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1、 上海晨光文具股份有限公司 SHANGHAI M&G STATIONERY INC.2020 年度企業社會責任報告 2020 Corporate Social Responsibility Report About This Report The Board of Directors of the Company and all its directors guarantee that,this report does not contain any false information,misleading statement or material omission,and severall
2、y and jointly accept responsibility for the truthfulness,accuracy and completeness of the contents of this report.Dear stakeholders,this“Corporate Social Responsibility Report of Shanghai M&G Stationery Inc.for the Year of 2020”(CSR report)is the third of its kind issued to the public by M&G Station
3、ery.This report aims to truthfully present the CSR development and practice of the Company and reveal to our shareholders,employees,government agencies,customers and consumers,partners,local communities and other stakeholders of the Companys CSR activities.Reporting Period:From 1 January 2020 to 31
4、December 2020 Reporting Cycle:Reported annually Scope of Reporting:This report covers Shanghai M&G Stationery Inc.and its subsidiaries.For the convenience of expression,they are referred to as“M&G Stationery”,“M&G”,“the Company”,“we”or“us”,etc.herein.Basis of Preparation This report is prepared in a
5、ccordance with the Guidelines to Report Sustainability(GRL-Standards)of Global Reporting Initiative(GRI)and Guidelines on Corporate Social Responsibility Reporting for Chinese Enterprises(CASS-CSR 4.0)by Chinese Academy of Social Sciences.Access to the Report The report is prepared and published in
6、simplified Chinese,and is available in both hard copy and electronic versions.The latter may be downloaded from the website of Shanghai Stock Exchange(http:/).Report Assurance III The report was approved by the fifth meeting of the fifth session of the Board of Directors and the fourth meeting of th
7、e fifth session of the Board of Supervisors held on 26 March 2021.本報告分別以中、英文編制,在對中外文文本的理解上發生歧義時,以中文文本報告分別以中、英文編制,在對中外文文本的理解上發生歧義時,以中文文本為準。本為準。This English version is converted from the Chinese version.In case of any discrepancy between the Chinese version and the English version,the Chinese version
8、shall prevail.IV Contents I.Company Profile.1(I)Overview.1(II)Development History.3(III)Awards in This Year.4(IV)Operation Performance.5(V)Responsibility of Communication.6 II.Environment.8(I)Carbon Emission.8(II)Energy Consumption.8(III)Clean Energy.9(IV)“Green”Factory.10(V)“Green”Products.10 1.Env
9、ironmentally-friendly materials.10 2.Recyclable materials.11(VI)“Green”Operation.11(VII)Environmental Protection Actions.12 III.Society.14(I)Product Responsibility.14 1.Design and R&D.14 2.Manufacturing advantage.14 3.Chemical safety.15(II)Stakeholder.18 1.Consumer.18 2.Supplier.19 3.Distribution pa
10、rtner.21(III)Human Resources.21 1.Basic rights and interests.22 2.Development of talents.22 3.V ocational development.24 4.Communication channels.24 5.Welfare system.24 6.Work safety.25(IV)Charity.27 1.Pandemic containment.27 2.Poverty alleviation.28 3.M&G Rainbow Creative Classroom.29 4.Rainbow is
11、Coming.29 5.Kids of the Stars.30 IV.Governance.32(I)Corporate Governance.32 1.Governance system.32 V 2.Internal control.33(II)Corporate Conduct.34 1.Compliance with laws and regulations-anti-corruption.34 2.Tax responsibility.36 3.Dividend return.36 4.Investor relations.37 5.Information disclosure.3
12、7 V.Outlook.39 1 I.Company Profile(I)Overview Shanghai M&G Stationery is a comprehensive stationery supplier and an office supplies service provider.The Company integrates the value of creativity into its products and service advantages,advocates fashionable stationery lifestyle,and provides solutio
13、ns for study and work.Its traditional core businesses include designing,developing,manufacturing and selling writing instruments,student stationery,office supplies and other products under brands,and it also develops the e-commerce M&G Technologies;its new businesses mainly comprise of own-operated
14、retail storesJiumu Store and M&G Life,and direct office service platformM&G Colipu.Our mission:Make study and work more joyful and effective Our values:Sincerity,collaboration,focus,win-win,and consumer centric Our vision:Become a world-class M&G 2 M&G Stationery covers more than 80,000 retail stati
15、onery shops nationwide and has 441 own-operated retail stores including M&G Life and Jiumu Store.The Company launches thousands of new products every year based on the market demand.Our products are exported to more than 50 countries and regions and we have partners are all over the world.The Compan
16、y has maintained double-digit growth in the past decade.Its total revenue reached RMB13.14 billion in 2020,increasing 18%year-on-year.Headquartered in Shanghai,China,the Company operates an industrial park that covers an area of 350 mu.The park is the home of China Writing Instrument Industrial Base
17、,China Writing Instrument Center,National Industrial Design Center,and China Key Laboratory of Light Industry and Writing Instrument Engineering Technology.In 2019,M&G Stationery Laboratory was accredited by China National Accreditation Service for Conformity Assessment(CNAS),with its testing capabi
18、lities meeting global standard.The Company invests more than RMB100 million in the design and development of product and technology every year.New products on the production line can be available in all retail shops across the country in only 7 days.Currently,the Company has more than 700 patents.M&
19、G Stationery was awarded well recognized industrial design awards such as the Gold Ideas Medal and Red Star Medal.In 2020,the Companys anti-breakage automatic pencil won the American IDEA Design Award.The Company won four major international industrial design awards(German Red Dot Award,German iF Aw
20、ard,Japanese G-Mark Award,and American IDEA Award).As a domestic brand favored by Chinese consumers,M&G Stationery is 3 pioneering a path of innovation in Chinese stationery from stationery products towards those with more cultural and creative elements,transforming from“Made in China”to“Created in
21、China”,leaping from local brand to international brand,and becoming world-class M&G.(II)Development History 2020 Brought Israeli design brand-Peleg Design to attend CIIE,announced establishm ent of Israel office of its global design center;2019 M&G Stationery acquired Shanghai Axus as its subsidiary
22、;Brought Italian painting brand-CARIOCA to attend CIIE;2017 Explored new retail in the industry and started the strategic transformation of“taking brand as the core and transforming from stationery to cultural and creative lif e;M&G Colipu successfully acquired Office Depot(China);2015 M&G Stationer
23、y officially listed on the Shanghai Stock Exchange A shares(stock code:603899);2013 Qingcun Industrial Park was completed and the largest three-dimensional warehouse in the stationery industry in China was put into use;2008 The first“franchise chain project was launched in the stationery industry.At
24、 the sam e time,the Guangming Park was completed,and China Writing Instrument Center and China Writing Instrument Industrial Base were established,establishing the Companys leading position in the stationery industry;4 (III)Awards in This Y ear Description Issued by Shanghai Brand Certification Shan
25、ghai Brand International Certification Alliance First Grade Prize for State Science and Technology Progress Award issued by China National Light Industry Council(R&D and application of key technology for manufacturing pen tip and gel pen&ballpoint pen)China National Light Industry Council First Grad
