贵州茅台(600519):贵州茅台2025年环境、社会及治理（ESG）报告（英文版）
原标题:贵州茅台:贵州茅台2025年环境、社会及治理（ESG）报告（英文版） The key issues of concern are comprehensively identified from the results of the ESG materiality analysis of Kweichow Moutai and regular communication
corporate governance, production management, ESG management, quality management, risk and compliance management, discipline, In accordance with the Articles of Association and the Rules of Procedure for the Board of Directors, the Board shall convene at least two and supervision. In total, 527 policies and systems were reviewed and consolidated, including 5 fundamental systems, 99 Level-1 systems, meetings each year, which may be held only when more than half of the directors are present, and Board resolutions require the approval 240 Level-2 systems, and 183 Level-3 systems, further strengthening its compliance and risk management defenses. of more than half of all directors. In 2025, the Company convened 16 Board meetings, with a 100% attendance rate. The Company has established a sound director nomination and appointment mechanism. In accordance with the Articles of Association, Mana shareholder representatives, and other relevant parties to ensure fairness and effectiveness. As of the end of the reporting period, the Political Work Style Ideological Organizational Armed Forces, Petitions, and Trade Union & Youth average tenure of directors was 1.85 years. Development Development Development Development Confidentiality Management League Development appointed Mr. Wang Xin, an accounting professional, as the convener of the independent directors. include at least one legal professional with expertise in risk and compliance management, in order to ensure the professionalism Board meetings' independent directors com eme Director and Acting WANG Li Female √ √ √ Annual Objectives Analysis Improvement & Innovation General Manager GUO Tianyong Male Independent Director / √ √ Remuneration Policy Risk and Compliance Management Regarding the remuneration policy, we have developed differentiated remuneration management systems and plans for The Company continues to strengthen institutional development, resource investment, and culture building, systematically directors and the management, including fixed remuneration, annual performance-based remuneration and tenure incentives, enhancing its ability to identify, respond to, and control risks, continuously enhancing risk and compliance management to incentivize directors and managers to create long-term value. In 2025, we continued to refine the performance assessment capabilities. system for Board members, taking into account our production, operations, and management, the progress of business targets, the implementation of financial budgets, and the performance of duties. In 2025, the Company invested more than RMB 40 million in risk and compliance management, primarily for the development requirements of the Guidelines of the Shanghai Stock Exchange on the Self-Regulation of Listed Companies No.5-Transactions 6 of its risk management system and compliance mechanisms . The company continues to strengthen resource allocation and and Related Transactions, ensuring that the amount of related-party transactions remains within the quotas approved by the reinforce risk and compliance management, thereby preventing potential major losses and enhancing business resilience and Board. When deliberating on related-party transaction proposals, related shareholders and directors abstain from voting in financial soundness. accordance with regulations. 6 In 2025, the Company organized special compliance management training covering the prevention of risk points in contract The Company has established a robust risk management process. Based on industry regulatory requirements, corporate In 2025 production and investment management, asset and fund management, R&D and and Personal Information Protection during the reporting period, covering the company Information Security Management System Certificate innovation, human resources, engineering projects, procurement, and contract manage- and its subordinate units. In 2025, the Company maintained the effective operation of its ment. We systematically conduct risk identification and process validation to drive dual ISO 27001 information security management system certification, further consolidating the Closed-Loop Network and Information Security Management Cybersecurity Audit and Risk Assessment The Company implemented the "three synchronizations" requirements for network and information security and applied the In 2025, the Company advanced cybersecurity audits and risk assessments. Based on third-party audit results, it issued the PDCA cycle to build a closed-loop security operations management system covering the full process of prediction, protection, Information Systems Audit - Internal Report of Kweichow Moutai Co., Ltd. to continuously guide business improvement. It also detection, and response, thereby forming a continuously optimized and dynamically adaptive network and information used technique such as vulnerability scanning, penetration testing, and configuration reviews, together with policy reviews security governance mechanism. In 2025, the Company achieved its target of zero cybersecurity incidents and recorded no and personnel interviews, to assess risks relating to networks, hosts, applications, and data.Closed-Loop Network and Information Security Management Cybersecurity Audit and Risk Assessment