"Investor Network" Ge Fanmei
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April 19, Ideal Cars (2015. HK) released its first Environmental, Social and Governance (ESG) report, which comprehensively demonstrates the achievements and contributions of enterprises in five aspects: green operation, innovative products, compliance governance, inclusive care and warm society. In 2021, Ideal Auto will respond to the goal of carbon neutrality by developing its own range-increasing technology, thereby promoting the sustainable development of the company in the future.
ESG is an abbreviation for the evaluation system that integrates Environmental, Social, and Global. In January this year, the Shanghai Stock Exchange issued the Rules Governing the Listing of Stocks on the Shanghai Stock Exchange (Revised in January 2022), and the practice of ESG concept was highlighted.
On 15 April, the China Securities Regulatory Commission (CSRC) issued the Guidelines for the Management of Investor Relations of Listed Companies, which came into effect on 15 May. Among them, the main responsibilities of the investor relations management of listed companies are clarified, the requirements of the new development concept are implemented, and the environmental, social and governance (ESG) information of listed companies is added to the communication content.
With the gradual increase of regulators on the practice of ESG and the gradual implementation of relevant policies, the value of ESG has become increasingly prominent. Driven by the "carbon neutrality, carbon peak" policy, for the new energy automobile industry, most enterprises have become the leader in practicing ESG, while ensuring production capacity, improving ESG competitiveness, new energy vehicle companies have set an example.
Practice green development and low-carbon transformation
With the implementation of the national "double carbon" strategy, the domestic economic development model, energy structure, production and consumption mode will also undergo great changes. In order to achieve carbon neutrality and carbon peaking, the proportion of fossil energy will gradually decrease, and clean energy will gradually become the main energy force.
Based on this, the new energy sector, mainly photovoltaics, wind power, and new energy vehicles, has quickly become the "fragrant food" of the market, attracting a large amount of funds. Among them, new energy vehicles have become the main position of energy structure change, and green and low-carbon transformation has become a new road sign for the development of the automotive industry. As a pioneer in practicing ESG, new energy automobile enterprises in mainland China shoulder the mission of continuously promoting the "double carbon" process.
The ESG report aims to demonstrate the management, commitment, action and effectiveness of enterprises in sustainable development by demonstrating the achievements of enterprise development in the three major areas of environmental, social and governance. From the perspective of new car-making forces, Ideal Automobile, Xiaopeng Automobile, Weilai Automobile have been listed in the United States and Hong Kong stocks, and the first two car companies have issued their first ESG reports.
Specifically, on October 15, 2021, Xiaopeng Motors officially released its first ESG report, which is also the first ESG report released by China's new car-making enterprises with reference to international standards. As an advocate of intelligent vehicles, Xiaopeng Motors not only pays attention to zero emissions in the product life cycle, but also attaches great importance to energy conservation and emission reduction through intelligent manufacturing, enterprise operation, energy sources and other links.
According to the calculation of professional third-party institutions, compared with traditional fuel vehicles, the smart cars delivered by Xiaopeng Automobile in 2020 have reduced carbon emissions by a total of 5520 tons. By delivering zero-emission smart cars, Xiaopeng Motors has been able to promote energy conservation and emission reduction in social mobility.
Taking Zhaoqing Xiaopeng Automobile Intelligent Network Technology Industrial Park as an example, the painting workshop has been in line with the concept of sustainable development from the beginning of design, and the advanced pre-treatment film technology has reduced the slag production of waste paint slag by 94% and reduced energy consumption by more than 25%. In 2021, the total power generation capacity of photovoltaic power generation projects in Zhaoqing base will reach about 20 million kWh, and it is expected to reduce greenhouse gas emissions by about 11,000 tons of carbon dioxide equivalent. The photovoltaic power generation projects of the two major production bases in Guangzhou and Wuhan will also be connected to the grid in 2023 and 2025 respectively.
According to the ESG report released by Ideal Auto, Ideal Auto's self-developed extended-range electric system has created an electric mode of "urban point, long-distance power generation", the ideal ONE life cycle carbon dioxide emission value is 236.1 grams of carbon dioxide equivalent / km (total 35,415 kg), ideal car layout high-voltage pure electric technology, plans to launch high-voltage pure electric vehicle model from 2023. The Changzhou manufacturing base has been rated as a municipal green factory to achieve wastewater and waste gas discharge below the national standard.
It is worth mentioning that from public channels such as the official website of Weilai Automobile, its annual ESG report has not been found. So, why did WEILAI Automobile, which is listed in Hong Kong stocks and US stocks, not disclose ESG reports?
