Industry News

According to Wind statistics, there are a total of 50 listed companies in the consumer electronics industry. As of April 26th, 39 companies have disclosed their ESG reports for the year 2025 (including sustainability reports and social responsibility reports). The number of companies with the latest ESG rating of A or above has increased significantly compared to 2025, while 16 companies have maintained their ESG rating at a lagging level in the industry since 2024.

 

As an important sector of global manufacturing and sales, the ESG governance of related enterprises in the consumer electronics industry is constrained and driven by supply chain requirements. Experts believe that supply chain management capability has become a key factor affecting the ESG governance level and competitiveness of consumer electronics enterprises.

 

Overall rating improvement shows significant polarization

 

As of April 26th, a total of 39 out of 50 listed consumer electronics companies have disclosed their ESG reports for the year 2025, with a disclosure rate of 78%. According to the disclosure of ESG reports for the year 2024, it is expected that the disclosure rate of industry ESG reports will exceed 80% in 2025.

 

Meanwhile, the ESG ratings of companies in this industry have significantly improved. According to Wind ESG rating, there are a total of 34 industry listed companies with the latest rating of A or above, accounting for 68%. By the end of 2025, there will be only 15 such companies, accounting for 30%. Among them, Huaqin Technology has upgraded from AA level in 2025 to the latest AAA level, making it the listed company with the highest ESG rating in the industry. Baiwei Storage has upgraded from BB level in 2025 to the latest AA level. Lixun Precision and Zhaoyi Innovation have upgraded from BBB level in 2025 to the latest AA level. In addition, BOE, GoerTek, Crystal Optoelectronics, Haier, Shenghong Technology, Shengbang Shares, and Transsion Holdings have all achieved a leap from "B" to "A" in ESG ratings since last year.

 

At the same time, there is a clear polarization in the ESG performance of companies in the industry, with 16 companies having maintained ESG ratings ranging from B to BBB since 2024, lagging behind the industry. The latest ESG ratings of several companies, including Keboda, have all declined compared to 2024.

 

An ESG practitioner introduced to reporters the methods for observing the performance gap of ESG ratings among listed companies in the industry: in the environmental dimension, leading companies achieve full lifecycle carbon management, promote the application of renewable energy and circular economy, lead green supply chains, and ensure transparent information disclosure; Backward enterprises only achieve partial emission reduction without clear emission reduction targets and incomplete information disclosure. In terms of social dimension, leading enterprises focus on supply chain management, data security, employee development, and community responsibility; Outdated enterprises only meet basic compliance requirements. In terms of corporate governance, leading companies have top-level ESG governance structures and comprehensive compliance systems; Outdated enterprises lack specialized governance measures.

 

For example, Shenghong Technology's 2025 ESG report disclosed that the company has established and operated an HSF (Hazardous Substance Reduction) management system to ensure green compliance throughout the entire lifecycle of all product models, and has set a carbon reduction target for 2030. Lixun Precision disclosed that the company has established an information security management system and conducted internal training, promoted the construction of a digital quality platform, and facilitated the traceability and improvement of product quality throughout the entire process. However, companies with ESG ratings of B, such as Rainbow Holdings, Goodix Technology, and Rockchip Micro, have not yet disclosed independent ESG reports.

 

Industry insiders believe that the differences in ESG performance of listed consumer electronics companies stem from differences in industry chain location, external constraints, scale and cost bearing capacity, as well as differences in cognition and strategic positioning. Ma Zongming, Director of the International ESG Research Center of China Galaxy Securities, believes that the leading companies in the industry, as core suppliers of international brands, are forced by the mandatory ESG access threshold of downstream customers, coupled with sufficient funds, manpower, and technology, and regard ESG as their core competitiveness; Small and medium-sized manufacturers often do not face mandatory requirements or prioritize survival due to differences in strategy and understanding, viewing ESG as an additional compliance cost, with insufficient endogenous motivation and resource investment.

 

The importance of supply chain management is highlighted

 

In the consumer electronics industry dominated by the To B model (sales to enterprises), the supply chain is becoming a direct driving force for companies to strengthen ESG governance. Wei Zhiyuan, Director of ESG and Sustainable Finance at Fitch Ratings Asia Pacific, said, "Downstream customers' demand for green and low-carbon products has brought strong transformation momentum to related enterprises, prompting changes in the entire consumer electronics industry

 

Reporters have found that since 2025, among the listed companies in the industry that have improved their ESG ratings, there are many suppliers from Apple, such as Lite On Precision, Huaqin Technology, GoerTek, and Crystal Optoelectronics. Apple plans to achieve carbon neutrality throughout its entire supply chain by 2030 and has set requirements for suppliers in terms of using renewable energy and reducing product carbon footprint. Among listed consumer electronics companies, the latest ESG rating of "Guolian" company has basically reached A level or above.

