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ESG

Sustainable management

Sustainable Development Management Strategy

In pursuit of sustainable development of the Corporation and in response to the increasingly tensions in global competition, YungShin Group focuses on its business ethos. Internally, the Group concentrates on management and investment; externally, it expands its business operation and persist in implementing Corporation’s strategies To unlock the Corporation's potential and for the revenue and profits to continue to rise, in addition to employing the strategy of vertical integration, extending from APIs to preparations business, we have a comprehensive strategy towards upstream, midstream, and downstream of the industry, and promote regional standard expansion. We gradually transform and expand the scope of our business to enhance the competitiveness of the Group. Our goal is to maintain stable operations and create long-lasting, stable economic value. We wish to give back to our investors, employees, clients, supply chain, the government, society and other stakeholders, and continue to uphold our corporate image of “Protecting citizens’ health, caring for society”. Starting from Taiwan, we move towards the international stage, with a goal of upholding people’s health and reaching sustainable development of our enterprise.

The United Nations passed the 2030 Sustainable Development plan in 2015 and put forward 17 Sustainable Development Goals, leading the governments, enterprises and organizations of the world to come together and create a sustainable future. In response to the worldwide sustainability trend, YungShin Group employs 17 Sustainable Development Goals as reference when developing our strategies and actions for sustainable development:

Environment
Section Sustainability Strategy SDGs SDGs Sub-Projects Sustainability Actions
Environmental Sustainability

Environmental Sustainability Conduct energy resources management

Continue to improve production process, provide eco-friendly products

 SDG 3: Good Health and Well-Being：
3.9 Before 2030, greatly reduce the number of deaths and sicknesses related to environmental hazards such as harmful chemical substances, air pollution, water pollution, soil pollution.
  • Installation of water treatment equipment and testing devices.
  • Online real-time wastewater quality inspection, which will ensure the discharged water has no impact on the environment and health.
  • Waste segregation and clean-up management, that will enable increased recycling opportunities and effective waste management.
SDG 6: Clean Water and Sanitation
6.3 Before 2030, cut the untreated wastewater amount by half through pollution reduction, elimination of waste disposal, improvement of water quality through the reduction of harmful chemicals and materials release. Moreover, improve the worldwide water resource recycling ratio and safe-reuse ratio.
SDG 12: Responsible Consumption and Production
12.4 Before 2020, in accordance with an agreed international framework, in the life cycle of chemicals and waste, largely reduce its release into the air, water and soil. Do so by following environmentally-friendly methods to improve chemical and waste management. This way their adverse effects towards human health and environment can be reduced.
Governance
Section Sustainability Strategy SDGs SDGs Sub-Projects Sustainability Actions
Corporate Governance Create a corporate culture based on integrity.
Continue to generate profit through robust operation.

SDGs 8: Decent Work and Economic Growth

8.1 Sustainable Economic Growth

8.2 Improve the production capabilities of the economy through diversification, technology upgrades and innovation. This includes focusing on high additional value and workforce-concentrated industry.

  • Build a comprehensive governance framework and system.
  • Find pride in integrity and publicly disclose information related to finances, stock affairs, investor conferences, etc.
  • Attend investor conferences held by brokerage firms, schedule face-to-face talks with investors.
  • Expand new products and move towards new foreign markets and clients.
  • All new employees have signed the Employee Code of Conduct Approval Form upon joining the Corporation, which strictly prohibits them from exhibiting any dishonest behaviors.
Product Liability

Strictly inspect medicine safety and quality.

Safeguard product user health.

SDG 3: Good Health and Well-Being

3.3 Before 2030, put an end to AIDS, tuberculosis, malaria and neglected tropical diseases. Additionally, combat hepatitis, waterborne diseases and other infectious diseases.

3.b Support affordable vaccine and medicine research, its development and widespread usage.
  • Perform product quality and safety management through product record system.
  • Continue R&D investment

SDG 12: Responsible Consumption and Production

12.6 Encourage the implementation of sustainable development of business practices, especially for huge-scale and international companies, and also include the sustainability information into their reporting period.
Social
Section Sustainability Strategy SDGs SDGs Sub-Projects Sustainability Actions
Happy Workplace Create friendly work environment.
Cultivate professional talents and match talents with the right roles.

SDGs 8: Decent Work and Economic Growth

8.8 Protect labor rights and benefits, promote work environment safety, including migratory labor, especially for women and individuals performing hazardous work.
  • Provide appropriate welfare for the employees.
  • Conduct various professional trainings, cultivate professional talents.
  • Strengthen relevant workplace safety management and employee health. management
Social Responsibility Attend to investment in contributing to the society.
Create vision of social co-prosperity.

SDG 11: Sustainable Cities and Communities

11.7 Before 2030, provide safe, tolerant and useful green common spaces for all people, especially women, children, elderly and people with disabilities.

11.a Strengthen country and district development plans, promote positive connection between society and environment in cities, suburbs as well as urban and rural areas.
  • Continue to invest into social involvement, solve social problems.
  • Every year, hold a New Year’s Day mountain clean-up hiking events, enhancing environment tidiness and awareness.
  • Established TienTe Lee Biomedical Foundation and Yung Shin Social Welfare Foundation.
  • Established the YungShin Sports Park open to the public free of charge.
  • Established the Yung Shin Medical Museum, popularize general knowledge on appropriate medicine usage, record the modern history of the Taiwan's pharmaceutical industry development.
  • Established Yung Shin Elderly Nursing Home which integrates resources of YungShin Group and all sectors of society. Fulfill the social responsibility of caring for the elderly.