In fact, NIO was listed on the U.S. stock market in 2018, and ESG in the U.S. market belongs to a bottom-up development model. Currently, the U.S. Securities and Exchange Commission (SEC) does not have a mandatory ESG policy. Secondly, WEILAI Automobile was listed for the second time in Hong Kong stocks in March this year, and at present, its listing in Hong Kong stocks has just reached the full moon, and it may take time for the first ESG report to be released.
In fact, in addition to the new forces of car manufacturing, traditional car companies are also actively adapting to the development of the times, actively transforming to green and low-carbon, and actively laying out new energy vehicle tracks. For example, GAC Group, SAIC Motor, Jiangling Motors, BYD, Dongfeng Motor and other car companies.
For example, according to the social responsibility report released by GAC Group in 2021, in order to cope with the challenges brought by climate change, the Group built the "14th Five-Year Plan" energy conservation and emission reduction target system, with the vision of "actively responding to the national 'double carbon' goal, actively shouldering the environmental protection mission, and striving to be the leader of the green development of the automotive industry", focusing on the three directions of green development, low-carbon development and sustainable development, and comprehensively exerting efforts from the six key development areas of green production, green products, green supply chain, green travel, green finance and green community. Promote energy conservation and emission reduction with practical actions。
As the car company with the largest sales volume of new energy vehicles, BYD actively plays a demonstration role of leading enterprises in new energy vehicles in order to promote the development goal of "carbon peaking and carbon neutrality", strengthens the action and management of carbon emissions of enterprises, and accelerates the low-carbon transformation of the transportation industry and manufacturing industry through green technologies, products and solutions.
In 2021, BYD set up a carbon emission control committee, set up a work promotion team, announced the launch of carbon peaking and carbon neutrality planning research at the beginning of the year, launched the zero carbon park project of the corporate headquarters in August, and was awarded the first SGS commitment carbon neutrality certificate in China in November, and plans to complete the construction plan of the first zero-carbon park of the headquarters of the automobile enterprise in 2022. In addition, BYD was also invited to participate in the UNITED Nations COP26 Climate Summit and took the lead in signing the Global Memorandum of Understanding on Zero Emissions for Medium- and Heavy Vehicles to accelerate the zero-carbon development of medium- and heavy-duty vehicles.
By the end of 2021, BYD has sold more than 1.5 million new energy vehicles, reduced carbon dioxide emissions by more than 8.92 million tons, equivalent to planting 750 million trees, realized the commercial operation of the world's first Yunba demonstration line, and contributed effective solutions to global air pollution and traffic congestion.
Steady operation to create high-quality safety products
In the face of outstanding problems in resource and environmental constraints, new energy vehicle companies have taken practical actions to become the "forerunners" of green production and the "leaders" of green culture in the low-carbon transformation of the industry.
In terms of business operation, new energy vehicle companies also continue to innovate first and create excellent products. Taking the ideal car as an example, more than 2,700 quality standards are implemented before each car is delivered, the road test mileage of the assisted driving system reaches millions of kilometers throughout the year, and 100% of the suppliers pass the IATF 16949 certification.
In 2021, Ideal Auto's innovative R&D investment will reach 3.29 billion yuan, and the main R&D and innovation achievements include: self-developed next-generation extended-range electric system and high-voltage pure electric technology; full-stack self-developed driver assistance system; and intelligent cockpit system that provides comprehensive solutions for in-vehicle interaction. By the end of 2021, Ideal Auto has obtained a total of 1171 authorized patents and 494 registered and approved domestic trademarks. At present, through the establishment of a direct sales and service network, Ideal Auto provides users with a smooth experience from understanding, experience, purchase, payment to after-sales service.
As an enterprise with business spanning the four major industries of automobile, rail transit, new energy and electronics, BYD put forward the green dream of solar energy, energy storage power stations and electric vehicles as early as 2008, opening up the whole industrial chain link of energy from absorption, storage to application. After more than ten years of perseverance, BYD has achieved great development, and the four major industries of automobiles, rail transit, new energy and electronics have made major breakthroughs.
In particular, the passenger car sector has achieved a milestone leap forward and ushered in a period of technology, product and market explosion. With subversive technologies such as blade batteries, DM-i super hybrid, and e-platform 3.0, BYD adheres to the "two legs" of pure electric and plug-in hybrid, and will sell 740,000 vehicles in 2021, of which about 604,000 are new energy vehicles, ranking first in China's new energy vehicle sales for 9 consecutive years.
