional safety. The percentages of the scores ofESG capability and functional safety are 5% and 3%respectively. ●We regularly assess the 7 capabilitiesinvolved in the evaluation of the ac-cess phase. ●We conduct monthly performance as-sessments from the 4 dimensions ofquality, service, technology and cost,and require suppliers with problems tocomplete rectications in a timely man-ner. ●Based on the comprehensive evalua-tion scores and categories of suppliers,we manage suppliers by classicationand category, namely class A, B and C. ●We require suppliers with unqualified audit re-sults to carry out rectication and organize expertteams to provide assistance. ●The supplier whose rectifications are not com-pleted multiple times shall be phased out. ●For suppliers whose performance fails to meetstandards for a long time, we reduce the propor-tion of their product supply and cancel their qual-ication for developing new products. ●Suppliers that have serious accidents in quality,environmental pollution, business ethics shall bephased out. We actively conduct integrity promotion and external systemcertication of our supply chain system. As of the end of thereporting period, 100% of Seres Group’s suppliers signedthe Integrity Commitment Letter and all suppliers haveobtained the IATF 16949 system certication. Suppliers certied under ISO 14001Suppliers certied under IATF 16949 Sustainable Supply Chain Supplier Management System Supplier AccessSupplier Assessment Supplier Phase-out and Exit Supplier Life Cycle Management System 2024 Suppliers’ External System Certication 85%100% https://cdn-web.seres.cn/uploads/20241204/1dd040cf9408f510b23260720f8019eb.pdf Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities We have formulated systems such as the Supplier Quality ControlProcedure, Management Measures for High Quality Risk Suppliersand Management Measures for Second-Party Audit on Suppliers,clarifying the requirements on the stability and reliability of thesupplier’s parts production process and on supplier quality planning.In 2024, we strengthened quality control measures across Tier-1, Tier-2, and Tier-3 suppliers, comprehensively protecting productquality and safety. We continue to conduct regular quality audits for our suppliers,assessing their performance and offering support to help themimprove. Each month, we identify suppliers with consistently poorquality and add them to our high-risk list. Over the reporting period,we carried out product, process, and quality audits for 84 suppliers.on high-risk supplier system, and conducted periodic on-sitecharacteristic inspections of risky suppliers.To uphold our quality standards, we also focus on supplier training.During the reporting period, we organized seven training sessions,engaging 364 suppliers, covering our entire supplier base, tostrengthen their quality management capabilities. Supplier Quality Classication and Control Measures Tier-1Suppliers（DirectProcurement） Tier-2Suppliers （IndirectProcurement） Tier-3Suppliers （Raw MaterialSupplier） All Tier-1 suppliers must be IATF 16949certied, ensuring compliance with strict qualitymanagement standards. We conduct regularsecond-party audits, including scheduled on-siteinspections and unannounced reviews, covering100% of suppliers within a three-year cycle. We have formulated the Key Vertical ChainSupplier Management Measures. All Tier-2suppliers are required to obtain ISO 9001 oran equivalent quality certification. We conductannual audits for suppliers with identifiedproduct quality risks, ensuring proper qualitycontrol measures are in place. Tier-3 suppliers must obtain an IATF 16949certication or an equivalent third-party qualitymanagement system certification. While rawmaterial suppliers typically pose lower productquality risks, we conduct second-party auditsas needed in response to quality concerns orpotential risks to ensure compliance with qualitymanagement standards. Supplier Quality Control During the reporting period, we organized training sessions,covering our100% suppliers engaging suppliers Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities We have formulated the Procurement Risk Management Measuresto outline key ESG risk factors suppliers must address in theiroperations. These include product quality, legal compliance,business ethics, and environmental impact. ESG-related risks arealso integrated into our procurement risk control process.We conduct quarterly supplier risk assessments, including ESGrisks, and take countermeasures against risk points to ensuresmooth supply chain operations. In 2024, we audited 55 supplierson labor practices, health and safety, environmental impact, ethics,and management systems, achieving an 85% rectication rate. Nosignicant risks were identied during this process.We have established a supply chain emergency managementsystem to monitor and assess potential risks in supplier operations,public sentiment, and natural disasters. Using our SCM system,we track these risks in real time and map out detailed supplier riskprofiles to respond swiftly and mitigate disruptions. To enhancesupply chain flexibility and reliability, we promote the Vendor-Managed Inventory (VMI) model, optimizing inventory managementfor better efficiency. In 2024, we expanded our procurementchannels to reduce reliance on single suppliers, strengtheningoverall supply chain resilience. Meanwhile, we introduced origintracking for electronic materials at the per-vehicle level, ensuring fulltraceability from raw material procurement through manufacturingand logistics. This approach helps maintain smooth and efficientoperations at every stage. Supply Chain Risk Management SCM is short for Supply Chain Management System. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities We view green supply chain management as a key part of our transformation and development strategy.To standardize our approach, we have complied and released the Green Supply Chain ManagementMeasures, creating a comprehensive framework that covers supplier data collection, environmentalperformance oversight, battery supplier management, and annual training programs. At the same time,we have developed systems for green supplier selection and carbon reduction performance tracking forcore suppliers, working closely with partners across the supply chain to drive low-carbon development.We have also set clear sustainability targets for all suppliers, including green electricity usage, recycledmaterial ratios, carbon emission intensity, and energy consumption per unit. Using a carbon footprintdatabase for suppliers, we continuously track these metrics, integrating them into supplier evaluationsand contract decisions.To reduce the end-of-life environmental impact of our products and promote a circular economy, we haveimplemented battery traceability measures to ensure that data on vehicle batteries, from production andsales to replacement and recycling, is properly recorded and reported in line with national regulations.Additionally, we have partnered with certified recycling companies through waste battery recyclingagreements to safely collect and dispose of replaced battery packs from maintenance operations. ● Establish reasonable carbon emission targets for vehicles and key parts based on marketpositioning and industry trends. ●Develop modular and integrated low-carbon technologies to reduce emissions from productionand transportation. ● Prioritize high-performance, low-carbon materials from the green materials database incomponent design. ● Update and release the “Automobile Banned Substances, Recyclability, and DismantlingManagement Measures” to standardize the consistent management of banned substances andrecyclable products. ● Incorporate banned substance requirements into technical specifications, drawings, andagreements with suppliers, requiring them to submit a Banned Substance Commitment Letterand use eco-friendly, recyclable materials. ●Maximize testing conditions to improve equipment e?ciency and minimize energy consumption. ●Require suppliers to conduct third-party banned substance testing after componentdevelopment to ensure compliance with enterprise standards. ●Mandate suppliers to classify offcut materials, drainage waste, and end-of-life products,partnering with certied recycling agencies for proper reuse and disposal. ●Enforce strict banned substance controls, ensuring consistency in mass production throughhigh-frequency sampling to verify compliance with regulatory standards. Parts Design Phase Parts Validation Phase Parts Mass Production Phase Green Supply Chain Targets: By 2030， Parts Suppliers’ Green Management Measures 100 % of suppliers willmeet green supplier requirements Green Supply Chain Management Supplier carbon emissions willdecrease by 25% 40% of suppliers use renewableenergy in the production Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding Communities We are committed to building strong, collaborative relationshipswith our suppliers. By maintaining open communication throughphone calls, emails, business meetings, product exhibitions, andspecialized technical exchanges, we stay attuned to their needs andfeedback. Together, we work on solutions that drive mutual success.In the early stages of new projects, we co-develop parts andsystems with top suppliers, leveraging shared resources to optimizeboth design and production. To further support our suppliers, weorganize regular technical exchanges and training sessions, helpingthem strengthen their expertise and improve production capabilities.During the reporting period, we provided training covering 100%of our suppliers, focusing on key topics such as new technologyapplications, process optimization, quality control, environmentalprotection, and sustainable development. This ensures that suppliersremain aligned with our technological standards and businessexpectations. In 2024, we dispatched a “triangle team” composed of R&D,quality control and procurement personnel to the supplier’s site,strengthening collaboration by optimizing production processes andgaining a deeper understanding into their products. At the sametime, we partnered with top industry suppliers to host technology co-creation days and high-end exchange events, fostering innovationand shared expertise. These initiatives led to the identificationof over 400 new technologies, with over 100 selected for furtheranalysis and promotion. We have joined the Collaborative Innovation Center of Supply Chain in the Automobile Industry (S100), established by the China EV 100,committing to co-developing a high-quality ecosystem with our partners. S100 focuses on identifying supply chain vulnerabilities and risksin China, providing early warnings and solutions. As a high-level think tank, it works to address common industry challenges, promotestandardization, and explore new supply chain models to ensure supply chain stable operations. By becoming a member, we aim to enhance riskmitigation strategies and strengthen supply chain management through collaboration with other industry leaders. ESG and Sustainable Supply Chain Management Training for Suppliers Suppliers Exchange Activity Communication with and Empowerment of Suppliers These initiatives led to the identication of over new technologies Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesSocial Public Welfare Rural RevitalizationWe are committed to making a positive social impact by supporting rural revitalization, education, and other public welfare initiatives. During thereporting period, we contributed RMB 8,7678 million to charitable and social programs, helping create a more harmonious and prosperous society. We actively promote rural revitalization and respond to the "TenThousand Enterprises Revitalize Ten Thousand Villages" initiativeof the All-China Federation of Industry and Commerce. In 2024, thecompany made multiple purchases of local agricultural products inplaces such as Wuxi and Fengjie in Chongqing, helping farmersincrease their incomes and promoting the development of localcharacteristic agricultural industries. At the same time, the company'stotal investment in rural revitalization reached RMB 4.4916 million.Among them, the company purchased agricultural products such asnavel oranges, cured meat, and rice in the Wuxi and Fengjie areasof Chongqing, totaling RMB 4.1288 million (consumer assistance). Supporting Rural Revitalization Through Purchasing Agricultural Products In terms of donations, the company's amount of public welfare andcharitable donations reached RMB 10.3397 million in 2024. At thedonation ceremony of the "Hundreds of Enterprises Connect withHundreds of Villages" assistance action for border villages between theChongqing Federation of Industry and Commerce and Zhongba Countyin Shigatse City, we donated RMB 250,000 to Zhongba County. Theaim is to promote the economic and social development of the Shigatseregion, improve the living standards of the local people, and contribute tobuilding a happy and beautiful new Tibet. In addition, we also donated aLandian automobile worth RMB 112,800 to Dianjiang County, Chongqing,to support the local implementation of rural revitalization work. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and InclusionCaring for Talent Responsible Supply forBuilding CommunitiesEducation SupportWe strongly support the development of culture, sports andeducation undertakings by donating educational resources andstrengthening teaching initiatives. Through these efforts, weactively contribute to the national strategy of “Developing a QualityWorkforce”, helping to build stronger educational foundations. In 2024, we donated RMB 1.5 million in two batches toChongqing No. 1 Secondary School, supporting the “SeresAutomobile Talents” program. This program aims to cultivatetop-notch innovative talents in Chongqing, supportingstudents excellent in character and learning from familiesin need to complete high-school education, thereby furtherpromoting local education development. “Seres Automobile Talents” University Tour Collective Blood Donation Activity Company’s Education Donations in 2024 In August 2024, in addition to the RMB 1.5 million donationsfor the “Seres Automobile Talents” program at ChongqingNo. 1 Secondary School, we donated an additional RMB400,000 for the renovation and upgrading of teachingfacilities such as science and innovation laboratoriesand computer classrooms. This initiative aims to providestudents with a better learning environment, helping themgrow and develop. In September 2024, we donated RMB 150,000 to Xi'anJiaotong University to support the development of itseducational programs, supporting its greater achievement intechnological innovation and talent cultivation. Case： Supporting “Seres Automobile Talents”Program Case： Collective Blood Donation Volunteer ServiceActivity Volunteer Activity At Seres Group, we play an active role in giving back to thecommunity by engaging in community care and volunteerservices, including collective blood donation, elderly care visits,and environmental protection initiatives. Our dedicated volunteerteam is committed to making a positive impact through meaningfulactions. In 2024, we organized 370 volunteer activities, with 1,400participants contributing a total of 5,600 hours of service. On November 20, 2024, we organized a collective blooddonation activity at the Changshou Base and Wuyun LakeHeadquarters. A total of 75 employees participated anddonated 24,500 ml of blood, bringing the hope of life topatients in urgent need of blood. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Elderly Care Volunteer Activity On October 11, 2024, volunteers from our various Party branches and Youth League branchescarried out the “Accompanied by AITO，Warmth in the Double Ninth Festival” elderly care volunteeractivity at Fusheng Elderly Care Service Center, with a total of 15 volunteers participating. In thistwo-hour activity, volunteers not only sent gifts to the elderly but also gave performances to expresstheir best wishes, actively promoting the social values of lial piety and respect for the elderly. On November 23, 2024, we organized the “Environmental Protection Guardians· Protecting GreenMountains” volunteer activity at Jinyun Mountain National Nature Reserve with a total of 21 Partyand League volunteers and 5 environmental guardians participating. Through cleaning up themountains and forests, the activity aimed to protect biodiversity, promote environmental awarenessand contribute to ecological conservation. Case： “Caring for Children and Building Dreams for Children” June 1 Children’s DayCharitable Volunteer Activity Case： “Accompanied by AITO，Warmth in the Double Ninth Festival” Elderly CareVolunteer Activity Charitable Volunteer Activity Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesShanghai Stock Exchange IndexDimensionNumberTopics CorrespondingArticles Chapters Environment 1Climate Change MitigationArticle 21-28Climate Change Response Pollutant EmissionManagement Article 30Green Production3Waste DisposalArticle 31 Green ProductionGreen Logistics Ecosystem & BiodiversityProtection Article 32Climate Change Response5Environmental ComplianceArticle 33Green Production6Energy E?ciencyArticle 35Green Production7Water Resource ManagementArticle 36Green Production8Circular EconomyArticle 37 Green DesignGreen MaterialsGreen Logistics Society 9Rural RevitalizationArticle 39Social Public Welfare10Social ContributionArticle 40Social Public Welfare Innovation-DrivenDevelopment Article 42Research and Innovation12Technology EthicsArticle 43Research and Innovation13Supply Chain SecurityArticle 45Sustainable Supply Chain DimensionNumberTopics CorrespondingArticles Chapters Society 14SME Equal TreatmentArticle 46Sustainable Supply Chain Product/Service Safety &Quality Article 47 Product Quality and SafetyUsers Service16Data Security & PrivacyArticle 48 Information Safety and PrivacyProtection17Employee WelfareArticle 50 Employee Rights and WelfareEmployee Training andDevelopmentOccupational Health and Safety Governance 18Due DiligenceArticle 52ESG Management19Stakeholder EngagementArticle 53 Stakeholder EngagementCompliance Operations Anti Business Bribery &Corruption Article 55Business Ethics21Anti-Unfair CompetitionArticle 56Business Ethics Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities ESG Report Assurance Statement China Quality Certification Centre Co., Ltd.(CQC), commissioned by Seres Group Co., Ltd.(hereinafter referred to as Seres), conducted independent verification on SERES GROUP 2024Environmental, Social and Governance Report.(hereinafter referred to as the ESG Report) Seres was responsible for collecting, summarizing, analyzing, and disclosing the informationand data mentioned in the ESG Report.CQC implemented report verification within the scopespecied in the agreement with Seres. Seres is the designated user of this statement. This statement was based on the assurance activities conducted on the ESG Report preparedby Seres with reference to Shanghai Stock Exchange, Self-Regulatory Guidelines for ListedCompanies on the Shanghai Stock Exchange No. 14 - Sustainability Report (Trial), United NationsSustainable Development Goals , and Seres was responsible for the completeness and authenticityof the information and data in the ESG Report. Scope of Assurance Information and data disclosed in the ESG report Basis for Assurance AA1000 V3，Type 2, Moderate Assurance Assurance Methods The methods used in this assurance include but are not limited to: ： a) Report review; b) Interviews； c) Verication of documents, records, certicates, bills, and other materials; d) Field verication;e) Trusted information source verication;f) Verication against disclosure basis;g) Recalculation/estimation;h) Conrmation of statistical, calculation/estimation processes.Assurance ConclusionsThe ESG report reflects the performance of Seres in environmental, social, and corporategovernance in 2024. The information disclosed is true and reliable, and with availability, timelinessand relevance well maintained, which basically meets the requirements of AA1000 V3 as follows: Inclusivity: Seres has identied both internal and external stakeholders, including governmentand regulatory agencies, customers, employees, shareholders/investors, partners, non-governmental organizations,press. In the report preparation process, the expectations and needs ofstakeholders have been considered.Materiality: Based on the principle of impact materiality , Seres has identied and prioritizedtheir ESG issues, integrating the management of various issues into the company's daily operations.The overall content of the ESG Report meets the requirements of the materiality principle.Responsiveness: Seres has established a governance structure, management system andprocesses, as well as a communication mechanism with stakeholders, capable of taking action torespond to the demands of various stakeholders. Impact: Through quantitative, qualitative, or a combination of both, Seres has disclosed themain impacts on stakeholders in terms of environment, society, and governance. To: stakeholders of Seres Group Co., Ltd. Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding CommunitiesRecommendationsBased on the assurance ndings, it is recommended that: ■ Seres strengthen ESG performance monitoring, dynamically evaluate and adjust ESGperformance, and ensure the achievement and continuous improvement of ESG goals.Limitations■ This assurance was conducted using sampling methods based on quantitative and qualitativerisk analysis and the sampling scope was limited to the data and information selected in the ESGReport, not fully tracing or independently recalculating all raw data of Seres。■ This assurance only covered interviews and document review with Seres, and did not directlyinterview external stakeholders (such as suppliers, customers, etc.), nor did it contain independentverication of the information provided by external stakeholders of Seres.■ The data and information audited/veried by a third party in the ESG Report were not subjectto repeated verication during this assurance process.■ Some of the data and information in the ESG report cannot be compared and veried throughindependent sources. This assurance only evaluated their reasonableness. ■ Activities outside the scope of information disclosure were not included in this assurance; ■ The statement regarding the position, viewpoints, beliefs, goals, future developmentdirections, and commitments of Seres were not included in this assurance. Statement on Independence and Verication Capability A?liated with China Certication & Inspection Group (CCIC), CQC is a third-party professionalcertification body approved by the Chinese government and recognized by multiple foreigngovernments and international authoritative organizations. CQC can provide various managementsystems certification, product safety and performance certification, energy conservation andenvironmental certification, green and low-carbon technical services, management improvement, personnel training, and other related technical services, as well as independent verication servicesfor social responsibility reports, sustainable development reports, and ESG reports。As an independent certication body, CQC ensured that there were no conicts of interest withSeres and its stakeholders during the assurance process of the ESG Report. All information in theESG Report was provided by Seres. CQC and the personnel conducting this assurance of the ESGReport were not involved in the preparation process of the ESG Report. Note: In case of any inconsistency or discrepancy, the Chinese version of this assurance statementshall prevail, while the English translation is used for reference only. President of CQC: March 27, 2025Beijing, China Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operation for a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities Reader feedbackDear readers,Thank you very much for sparing time to read the 2024 Environmental, Social and Governance (ESG) Report of Seres Group Co., Ltd. We look forward to your opinions and suggestions on the report and our work. Youmay send the completed questionnaire to us by mail, email after scanning or fax. You may also give us your valuable opinions directly. Thanks. 1. What kind of stakeholder does your organization belong to? □Shareholder□Employees□Supplier□User□Government□Community□Bank□Academic institution□Other (specify here)_____________ 2. What is your overall assessment of this report? □Excellent□Good□Fair□ Poor 3. What do you think about the clarity, accuracy and completeness of the information and data disclosed in this report? □Excellent□Good□Fair□ Poor 4. How comprehensively do you think this report reects the economic responsibilities undertaken by the Company?□Excellent□Good□Fair□ Poor 5. How comprehensively do you think this report reects the environmental responsibilities undertaken by the company?□Excellent□Good□Fair□ Poor 6. How comprehensively do you think this report reflects the social responsibility undertaken by the company?□Excellent□Good□Fair□ Poor 7. What do you think of the design and layout of this report? □Excellent□Good□Fair□ Poor 8. What do you think needs to be improved most in this report? □Integrity Governance, Steady Development□Innovation-Driven, Excellence in Products□Low-Carbon Operations, Green Future□Diversity & Inclusion, Talent Care□ Responsible Supply Chain, Thriving Communities 9. What not disclosed in this report would you like to know? 10. Do Do you have any opinions and suggestions on Seres Group's environmental, social and governance and report preparation? Contact: Address: No.7 Wuyunhu Road, Shapingba District, Chongqing Municipality, ChinaPostal Code: 400000Email： 601127@seres.cn Clean Governance,Steady Development Innovation-Driven,Excellent Produces Low-carbon Operationfor a Green Future Diversity and Inclusion Caring for Talent Responsible Supply forBuilding Communities
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Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

2024Environmental, Social, and Governance ReportSeres Group Co., Ltd.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Message from the Chairman

Dear Partners and Friends,As the world accelerates toward sustainable development, Seres,as an explorer and practitioner in the new energy vehicle industry,remains unwavering in integrating environmental, social, andgovernance (ESG) principles into every facet of our corporate growth.For Seres, 2024 was a pivotal year of deepening ESG practices andactively fullling our Group social responsibilities, demonstrating oursteadfast commitment to sustainability through concrete actions.In 2024, Seres raced ahead on the track of technological innovation,delving into low-carbon technologies and developing eco-friendlyproducts to drive the transformation of automotive energy. Ourindependently developed Super Range Extender System, aftermultiple iterations, has been applied to models such as the AITOM9, M7, and M5. This breakthrough marks a transformative shiftfrom traditional “vehicle-oriented” to cutting-edge “user-oriented”development. Through deep optimization of hardware and softwareand seamless integration with smart technologies, we have not onlysignificantly enhanced vehicle performance and energy efficiency

but also delivered an unparalleled driving experience. In 2024,Seres sold 426,885 new energy vehicles, a year-on-year increaseof 182.84%, which demonstrates the market’s recognition of ourtechnological innovations. We firmly believe that technologicaladvancement is not only the core driving force of new qualityproductivity but also a fundamental requirement for ESG practices.Through innovation, Seres is turning the dream of green mobility intoreality, contributing indispensable strength to the global ght againstclimate change.In green manufacturing field, we actively uphold advanced low-carbon development principles, setting ambitious carbon goals:

“peaking emissions by 2030 and achieving carbon neutrality inproduction and operations by 2045, with near-zero emissions acrossthe entire value chain”. We are committed to energy conservationand emission reduction at every stage, from procurement andproduction to logistics and storage, setting a benchmark for low-carbon management in the automotive industry. Our smart factory,built according to national “Green Factory” standards, featuresrooftop photovoltaic stations with a total capacity exceeding 100MW, with cumulative power generation exceeding 80 million kWhand reducing CO

emissions by approximately 70,000 tons. We aresteadily advancing our second-phase solar project, which will reach

John ZhangChairman of Seres Group Co., Ltd.

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200 MW, producing 170 million kWh annually and cutting 140,000tons of CO

emissions—equivalent to planting more than 10 milliontrees. At the beginning of 2024, we inaugurated the Seres SuperFactory, a global benchmark under the “Automotive Industry Brain”ecosystem. It employs forward-looking eco-friendly technologies,achieving a 100% compliance rate in three wastes discharge, whileensuring proper disposal of all waste to minimize pollution andactively promoting energy recycling, with the wastewater treatmentplant reusing up to 200,000 tons of reclaimed water annually.In Group governance field, we have established a moderngovernance structure, embedding ESG principles into decision-making, operations, and oversight. We adhere to compliance,safeguard the rights of stakeholders—including shareholders,partners, employees, and users—and foster a transparent,fair, and sustainable corporate environment. Through cross-sector collaboration with industry leaders like Huawei and byestablishing an innovative "1+1+N" cooperative ecosystem with top-

tier supply chain partners, we have achieved high integration ofcomponents and localized supplier clusters. This innovative modelenhances supply chain stability and e?ciency while ensuring strictenvironmental standards in procurement and production, drivinggreen upgrades across the industry.Additionally, Seres is dedicated to giving back to society, and activelyfullls social responsibility. Guided by a people-centric philosophy,we prioritize employee growth and development, offering robustcareer platforms, favorable working environment, and abundantdevelopment opportunity. We also actively engage in philanthropy,supporting rural revitalization, disaster relief, and education. Westrive to contribute to social progress. We firmly believe that aGroup’s growth is inseparable from societal support, and only byactively giving back can we achieve shared prosperity for bothbusiness and society. In 2024, our charitable donations totaled RMB

10.3397 million, with 5,600 volunteer hours logged.

Looking ahead, Seres will continue to embed ESG into our long-term strategy, and be committed to longtermism and high-qualitydevelopment. We will keep to invest to further enhance technologicalinnovation ability to deliver superior, greener, and smarter NEVs forcustomers. We will further strengthen collaboration with upstreamand downstream partners in the industrial chain, working togetherto drive the ourishing development of green industries, contributemore wisdom and strength to global low-carbon mobility, and writean even brighter chapter in advancing sustainable socio-economicdevelopment.We extend our deepest gratitude to every partner, employee, andfriend from all sectors of society for their trust and support of Seres.Let us join hands and march forward toward a more sustainable andpromising future!

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Responsible Supply forBuilding CommunitiesAbout this ReportThis is the third Environmental, Social and Governance Report(“ESG Report” “this report”) published by Seres Group Co., Ltd.to respond to stakeholders’ expectations and to demonstrate theGroup’s philosophy, management, actions and effectiveness inenvironmental, social, corporate governance and sustainabledevelopment.

Reporting Scope

Explanation of References

Access to this Report

Disclaimers

Time FrameReporting Standards

Data Sources

The information and data disclosed in this report cover the SeresGroup Co., Ltd. and its main subsidiaries included in the annualreport. The key nancial data and the scope covered in the reportare consistent with the 2024 Annual Report of Seres Group Co., Ltd.

For the convenience of expression and reading, Seres Group Co.,Ltd. is referred to as “Seres Group”, “Seres”, “the Group”, and “we”in this report. Our important subsidiary, Seres Automobile Co., Ltd.is referred to as, “Seres Automobile”, Seres Automobile (Hubei) Co.,Ltd. as “Hubei Seres” (formerly known as “Dongfeng Sokon MotorCo., Ltd.”), Chongqing Ruichi Automobile Industry Co., Ltd. as “RuichiElectric”, Chongqing Jinkang Powertrain New Energy Co., Ltd. as“Jinkang Power”, Chongqing Xiaokang Power Co., Ltd. as “XiaokangPower”, Chongqing Xiaokang Auto Parts Co., Ltd. as “Xiaokang AutoParts”, and Luzhou Rongda Intelligent Transmission Co., Ltd. as“Luzhou Rongda”.

You can download the English and Chinese versions of this reportfrom the official websites of Seres Group (https://www.seres.com.cn/) and the Shanghai Stock Exchange (http://english.sse.com.cn/).In case of any inconsistency in the versions, the Chinese versionshall prevail.

Certain statements in this report are forward-looking statementsabout our goals and plans for the future. Uncertainties and otherfactors that may cause our actual results to be materially di?erentfrom those expressed or implied by the forward-looking statements.The Group is under no obligation to update any forward-lookingstatements contained in this report.

This report covers the period from January 1, 2024 to December31, 2024 (hereinafter referred to as the “the reporting period”, “thecurrent year”, “2024”), with some proper retrospective references toprevious years.

SDGs，Sustainable Development Goals, or United Nations Sustainable Development Goals, are 17 global development goals set by the United Nations to guide global development from 2015-2030.

This report is prepared with reference to the requirements ofGuidelines No. 14 of Shanghai Stock Exchange for Self-Regulationof Listed Companies—Sustainability Report (Trial), and the UnitedNations Sustainable Development Goals (SDGs)

, as well as therealities of Seres Group Co., Ltd.

The information and data quoted in this report are obtained fromthe official documents, statistical reports and financial reports ofSeres Group Co., Ltd., and have been compiled, summarized andreviewed by the relevant departments. Unless otherwise specied,“yuan” in this report refers to “RMB”.

