HONG KONG SAR - Media OutReach Newswire - 7 May 2024 - Luxshare Precision, a key Apple supplier, is dedicated to maintaining the highest ethical standards in all facets of its operations, particularly regarding the treatment of its workforce. Luxshare Precision released social responsibility reports/sustainability reports last month and for ten consecutive years since 2014. Through active ESG practices, Luxshare Precision has contributed to the sustainable development and ethical labor practices of the industry and society as a whole.

Commitment to Human Rights and Collaborative Labor Management

Luxshare Precision actively participates in and supports international labor conventions and initiatives such as the United Nations International Human Rights Law, the International Labour Organization's "Declaration on Fundamental Principles and Rights at Work," the "Universal Declaration of Human Rights," the "International Covenant on Economic, Social and Cultural Rights," the "International Covenant on Civil and Political Rights". The company's engagement with these frameworks helps cultivate industry best practices for ethical labor management.

Transparent Communication and Proactive Engagement

Luxshare Precision believes in the power of transparency and proactive communication with all stakeholders, including customers, investors, and the global community. The company regularly publishes detailed sustainability reports and remains open to dialogue, addressing any concerns about its labor practices and reaffirming its commitment to ethical operations.

Employee Safety First to Ensure a Responsible Supply Chain Management System

As a leading company in the industry, Luxshare Precision values its employees' occupational health and safety (EHS). The company has carried out various occupational health and safety training to enhance the overall safety awareness of all employees. In terms of work-related injury management, Luxshare Precision has formulated a series of policies and procedures and actively carried out the formulation and drills. The company has set up a 24-hour clinic in each production base to ensure that the employees in need can receive timely help.

Luxshare Precision follows the OECD (Organization for Economic Cooperation and Development) framework in its supply chain management. The company annually conducts due diligence on conflict minerals for its suppliers to ensure that the metals used in the products supplied to Luxshare Precision do not originate from conflict minerals. Luxshare Precision is committed to building a green supply chain and released its first Green Supply Chain Project Periodic Report in August 2022. The company collaborated with IPE (the Institute of Public and Environmental Affairs) to provide regular special training for subsidiaries and suppliers, answering questions on a one-to-one basis to build a responsible supply chain management system.

Reasserting Commitment to Ethical Labor Practices

Luxshare Precision has denied any involvement in the use of forced labor from Xinjiang. The company has emphasized its commitment to upholding human rights and fair employment practices. The concern regarding the employment of Uyghur workers from Xinjiang prompted Luxshare Precision to redouble its efforts to showcase its adherence to ethical labor practices.

Strengthening Supplier Code of Conduct

In response to the heightened focus on supply chain ethics, Luxshare Precision has strengthened its Supplier Code of Conduct. This code outlines strict guidelines for labor practices, including prohibitions on forced labor, child labor, and excessive overtime. Luxshare Precision has also implemented robust monitoring and verification systems to ensure its suppliers adhere to these standards.

Looking Ahead

Luxshare Precision's focus on ethical practices will be crucial as the scrutiny of supply chain practices continues to intensify. By maintaining its commitment to ethical labor practices, strengthening supplier relationships, and fostering transparency, the company aims to position itself as a trusted and responsible partner in the industry.

Hashtag: #Luxshare

The issuer is solely responsible for the content of this announcement.