Identification of Material Topics

YungShin Group uses the “Sustainable Development Reporting Standards Traditional Chinese Translation, October 2021” provided by the Global Reporting Initiative (GRI) as reference for the sustainable industry trend. The group also adheres to the SASB, TCFD and other significant domestic and international regulations for development. The Group complies with crucial principles, using systematization to identify crucial stakeholders and sustainability related issues. The following long term crucial management directions and goals serve as a basic framework of the Sustainable Development Report. In 2023, the Sustainable Development Group, after conducting scheduled assessment has selected major stakeholders and issues which are consistent with the 2022 assessment results. YungShin Group's identification process and results present as follows:

Step 1

Identify Stakeholders

8 types of stakeholders

According to dependencies, responsibilities, influences, diverse perspectives, tension, a stakeholder identification internal meeting has been convened. The process and scope of influence the stakeholders hold over YungShin Group has been examined, after which 8 types of stakeholders were defined, including investors, employees, clients/product users, government agencies, neighborhood communities, suppliers/contractors/distributors, the media and non-profit organizations.

Step 2

Sustainability Topic Selection

21 Sustainability related issues

To practice sustainability and respond to the global development trends, in accordance with Taiwan Stock Exchange Corporation Rules Governing the Preparation and Filing of Sustainability Reports by TWSE Listed Companies, the group adopts GRI standards as crucial subjects for consideration. In consideration of SDGs, SASB, TCFD, relevant industry issues and stakeholder discussion process, the Group has selected, collected and organized 21 related sustainability topics.

Step 3

Investigation of Stakeholder Degree of Concern

The Sustainable Development Group released a Stakeholder Issues of Significance Survey, investigated 8 kinds of stakeholders’ degree of concern on 21 sustainability related issues.

Step 4

Evaluate Impact Significance

The issue of Impact Assessment Survey was presented to the Corporation’s management and Sustainable Development Group members, which comprises a further investigation into actual and potential positive and negative level of impact the 21 sustainability related topics would have on three aspects: the environment, economy and people (including human rights). Based on the survey results, each of the sustainability issues impact level was given a score.

Step 5

Ensure Issue Sequence and Disclosure

13 Material Topics

According to the impact intensity sorting result of the fourth step, the first 10 items on the list are classified as material topics. Moreover, the Sustainable Development Group also takes industry trends, current situation and corporation’s current state into consideration, to incorporate 3 issues: Customer Safety and Health, Customer Privacy and Greenhouse Gas Emission Management. Ultimately, the Group selected 13 material topics related to sustainability, including Waste Management, Corporate Image, Occupational Safety and Health, Ethical Corporate Management, Economic Performance, Labor Relations, Water Stewardship, Labor Management Relations, Energy Management, Marketing and Labeling, Customer Safety and Health, Customer Privacy, Greenhouse Gas Emissions Management. In accordance with the reporting requirements of each material topic related to sustainability, YungShin Group provides a description on relevant management policies in this Report. The disclosed information covers 13 standards corresponding to GRI.

List of Material Topics and Analysis of the Impact on Value Chain

The operational process of the Corporation might have a positive or negative impact on the up and downstream value chain as well as all stakeholders. Therefore, YungShin Group conducted further analysis of all objects that might have an impact on each material topic. This serves as main consideration for management policy formulation and compilation of the Report. In 2023, YungShin Group events, value chain and business relations have undergone significant changes compared to the previous year.

Aspects Material Topics GRI Guidelines Specific Topics Responded Chapter Value Chain Stakeholder
Upstream YungShin Group Downstream Investors Employees Government Agencies Non-profit Organization Neighborhood Community Media
Supplier/ Contractor/ Distributor Client/ Product User
Environment Waste Management GRI 306: Waste Chapter 4 Environmental Sustainability ✓ ✓ ✓ ✓   ✓ ✓ ✓  
Energy Management GRI 302: Energy ✓ ✓ ✓ ✓   ✓   ✓  
Greenhouse Gas Emissions Management GRI 305: Emissions ✓ ✓ ✓ ✓   ✓ ✓ ✓  
Water Stewardship GRI 303: Water and Discharge Water ✓ ✓ ✓ ✓   ✓ ✓ ✓  
Employees Occupational Health and Safety GRI 403: Occupational Safety and Health Chapter 5 Happy Workplace ✓ ✓ ✓   ✓ ✓      
Labor and Employment Relations GRI 401: Employment ✓ ✓     ✓ ✓      
Labor Management Relations GRI 402: Labor/ Management Relations ✓ ✓   ✓ ✓ ✓      
Products Customer Privacy GRI 418: Customer Privacy Chapter 3 Product Liability   ✓ ✓ ✓   ✓      
Marketing and Labeling GRI 417: Marketing and Labeling ✓ ✓ ✓ ✓   ✓ ✓   ✓
Customer Health and Safety GRI 416: Customer Safety and Health ✓ ✓ ✓ ✓ ✓ ✓ ✓   ✓
Society Corporate Image GRI 413: Local Community Chapter 6 Social Responsibility ✓ ✓ ✓ ✓ ✓       ✓
GRI 203: Indirect Economic Impacts
Governance Ethical Corporate Management - Chapter 2 Corporate Governance ✓ ✓ ✓ ✓ ✓ ✓     ✓
Economic Performance GRI 201: Indirect Economic Performance ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

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