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About the GroupFounded in 1986, Seres Group Co., Ltd. is a listed A-share company(stock code: 601127) specializing in intelligent electric vehicles,ranks among the top 500 Chinese enterprises. Our core businesscovers the research, development, manufacturing, sales, andservice of smart electric vehicles and key EIC technologies.We continue to strengthen our foundation through investment inR&D (Research and Development), driving innovation and high-quality growth. In 2024, our R&D expenses were RMB 7.053 billion,with a year - on - year growth of 58.91%. This led to the successfulmass production of models like the AITO M9, M9 Large Five-Seater,New M7 Ultra, New M7 Pro, and E5 PLUS. These achievementsreflect our growing brand influence and leadership in the industry.We possess leading intelligent manufacturing capabilities. Ourmanufacturing capabilities are powered by the Seres SmartFactory, which integrates over 5,000 robots and advancedtechnologies such as IoT, big data, digital twins, 5G, AI, and BIM.By integrating advanced manufacturing technologies with ICT,we ensure efficient, high-quality production with our cutting-edgeintelligent manufacturing strength. Our main product lineup includesthe premium AITO series and BlueElectric new energy vehicles,designed to meet diverse customer needs. In 2024, we completedthe mass production and delivery of models such as the AITO NewM5, AITO New M7, and AITO M9. AITO has won the rst place in theNet Promoter Score (NPS) of new energy vehicle brands.

In 2024, the Group's annual production of automotive productsreached 496,431 vehicles, and the annual sales volume was497,008 vehicles. Among them, the annual production of new energyvehicles was 429,459 vehicles, and the annual sales volume was426,885 vehicles. the Group's operating revenue amounted to RMB

145.176 billion, representing a year-on-year increase of 305.04%.

Both the production and sales volume of new energy vehicles andthe company's business performance reached new highs.

In 2024, the Group's annual productionof automotive products reached496,431

vehiclesand the annual sales volume was497,008

vehiclesthe Group's operating revenue amounted to RMB

145.176

billion

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●Seres and China AutomotiveEngineering Research Instituteestablished a Smart Safety JointLaboratory

●

10,000-ton integrated die-castingmachine put into production

●Seres featured on the front page ofPeople’s Daily, with over 80 reportsfrom three major state media outletsthroughout the year

●The 400,000th AITO vehicle rolled o?the production line, making AITO thefastest Chinese NEV brand to reachthis milestone

●Seres selected for China MediaGroup’s “Brand Power Project,” andAITO became its Strategic Partner forAutomotive Excellence

●Seres signed an investment agreementwith Huawei

●Seres released its fundamentalguidelines

●

AITO showcased at theGuangzhou Auto Show

●Next-generation Seres SuperRange-Extender Systemunveiled

●Seres launched a global campusrecruitment, strengthening talentdevelopment to drive innovation

Major Events in 2024

A Smart Transformation onthe Path to Luxury Growth

February

March

●Q1 2024 net prot attributable tothe parent company shareholdersreached RMB 0.22 billion, makingSeres the fourth globally protablenew energy vehicle (NEV) company

●Seres Super Factory completedand put into operation

●First batch of AITO M9 deliveriescompleted

April

May

June

●Seres included in four major stockindices

●AITO M9 ranked No.1 in luxuryvehicle sales above RMB 500,000for nine consecutive months

July

August

●AITO showcased at the Beijing AutoShow

●Seres MF Technical Platform madeits debut

●Seres and supply chain partnershosted 16 technical exchangeexhibitions

●Seres range extenders set a newsales record, reaching 475,486 units

●AITO’s cumulative smart drivingmileage exceeded 1.05 billionkilometers, with over 360,000 smartdriving users

●AITO’s smart service systemproactively cared users over 18,000times, saving more than 120,000hours in maintenance time

In 2024

●AITO made its debut at the Paris AutoShow

●E5 PLUS launched

●AITO became the o?cial partner ofChina’s national rhythmic gymnasticsteam

●Seres Q3 nancial report: revenueexceeded 100 billion yuan, with anet prot attributable to the parentcompany shareholders of RMB 4.038billion in the rst three quarters

September

October

December

November

●“AITO Across Mountains andRivers - Smart Driving Tour inEurope” launched, spanning fromfactory oors to auto shows, fromChongqing to Paris

●Seres and Huawei Digital Powerintroduced the world’s highest-altitude EV supercharging stationat Mount Everest

●Seres Super Factory launched theworld’s rst intelligent logistics hub

Clean Governance,Steady Development

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Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesSDGs Response

Chapter TitleUN SDGsCommitments and Key ActionsIntegrity Governance,Steady Development

We deeply integrate ESG governance in our development and operations. By strengthening compliance management, enhancing internalcontrols, and improving risk management, we aim to uphold the highest standards of business ethics, and build a stable, transparent, andsustainable corporate environment.Innovation-Driven,Excellence inProducts

Innovation is at the core of everything we do. We are dedicated to developing an automotive ecosystem that embraces the Internet ofEverything, while advancing a low-carbon technology framework. By leveraging cutting-edge electric and range-extending technologies,we actively work to reduce our carbon footprint. We prioritize the protection of intellectual property, maintain strict quality and safetystandards, enhance customer service, safeguard user information and privacy, and continuously improve user satisfaction.

Low-CarbonOperations, GreenFuture

We have set medium- and long-term dual-carbon goals, responding to carbon targets and a “dual-carbon” strategy. Our approach focuseson both enhancing climate risk resilience and seizing climate-related opportunities. Sustainability is embedded across every stage of ouroperations—from product design, procurement, and material usage to manufacturing, logistics, supply chain management, sales, andrecycling. In particular, we work closely with partners to build a green industrial chain, aiming to reduce the carbon footprint throughout aproduct's entire lifecycle. By encouraging all participants in our ecosystem to take on social responsibilities, we are fostering a culture ofgreen innovation.We participated in global climate initiatives such as COP29 and the Belt and Road Green and Low-Carbon Development Dialogue,showcasing China’s new energy vehicle (NEV) innovations and Sere’s contributions to the global transition towards green transportationenergy. Committed to low-carbon operations, we build a sustainable NEV industry ecosystem, working together to create a greener future.Diversity & Inclusion,Talent Care

We are committed to creating a fair, inclusive, and diverse work environment, where every employee is respected and given equalopportunities to grow. Our focus is on attracting and retaining top talent while empowering employees through diverse training anddevelopment programs. We prioritize employee rights and well-being, ensuring occupational health and safety while fostering the sharedgrowth between our people and the Group.Responsible SupplyChain, ThrivingCommunities

We are committed to building an e?cient, sustainable, and responsible supply chain. By working closely with our partners, we strive tocreate mutual benets and long-term success. Beyond business, we actively contribute to community development, focusing on ruralrevitalization, educational philanthropy, and other public welfare initiatives, demonstrating our corporate social responsibility throughconcrete actions.

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Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities2024 Honorary Awards

HonoraryAward WinnerIssued by

Merged into Seres Automobile Co., Ltd., in 2024.

Typical Case of Technological and IndustrialInnovation in Private Enterprises(Private Enterprise Industrial Innovation)

Seres Group Co., LtdAll-China Federation of Industry and

Commerce

2024 Typical Application Case of FunctionalSafety in Intelligent Connected Vehicles (ICV)(Functional Safety Operation Monitoring

Platform)Chongqing Seres New EnergyVehicle Design Institute Co., Ltd.

China Society of Automotive Engineers(SAE-China), National Innovation Center ofIntelligent and Connected Vehicles

Second Prize of the China Society ofAutomotive Engineers (SAE) Scienceand Technology Progress Award

China Society of Automotive Engineers

(SAE-China)Seres Automobile Co., Ltd.,

Seres Group Co., Ltd.,Chongqing Seres New Energy Vehicle

Design Institute Co., Ltd.

2024 Outstanding Practice Case ofSustainable Development for Listed

CompaniesSeres Group Co., LtdChina Listed Companies Association

“Xinhua Credit Mingzhu Cup” OutstandingClimate Change Response Project Case

Seres Group Co., LtdSeres Group Co., LtdXinhua News Agency Guangzhou Branch,China Economic Information Service

MSCI ESG Rating A

Seres Group Co., LtdMSCI

2024 Top 100 ESG Best Practicesfor Listed Companies in China AA

Seres Group Co., Ltd

Wind

Economic Observer, 2024 ChinaInternational Fair for Trade in Services

(CIFTIS)

Core Competitiveness ESGComprehensive Governance

Benchmark Enterprise

ESG Golden Award – BestTechnological Innovation Breakthrough

Seres Group Co., Ltd

Securities Market Weekly

2024 ESG Pioneer Award

Seres Group Co., LtdCaixin Media

Top 100 in the 2nd Guoxin CupESG Golden Bull Award

Seres Group Co., LtdChina Securities Journal

Outstanding ESG Practice Excellence

Case Award2024 Financial Golden AwardSeres Group Co., LtdFinance Industry

Top 100 Private EnterpriseTechnological Innovation Index in

Chongqing (Ranked 1st)Seres Group Co., LtdChongqing Federation of Industry andCommerce, Chongqing Science and

Technology Bureau

Top 100 Private Enterprises forSocial Responsibility in Chongqing

(Ranked 2nd)Seres Group Co., LtdChongqing Federation of Industry

and Commerce

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National Green Factory

Hubei Province Green FactorySichuan Province Green FactoryChongqing Green Factory

“Zero Waste Factory”Third Prize in the “Environmental EmergencyDrills and Response Team Combat

Competition”2024 Chongqing Green and Low-Carbon

Typical Case of the Year

Seres Automobile (Hubei) Co., Ltd.

Seres Automobile (Hubei) Co., Ltd.Luzhou Rongda Intelligent Transmission Co., Ltd.Chongqing Jinkang Power Co., Ltd.

Seres Automobile Co., Ltd.Seres Automobile Co., Ltd.Seres Automobile Co., Ltd.Ministry of Industry and InformationTechnology of the People’s Republic of China

Hubei Provincial Department of Economyand Information Technology

Sichuan Provincial Department of Economy

and Information TechnologyChongqing Municipal Commission ofEconomy and Information Technology

Chongqing Jiangbei District Ecology andEnvironment Bureau & Chongqing JiangbeiDistrict Economic and Information Technology

CommissionLiangjiang District, ChongqingChongqing Ecology and Environment Bureau

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Stakeholder Engagement

We place great importance on listening to both internal and external stakeholders. During the reporting period, we maintained active communication through various channels, ensuring we understood and addressed theirexpectations and concerns. This approach helped us identify priorities for our sustainable development e?orts and clarify key directions for the Group’s future, aiming to achieve mutual benets and win-win cooperation.

StakeholdersEmployeeShareholders/InvestorsUsers

Government andRegulators

Partners (e.g. suppliers,service providers)

Community Members/Organizations/NGOs

Media

Topics in Focus

●

Employee training anddevelopment

●Employee rights, interestsand welfare

●Occupational health andsafety

●Diversity and equalopportunity

●Group businessperformance

●Governance structure

●Business ethics

●Corporate governance

●

Compliance and riskmanagement

●

Users service andsatisfaction

●

Information security andprivacy protection

●Product quality and safety

●Community public welfare

●

Compliance and riskmanagement

●Science and technologyinnovation and intellectualproperty protection

●Group businessperformance

●Legal compliance

●Business ethics

●Corporate governance

●Compliance and riskmanagement

●Supply chainmanagement

●Raw material procure

●Supplier Support

●Economic and socialcontributions

●Community publicwelfare

●Support for thedisadvantaged

●Green technologies andproducts

●Economic and socialcontributions

●Community publicwelfare

●Support for thedisadvantaged

●Product quality andsafety

CommunicationChannels

●Employee performanceevaluation interviews

●Internal communicationmeeting

●

Employee training

●Regular research feedback

●

Corporate culture promotionand implementation activities

●Internal o?ce system

●General meeting ofshareholders

●Investor meeting

●

Earnings presentation

●Announcement/Pressrelease

●On-site investigation

●Investor hotline/email

●Exchange onlineinteractive platform

●O?cial website, o?cial App

●Social media matrix

●Product research feedback

●User complaints andhandling

●User satisfaction survey

●Information disclosure

●On-site investigation

●Talk

●Daily communicationand reporting

●On-site investigation

●Supplier meetings andaudits

●Supplier contracts andagreements

●Supplier training

●Talk

●On-site projectresidency

●Community activities

●On-site investigation

●Group website andsocial media matrix

●

Announcement/Pressrelease

●Press conference

●

Media exchangemeeting

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Responsible Supply forBuilding CommunitiesMateriality Issues AnalysisWe are committed to identifying, assessing, and managing ESG issues. In 2024, we carefully considered the concerns of various stakeholders, aligning them with industry trends and our business strategy. We conducteda substantial issue assessment from the three dimensions of environment, social, and governance, and developed a materiality matrix to address stakeholder concerns. Looking ahead to 2025, and in alignment with theShanghai Stock Exchange’s “Sustainability Reporting Guidelines (Draft for Public Comments)”, we will conduct a dual materiality analysis. This analysis will not only evaluate ESG issues based on their broader impact butwill also consider their nancial signicance to the Group. This will deepen our understanding of how ESG factors a?ect both our operations and the external environment, providing a strong foundation for shaping a moreinformed and resilient sustainable development strategy.

High ImportanceModerate Importance

Low Importance

Materiality Issues Matrix in 2024Materiality Issues Distribution in 2024

Importance to Stakeholders

Importance to the Group’s Sustainable DevelopmentLow Importance

Environmental IssueGovernance IssueSocial Issue

Moderate ImportanceHigh Importance

1 Users Service andSatisfaction

Social Issue2 Science and TechnologyInnovation and IntellectualProperty Protection

Social Issue3 Product Quality and SafetySocial Issue4 Supply Chain ManagementSocial Issue5 Employee Training andDevelopment

Social Issue6 Information Security andPrivacy Protection

Social Issue

7 Green Technologies andProducts

Environmental

Issue8 Business Ethics

Governance

Issue16 Climate Change

Environmental

Issue

9 Employee Rights, Interests andWelfare

Social Issue10 Occupational Health and SafetySocial Issue11 Corporate GovernanceGovernance Issue12 Compliance and Risk ManagementGovernance Issue13 Energy Use and Management

Environmental

Issue14 Emissions Management

Environmental

Issue15 Water Resource Management

Environmental

Issue

17 Diversication and equal opportunitySocial Issue18 Community welfareSocial Issue

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At the 29th Conference of the Parties (COP29) to the UnitedNations Framework Convention on Climate Change, Seresproudly represented China’s new energy vehicle industry.We shared our innovative practices and achievementsin promoting green, low-carbon development. Through astrategic focus on “carbon reduction, carbon utilization,and carbon management, Seres not only demonstratedits commitment to addressing climate change but alsoprovided a Chinese solution to the global transportationenergy transition.

During the COP29 China Pavilion theme session, Seres highlightedhow we have integrated “Dual Carbon” goals into our mid- and long-term strategic planning, established a carbon neutrality workinggroup, and applied green principles across the entire productlifecycle, from design and procurement to production, logistics,and recycling. Through continuous technological innovation andecosystem integration, Seres introduced three high-end NEVmodels: AITO M9, M7, and M5. From January to December 2024,new energy vehicles annual sales volume was 426,885 vehicles,with the AITO M9 maintaining its position as the top-selling modelin China’s luxury segment (above RMB 500,000) for 11 consecutivemonths, showcasing market recognition of green products.

Seres Group’s Voice at COP29: Full Lifecycle Carbon Neutrality Practice

From January to December 2024, new energy vehiclesannual sales volume was426,885

vehicles

with the AITO M9 maintaining its position as the top-sellingmodel in China’s luxury segment(above RMB

500,000

) for 11 consecutivemonths

Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

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Feature

Driving Low-Carbon Development of New EnergyVehicles through Technological Innovation —Seres Responds to Climate Change

Seres actively responds to the Belt and Road Initiative for green low-carbon development, by advancing international cooperation throughthe export of low-carbon products and technologies. In the future, the Group will continue to deepen cooperation with global partners, explorecutting-edge low-carbon technologies, and work together to build a sustainable ecosystem for the new energy vehicle industry.

The “factory-in-factory” model at Seres’ super factory is an innovative supply chain collaboration model. By integrating key component suppliersdirectly into the vehicle manufacturing facility, this model streamlines operations, enhances efficiency, and promotes rapid response. Keyadvantages of the model include:

The “factory-in-factory” model not only enhances production e?ciency and supply chain coordination but also contributes positively to thecarbon reduction goals by reducing logistics and improving energy e?ciency.

Low-Carbon Model Innovation: The “Factory-in-Factory” Model

Global Cooperation: Building a Green “Belt and Road” Ecosystem

At Seres, we prioritize the use of renewable and recyclable materials todrive energy savings and reduce carbon emissions in manufacturing.Our products have a recycling rate of 97%, with 100% utilization ofsolid waste disposal. The AITO series introduced 1,590 lightweightingsolutions, significantly cutting energy consumption and lowering thecarbon footprint.By building distributed photovoltaic power stations on rooftops andparking lots, Seres has created a “photovoltaic+vehicle manufacturing”low-carbon manufacturing model. With a total installed capacityexceeding 102 MW, these stations have generated a cumulative 89.1166million kWh of clean electricity. Additionally, we have purchased 20.05million kWh of renewable energy to further accelerate our low-carbonenergy transition in production. In our super factory, we’ve launched azero-carbon smart logistics port project. This includes the deployment of18 autonomous electric heavy trucks to replace traditional fuel-poweredvehicles. These trucks run on green electricity, significantly reducingemissions from factory logistics. We have also developed a digitalcarbon management platform powered by an end-to-cloud integrationtechnology framework, enabling carbon emission management withinthe factory and full lifecycle carbon footprint management for products,minimizing emissions across the entire industry chain.

Technological Innovation:

From Low-Carbon Manufacturing to SmartZero-Carbon Logistics

Our products have a recycling rate of97%

, with100%

utilization of solid waste disposal

From the momentan order is placedto the adjustment ofsupplier productionlines, the entireprocess takes lessthan 20 minutes.

Quick ResponseReduced Logistics

Once parts aremanufactured,they are shippeddirectly to the mainworkshop via anaerial corridor,signicantlyreducing logisticssteps. Thousandsof components canbe cycled and usedwithin the same day.

Improved ProductionE?ciency

The stampingprocess, forinstance, canproduce 16 partsper minute. Thefactory achieves100% automation inmaterial transport,welding, andspraying.

Quality Control

Leveraging an IoT(Internet of Things)platform, Seresautomatically collectsand analyzes 100%of quality data, fromraw materials tonished products.

Reduced LogisticsCarbon EmissionsBy shorteningtransport distancesand times, itsignicantly reduceslogistics-relatedcarbon emissions.

Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Integrity Governance,Steady DevelopmentWe strictly comply with national laws and regulations as well as the regulatoryrequirements for listed companies, establishing a sound corporate governancestructure, implementing compliance operations and risk management, and firmlyupholding corporate business ethics. We rmly oppose all forms of corruption, bribery,and unfair competition. At the same time, we continuously improve our ESG framework,improving governance capabilities to support our steady and sustainable growth.

The Group held

shareholder meetingswith a100%

attendance rate from relevantmembers of the board and supervisory boardNocases of violation of business ethics werereported100%

of employees received training onbusiness ethics and anti-corruption

with a total of49,260

hours of training

board meetings

supervisoryboard meetings

2024 Highlights Performance

SDGs Responses

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesCompliance Operations

Governance Structure

The Group is committed to continuously enhancing its corporate governance structure by promoting board diversity, ensuring independence,and elevating the level of corporate governance. We conduct investor communication activities in compliance with laws and regulations, fullysafeguarding the rights and interests of investors.

The Group strictly adheres to laws and regulations such as the Company Law of the People’s Republic of China and the Rules Governing theListing of Stocks on the Shanghai Stock Exchange, as well as regulatory documents. Based on the Articles of Association of Seres Group Co.,Ltd., we have established a clear and well-dened governance structure, which includes a board of directors and ve specialized committees,ensuring the Group’s steady and e?cient development.

The Group continues to optimize its governance system. We have established and refined a “three-meeting and one level” managementstructure, comprising the general meeting of shareholders, the board of directors, the supervisory board, and the management team. Our focusis on improving decision-making processes and strengthening internal oversight mechanisms to ensure that all departments and subsidiariesoperate efficiently and fulfill their functions, thereby enhancing governance standards. In 2024, the Group held six general meetings ofshareholders, eleven board meetings, fourteen board committee meetings, and ten supervisory board meetings, with a 100% attendance rate forthe respective members of the board and supervisory board.

The Group’s Governance Structure

The Board of Directors

The StrategicDecision-making

Committee

The Nominating

Committee

The Compensation

and EvaluationCommittee

ESG CommitteeThe Audit Committee

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesBoard Diversication and Independence

Information Disclosure

Seres strictly adheres to the Articles of Association of Seres GroupCo., Ltd. and enhances the independence and diversity of the boardof directors. The Nomination Committee carefully considers factorssuch as gender, age, ethnicity, professional skills, experience,and cultural background when nominating and appointing boardmembers. The Committee also regularly reviews and supervisesthe implementation of board diversity. As of the end of the reportingperiod, the board consists of twelve directors, including fourindependent directors (33.33%) and one female director (8.33%).The Audit Committee, Nomination Committee, and Remunerationand Appraisal Committee are all have independent directors.Furthermore, Board members also come from diverse professionalbackgrounds, including risk management, financial management,legal a?airs, and sustainability, supporting the e?cient and scienticoperation of the board.

Seres follows the Rules Governing the Listing of Stocks onthe Shanghai Stock Exchange and its Information DisclosureManagement System to ensure that disclosed information istimely, accurate, and complete. This approach helps stakeholdersgain deeper insights into the Group’s governance and operations.Additionally, we have established an Investor Relations ManagementSystem to continuously expand communication channels, strengtheninteractions, and protect the legitimate rights and interests ofinvestors, especially minority shareholders.

Composition and Background of DirectorsName of DirectorDirectorships

Professional SkillsRisk ManagementFinancial ManagementIndustry ExperienceMr. Zhang ZhengpingDirector, ChairmanMr. You ZhengDirector

Mr. Li WeiDirectorMr. Zhou ChanglingDirectorMr. Yin XianzhiDirectorMr. Zhang KebangDirectorMs. Shen WeiDirectorMr. Zhang ZhengyuanDirector

Mr. Li KaiguoIndependent DirectorMr. Zhang GuolinIndependent Director

Mr. Li MingIndependent DirectorMr. Jing XufengIndependent Director

In 2024, the Group actively engaged with investors through multiple platforms, including the Shanghai Stock Exchange e-Interaction platformand investor hotlines. During the reporting period, we responded to 404 investor inquiries on the e-Interaction platform and answered over 1,000investor calls, totaling more than 5,000 minutes of direct communication, ensuring investors’ right to information. Moreover, we organized on-siteresearch events, such as the “Securities Analysts Seres Research Activities.” These events provided brokerage rms and research institutionswith rsthand insights into Seres’ intelligent manufacturing capabilities, product competitiveness, organizational e?ciency, and managementteam. Throughout the reporting period, we conducted over 150 investor research sessions and participated in more than 100 roadshows,e?ectively showcasing the Group’s investment value.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesRisk ManagementSeres is committed to strengthening risk management and internal control by implementing internal regulations such as the Comprehensive Risk Management System and the Internal Control Management System. Basedon the “Three Lines of Defense” risk management model, we continuously optimize our control mechanisms to ensure that risk management is integrated into every aspect of our operations, from strategic planning andbusiness goal setting to resource allocation and performance management. By adhering to strict risk control principles, we embed comprehensive risk management into all workows and engage every employee in theprocess, e?ectively mitigating major risks.

The Group conducts annual internal and external risk assessments following the Risk Classication Framework and risk assessment standards. Risks are categorized into seven major types: strategic risk, market risk,operational risk, nancial risk, legal risk, corporate social responsibility (CSR) risk, and non-traditional risks. Based on the identied risk types and levels, we develop targeted response plans and implement dynamicmonitoring to enhance the risk management process. Additionally, we have also integrated ESG risk management into our daily framework, ensuring that major ESG risks—such as environmental protection, product qualityand safety, and business ethics—are identied and addressed proactively. This approach enhances our ability to manage risks related to sustainable development and overall risk control.Seres adheres to the internal audit principle of “audit all operations, review all results, and audit all departures,” ensuring that internal auditing remains closely aligned with risk management. We have established asystematic internal control system and a long-term internal supervision mechanism focused on strategic execution, investment, and operations to maintain regulatory compliance. In 2024, our internal audits covered assetvalue preservation, operational e?ciency assessment, information system security reviews, compliance with listing regulations, and evaluations of the e?ectiveness of the internal control and risk management systems.For any risks identied during audits, we have implemented a comprehensive rectication mechanism that combines full-scale corrections, specialized rectications, and key issue supervision to ensure long-term riskmitigation.

Risk Management and Control MechanismThe First DefenseThe Second DefenseThe Third Defense

●It consists of core business modules such as R&D,marketing, sales, production and supply.

●We build and maintain appropriate structures andprocesses in accordance with our operations and riskmanagement.

●This ensures that all business operations comply withlaws, regulations, internal rules and ethical standards.

●We achieve closed-loop risk management throughrisk identification, assessment and implementation ofcountermeasures.

●It is composed of functional departments such as thePlanning and Strategy Department, the Finance Department,the Legal Affairs Department, the IT, Network and DataSecurity Departmentl.

●The defense provides expertise, support and supervision formatters related to risk management of the rst defense, andmakes reasonable suggestions.

●

The defense also arranges, implements and continuallyimproves risk management at the levels of working process,system and organization.

●It consists of the internal audit department and thesupervision department.

●The defense provides independent and objectiveconfirmation and consultation for accurate ande?ective corporate governance and risk management.

●

This supports the Group to achieve goals related torisk management, and promote and improve the riskmanagement system.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

ESG ManagementWe actively respond to the United Nations Sustainable Development Goals (SDGs) by establishing a three-tier ESG governance structure: theBoard of Directors, ESG Committee, and ESG Executive Group. This structure helps us continuously strengthen our ESG standards. The Boardof Directors, as the highest decision-making body, oversees all ESG matters. The ESG Committee is authorized to manage ESG activities andpromptly report relevant issues to the Board.

GovernanceLevel

Management

Level

Executive

Level

ESG Committee

ESG Executive Group

As the highest responsible and decision-making body for the Group's ESG-related matters, the Board of Directorshas the ultimate responsibility for such matters.It reviews and approves the ESG strategies and action plans, and assesses ESG performance and progressagainst targets.

It coordinates matters related to ESG management, and formulates medium and long-term ESG developmentstrategies and action paths.It oversees and guides the effective implementation of the Group’s environmental, social responsibility andcorporate governance.

Including the Planning and Strategy Headquarters, Internal Control and Audit Headquarters, and Securities A?airsHeadquarters, work together to execute and implement the annual ESG work plans, and identify and manageESG-related risks.

The Board of Directors

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesBusiness Ethics

Anti-Corruption

The Group upholds strong business ethics by continuouslyoptimizing our anti-corruption framework, ensuring accessiblereporting channels, and enforcing whistleblower protection.Meanwhile, we firmly oppose unfair competition and monopolisticpractices, working to maintain a fair, transparent, and trustworthybusiness environment.

Management LevelThe Board of Directors is thehighest management body foranti-corruption.The Board of Supervisorssupports the Board by reviewinganti-corruption mechanisms andmonitoring the Group's integrityand compliance performance.

In accordance with the BasicRegulations for the Development ofthe Group, Anti-Corruption Systemand Internal Supervision Systemand other systems, the SupervisionHeadquarters oversees complianceand ensures the Group operatesethically and e?ectively.

It is composed of functionaldepartments such as the Group’sHuman Resources Headquarters,Logistics and Party WorkHeadquarters and the InternalControl and Audit Headquarters.Under the SupervisionHeadquarters' guidance, thesedepartments collaborate to upholdethical standards.

