Cmsk has continuously received a Wind ESG AA rating, with a comprehensive score of 8.15

Rating Dynamics

On May 28, 2026, China Merchants Shekou Industrial Zone Holdings Co., Ltd. (stock abbreviation: China Merchants Shekou, code: 001979.SZ) received a Wind ESG rating of AA, unchanged from the previous period. The company's comprehensive score is 8.15, higher than the real estate development industry average of 5.99. It ranks 6th among 171 companies in the real estate development industry, placing it in the top 3.51% of the industry. The scores for the environmental, social, and governance dimensions are 7.61, 5.54, and 8.49, respectively.

Compared to the previous rating, the comprehensive score increased from 8.05 to 8.15, an improvement of 0.10 points. The contribution from management practices rose from 5.07 to 5.15, an increase of 0.08 points. The contribution from controversy events remained stable at 2.99. By dimension, the environmental score decreased by 0.69 points, the social score decreased by 0.65 points, and the governance score increased by 1.74 points.

Rating Observation

In the environmental dimension, the company's disclosures in climate change and green building areas demonstrate multi-level signals from management systems to quantified performance. The company has established a three-tier sustainable development governance structure, covering a carbon peak and carbon neutrality leadership group and an HSE committee, and is engaged in greenhouse gas accounting and risk response work. In 2022, the company's total greenhouse gas emissions amounted to 312,786.94 tons of carbon dioxide equivalent, with scope 1 emissions at 98,811.43 tons and scope 2 emissions at 213,975.51 tons, and it has set long-term goals for carbon peaking by 2030 and carbon neutrality by 2060. In terms of green buildings, the company added 3.8312 million square meters of green building area, with 35 new green building certification projects, and the proportion of newly constructed prefabricated buildings reached 92.30%. Additionally, the company plans to achieve 50% of new operational projects meeting the highest green building standards or near-zero energy consumption requirements by 2030. Although there is some disclosure in energy and waste management, there is still room for improvement in the completeness of information regarding system certification and goal planning.

In the social dimension, the company demonstrates a relatively comprehensive capability in occupational health and safety management, but the actual effectiveness of safety management still requires attention. The company has obtained ISO 45001 occupational health and safety management system certification, covering the headquarters and 22 subsidiaries, and has established a three-tier governance structure. In terms of occupational health and safety production, the incidence of occupational diseases is 0%, safety training covered 1,473,269 person-times, and there were no general secondary or higher HSE responsibility accidents throughout the year, achieving a 100% signing rate for HSE target responsibility letters. However, there were 3 work-related deaths, 7 safety incidents occurred throughout the year, and safety production investment was negative, indicating that there is still room for improvement in safety management. In the employment sector, the total number of employees is 49,135, with female employees accounting for 33.93% and minority employees accounting for 3.85%, with an average salary of 156,800 yuan. The company strengthens employee communication through the "Siyanghui" platform and has established an employee care mutual aid association to provide financial support The disclosure of customer issues is relatively limited, lacking higher-level signals such as customer management system certification.

In terms of governance, the company's disclosure regarding the board structure and ESG governance mechanisms is relatively systematic. The board consists of 9 members, with 33.33% being independent directors and 22.22% being female directors. The CEO does not concurrently serve as the chairman, and the attendance rate is 100%. The company has established a three-tier ESG governance structure covering anti-corruption and anti-monopoly areas, clarifying management principles and implementing relevant policies. In terms of anti-corruption, the company has conducted 661 integrity education warning activities, covering 125,000 participants, and has signed integrity self-discipline guarantees with suppliers. The proportion of independent directors on the audit committee and the compensation committee is 66.67% and 100%, respectively, further strengthening governance independence. However, the dissent rate for related party transaction proposals is 20.67%, indicating a high level of shareholder attention to related proposals. The disclosure of specific risk control measures in the fields of anti-monopoly and fair competition, as well as the certification of the anti-corruption management system, still needs improvement