It is particularly worth mentioning that in 2021, BYD will lead the acceleration of new energy vehicles to change, almost single-handedly pulling lithium iron phosphate and plug-in hybrid back to the right path of industry development, solving safety pain points and resource tolerance problems, and accelerating the replacement of new energy vehicles with traditional fuel vehicles. BYD masters the core technologies of the whole industry chain such as batteries, motors, electronic controls and chips, promotes the development of the upstream and downstream industry chain supply chains, shares scientific and technological achievements with global peers, and strives to create a road from independent innovation to comprehensive open innovation.
Dongfeng Motor said in the 2021 social responsibility report that the company continues to improve product quality through advanced management processes, technologies and operational standards, and ensures that customers use Dongfeng light vehicles to achieve stable operation; the original intention of public welfare undertakings does not change, the company shares the results of enterprise development with employees, focuses on solving the practical difficulties of employees, and enhances employee satisfaction; adheres to practical actions to achieve harmonious coexistence of society, environment and stakeholders; the concept of safety, efficiency and environmental protection runs through the whole life cycle of products, as well as research and development, production, Sales, service and other whole process, to achieve customer value and multi-win win-win and unremitting efforts.
In recent years, GAC Group has been systematically promoting social responsibility management, continuously consolidating the foundation of corporate social responsibility knowledge at the management and executive levels, implementing diversified measures to effectively improve the ability to perform social responsibility duties; establishing a list of daily ESG management issues for each investment enterprise as the social responsibility execution layer; and carrying out normalized ESG training.
Actively participate in social welfare
In addition to assuming responsibility for the sustainable development of the economy, environment and society, new energy vehicle companies have always paid great attention to and actively participated in various charity projects, and carefully implemented charitable work such as poverty alleviation, disaster relief and relief, and education support.
According to the Ideal Auto ESG report, in 2021, Ideal Auto donated to the Henan Charity Federation for flood prevention and disaster relief work; donated to Shijiazhuang for epidemic prevention and control work; went to Inner Mongolia to carry out counterpart assistance for education, medical care and living environment; and fully supported the offline charity activities of car owners.
BYD is also actively donating money and materials to practice social responsibility. In 2021, BYD Charity Foundation donated more than 48 million yuan in materials and donations, mainly including: supporting Shenzhen's epidemic prevention and donating more than 12 million yuan of epidemic prevention materials; rushing to the flood in Zhengzhou and donating 20 million yuan for the first time; supporting the development of education and caring for the next generation; caring for the health of women, children and other social groups, and continuing to carry out the cerebral palsy children's assistance project, the "Shell Plan" caring for women's health public welfare projects, etc. Especially in terms of epidemic prevention and control, BYD has donated a total of more than 50 million yuan in donations and materials to support the prevention and control of the epidemic in more than 80 countries and regions around the world, showing the responsibility and international image of Chinese brands.
GAC Group mainly promotes rural revitalization and builds a "big help" pattern. In recent years, GAC Group has vigorously promoted industrial assistance, education assistance, consumption assistance and employment assistance, made up for the shortcomings of people's livelihood, developed projects to benefit the people, and stimulated endogenous power. In 2021, GAC Group invested 4.89 million yuan in rural revitalization funds, and purchased more than 23 million yuan of agricultural products in the corresponding areas through consumption assistance.
At the same time, gac group responds to the "Belt and Road" initiative and the spirit of the industrial aid to Xinjiang policy, promotes the high-quality development of the Xinjiang branch of GAC Passenger Vehicle Co., Ltd., promotes the sales of GAC brand products of Kashgar Huahui Automobile Sales service Co., Ltd., and increases local taxes. In addition, we will actively promote the Weinan cooperation project and invest 400 million yuan to build the GAC Northwest Commercial and Trade Center to help revitalize the northwest with industrial development.
Gac Group's social responsibility practice achievements are deeply recognized by the outside world, and in 2021, it won many honors such as the annual Guangdong-Hong Kong-Macao Greater Bay Area Social Responsibility Influence Benchmarking Enterprise, the "Excellent Enterprise of Sustainable Brand Communication" of the Outstanding Enterprise of Global Enterprise Sustainable Competitiveness, and the Top Ten Cases of "Safeguarding Ecological Civilization" in the Blue Book of Social Value of State-Owned Enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area. In terms of capital markets, GAC Group received a BB rating in the MSCI-ESG rating and was selected into the Hang Seng A-share Sustainable Enterprise Index.
Orient Securities believes that ESG is a new idea and new way to invest in and evaluate enterprises. In the decision-making process of analysis and investment, we must pay attention not only to the financial information of the enterprise, but also to the non-financial information of the ESG. Investments that consider ESG factors, also known as responsible investments, have fiduciary responsibilities and aim to promote companies to integrate social environment and other requirements into the business of the enterprise, reduce risks, achieve value creation, and generate long-term returns. (Produced by Thinking Finance)■
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