Business Ethics Governance System of the Group

The Group strictly complies with the Criminal Law of the People’sRepublic of China, the Supervision Law of the People’s Republic ofChina, and other relevant laws and regulations. Our managementsystems, including the Anti-Corruption Policy, Internal SupervisionPolicy, and Basic Regulations for the Development of the Group,require all employees to adhere to applicable laws, regulations, andinternal policies. During the reporting period, we issued the BusinessPartner Integrity Cooperation Management Measures, outliningintegrity standards for suppliers, distributors, service providers,agents, and consulting firms to ensure ethical and compliantbusiness development.Our three-level business ethics governance system includes:

oversight by the Board of Directors, management by the SupervisionHeadquarters, and execution by key departments such as HumanResources, Party Affairs & Logistics, and Internal Control & AuditHeadquarters. The Board of Directors, as the highest authority,oversees anti-corruption efforts. During the reporting period, nocorruption-related lawsuits were recorded.

The Group actively identies and mitigates corruption risks, rmly opposing corruption and bribery while upholding high ethical standards. In2024, the internal audit department conducted a Group-wide anti-corruption audit to continuously identify and assess potential risks. Whenissues were identied, relevant departments were required to establish internal controls and implement corrective actions. This approach not onlysafeguards the Group’s economic interests and reputation but also supports its steady growth.To promote transparency, the Group has established accessible reporting channels, including a hotline, mailing address, and email. A clearcomplaint-handling process ensures that reports are addressed promptly and e?ectively. Upon receiving a report, a designated supervision teaminvestigates the matter. For urgent cases, investigations are initiated immediately, with supplementary materials submitted within three days ofcompletion to maintain e?ciency. Additionally, the Group has implemented a conict-of-interest avoidance mechanism. Monitoring personnel areexcluded from cases where personal or familial ties could compromise fairness, ensuring objective and impartial investigations.

Governance LevelExecutive Level

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Reporting EmailMailing Address

Reporting Channels

We continuously improve our whistleblower protection mechanisms, strictly enforcing condentiality measures and upholding our duty to protectsensitive information. In 2024, the Group introduced the Seres Whistleblower Protection and Reward System

, strictly protect in accordance withthe law to ensure that the personal information of whistleblowers and the content of their reports are not leaked. Retaliation in any form is strictlyprohibited, and breaches of condentiality or retaliatory actions will result in severe penalties, with serious cases subject to legal consequences.This ensures the full protection of whistleblowers’ rights.We actively promote anti-corruption awareness through both online and o?ine training initiatives, fostering a culture of integrity and encouragingethical self-discipline among employees and business partners. This year, the Group organized anti-corruption training and awareness programscovering all employees and business partners, reinforcing a Group-wide commitment to ethical business conduct across the entire value chain.We held 31 training sessions, achieving 100% coverage of employees

and contractors, with a total of 49,260 training hours. These e?orts havestrengthened awareness and commitment to ethical conduct.While ensuring employees uphold anti-corruption and anti-bribery standards, we also closely monitor our business partners’ compliance withanti-corruption e?orts. The Group has formulated the Seres Business Partner Integrity Cooperation Management Measures

and the IntegritySelf-Discipline Management Measures, maintaining a zero-tolerance policy business for ethical violations by suppliers. All suppliers must signthe Seres Sunshine Project Integrity Agreement upon admission. In 2024, the agreement’s signing rate among suppliers reached 100%.

The Group strictly complies with the Anti-UnfairCompetition Law of the People’s Republic of China andthe Anti-Monopoly Law of the People’s Republic of China.We have rmly oppose unfair competition and monopolisticpractices, ensuring a fair, transparent, and honestbusiness environment. Employees are strictly prohibitedfrom obtaining competitors’ trade secrets or confidentialinformation through illegal means such as unauthorizedaccess, theft, eavesdropping, bribery, or any other illicitactivities. Additionally, false or misleading advertisingis also forbidden. At the corporate level, we ensure nomonopolistic practices are conducted regarding productionmaterials or non-patented technologies. In 2024, theGroup faced no lawsuits related to unfair competition ormonopolistic practices.

Anti-Monopoly and Fair Competition

https://cdn-web.seres.cn/uploads/20241204/03ee36cacd?d54e31337a3155345d69.pdf

In 2024, the Group had no part-time employees.

https://cdn-web.seres.cn/uploads/20241204/ad77?1fee6e16543?ba04c081e4c49.pdf

Reporting Hotline023-65179813jczb@seres.cnRoom 810A, North Building, Building 1, Seres Group O?ceBuilding, No.7 Wuyunhu Road, Shapingba District, Chongqing

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Innovation-Driven,Excellence in ProductsThe Group deeply integrates innovation-driven development with responsibility empowerment, advancing productupgrades and iterations. We protect intellectual property while ensuring product quality and safety. Additionally,we o?er diverse and comprehensive user services, uphold information security and privacy, and contribute to asustainable and intelligent automotive ecosystem.

As of the end of the reporting period,the Group had been granted a total of6,619

patents

Total cumulative investment in R&Dreached RMB

7.053

billion

representing a year-on-yearincrease of

58.91%

No product recalls occurred

Organized

quality training sessions andactivities

covering100%

of employees

Noincidents of privacybreaches or data securityviolations were reportedtrademarks

3,050

copyrights

2024 Highlights Performance

SDGs Responses

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesResearch and Innovation

Research and Innovation System

The Group regards technological innovation as the core driving force of its development. We have established a comprehensive R&D system, continuously increasing investment in technology, expanding the application ofinnovative achievements, and promoting deep industry-academia-research collaboration to explore and apply cutting-edge technologies.

We adhere to the technology strategy of “mass-producing the currentgeneration, developing the next, and pre-researching the one thatfollows,” supported by two major systems, eight intelligent platformsfor full-stack independent R&D and over ten functional departments.In 2024, guided by the (IPD)

process system, we established the“IPD Process Project Team” to focus on three core areas: platformarchitecture development, innovative technology development, andR&D engineering. This led to the release of 58 end-to-end processesand 1,008 process regulation documents, covering tasks such asplatform structure development, architecture design, validation, andtechnology development. This framework lays a strong foundationfor future product development and innovation.

IPD: Integrated Product Development.

Include R&D and technical personnel.

To foster a culture of innovation, we introduced an incentive plancombining material and non-material rewards, along with short-and long-term incentives. This approach encourages employees’creativity and innovation. In 2024, our R&D team comprised 7,117personnel

, accounting for 37.78% of total employees, with acumulative R&D investment of RMB 7.053 billion, representing ayear-on-year increase of 58.91%.Additionally, we prioritize scientific ethics training and publiceducation to strengthen ethical awareness in technologydevelopment among employees and the broader community. Thisapproach supports both technological innovation and sustainabledevelopment. In 2024, we collaborated with automakers, componentsuppliers, research institutions, and industry associations withinthe NEV value chain. Over 50 discussions and exchanges wereorganized, focusing on R&D innovation and technological ethics.Together, we are committed to fostering the healthy developmentof the NEV industry. Throughout the year, no violations of scienticethics or related penalties occurred.

In 2024, our R&D team comprised7,117

personnelaccounting for

37.78%

of total employeeswith a cumulative R&D investment of RMB

7.053

billion

Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

representing a year-on-year increase of

58.91%

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesInnovation Achievement Layout

The Group has mastered advanced intelligent manufacturing technologies, focusing on ve key areas: “intelligent architecture, intelligent power, intelligent ecosystem, intelligent testing, and intelligent processes”: Throughthis approach, we have developed a diverse range of high-quality products and created an open, interconnected intelligent ecosystem.

Launched the MF Technical Platform, a super-intelligent vehicleplatform focused on intelligent safety, diverse powertrains, flexiblespace, and intelligent leadership. It enables cross-domain softwareintegration across safety, power, and chassis systems, delivering anexceptional driving experience.

The AITO models are equipped with the ADS

3.0 and 192-line LiDAR with industry-leading detection range. The softwarealgorithms utilize Huawei’s self-developed GOD

(General ObjectDetection) and PDP

(Prediction-Planning-Decision) architecture toprovide users with an intelligent driving experience close to L3-levelautonomy.

Leveraging the “C2E Extended Range Architecture” and “RoboREXIntelligent Control Technology,” the Group developed a next-generation super-extended range system. It optimizes design andintelligent algorithm control, signicantly reducing fuel consumptionand noise, and achieving industry-leading thermal e?ciency.

Adhering to the strategy of “safety is the greatest luxury,” theGroup introduced the industry’s rst scenario-based safety system,covering over 180 safety scenarios throughout the entire vehiclelifecycle.The AITO M9 became the rst model to successfully pass the 2021version of C-NCAP

testing, with a ve-star safety certication.The AITO models active safety systems have helped avoid over 1million potential collisions, earning strong user recognition.

Innovative R&D Results in 2024

8 C-NCAP: China-New Car Assessment Program. 9

ADS: Advanced Driving System.

GOD: General Object Detection.

PDP: Prediction-Planning-Decision.

The AITO intelligent cockpit leads the industry in human-machineinteraction, connectivity, and safety. It supports the HarmonyOSecosystem and includes diverse entertainment systems andinteractive designs.Built on the software-defined vehicle concept and in collaborationwith industry partners, the cockpit o?ers features like ten screens,seamless transitions, and giant-screen movie viewing, creating animmersive third intelligent space for users.

Intelligent PowerIntelligent Safety

Intelligent DrivingIntelligent Cockpit

Intelligent Vehicle Platform

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesSeres Group’s Awards Related to Innovative R&D in 2024“Typical Case of Technological Innovation in PrivateEnterprises (Industrial Innovation Category)” and“Typical Case of Digital Transformation in PrivateEnterprises” awarded by the All-China Federation of

Industry and Commerce.

“First Prize of the First Automotive Industry Digital

and Intelligent Scene Innovation Competition”awarded by the Automotive Industry Sub-Allianceof the Central Automotive Enterprise DigitalTransformation Collaborative Innovation Platform.

“2024 Excellent Practice Unit of Digital Transformation

of Western China Enterprises” awarded by theOrganizing Committee of the Western Enterprises

Digital Development Conference.“Advanced Intelligent Factory of Chongqing”

awarded by the Chongqing Economic and

Information Commission.

“First Prize of Technological Progress”awarded by the Chongqing Municipal People’s

Government.“Second Prize of Technological Progress” awarded bythe China Society of Automotive Engineers.Intelligent Manufacturing ProcessesBy integrating “digitalization and intelligence” into new processes, theGroup uses a intelligent manufacturing platform to monitor, diagnose,and intercept critical quality points throughout production. Thisincludes over 30,000 automated quality control points and more than1,200 AI monitoring points.Established a “One Car, One File” and “One Piece, One File”management system, assigning each vehicle a unique ID to ensurefull traceability throughout the production process.

Intelligent Testing and ServiceProvides proactive, early warning, real-time, remote, and mobileintelligent service systems. Remote diagnostics cover the entirevehicle, and over 85% of fault alerts are responded to within fiveminutes.In 2024, intelligent services saved over 100,000 maintenance hoursand reduced maintenance costs by over RMB 11 million.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Case: Collaborative Innovation with Universitiesand Financial Institutions

Exchange and Training with Chongqing University of

Technology

In 2024, the Group, in collaboration with ChongqingUniversity of Technology, Sichuan International StudiesUniversity, Chongqing Ivy League High School, and PostalSavings Bank, organized multiple seminars and trainingsessions on the topic of The Current Status, Development,and Trends of New Energy Vehicles. These activities aimedto deepen the understanding of the new energy industryamong universities and enterprises, as well as to enhancethe recognition and support of the new energy vehicleindustry across various sectors of society.

The Group has participated in industry association forumsand contributed to the development of national and industrystandards. During the reporting period, the Group attendedseveral forums and seminars organized by the ChinaElectric Vehicle Hundred People’s Association, focusing ontopics related to industry policy development, contributingvaluable ideas and suggestions to national policiesand industry development. In 2024, Seres Automotivebecame a member of the “National Technical StandardsInnovation Base (Automobile) Automotive FunctionalSafety Standardization Promotion Center,” which notonly highly recognized our innovation in its automotivefunctional safety but also highlighted its role in advancingindustry standards and enhancing overall safety levels.As a member, Seres Automotive will actively engagein discussions and the formulation of functional safetystandards, further strengthening its technical capabilitiesand industry inuence.On October 11, 2024, the AITO New Luxury AutomobileTechnology Co-Creation Laboratory—jointly establishedby Seres Group’s AITO brand and the China AutomotiveTechnology Research Center (CATARC), was officiallyinaugurated in Tianjin. This collaboration aims to driveinnovation in high-end intelligent electric vehicle technologyand redefine luxury standards for Chinese new energyvehicles.

Industry-Academia-Research CollaborationThe Group is committed to driving industrial innovation and technological progressthrough active collaboration with research institutions and industry associations.We participate in national research projects, industry-academia-researchinitiatives, and standard formulation to transform scientific achievements intopractical applications, promoting the broad sharing of innovation resources andresults.In 2024, the Group, in collaboration with the National Information Center andseveral new energy vehicle companies, conducted joint research on topicssuch as Automotive Design and User Product Preferences under the IntelligentElectric Wave and Product Function and Experience Definition in the Era ofElectric Intelligence—Scene-based Tracking Surveys and Application Research.These studies provided valuable insights for product planning and design to meetevolving user needs.Additionally, the Group signed strategic cooperation agreements with topuniversities such as Harbin Institute of Technology, Beihang University,Chongqing University, Hunan University, and Chongqing University of Postsand Telecommunications. These collaborations focus on the new energy vehicleindustry, promoting in-depth integration of “industry, academia, research, andapplication” to deepen university-enterprise cooperation. In January 2024, theGroup signed a strategic cooperation agreement with Chongqing University,where both parties will collaborate in the fields of intelligent manufacturing,new energy vehicles, intelligent connected vehicles, talent development, andtechnological innovation. Together, they established the “New Energy Vehicles,”“Intelligent Connected Vehicles,” “Advanced Manufacturing,” and “AutomotiveCarbon Neutrality” Joint Laboratory at Chongqing Excellence Engineering Institute- Seres New Energy Vehicle Design Institute Co., Ltd. The partnership will alsoform research teams to explore cutting-edge technologies, address engineeringchallenges, and conduct foundational research, while nurturing outstandingengineers and enhancing cooperation in talent resources and technology transfer.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Standards FormationEAC2024 Third Automotive Seat Technology Innovation Forum: Participated as a guest speaker in theSeat Innovation round-table discussion.6th Automotive Fuel Tank System (FSA) Technical Seminar: Engaged in discussions on “Next StageEmissions,” addressing China’s passenger car energy-saving standards and factors affecting fuelevaporation emissions.Powertrain NVH

Technology Seminar: Participated in a seminar themed “Technology-DrivenSeamless Power,” covering topics like sound source identication, intelligent NVH fault diagnosis, AI-driven NVH design and optimization, sound quality, and human comfort.2024 Automotive Direct Vision Standard Research Group Meeting: Attended and delivered a keynotespeech at the meeting hosted by the National Automotive Standardization Technical Committee’sBody Subcommittee.Advanced Driver Assistance Systems (ADAS) Standards Working Group Meeting: Contributed to thedevelopment of related standards.9th Intelligent Connected Vehicle Technology and Standards Regulations Exchange Conference:

Participated in the event hosted by the China Automotive Standardization Research Institute anddelivered a keynote speech.China Electric Vehicle Academic Annual Meeting: Presented a report on “Lightweight and Safety ofIntelligent Electric Vehicles.”Digitalization and Intelligent Manufacturing Committee Event: Participated in the “Visit to AutomotiveCompanies” study event hosted by the China Society of Automotive Engineers (SAE).

Mandatory National Standard: Contributed to the development of the mandatory nationalstandard for the On-Board Wireless Broadcast Reception System, rening the technicalrequirements and testing methods for the system.National Recommended Standard: Participated in drafting the national recommendedstandard for the Automotive Structural Durability Road Simulation Test Method.China Automotive Chip Standard Testing and Certification Alliance (Group Standard):

Contributed to drafting the T/CACC JH0002-2024 group standard, On-Board SoftwareTechnology: Vehicle-to-Hand Connectivity Technical Requirements and Test Methods.Automotive Industry Standard: Assisted in formulating the automotive industry standardfor On-Board Wired High-Speed Media Transmission: 100-Megabit Full-Duplex SystemTechnical Requirements and Test Methods, improving the technical requirements andtesting methods for the system.Industry Group Standards: Participated in drafting the industry group standards for PureElectric Vehicle High Cold Endurance Driving Range Road Test Method and Light-DutyHybrid Electric Vehicle High Cold Endurance Driving Range Road Test Method.National Automotive Standardization Technical Committee: Engaged in discussions onthe draft standards for Determining the Information Priority of Passenger Car On-BoardSystems, Reflective Glare Requirements and Test Methods for Passenger Car InteriorTrim, Determining the Driver’s Seat Position for Passenger Cars, and Determining theVisibility Area of Automotive Instruments, contributing to the improvement of automotiveergonomics standards.

Major Industry Communication and Standard Formulation in 2024Industry Association Forum Activities

NVH: Noise、Vibration、Harshness.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesIntellectual Property Protection

The Group adheres to the Patent Law of the People’s Republic ofChina and Copyright Law of the People’s Republic of China, reninginternal policies such as the Technology Achievement ManagementMeasures to align with organizational and business developmentneeds, ensuring the professional and efficient management oftechnological achievements. In 2024, we introduced the PatentClassification Management Measures and the Patent ProcessManagement System Construction to implement a hierarchical,categorized approach to patent management. Differentiatedincentives are applied based on patent classication to maximize thevalue of intellectual property.To encourage innovation, we released the Patent IncentiveStandards and established a comprehensive technical innovationincentive system. A dedicated intellectual property contributionmechanism offers substantial rewards to employees withoutstanding contributions to technological innovation. Additionalincentives include instant rewards, Golden Idea incentives, honoraryrecognitions, and the naming of forward-looking research projects.This approach fosters a culture of co-creation, shared success, andmutual growth. As of the end of the reporting period, the Group hadbeen granted 6,619 patents, 3,050 trademarks, and 567 copyrights.

Intellectual Property Achievement in 2024

Newly Granted Patents

Newly Granted Trademarks

Newly Granted Copyrights

Newly Filed Patent Applications

Proportion of Invention Patents in New Applications

3,870

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

The integration of an electronic thermostat, oil cooler, andengine design signicantly saves installation space, reducesengine warm-up time, and enhances the cooling e?ciency ofthe oil cooler.

By considering the vehicle’s current torque demand and thedriver’s intention coefficient, the system precisely calculatesthe total output torque. Based on this calculation, motortorque control is implemented, optimizing torque distributionto balance immediate and expected driving needs, ultimatelyenhancing the user driving experience.

The system evaluates the impact of ambient temperatureon battery temperature and applies appropriate thermalmanagement measures to mitigate external temperatureinterference. This ensures that the battery output power meetsperformance demands in various driving scenarios.

By calculating the most efficient power distribution ratio anddisabling the asynchronous electric drive assembly whenappropriate, the system ensures optimal operation of theelectric drive system while meeting driver demands, therebyimproving overall vehicle e?ciency.

Engine Cooling System

Torque Control Method, Device, Equipment, and Storage Medium

Battery Thermal Management Method, Device, ComputerEquipment, and Storage Medium

Four-Wheel Drive Control Method and Device for Automobiles

High-value Patent Highlights in 2024

Furthermore, we conducted a comprehensive infringement riskassessment for both our independently developed patents and thoseof our partners to prevent legal violations and maintain a healthyintellectual property ecosystem. To further strengthen intellectualproperty protection and innovation, we organized training andexploration activities covering key areas such as basic intellectualproperty knowledge, patent infringement analysis, patent mining,and intellectual property recognition and awards. In 2024, the Grouphosted 49 intellectual property-related training sessions througha combination of online and o?ine methods, attracting over 4,500employees to participate.

Case: Dual Enhancement Training on “Intellectual Property Fundamentals and Mining”

Training on Intellectual Property Fundamentals and Mining

In 2024, the Group conducted multiple intellectual propertyQ&A and mining training sessions for employees in relevantfields, including the intelligent ecosystem platform, digitalapplication platform, intelligent manufacturing platform, andfactories. Through professional guidance and hands-on practice,these sessions significantly enhanced employees’ ability toidentify intellectual property, further improving the quality ande?ciency of patent applications and promoting the generation ofintellectual property achievements.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Product Quality and Safety

Ensuring Product Quality

Quality Management System

The Group integrates quality and safety principles across everystage, from product design and R&D to manufacturing. We haveestablished a multi-level control system, supported by digitalmonitoring tools, to ensure precise management of productquality and safety, providing consumers with a reliable andsecure travel experience.

We have developed a comprehensive quality control systemand established an All-Scenario Intelligent Safety System thatcombines advanced intelligent technologies with safety designprinciples, o?ering drivers well-rounded protection.

Adhering to the Product Quality Law of the People’s Republic of China and other relevant regulations, the Group has built a quality managementframework based on the Seres Automotive Quality Manual. This system integrates digital intelligence across five core areas: R&D quality,production quality, market quality, mass production quality, and supplier quality. It has developed the SiQOS

to drive the digital transformationand upgrade of full-chain quality management. In 2024, we optimized our quality management processes by adding, rening, and eliminating 141quality policies and process documents, strengthening the scientic and e?ective implementation of quality control throughout the organization.

SiQOS Quality Management System

SiQOS: Seres Intelligent Quality Operation System.

User FirstPrevention First

Digital Intelligence QualityCustomer NeedsCustomer SatisfactionInformation Flow

Organizational Structure

Strategic PlanningInfrastructure and Workplace

Quality Objective Management

Documents and Records

Human Resources Management

Correction and Prevention

Supplier ManagementInternal Audits

Management ReviewContinuous Improvement

Time Data Management

Processes and Tools

Digital Intelligence EmpowermentLuxury Safety

Serve UsersWholeheartedly

R&D Quality

System (SIPD)

Launch Quality OperatingSystem (LQOS)Market QualitySystem (MQS)

Supplier QualitySystem (SQS)

Mass ProductionQuality System (SQIP)

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesTo ensure effective implementation of the quality management system, we haveestablished a clear and structured framework. The Quality Committee serves as theprimary body overseeing product quality and safety, guiding the e?cient operation ofthe quality management system.

The Quality Committee

Quality Center

Each Business Unit

The primary responsible organization for product quality and safetymanagementIt formulates product quality and safety strategies to ensure stableoperation of product quality and safety management systems

It carries out automobile product quality and safety management inall aspects to ensure the implementation of related strategies

The rst person responsible of each unit takes responsibility forproduct quality and safetyResponsible for his or her unit’s quality assurance capabilities andproduct quality and safetyIn 2024, we continued to advance our quality management system certication e?orts,consistently improving the reliability of our product quality system. By the end of thereporting period, 100% of the Group had achieved ISO 9001:2015 or IATF 16949:2016quality management system certication.

Incoming Quality ControlProcess Quality ControlProduct Quality Management FrameworkFull Lifecycle Quality Control

Full Lifecycle Quality ControlThe Group has implemented a full lifecycle quality control system. By integrating AI monitoring, virtual debugging, and digital twin technologies,we conduct preventive testing for product quality and safety, monitor key production processes in real time, and automate critical productionsteps. This approach signicantly reduces potential quality and safety risks.

We conduct inspections on the appearance, size, performance,and functions of parts based on the Incoming Quality ManagementProcedures and inspection guidelines.For high-risk components in new energy models, we performautomated tests on wiring harnesses, battery packs, and powersystems to identify and resolve issues promptly.A traceability system, “One File for One Piece and One File for OneTruck,” has been established. This system tracks and binds keyparts—such as regulated, quality, and error-proof components—throughout the manufacturing process to ensure accurate on-siteassembly and enable barcode traceability for spare parts.

We set up quality gates and control points in processes likestamping, welding, coating, and general assembly. Any issuesidentified are automatically reported to the upper productiondepartment for immediate review and quality assurance.To strengthen quality standards, we raised water pressurebenchmarks for rain tests, expanded automated monitoringprojects, and increased spot-check frequencies for wheelalignment and air-tightness inspections.

After-sales Service Quality

A comprehensive after-sales service system is in place to provideprofessional technical support and promptly address quality issues.Through our vehicle cloud service platform, we o?er “active services”by identifying faults, analyzing data, and providing treatmentsuggestions.By leveraging big data analysis, we provide early warnings andmonitor vehicles for potential issues. This enables real-time cloudalerts and 24/7 remote monitoring across all channels, ensuring asafe and worry-free driving experience.

Each vehicle undergoes over 3,200 automated dynamic andstatic tests and nearly 1,000 items of content before delivery,covering systems like intelligent assisted driving, human-machine interfaces, and AR-HUD (Augmented Reality Head-Up Display).A combination of traditional o?ine inspections and advancedautomated testing is used to conduct high-frequency stresstests on controllers and control units, reducing the risk ofdefective vehicles reaching the market.We perform detailed hazard analysis and risk assessmentsfor the powertrain, chassis, intelligent assisted driving system,body system, and cabin system. For high-level intelligentassisted driving systems, we conduct functional safety analysisto ensure reliability and safety.

Vehicle Delivery Quality

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Low-carbon Operationfor a Green Future

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For new model development, we adopt a “V”-shaped vehicle development model. Guided by objective management, we systematicallybreak down and verify the vehicle at the system and component levels. We conduct full lifecycle quality control through “online + o?ine”methods, integrating “hardware + software” and “process + mechanism” approaches.

Quality Control of New Models

Planning initiation

Project demonstration

Project initiation

Goal determination

Clay model determination

Complete vehicle process data

Project approval

Design date releasePrototype and xture preparationTrail production and tooling preparationPilot production readiness completion

O? tooling sample approval

Pre-pilot productionPilot productionShipment reviewProject summaryProgram determination

Strategy phrase

Preliminaryplannning

Conceptual

design

Engineering

design

Designverication

Small batchtrial production

Mass productionphraseIndicatorsComplete vehicle development

System development

Part developmentLevel by levelDecomposePKOKOSDPADCPVPCOTSOKTSNSFSS

IndicatorsLevel by level

Verication

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesProduct Quality Audits

Product Recall Management

We conduct comprehensive product quality audits using both internal and external methods to ensure reliable product standards. During thelaunch of new models, we apply a “7-Step” preventive gate review mechanism, covering key points such as review planning, data collection,domain-specific review conclusions, comprehensive reviews, report alignment, gate review panel evaluations, and review committeeassessments. These seven gates provide thorough quality risk control and promote standardized gate management. During the reporting period,the Group completed 384,760 vehicle quality inspections and 3,176,850 component quality inspections, achieving a 100% external inspectionpass rate.

The Group strictly adheres to the Regulation on the Administrationof Recall of Defective Auto Products and the Measures for theImplementation of the Regulation on the Administration of the Recallof Defective Auto Products. It has established internal managementsystems such as the Product Recall Control Procedures andappointed a Chief Quality Officer (CQO). A key quality issuemanagement mechanism involving senior executives is in place toaddress critical concerns. If potential quality issues are identifiedduring production or in the market, we promptly hold specialmeetings to investigate and analyze the problems, following the GB/T 34402-2017 Safety of Motor Vehicle Product—Guidelines for RiskAssessment and Risk Control. Findings are reported to regulatoryauthorities without delay. If a vehicle defect is conrmed, the Groupimmediately suspends production and sales of the a?ected vehicles,initiates a proactive recall, and submits periodic and summaryreports in line with regulatory requirements. In 2024, the companydid not have any product recall incidents.

Internal Quality System Audits: Conducted in line with IATF

16949 standards and quality system maturity criteria, covering alloperational processes to ensure rapid issue resolution.