26、e Prize for State Science and Technology Progress Award issued by China National Light Industry Council(development and industrialization of water-based ballpoint pen with regulator)China National Light Industry Council Contract Credit Rating Certification(2018-2019,AAA)Shanghai Contract Credit Prom
27、otion Association 2005 Selected as the designated stationery supplier of Boao Forum for Asia and has provided support for Boao Forum for Asia for more than one decade;2002 K35,the first press gel pen in China,came out after 180 days of process debugging and 17 process optimization,creating M&G class
28、ic products with ingenuity;1999 M&G settled in Liuli,Pudong,with more than 100 employees.It has successively established mold,injection,printing and assembly workshops,and the production system has begun to take shape;1997 The M&G trademark was officially launched,establishing the development path o
29、f the brand;cooperated with stationery agents across the country and established partnerships;1989 First step in start up the Company in two small bungalows in Hengshan Village,Gurao Town,Shantou;5 Top 100 Private Manufacturing Enterprises in Shanghai in 2020(Ranked 9th)Shanghai Enterprise Confedera
30、tion/Shanghai Entrepreneurs Association/Jiefang Daily Top 100 Manufacturing Enterprises in Shanghai in 2020(Ranked 27th)Shanghai Enterprise Confederation/Shanghai Entrepreneurs Association/Jiefang Daily Top 100 Private Enterprises in Shanghai in 2020(Ranked 39th)Shanghai Enterprise Confederation/Sha
31、nghai Entrepreneurs Association/Jiefang Daily Company with Outstanding Contribution to Pandemic Prevention and Control and Work Resumption,by China Stationery&Sporting Goods Association China Stationery&Sporting Goods Association Golden Bee Enterprise Award Economic Guide for Sustainable Development
32、 of the Ministry of Commerce Charity Brand Project Award China Charity Federation(IV)Operation Performance In 2020,the Company reported revenue of RMB13.14 billion,a year-on-year increase of 18%,and net profit attributable to shareholders of listed company of RMB1.25 billion,a year-on-year increase
33、of 18%.As of the end of 2020,the Companys total assets were RMB9.71 billion,a year-on-year increase of 28%;the net assets attributable to shareholders of listed company were RMB5.19 billion,a year-on-year increase of 23%.The Company has maintained sound growth and sound asset condition.Key financial
34、 indicators 2020 2019 Year-on-year increase or decrease(%)Operating income(RMB)13,137,745,727.18 11,141,101,364.44 17.92 Net profit attributable to shareholders of listed company(RMB)1,255,426,655.27 1,060,083,625.03 18.43 Total assets(RMB)9,709,908,436.32 7,565,115,311.74 28.35 Net assets attributa
35、ble to 5,193,568,712.05 4,201,500,384.99 23.61 6 shareholders of listed company(RMB)Basic earnings per share(Yuan/share)1.3558 1.1523 17.66 Weighted average ROE(%)26.91 28.17-1.26(V)Responsibility of Communication The value obtained by M&G Stationery comes from recognition and support of the stakeho
36、lders.The Company has insisted on establishing an effective communication mechanism to build close contact with various stakeholders,building a sound communication platform for the stakeholders to conduct more active exchange and communication with the stakeholders through the Companys official webs
37、ite,official Weibo,official WeChat,shareholders general meetings and other forms.We listen to expectations and demands of various stakeholders and incorporate the feedback into the Companys decision-making process.By referring to its business strategy,industry standards,and corporate social responsi
38、bility standards at home and abroad,M&G Stationery has identified major issues of corporate social responsibility that may affect the Company or the stakeholders.In the future,we hope to conduct annual stakeholder interview to gather issues of concern from various parties,and to determine the Compan
39、ys annual major issues of focus with reference to the laws and regulations,hot social issues and industry trends.The Company will continue monitoring the appropriateness of the issues and make timely amendments.Stakeholder Issues of concern Way of communication Expectation Government 1.Operating per
40、formance 2.Products and services 3.Social responsibility Site visit Consultation and Q&A Request information and assessment Strengthen social responsibility construction,actively cooperate with the government,and promote local economic development and construction Shareholder 1.Corporate Periodic/in
41、terim The management can strive for the 7 governance 2.Operating performance 3.Social responsibility report Performance briefing General shareholders meeting best interests of the shareholders and investors and achieve the Companys sustainable development goals Consumer 1.Products and services 2.Bra
42、nd image 3.Social responsibility Satisfaction survey Promotions After-sales service Provide more considerate products and services and make the operation process more environmentally friendly Supplier/distribution partner 1.Operating with integrity 2.Supply chain management 3.Products and Services S
43、upplier selection Dealer training Feedback Maintain a close and solid cooperative relationship,practice social responsibilities together,and achieve sustainable development goals Employee 1.Legitimate rights and interests 2.Talent cultivation 3.Career development Remuneration and benefits Employee t
44、raining The Company can continue caring for employees,protecting employees rights and interests,and improving employee benefits Media 1.Operating performance 2.Brand image 2.Social responsibility Company official website Press releases Play a leading role in the industry and encourage more peers to
45、shoulder social responsibility Community 1.Operating performance 2.Poverty alleviation and relief Public services Volunteer services While driving local development,enhancing communication and exchanges with community residents through holding more community activities Environment 1.Energy saving an
46、d emission reduction 2.Clean energy 3.Ecological protection Restrict the use of hazardous substances Reduce carbon emissions Carry out environmental protection publicity activities The Company strictly controls the use of hazardous substances in the production and actively assumes the responsibility
47、 of reducing greenhouse gas emissions 8 II.Environment(I)Carbon Emission The Company adhered to the concept of environmentally-friendly and low-carbon development,actively practiced energy conservation and reduction,and took environment protection and sustainable development promotion as its inescap
48、able responsibility.According to an inspection made by carbon inspection organization in 2020,the carbon emission of the Company in 2019 was 57,773tons.In 2020,the Company continued making efforts in cost reduction,efficiency increase,and energy saving improvement:(1)the photovoltaic power generatio
49、n in Guangming Park was put into full use;(2)the photovoltaic power generation in Qingcun Park was started and connected to the grid in the second half of the year;(3)the waste heat was recovered from air compressors in Guangming Park;(4)the leakage of compressed air in Qingcun Park was improved;(5)
