TCL Electronics Signs Sustainable-Linked Transaction Agreement with Standard Chartered

HONG KONG, Jan. 30, 2024 /PRNewswire/ — TCL Electronics Holdings Limited (“TCL Electronics” or the “Company“, stock code: 01070.HK) is pleased to announce that its offshore subsidiary has signed a sustainable-linked transaction agreement with Standard Chartered. The deal is linked to the Company’s sustainability performance over a specified period, and aims to foster the ongoing elevation of its sustainable development standards.

The innovative transaction agreement links sustainability-linked indicators with corresponding incentive mechanisms. Standard Chartered bundled various derivatives under TCL Electronics’ risk hedging to greatly streamline the transaction process and enhance the scope of the sustainable-linked risk-hedging transactions. This arrangement not only encourages proactive sustainability practices within TCL Electronics but also facilitates the Company’s risk hedging activity.

As a global leader among consumer technology brands, TCL Electronics has been included in the Hang Seng Corporate Sustainability Benchmark Index since 2019. The Company actively implements Environmental, Social, and Corporate Governance (ESG) measures across multiple domains such as energy conservation and emission reduction, protection of employees’ rights and interests, fair and compliant operations, sustainable supply chain management, and consumer relations. To address market opportunities in the digital and green economy era, TCL Electronics has been pursuing transformative innovation with a flexible and creative approach, exploring paths to sustainable corporate development. This includes strengthening green and low-carbon management and observing strict compliance with national laws and regulations on the emission of exhaust gas and greenhouse gases to actively reduce emissions. Meanwhile, TCL Electronics closely monitors the occupational health and safety of each employee and continuously strengthens safety and health management measures to create a positive and safe working environment free of workplace hazards.

Ms. Jean Lu, Deputy Chief Executive Officer and Head of Corporate, Commercial and Institutional Banking of Standard Chartered China, commented, “We are delighted that Standard Chartered and TCL Electronics reached this innovative sustainable-linked transaction. As a leading smart device technology enterprise, TCL Electronics has been actively practicing sustainable development and has set clear carbon neutrality goals. We look forward to seeing Standard Chartered continuing our close collaboration with TCL Electronics, leveraging Standard Chartered’s expertise in sustainable finance to support TCL Electronics in achieving its sustainability and carbon neutrality objectives.”

Mr. Peng Pan, Executive Director and Chief Financial Officer of TCL Electronics, stated, “Going forward, we will vigorously carry out our mission of ‘Building a Sustainable and Connected Future with Advanced Technology’, and execute our ‘globalisation’, ‘intelligence’ and ‘green’ strategies. We will integrate sustainable development into every aspect of corporate management and operations, and actively shoulder our social responsibilities.”

About TCL Electronics

TCL Electronics Holdings Limited (“TCL Electronics” or “the Company”, stock code: 1070.HK, incorporated in the Cayman Islands with limited liability) was listed on the mainboard of the Hong Kong Stock Exchange in November 1999. It is engaged in display business, innovative business and internet business. TCL Electronics actively transforms and innovates under the strategy of “Value Led by Brand with Relative Cost Advantage, Ultimate Efficiency Management and Collaborative Innovation”. Focusing on the mid-to-high-end markets around the world, the Company strives to consolidate the “intelligent IoT ecosystem” strategy and is committed to providing users with an all-scenario smart and healthy life while developing into a world-leading smart technology company. TCL Electronics is part of the Shenzhen-Hong Kong Stock Connect Program as well as Shanghai-Hong Kong Stock Connect Program, and is included in the Hang Seng Stock Connect Hong Kong Index, the Hang Seng Composite MidCap & SmallCap Index and the Hang Seng Corporate Sustainability Benchmark Index. Besides, it has received Hang Seng Index’s ESG rating of A for six consecutive years since 2018.

For more information, please visit the investor relations web page of TCL Electronics at http://electronics.tcl.com.

Source : TCL Electronics Signs Sustainable-Linked Transaction Agreement with Standard Chartered

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