Process Audits: Conducted in accordance with Part Three of the

German Automotive Industry Quality Standard (VDA6.3), identifying723 issues, all of which were promptly resolved.New Project Gate Reviews: Completed 14 gate reviews throughoutthe year, identifying 179 issues with a 100% on-time resolution rate.Supplier System Audits: Conducted quality system audits for 16suppliers, providing supervision and guidance to enhance theirquality management capabilities.

Product Quality Audits in 2024

UNR156: Issued by the United Nations Economic Commission for Europe, this regulation certies software update management systems.

achieving a100%

exter nal inspection pass rate

R156

System Expansion Certification: The super

factory successfully passed the R156 system expansioncertification audit, further elevating its internationalstandards.China Compulsory Certification (CCC): All vehiclefactories passed the CCC product certification audits,ensuring compliance with national standards.Government Supervision and Inspection: Successfullypassed inspections by national ministries and localgovernment departments, confirming compliance withproduction consistency requirements.

Internal AuditsExternal Audits

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesQuality Culture DevelopmentTo promote a systematic and professional quality culture, the Group has established a Quality Academy. Regularactivities such as quality awareness campaigns, training sessions, and Quality Month events covering allemployees are carried out every year are conducted to enhance employees' quality awareness and professionalskills. These e?orts foster a culture of active quality participation across the organization. In 2024, the Group held209 quality training sessions and events, reaching 100% of employees.

Product quality training and activities in 2024

Awards related to product quality in 2024At the Joint Product Quality Reliability Innovation Conference organizedby market regulatory authorities in Beijing, Tianjin, Shanghai, andChongqing, the AITO M9 was successfully selected as a “Best Practice”for product quality reliability innovation in 2024.AITO M9 ranked rst in the new energy vehicle segment among Chinesebrands in the 2023 New Car Quality Report released by Autohome in2024.

2024 Product QualityReliability Innovation

“Best Practice”

DMAIC: DMAIC is a key tool in Six Sigma for process improvement. It consists of ve phases: Dene, Measure, Analyze, Improve, andControl, forming a structured approach to process enhancement.

DFSS: Design for Six Sigma.

Eight Disciplines Problem Solving，usually abbreviated to 8D, is also known as the team-oriented problem-solving method or 8D report.It is a methodology for identifying and resolving problems, which is commonly used by quality engineers and other professionals.

Quality Academy

6Sigma and Related Knowledge Training

8D Training

●Key Course Promotion: Launched Group-wide key course learning activities, o?ering 12 coursesto over 10,000 employees.

●Knowledge Assessments: Conducted quality knowledge assessments for 2,341 key personnel toenhance their quality awareness and expertise.

●System Knowledge Training: Provided external training on R156 standards and VDA6.3 processaudit standards, as well as internal training on basic knowledge for internal auditors and IATF16949 fundamentals.

●O?ered training courses for all quality and technical personnel, including 6Sigma DMAIC

BlackBelt, 6Sigma DMAIC Green Belt, DFSS

Green Belt, and basic quality tools. The total trainingduration reached 720 hours, attracting 1,347 participants.

●Organized both online and o?ine training sessions on 8D

tool knowledge, experience sharing,and case studies for all quality and technical personnel. The training attracted 4,580 participants.

In 2024, the Group launched its third “Quality Month” under the theme “Follow Standards,Adhere to Processes, Ensure Implementation, and Create Excellence.” The event included16 activities, such as the Excellence in Quality Campaign, practicing the “Three No Princi-

The Launching Ceremony ofthe Quality Month in 2024

ples” (No Acceptance, No Produc-tion, and No Transfer of Defects),improving dealer service quality,and the SPS Skills Competition.Through the “Seven Checks” initia-tive (checking quality awareness,quality levels, assurance systems,standard implementation, etc.), theGroup identified and addressedpotential quality risks, fostering astrong culture of quality.

Case: “Quality Month” Activity and Quality Pledge Conference

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Protect Product Safety

The Group adheres to the philosophy that “safety isthe ultimate luxury.” By adopting a product monitoringsystem that combines “hardware-software collaboration,dynamic and static testing, automated inspection, andAI technology,” we have developed a comprehensiveintelligent safety system covering nine key areas: drivingsafety, active safety, passive safety, power and energysafety, information (privacy) safety, (expected) functionalsafety, health safety, protection safety, and safetymonitoring and services. This system provides all-aroundprotection for user safety.

InformationPrivacySafety

Power andEnergySafety

Focused on real-world driving scenarios, the Group leverages professional collaboration to provide comprehensive safetyprotection for drivers and passengers.

All-scenarios Intelligent Safety SystemDrivingSafety

ActiveSafety

Comprehensive monitoring of potential collision risks with early warnings and hazard avoidance:

●Emergency Steering Assist System: The AITO M9 is equipped with an emergency steering assist system to enhancehazard avoidance and driving safety.

●Forward Automatic Emergency Braking: The AITO M9 can perform emergency braking for stationary vehicles at speeds ofup to 120 km/h.

Exceeding national safety standards for lithium battery reliability, thermal safety, and waterproof performance:

●Power Battery Testing: Batteries surpass national safety standards across all tests.Building Competitive Privacy Protection Features with Advanced Technologies, such as permission management, dataisolation, and sensitive information concealment:

●Privacy Protection: Includes multi-passenger privacy mode and safe mode (o?ine mode) to enhance user privacy.

Enhanced product safety through high-strength materials and advanced technologies:

●Ultra-Strong Body Structure: The AITO M9 body is made of 80% aluminum alloy with 12 reinforced areas using 2,000MPasubmarine-grade hot-formed steel.

●Mega Integrated Die Casting: The rear body of the AITO M9 is made using nearly 10,000 ton die-casting machine,optimizing structural integrity.PassiveSafety

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Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

SafetyMonitoringandServices

Leveraging telematics and big data algorithms for accurate risk detection and alerts such as thermal runaway, collisions,and tire blowouts:

●Real-Time Warnings and Alerts: Provides second-level responses to sudden vehicle status changes, delivering proactiveand reactive intelligent services.

●Abnormal Issue Resolution: Quickly analyzes and resolves abnormalities, automates major collision event handling, ando?ers proactive care services.

●In 2024, the Group issued 39,301 warnings, 96,436 alerts, and provided 55,111 intelligent services.

Battery Safety

Product Health and Safety

The Group continues to improve battery safety through advancedtechnology, refining cell design, system integration, and cloud-based monitoring. By incorporating a high-voltage redundantarchitecture, it has significantly enhanced battery reliability.Committed to innovation, the Group oversees the entire lifecycleof power batteries, creating a closed-loop system that supports asustainable circular economy. In 2024, leveraging its self-developedbattery cloud platform, the Group enabled real-time tracking ofstate of health (SOH), state of function (SOF), and performancedegradation. This proactive system detects early warning signs offaults, ensuring safer battery operation in vehicles. The AITO M7model was recognized as the “2024 Outstanding Model in China’sElectric Vehicle Fire Safety Index” for its exceptional battery safetyperformance.Additionally, with leading industry testing organizations to conductrigorous battery safety tests and certications, meeting all relevantstandards. During the reporting period, the AITO series maintaineda flawless record, with over 500,000 batteries in use with “zeroincidents of spontaneous combustion,” highlighting the Group’sexceptional commitment to battery safety.We prioritize a healthy cabin environment by addressing keyfactors such as low chemical pollution, in-cabin air purification,reduced electromagnetic radiation, microbial protection, andintelligent monitoring. This ensures a safer, more comfortable in-car experience. In 2024, the Group introduced a comprehensivehealth management system, launched a user health data monitoringplatform, and set an acceptance standard covering 213 healthindicators. This system enables dynamic, visual tracking of in-cabinenvironmental quality.

Health

Safety

Protection

Safety

Meeting high environmental and health standards to ensure a safe and healthy mobile space:

●Medical-Grade Health Technology: The AITO M9 is equipped with multiple advanced materials and medical-gradetechnologies, achieving triple authoritative certications for comprehensive user health protection.Prioritizing occupant safety for stability and reliability in collisions:

●Low-Voltage Electrical Safety Solution: Designed to mitigate risks such as damage to the front compartment fuse box orunlocking failures post-collision.

(Expected)Functional

Safety

Established management systems aligned with international standards:

●Functional Safety: The AITO complies with ISO 26262:2018 standards, establishing a development and managementprocess system that meets ASIL D

levels. It has also received certication from Germany’s DAkkS

, covering functionaldomains such as power, chassis, body, intelligent driving, and cabin.

●Expected Functional Safety: The AITO complies with ISO 21448:2022 standards, establishing a comprehensive expectedfunctional safety development and management system. It has also received certication from UL Solutions

, coveringautonomous driving functions and HMI

interactions.

ASIL D: Automotive Safety Integrity Level D.

Dakks: Deutsche Akkreditierungsstelle. The Accreditation Body of the Federal Republic of Germany.

UL Solution: A globally recognized authority for safety certication, aimed at ensuring product safety, reliability, and sustainability.

HMI: Human-Machine Interface.

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Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

In 2024, the AITO M9 2024 Extended Range Ultra version wasawarded the “Five-Star Healthy Car” certication by the AutomotiveHealth Joint Research Center.

As of the end of the reporting period, the AITO series models hadachieved the CN95 Healthy Cabin 5A Certification, China’s first“Health+” Certification, and the C-AHI “Five-Star Healthy Car”Certication, setting a new benchmark for “healthy cars.” Additionally,both the AITO New M7 and AITO M5 models were awarded the “ZeroFormaldehyde” car certication.In 2024, the Group established a development system for expectedfunctional safety in compliance with ISO 21448:2022, earninga certification from the internationally recognized authority ULSolutions.

Reducing In-Cabin Allergen Risks (VAR)

Integrated “Smart Clean” technologies into automotive systems,achieving a 99.9% disinfection rate and e?ectively eliminating variousviruses.Implemented intelligent fresh air technology for active purification,including parking ventilation, self-drying air conditioning, and one-clickodor removal, ensuring a cleaner and fresher cabin environment.Carefully selected materials for seats, armrests, and steering wheels toprioritize user safety, especially for individuals with skin sensitivities andchildren. The use of harmful substances was strictly prohibited.

Used eco-friendly soundproofing materials (EVA+PU), dual-component acoustic cotton, non-toxic water-based adhesives,and low-VOC liquid damping pads to replace traditional asphalt-based materials, removing harmful materials at the source. Thesee?orts reduced VOC concentrations by 35% compared to industrystandards.Established a VOC testing and analysis center to conduct rigorousVOC and Vehicle Odor Intensity (VOI

) tests from the earlydevelopment stages.Created “Golden Nose Teams” at each factory, providing specializedtraining on odor detection to ensure a consistently high standard forin-cabin air quality.

Multi-dimensional healthy cabin system

Honor and Certicate Related to Product Health and Safety

Conducted multiple rounds of EMR testing, keeping in-cabin elec-tromagnetic radiation well within the excellent range dened by theChina Automotive Health Index Management Center.Assembled a health engineering team and developed a comprehen-sive EMR analysis model, ensuring 100% compliance with electro-magnetic compatibility standards for key components.

In-cabin Health Technology InnovationLow Electromagnetic Radiation (EMR

) ManagementVolatile Organic Compounds (VOC

) Control

“Five-Star Healthy Car” Trophy“Zero Formaldehyde” Car CerticateUL Solution Certicate

VOC: Volatile Organic Compounds.

VOI: Vehicle Odor Intensity.

EMR: Electromagnetic Radiation.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

User Service System

Service SystemThe Group has optimized its user service model around ve key principles: convenience, thoughtfulness, reassurance, sincerity, and care. With apersonalized and fully integrated service approach, we maintain strict quality standards and e?cient response mechanisms in place, supported bya intelligent digital ecosystem that enables seamless, intelligent user interactions. This allows us to quickly recognize and address diverse customerneeds, ensuring a smooth and e?cient service experience. By the end of the reporting period, our proactive intelligent service system had engagedwith users over 18,000 times, reducing maintenance time by more than 120,000 hours.

Serve Users WholeheartedlyInform users proactively and prioritize free service entitlements.Provide a replacement vehicle or compensation if quality issue repairs exceeding 24 hours.A tenfold compensation for using counterfeit or substandard parts.

Free service if basic maintenance exceeds 45 minutes.Lifetime Warranty for Bodywork Repairs and 4-Year Warranty for Mechanical Repairs.Craftsmanship/Outstanding QualityExcellent CerticateManagement SystemStandards for Sheet Metal Spraying

and Mechanical and ElectricalMaintenance

Standards for Luxury Service

Experience

Strict regulations must be complied

with everything from servicepersonnel behavior standards tohardware equipment. Strict standardsare set for everything from teacups,tableware to hardware congurations.

Intelligent driving benets, supply stations,spare tire loans, return trip guarantees, andself-driving trip protection.Upgraded from a 3-level to a 3+1 qualityinspection system for repair quality andbodywork processes.

Charging days, seasonal check-ups,service days, and extended night hours.

Digital transparent workshops, transparentmaintenance, and exclusive servicegroups with a central kitchen model.

M9 club events, user co-creation activities(factory open days, extreme conditiontesting, new model experiences, volunteeractivities), and user center salons.

Seamless integration of multiple systems(DMO, EPM, App, Mini Programs) toaccurately identify and address user needs,providing end-to-end services.

Sales referral benets, long-mileage user care

benets.

Remote diagnostics and digitalpainting robotsDigital Ecosystem

Enhanced reception standards, diningservices, and hardware standards.

Exclusive User Gratitude BenetsDiverse Car-Life Co-CreationMulti-Dimensional Intelligent

InteractionWorry-free ServiceMaintenance Consistency

Assurance System

Upgraded all-scenario roadsideassistance, including spare tire

delivery services.

Intelligent SolutionsUpgraded Exclusive SpacesWorry-free Driving

Worry-free Travel

Five-Heart Service ProcessRigorous Service Quality StandardsFast Response MechanismsE?cient Training and Certication System

Wholehearted Service/Sincere

Treatment

Intelligent Empowerment/

Technology Leadership

Exclusive Experience/

Luxury ServiceServiceCommit-mentsCoreValues

ServiceSystemSupport

Pillars ofAssurance

User Service

Full Life Cycle User Service

The Group is committed to putting users rst, embeddingthis philosophy into every aspect of its service system.By providing comprehensive, professional solutions andupholding responsible marketing principles, it continuouslyenhances service quality and the overall user experience.

We have developed a multi-dimensional service systemthat leverages technology and process optimization toimprove service quality, boost efficiency, and maximizeuser value.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesLuxury Service ExperienceThe Group has established internal management mechanisms,including the Luxury Service Experience Standard Manual, tocomprehensively upgrade service standards and create a new luxuryservice experience. In 2024, we o?cially launched new luxury serviceexperience standards, covering sta? presentations, service etiquette,operational protocols, and key case studies. These guidelines wereintegrated into strict retail inspection criteria to ensure consistentexecution.We have adopted the “AITO Excellence Service Certification” asthe foundation for the luxury service experience. This certificationincludes on-site evaluations and key performance indicators acrosstwo major areas: mechanical-electrical services and bodywork-painting expertise. It assesses technical skills, work order compliance,parts and workshop management, as well as advanced metalworkingand painting techniques. To further enhance service efficiency, weintroduced specialized programs, including night service options,45-minute quick maintenance, and 8-hour express bodywork repairs.These initiatives have signicantly improved repair speed, customersatisfaction, and brand loyalty.

Service E?ciency Improvement Specic Program

Night Services45-minute Quick Maintenance8-hour Fast Bodywork Repairs

●Service Hours: After-sales service avail-able until 8:00 PM daily (9:00 PM in Xin-jiang).

●Dedicated rest areas with complimentarymeals and beverages. Users with con-rmed appointments can enjoy door-to-door vehicle delivery within a 20-kilome-ter radius.

●High-Frequency Basic Maintenance Ser-vices: Focused on the most frequentlyrequested basic maintenance items.

●45-Minute Basic Maintenance Standard:

Far exceeds that of similiar projects inthe industry.

●Minor Damage Repair Services: De-signed for common accident-related ve-hicle damage.

●Comprehensive Process and StandardsUpgrade: Improved workflow, technicalstandards, and equipment to ensureminor damage repairs are completedwithin 8 hours, providing a faster, moreseamless repair experience.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

After-sales Service SystemFor AITO users, the Group has built a comprehensive after-sales support system, covering both vehicles and core components, along with a range of premiumfree basic benets. These o?erings are regularly updated based on market trends to ensure they align with user needs. To enhance long-term reliability, wehave developed a risk management matrix that spans the entire vehicle lifecycle. Recognizing the unique requirements of new energy vehicles, we provideexclusive protection plans, including extended vehicle warranties, battery health guarantees, intelligent driving insurance, and travel assurance packages.This creates a closed-loop management model focused on “demand prediction, service anticipation, and experience improvement.”

RemoteTechnical

Service

Users can claim their rst free maintenance within 3 months of vehicle delivery, after 5,000 kilometers or 3,000 kilometers ofrange extender mileage, whichever comes rst.Users enjoy extended warranty servicesEntire Vehicle: 4 years or 100,000 kilometers, whichever comes rst.Three Electric Systems (Battery, Motor, Electronic Control): 8 years or160,000 kilometers, whichever comes rst.Range Extender: 8 years or 160,000 kilometers, whichever comes rst.Free 24/7 Roadside Assistance: From the delivery date, AITO users in mainland China receive unlimited free assistance for 4years by calling 400-008-9999. Services include spare tire delivery and other emergency support.The Group enhanced spare tire delivery and car cover services, completing 45,000 roadside assistance instances in 2024.Remote Diagnostics: For in-store repairs, technicians diagnose issues remotely before the visit, reducing repair time.Proactive Fault Monitoring: The system detects potential vehicle faults remotely, allowing service teams to contact users inadvance for timely resolution.

Free Replacement Vehicle orCompensation: If a quality-relatedrepair takes more than 24 hoursduring the warranty period, usersreceive a free scooter service orcompensation.

After-sales Rights SystemFree FirstMaintenance

QualityAssuranceService

Free ScooterService

Road Rescue

Service

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

To further improve the service experience for rst-time maintenance users, we upgraded the First Insurance Journey Blue Book to version 3.0. Thisversion establishes clear operational standards across 16 key service steps, including personalized communication (“two letters and one call”), quickinspections, and thoughtful follow-ups. Performance metrics such as follow-up completion rates, service satisfaction, and response times are directly tiedto employee compensation. This approach enhances sta? motivation and strengthens their sense of responsibility.

First Insurance Service Process

Before the rst

insurance

Preparation inadvanceJoyful welcome

One bottle of water when

getting out of the car

Introduction to theHarmonyOS vehicle system

Accurate recording

WaitingPatiently

TransparentprocessWarmfarewellsTake a photo with

automobilesWarm deliverygiftManager Escort forvehicle deliveryConvenientSettlementComparison of old

and new parts

Considerate

return visit

Professional

recording

Polite blessings

Two letters, one call and

one position

Send guidance

Store explorationguideDuring the rstinsuranceAfter the rstinsurance

Special delivery serviceTo further enhance the vehicle delivery experience,we integrated and upgraded the original AITO DeliveryScenario Standard Setup Plan 2.0 and AITO DeliveryScenario Advanced Setup Plan 1.0 into a unified AITODelivery Scenario Setup Plan 3.0. This update refinesboth basic and advanced delivery standards, allowingfor more personalized services tailored to users' diverseneeds. Additionally, we are committed to improvingterminal delivery service quality through the 2024 AITOUser Center Delivery & Service Attitude Zero-ToleranceManagement Measures. This policy defines strictservice guidelines, outlining zero-tolerance violationssuch as process non-compliance, service attitudeissues, unauthorized charges, and improper informationdisclosure. It also establishes clear assessment criteriaand disciplinary measures, ensuring a high-quality andreliable delivery experience for all users.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Centralized

Delivery

Customized Delivery Services for Holidaysor Special Occasions: Personalizeddelivery services designed for holidays orsignificant milestones, adding a sense ofcelebration and ceremony to the vehiclepickup experience.

Remote and Doorstep Delivery Solutions:

For users unable to visit the store due tospecial circumstances, delivery specialistsprovide online video inspections, remotepaperwork processing, and doorstepdelivery services, ensuring a seamlesshandover.

For first-batch deliveries or high-volumehandovers at stores, we implementcentralized invitation and deliverymethods to streamline operations whileenhancing the ceremonial aspect of theexperience.

Customized Delivery During TransportationAITO New M7 Centralized DeliveryCreative Delivery

We incorporate innovative deliveryformats, such as equestrian-themedhandovers or delivery celebrations atlawn music festivals, making the processmore fun and memorable for users.

Special Servive SystemCustomized

Delivery

HomeDelivery

CreativeDelivery

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

User ActivityTo deepen interaction and communication with users, we organized a series of activities such as seasonal events, AITO Service Days,factory tours, and user-led car club events, o?ering diverse and creative experiences. In 2024, we held 1,323 user-centered activities,9 user co-creation events (e.g., factory visits, winter badminton tournaments), and 82 user-led car club events, with total participationexceeding 60,000 attendees.

Annual User Experience Day: Recognizing users who have made notable contributions to AITO’s growth,we invite them to visit the Seres Super Factory for exclusive face-to-face meetings with executives andaward ceremonies, fostering a sense of brand pride.In 2024, we hosted 5 fun without boundaries vehicle-owner co-creation events with 200 participants.Owner Participation in Major Auto Shows: AITO owners were invited to directly engage with executives,discussing vehicle features, intelligent driving, and services.In 2024, AITO M5, M7, and M9 owners participated in auto shows held in Beijing, Chongqing, andGuangzhou.Extreme Climate Testing: Selected owners experienced AITO vehicles in deep cold, high-temperature,and high-altitude conditions, gaining hands-on insights into vehicle performance while reinforcing trust inquality.In 2024, we conducted extreme cold testing event, featuring owners of AITO M5, M7, and M9.Building a Unique Cultural System: The AITO M9 Club integrates culture, skill development, and publicwelfare, strengthening emotional connections with users.In 2024, we held four club events, including: cultural journeys to the National Museum of China, MBAexperience camps at Cheung Kong Graduate School of Business, cultural exploration in Jingdezhen, the“Porcelain Capital”, Leisure trips to Wanning, Hainan.

User Activities in 2024

Rooted in user needs and ownership value, we offer a range ofcomplimentary service benefits for high-mileage users. Theseexclusive perks encourage continued trust and loyalty in AITOvehicles, further strengthening customer satisfaction and retention.

Free Services for High-Mileage Users

Fun WithoutBoundaries Car-Owner

Co-Creation Day

Car Show Volunteer &Executive Interaction

Three-Extremes Testing& Owner-Executive

Interaction

AITO M9 Club

Free AirConditioning

Cleaning

Air FilterReplacement

BasicMaintenanceServices

Free Front/Rear WiperReplacement

Air FilterReplacement

AromaReplacement

Blocks

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesSeres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Case: Seasonal Check-Ups and AITO Service Day User Activities

Seasonal Check-up ActivitiesAITO Service Day Activities

In 2024, the Group organized four seasonal check-up events (spring, summer, autumn, and winter),attracting 132,927 users. These events provided free seasonal vehicle inspections, specialtybeverages, and check-in gifts, ensuring users’ vehicles remained in optimal condition.

In 2024, we held two AITO Service Day events, attracting 32,971 users. These events o?ered safetyinspections, check-in gifts, and exclusive service discounts, creating a diverse and engaging after-sales service experience.Seasonal Check-up ActivitiesAITO Service Day Activity

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesCustomer Satisfaction and Complaint

Satisfaction Surveys

We view customer feedback as a valuable opportunityfor continuous improvement. By closely monitoring andresponding to user needs and expectations, we strive toenhance service quality and overall satisfaction.

The Group utilizes structured internal management mechanisms, including the Delivery Satisfaction Survey Details and Service SatisfactionSurvey Details, to assess and improve the customer experience. Through platforms like the Seres Auto App and AITO App, we regularly conductcustomer satisfaction surveys covering key aspects such as delivery experience, service quality, and vehicle usage. Feedback is systematicallycollected and analyzed to generate Satisfaction Analysis Reports and Satisfaction Issue Follow-Up Tables, ensuring that customer concernsare properly tracked and addressed. In 2024, the Group achieved 97.10% service experience satisfaction, and 97.53% delivery experiencesatisfaction, which exceeded the annual target of maintaining delivery satisfaction above 95%.

Issue Review and Rectication ImplementationOne-to-one Support for Problematic Stores

Introduced a “Zero Tolerance for Service” policy and indicator-based control mechanisms to ensure the standardization andtimeliness of user services.

Conduct daily, weekly, and monthly analyses of user feedbackto accurately identify operational weaknesses. Actionableimprovement plans are developed to address issues andprevent recurrence.

Based on user feedback and satisfaction analysis, provideone-on-one online support or on-site guidance to underper-forming user centers, helping them improve service qualityand enhance user satisfaction.

Mechanism Control

Improvement Mechanism for Customer Satisfaction

In 2024, the Group achieved

97.10%

service experience satisfaction

97.53%

delivery experience satisfaction

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesSeres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Case: AITO Ranks First in Brand Net Promoter Score (NPS) and Brand Development Condence Index byLandRoads

In the second half of 2024, LandRoads conducted its sixth New Energy Vehicle (NEV) Brand Health Study, covering 67 NEV brands andgathering feedback from over 7,800 NEV owners.According to the report released in the second half of the year, AITO secured the top position in both Brand Net Promoter Score (NPS

)and Brand Development Condence Index

, further solidifying its leading position in the NEV market.

LandRoads，an automotive market research institution，provides comprehensive market information and consulting services based on automotive market data.

NPS: Measures the willingness of vehicle owners to recommend their current brand to others.

Development Condence Index: Evaluates consumers’ condence in a brand’s future growth prospects.

Complaint System

We have a structured complaint management system with clear handling rules and assessment criteria. Built on internal frameworks suchas the Complaint Handling and Appeal Process, Crisis and Emergency Notication and Response Mechanism, and AITO Vehicle ComplaintManagement Measures, this system ensures consistent and efficient complaint resolution. By standardizing complaint handling, escalation,early warnings, and closed-loop resolution across all business units, experience stores, and customer centers, we have created a visualized andsystematic approach to managing user concerns.

Complaint Handling ProcessHotline access byusers

Information collection

Customer complaint

transfer

Response tocustomer complaints

First visit within 4

hoursCustomer complaintfollow-upCustomer complaintescalationCustomer complaintenforcementThree-day closed looprevisitsCustomer complaintclosure

We collect customer feedback through a 24/7 (400) service hotlineand continuously monitor online public sentiment to understand userconcerns and suggestions in real time. To ensure e?cient responsesand resolutions, we have established clear complaint handlingprotocols, defining responsibilities and timelines for each stage ofthe process. Complaints are systematically categorized, allowing forquick identication and assignment to the appropriate departments.In 2024, we received 1,918 service complaints, all of which were100% e?ectively resolved.

1-Hour Response

4-Hour Follow-up Response

24-Hour Complaint Follow-up

Responsible Parties: User Center, Experience Store,or Complaint Handler

Responsible Parties: 400 Hotline (initial follow-up within3-4 hours after creating a work order)

Responsible Parties: User Center, Experience Store, orComplaint Handler

Complaint Handling Timelines and Responsible Parties

To maintain high standards of professionalism and e?ciency, we conduct regular training programs focused on key areas such as service roleawareness, responsibilities, user satisfaction management, and service processes. These programs are designed to enhance the skills andexpertise of service personnel, enabling them to handle diverse customer needs and service scenarios e?ectively.

Additionally, to align with new product launches and role-specic requirements, we implemented certication programs and specialized trainingusing an integrated theory-and-practice approach. These programs strengthen the expertise and performance of key personnel across variousroles. In 2024, we organized 585 specialized training sessions for sales, delivery, and service roles, with 20,838 participants.