50、the energy saving of water pumps was improved.It is expected to reduce electricity consumption by 5 million kWh throughout the year and reduce carbon emissions by 3,940tons.In view of the increased energy consumption caused by growth of the Companys product,and the impact of the pandemic in the firs
51、t half of the year,total carbon emissions of the Company in 2020 decreased by 5%to 55,528tons.(II)Energy Consumption In order to implement the deployment of dual control of total energy consumption and intensity of CPC Shanghai Municipal Committee and Shanghai Municipal Peoples Government,and to ach
52、ieve the energy consumption dual control goal in the 13th Five-Year”plan,in accordance with the Circular of Shanghai Municipal Development&Reform Commission on Printing and Distributing the Priority Work Arrangements for Energy Conservation and Emission Reduction and 9 Tackling Climate Change in 202
53、0,the control target of Shanghai Municipal Commission of Economy and Informatization on total energy consumption and intensity in 2020 was that the value-added energy consumption per unit of the industry above the designated scale would be reduced;the increased energy consumption is expected to be k
54、ept below 1.7 million tons of standard coal,preferably below 1.4 million tons.In 2020,the total annual consumption and intensity control targets of M&G Stationery are shown as below:Company name Target of total energy consumption(Tons of standard coal)Target of energy intensity Target value Target v
55、alue Description of intensity indicator Unit of intensity indicator SHANGHAI M&G STATIONERY INC.17,385 0.051 Energy consumption per unit output value Tons of standard coal/RMB10,000(III)Clean Energy The Company actively promoted clean energy construction.It has successively constructed photovoltaic
56、power generation projects in Guangming Park and Qingcun Park,which has been fully connected to the grid for power generation with a total capacity of 8MW.The photovoltaic power generation in 2019 was 4.14 million kWh,which reduced carbon emissions by 3262t/CO2.The estimated power generation in 2021
57、is 8 million kWh,which can reduce carbon emissions by about 6300t/CO2.Due to the large amount of electricity consumption of the Company,the carbon quota system used the historical emission method.The photovoltaic energy was not enough to offset the Companys carbon emissions and reduce the carbon emi
58、ssion relatively.10(IV)“Green”Factory In accordance with the Environmental Protection Law of the Peoples Republic of China,the Law of the Peoples Republic of China on the Prevention and Control of Environmental Pollution by Solid Wastes,the Law of the Peoples Republic of China on Energy Conservation
59、 and other laws and regulations,the Company upheld the concept of sustainable development and implemented the policy of protecting the ecological environment and conserving resources.The Company attached great importance to environmental protection:the landscaping rate of the plant was relatively hi
60、gh;the plastic raw granular edges did not produce solid waste or environmental pollution after going through smashing,re-granulating and recycling process;the carton leftovers used for packaging were classified and sold to the local recycling station and then recycled into paper.The Company strictly
61、 prohibited hazardous recycled waste materials during production,didnt produce volatile gases that are harmful to human health.Domestic waste water was handled as required by local government.In daily management,the Company strengthens the monitoring and handling of three wastes and ensures that the
62、y are discharged as per the requirements to reduce the impact on the environment.(V)“Green”Products 1.Environmentally-friendly materials Breakthroughs have been made in the R&D and manufacturing of food-grade watercolor inks,which have greatly improved the safety performance of childrens arts produc
63、ts and guaranteed the health of the consumers;the domestic lead-free materials were developed to manufacture and process the pens,which ensured the safety of core materials and made contribution to the environmental protection of China;the national key research and development plan project,New Envir
64、onmentally-friendly Materials for Writing Instrument,is being carried out smoothly and research on a number of sub-11 topics have been completed.Due to the increased demand for enhanced environmental friendliness and quality of pens imposed by overseas nations,pens of enhanced environmental friendli
65、ness and diversified functions are set to be favored by the market.Hence pen manufacturing sector will certainly need the rollout of nascent environmentally friendly materials in making pens.With the progress in research and development of lead-free materials,the Company is endeavoring to enhance th
66、e overall technicality of our pen manufacturing sector,which could also translate into profitability and added value of products.In that case,we will be able to accelerate our speed of transformation from a mass pen manufacturer to a premium pen manufacturer.With the commercialization of nascent lea
67、d-free materials,the Company will reduce non-environmental friendly raw materials to prevent harm to human health arising from heavy metal as lead,VOC emission will be reduced,reducing energy consumption while bringing social and ecological benefits.2.Recyclable materials The Company advocated longe
68、r usage products by using consumables that are easy to be replaced to reduce waste as well as using the refill that is more durable and has large capacity.In recent years,the recycling of waste products has increasingly attracted the concern of the government and all sectors of the community.The pro
69、mulgated applicable laws and regulations have set higher requirements for recycling.A quality division team of the Company is set up to recycle the waste products according to the prescribed process.(VI)“Green”Operation The Companys centers and departments of perform their duties to implement the id
70、ea of environmentally-friendly operation.The Production Center is responsible for management of continuous energy conservation and reduction,clean production,and 12 environmental protection,to maximize conservation of natural resources.The R&D Center is responsible for research and promotion of new
71、energy conservation processes and technologies.The Equipment Engineering Department is responsible for supervision and management of energy use and the statistics on energy data to help factories to make improvement.Equipment Engineering Department proposes energy conservation and emission reduction
72、 plans and organizes the implementation of such plans.The Infrastructure Department is responsible for environmental assessment of new projects to ensure to satisfy the environmental protection needs of production and living resources.In addition,the Company played an active role in advocating envir
73、onmentally-friendly office,encouraged employees to develop low-carbon lifestyle from work and life,took advantage of World Environment Day and other opportunities to organize environmental protection activities,advocate practices of green lifestyle,and enhance environmental awareness of employees an
74、d the public.(VII)Environmental Protection Actions At the end of 2020,M&G Charity Foundation cooperated with Red Cross Society of China Gansu Branch and Qingsuo Public Welfare Development Center to establish a haloxylon ammondendron forest in Minqin County,origin of one of Chinas four major deserts.
