#Sustainability #China #Suzhou #Tineco #ECOVACS ROBOTICS

ECOVACS 2024 Sustainability Report: Pioneering Data Security and Eco-Friendly Solutions

In the dynamic world of service robotics, ECOVACS (603486.SH) stands out with its recent release of the 2024 Sustainability Report. By focusing on environmental, social, and governance (ESG) performance, the company aligns itself with global sustainability objectives while ensuring the well-being of consumer data.

Embracing Sustainability through the PROGRESS Strategy

ECOVACS has established itself as a leader in home service robotics with a significant emphasis on sustainable development. The company’s ethos is encapsulated in its ‘PROGRESS’ strategy, aimed at fostering a responsible, inclusive, and sustainable world. At the heart of this commitment is the integration of sustainability as a critical value driver for its brand identity.

Qian Dongqi, the president of ECOVACS, summarized the company’s mission, stating, "We prioritize high-quality development to enhance competitiveness and sustainability. Our goal is to guide industrial partners and consumers toward eco-friendlier practices, contributing positively to global sustainability."

Ambitious Carbon Reduction Goals

Looking to the future, ECOVACS has pledged to cap its carbon emissions before the close of this decade and aims for complete carbon neutrality by 2060. The ambitious sustainability targets for 2030 include:

• - A 20% reduction in energy intensity from 2020 levels
• - A 10% reduction in water consumption intensity compared to 2020
• - A 30% reduction in packaging materials used

To meet these targets, the company is embedding eco-friendly practices throughout its operation, systematically lowering resource consumption and waste through optimized processes and energy management.

In 2024 alone, ECOVACS harnessed a total of 6,031.35 MWh of clean energy, with 2,530.71 MWh generated onsite through photovoltaic systems at its factories. The remaining energy came from its subsidiary Taiding New Energy, underscoring the commitment to renewable energy.

A Commitment to Circular Economy

The promotion of a circular economy remains a cornerstone of ECOVACS’ sustainability efforts. Through a well-structured recycling program, the company collected 29,000 used units in 2024, supported by an investment of $3.13 million. Of this, 5,434.05 tons of recyclable materials, including used electronics and spare parts, were retrieved, translating into a recycling value of $4.07 million.

To innovate for sustainability, ECOVACS has introduced the DEEBOT X11 OmniCyclone—a groundbreaking robot vacuum incorporating PureCyclone 2.0 Auto-Empty tech. This innovation eliminates the need for single-use dust bags, potentially saving over 2 million dust bags annually, thereby making cleaning processes cost-effective and eco-friendly.

Data Security and Privacy Assurance

As a technology-driven enterprise, ECOVACS prioritizes data security and ensures consumer privacy compliance across all operation regions. Adhering to local laws, including China’s Cybersecurity Law and the EU’s GDPR, the company has established a comprehensive multi-layer information security management framework.

In 2024, ECOVACS attained several prestigious data protection certifications, including:

• - ISO 27001 for information security management
• - ISO 27701 for privacy management
• - TÜV Rheinland’s ETSI EN303 645 standard for Consumer IoT security
• - UL Solutions' ‘Diamond’ level IoT security verification for various DEEBOT models

The report also highlights ECOVACS's dedication to open innovation, collaborating with universities and research institutes to accelerate technological advancements. This effort includes working alongside supply chain partners to foster joint innovation and sharing resources, confirming its competitive edge in an evolving market.

Future Perspectives

Looking ahead, ECOVACS remains steadfast in embedding sustainability across every operational facet. Committed to innovating responsibly, enhancing data security, and propelling eco-friendly practices, the company aspires to lead the service robotics industry sustainably. As ECOVACS continues on this progressive journey, it aims to contribute to a cleaner, responsible, and inclusive global future.

Founded in 1998, ECOVACS Group is an innovative leader in service robotics and smart home appliances, exporting to over 170 countries and reaching more than 50 million households globally. With its pioneering spirit, ECOVACS strives to empower daily life through cutting-edge technology.

About ECOVACS Group

Founded in 1998 and based in Suzhou, China, ECOVACS has established itself as a pioneering force in the service robotics arena, providing innovative and high-quality household solutions under the ECOVACS ROBOTICS and TINECO brands.