Main Training Courses in 2024

User Service Training

The Group strictly adheres to laws and regulations such as theAdvertising Law of the People’s Republic of China and. andhas implemented a content dissemination compliance reviewmechanism to ensure marketing activities and sales practicesmeet regulatory standards. All external promotional data relatedto energy consumption, safety, and intelligent features mustbe certified by national authoritative bodies before release,ensuring accuracy and consistency in public communications.Additionally, compliant marketing is a key performance indicatorfor sales personnel, and we actively monitor consumer feedbackto prevent false advertising and excessive marketing incidents.To reinforce responsible marketing practices, we conductedspecialized training for sales, delivery, and service teams.These sessions covered market manager responsibilities, storemarketing activity management, and public sentiment handlingto strengthen compliance awareness. In 2024, we organized9 responsible marketing training sessions, involving over 360employees and totaling 8,640 training hours.

Responsible Marketing

In 2024, we organized

responsible marketing training sessions,involving over

employees

Produce DeliveryUser CareUser Service

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

●User Experience Management

●User Complaint Management

●New Delivery Process

●Delivery Satisfaction

●Satisfaction and Complaint Handling

●Service Etiquette

●Exclusive Service Groups

●User Activities and Car Clubs

●User Satisfaction Management

●User Service Process

●First Insurance Journey

●45-Minute Quick Maintenance

●Delivery Training: Conducted 128 sessions, training 2,412 participants with a total training duration of 77,184 hours.

●After-Sales Service Training: Conducted 295 sessions, training 3,905 participants with a total training duration of 124,960 hours.

●

Online Certication for Key Roles: 5,353 personnel, including delivery assurance specialists, nancial specialists, and insurancespecialists, completed online certications, accumulating 160,590 hours of online learning.

totaling8,640

training hours

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Information Safety andPrivacy Protection

Information Safety Management System

The Group strengthens its capabilities in information security anddata security management, actively conducting safety training andawareness campaigns to comprehensively enhance employees’security awareness and skills. Multiple measures are taken toensure user data security and privacy protection.

The Group strictly complies with laws and regulations such as the Data Security Law of the People’s Republic of China and the PersonalInformation Protection Law of the People's Republic of China. To ensure comprehensive information security and privacy protection, we haveimplemented a structured management system consisting of: First-level Manuals and Regulations, Second-level Procedure Documents, Third-level Operational Guidelines, and Fourth-level Form Templates. This system applies to all employees, suppliers, and third-party partners,ensuring an all-around approach to information security. In 2024, in response to regulatory updates and evolving business needs, the Grouprevised key internal policies, including the Threat Monitoring, Analysis, and Response Process and the Network and Data Security TechnicalStandards, further aligning security strategies with operational needs.To further enhance governance, the Group established a Network and Data Security Committee as the highest decision-making body forinformation security. The committee is chaired by the Group’s president, with members including heads of business units and the director ofthe IT and Network Data Security Headquarters. The IT and Network Data Security Headquarters is responsible for managing and executingdata security strategies. The director oversees all data security initiatives and regularly reports progress to the president, ensuring e?ectiveimplementation of security measures.

Network and Data Security Management Structure

Seres Group Co., Ltd.IT and Network Data Security Headquarters

IT PlanningandGovernanceDepartment

ITApplicationOperationsDepartment

IT Operations

andMaintenanceDepartment

EnterpriseNetwork andData Security

Department

ProductNetwork andData Security

Department

O?ceof DataProtection

O?cer

DigitalInnovationDepartment

ITProcurementDepartment

Special Committee on Network and Data Security

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesWe have established clear protocols for managing cybersecurity risks, guided by internal frameworks like the Cybersecurity Incident Responseand Handling Process and the Information Security Continuity Management Measures. These frameworks dene how security incidents areclassied, assessed, and addressed. To protect critical business functions, we have also developed continuity operation plans that help preventand mitigate security risks. These plans ensure systems remain operational, minimizing disruptions and maintaining business continuity.

Additionally, we conduct routine vulnerability scans and penetrationtests on critical systems to quickly detect and address potentialsecurity threats. For new systems, we have established a strict pre-launch inspection process, assigning dedicated personnel to performvulnerability scans, penetration tests, baseline checks, and dataprotection assessments to ensure system security and reliability.In 2024, we established the Seres Network Security EmergencyResponse Center (SRC

), and introduced a bug bounty programto encourage white-hat security researchers to identify and reportvulnerabilities. This initiative has improved response times andlowered information security management costs. Furthermore, byworking with cybersecurity experts and anti-hacking professionals,we have expanded our access to security insights and vulnerabilityintelligence, further strengthening our defense systems.

●The Security Emergency Response Team coordinates with relevant departments, involved units, and external partners to executeresponse plans collaboratively.

●

For Level I and Level II security incidents, regular updates on the handling progress are provided to the Group Security EmergencyResponse Leadership Team during the resolution process.

Information Security Response Mechanism

Incident Investigation Report Preparation

Coordinated Execution and Handling

Post-Incident Analysis and Improvement

https://src.seres.cn/

Event Identication and Collection

●The Security Emergency Response Team identies and collects internal and external information security incidents. Security operationsexperts determine the type and level of the incidents to ensure comprehensiveness and accuracy.

●After incident resolution, the Security Emergency Response Team drafts an information security incident report, which is nalized afterreview.

●Based on weaknesses identied during the review, responsible parties implement targeted improvements to prevent similar incidents fromrecurring.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesData Security and Privacy ProtectionWe prioritize the protection of user data and privacy through adedicated Data Protection Officer (DPO) Office and a structuredset of policies. Internal guidelines, such as the Personal DataClassification and Grading Management Standards and thePersonal Data Security Incident Response Mechanism, are updatedto strengthen compliance. Public documents like the Seres GroupMainland O?cial Website Privacy Policy

and the AITO AutomotivePrivacy Policy,

clearly define user rights regarding data access,correction, deletion, and authorization adjustments. When collectinguser data, we strictly follow the principles of minimization, necessity,and legitimacy, ensuring that only essential information is gatheredfor providing products and services. Users are explicitly informedabout what data is collected and how it is used, respecting their rightto know and autonomy.In 2024, we actively promoted the SDLC

(Software DevelopmentLife Cycle) mechanism, implementing the Privacy by Designconcept, and integrating data security and privacy protection into theearliest stages of system and product development to protect userprivacy rights.

Implement a strict data accessmechanism, granting permissions basedon the principles of “separation of dutiesand least privilege” to minimize risk.

Implements data masking andencryption for sensitive information,ensuring security during transmissionand storage.

Require employees to sign CondentialityAgreements and Network andData Security Commitment Letters,clearly dening their obligations andresponsibilities regarding user informationcondentiality.

Employees’ Data Security Management Mechanism

https://auto.seres.cn/privacy

https://aito.auto/privacy/

SDLC: Software Development Life Cycle

For personnel handling core data, we enforce strict security protocols to ensure proper and compliant handling of sensitive information. Forthird-party partners such as suppliers, we rened the Supplier Network and Data Security Management Standards to reect real-world businessneeds. Security performance is now a key requirement for partnerships, with clear obligations and regular post-collaboration security evaluationsto maintain high data protection standards. In 2024, the Group experienced no privacy breaches or data security violations.

Strict Permission ManagementData Masking and EncryptionCondentiality Agreements

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

The Group has established a comprehensive data securitymonitoring mechanism, regularly conducting data security auditsto promptly identify and address potential security risks. In 2024,audits were performed through system reviews, special audits, androutine inspections. Any identified issues were promptly reported,and corrective actions were required to ensure no major security orcompliance gaps.

Assessed physical environment security, information systemsecurity, endpoint security, and supplier network and datasecurity management.

Included physical environment inspections, security baselinereviews, weak password checks, and data leakage preventionaudits, ensuring continuous risk mitigation.

Targeted high-risk areas, with a focus on account permissioncontrols and other critical security measures.

Information Security Management System Internal Audit

Safe Audit in 2024

Information Security and Privacy Protection PromotionTo further enhance employees’ awareness and skills ininformation security, we conducted a variety of online and o?ineactivities. These included cybersecurity and privacy protectioncampaigns, interactive quizzes, and information security drills.These activities provided a practical and engaging way foremployees to understand the importance of data protection andhow to apply security best practices in their daily work. In 2024,we organized 14 information security drills.Additionally, we reinforced security awareness by sharinginformation security tips through internal office software,providing network and data security resources on online learningplatforms and, displaying information security awarenessposters across o?ce locations.In 2024, the Group organized 58 training sessions coveringtopics such as network and data security, personal informationprotection, and security skill development. These sessionsreached 82,316 participants, totaling 290,416 training hours,achieving 100% employee participation in information securitytraining.

Case: “Protect Privacy, Deliver Trust” First PrivacyProtection Promotion WeekIn 2024, the Group held its first Privacy Protection AwarenessWeek, utilizing both online and offline formats to attractsignificant employee engagement. This initiative furtherenhanced employees’ understanding of the importance ofprivacy protection and strengthened the Group’s overall privacyprotection capabilities.

achieving

100%

employee participation in information security training

Special Inspections and Audits

Routine Security Checks

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Case: Information Security Attack&Defense DrillsIn 2024, the Group organized 14 information securityattack and defense drills, covering scenarios such asdata breaches, phishing emails, and cybersecurity attackand defense simulations. These activities clarified theemergency response roles and responsibilities of relevantparties during security incidents. The drills achieved a 0%target compromise rate, fully validating the effectivenessof the Group’s security protection system in real-worldscenarios.

Awarded as a “Benchmark Enterprise” inthe “Shielded Vehicle Network” Initiative forVehicle Network and Data Security

Awarded as an “Outstanding Blue Team”in the “Shielded Vehicle Network” VehicleNetwork Attack and Defense Drill

The Group’s Awards Related to Information Security in 2024

Information Security Emergency Response Drill

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Low-Carbon Operations,Green FutureThe Group is committed to utilizing its strengths in product technology and industrial chain. We actively explore anddevelop low-carbon technologies and products, and embed green and low-carbon principles throughout the entireproduct life cycle. We identify climate risks actively and pursue opportunities for sustainable growth. Through eco-friendly design, sustainable materials, cleaner production, e?cient logistics, and responsible o?ce practices, wesupport the low-carbon, sustainable development of the automotive industry.The calculation of carbon emissionsacross the whole product life cycle andper-unit mileage carbon footprint covers100%

of productsNewly obtained green factorycertication

subsidiariesInvestments in advanced energy-savingand environmentally friendly processesand equipment exceeded RMB

3.0

billion28 energy-saving retrot projectswere implemented across all factoriesthroughout the year, resulting in acumulative reduction of

4,096.8

tons of CO

Procurement of recyclablepackaging materials forvehicle manufacturing100%

Year-round water savingsfrom water reuse127,440

tonsImproving energy e?ciencymore than10%The year-on-year carbonemission intensity per unit in2024 decrease by

16.85%

In 2024, the Group completed theconstruction and grid connection ofa 102MW photovoltaic project, witha total annual photovoltaic powerconsumption of

74.8289

million kWhGreen electricity from the grid

20.05

million kWhRenewable energy use as a percentageof manufacturing energy use

25.7%

Annual employee travel carbonreduction through green ights andother low-carbon travel

811.3

tons of CO

2024 Highlights Performance

SDGs Responses

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Climate Change Response

Governance

Strategy

Clean Technology Strategy

Climate change is reshaping the global environment,economy, and society in profound ways. We are committedto supporting the national “dual carbon” goals by takingaction based on the four key areas outlined in the IFRSS2 – Climate-Related Disclosures: governance, strategy,risk management, and metrics and targets. Our approachis designed to strengthen climate resilience while drivingsustainable business growth.

The Board of Directors assumes ultimate responsibility forclimate change governance.The ESG Committee under the Board of Directors is responsiblefor reviewing the Group’s climate change-related objectives,strategies and management policies, and reviewing andmonitoring the implementation of climate change-relatedinitiatives.The Carbon Neutrality Task Force, led by the assistant vicepresident of the Group, consists of management representativesfrom the planning strategic headquarters, the supply chainsystem and various technical systems.The Carbon Neutrality Task Force is responsible for organizingthe coordination, implementation and scheduling of workplans for carbon peak and carbon neutrality and promoting theimplementation of climate strategy-related matters.

We have established a three-tier climate governanceframework covering governance, management, andexecutive levels. This structure ensures effective oversightand implementation of climate-related initiatives. The Boardof Directors holds ultimate responsibility, providing strategicdirection and comprehensive oversight for all climategovernance matters.

Responding to the global shift toward energy transformation,we actively pursue opportunities in clean energy and focus onadvancing product and technology upgrades. We continuouslywork on carbon inventory assessments and reduction plansto support the growth of a low-carbon, sustainable renewableenergy vehicle ecosystem. Our goal is to contribute to agreener future.

Clean technology is a key driver of our business growth. Wepromote its adoption through both product development andproduction practices. On the product side, we are expandingour renewable energy vehicle portfolio, focusing on hybrid andpure electric models to meet rising market demand. In 2024,renewable energy vehicle revenue contributed more than93% to the Group’s total revenue. On the production side, wefollow the principles of being “green, low-carbon, circular, andintelligent.” We work closely with partners across the supplychain to reduce the carbon footprint of our products. In 2024,we set a cleantech investment target of over RMB 7.0 billionand have met our goal.

GovernanceLevelManagementLevel

ExecutiveLevel

Climate Governance Structure

In 2024, we set an investment target ofmore than RMB

7.0

billion

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesLow-carbon industrial chain layout

To promote low-carbon technology and a carbon circular economy, Seres Group is exploring advanced elds like AI-driven energy saving, low-carbon materials, integrated die-casting, high-e?ciency range extenders, andintelligent driving. We are also exploring innovative business models, including virtual power plants, renewable energy trading, carbon sinks, and carbon credits. These e?orts form the foundation of our comprehensive anddiversied green development strategy.

●We collaborate closely with leading technology partners like CATL, Wencan,and Huawei to drive the research, development, and application of low-carbontechnologies. From raw material sourcing to technical support, we ensure that greeninnovation is integrated throughout the entire product life cycle.

●Sustainable development targets are set for all suppliers, covering key areas such asthe percentage of green electricity used, the proportion of recycled materials, carbonemission intensity, and energy consumption per product unit.

●

47.5% of our suppliers have adopted renewable energy for production, surpassing the

2030 target. In 2024, signicant reductions in carbon emissions have been recordedamong key suppliers, including zero-carbon production for battery suppliers, a 44.14%drop in carbon emissions for electric drive suppliers, a 57.6% drop in carbon emissionsfor seat suppliers, a 5% drop in carbon emissions for glass suppliers, and a 21.4%drop in carbon emissions for wheel suppliers.

●We conduct assessments and evaluations based on the Green Supply ChainEnvironmental Management Assessment Form. Carbon emission performance is akey criterion for assessment and contract decisions and suppliers that meet carbonreduction targets receive additional points in procurement appraisals.

●Our production strategy is guided by thephilosophy of "green and low-carbon."We invest in industry-leading, energy-efficient, and eco-friendly equipment tobuild sustainable production lines andempower green products. In 2024, weintroduced over 14 advanced energy-saving processes and technologies,such as the die-casting process, B1B2

process, and water reuse systems.These initiatives involved an investmentof over RMB 3.0 billion, resulting in a10% increase in energy e?ciency.

●Please refer to “Green Production” fordetails.

●We focus on enhancing product energyefficiency, optimizing power systems,and reducing emissions. Our intelligenttechnology platform, DE-i

, enables lowenergy consumption, high efficiency,extended range, and high performance

.In 2024, the user charging mileagewas 4.64 billion kilometers, and carbonemission reduction was 1.022 milliontons.

●We continuously expandrenewable energy productseries, achieving dual-trackdevelopment of extendedrange and pure electricvehicles advancing bothextended-range and pureelectric models to meetdiverse market demands.

Upstream SupplyProduction and ManufacturingDownstream UtilizationProduct Line Layout

B1B2：

A type of automobile painting process, which involves applying top coat B1 → top coat B2 → moisture pre-drying → clear coat → clear coat drying.

DE-i: Dedicated Electric Intelligent, a super electric drive intelligent technology platform.

Please refer to the Group’s 2023 ESG report P42 for details, https://cdn-web.seres.cn/uploads/20241011/a5328069e03f72923d6fde0efccafcab.pdf.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesCarbon Inventory and Carbon Footprint AccountingTo better manage the full life cycle carbon footprint of ourproducts, we have fulfilled multiple functions includingcorporate carbon inventory, per vehicle parts carbon footprintaccounting, and internal carbon target management bydeveloping a digital carbon management platform. Our carboninventory system connects with the energy managementsystems of all factories, enabling real-time monitoring ofcarbon emissions and energy use. This serves as a criticaltool for evaluating internal carbon performance. The carbonfootprint management system integrates with the supplierprocurement system, allowing us to collect the information ofcarbon emissions and energy consumption at supplier sites.This serves as a critical tool for e?ective assessing upstreamsupply chain carbon emissions and energy consumptionperformance. At the same time, the carbon footprint systemhas established various accounting models to calculate thecarbon footprint of products and components throughouttheir life cycles, generating detailed carbon footprint reports.We continuously monitor site-specific supplier emissions, thepercentage of renewable energy usage, and the proportionof low-carbon materials. Carbon footprint managementrequirements have been integrated into procurement standardsfor key components to encourage low-carbon transformationacross core parts. In 2024, we optimized the digital carbonmanagement platform for multiple times. These upgrades havebeen certified by third parties, continuously empowering ourcarbon emissions and carbon footprint management.

Carbon Footprint of Core Products throughout their Life Cycles

The Group has conducted carbon inventory and product carbon footprint assessments using its digitalcarbon management platform. As of the end of the reporting period, we completed our annual carboninventory in line with the ISO 14064:2006 standard. This assessment covered the entire Seres Group,including Seres Auto, Seres Automobile (Hubei), Xiaokang Power, Jinkang Power, and XiaokangParts. Carbon footprint calculations have been completed for 100% of our products.

* The carbon footprint label is based on the notication and disclosure information from the China Automobile Industry ChainCarbon Publicity Platform (CPP).Digital Carbon ManagementPlatform Certications

Vehicle Mode

Carbon Emissionsthroughout Life Cycles

（kgCO

e）

Product Carbon Footprintper Unit Mileage

（gCO

e/km）

CPP Platform*AITO M5 EVR39,192261.28AITO M5 EV33,173221.15AITO M7 Pro42,199281.33AITO M7 Ultra41,943279.62AITO M9 EVR46,095307.30AITO M9 EV47,103252.04E535,057233.71

Carbon Rating Label

Level 1Low Carbon+

Carbon Rating Label

Level 1Low Carbon+

Carbon Rating Label

Level 1Low Carbon+

Carbon Rating Label

Level 1Low Carbon+

Carbon Rating Label

Level 1Low Carbon+

Carbon Rating Label

Level 1Low Carbon+

Carbon Rating Label

Level 1Low Carbon+

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesRisk managementWe actively address the challenges and opportunities of global climate change by integrating climate-related risks into the Group’s overall risk management system. Through a systematic approach, we identify, assess, andmanage these risks and opportunities. This strengthens our climate resilience while enabling us to seize new growth opportunities.

Climate-related Risks and Responses

Risk NameRisk DescriptionResponse MeasuresPolicy Risk

●

Global and local governments may introduce stricter environmentalregulations, such as carbon emission limits and emissions tradingsystems, increasing corporate compliance costs.

●Regulations on energy use and emissions could impact raw materialprocurement, production processes, and other operations, leading tohigher operating expenses.

●Strengthen the management framework of the Carbon Neutrality Task Force, with clearly definedresponsibilities. Continuously monitor policy changes, assess potential impacts, and develop proactiveresponse plans.

●Enhance emissions compliance management by promptly adjusting production processes and energyuse, avoiding unnecessary costs and mitigating risks.

Technical Risk

●

The rapid advancement of low-carbon technologies may reduce themarket competitiveness of existing technologies and products.

●High R&D costs for new technologies can create nancial pressure in theshort term, particularly before these technologies are fully developed andgenerate returns.

●Increase investment in R&D for clean and renewable energy technologies to strengthen innovationcapabilities and ensure that existing technologies stay competitive and aligned with industry trends.

●

Establish a technology early warning system to closely monitor market and technological changes.Plan proactively for technological upgrades and seek partnerships to share R&D resources.Market Risk

●Increased consumer awareness of environmental issues is driving higherdemand for low-carbon products, while traditional high-carbon productsface a shrinking market.

●Actively develop renewable energy vehicles to meet the growing demand for green products.

●Strengthen market research to track industry and consumer trends, ensuring product lines remainexible and adaptable to changing market needs, and enhance brand marketing and promotion.

Reputational Risk

●Public and investor concern over corporate environmental performanceis rising. Companies that fail to fulfill social responsibilities or responde?ectively to climate change may face criticism and reputational damage.

●Enhance ESG information disclosure by regularly sharing the Group’s environmental goals,achievements, and future plans to strengthen transparency and build trust.

●Actively engage in social responsibility initiatives, including public welfare and environmentalprotection projects, to enhance brand image.

●Participate in climate response conferences and dialogues to promote green and low-carbon practiceswhile enhancing the inuence of our renewable energy products.

Transformation Risk

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesSeres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Risk NameRisk DescriptionResponse Measures

Acute PhysicalRisk

●Extreme weather events, such as typhoons, floods, and snowstorms, candisrupt production facilities and supply chains, a?ecting operations and causingproperty damage.

●Infrastructure damage, including transportation networks and power supply,can lead to production delays, impacting product delivery and reputation.

●Strengthen risk assessments and implement emergency response plans and drills to ensure rapid actionand minimize losses during extreme weather events.

●Upgrade infrastructure and adopt disaster-resistant equipment and facilities to ensure stable operationsand reduce disaster-related impacts.

Chronic PhysicalRisks

●

Long-term climate changes, such as rising temperatures, sea levels, anddroughts, may affect resource stability and disrupt supply chains, leading toproduction constraints.

●

Resource scarcity and increasing production costs can impact operationale?ciency, product pricing, protability, and market competitiveness.

●Assess the long-term effects of climate change on production bases and supply chains. Plan foradjustments and select resilient, environmentally friendly supply chain pathways.

●Continuously monitor climate trends, optimize resource efficiency, and promote the use of greentechnologies and sustainable materials to reduce production costs and environmental risks.

Physical Risks

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesSeres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Opportunity

Name

Opportunity DescriptionResponsesProducts and

Services

●

Growing demand for green consumption, alongwith supportive national policies, is creating greateropportunities for the development of renewable energyvehicles. We can increase market share by launchinginnovative and competitive renewable energy vehicleproducts.

●Increase R&D investment to enhance the technical performanceand range of renewable energy vehicles. Develop a diversiedproduct lineup to better meet evolving market demands andstrengthen market appeal.

ResourceE?ciency

●Improving resource utilization and recycling can reduceproduction costs while generating environmentalbenefits by minimizing waste emissions and resourceconsumption.

●Optimize production processes to enhance the efficient useof energy and raw materials, lowering unnecessary resourceconsumption and reducing production costs.

●

Promote the circular economy model by increasing recyclingand reuse rates throughout the product life cycle, reducingwaste emissions and minimizing environmental impact.

EnergySource

●

Adopting renewable energy sources like solar andwind helps reduce carbon emissions, enhance ourenvironmental image, and mitigate risks from potentialfuture energy price uctuations.

●Increase investment in renewable energy projects to graduallyreplace traditional energy sources. Reduce overall energyconsumption and carbon emissions, further strengthening theGroup's green image.Capital Market

●The rise of global green nance o?ers better nancingopportunities and preferential policies for companiesusing clean energy. We can leverage this trend to attractinvestment and optimize capital costs.

●Strengthen ESG performance by enhancing transparency andbuilding investor trust, attracting long-term green investors.

●Actively apply for green bonds and nancing for environmentallyfriendly projects. Utilize green financial products to lowernancing costs and secure greater capital support.

Climate-related Opportunities and Responses

Metrics and targetsWe have established a scientic system for climate change indicatorsand targets, driving our green and low-carbon transformation. Thisincludes assessing key indicators like carbon emissions and productcarbon footprints, alongside setting targets for carbon emissionintensity and clean energy utilization. In 2024, the Group investedRMB 770 million in energy-saving and emission reduction actions.We continue to promote emissions reduction strategies withclear, target-oriented actions. Our 2030 climate-related goalsinclude reducing product carbon footprints, increasing renewableenergy usage, and cutting supplier emissions, covering Scope 3greenhouse gas emissions. In addition, we have introduced a newthree-year carbon reduction target for 2025–2027 to further refineour low-carbon development path. In 2024, through initiatives likephotovoltaic construction, energy-saving upgrades, green officepractices, and the development of a green supply chain, the Groupreduced its carbon emission intensity by 16.85% compared to 2023.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Reduce carbon emission intensity per vehicle by 14%Incorporate carbon footprint management requirementsinto procurement standards for key parts and components.Implement carbon reduction initiatives for core raw materi-als, including automotive steel and aluminumPromote green and low-carbon manufacturing by develop-ing “photovoltaic + energy storage” car-making processes.

Maintain the carbon emission intensity per vehicle at2025 levelsEstablish a carbon control indicator system coveringthe entire product life cycle. Develop a green and low-carbon supply chain management system.Advance green manufacturing transformation, includingprocess optimization, lighting upgrades, green logistics,and intelligent energy and carbon management.

Carbon emissionintensity per vehiclewill decrease by 17%compared to 2024

Three-year Carbon Reduction Targets from 2025 to 2027202520262027

Category UnitDataScope 1 Greenhouse Gas Emissions tCO

e88,690.29Scope 2 Greenhouse Gas EmissionstCO

e183,534.44Scope 3 Greenhouse Gas EmissionstCO

e69,946.82Total Greenhouse Gas EmissionstCO

e342,171.55Greenhouse Gas Emission Intensity

tCO

e /RMB 10,000revenue

0.02

Greenhouse Gas Emissions in 2024

The Group was selected as the “Climate-friendlyEnterprise Project Case” in the Pearl Cup for itsexceptional performance in addressing climatechange.

Climate-related Targets

Compared with 2022,the carbon emissionintensity of products willbe reduced by more than

38%

Renewable energyuse as a percentage ofmanufacturing energy use30%Proportion of suppliersmeeting green supplierrequirement

100%

Proportion of suppliers usingrenewable energy

40%

Supplier carbon emissionswill be decreased by25%

Strive for carbon neutrality in production and operationsStrive for near-zero emissions throughout the product life cycle

By 2030，

By 2045,

Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Low-carbon Design of the Whole Vehicle

Green DesignTo shape the future of intelligent travel, we drive innovation in low-carbon and lightweight design, promoting sustainabledevelopment for both the Group and society through green designs.Low-carbon design

Committed to the “green, low-carbon, circular and smart” philosophy, we have adopted various low-carbon designs in R&Dand recycling, achieving the goal of clean technology development.

We lead the development of a dual-layer ow air conditioning system, saving 30–40% more energyper vehicle compared to conventional systems during winter heating.

We continuously optimize range extender performance, improving internal combustion engine thermale?ciency and reducing carbon emissions.In 2024, we successfully conducted a pre-research on wireless charging solutions using advancedmagnetic resonance technology. Integrated with the automatic parking system, this solution enablescontactless charging, reducing wear on physical interfaces and extending vehicle lifespan.We optimize the exhaust purification system to minimize hazardous gases and greenhouse gasemissions.

E?cient AirConditioningSystem

This integrated design reduces overall vehicle weight and energy consumption, enhancing e?ciency.

Seven-in-oneElectric Drive

AssemblyE?cient Range

Extender

Wireless

Charging

Technology

We promote the use of vehicle-to-grid (V2G)

technology in renewable energy vehicles, enhancingthe e?cient application of clean energy.Energy Storage

EquipmentExhaustEmissions

V2G: Vehicle-to-Grid.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesLightweight design

Following the principle of “precise material application, ultimate optimization, and extreme balance,” we explore innovative lightweight solutions throughmultiple approaches. These include leveraging previous design experiences, benchmarking against core competitor models, collaborating with suppliers,and conducting pre-research on industry-leading technologies. Our goal is to enhance energy e?ciency and conserve resources while maintainingperformance and safety standards. In 2024, we advanced our lightweight design e?orts by proposing over 1,500 solutions. Notably, we introduced oneindustry-rst and ve company-rst lightweight solutions in the implementation of model projects.