75、With an initial investment of RMB350,000,all the donations will be used to plant nearly 900 mu of haloxylon ammondendron in 2021.Axus Stationery,a subsidiary of M&G,ensured safety and quality,improved manufacturing process,reduced waste and maximized use of existing resources.In order to reduce the
76、consumption of satinwood(a 2nd level state protected wood 13 species)for making pencils,Axus Stationery introduced the usage of fast-growing poplar in producing pencils in 2009.From logging to the cultivation of forest,Axus Stationery expanded its environment awareness to upstream and downstream ind
77、ustrial chain.It has thousands of mu of raw material timber forest bases in China.14 III.Society(I)Product Responsibility 1.Design and R&D With its excellent design concept,the Joy-Shaking Pen of M&G Stationery won the German iF Design Award;M&Gs self-developed automatic tape-cutting holder won two
78、international awards-the German iF Design Award and the Red Dot Award;M&Gs anti-breakage automatic pencil won American IDEA Award.The Company was awarded four well recognized industrial design awards.The Company advocated environmentally-friendly design and proposed simplified design and colorless d
79、esign.Simplified design refers to simplifying parts,reducing mechanical processes,conserving energy,reducing carbon emissions,colorless design refers to using colorless plastics,avoiding colored printing to the extent possible,and minimizing the use of toner which is harmful to earth.2.Manufacturing
80、 advantage The Company has raw material formula and production process with intellectual property rights,greatly enhancing the percentage of home-made raw materials and finished products.The Company was recognized as a national high-tech enterprise since 2010.The Company hosts the National Industria
81、l Design Center,China Key 15 Laboratory of Light Industry and Writing Instrument Engineering Technology,Shanghai Writing Instrument Engineering Technology Research Center,and other national,provincial and ministerial level technology centers.The testing laboratory of the Company obtained CNAS certif
82、ication qualification.The Company benefits from experience of large-scale manufacturing accumulated from past years,in-house mold capability,reliable supply chain,sound quality control system and adoption of various information management systems.The Company has the capability of large-scale manufac
83、turing with high quality control standard.Its product quality has won general recognition and favorable comments from consumers.The Company promotes the application of intelligent manufacturing technology in the production and inspection,and applies machine vision technology in various key links to
84、improve the efficiency.The Company sets itself as a model for transforming the stationery industry towards a leaner manufacturing model.3.Chemical safety(1)Safety of raw materials The Company provides consumers with high-quality products,also takes on social responsibilities.The Company pays close a
85、ttention to consumers health and safety requirements for products.The Company uses environmentally-friendly materials throughout the product life cycle,ensures products satisfy domestic and foreign standards on environmental protection and safety.All student stationery produced by 16 the Company mee
86、t Chinas mandatory safety standard,General Requirements for the Safety of Student Supplies(GB21027-2020),including maximum limit for 8 types of migratable elements(see Table 1 below for details).In addition,our childrens arts products meet maximum limit requirements for 19 types of migratable elemen
87、ts as set out in the EUs most advanced environmental protection standard EN71-3(see Table 2 below for details).Table 1 Maximum Limit of Migratable Element Unit:mg per kg Product name Maximum limit of element Antimony Sb Arsenic As Barium Ba Cadmium Cd Chromium Cr Lead Pb Mercury Hg Selenium Se Artis
88、tic oil painting stick,crayon,watercolor paint,eraser,correction fluid,correction tape,correction paste,correction pen;watercolor pen,fountain pen,ink ballpoint pen,gel ink ballpoint pen,waterborne ink ballpoint pen,marker pen,whiteboard pen,highlighter pen,pencil,printing ink/ink,lead;printing,brus
89、hing and painting parts of student supplies that are touchable 60 35 1000 75 60 90 60 500 Colored clay 10 10 350 15 25 25 10 50 Table 2 Migration Limits of Toy Materials Element Migration limit 17 Category mg/kg Category mg/kg Category mg/kg Aluminum 5625 1406 70000 Antimony 45 11.3 560 Arsenic 3.8
90、0.9 47 Barium 1500 375 18750 Boron 1200 300 15000 Cadmium 1.3 0.3 17 Trivalent chromium 37.5 9.4 460 Hexavalent chromium 0.02 0.0005 0.2/0.053 Cobalt 10.5 2.6 130 Copper 622.5 156 7700 Lead 2.0 0.5 23 Manganese 1200 300 15000 Mercury 7.5 1.9 94 Nickel 75 18.8 930 Selenium 37.5 9.4 460 Strontium 4500
91、 1125 56000 Tin 15000 3750 180000 Organotin 0.9 0.2 12 Zinc 3750 938 46000 The migration limit of hexavalent chromium for Category III toy materials(scratchable toy materials)has been revised as per Commission Directive EU2018/725.The new limit(0.053mg/kg)took effect on 18 November 2019.Before such
92、date,the 0.2mg/kg limit applied.(2)Supplier management During the site audit before the introduction of new suppliers,the Company investigated whether the supplier has obtained environmental assessment procedures,documents and approvals relating to its pollution source,and checked and confirmed in a
93、pproval form.(3)Safety management According to the Regulations on the Safety Management of Hazardous Chemicals promulgated by the State Council,in the safety management of hazardous chemicals,the Company should adhere to the principle of“safety first,prevention-focused,and comprehensive management”a
94、nd strengthen and implement the principal responsibility of enterprises.18 The Companys various departments performed their duties of raw material safety management.The Technical Center is responsible for the safety list of raw materials.The Quality Control Department is responsible for the safety i
95、nspection of raw materials.The Procurement Center strictly implements quantitative procurement of chemical hazardous chemicals and designated storage.The Safety Management Office strictly controls the flow of hazardous chemicals.(4)Product recall In order to strengthen management of recall of defect
96、ive products,eliminate possible damage caused by defective products,and guarantee the personal and property safety of consumers,the Company formulated and enforced the Management System for Product Recall in accordance with the Product Quality Law of the Peoples Republic of China and Management Meas
97、ures for Recall of Defective Consumer Goods and other laws and regulations.(II)Stakeholder 1.Consumer The Company always puts customers first and is committed to providing customers with better services,enhancing customer service experience,continuously strengthening service innovation,enriching ser
98、vice channels,and protecting the rights and interests of the consumers.(1)Satisfaction survey Winning customer satisfaction is our relentless pursuit of products and services.The Company performs satisfaction surveys on service,product quality,operation and customer loyalty on a regular basis.This h
99、elps the Company learn customers feedbacks and improve its service quality.Meanwhile,the Company actively regulates its behavior around competition,protects consumers rights,prevents unfair competition and combats fake and shoddy products.(2)Product quality The Company has formulated a series of str
100、ict,internal policies on quality control 19 and manufacturing procedure control,including the procurement of raw materials,product manufacturing and after sales service.The Company strictly complies with national standards and industrial standards in controlling manufacturing procedures.In the absen
101、ce of applicable national or industrial standards,the Company will adopt the internal standards to ensure that product quality meets applicable standards and continuously improve customers experience.(3)After-sales service Shanghai Consumer Council has been making efforts to establish cooperation wi