The Company implemented the "three synchronizations" requirements for network and information security and applied the In 2025, the Company advanced cybersecurity audits and risk assessments. Based on third-party audit results, it issued the PDCA cycle to build a closed-loop security operations management system covering the full process of prediction, protection, Information Systems Audit - Internal Report of Kweichow Moutai Co., Ltd. to continuously guide business improvement. It also detection, and response, thereby forming a continuously optimized and dynamically adaptive network and information used technique such as vulnerability scanning, penetration testing, and configuration reviews, together with policy reviews security governance mechanism. In 2025, the Company achieved its target of zero cybersecurity incidents and recorded no and personnel interviews, to assess risks relating to networks, hosts, applications, and data. Policies Regarding Business Ethics The Company upholds the philosophy of integrity operations, firmly cracks down on corrupt conduct, and carries out anti-money laundering and anti-unfair competition communication and education in an orderly manner, thereby ensuring compliant and The Company fosters a clean and upright business ecosystem and publicly discloses the Business Ethics Policy of Kweichow stable operations. 9 Moutai Co., Ltd. and the Kweichow Moutai Co., Ltd. Supplier Code of Conduct , clearly setting out anti-corruption and anti- bribery requirements for suppliers and distributors. Anti-commercial bribery clauses are included in contracts, and integrity responsibility letters are signed. Principles of Integrity and Business Ethics The Company has built a supply chain compliance ecosystem in which risks are controllable, violations are traceable, and continuous improvement is possible. It requires suppliers to formulate anti-corruption policies and has established a verification process of "document collection - review and scoring - application of results," under which materials submitted by suppliers are strictly examined to verify the effectiveness, compliance, and implementation of their anti-corruption policies. Comply with laws and regulations governing fair competition and eliminate Fair Competition monopoly and unfair competition. In 2025, the company engaged a third party to conduct audits on suppliers' business ethics and anti-corruption management practices. The audit scope covered the implementation of the company's business ethics policies toward suppliers, market Anti-Commercial Bribery Enforce a zero-tolerance policy and strengthen compliance management and conduct, contract terms, and assessed the effectiveness of the suppliers' ESG assessment mechanisms and whistleblowing and Anti-Corruption oversight of business partners. channels. Anti-Money Laundering Strictly prohibit participation in or facilitation of any form of money laundering. Anti-Corruption and Anti-Bribery Requirements for Suppliers Kweichow Moutai Co., Ltd. Business Ethics Policy Prohibition of Insider Strictly prohibit insiders from using undisclosed information for trading or from Trading disclosing such information. We strengthen the management and control of anti-commercial bribery and anti-corruption risks among business partners; clearly state anti-commercial bribery and anti-corruption declarations and requirements in business Strictly prohibit employees and stakeholders from harming the Company's interests interactions; prohibit any commercial bribery and corruption.Anti-Fraud through fraud or other improper means. We require all business partners, including all suppliers, to formulate anti-corruption policies and implement corresponding programs to verify compliance. Kweichow Moutai Co., Ltd. Supplier Code of Conduct We implement monitoring programs for all critical suppliers to verify their compliance with anti-corruption and other compliance policies. In 2025, the Company carried out a comprehensive review and taken strict actions against suppliers who have violated the Company's anti-corruption policies in recent years, placing seven suppliers involved in serious violations or disciplinary breaches on the blacklist. Integrity-Based Operations and Culture Building Case Anti-Money Laundering Awareness Training The Company regularly conducts integrity education activities, including policy roadshows, warning education, field learning, and communication on integrity culture, to reinforce consensus on integrity-based operations. In August 2025, the Company, together with the head office of Bank of China, organized training on cross-border funds management and accounting statement operations. The training focused on the identification and prevention of anti-money laundering risks and provided detailed interpretation based on practical cases such as cross-border In 2025 trade fund settlement and risk management, effectively enhancing employees' risk awareness. to the Board, management, all employees (including full-time, part-time, seasonal, temporary, fixed-term and contractual employees), suppliers, and other stakeholders, the Company delivered a total of covering 1,048sessions 34,992 of business ethics and integrity culture training employees covering with an employee cover rate of 800+ 100% Anti-Money Laundering Training suppliersThe Company carries out diverse and content-rich integrity education activities, enhancing integrity awareness and reinforcing the line of defense against