Lightweight Design Optimization

Lightweight target

●We actively study advanced high-strength steel, lightweight alloys, andadvanced non-metallic materials, such as 1,700 MPa thermal formedsteel, 7-series aluminum alloys, and low-density high-performancecomposite materials.

●2GPa thermal formed steel bumper beam contributes to acomprehensive weight reduction of about 13%.

●Aluminum alloy front subframe contributes to a comprehensive weightreduction of about 25%.

●

Aluminum alloy threshold beam contributes to a comprehensive weightreduction of about 25%.

●Aluminum alloy front-end cover contributes to a comprehensive weightreduction of about 40%.

●Magnesium alloy seat frame contributes to a comprehensive weightreduction of about 25%.

●High-end LGF

reinforced materials for steel being replaced withplastic contributes to a comprehensive weight production of about 30%.

●We actively study new forming and joiningprocesses, such as semi solid forming,thermoforming，and F-SPR

●Thermal formed TWB

A/B pillars contributeto a comprehensive reduction of about 10%.

●Semi solid forming CCB

contributes to acomprehensive weight reduction of about10%.

●Integrated die casting contributes to acomprehensive weight reduction of about30%.

●TRB

bumper beam contributes to acomprehensive weight reduction of about10%.

●We actively study newCAE

optimizationmethods for thinner-walled and integratedoptimization, such asAI-predicted thresholdbeam structureoptimization.

●We apply theglobally leadingnearly 10,000 tonsintegrated die-castingmachine to e?ectivelightweighting.

Material Optimization Process Optimization Structure Optimization

Case：

AITO M9 Xuanwu Lightweight BodyThe Xuanwu body of the AITO M9 is developed by theCompany’s first internally built integrated die-castingaluminum alloy design and simulation platform. It isthe largest integrated die-cast body structure globallyand won the “Aluminum Structural Component ofthe Year” award at 2023 North American Die CastingExhibition. AITO M9 body adopted a one-piece andintegrated die-casting design, reducing the use of 212parts and 1,440 connections between parts. Torsionalstiffness of the Xuanwu body increases by 24% withthe lightweight coe?cient as low as 2.02. While leadingin lightweighting, the Xuanwu body also meets theindustry’s top standard for structural safety.

LGF: Long Glass Fiber Reinforced Polypropylene, automotive module carrier material.

F-SPR: Friction Self-Piercing Riveting, a welding technology.

TWB：

Tailored Welded Blank, a variable cross-section thin plate used for car body manufacturing.

CCB: Cluster Control Board, an important part of the dashboard assembly.

TRB：

Torsion Beam Rear Suspension, a suspension form widely used in small cars.

CAE：

Computer-Aided Engineering.

By 2030, raw materials will reduce weight by over10%

compared to 2022.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Green MaterialsDriven by the principle of sustainability, we prioritize green material procurement and development for all core materials. We actively promote the use of eco-friendly materials and work closely with suppliers to reduce rawmaterial carbon emissions.Green Material Application

Green Material Application

●We integrate carbon footprint managementrequirements into procurement standards for keycomponents, promoting the low-carbon transformationof core raw materials (automotive steel and aluminum).

●We adopt advanced, eco-friendly materials in vehiclecabins, including solvent-free leather, aqueousadhesives, and paint-free materials, to reduceemissions during material production.

●A material approval library has been established toprioritize the use of approved materials during productdevelopment and design. This approach enhancestransparency, shortens material development andverication cycles, and minimizes resource waste fromsample production.

Raise the Ratio of Green Materials Used

●

We recycle raw materials, such asaluminum alloy o?-cuts and drainageopenings, to maximize the carbonreduction benets of aluminum usage.

●

Advanced testing technologies areintroduced to ensure the qualityand sustainability of recycled rawmaterials, promoting high-qualityrecycling and reuse practices.

●AITO M9 achieved an averagerecycling rate of 97% and an averagereusability rate of 93%.

●We collaborate with multiple raw material suppliers todevelop green materials, such as bio-based materials,advanced high-strength steel, recyclable aluminum, heattreatment-free materials, recycled plastics, and naturalbers. Additionally, we actively explore the application ofthese materials when developing new products.

●Corporate standards, including the PCR

ConsistencyManagement Specication, material approval standards,and test outlines, have been established to ensure thequality and consistency of green and low-carbon PP

materials.

●Several bio-based material suppliers have beencertified. Currently, over 30 grades of PCR materialsand more than 10 grades of bio-based materialsfrom multiple suppliers are nearing the completion ofdevelopment and verication.

Promote Tests and Utilization ofRecycled Materials

Cooperate with Suppliers to Develop

Green Materials

●We strictly comply with the re-quirements of environmentalprotection laws and regulationsand have updated and publishedSERES-QA-COP2-06-10 Man-agement Measures for BannedSubstances, Recyclable Utiliza-tion and Vehicle Dismantling, pro-viding standardized guidance forthe consistent control of bannedsubstances and recyclable prod-ucts.

Strict Management of Hazardous

Substance

PCR：

Post-Consumer Recycled Plastics，which refer to recycled plastics after being consumed and used.

PP：

Polypropylene, one of the most commonly used plastics.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesGreen ProductionThe Group is committed to establishing a comprehensiveenvironmental management system, enhancing green productionacross energy, water, and exhaust emission management. Weprioritize environmental compliance and actively work to minimizethe environmental impact of our production processes.

We ensure strict adherence to environmental laws and regulations,maintaining legal and compliant production and operations. Wecollaborate with our suppliers, employees and other partners torealize our green goals.

Environmental Compliance Management

The Group strictly adheres to the Environmental Protection Lawof the People's Republic of China and other related laws andregulations and has formulated a range of internal managementsystems, such as the Measures for Pollution Prevention and ControlManagement. In 2024, we signed the 2024 Target ResponsibilityDocument of Health, Safety, Environmental Protection, andFire Fighting with all employees. Responsible individuals areassessed based on the type, severity, and impact of incidents, withassessment results directly linked to performance evaluations.The Group actively conducts external environmental impactassessments and environmental management system certication.During the reporting period, 100% of our own factories obtained ISO14001 environmental management system certication.

Environmental Management System

We at Seres Group have formulated the Environmental EmergencyResponse Preparedness and Environmental Emergency RiskAssessment Report, which are continuously updated and filedto ensure a comprehensive emergency response capability. Wegrade sudden-onset environmental accidents into three levels:

severe (Level-I), moderate (Level-II) and general (Level-III) withcorresponding response plans tailored to each level. Meanwhile,with continuous efforts made to improve environmental riskassessment mechanisms, we can engage in, more systematically,risk assessments, identification of risks that may cause suddenenvironmental pollution, and detailed risk prevention and emergencyresponses so as to minimize sudden-onset accidents at the source.

Environmental Emergency Management

●Waste gas, wastewater and noise dischargemeet the standard 100% and solid waste legallydisposed of100%

●Environmental information application (filling),monitoring, and disclosure100%

●Environmental pollution incidents (accidents)occurred

2024 environmental managementobjectives have been achieved

Environmental Management Objectives:

In 2024, the Group organized

environmental emergency drills with a total of

participants

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Emergency Management Detection and Identication of Potential Hazards

Roles of Environmental Emergency Response Team

The Response Team was built in each production unit, whois responsible for organizing environmental risk assessmentsand emergency response actions, comprehensivelyidentifying potential environmental hazards and the levelthereof, and determining environmental risk prevention andcontrol measures.

Well-designed actions were taken to detect and identifypotential environmental hazards. A leading director in eachproduction unit was selected to engage in its own hazarddetection and identication.

Case：

Phoenix Intelligent Factory Conducts Sudden Environmental Incident Emergency Drill

On November 1, 2024，Seres Automobile’s Phoenix Intelligent Factory, together with Shapingba District Government, Shapingba DistrictEcology and Environment Bureau, High-Tech Zone Management Committee, Phoenix Town Government, Qingfeng Scientic InnovationCity Enterprise Center and other units jointly conducted the “Sudden Environmental Incident Emergency Drill”. This drill covered incidentreporting, on-site alert, personnel evacuation, pollution control, environmental monitoring, and restoration, all of which were closely linkedto reinforce a solid defense for safeguarding regional environmental safety.

The Group offers a wide range of training related to energy conservation and carbon emission reduction for environmental promotion andeducation, which aims to cultivate employees’ awareness of environmental protection. In 2024, we organized more than 60 training sessions onenvironmental protection with more than 5,000 participants.Training on Environmental Protection

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

We strictly observe the Energy Conservation Law ofthe People's Republic of China and other laws andregulations. We have established energy managementpolicies such as the Energy Management Measuresand the Factory Whitelist for Electricity ManagementSystem. Through our energy management platform,we continuously refine and enhance the Company’senergy management practices.

We actively promote energy-saving renovation projects in our factories toeffectively reduce energy consumption. These initiatives include modifyingproduction lines, upgrading facilities and equipment, and optimizing lightingsystems.

We actively promote the use of clean energy by implementingphotovoltaic power generation projects across multiple factories,supporting the Company’s low-carbon transformation. As of theend of the reporting period, had invested RMB 588 million inphotovoltaic projects, achieving a total installed capacity of 102 MW.The cumulative power generation reached 74.83 million kWh, with

20.05 million kWh was consumed by purchasing contracted green

electricity and green certificates. For the whole year, the Group'suse of produced green electricity by the Group could save 11,660.75tons of standard coal and reduce 78,940 tons of CO

emissions.

Energy managementEnergy-Saving RetrotClean Energy Use

Energy consumption goal: An annual target ofdecrease in energy consumption per vehicle year-on-year by

In 2024, the Company’s energy consumptiondecreased by

45%

compared to 2023

2024 Energy-Saving Retrot Programs and E?ectiveness

Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

●The energy-saving retrofit project for process cooling water in thecoating workshop can reduce 1,367.8 tons of CO

per year.

●The air compressor cooling water retrot project can reduce 292 tonsof CO

per year.

●The factory equipment deep shutdown energy-saving project canreduce 825 tons of CO

per year.

●The factory compressed air pipeline valve replacement with electriccontrol ball valve retrot project can reduce 203 tons of CO

per year.

●The streetlight energy-saving retrot project can reduce 112 tons ofCO

per year.

●In the drying room in the coating workshop, the burner retrot projectcan reduce 312 tons of CO

per year.

●The factory lighting and non-production period optimization projectcan reduce 129 tons of CO

per year.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

We strictly comply with relevant laws and regulations including theWater Law of the People’s Republic of China, actively promoting therational utilization of water resources. To improve water e?ciency,we implement initiatives such as reclaimed water reuse and factoryrenovation projects.

Water Resource Management

2024 Water Conservation Projects and Achievements

Case：

Super Factory Coating Wastewater TreatmentSome coating wastewater of the Super Factory treated bythe wastewater treatment station to meet the standard isreused for greening and toilet flushing. The water qualitymet the key standard limits of the Reuse of Urban RecyclingWater-Water Quality Standard for Urban Miscellaneous Use(GB/T18920-2022) and the reuse rate reached 27%.

Super Factory coating wastewater treatment

In 2024，Hubei Seres Factory recycled9,035

tons of reclaimed water, which wasused for toilet ushing and greening, e?ectively reducingtap water consumption.In 2024, Chongqing Xiaokang Power conducted agreen production level assessment and carried outmodications based on the results, investing RMB

5.505

millionsaving water resources

18,130

tonsYear-round water savings from water reuse127,440

tons

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

The Company strictly abides by national environmental protectionlaws and regulations, continuously optimizing production processes,introducing advanced facilities and equipment, and strengtheningthe monitoring and management of the “three wastes”. Thesee?orts ensure emissions are 100% compliant while minimizing theenvironmental impact.The Group strictly adheres to the Atmospheric Pollution Preventionand Control Law of the People's Republic of China and other lawsand regulations, as well as exhaust discharge standards, and weformulate and implement internal management systems and workprocesses such as the Exhaust Pollution Prevention and ControlManagement System and the Exhaust Pollution Control Proceduresto ensure that exhaust pollutants are discharged as per standards.On a regular basis, the Group entrusts the qualified third-partytesting facility to monitor real-time exhaust discharge and requireall departments seal containers that are associated with toxic andharmful gases or dust pollution, or take other protective measuresduring storage, transportation, and loading and uploading, so as toprevent discharge of harmful gases or dusts.

Discharge Management

Exhaust Discharge Management

During the reporting period,

100%

of the Company’s self-monitoring and online monitoring of exhaustgases met the standards.

Exhaust Discharge Management Measures

UpgradeExhaustTreatmentEquipment

●Prioritize low-pollution raw and auxiliary materials, developing environmentally friendly materials as raw materialsincluding water-based impedance glue and paint to reduce the discharge of volatile organic pollutants.

●Use advanced thin-lm process, enabling “zero” heavy metal emissions.

●

Use latest-generation robots, which provide fully automated glue coating and paint spraying by precisely controllingthe spray ow, rotation speed, and volume of air vented in molding and making the paint optimally atomized during thespraying process, thus reducing the concentration of exhaust gas emitted.

●Purication e?ciency reaches 95% with the Durr dry separation system.

●A wet-type Venturi scrubber spray booth is used to remove paint mist, with 98% exhaust gases removed.

●“Zeolite concentrator (KPR) and regenerative thermal oxidizer (RTO)” are used, respectively reaching the exhausttreatment e?ciency of 90% and up to 98%.

●With “regenerative thermal oxidizer (RTO) and thermal-recovery thermal incineration system (TNV)” used, the exhaustgas removal rate is up to 99%.

●1GR engine makes exhaust gases recycled, emitting less hazardous gases including carbon monoxide and carbondioxide compared to traditional fuel vehicles, and actual particulate matter emissions are under control.

●Apply FANUC paint robot to 100% removal e?ciency of organic exhaust in the coating process.

Case：

E?ciency Enhancement of Jinkang Power’s Organic Waste Gas Treatment FacilityIn April 2024, Jinkang Power proactively upgraded its organic waste gas treatment facilities, replacing the original single activatedcarbon adsorption device with a composite purification process, including dry filtration + activated carbon adsorption + high-temperature desorption + regenerative catalytic oxidation (RCO). In addition, an online monitoring system was installed, includingreal-time feedback on indicators, such as TVOC and non-methane hydrocarbons. After third-party testing, the comprehensivewaste gas treatment e?ciency remains stable at more than 85%. This project has successfully obtained a Grade B certication forthe coating industry.

Optimize theProcess ofRaw Material

Selection

OptimizeExhaustTreatment

Process

Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

The Company strictly abides by standards and requirements of laws and regulations such as the WaterPollution Prevention and Control Law of the People's Republic of China. We have formulated managementsystems such as the Management Measures for Wastewater Discharge, the Management System forWastewater Pollution Prevention and Control, and the Procedures for Wastewater Pollution Control.Through the whole process monitoring, we ensure the compliant wastewater discharge, thereby reducing theenvironmental impacts.

Wastewater Discharge Management

Wastewater Discharge Management MechanismEach unit generating waste shall strictly control the total amount ofits wastewater generated.The relevant department should strengthen the supervision andmanagement of the Company’s rainwater, wastewater outlets andwastewater treatment stations, establishing operating records andlling them.We should monitor and inspect online monitoring equipment andestablish relevant records.We should compare water quality at wastewater outlets in a timelymanner and handle abnormalities immediately once they are found.We should commission qualied units to monitor wastewater pollutionfactors according to the plan.We should disclose pollutant emission information through theEnvironmental Protection Bureau’s information disclosure website.The generated wastewater can be discharged only after treated tomeet the discharge standards required to be implemented locally, andbe sorted and discharged to the wastewater treatment department forcentralized treatment in accordance with relevant regulations.

Case：

Xiaokang PowerImplements WastewaterReduction MeasuresIn early March 2024, Xia-okang Power adopted amachining impregnation pro-cess, which significantly re-duced wastewater discharge.This initiative resulted in anannual wastewater dischargereduction of approximately42,000 cubic meters, savingabout RMB 170,000 in costs.

The Company strictly complies with the Law of the People’s Republic of China on Prevention and Control ofEnvironmental Pollution by Solid Waste, the Standards for Pollution Control on Hazardous Waste Storage, and otherrelevant laws and regulations. We have established internal management policies, including the Measures for theGeneral Industrial Solid Waste Management, the Measures for the Hazardous Waste Management and the ManagementSystem for the Prevention and Control of Solid Waste Pollution to ensure the classied control and proper managementof solid waste. We have achieved a 100% recycling and disposal rate for solid waste generated during production andmanufacturing, reducing the consumption of environmental resources.

Solid Waste Management

Solid Waste Management Measures

●Cover waste cardboard, waste wood, waste plastic, waste packaging bags, stamping leftover, metal slag inwelding, etc.

●Develop records for general industrial solid waste management, in which types, amounts, ows of industrial solidwaste are captured truly with the information traceable.

●Carry the general industrial solid waste to the warehouse and storage depots and commission to a qualied third-party unit for disposal through a written legal disposal contract in which requirements for pollution prevention andmanagement are specied.

General Industrial Solid Waste

Hazardous Waste

●Mainly include paint slug, phosphating residues, waste mineral oil, paint bucket, used cleaning cloth and gloves, etc.

●In accordance with the Standard for Pollution Control on Hazardous Waste Storage, set up hazardous wastestorage rooms, waste gas collection collectors and purication facilities to ensure that emission standards are met.

●Realize one-object-one-code management through digital empowerment for precise process control in the wholeprocess covering sorting and weighing, printing weight label, scanning code before warehousing, scanning codebefore ex-warehouse, etc.

●Formulate entry and exit record forms and warehouse inspection forms to record and conrm the weight and size,transfer process, packaging, sealing and storage of hazardous waste to ensure the precise hazardous wastemanagement.

Source Treatment

Supervision and Detection

Discharge Treatment Mechanism

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Hazardous Waste Management Measures

Recycling of Hazardous Waste

Identication of Hazardous Waste

●The waste activated carbon of hazardous waste replaced by “activated carbon adsorption andcatalytic combustion” of exhaust treatment devices has been verified useful as carburants forcast iron smelting, reducing hazardous waste by 4.5 tons in total throughout the year.

●A large number of oil iron fillings are generated during the cylinder machining, which can beused as raw materials for cast iron after verication. In 2024，the total amount of recycled oilyiron chips was 1,266.43 tons, of which 619.33 tons were utilized internally, and 647.1 tons wereprocessed externally.

●Hazardous waste packaging drums are directly recycled by the supplier and secondarily reused,reducing 32 tons of hazardous waste throughout the year.

●

Paint-containing lime is identified as general industrial solid waste, without hazardouscharacteristics, which does not belong to the waste in the National List of Hazardous Wastes (2021Edition) and does not have the hazardous characteristics specied in GB 5085. In 2024, 341.63tons of hazardous waste treated can be reduced.

Process Optimization

●The process of classifying and optimizing waste rubber is adopted in the production to reduce thewaste rubber, further making less hazardous waste generated.

●Sludge and phosphating residues are dehydrated mechanically. Sludge is further dehydratedby sludge dryer to keep 30% or less moisture content, which e?ectively reduces the weight ofhazardous waste.

Case：

Hazardous WasteManagement Upgradingat The Shiyan Factory ofSeres Automobile (Hubei)

In 2024, the Shiyan Factory ofSeres Automobile (Hubei) activelyresponded to the relevant require-ments of the Technical Specifica-tion for the Application and Issu-ance of Pollutant Discharge Permitand Industrial Solid Waste by in-troducing an intelligent hazardouswaste weighing facility to rene theprecise hazardous waste manage-ment. This system has signicantlyimproved the e?ciency of hazard-ous waste transfer and storageand optimized the Factory’s wastemanagement processes, providinga strong support for environmentalprotection efforts. This initiativenot only aligns with industry regu-lations but also demonstrates theFactory’s proactive approach andinnovative practices in environ-mental management.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

The Company strictly control noise pollution in production and operation in accordance with the Law of the People's Republic of China onPrevention and Control of Pollution from Environmental Noise. To mitigate noise propagation, we implement measures such as localizedsoundproof panels, soundproof machine rooms, silencers, soundproof doors and windows, and sound-absorbing materials. In 2024, noiseemissions from the Company’s factories remained within the permissible range specied in the pollutant discharge permit.

Noise Management

Noise Management Measures

2024 Green Production Awards

Install Sound-proof Equipment

Investment in Additional Sound-proof Panel Rooms

Use Low-noise Equipment Instead of High-noise Ones

Conduct Regular Noise Detection

●Stamping workshop and coating workshop: shock absorbersare installed on the equipment foundation in the stampingworkshop and coating workshop of Seres Automobile, andthe equipment with low noise and small vibration is selected.Soft lining boards are added on the workbench, work bins,and slide rails and enclosed soundproof measures are takenon the whole line. Air suction ports of the compressor isequipped with mu?es and air storage cylinder is coated withsound damping materials.

●Cylinder core-making post equipment of Xiaokang Power:

mu?es are added at the tail of the exhaust to ensure that thenoise in the operating area meets the standard.

●

After comprehensive evaluation, Jinkang Power invested inthe additional soundproof panel rooms in the bench test areato enclose and isolate all operating machines in the area. Theoperators operate the machine remotely outside the rooms toreduce the noise impact on the site and people around.

●Xiaokang Power plans to replace 16 high noise pneumaticgun tools in the assembly workshop with low noise hydraulicimpact drivers.

●Xiaokang Auto Parts plans to replace the original high noiseequipment with a stronger well-operated crusher with lownoise.

●Painting workshop of Phoenix Intelligent Factory has replacedthe original soot blower with noise reduction soot blower toimprove the management from the source of the noise, withthe noise decreasing from 88.9 decibels to 64 decibels.

Seres Automotive (Hubei) Co., Ltd.Hubei Green Factory and National Green Factory

Luzhou Rongda IntelligentTransmission Co., Ltd. was awardedthe Sichuan Green Factory

Chongqing Jinkang Power RenewableEnergy Co., Ltd. was awardedthe Chongqing Green Factory

The Zero Carbon Logistics Port Project of Seres Automobile

Co., Ltd. was honored as the annualGreen Low-carbon Typical Case of Chongqing in the year

of 2024

Seres Automotive Ltd. was awarded the title of“Waste-free Factory” by the Ecological EnvironmentBureau of Chongqing Jiangbei District and ChongqingJiangbei Economic and Information Committee

Seres Automobile (Liangjiang Smart Factory) won the

third prize of“Environmental Emergency Response Drill and DisposalTeam Competition” of Chongqing Liangjiang New District

●The Group’s factories regularly carry out noise detectionevery year with results meeting the Class 3 requirementsin the Emission Standard for industrial Enterprises Noise atBoundary (GB12348-2008). Since its founding, the Group hasnot received complaints from relevant parties.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Green Logistics

Green Package

Green Packaging Measures

We actively promote low-carbon logistics, aiming to establish anindustry-leading green logistics model through comprehensivemanagement of green packaging, green warehousing, and greentransportation.

As of the end of the reporting period, the Company achieved a 100% procurement ratio of recyclable packaging materials for per-vehiclemanufacturing. We continue to strive for 100% usage of non-toxic, harmless, and recyclable packaging materials.

We continue to reduce the environmental impact of packaging bypromoting greener and lighter packaging solutions.

In 2024，the Company’s recycling rate of packagingmaterials per-vehicle reached99%

hitting the target.

The recycling rate of packaging materials reaches90%

Green Packaging Targets:

Target Achievement：

Lightweight Packaging

●Use no bubble bags for cabin decorative plates, which can reduce 100,000 PE packaging bags per year.

●

In 2024, the Company’s single-vehicle packaging volume was 140m

Supplier Cooperation

●Release the 2024 Supplier Incoming Packaging Specications, clarifying the design requirements for packaging materials andsize, etc. and requiring lightweight design of supplier packaging.

●In 2024, The Seres Super Factory promoted over 60 suppliers to make packaging improvements, reducing the use of about80,000 cardboard boxes and about 100,000 wooden pallets during the reporting period.

Recycled Packaging

●

Replace PE bubble bags with recyclable hollow board cards, which can reduce 100,000 PE packaging bags per year.

●

Replace original internally-packaged carton boxes with recyclable material racks, which can reduce 2,000 kg packaging paper peryear and improve e?ciency and utility of packaging.

●Replace bubble-bag plastic boxed with recyclable EVA package, which can improve e?ciency and utility of packaging.

●Eliminated the use of disposable bubble bag liners for plastic boxes and switch to recycled liners in 2024, reducing the use ofbubble bags with lowering more than 100 tons of carbon emissions.

●Achieve packaging materials recycling of more than 90% of parts.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesGreen Warehousing

Green Transportation

We actively promote green warehousing by reducing carbon emissions throughthe integration of clean energy and electrified operations. Rooftop photovoltaicsystems have been installed across all logistics warehouses at our factory sites,reaching a total installed capacity of 28.52 MW by the end of the reporting period.At the same time, prioritize using warehouse resources with green storagecertication and employ renewable energy-powered loading and transport vehiclesto minimize the environmental impact of warehousing activities.The Liangjiang Smart Factory has installed a 7.22 MW photovoltaic project in itsshipping yard and logistics warehouse. During the reporting period, renewableenergy accounted for 23.9% of energy consumption for warehousing and shipping.

The Company continues to optimize internal and external transportationprocesses, implementing various initiatives to advance the development of a low-carbon transportation system. Through measures such as VMI

warehouses +circular pickup + smart logistics hubs, we have improved logistics e?ciency. Asa result, truck loading rates have increased to 70%, while the number of trucksrequired has been reduced by 20%, leading to a substantial decrease in carbonemissions during transportation.

Green Transportation Measures

Inside TransportationOutside Transportation

●100% electried deployment of forkliftsand tractors used for loading, uploading,and transportation inside the factory hasbeen realized.

●Automated transport equipment is set toenergy-saving mode, reducing energyconsumption during non-operationalperiods.

●We conduct logistics analysis on the cargo volumes of suppliers, optimizingpick-up routes and carrying out circular item pick-up.

●We analyze contracts and estimated sales by an intelligent dispatchingsystem, optimizing the transportation network. This can improve loadinge?ciency, reduce empty runs and unnecessary transport distances.

●We integrate multiple means of transportation, including shipping and railway,selecting the most suitable method and routes based on the reality.During the reporting period, renewable energy accounted for

23.9%

of energy consumption for warehousing and shipping.

VMI: Vendor Managed Inventory, a supply chain management model. Vendors directly monitorand replenish inventory to optimize inventory levels.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesGreen O?ce

The Group implements national and provincial-level policies suchas the Implementation Plan for Green and Low Carbon LeadingAction of Public Institutions to Promote Carbon Peak and theImplementation Plan for Green and Low Carbon Leading Actionof Public Institutions to Promote Carbon Peak in ChongqingMunicipality. We strictly adhere to internal regulations such as theO?ce Building Management Regulations and the Business VehicleManagement Regulations, upholding a low-carbon and greenbusiness philosophy while promoting green o?ce practices. Throughinitiatives such as energy and water conservation, paperless o?cepractices, and regulated electricity management, we effectivelyreduce energy consumption in daily operations, supportingsustainable and eco-friendly business practices. We also encourageemployees to adopt low-carbon travel. In 2024, green flightscontributed to a total reduction of 811.29 tons of carbon dioxideemissions from business travel.

The Company prioritizes low-carbon operations by implementing rened energy management to reduce carbon emissions. Our stores widelyadopt high-e?ciency LED lighting and energy-saving equipment, while an energy management system optimizes the operation of key devices,such as lighting and air conditioning, ensuring e?cient performance and minimizing carbon emissions. At the same time, we promote the useof green electricity in selected stores. For example, Dongguan Huajie Zhixing introduced an integrated solar storage and charging solution,generating 670,000 kWh of green electricity annually, with 260,000 kWh stored for peak shaving. This approach not only meets energy-savingand carbon reduction goals but also ensures a stable electricity supply during peak demand, optimizing power costs.