102、th enterprises,a complaint mechanism is built to enable consumer disputes to be settled first.Through the 12315 system,Shanghai Consumer Council sends the complaint information to the complained enterprises timely,so that the enterprise can know and handle the complaints in the first time.To make be
103、tter use of the mechanism,the Company has developed an after-sales service system to designate departments and personnel to handle consumer complaints.Relevant personnel log in to the 12315 complaint handling system daily to check the Company-related complaint information,contact consumers timely wi
104、thin one working day after receiving the complaint,record the content of the contact,and try to coordinate and settle with consumers within 15 working days.If settlement can not be reached,relevant personnel will patiently communicate with and explain to consumers,trying best to make the consumers s
105、atisfied.(4)Privacy protection The Company fully respects the privacy of customers,strengthens the management and protection of customers information security to prevent data from being disclosed,safeguard rights and interest of consumers.2.Supplier(1)Collaboration and win-win With the idea of partn
106、ership in its business operation,the Company has strived to build a high standard supply chain ecosystem.20 The Company keeps upgrading the management for supply chain,and has information collaboration,inventory optimization,financial support,quality and order management,performance optimization to
107、help supply chain partners to be stronger,improve consistency and operation capability of our supply chain partners.(2)Fairness and integrity-anti-corruption The Company has established a procurement system with fairness and integrity.The Company held regular supplier meetings,strengthened exchanges
108、 and cooperation with suppliers,and realized the stable development of cooperative relations.The Company has established and improved relevant systems and strengthened cash management and financial risk control to ensure the safety of assets and funds,protects the legitimate rights and interests of
109、suppliers.In order to enhance sense of integrity of the Companys personnel,the Company strictly follows the applicable national laws and regulations to supervise the business conduct of its personnel,prevent commercial bribery,implement public bidding,implement transparent procurement,and eliminate
110、improper transactions such as favoritism,fraud,black-box operations,and commercial bribery to protect the legitimate interests of the Company and suppliers and maintain a favorable business environment.(3)Shared responsibility The Company requires its suppliers to pass the quality management system(
111、ISO 9001),environmental management system(ISO 14001)and occupational health and safety management system(ISO 45001)certification,and urges suppliers to enhance their awareness of social responsibility and make them aware that the implementation of social responsibility is good for the sound developm
112、ent and long-term interests of themselves.This encourages suppliers to implement corporate social responsibility management and improve corporate operating philosophy.21 3.Distribution partner(1)Collaboration and win-win Based on the characteristics of stationery products and the current status of s
113、tationery consumption in China,the Company has established a targeted sales model that focuses on regional distribution,complemented by direct sales,direct sales in large stores,KA sales,online sales and overseas distribution,and has taken the lead in the domestic stationery industry to carry out br
114、and sales management and franchise management of large-scale retail shops.The Company has a strong first-mover advantage and leading advantage with its wide and deep coverage of its distribution network in stationery industry,and the efficient management of the distribution system.As of 2020,the Com
115、pany has 36 tier-1(provincial)partners across the country,covering tier-2 and tier-3 partners and key accounts in 1,200 cities and more than 80,000 retail shops.(2)Continuous optimization The Company performs customer satisfaction surveys every six months to identify the real needs of customers and
116、incorporate them into the Companys service goals.Based on the feedback and suggestions from the Customer Satisfaction Survey Form submitted by the customers,we will subdivide the relevant information and make targeted solutions for different customers to make up for the service deficiencies,meet cus
117、tomers personalized service needs,and provide customers with more comprehensive and better services.(III)Human Resources The past achievements depend on the efforts of every M&G employee and the 22 future success requires hard work of more M&G employees.Talents are the most valuable asset for the fu
118、ture development of the Company.As the Company grows,it will provide more opportunities for its partners.We advocate values of sincerity,collaboration,focus,win-win,and customer-centric.We are committed to providing everyone with opportunities and space for sustainable development and creating ideal
119、 conditions and environment for realizing value of life.1.Basic rights and interests The Company has established a complete recruitment mechanism and remuneration and welfare system in strict accordance with the Labor Law of the Peoples Republic of China and other laws and regulations.It respects,pr
120、otects and safeguards the basic rights and interests of every employee.The Company upholds the principle of fairness and justice,recruits employees based on job requirements,eliminates gender,age,and geographic discrimination.The Company adheres to the people-oriented philosophy and manages labor re
121、lationship as required by laws.The labor contract signing rate is 100%.At the same time,the Company offers old-age insurance,medical insurance,work injury insurance,unemployment insurance,maternity insurance as well as housing provident funds for its employees in accordance with applicable national
122、and local regulations.2.Development of talents M&G Stationery aims to build a world-class team with ethical,dedicated,and high-quality employees.To support the rapid growth and effective operation,the Company has built a mechanism for selecting and developing self-motivated and self-disciplined tale
123、nts.The Company provides employees with various forms of training,including but not limited to the following:(1)New employee training system It not only helps new employees to adapt to the new environment and new jobs,23 but also facilitates the recognition of new employees to M&G Stationerys corpor
124、ate culture and enhances their sense of responsibility and mission.(2)Professional ability training system M&G Stationery provides systematic vocational training for production backbone to improve their professional quality.By nurturing the corporate culture of coaching,the technical expertise hande
125、d down from years of business development can be passed to less experienced employees,who will in future form integral part of technocrats team boasting excellent professional competence and official recognition.(3)Management ability training system M&G Stationery provides a series of management tra
126、inings for managers at all levels to systematically improve their competence.This assists the Company in forging an executive team boasting combined skill sets in business operation,management and leadership,who will in future direct the Company in a more institutionalized,orderly and effective way
127、while reflecting the Companys culture with a consistent management style and management philosophy.24 3.Vocational development M&G Stationery offers competitive remuneration package to its employees in its industry,and is also consistent in promoting and facilitating the promotion of those highly co
