According to Tongbi Finance, on June 2, 2026, TCL Zhonghuan New Energy Technology Co., Ltd. (stock abbreviation: TCL Zhonghuan, code: 002129.SZ) received a Wind ESG rating of AA, unchanged from the previous period. The company's comprehensive score is 8.23, higher than the photovoltaic equipment industry average of 6.80. It ranks 11th among 78 companies in the photovoltaic equipment industry, placing it in the top 14.10% of the industry. The scores for the environmental, social, and governance dimensions are 8.36, 7.08, and 7.35, respectively.

Compared to the previous rating, the comprehensive score decreased from 8.39 to 8.23, a drop of 0.16 points. The contribution from management practices fell from 5.41 to 5.23, a decrease of 0.18 points. The contribution from controversy events remained stable at 3.00. In terms of dimensions, the environmental dimension decreased by 0.92 points, the social dimension decreased by 0.38 points, and the governance dimension increased by 0.52 points.

Rating Observation

In the environmental dimension, the company has demonstrated systematic planning from energy management certification to carbon neutrality goals, achieving significant progress in climate change and waste management. The company has established a four-tier climate change governance structure covering "decision-making—supervision—management—execution," integrating climate issues into operational management processes, and setting targets for peak carbon emissions by 2030 and operational carbon neutrality by 2050, with plans for renewable energy consumption in domestic factories to reach 45% by 2030. In waste management, the company has achieved a recycling rate of 97.52%, with 16 factories certified under ISO 14001, of which 6 have been rated as "waste-free factories." Additionally, the company has launched 88 energy-saving projects, saving 2.48 billion kilowatt-hours of electricity annually, equivalent to a reduction of 260,509.18 tons of carbon dioxide equivalent. However, the disclosure of water resource management system certification and carbon neutrality certification has not covered all assessment indicators, indicating room for improvement in information completeness.

In the social dimension, the company has demonstrated multi-level capabilities in R&D innovation and supply chain management, particularly excelling in technological accumulation and achievement transformation. R&D investment accounts for 3.65% of revenue, with a total of 1,325 valid patents, resulting in 4.56 valid patents per 100 million in revenue, and the Zhonghuan Research Institute coordinates technology projects and industry-academia-research cooperation to enhance R&D efficiency. In supply chain management, the company ensures sustainability through ISO 20400 and GB/T 33635-2017 certifications and has screened 190 new suppliers against environmental and social standards, achieving 100% coverage. Furthermore, the company requires all suppliers to sign a "Commitment to Not Use Conflict Minerals" and conducts due diligence to ensure that 100% of suppliers do not use conflict minerals. However, there are still gaps in the disclosure of information related to leadership training and management system certification in the development and training areas, indicating potential for localized improvements.

In the governance dimension, the company has demonstrated strong structural capabilities in board diversity and ESG governance architecture. The board consists of 9 members, with independent directors accounting for 33.33% and female directors accounting for 22.22%, and the CEO does not concurrently serve as chairman The company has established a multi-level ESG governance structure that encompasses decision-making, supervision, management, and execution, and has incorporated core ESG indicators such as water resource management, compliance, and risk management into the executive compensation assessment. The proportion of independent directors on the audit committee is 66.67%, with the chair being an independent non-executive director and the convener being a professional accountant. In addition, the company's ESG report has undergone a moderate verification by Rhein TUV. However, the proportion of independent directors on the audit committee is slightly below the best practice standard, indicating room for further optimization.

Content generated by AI on June 2, 2026, please verify important information