Green O?ce Management MeasuresAdvocate Paperless O?ce

Renewable Energy of Business Vehicles

Standardize Electricity Management

●We promote paperless office and advocate double-sidedprinting and reuse the printed paper when necessary, callingon all employees to participate in saving paper sheets.

●We promote online paperless training and examinations andencourage employees to save paper sheets.

●We reduce the use of fuel-powered vehicles. During thereporting period, there are a total of 180 business vehiclesin the Company, including 113 renewable energy onesaccounting for 62.8%, an 10.65% increase compared to2023.

●When the indoor temperature reaches 28°C or above, theair conditioning can be turned on, with the temperature setno lower than 26°C; When the indoor temperature drops to10°C or below, the air conditioning can be turned on, with thetemperature set no higher than 20°C.

●We should make full use of natural light and turn offunnecessary lighting facilities while retaining basic lightingin daily o?ce work to ensure “The electricity shall be cut o?when it is not necessary or needed”.

●The standby time of o?ce devices, including computers andprinters, shall be shortened, and turned o? when not be usedor after work; Check whether electronic equipment, electricappliances, lighting, doors and windows shall be turned o?so as to reduce energy consumption due to the standbymode.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Key performance indicatorsUnit2024Total exhaust discharge cubic meters 16,620,054,240.17Sulfur oxides（SO

X）ton8.92Nitrogen oxides（NOX）ton39.39VOCton106.29Particulate matter ton50.74Total amount of wastewater dischargeton1,229,479.41Ammonia nitrogenton1.89Total phosphorus ton0.37BODton13.44CODton74.74Total amount of non-hazardous wasteton51,228.76Non-hazardous waste discharge density

ton/ revenue of

RMB10,000

0.0035

Total amount of hazardous waste

ton8,548.34

ESG key performance

Key performance indicatorsUnit2024

Hazardous waste discharge density

ton/ revenue ofRMB10,000

0.0006

Gasoline ton4,324.23Diesel oil ton34.34Natural gas cubic meters24,239,446.00Purchased electricity kilowatt hours337,701,534.00Comprehensive energy consumption

tce (ton of standard coalequivalent)

80,154.69Comprehensive energy consumptiondensity

tce/ revenue of

RMB10,000

0.0055

Total water consumption ton1,163,904.00Total water consumption Density

ton/ revenue ofRMB10,000

0.08

Municipal water supply ton1,154,869.00Reclaimed water recovery ton127,440Refrigerant ton2.23Recycling rate of recycled packaging per-vehicle

percentage99

In 2024, due to a signicant increase in output value, emissions gures increased signicantly compared to previousyears.

Hazardous waste is dened according to the National Catalogue of Hazardous Wastes (2021 Edition) issued by theMinistry of Ecology and Environment of the People’s Republic of China.

The comprehensive energy consumption is calculated based on the General Rules for Calculation of ComprehensiveEnergy Consumption (GB/T 2589-2020).

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Diversity & Inclusion,Talent CareThe Company respects the employees’ diversity and protects their rights and welfare, establishing a sound trainingsystem and promotion channels. With a focus on humanistic care and occupational health, we are committed tocreating an equal, diversied and healthy work environment.

Awarded

“2024 China Best Employer of the Year”

and

“The Most Innovative Employer”

by Zhaopin.comImplemented an employee stock ownership plan with

participantsConducted employee training sessions with a total of244, 943

participantsConducted1,035

safe production inspections

identifying and addressing30,786

potential hazards

and

431,031

training hours

a lock-in period of

years

an incentive unlocking ratio of

50%

per phase

2024 Highlights Performance

SDGs Responses

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesEmployee Rights and WelfareWe are committed to creating a fair, inclusive, and diverse workplace. Our approach emphasizes fair compensation and performance management, ensuring that every employee has equal opportunities, respect, andrecognition for their contributions. We also prioritize benets, open communication, and support for employees’ personal growth, health, and family needs.Equal and Diversied EmploymentThe Company strictly abides by relevant regulations and laws, including the Labor Law of the People’s Republic of China, the Labor ContractLaw of the People’s Republic of China as well as relevant requirements of the core conventions of the International Labor Organization. We haveformulated internal policies such as the Recruitment Management System, Compiled Human Resources System Management, and EmployeeManual. Discrimination of any kind—regardless of gender, age, ethnicity, nationality, religion, or other personal factors—is not tolerated.We ensure that job descriptions are free from biased language related to gender, height, ethnicity, or religion, creating a fair, compliant andtransparent hiring process for all candidates.In our recruitment practices, we strictly adhere to the Convention on the Rights of the Child, the Forced Labor Convention, and the Labor Law ofthe People’s Republic of China when recruiting. We do not employ individuals under 16, whether as direct employees or through third-party labordispatch. We also have a zero-tolerance policy for forced labor. During the reporting period, the Group had no cases of child or forced labor. Asof 2024, the Group employed 18,838 individuals under labor contracts, including 886 employees from ethnic minority groups and 217 foreignemployees.At the same time, we actively promote gender equality in the workplace, working to improve representation at all levels. In 2024, 15.19% of ourmanagement positions were held by women.

As of 2024, the Group employed

18,838

individuals under labor contractsIn 2024,

15.19%

of our management positions were held by women

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

We actively seek to build a team with diverse backgrounds, skills, and experiences, recognizing that a variety of perspectives drives innovationand long-term growth. To support this, we implement targeted recruitment initiatives designed to attract talent from different fields. In 2024,we introduced programs like the “Talent Reserve Project” and “Talent Flow Project” to bring in a broad range of professionals. Additionally, welaunched the “Rear Wave Program” and “Talent Living Water Program” to further expand our talent pool. In 2024, we welcomed 3,747 newemployees.

We actively conduct campus recruitment to attract emerging talents and inject new vitality into our development.In 2024, through campus recruitment, we received more than 100,000 resumes from outstanding studentsworldwide. This campus recruitment covers leading universities across the country, successfully signingtop talent from Tsinghua University, Peking University, the C9 League and prestigious 985 universities. Theproportion of master’s and PhD graduates among the signed candidates has increased signicantly.

Recruitment Plan

We launch the “Talent Reserve” in September every year to select talents for middle-level reserve leadersserving the Group. We select and recruit excellent internal employees who have applied for the project througha comprehensive evaluation composed of written exams and interviews, and successfully selected employeeswill participate in a one-year training project.

We actively promote talent flow inside the Group and prioritize internal members for vacant positions.Employees can release internal recruitment information through the work platform and choose to applyindependently according to their personal willingness.

CampusRecruitment

Talent

Reserve

Talent Flow

Recruitment Type

2024 Employee Recruitment Plan

Case：

“Automobile Culture Festival” HelpsCampus Recruitment

“Automobile Culture Festival” Helps Campus Recruitment

On September 20, 2024, the Company, together withXi'an Jiaotong University, held the “Automotive CultureFestival” at the Innovation Harbor Campus. Thefestival combined online and o?ine activities, featuringautomobile experience, trunk markets, traditional teabrewing, and interactive games, attracting a largenumber of graduate students.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Chinese mainland

Overseas

In 2024, the Company was awarded as a “Strategic Partner” bythe Organizing Committee O?ce of Chongqing International TalentExchange Conference and became the “Graduate EmploymentBase” of Chongqing University of Posts and Telecommunications.Additionally, we received several industry accolades, including “2024Extraordinary Employer of the Year” from Liepin, as well as “ChinaBest Employer of the Year” and “Most Innovative Employer” fromZhaopin.com. These honors highlight our commitment to attractingtop talent.

Employer-related Awards

2024 Sta? Employment

4,215

Aged 30-39

Production sta?Technical R&D sta?

General andadministrativeservices sta?

Female employees

14,623

7,899

2,1231,699

3,711

4,215

7,117

6,021

9,106

18,618

Number of employees by ageNumber of employees by gender

Number of employees by regionNumber of employees by type

Male employees

Sales andmarketing sta?

Aged 40 and overAged 29 and below

Chinese Hong Kong, Macao, and Taiwan

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesTo strengthen our talent management strategy andprovide ongoing support, we conduct quarterly check-insand interviews with newly promoted employees, recenthires, and key personnel showing signs of concern. Thisproactive approach helps us track employee status in real-time, and effectively reduce turnover. In 2024, our totalturnover rate was 11.39%.

In 2024, our total turnover rate was

11.39%

4,715

3,0903,823

3,7478,461

1,839

Number of employees by educationNumber of newly recruited employees

Total number ofemployees with a highschool degree and below

Total number ofemployees with a master’sdegree and above

Total number ofemployees with abachelor’s degreeTotal number ofemployees with acollege degree

Total number of newlyrecruited employeesfrom overseas

Total number of newly

recruited employees

through campus recruitment

Total number of newly

recruited employeesTotal number ofnewly recruitedemployees throughsocial recruitment

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesRemuneration and BenetsThe Company is committed to providing employees with competitivesalaries and a structured compensation system that ensures fairness andtransparency. Our Remuneration Management System outlines salarycomponents, including base pay, role-based compensation, performanceincentives, and allowances, safeguarding employee rights. To reinforce thelink between performance and pay, we integrate monthly, quarterly, andannual performance-based rewards into total compensation. The proportion ofvariable pay di?ers by job level, with senior and mid-level managers receivinga higher share than general employees. Furthermore, we use an annualcumulative performance mechanism. This allows employees to o?set unmetshort-term targets by accumulating previous performance achievements,strengthening the impact of performance-based incentives and encouragingconsistent improvement.In 2024, we introduced a long-term incentive plan through an employeestock ownership program for 252 key employees across R&D, procurement,manufacturing, sales, and functional departments. The plan includes a two-year lock-in period, with 50% of shares unlocking in each phase. Incentivetargets are tied to both company-wide business performance and individualcontributions, maximizing employee engagement and potential.We actively build a non-salary benet system for all full-time employees whileoffering special support for disadvantaged employees, retirees, employeesstationed abroad, and frontline production workers. We have partnered withover 20 organizations in education, healthcare, retail, and telecommunicationsto offer exclusive benefits tailored to employees’ daily needs. In 2024, ourGolden Autumn Education Assistance Program provided over RMB 1 millionin scholarships to support more than 1,000 employees’ children. We alsodistributed RMB 3.95 million in holiday benets and RMB 669,600 in birthdaygift packages.

InsuranceCoverage

HealthInsuranceLogisticServices

MaternityCare

DailyCare

Non-salary BenetSystem for Employees

●

Social insurances composed of pension,medical insurance, unemployment insurance,work injury insurance, maternity insurancewith the coverage of all formal employees.

●Provide free supplementary medical insurancefor employees and their children, coveringmajor illness, accidental injury, etc.

●Housing fund

●Annual physical examination

●Lectures on health

●Services and support forpsychological health

●Free working and overtime meals

●Free accommodation andtransportation

●Communications subsidies

●Discount for internal employeesbuying the car

●Holiday gifts

●Maternity leave, prenatal check-up leave, paternity leave

●Internal mother-and-baby room

●Holiday activities

●Birthday gifts

●Themed team-building activities

●

Sports games

●

Fellowship for youngemployees

●Scholarship

●Provide caring childcareclasses for employees’children during winterand summer holidays.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Retiredemployees

Impoverishedemployees

Femaleemployees

Overseasemployees andemployeesstationedaboard

Democratic CommunicationWe actively protect employees’ right to freedom of association andformally included relevant guidelines in the Onboarding Guide in2024. Employees are encouraged to participate in labor unionsto safeguard their legal rights and democratic interests. As of thisreporting period, 100% of employees under labor union agreementshave signed collective agreementsTo ensure employees’ voices are heard, we have establishedmultiple communication channels, including the “Complaints andSuggestions” platform, “Party Building and Logistics EmployeeForum,” as well as complaint emails, a dedicated phone line,and employee symposiums. These platforms provide employeeswith direct ways to share concerns and ideas. For performanceevaluations, we o?er a formal appeal process where employees cansubmit feedback via email. Appeals are reviewed, and employeesreceive a response within three working days. If any unfair incidentsare identified, we take corrective action promptly. In 2024, weachieved a 100% resolution rate for employee complaints.During the reporting period, we conducted one semi-annual andone annual employee satisfaction survey, covering 15,082 and15,423 employees, respectively. These surveys focused on workenvironment, dining, accommodation, and transportation. In 2024,the semi-annual satisfaction rate was 79.8%, while the annual ratewas 78.2%. We are committed to using this feedback to continuouslyimprove employee satisfaction and overall well-being.

In 2024, the coverage rate of employees signing thecollective agreement of the labor union reached

100%

●In every Spring Festival, we visit and care for retired employees serving the Group for 10 years and longer,presenting gift packages as our gratitude for their contributions to corporate development.

●We have established a dedicated fund for impoverished employees. In 2024, a total of 14,874 employeeswere included in the fund, with 51 members supported with RMB 280,200.

●The establishment of the Women’s Federation Organization：

In September 2024, the company establishedthe first Women’s Federation Organization among China’s top 500 private enterprises in Chongqing. AFederation Executive Committee was elected, and the “Three Links, Three Gatherings” work system wasformulated, providing a strong organizational guarantee for uniting and supporting female employees.

●Care activities：

We organized over 20 activities, including beauty classes, Women’s Day healthconsultations, flower arrangement sessions, and handicraft workshops, focusing on caring for femaleemployees and helping them demonstrate their condence.

●Mommy room：

To support working mothers, we set up a dedicated mommy room. Since its establishment,more than 300 female employees have been provided with a warm and supportive service.

●

Special illness insurance: Since 2015, we have purchased special illness insurances for female employeesvoluntarily to be insured. By the end of December 2024, cumulatively, a total of 4,051 female employeesand female family members of male employees have been insured.

●We visit families of employees stationed abroad during traditional festivals such as the Dragon BoatFestival, Mid-Autumn Festival, and Spring Festival.

●We celebrate with foreign employees their national festivals or provide paid leave to them in the festivals.

●When the wife of employees stationed abroad is about to give birth, we organize female employees to taketurns taking care of her.

●We provide a green medical channel in a cooperative hospital for their family members falling ill.

●We assist with entry procedures for their child starting school.

Special Caring Measures for Specic Groups

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Employee Training and DevelopmentAt Seres Group, we are committed to providing employees with diverse career development opportunities and pathways. Our goal is to continuously rene technical training programs, enhance employees’ skills, andunlock their full potential, aligning personal growth with the Company’s long-term strategic vision.Training and PromotionUpholding the vision of “building a world-class leading brand of new luxury automobiles”, we systematically develop a talent team “driven by mission and capability.” Our training system is tailored for employees in keypositions, ensuring that we cultivate top-tier talent to support the Company’s growth.

We have launched a series of cadre development programs centered on the mission and responsibilities, including theManagement Trainee Program, New Cadre Transition Training, Mid-level Cadre Reserve Development Program, and SeniorCadre Development Program. Additionally, we strengthen leadership education on values and beliefs to further enhance cadres’sense of mission and responsibility.

According to the job qualications of di?erent professional employees, we focus on thekey knowledge and skills required for each position. We have designed and conducteddozens of specialized talent training programs, including “Intelligent Driving SharingFamily” and “Financial Management”, enhancing the professional capabilities and overallquality of our engineer talent team.

We provide cultural courses and training on position knowledge for all newemployees and arrange one-on-one mentors to help them integrate into theteam. A one-year growth training camp for newly recruited college studentswas provided in three phases: centralized training, post rotation, and postdetermination, helping these graduates adapt to corporate culture andbusinesses and complete role transformation.The Company’s Training System

CadreDevelopment

EngineerDevelopment

New EmployeeDevelopment

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Rank

CEO, CXO, SVP, VP, AVPGeneral Manager, Deputy General Manager, General Manager Assistant

Minister, Deputy MinisterMinister AssistantAssistantEngineer

Engineer Chief EngineerExpert Senior Expert Chief Experts/ScientistSpecialistSenior Specialist Business Manager

Senior Business

Manager

Specialization Director

Project Director

Senior DirectorSpecialistJunior Worker

IntermediateWorker

SeniorWorker

Technician

SeniorWorkerJunior Worker

IntermediateWorker

SeniorWorker

To identify and nurture exceptional employees, we use a multi-dimensional talent identication process that spans di?erent categories and levels. This approach allows us to quickly recognize and promote high-potentialindividuals through various assessment methods, including tool-based evaluation, hands-on assessment, development tracking, and platform-based monitoring. These methods ensure that employees’ skills are fullyrecognized and utilized, leading to merit-based promotions. Additionally, we have adopted a six-level and eighteen-rank position classication system, and established two promotion channels: “management track” and“professional track”. This approach helps employees clearly plan and understand their career development paths.

Management Technical

Professional Marketing Skills Support

Management Track Professional Track

Grassrootsemployees

Experiencedtalents

Backbonetalents

Elites

Operation level insubsidiaries

Management level

Six levels with eighteen ranks

Employee Promotion ChannelsEmployee Promotion Path and Mechanism

We conduct promotion certication every year,inviting business leaders, superior managers,the human resources department and expertjudges to form a professional panel. Thispanel evaluates and certifies employeesbased on job level and qualication standards,ensuring that the promotion results areauthoritative and e?ective.

We regularly organize capability assessmentsevery year, and smooth promotion channelsfor reserve talents based on the nine-boxtalent gird results, further optimizing themanagement development.

Promotion MechanismPromotion Path

Professional

Track

Management

Track

123456789101112131415161718

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Employee TrainingWith a focus on talent cultivation, we have formulated internal systems, including the Internal Trainer and Course Management Measures toestablish a sound training management system covering training plan development, in-process implementation, e?ectiveness evaluation, archivemanagement, trainer management and course management.Employees can access a variety of online and o?ine courses covering management skills, professional expertise, and job-specic training fornew hires. These programs help employees discover their potential, rene their skills, and transfer organizational knowledge e?ectively. We arealso committed to digital learning, using AI-driven platforms to enhance training accessibility and integrate top-quality trainers and course content.This approach ensures that employees can continuously improve their professional skills. In 2024, a total of 244,943 employees participated intraining at Seres Group, achieving 100% training coverage with a cumulative 431,031 training hours.

Employee Training System

The program consists of three phases,including centralized training – an initialorientation to help graduates understand theCompany culture, values, and expectations,post rotation – a hands-on experienceacross di?erent roles to develop adaptabilityand practical skills and post determination –nal role placement based on performanceand interests. Through structured trainingand real-world applications, this programcontinuously develops high-quality youngtalent, supporting the Company’s long-termgrowth.

To strengthen knowledge sharing andmentorship within the Company, werun the “Spark Program” annually. Thisthree-month blended learning initiativecombines online and offline training toequip internal trainers with essential skillsin course design, teaching techniques,and classroom management. At the endof the program, participants undergo atrainer certification evaluation, and 45qualified trainers are certified each year.This initiative injects new energy intotalent development, ensuring knowledgeand expertise are effectively passed onwithin the organization.

With the mission of “growing with usersand creating value for users,” we select“intelligent driving sharers” to participatein the Intelligent Driving ExperienceProgram. These “Intelligent DrivingSharers” undergo a one-month specializedtraining covering product knowledge,hands-on operation, etiquette standards,and condentiality requirements. In 2024,we conducted two training sessions,certifying dozens of sharers. Theseparticipants actively engaged in intelligentdriving salon events, directly interactingwith users to provide deeper insights anda more connected experience.

The growth training camp fornewly recruited college students

Internal trainer development program“Intelligent driving sharers” training

In 2024, a total of244,943

employees participated in training at Seres Group,achieving431,031

training hours

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Case：

“Talent Flow Project” Leadership TrainingProgram

Talent Flow Project Training

To build a “mission-driven, capability-driven” talent team,we have launched the “Talent Flow Project” to identifyand develop middle management talent reserve withinthe group, continuously optimizing our implementationscheme and evaluation mechanisms. In 2024, the“Talent Flow Project” made innovations based on itsoriginal structure, establishing the “Passion and VitalityModel”, and adding a comprehensive assessment andspeech evaluation. This enhancement enables a multi-dimensional assessment of employees’ potential in areassuch as management personality, skills, and leadershipstyle. The selected employees will receive a one-yearsystematic training program covering managementskills, leadership development, and other areas.This comprehensive training aims to strengthen theCompany’s “core middle management talent pipeline”,promoting our continuous growth.

We continue to support and encourage employees to advance their professional skills and strengthen their core competencies through externallearning and certication programs. As part of this e?ort, we have actively implemented our strategic partnership with Chongqing University,fostering talent development and technological innovation through deeper collaboration in research and skill-building. In 2024, we sponsored sixemployees to pursue Doctoral Degrees in Engineering at Chongqing University, further expanding their expertise. Additionally, we provided skillstraining for 786 frontline workers through the Employee Training Center, helping them earn Automotive Maintenance Technician Certications.To promote knowledge sharing and cost-effective talent development, we continue to offer internal training programs, cultivate a strong in-house trainer team, and support employees in obtaining professional qualications. These initiatives help enhance overall workforce capabilities,ensuring employees stay competitive in their elds.

Total length of employees receiving

training by genderTotal number of employees receiving

training by gender

Male employees

22.88

244,943

431,0314,21596,443.1

14,623334,587.8hours

Total length of employee

training per personFemale employees

Male employees

Female employees

hours

Total employee training

participants

Total length of employee

training

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesOccupational Health and SafetyHealth and safety are at the core of our operations. We continuously enhance workplace safety and occupational health management systems, ensuring a secure, healthy, and comfortable environment for employees.

Employee Occupational HealthWe strictly abide by the Law of the People’s Republic of China on the Prevention and Control of Occupational Diseases and other laws andregulations. We have formulated internal management systems such as the Occupational Health and Safety Management System and theOccupational Disease Prevention and Control Publicity, Education, and Training System and actively organized various health-related activities,enhancing our employees’ health awareness.To strengthen occupational disease prevention, we have implemented a series of measures to ensure employees are well-informed andprotected. Occupational health policies and annual hazard monitoring reports are prominently displayed on bulletin boards, providingtransparency about potential risks. Clear warning signs and instructions in Chinese are placed in high-risk areas, while employees working inenvironments exposed to noise, dust, toxic substances, and other hazards receive occupational hazard notication cards outlining specic risks.Alarm systems, rst-aid supplies, and emergency washing stations have been installed in areas with acute occupational hazards to improveresponse readiness. Employees in hazardous roles are also required to sign the Occupational Hazard Notication Agreement, which clearlydenes workplace risks and protection measures.In 2024, we continued our e?orts to prevent occupational diseases, ensuring that 11,719 employees underwent medical examinations and thecoverage rate of employees' physical examinations reaches 100%. Among them, 8,498 new hires completed pre-employment health checks, with

95.6% passing. 371 employees who were not suited for hazardous roles were reassigned to safer positions. 2,291 employees received routine

health screenings during their employment, with a 99.6% pass rate, while 9 employees with occupational contraindications were successfullymoved to di?erent roles. Additionally, 930 employees completed exit medical examinations, with a 100% pass rate. all passing without issues. Nonew cases of occupational disease were reported during the year.Currently, 100% of the company's own factories have obtained the ISO 45001 Occupational Health and Safety Management System certication.During the reporting period, we employed 65 full-time safety personnel and invested RMB 29.215 million in occupational health initiatives.

In 2024, we continued our e?orts to preventoccupational diseases, ensuring that all11,719

employees underwent medical examinationswith a100%

coverage rate

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

At Seres Automotive, we continue to consolidate our achievements inestablishing “Healthy Enterprise” in Hubei Province. We use “HealthCabin” and “Emergency Rescue Center” to monitor and safeguardthe safety and health of all employees. Additionally, an employeecare hotline and mailbox have been set up, along with regularemployee democratic forums to promptly address their concerns andmental health problems, ensuring comprehensive safety and healthprotection.

Health and Safety Platform Development

In July 2024, we collaborated with Chenjiaqiao Hospital of ShapingbaDistrict to organize a Traditional Chinese Medicine Consultation Eventat Wuyun Lake office area. Through the combination of “lectures+ consultations + physiotherapy sessions”, this event can helpemployees improve their self-health management and healthcareawareness.

In November 2024, we collaborated with DonghuaHospital, conducting an online and offline “StressBattle” mental health seminar, which aimed to helpemployees learn how to effectively manage theiremotions and promote both physical and mentalhealth.

Shiyan Factory-Health Cabin

Shiyan Factory -Emergency

Rescue Center

Case: “Labor Union’s Cool Relief and SummerHeat Protection for Health” Event

“Labor Union’s Cool Relief and Summer Heat

Protection for Health” Event

During hot summer days, we actively launched the“Labor Union’s Cool Relief and Summer Heat Protectionfor Health” event to ensure the well-being of frontlineproduction employees. Based on the operational realityof the manufacturing industry, we arranged a seven-day high-temperature technical improvement leave foremployees. Additionally, cooling relief activities wereconducted on-site, covering 57,183 participants anddistributing heat prevention supplies with a total worthof RMB 955,643.

Traditional Chinese Medicine Consultation EventMental Health Activity

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesSeres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

We actively conduct occupational health and safety trainingfor all employees, covering first-aid certification, safetymanagement training, and specialized re safety programsduring Fire Protection Month. In 2024, we conducted 3,351training sessions, reaching 305,968 participants with atotal of 494,415.2 training hours, averaging 33.49 hoursper employee. In addition, we organize ongoing safetyawareness initiatives throughout the year, including theLantern Festival Safety Park Event, Occupational HealthWeek, Safety Month activities, Fire Protection Month events,and quarterly safety quizzes with prizes. These effortsreinforce safety knowledge and help employees develop astronger awareness of workplace health and safety.

Case：

The Law on Occupational DiseasePrevention Awareness Week EventIn April 2024, we launched the Law onOccupational Disease Prevention and ControlAwareness Week Event, aiming to strengthen thepromotion and implementation of occupationaldisease prevention knowledge. Under thetheme of “prioritizing prevention to safeguardoccupational health”, this event emphasizedpromoting the Law on Occupational DiseasePrevention and Control and the National Plan forPrevention and Control of Occupational Diseases(2021-2025), thereby enhancing employees’occupational health awareness and rights.

Safety GuaranteeAt Seres Group, safety remains a top priority. We strictly abide by relevant national laws and regulations while formulating and implementing internalsafety management systems to ensure the orderly advancement of safety e?orts.In strict compliance with the Work Safety Law of the People’s Republic of China and the Fire Protection Law of the People’s Republic of China and otherlaws and regulations, the group has formulated and implemented internal management systems such as the Project Safety Management Regulations,work safety Guarantee Management Measures and work safety Objective Management System, ensuring an orderly implementation of safe production.In 2024, we introduced the Environmental Occupational Health and Safety Management Manual and complied 19 procedural documents, includingManagement Procedures for Understanding the Organization and the Environment and Management Procedures for Identifying, Evaluating andUpdating Environmental Factors. At the same time, we also established 53 management systems, including the Management System for EquipmentMaintenance Locking and Tagging and work safety Responsibility System, further improving the occupational health and safety system.We have set up a multi-level safe production management system that clearly denes safety responsibilities at all levels. The Safety, Environmentand Health Management Committee (hereinafter referred to as “the Committee”) oversees all safety initiatives as the highest decision-making body inthis area. In 2024, the committee director signed the Target Responsibility Letter of Safety, Environmental Protection, Occupational Health, and FireProtection with the leaders of all subordinate units, achieving 100% signing coverage and reinforcing company-wide commitment to safety.

Safety Management System

Work Safety Management System

TheCommitteeLeading Groups for

Work SafetyAll Business Departments and

Subsidiaries

Composed of the Chairman, directors of production units and relevant functional departments;Responsible for comprehensively inspecting, supervising, arranging the work safety management ofthe Group and its subsidiaries.Composed of persons in charge of the relevant functional departments and each production unitof the Group and its subsidiaries; Responsible for reviewing the major work safety issues of theGroup and its subsidiaries and supervising the implementation of work safety by each unit.