misconduct. The Company attaches great importance to compliance construction throughout the supply chain ecosystem and extends business ethics training to all partners, including suppliers and contractors.In 2025, the Company organized senior executives, personnel in key positions, and grassroots Party organizations to The Company invited third parties to deliver special business ethics training to all suppliers, contractors, and other visit an integrity education base to receive integrity culture education. Through centralized viewing of educational partners. The training was mainly conducted offline, supplemented by online participation. It focused on legal videos such as One Day in Life and Personal Testimonies, as well as on-site instruction from disciplinary personnel, the requirements and often-overlooked forms of commercial bribery, providing in-depth analysis of compliance risks in Company further promoted the cultivation of integrity awareness. key links such as bidding and procurement, and business entertainment, thereby strengthening the prevention and control of integrity risks in the supply chain.Whistleblower Protection Case Integrity Briefing for Contractors The Company continues to improve the work of monitoring, reporting, and handling complaints relating to business ethics. In compliance with the Regulations on Letters and Visits and the Rules of the Discipline Inspection and Supervision Organs In October 2025, the Company held a symposium for contractors and delivered an integrity briefing to business for Handling Accusations and Complaints, the Company formulated the Measures for the Management of Letters and Visits, partners, explaining anti-corruption policies and compliance requirements, clarifying business ethics red lines, and clearly defining the division of responsibilities and operating procedures for complaints and reports, so as to ensure timely building a clean, mutually beneficial cooperation ecosystem. handling. The Company encourages employees, users, and other stakeholders to supervise and report violations of discipline, regulations, and laws, and publicly discloses smooth reporting channels, including a reporting hotline, reporting website, and reporting mailbox. Upon receiving reports, the Company handles them strictly in accordance with the prescribed process.Whistleblower Protection Case Integrity Briefing for Contractors The Company continues to improve the work of monitoring, reporting, and handling complaints relating to business ethics. In compliance with the Regulations on Letters and Visits and the Rules of the Discipline Inspection and Supervision Organs In October 2025, the Company held a symposium for contractors and delivered an integrity briefing to business for Handling Accusations and Complaints, the Company formulated the Measures for the Management of Letters and Visits, partners, explaining anti-corruption policies and compliance requirements, clarifying business ethics red lines, and clearly defining the division of responsibilities and operating procedures for complaints and reports, so as to ensure timely building a clean, mutually beneficial cooperation ecosystem. handling. The Company encourages employees, users, and other stakeholders to supervise and report violations of discipline, regulations, and laws, and publicly discloses smooth reporting channels, including a reporting hotline, reporting website, and reporting mailbox. Upon receiving reports, the Company handles them strictly in accordance with the prescribed process. Comprehensive Management Classify and Response and Analysis Transfer Feedback Integrity Briefing for Business Partners Of which: invention patents pieces 79 105 industrial internet, operational management and control, smart parks, and digital infrastructure. Leveraging the secondary The Company actively played a leading role in the industry by spearheading the research, formulation, and revision of a number node for industrial internet identification resolution, the Company has explored pathways toward digital industrialization, using of key technical standards and by promoting the R&D and application of core industrial technologies, thereby providing Risk Impact evaluation is unsatisfactory, or whose quality, The Company established a dynamic Issues in supplier management, production, or delivery capabilities may lead to unstable or environmental protection, safety, integrity, or performance management mechanism Procurement non-conforming quality of supplied products, thereby affecting the Company's production other ESG-related performance fails to achieve consisting of "day-to-day monitoring + Quality Risk and operations. the Company within the prescribed remediation continuously improved supplier Factors such as weak supplier management and operations, or force majeure, may lead to Supply period, will lose cooperation eligibility and assessment and evaluation criteria, and supply delays, disruptions, or impediments to business progress, thereby weakening the Stability Risk be barred for one year from participating in in 2025 revised eight existing institutional responsiveness of the supply chain. subsidiaries/branches. Suppliers whose ESG on the Management of Suppliers of If suppliers fail to comply with laws and regulations, industry regulatory requirements, and Supply Chain performance has a significant adverse impact Packaging and Storage Materials, thereby the Company's supplier management rules during cooperation, supply-chain