128、mpetent employees who match the culture of M&G Stationery and take the ownership of responsibilities.By establishing multiple channels of vocational development and forging an employees team of different skill levels,M&G Stationery has remained an enabler of outstanding professionally competent empl
129、oyees while focusing on the development of generic management talents,well-rounded management talents as well as highly professional technocrats playing a leading role.4.Communication channels The Company advocates a culture that is transparent,with clear division of responsibilities and with active
130、 communication.It encourages an equal and unimpeded dialogue among employees and between employees and their superiors.Employees can propose reasonable suggestions or opinions to the Company through the channels and ways such as superior and subordinate interviews,human resource center,the Companys
131、suggestion box,opinion survey organized by the Company through contact information released by the Company.5.Welfare system Employee care is the basic guarantee for the sound growth of employees and the sustainable development of the Company.Through the care of employees,the Company 25 aims at culti
132、vating a more positive attitude of employees,creating a more harmonious team atmosphere,enhancing team cohesion,innovation and execution,and promoting the realization of corporate strategic goals.(1)Office and entertainment Cozy and joyful working environment and relaxation facilities are made avail
133、able to each employee of M&G Stationery.One can find within the Companys premises such facilities as neat office buildings,book bars,gym,indoor basketball square,training classroom,employees dormitory,canteen etc.The Company regularly holds inter-employees recreational activities as sports events,ar
134、t festivals,weekend parties etc.for employees to choose according to their personal interests,for a better work and life balance.(2)M&G Heart Plan M&G Rainbow Charity established the M&G Heart Plan to provide employees with medical subsidies for major illnesses and outstanding scholarships.Any emplo
135、yee that is eligible can apply for subsidies from the Company and recipients are required to complete a total of 3 hours of volunteer service in the next year.In 2020,a total of RMB80,000 in cash was granted under the M&G Heart Plan.6.Work safety In order to ensure workplace health and effectively r
136、espond to unsolicited accidents,the Company has formulated such institutionalized workplace guidelines as“Control Policies on Workplace Safety”,“Policies on Workplace Safety Related Training”,“Control Policies on Fire Prevention Practice”and“Precautionary Plans against Typhoon,Flood and Lightning St
137、rike”etc.Moreover,the Company has taken 26 such initiatives to prevent any potentially hazardous risks from impacting the workplace safety as including pre-employment orientation on workplace safety,upgrade of such fire-fighting and fire prevention devices as well as ad hoc or recurring inspection o
138、n workplace safety etc.In 2020,the safety training organized by the Safety Office covers safety benchmark training,special operation personnel training,plan drill training,KYT activity training,heatstroke prevention and flood prevention training,attracting more than 5,600 participants.The pre-employ
139、ment orientation on workplace safety provided by the HR Department and each branch is completed before the new employees are formally employed.The routine safety training responsible by each branch is carried out at least twice a month with registration record to cover all front-line employees.In 20
140、20,there were no accidents in connection with workplace safety reported pursuant to“Ordinance on the Investigation and Reporting of Workplace Safety Related Accidents”issued by the State Council.27(IV)Charity M&G Stationery is committed to making joint efforts with governments,communities and non-go
141、vernmental organizations to boost the economic development of the business locations,improve the quality of life of residents,continue carrying out charity and public welfare undertakings,and promote the harmonious development of the community.In September 2015,M&G Stationery established the M&G Rai
142、nbow Charity Special Fund.M&G Rainbow Charity has performed a number of public welfare activities for rural education,such as Gold Seeds Plan,Rainbow Creative Classroom,Rainbow is Coming Plan,and Kids of the Stars.As a leader in the stationery industry,M&G Stationery hopes to spread the concept of k
143、indness to more children through its influence and believes that in the future,they can also spread the love and stories and make contributions to the society.In 2020,the Company donated RMB3 million to establish Shanghai M&G Charity Foundation,and hoped to conduct more public welfare undertakings i
144、n the future and better integrate social responsibility into corporate development strategy.In 2020,M&G Stationery donated stationery and cash worth around RMB6 million for public welfare undertakings.1.Pandemic containment Since the beginning of 2020,the whole country experienced a smokeless battle
145、.Countless heroes have devoted themselves to the front line to protect the health and safety of the Chinese people.The Company has also endeavored its best to provide support.The Companys subsidiary,M&G Colipu,moved fast and overcame difficulties to advance to Wuhan,opened a special line for pandemi
146、c prevention materials,gave priority to providing protective materials to the frontline of pandemic prevention.In addition,M&G Colipu leveraged its own channel advantages,boosted supplies of products and transport for epidemic prevention and control.The Companys subsidiary,M&G Office also took quick
147、 action to shorten the development cycle and launched 28 office pandemic prevention products within two weeks.M&G Rainbow Charity donated 70,000 masks to Hubei at the start of a new semester,and donated pandemic prevention kits worthy of RMB400,000 to schools,that could be used by about 10,000 perso
148、ns.2.Poverty alleviation The year 2020 is the last year of poverty alleviation and M&G Rainbow Charity has not been absent on the road to alleviate poverty.After initial success of the country,the focus next is on preventing the return to poverty and continue laying emphasis on rural education and r
149、ural revitalization.Poverty alleviation begins after education improvement.Education is a bridge linking the countryside and the city.Only a sound education can present children a bright future.Since September 2015,the Gold Seeds Plan has been launched in 32 poverty-stricken counties in 14 provinces
150、 and 100,000 Gold Seeds stationery gift packs worth more than RMB27 million were donated.In the past five years,we have allocated more than RMB2.5 million to the underprivileged teachers and students.Furthermore,we follow the national poverty alleviation strategy,provide stationery gift packs to rur
151、al schools across the country,and pass the concept of public welfare to partners.Now,there are 11 branches of Rainbow Charity in China and each branch is led by the general manager of the regional partner,who is responsible for assisting the local governments and social organizations in public welfa
152、re activities.(1)Poverty alleviation-Gold Seeds Plan In 2020,M&G Rainbow Charity donated 9,650 gold seed packs amounting to RMB2.32 million,covering 10 provinces,benefiting more than 10,000 teachers and students.(2)Post-poverty alleviation-Spring Bud Program At the end of 2020,Shanghai M&G Charity F
153、oundation reached a partnership with Shanghai Childrens Foundation,donating RMB150,000 as the living subsidies for 100 female college students in Yunnan Province.The Spring Bud Program is a rescue 29 program for out-of-school girls initiated by China Children and Teenagers Fund.M&G Stationery respon
154、ded positively and made a contribution to girls education in China.3.M&G Rainbow Creative Classroom M&G Rainbow Charity found that creativity is the foundation of quality-oriented education and reading and art education play an important role in awakening and shaping childrens personality and aesthe
