1. Green Commercial Operation

（1）Energy Conservation Plan

The Group actively explores the green operation mode of energy conservation and emission reduction, and establishes the Energy Conservation and Consumption Reduction Management Policy (《節能降耗管理制度》) for each business project under the Group to standardize the energy consumption management for each project and reduce energy consumption. According to the requirements of the Group, effective energy conservation and consumption reduction management measures are taken for all commercial projects proactively: 

Clear Plan

• Develop energy-saving and consumption reduction plans and schemes, set energy-saving goals

• Implement according to time nodes to achieve energy-saving effect

Upgrading equipment

• Use energy-saving lighting appliances and replace high energy consumption lamps and converters

• Promote use of water-saving faucets and energy-saving drainage equipment

Scientific Commissioning

• Control the start and stop of the equipment according to business hours, and rationalize the start and stop time

• Adjust the temperature of central air-conditioner outlet water according to weather and seasonal changes, and adjust the start-up and shutdown time of floodlighting

• Maintain air conditioning and ventilation equipment as scheduled, and property adjust the proportion of fresh air and return air

Quantitative Management

• Reasonably configure metering devices to ensure their accuracy, and regularly test or update metering instruments

• Develop statistical caliber of energy consumption and strengthen management of energy consumption data

For each commercial project, the Group shall establish energy conservation and consumption reduction goal and implementation plan for the next year, and continuously strengthen the refined management of energy consumption equipment. In 2023, the Group's operational commercial projects saved a total of 69,050 tons of water and 11.2% in actual electricity consumption compared to budgeted electricity consumption.

（2）Environmental initiatives on tenants

All commercial projects of the Group strictly implement the environmental protection requirements for tenants, and actively promote the Group's environmental protection concepts:

① Provide decoration instruction manuals for merchants, and stipulate in the contract or propose the environmental protection performance of electrical appliances selected for decoration. The Group has set out requirements for the brand, model and power of electronic appliances such as energy-saving lighting fixtures. At the same time, the Group sets the limit of the maximum power of electrical appliances allowed in the store and requires all materials to meet the national environmental protection requirements, prohibiting to use materials with excessive formaldehyde content;

② Merchants engaged in catering business are required to have oily fumes emissions complying with environmental protection requirements and their air emissions complying with national standards. Furthermore, merchants are required to install drainage, oil and slag separation devices to ensure that oil and sewage are only discharged into the municipal sewage pipe network after oil and slag separation. Merchants are also encouraged to conduct waste separation and disposal in response to the Regulations on the Management of Domestic Waste implemented by different cities and provinces;

③ The Group actively responds to the "Regulations on the Management of Domestic Waste" promulgated by the Shanghai Municipal Government in 2019, and implements the garbage classification system. For catering merchants, waste oil and fat are handled by professional recycling companies, and waste kitchen waste is unified by professional recycling units. Recycling; bulky garbage, recyclable garbage, construction garbage, disposable tableware and other garbage must be disposed of separately; hazardous garbage such as paint, waste lamps, energy-saving lamps, etc. must be stored separately, and cannot be discarded at will, they are recycled and disposed by designated units. The Group strives to enhance the awareness of waste separation of merchants by various means including daily morning briefing, training, symposium and knowledge competition, and also regularly track their compliance in respect of electricity consumption, water consumption and air emissions.

2. Green Office Practice

The Group adheres to the concept of green office. We have not only initiated and kept practising the green office campaign of "Building a Green Future Together ”, but also put green actions into practice to make contributions to environmental protection by multiple means.