Specically responsible for the implementation of work safety required in the businessprocess; Conduct internal safe production management.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

We have formulated the Management Measures for Seres Group EHS Targets and Indicators Assessment to ensure that safety remains apriority at the executive level. By tying safety performance to senior management compensation, and adjusting bonuses based on annualassessments. By reinforcing accountability and proactive risk management, we drive continuous improvements in workplace safety. In 2024, weset and completed 10 quantitative safety management objectives.

Safe Management Targets

2024 Key Production Safety Management Objectives and Results

Target Indicators Completion in 2024Zero work-related death incidents with employeesMetZero work-related death incidents with related sta? in the Company MetZero government penalties or negative reports caused by safety incidents, environmental pollution events, or

violations of relevant laws and regulations

MetRate of injuries per 1,000 people≤2.5‰MetRate of severe injuries per 1,000 people ≤0.8‰MetAt least 95% rectication of general potential hazards, and 100% rectication of major potential hazards. MetInspection rate of special equipment and safely accessories, certication rate of special equipment operators,control rate of dangerous operation, and certication rate of special operation personnel all remain at 100%.

Met

Occupational health examination rate, and transfer rate due to occupational contraindications reach 100%. MetCompliance rate of “three simultaneities”, safety inspection execution rate, safety education and trainingrate, and the signing coverage of safety agreements by relevant parties reach 100%, and requirementimplementation rate of superior documents is 100%.

Met

Emergency plan registration rate, drill rate, 24-hour duty and information reporting rate reach 100%. Met

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Specialized InspectionsHidden dangers inspections with a focus on electrical safety,chemical safety, re safety and machinery safety.

Seasonal Inspections

Holiday Inspections

Based on internal systems, including the Hazards Identication System and Work Safety Inspection and Hidden Danger Rectication System,we regularly assess risks, conduct safety inspections, and address potential hazards. In 2024, we carried out 1,035 inspections, identifying30,786 safety hazards across various areas. These inspections covered daily, weekly, and monthly reviews, as well as seasonal, holiday, andspecialized assessments, ensuring a thorough approach to workplace safety.

Inspections of seasonal measures against heat, rain, ood, lightning and cold.

Safety inspections before holidays such as Spring Festival,Labor Day, National Day and high-temperature holidays.

Work Safety Inspection

The Committee Organizes Safety Inspections Before the HolidaysConducting Independent Safety Inspections at Each Site

Seres Group Co., Ltd. 2024 Environmental, Social, and Governance Report

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

We conduct environmental, occupational, and safety assessmentsin line with regulations, continuously rening emergency responseplans to strengthen risk management. This ensures that preventivemeasures are in place and reduces the likelihood of safety incidents.In 2024, we conducted over 800 emergency drills, covering fireevacuation, electric shock response, and first aid training, alongwith specialized drills for heat stroke prevention and confinedspace rescue. A total of 46,000 employees participated, enhancingtheir ability to respond effectively in emergencies and reinforcingworkplace safety awareness.

During the reporting period, Seres Group made signicant strides in occupational health and safety, earning multiple industry recognitions. In2024, Seres Automobile (Hubei) Co., Ltd, a subsidiary of Seres Group, came in third in the indoor re hydrant operation category at the municipalfire safety skills competition and won second place in the “Craftsman Cup” competition in the Economic Development District. In addition,Chongqing Xiaokang Power Co., Ltd. also received several awards, including “Chongqing Healthy Enterprise”, “Outstanding Contracting Unit”,“Advanced Group”, and “Excellent Enterprise in Safe Production”.

Safety Emergency Drills

Series of Emergency Drills

Liangjiang Smart Factory EmergencyEvacuation Drill

Phoenix Intelligent Factory High Fall First Aid Drill

Xiaokang Parts Emergency Evacuation Drill

Shuangfu Factory Emergency Drill of LimitedSpace Incidents

Luzhou Rongda Fire Extinguishing Drill

In 2024, we conducted over

emergency drills,covering re evacuation, electric shockresponse, and rst aid training, alongwith specialized drills for heat strokeprevention and conned space rescueA total of46,000

participants

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

In 2024, we conducted over 5,000 training sessions covering skillsfor safety management skill enhancement, new employee training,reghting knowledge and emergency response training, with a totalof over 510,000 participants.

Work Safety Training

Indicators Unit2024 2023 2022

Number of work-related deaths /00/

Work-related death rate %00/Number of occupational injuries /314246

Work-related injury rate %0.160.260.27Number of work-related injuries /56//Lost time injury frequency rate per million hours worked /0.591.301.37

In 2024, we conducted over

5,000

training sessions covering skillswith a total of over510,000

participants

Safety Management TrainingSafety Knowledge Training

Fireghting Knowledge Training First Aid TrainingNew Employee Training

Key Safety Performance Indicators (2022-2024)

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

Responsible Supply Chain,Thriving CommunitiesAt Seres Group, we are committed to building an efficient, responsible, andsustainable supply chain. We continuously optimize our management practices andwork closely with suppliers to foster mutual growth. Beyond business, we activelycontribute to rural revitalization and public charity, supporting broader social andeconomic development while creating sustainable prosperity for the community.100%

of suppliers havesigned the Supplier IntegrityCommitment

and all suppliers have been certied bytheIATF 16949

systemWe conducted product audits, process auditsand quality audits on 84 suppliers,

audits on the high-risk supplier systemTotal investment in rural revitalizationreached RMB

4.4916

million

volunteer activitieswere organizedThe total duration of volunteer service reached5,600

hours

with a total of

1,400

volunteer participants

including RMB

4.1288

million inagricultural product procurement

regular on-site inspections for

risky suppliers

2024 Highlights Performance

SDGs Responses

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

We have established a comprehensive suppliermanagement system, ensuring that quality, safety,and risk management remain a priority throughoutthe supplier lifecycle. To promote sustainable growth,we actively develop green supply chain initiativesand provide training and exchange opportunities forsuppliers.

We have formulated the Supplier Code of Conduct

,which applies to all suppliers and sets clearexpectations in areas such as labor practices,health and safety, environmental responsibility, andbusiness ethics. In 2024, we revised the SupplierControl Procedure, Supplier Quality Manual,and Specifications for Supplier ComprehensiveCapabilities Review. To promote sustainable supplychain management, we follow a lifecycle approachto supplier management, covering admission,evaluation, and exit procedures. In 2024, the Grouphad a total of 364 suppliers, including 37 coresuppliers.

●We comprehensively evaluate 7 types of capabilitiesof comprehensive guarantee, nancial stability, devel-opment and design, procurement assurance, productmanufacturing, experimental monitoring and productnetwork and data security.

●We require all suppliers to have IATF 16949, ISO1400 and ISO 45001 system certications.

●

We require all suppliers to sign environmental commit-ments and the Integrity Commitment Letter.

●In 2024, we added two new evaluation dimensions tothe supplier access assessment: ESG capability andfunctional safety. The percentages of the scores ofESG capability and functional safety are 5% and 3%respectively.

●We regularly assess the 7 capabilitiesinvolved in the evaluation of the ac-cess phase.

●We conduct monthly performance as-sessments from the 4 dimensions ofquality, service, technology and cost,and require suppliers with problems tocomplete rectications in a timely man-ner.

●Based on the comprehensive evalua-tion scores and categories of suppliers,we manage suppliers by classicationand category, namely class A, B and C.

●We require suppliers with unqualified audit re-sults to carry out rectication and organize expertteams to provide assistance.

●The supplier whose rectifications are not com-pleted multiple times shall be phased out.

●For suppliers whose performance fails to meetstandards for a long time, we reduce the propor-tion of their product supply and cancel their qual-ication for developing new products.

●Suppliers that have serious accidents in quality,environmental pollution, business ethics shall bephased out.

We actively conduct integrity promotion and external systemcertication of our supply chain system. As of the end of thereporting period, 100% of Seres Group’s suppliers signedthe Integrity Commitment Letter and all suppliers haveobtained the IATF 16949 system certication.

Suppliers certied under ISO 14001Suppliers certied under IATF 16949

Sustainable Supply Chain

Supplier Management System

Supplier AccessSupplier Assessment Supplier Phase-out and Exit

Supplier Life Cycle Management System

2024 Suppliers’ External System Certication

85%100%

https://cdn-web.seres.cn/uploads/20241204/1dd040cf9408f510b23260720f8019eb.pdf

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

We have formulated systems such as the Supplier Quality ControlProcedure, Management Measures for High Quality Risk Suppliersand Management Measures for Second-Party Audit on Suppliers,clarifying the requirements on the stability and reliability of thesupplier’s parts production process and on supplier quality planning.In 2024, we strengthened quality control measures across Tier-1, Tier-2, and Tier-3 suppliers, comprehensively protecting productquality and safety.

We continue to conduct regular quality audits for our suppliers,assessing their performance and offering support to help themimprove. Each month, we identify suppliers with consistently poorquality and add them to our high-risk list. Over the reporting period,we carried out product, process, and quality audits for 84 suppliers.on high-risk supplier system, and conducted periodic on-sitecharacteristic inspections of risky suppliers.To uphold our quality standards, we also focus on supplier training.During the reporting period, we organized seven training sessions,engaging 364 suppliers, covering our entire supplier base, tostrengthen their quality management capabilities.

Supplier Quality Classication and Control Measures

Tier-1Suppliers（DirectProcurement）

Tier-2Suppliers

（IndirectProcurement）

Tier-3Suppliers

（Raw MaterialSupplier）

All Tier-1 suppliers must be IATF 16949certied, ensuring compliance with strict qualitymanagement standards. We conduct regularsecond-party audits, including scheduled on-siteinspections and unannounced reviews, covering100% of suppliers within a three-year cycle.

We have formulated the Key Vertical ChainSupplier Management Measures. All Tier-2suppliers are required to obtain ISO 9001 oran equivalent quality certification. We conductannual audits for suppliers with identifiedproduct quality risks, ensuring proper qualitycontrol measures are in place.

Tier-3 suppliers must obtain an IATF 16949certication or an equivalent third-party qualitymanagement system certification. While rawmaterial suppliers typically pose lower productquality risks, we conduct second-party auditsas needed in response to quality concerns orpotential risks to ensure compliance with qualitymanagement standards.

Supplier Quality Control

During the reporting period, we organized

training sessions,covering our100%

suppliers

engaging

suppliers

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

We have formulated the Procurement Risk Management Measuresto outline key ESG risk factors suppliers must address in theiroperations. These include product quality, legal compliance,business ethics, and environmental impact. ESG-related risks arealso integrated into our procurement risk control process.We conduct quarterly supplier risk assessments, including ESGrisks, and take countermeasures against risk points to ensuresmooth supply chain operations. In 2024, we audited 55 supplierson labor practices, health and safety, environmental impact, ethics,and management systems, achieving an 85% rectication rate. Nosignicant risks were identied during this process.We have established a supply chain emergency managementsystem to monitor and assess potential risks in supplier operations,public sentiment, and natural disasters. Using our SCM

system,we track these risks in real time and map out detailed supplier riskprofiles to respond swiftly and mitigate disruptions. To enhancesupply chain flexibility and reliability, we promote the Vendor-Managed Inventory (VMI) model, optimizing inventory managementfor better efficiency. In 2024, we expanded our procurementchannels to reduce reliance on single suppliers, strengtheningoverall supply chain resilience. Meanwhile, we introduced origintracking for electronic materials at the per-vehicle level, ensuring fulltraceability from raw material procurement through manufacturingand logistics. This approach helps maintain smooth and efficientoperations at every stage.

Supply Chain Risk Management

SCM is short for Supply Chain Management System.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

We view green supply chain management as a key part of our transformation and development strategy.To standardize our approach, we have complied and released the Green Supply Chain ManagementMeasures, creating a comprehensive framework that covers supplier data collection, environmentalperformance oversight, battery supplier management, and annual training programs. At the same time,we have developed systems for green supplier selection and carbon reduction performance tracking forcore suppliers, working closely with partners across the supply chain to drive low-carbon development.We have also set clear sustainability targets for all suppliers, including green electricity usage, recycledmaterial ratios, carbon emission intensity, and energy consumption per unit. Using a carbon footprintdatabase for suppliers, we continuously track these metrics, integrating them into supplier evaluationsand contract decisions.To reduce the end-of-life environmental impact of our products and promote a circular economy, we haveimplemented battery traceability measures to ensure that data on vehicle batteries, from production andsales to replacement and recycling, is properly recorded and reported in line with national regulations.Additionally, we have partnered with certified recycling companies through waste battery recyclingagreements to safely collect and dispose of replaced battery packs from maintenance operations.

●

Establish reasonable carbon emission targets for vehicles and key parts based on marketpositioning and industry trends.

●Develop modular and integrated low-carbon technologies to reduce emissions from productionand transportation.

●

Prioritize high-performance, low-carbon materials from the green materials database incomponent design.

●

Update and release the “Automobile Banned Substances, Recyclability, and DismantlingManagement Measures” to standardize the consistent management of banned substances andrecyclable products.

●

Incorporate banned substance requirements into technical specifications, drawings, andagreements with suppliers, requiring them to submit a Banned Substance Commitment Letterand use eco-friendly, recyclable materials.

●Maximize testing conditions to improve equipment e?ciency and minimize energy consumption.

●Require suppliers to conduct third-party banned substance testing after componentdevelopment to ensure compliance with enterprise standards.

●Mandate suppliers to classify offcut materials, drainage waste, and end-of-life products,partnering with certied recycling agencies for proper reuse and disposal.

●Enforce strict banned substance controls, ensuring consistency in mass production throughhigh-frequency sampling to verify compliance with regulatory standards.

Parts Design Phase

Parts Validation Phase

Parts Mass Production Phase

Green Supply Chain Targets: By 2030，

Parts Suppliers’ Green Management Measures

100 %

of suppliers willmeet green supplier requirements

Green Supply Chain Management

Supplier carbon emissions willdecrease by

25%

40%

of suppliers use renewableenergy in the production

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding Communities

We are committed to building strong, collaborative relationshipswith our suppliers. By maintaining open communication throughphone calls, emails, business meetings, product exhibitions, andspecialized technical exchanges, we stay attuned to their needs andfeedback. Together, we work on solutions that drive mutual success.In the early stages of new projects, we co-develop parts andsystems with top suppliers, leveraging shared resources to optimizeboth design and production. To further support our suppliers, weorganize regular technical exchanges and training sessions, helpingthem strengthen their expertise and improve production capabilities.During the reporting period, we provided training covering 100%of our suppliers, focusing on key topics such as new technologyapplications, process optimization, quality control, environmentalprotection, and sustainable development. This ensures that suppliersremain aligned with our technological standards and businessexpectations.

In 2024, we dispatched a “triangle team” composed of R&D,quality control and procurement personnel to the supplier’s site,strengthening collaboration by optimizing production processes andgaining a deeper understanding into their products. At the sametime, we partnered with top industry suppliers to host technology co-creation days and high-end exchange events, fostering innovationand shared expertise. These initiatives led to the identificationof over 400 new technologies, with over 100 selected for furtheranalysis and promotion.

We have joined the Collaborative Innovation Center of Supply Chain in the Automobile Industry (S100), established by the China EV 100,committing to co-developing a high-quality ecosystem with our partners. S100 focuses on identifying supply chain vulnerabilities and risksin China, providing early warnings and solutions. As a high-level think tank, it works to address common industry challenges, promotestandardization, and explore new supply chain models to ensure supply chain stable operations. By becoming a member, we aim to enhance riskmitigation strategies and strengthen supply chain management through collaboration with other industry leaders.

ESG and Sustainable Supply Chain Management Training for Suppliers

Suppliers Exchange Activity

Communication with and Empowerment of Suppliers

These initiatives led to the identication of over

new technologies

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesSocial Public Welfare

Rural RevitalizationWe are committed to making a positive social impact by supporting rural revitalization, education, and other public welfare initiatives. During thereporting period, we contributed RMB 8,7678 million to charitable and social programs, helping create a more harmonious and prosperous society.

We actively promote rural revitalization and respond to the "TenThousand Enterprises Revitalize Ten Thousand Villages" initiativeof the All-China Federation of Industry and Commerce. In 2024, thecompany made multiple purchases of local agricultural products inplaces such as Wuxi and Fengjie in Chongqing, helping farmersincrease their incomes and promoting the development of localcharacteristic agricultural industries. At the same time, the company'stotal investment in rural revitalization reached RMB 4.4916 million.Among them, the company purchased agricultural products such asnavel oranges, cured meat, and rice in the Wuxi and Fengjie areasof Chongqing, totaling RMB 4.1288 million (consumer assistance).

Supporting Rural Revitalization Through Purchasing

Agricultural Products

In terms of donations, the company's amount of public welfare andcharitable donations reached RMB 10.3397 million in 2024. At thedonation ceremony of the "Hundreds of Enterprises Connect withHundreds of Villages" assistance action for border villages between theChongqing Federation of Industry and Commerce and Zhongba Countyin Shigatse City, we donated RMB 250,000 to Zhongba County. Theaim is to promote the economic and social development of the Shigatseregion, improve the living standards of the local people, and contribute tobuilding a happy and beautiful new Tibet. In addition, we also donated aLandian automobile worth RMB 112,800 to Dianjiang County, Chongqing,to support the local implementation of rural revitalization work.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and InclusionCaring for Talent

Responsible Supply forBuilding CommunitiesEducation SupportWe strongly support the development of culture, sports andeducation undertakings by donating educational resources andstrengthening teaching initiatives. Through these efforts, weactively contribute to the national strategy of “Developing a QualityWorkforce”, helping to build stronger educational foundations.

In 2024, we donated RMB 1.5 million in two batches toChongqing No. 1 Secondary School, supporting the “SeresAutomobile Talents” program. This program aims to cultivatetop-notch innovative talents in Chongqing, supportingstudents excellent in character and learning from familiesin need to complete high-school education, thereby furtherpromoting local education development.

“Seres Automobile Talents” University Tour Collective Blood Donation Activity

Company’s Education Donations in 2024

In August 2024, in addition to the RMB 1.5 million donationsfor the “Seres Automobile Talents” program at ChongqingNo. 1 Secondary School, we donated an additional RMB400,000 for the renovation and upgrading of teachingfacilities such as science and innovation laboratoriesand computer classrooms. This initiative aims to providestudents with a better learning environment, helping themgrow and develop.

In September 2024, we donated RMB 150,000 to Xi'anJiaotong University to support the development of itseducational programs, supporting its greater achievement intechnological innovation and talent cultivation.

Case：

Supporting “Seres Automobile Talents”Program

Case：

Collective Blood Donation Volunteer ServiceActivity

Volunteer Activity

At Seres Group, we play an active role in giving back to thecommunity by engaging in community care and volunteerservices, including collective blood donation, elderly care visits,and environmental protection initiatives. Our dedicated volunteerteam is committed to making a positive impact through meaningfulactions. In 2024, we organized 370 volunteer activities, with 1,400participants contributing a total of 5,600 hours of service.

On November 20, 2024, we organized a collective blooddonation activity at the Changshou Base and Wuyun LakeHeadquarters. A total of 75 employees participated anddonated 24,500 ml of blood, bringing the hope of life topatients in urgent need of blood.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Elderly Care Volunteer Activity

On October 11, 2024, volunteers from our various Party branches and Youth League branchescarried out the “Accompanied by AITO，Warmth in the Double Ninth Festival” elderly care volunteeractivity at Fusheng Elderly Care Service Center, with a total of 15 volunteers participating. In thistwo-hour activity, volunteers not only sent gifts to the elderly but also gave performances to expresstheir best wishes, actively promoting the social values of lial piety and respect for the elderly.

On November 23, 2024, we organized the “Environmental Protection Guardians· Protecting GreenMountains” volunteer activity at Jinyun Mountain National Nature Reserve with a total of 21 Partyand League volunteers and 5 environmental guardians participating. Through cleaning up themountains and forests, the activity aimed to protect biodiversity, promote environmental awarenessand contribute to ecological conservation.

Case：

“Caring for Children and Building Dreams for Children” June 1 Children’s DayCharitable Volunteer Activity

Case：

“Accompanied by AITO，Warmth in the Double Ninth Festival” Elderly CareVolunteer Activity

Charitable Volunteer Activity

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesShanghai Stock Exchange IndexDimensionNumberTopics

CorrespondingArticles

Chapters

Environment

1Climate Change MitigationArticle 21-28Climate Change Response

Pollutant EmissionManagement

Article 30Green Production3Waste DisposalArticle 31

Green ProductionGreen Logistics

Ecosystem & BiodiversityProtection

Article 32Climate Change Response5Environmental ComplianceArticle 33Green Production6Energy E?ciencyArticle 35Green Production7Water Resource ManagementArticle 36Green Production8Circular EconomyArticle 37

Green DesignGreen MaterialsGreen Logistics

Society

9Rural RevitalizationArticle 39Social Public Welfare10Social ContributionArticle 40Social Public Welfare

Innovation-DrivenDevelopment

Article 42Research and Innovation12Technology EthicsArticle 43Research and Innovation13Supply Chain SecurityArticle 45Sustainable Supply Chain

DimensionNumberTopics

CorrespondingArticles

Chapters

Society

14SME Equal TreatmentArticle 46Sustainable Supply Chain

Product/Service Safety &Quality

Article 47

Product Quality and SafetyUsers Service16Data Security & PrivacyArticle 48

Information Safety and PrivacyProtection17Employee WelfareArticle 50

Employee Rights and WelfareEmployee Training andDevelopmentOccupational Health and Safety

Governance

18Due DiligenceArticle 52ESG Management19Stakeholder EngagementArticle 53

Stakeholder EngagementCompliance Operations

Anti Business Bribery &Corruption

Article 55Business Ethics21Anti-Unfair CompetitionArticle 56Business Ethics

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

ESG Report Assurance Statement

China Quality Certification Centre Co., Ltd.(CQC), commissioned by Seres Group Co., Ltd.(hereinafter referred to as Seres), conducted independent verification on SERES GROUP 2024Environmental, Social and Governance Report.(hereinafter referred to as the ESG Report)

Seres was responsible for collecting, summarizing, analyzing, and disclosing the informationand data mentioned in the ESG Report.CQC implemented report verification within the scopespecied in the agreement with Seres. Seres is the designated user of this statement.

This statement was based on the assurance activities conducted on the ESG Report preparedby Seres with reference to Shanghai Stock Exchange, Self-Regulatory Guidelines for ListedCompanies on the Shanghai Stock Exchange No. 14 - Sustainability Report (Trial), United NationsSustainable Development Goals , and Seres was responsible for the completeness and authenticityof the information and data in the ESG Report.

Scope of Assurance

Information and data disclosed in the ESG report

Basis for Assurance

AA1000 V3，Type 2, Moderate Assurance

Assurance Methods

The methods used in this assurance include but are not limited to:

：

a) Report review;

b) Interviews；

c) Verication of documents, records, certicates, bills, and other materials;

d) Field verication;e) Trusted information source verication;f) Verication against disclosure basis;g) Recalculation/estimation;h) Conrmation of statistical, calculation/estimation processes.Assurance ConclusionsThe ESG report reflects the performance of Seres in environmental, social, and corporategovernance in 2024. The information disclosed is true and reliable, and with availability, timelinessand relevance well maintained, which basically meets the requirements of AA1000 V3 as follows:

Inclusivity: Seres has identied both internal and external stakeholders, including governmentand regulatory agencies, customers, employees, shareholders/investors, partners, non-governmental organizations,press. In the report preparation process, the expectations and needs ofstakeholders have been considered.Materiality: Based on the principle of impact materiality , Seres has identied and prioritizedtheir ESG issues, integrating the management of various issues into the company's daily operations.The overall content of the ESG Report meets the requirements of the materiality principle.Responsiveness: Seres has established a governance structure, management system andprocesses, as well as a communication mechanism with stakeholders, capable of taking action torespond to the demands of various stakeholders.

Impact: Through quantitative, qualitative, or a combination of both, Seres has disclosed themain impacts on stakeholders in terms of environment, society, and governance.

To: stakeholders of Seres Group Co., Ltd.

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding CommunitiesRecommendationsBased on the assurance ndings, it is recommended that:

■ Seres strengthen ESG performance monitoring, dynamically evaluate and adjust ESGperformance, and ensure the achievement and continuous improvement of ESG goals.Limitations■ This assurance was conducted using sampling methods based on quantitative and qualitativerisk analysis and the sampling scope was limited to the data and information selected in the ESGReport, not fully tracing or independently recalculating all raw data of Seres。■ This assurance only covered interviews and document review with Seres, and did not directlyinterview external stakeholders (such as suppliers, customers, etc.), nor did it contain independentverication of the information provided by external stakeholders of Seres.■ The data and information audited/veried by a third party in the ESG Report were not subjectto repeated verication during this assurance process.■ Some of the data and information in the ESG report cannot be compared and veried throughindependent sources. This assurance only evaluated their reasonableness.

■ Activities outside the scope of information disclosure were not included in this assurance;

■ The statement regarding the position, viewpoints, beliefs, goals, future developmentdirections, and commitments of Seres were not included in this assurance.

Statement on Independence and Verication Capability

A?liated with China Certication & Inspection Group (CCIC), CQC is a third-party professionalcertification body approved by the Chinese government and recognized by multiple foreigngovernments and international authoritative organizations. CQC can provide various managementsystems certification, product safety and performance certification, energy conservation andenvironmental certification, green and low-carbon technical services, management improvement,

personnel training, and other related technical services, as well as independent verication servicesfor social responsibility reports, sustainable development reports, and ESG reports。As an independent certication body, CQC ensured that there were no conicts of interest withSeres and its stakeholders during the assurance process of the ESG Report. All information in theESG Report was provided by Seres. CQC and the personnel conducting this assurance of the ESGReport were not involved in the preparation process of the ESG Report.

Note: In case of any inconsistency or discrepancy, the Chinese version of this assurance statementshall prevail, while the English translation is used for reference only.

President of CQC:

March 27, 2025Beijing, China

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operation

for a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

Reader feedbackDear readers,Thank you very much for sparing time to read the 2024 Environmental, Social and Governance (ESG) Report of Seres Group Co., Ltd. We look forward to your opinions and suggestions on the report and our work. Youmay send the completed questionnaire to us by mail, email after scanning or fax. You may also give us your valuable opinions directly. Thanks.

1. What kind of stakeholder does your organization belong to?

□Shareholder□Employees□Supplier□User□Government□Community□Bank□Academic institution□Other (specify here)_____________

2. What is your overall assessment of this report?

□Excellent□Good□Fair□ Poor

3. What do you think about the clarity, accuracy and completeness of the information and data disclosed in

this report?

□Excellent□Good□Fair□ Poor

4. How comprehensively do you think this report reects the economic responsibilities undertaken by the

Company?□Excellent□Good□Fair□ Poor

5. How comprehensively do you think this report reects the environmental responsibilities undertaken by

the company?□Excellent□Good□Fair□ Poor

6. How comprehensively do you think this report reflects the social responsibility undertaken by the

company?□Excellent□Good□Fair□ Poor

7. What do you think of the design and layout of this report?

□Excellent□Good□Fair□ Poor

8. What do you think needs to be improved most in this report?

□Integrity Governance, Steady Development□Innovation-Driven, Excellence in Products□Low-Carbon Operations, Green Future□Diversity & Inclusion, Talent Care□ Responsible Supply Chain, Thriving Communities

9. What not disclosed in this report would you like to know?

10. Do Do you have any opinions and suggestions on Seres Group's environmental, social and

governance and report preparation?

Contact:

Address: No.7 Wuyunhu Road, Shapingba District, Chongqing Municipality, ChinaPostal Code: 400000Email：

601127@seres.cn

Clean Governance,Steady Development

Innovation-Driven,Excellent Produces

Low-carbon Operationfor a Green Future

Diversity and Inclusion

Caring for Talent

Responsible Supply forBuilding Communities

爱股网

赛力斯(601127)_公司公告_赛力斯：2024年度环境、社会及管治(ESG)报告(英文版)