155、tic perception.M&G Stationery has rich resources and experience in cultural and creative fields.Making use of these advantages,Rainbow Charity has established M&G Rainbow Creative Classroom.As of 2020,a total of 30 creative classrooms have been established.4.Rainbow is Coming Rainbow Charity is acti
156、vely working with other like-minded partners to use its advantages to exert collective influence.The social innovation brought about by collective influence can benefit several parties.In recent years,Rainbow Charity has been actively involved in rural education in China,hoping to make quality educa
157、tion also available for children in remote areas.(1)Jack Ma Foundation In 2020,we continued working with the Rural Teachers and Principals Program initiated by the Jack Ma Foundation to fund rural teachers to carry out teaching programs for the third consecutive year.In 2020,we donated stationery wo
158、rth RMB2.15 million to 100 village teachers and 20 village principals to facilitate the teaching of the rural teachers.(2)Shenzhen One Foundation Since 2019,it has reached a partnership with One Foundation to create charitable 30 kits with artistic style.The charitable kit is composed of a variety o
159、f daily necessities and materials to keep children warm during the winter.In 2020,the Company also provided One Foundation 50,000 boxes of artistic oil painting sticks that were worth RMB860,000,so that children could be immersed in creative life after their basic living needs were satisfied.(3)Tikt
160、ok Charity On the occasion of Teachers Day in 2020,Rainbow Charity and Tiktok Charity jointly launched a teachers day event,giving full play to the advantages of companies to attract social concern to rural education.During the event,it received more than 2 billion clicks and views in total,effectiv
161、ely using new media to play the power of public welfare,fulfilling social responsibilities,and manifesting brand power.5.Kids of the Stars In 2020,M&G Rainbow Charity continued investing RMB300,000 in cash to support the creative training for children with autism and organized competitions to select
162、 outstanding works.In 2020,the Company developed four public welfare products,and the profits from the products were used in the project operation.Additionally,we also provided bonuses for outstanding works of young authors and held visits and lectures,in the hope that they can integrate into societ
163、y.It also helps create a new public welfare mode of teaching people to fish.Works from Kids of the Stars were exhibited in major domestic exhibitions.31 32 IV.Governance(I)Corporate Governance 1.Governance system M&G Stationery has been committed to optimizing the Companys internal governance struct
164、ure and enhancing the corporate governance.The Company,in strict compliance with laws and regulations such as Company Law,Securities Law and Code of Corporate Governance for Listed Companies,as well as regulatory documents issued by China Securities Regulatory Commission regarding the governance of
165、listed companies,and based on its actualities,has established a strict three-board operation system and a clear decision-making authorization system.Besides,the Company has strengthened the construction of the internal systems,providing basic system guarantees for corporate governance,preventing ope
166、rating risks,and protecting the legitimate rights and interests of all shareholders.Management/monitoring Monitoring/guidance Management Appointment Supervision Review Accountability Accountability Accountability Accountability Accountability Internal audit Management General shareholders meeting Bu
167、siness activities External audit Board of Supervisors Board of Directors Audit Committee Remuneration and Appraisal Committee Nomination Committee Strategic Committee Committees of the Board of Directors Accountability Accountability Accountability Review Employment Election Election Supervision 33
168、In 2020,the Company held 6 general meetings of the Board of Directors,5 meetings of Board of Supervisors and 2 meetings of shareholders.The general shareholders meeting,Board of Directors,Board of Supervisors,the management as well as independent directors perform functions in a regulative manner.By
169、 virtue of the strict segregation of powers and duties as well as the inter-collaboration amongst authority body,decision-making body,supervisory body and executive body,the general policies of the Company is very effective in preventing the abuse of power.The Board of Directors of the Company consi
170、sts of 7 directors,including 3 independent directors.The independent directors of the Company,in compliance with“Rules on the Functioning of the Board of Directors”,“Guidelines on the Performance of Duties by Independent Directors”and other applicable regulations,have exercised discretionary review
171、over the deliberation and decision making procedures regarding the appointment of Company officer(s)and related party transactions etc.and expressed their independent professional opinions.They have effectively fulfilled their duties,ensuring the Company operating in a regulative manner and gaining
172、quick growth.Subordinated to the Board of Directors,the Strategy Committee,Audit Committee,Remuneration and Appraisal Committee and Nomination Committee perform their respective functions in strict compliance with respective implementing rules.In 2020,the Audit Committee convened 5 working meetings,
173、the Nomination Committee 2 working meetings,the Strategy Committee 1 working meeting,and the Remuneration and Appraisal Committee 1 working meeting,giving full play to its professional role in promoting the business management and standardized operations of the Company.2.Internal control The Board o
174、f Directors of the Company has established sound and effective internal control system in compliance with“General Guidelines on Enterprise Internal Control System”and its interpretations as well as other regulatory requirements governing internal control,with the Board of Supervisors overseeing the
175、establishment and implementation of internal control system by the Board of Directors.The 34 management shall be responsible for directing and coordinating the day-to-day running of the Company.The Company has established sound and complete internal control policies and procedures which give detaile
176、d specification on such issues as significant business decisions at corporate level,investing and/or financing activities,related parties transactions,assets management as well as approval process,limits of approving authority and pertinent responsibilities pertaining to payments to third parties an
177、d expense reimbursement.Meanwhile,instructed by the Audit Committee subordinated to the Board of Directors,the Audit Department of the Company has conducted independent audit and appraised on the effectiveness and efficiency of the design and implementation of internal control system.In 2020,the Com
178、panys internal control system has been basically sound and no defects or abnormalities that have significant impacts on corporate governance,operation management and development have been found.The Company has focused on the construction of internal management risks and internal control system,conti
179、nuously optimized and improved internal control business processes and concerned supporting systems,continuously improved the internal control environment,strengthened training and publicity,to enhance the awareness of risk and risk control of the personnel at all levels,including the management.Mea
180、nwhile,the Company has improved the efficiency of risk management audit and emphasized the substantive elimination or reduction of risks so as to avoid the recurrence of internal control defects.In addition,the Company has made efforts to fundamentally solve problems by virtue of IT means or process