 

Yin Gefei, founder of Qiyang Tianxia and member of the ESG Professional Committee of the China Association of Listed Companies, believes that the overseas strategy has strengthened ESG governance for consumer electronics listed companies. According to Wind data, there are 12 listed companies in this industry with overseas business revenue accounting for over 70% in 2025. The latest ESG ratings of these companies are all A-level or above, and 5 of them have improved their ratings compared to 2025.

 

Yin Gefei stated that taking the accounting of product carbon footprint in ESG work as an example, the degree of internationalization and participation in international trade of related companies' supply chains will greatly affect the progress of their product carbon footprint accounting. The reporter found that BOE and Huanxu Electronics have advanced product carbon footprint accounting work earlier and their systems are relatively mature. BOE has built an integrated cloud management platform that covers multiple dimensions including smart energy management, product carbon footprint, and corporate carbon emissions. Huanxu Electronics has been conducting product carbon footprint inspections since 2017, and by 2025, it has completed carbon footprint inspections for 5 series, totaling 179 products.

 

Meanwhile, the quality of supply chain management has also become an important factor affecting a company's competitiveness. The excellent performance of related companies is closely related to their supply chain management capabilities. According to the disclosed ESG reports of related companies for the year 2025, consumer electronics companies mention multiple dimensions of information in their disclosure of supply chain issues, which are related to the company's strategy, including supply chain resilience, supply chain efficiency, low-carbon transformation of the supply chain, digital upgrading of the supply chain, responsible procurement, product traceability, etc. ”Yin Gefei said that supply chain resilience is becoming increasingly frequent, and some companies have proposed clear response strategies, including promoting supply chain diversification and reducing dependence on a single supplier; Localization of procurement and construction of industrial clusters; Set up safety stock; Create a good cooperative relationship of mutual trust, etc.

 

The digital management of supply chain is increasingly being discussed by listed companies in this industry. According to the 2025 ESG report of relevant companies, digital management of the supply chain has become a technological means for listed consumer electronics companies to control supplier quality, monitor supply chain risks, and promote low-carbon transformation of suppliers. As stated by BOE, the company has established a supplier management system that combines "green procurement, evaluation, empowerment, and digital support", and will implement a "dual carbon performance assessment" for high carbon emission category suppliers starting from 2025, effectively transmitting the power of emission reduction to upstream and downstream.

 

Industry changes bring about updated topics

 

In the 2025 ESG report, several listed consumer electronics companies have listed supply chain related issues as highly important topics, such as Luxshare Precision's emphasis on supply chain security and sustainable development, BOE's emphasis on sustainable supply chain, and Transsion Holdings' emphasis on supply chain management and equal treatment of small and medium-sized enterprises.

 

Experts suggest that listed consumer electronics companies need to pay attention to data security and compliance while implementing ESG management in their supply chain. Wu Yanyang, Senior Researcher at Xingye Carbon Finance Research Institute, suggests that relevant companies should implement ESG information classification and management in the collection, disclosure, and cross-border process of supply chain ESG information, attach great importance to regulations related to data export, and achieve a balance between supply chain security, data security, and sustainable development.

 

In addition, with new technological advancements and policy regulations in the consumer electronics industry, relevant companies need to combine new era propositions when promoting ESG governance.

 

Ma Zongming stated that the integration of AI technology into consumer electronics products is bringing new issues and challenges to listed consumer electronics companies. In terms of environmental factors, the demand for AI big model computing power in consumer electronics products has surged, leading to a significant increase in device power consumption and carbon emissions. Relevant companies need to balance technological innovation, energy efficiency, and product lifecycle carbon footprint; At the same time, the development of AI technology has accelerated product updates and further exacerbated the generation of electronic waste. In the social dimension, the use of AI functions may involve the collection of sensitive personal information, leading to a continuous increase in compliance risks for data privacy and security protection. In terms of corporate governance, enterprises urgently need to establish an internal governance framework adapted to AI applications, and the industry also needs to promote compliance standards for AI applications to meet the differentiated regulatory requirements of various countries.

 

In addition, the "Technical Specifications for Pollution Control in the Treatment of Waste Electrical and Electronic Products" officially came into effect on March 1st this year. Ma Zongming believes that the implementation of regulations will raise the compliance threshold for waste disposal in the industry and promote the construction of a recycling system for electrical and electronic products; At the same time, it is required that enterprises fully consider the disassembly and recyclability of products in the product design stage, promote the adoption of green design by enterprises, and transmit relevant requirements to the supply chain.

 

In the 2025 ESG report, Transsion Holdings mentioned that in the process of mass production and delivery, the company strengthens cooperation with environmentally friendly suppliers, selects renewable, biodegradable or certified green raw materials, and reduces its impact on the environment; Crystal Optoelectronics stated that the company reduces the generation of industrial solid waste and promotes comprehensive utilization. By 2025, 53% of the total waste will be recycled and reused.

 

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