ESG Statement

Environmental Protection

The pursuit of carbon neutrality and sustainable development has become a global mission. Our Group fully supports this initiative and is putting in our best effort to reduce our carbon footprint. 

Carbon neutrality is the balance between emitting carbon and absorbing carbon emissions. The Group has been taking rigorous efforts to reduce carbon emissions and focus on energy conservation programs. Throughout the years, we have been installing and upgrading energy efficient systems such as LED lighting, variable frequency devices of air conditioning systems, magnetic bearing chillers, HVAC system, solar road lamp and electric vehicles etc. 

Recently, the Group is exploring an energy-saving product developed by a local university, which utilizes the passive radioactive technology to produce cooling effect. It comprises an electricity-free cooling coating to be painted on the external wall for the cooling of the room. The initial trial run indicates that the employment of the product does have effect of lowering temperature by 5-6% that should achieve electricity conservation. We are now conducting a larger scale test to measure the drop of temperature and quantify the saving in electricity usage, and shall decide whether to adopt the product. In the meantime, our exploration to replace electricity by solar energy, wholly or partly, is ongoing.

The Group has been striving to minimize its water consumption that in turn will be the best absorbent of carbon emissions by reusing treated wastewater in gardening, vehicle washing and sewage etc. Trees have been planted around our manufacturing facilities to help absorbing carbon emissions. The Group is also mindful of carbon emissions in its supply chain and only suppliers that are cognizant of environmental responsibilities will be selected as our qualified suppliers. 

The Group has identified potential climate related risks and made assessment of their impacts, including financial impacts, on our business. Our climate risks mainly stem from the possible stoppage of power supply under extreme weather conditions. The Group has developed a climate change strategy and formulated various actions to cope with climate change. 

Also, the Group reviews the relevant law and regulations on a regular basis to ensure compliance.

Overseeing the Group’s Environmental objectives, strategies and management approach is the responsibility of the Board of Directors. A working group comprising members from senior and middle management has been established to assist the Board to implement environmental strategies and measures. We have also engaged Hong Kong Productivity Council as our consultant to aid measuring carbon inventory and provide advice for improvement.  

Social Factors

Our Group places great emphasis on the effective management of the relationships with different groups of stakeholders, mainly employees, customers, suppliers, and the communities where the Group operates.

We consider that employees are our valuable assets and are committed to building an amicable and rewarding relationship with them. We seek to establish a supportive workplace that upholds fair and equal treatment and a competitive welfare and incentive system. We provide an effective training system aiming for the sustainment of a competent, professional, and ethical workforce. A variety of training courses such as Engineering Programming tutorial, Engineering Failure Analysis Skill workshop, and English training course as well as various kinds of on-job training are offered to our employees on a regular basis. Occupational safety and the health of employees is our foremost consideration, and we implement our safety management system in accordance with the ISO45001 standard. Labor-related regulations are adhered to according to the local laws, including laws against employment of children and forced labor.

As to customers, we seek to bring to them, on a timely basis, high quality and safe products which fulfill their requirements and comply with international laws and regulations including relevant legislative requirements related to environment, health and safety. We are totally committed to quality. We are mindful of the absolute need to protect customers’ intellectual property rights, and non-disclosure agreements are executed where necessary to safeguard customers’ interest. We also uphold a strict information system which complies with ISO 27001. 

As to supply chain management, the Group’s aim is to establish continuous and long term relationship with qualified suppliers for the efficient procurement of materials of good quality. The Group operates a supplier management system for selecting and qualifying suppliers. The system calls for due diligence audits before qualification to ensure procure material are of good quality, responsible business practices, observation of environmental and public responsibilities, and compliance of law. A new supplier can only be qualified after detailed assessment and gaining approval in accordance with the supplier management system. The Group only makes purchases from qualified suppliers. Regular reviews will be conducted on key suppliers after they have been qualified to ensure that they continue to meet the Group’s standards. 

The Group’s objective is to be a good corporate citizen. Over the years, it has been actively participating in community services, charity events and voluntary works aiming to provide care to the elderly and support those in need. Examples of such activities are participating in charity events such as charity walks for fund raising, providing gifts and assistance to elderly homes, and donating tablets to hospitals for use by quarantined people during the pandemic years. Also, the Group makes education donations. For example, a donation was made to a local university to support students and alumni undertaking ESG focused start-up projects in Hong Kong and the Greater Bay area, and a donation to support the research on transparent masks which would make lip-reading possible thereby promoting barrier-free communication for the hearing-impaired. The Group has also donated to a fund which is established to render humanitarian assistance to people in Ukraine through providing them with vital equipment, clothing, and monetary aids. In recognition of the Group’s community services, WIHL and its subsidiary, WEHC were awarded the Caring Company Logo by the Hong Kong Council of Social Service for eleven consecutive years including 2022.

Governance

The Group is committed to the establishment of good corporate governance practices and procedures. The corporate governance principles of the Group emphasize a quality Board, accountability, transparency, fairness, ethical business practices, responsibility, and effective risk management and internal control. 

The Board, comprising members of diverse professional backgrounds and skills, oversees the system of rules, practices, and processes by which the Group is directed and controlled. There is a schedule of matters reserved for the Board’s approval, which mainly relates to formulating corporate strategies and policies, approving business plans, supervising the Group’s financial and business performance, and approving major management and financial matters such as major acquisition, disposal, or capital commitment. Safe those matters set out in the schedule, all other general powers of the Board are delegated to an Executive Board, which is responsible for the management of the day-to-day operation of the Group. 

The Board has overall responsibility for maintaining effective risk management and internal control systems. To assist the Board to discharge its responsibility, two board committees, namely the Risk Management Committee and the Audit Committee have been established. The Risk Management Committee (RMC) oversees the Group’s risk management framework, evaluates its effectiveness and adequacy, assesses the material risks, approves and updates risk policies and tolerances, and review breaches, and advises the Board on significant risk related issues. Reporting to the RMC is an Environment, Health and Safety (EHS) Committee which monitors risks related to environment, occupational health, and safety in each of our manufacturing facilities with the emphasis on implementing effective preventive measures against possible hazards. 

The Audit Committee (AC) provides oversight of the financial reporting process, the audit process, the Group’s system of internal controls, and compliance with laws and regulations. In support of the two board committees, the Group Management maintains an independent Internal Compliance Control function which conducts regular internal reviews and audit for compliance on the Group’s risk management, financial checks and internal control system. 

The Group maintains an Anti-Corruption Policy and Code of Conduct, which provide rules and guidelines to employees to meet high standards of integrity and honesty internally and externally and not to engage in any kind of bribery and corruption prohibited by local laws and international regulations. The Group has zero tolerance towards non-compliance of its Anti-Corruption Policy.