181、 improvement,ultimately improving the internal control management.(II)Corporate Conduct 1.Compliance with laws and regulations-anti-corruption Legal compliance is fundamental to business operation.M&G Stationery highly emphasizes risks management during operation and continuously promotes policy est
182、ablishment and culture building for compliance to ensure its stable operation.The 35 Company organized relevant personnel from functional departments to participate in compliance training from time to time.In 2020,13 legal and regulatory trainings including advertising compliance training,product la
183、beling compliance training,and intellectual property compliance training were provided.In addition to relevant training,the Company has established a sound anti-fraud system and set up a dedicated telephone line and email to encourage reporting fraud.On the prominent positions of M&G Cloud Integrati
184、on Platform and OA,the Company has placed links to publicize the ways to report fraud.The Company produces anti-fraud publicity posters on a regular basis,which are posted up in the areas with large flow of people in the Company and in each branch factory.The posters are checked regularly.In case of
185、 any loss,additional posters will be posted up.The Company has signed the Procurement Integrity Agreement with its employees,external companies,and all annual suppliers,which also covers the way of reporting.Any employees and external interested parties with direct or indirect business connection wi
186、th the Company may whistle-blow any actual or suspected fraudulent behavior conducted by the Company and its employees by means of whistle blowing hot-lines or email etc.Furthermore,the Company promotes anti-fraud to all employees and suppliers by means of WeChat official account platform and corpor
187、ate WeChat platform of the Company.36 2.Tax responsibility Taxation compliance has always been considered by the Company as basic requirement of performing social responsibility and reciprocating local community.The Company has,in strict compliance with applicable taxation laws and bylaws,performed
188、its legal obligation of timely and full settlement of tax liabilities arising from bona fide business activities.In 2020,the Company paid about RMB700 million tax as required by laws.According to the 2020 tax payment credit evaluation results of the tax service,the Companys tax credit in 2019 was ra
189、ted as Level A.3.Dividend return Emphasizing reasonable returns to our investors,the Company maintains ongoing and stable dividends policies to fully safeguard the benefit of minor investors.Pursuant to“Notice Regarding Further Implementation of Cash Dividend Distribution by Listed Companies”and“Reg
190、ulatory Guidance No.3 of Listed Companies Cash Dividend Distribution of Listed Companies”issued by the China Securities Regulatory Commission,the Company has formulated a“three-year dividend distribution plan(from 2020 to 2022)”.If the Company satisfies the conditions for cash dividends,priority sho
191、uld be given to profit distribution by means of cash dividends.During the recent three years,the cash dividends have increased year by year,accounting for over 30%of net profit attributable to the ordinary shareholders of the listed company in the consolidated financial statements,which ensured that
192、 the investors share the business results.Year for dividend distribution Amount of dividends distributed per 10 shares(RMB)(inclusive of tax)Amount of cash dividends(RMB)(inclusive of tax)Net profit attributable to the ordinary shareholders of the listed company in the consolidated financial stateme
193、nts for the year Percentage of the net profit attributable to the ordinary shareholders of the listed company in the consolidated financial statements(%)37(RMB)2020 5 463,713,800 1,255,426,655.26 36.94 2019 4 368,000,000 1,060,083,625.03 34.71 2018 3 276,000,000 806,847,308.41 34.21 4.Investor relat
194、ions On 1 March 2020,the new Securities Law was formally enforced,providing greater protection for investors.It is self-evident that strengthening investor protection is of great significance to the long-term stable and sound development of the capital market.How to improve the initiative and consci
195、ousness of all market participants for investor protection is the key to further improve the investor protection in the market.For listed companies,investor relationship management is not only essential to strengthen investor protection,but also important to continuously improve the investor protect
196、ion,form a benign interaction with investors and maximize the overall interests of the Company.In 2020,the Company held annual performance briefings to communicate with investors through offline,online,telephone and other ways to answer the investors questions,and regularly publish them through SSE
197、E-Interaction.All queries raised by investors via Internet platform were appropriately replied.Moreover,the Company has,in consecutive years,held public reception conferences to deliver answers to questions concerned by the investors for safeguarding the interests of Companys shareholders as a whole
198、.5.Information disclosure The Company,in accordance with the Rules Governing the Listing of Stocks on Shanghai Stock Exchange,the Administrative Measures for the Disclosure of Information of Listed Companies and other laws and regulations,has improved the Companys information disclosure management s
199、ystem and strictly implemented the relevant regulations on information disclosure,guaranteeing the authenticity,accuracy,38 completeness,timeliness and fairness of the Companys information disclosure.In addition,the Company also actively cooperated with the securities regulatory authorities of China
200、 to further strengthen the Companys information disclosure through system construction,comprehensively elevated the quality of information disclosure,and enhanced the transparency of information disclosure,contributing to the effectiveness of the whole capital market.In 2020,40 interim announcements
201、 and 4 regular announcements were made.We have registered the insider information relating to major issues and promptly filed,therefore eliminating any insider trading and ensuring that all the investors can access the information of the Company equally.The Companys information disclosure in 2019-20
202、20 was rated by the Shanghai Stock Exchange as Grade A.39 V.Outlook With the economic development of China,residents income has increased rapidly,the middle-income population has continuously expanded,and consumption upgrading.Consumers have raised higher requirements for products and services,and a
203、ttached more importance to quality and famous brands,presenting personalized,diversified and high-end consumption.Facing consumption upgrade and the change in demand among the young generation,M&G Stationery will embrace these challenges,upgrade its branding,products and channels,as well as maintain
204、 momentum for high-quality growth.Looking ahead,M&G Stationery will,as always,focus on premium quality and pursue constant innovation in response to the changing demand of consumers.The Company will also develop itself into a well recognized brand with global competitiveness and boost the healthy an
205、d sustainable development in the industry,helping a sustainable and high-quality growth in China.The year 2020 marks an extraordinary year.Everyone faced a number of challenges.M&G Stationery remained true to our original aspiration and kept our mission firmly in mind and strove to contribute to the
206、 society.The pandemic may slow down the pace of society,but will not stop it.In 2021,M&G Stationery will continue remaining true to our original aspiration and pressing forward.With its unique advantages in the stationery industry,M&G Stationery will continue to assume social responsibilities,fulfill corporate responsibilities,and continue to make contributions to education,charity,poverty alleviation,and development of rural education in China.