compliance risks Compliance Risk or involves serious circumstances will be placed strengthening the basis for supplier may arise. Collaborative Supplier Development The Company has extended its "Time-Space-Method (skill and technique)" originality quality management model upstream along the supply chain and implemented the initiative to "move quality control one kilometer closer to the source." Through Deepen Green Engagement and Improve Equipment production line inspections, product sampling, and on-site quality diagnostics, it has strengthened quality control at the Communication Energy Efficiency source. At the same time, the Company has carried out both routine joint inspections and surprise spot checks to exercise in- depth management over critical suppliers. During the reporting period, the Company completed 95 on-site inspections in The Company hosted a zero-carbon green In all new construction and retrofit projects, total and applied a closed-loop process of issue listing, time-bound rectification, and verification-based closeout to address procurement and supply chain conference the Company gives priority to energy-efficient identified issues. and signed on-site the Initiative for Jointly equipment such as high-efficiency transformers For many years, the Company has provided technical support to suppliers. During the reporting period, combining remote Building a Green and Sustainable Supply Chain, and IE5 motors, improving energy efficiency from guidance with on-site assistance, it adopted a full-process collaboration model of "assessment - feedback - support - strengthening collaboration across the industrial the source. verification" to help suppliers build ESG management systems, calculate carbon footprints, and develop energy-saving and chain and guiding suppliers to put green and low- emissions-reduction technologies. The Company visited 33 supplier sites in total to conduct quality diagnostics, verification, carbon practices into action. training, and support, helping suppliers shift from externally driven compliance to internally embedded capability. Through symposiums, exchanges, and dedicated ESG training, the Company communicated its quality philosophy and ESG Explore Zero- Advance the Green Transition management requirements to suppliers. In 2025, it organized three ESG-focused training sessions, covering more than 280 Carbon Pilots of Critical Suppliers supplier participations, and conducted 71 supplier training sessions of various types, covering 820 supplier participations in total, effectively helping suppliers understand the Company's management standards and ESG policies. The Company actively explored innovative Jingqi Glass Company, the core bottle supplier, In 2025, supplier satisfaction reached 97.5%, and the rate of suppliers receiving excellent contract performance evaluations initiatives, including the development of a zero- has achieved full coverage of green electricity use. reached 94.2%, helping to build a stable, collaborative, and sustainable supply chain ecosystem. carbon industrial park at the Tanchang Packaging Logistics Park, and low-carbon pathway studies for warehousing and logistics, using pilot projects Sustainable Development of the Supply Chain to drive emissions reduction across the full-chain. In 2025, the Company established a green supplier assessment mechanism and built a green evaluation and ESG assessment system covering all suppliers. This system guides and incentivizes suppliers to conserve energy and reduce carbon emissions. It supported 14 suppliers in obtaining green and low-carbon certification, 22 suppliers in being recognized as national- or Key Tasks in Building the 2025 Green Supplier Assessment System In 2025, the Company convened its Procurement and Supply Chain Conference to review annual procurement performance, plan for the coming year, and recognize outstanding partners. The event achieved full-process carbon The Company formulated and implemented four green standards, including the Green Evaluation Standard for neutrality certification by China Environmental United (Beijing) Certification Center Co., Ltd. and was awarded a Packaging Material Suppliers for Moutai Baijiu, requiring suppliers to follow the 3R1D principle when designing "Carbon Neutrality Declaration Certificate," fulfilling its goal of hosting a "zero-carbon conference. and procuring raw materials for packaging. Assessment results are linked to order allocation to create an incentive mechanism. Evaluation indicators cover energy saving, resource consumption reduction, technology reserves for green packaging R&D, and green electricity use. By increasing the weighting of indicators such as carbon accounting, carbon footprint evaluation, and green material application, the Company further strengthened guidance for suppliers' emissions-reduction practices. In 2025, the Company completed self-assessments and third-party assessments for 10 core suppliers, whose deliveries accounted for more than 70% of the total volume of four major categories of packaging materials. The Company formulated and implemented the Guidelines for ESG Management Assessment Rules for Moutai Baijiu Packaging Material Suppliers, which include topics such as climate change, low-carbon emissions reduction, energy and water conservation, and the circular economy under the environmental dimension. In 2025, the The Company optimized the ESG Assessment Rules for Organic Raw Material Suppliers by making energy saving （未完）  |