Compliance and Honesty

Yutong's fundamental principles and company culture revolve around the values of "Morality, Coordination, Innovation". The Company prioritizes enterprise compliance and honesty management as core components of its operation and management concepts, with the ultimate goal of "becoming a world-leading public transportation solution provider and a mid-to-high-end bus brand for more users around the world".

In the face of market competition, Yutong has always advocated and committed to cultivating core competitiveness through leading technology, advanced process, reliable quality and thoughtful service, and winning competition to create the best customer experience. Yutong's tenacious growth is also inseparable from continuous reflection and self-innovation in compliance management. Yutong has always adhered to the bottom line of compliance management with high standards of self-requirements, established and improved an effective compliance management and anti-commercial bribery management system, and continuously implemented compliance management into business activities and processes to create a fair, honest and clean business environment and compliance culture with every employee, customer, dealer, supplier and other cooperative units.

Compliance Commitment of Yutong Senior Management

The management of Yutong always adheres to high standards and requirements, upholds the core operation and management concept of enterprise compliance and integrity management, and takes the initiative to put forward more demanding guidelines in addition to the basic moral line of law-abiding. Yutong is committed to establishing and continuously improving the best compliance management and anti-commercial bribery management system in the industry, conscientiously implementing the code of conduct for employees and various regulations on compliance and integrity of leading cadres, establishing a compliance culture of active compliance and compliance to create value, and requiring every employee to adhere to professional ethics and values of compliance, honesty and integrity in business.

Compliance Management of Yutong

Compliance organization: The Legal Affairs Department is responsible for organizing and carrying out various compliance management, assisting the Chairman and General Manager of Yutong in implementing various legal compliance requirements. Yutong has established four lines of defense and responsibility system for compliance operation. Business departments are the first line of defense to identify, prevent and respond to compliance risks, professional competent departments such as finance are the second line of defense, the Legal Affairs Department acts as the third line of defense, and the Internal Control and Supervision Department serves as the independent fourth line of defense. Each employee in the company bears the responsibility of identifying, preventing, and responding to compliance operation risks.

Compliance regulations: Yutong Group places a high emphasis on effective compliance management. To achieve this, the Company has established and released several regulatory management systems, including the Regulations on Criminal Compliance Management, Regulations on Anti-Commercial Bribery Management, and the Business Compliance Instruction Manual.

Compliance process: According to applicable laws and regulations and in combination with business scenarios, Yutong Group has set compliance objectives, and formulated corresponding control measures and implemented them into business activities and processes through identifying and evaluating risks, to achieve compliance management and supervision of the operation of each business link. At the same time, Yutong Group checks the effectiveness of the compliance management system through inspection and auditing, and continuously optimizes the compliance management system through traceability and improvement.

Compliance culture: Yutong Group attaches great importance to continuously improving the compliance awareness and ability of employees. Through training, publicity, assessment, accountability and other means, Yutong Group ensures that employees fully comprehend their compliance obligations and responsibilities as individuals and team members, and organizes employees to sign a Compliance Commitment Letter to integrate the compliance concept into each employee's work habits and behavior.

Compliance co-construction: Yutong Group carries out active and open exchanges and cooperation with customers, third parties, suppliers, dealers and other partners as well as regulatory agencies of various countries and other stakeholders. In relevant contracts, cooperation agreements and other cooperation texts, Yutong Group clarifies compliance requirements, anti-commercial bribery statements, compliance concepts and practices, to continuously enhance mutual understanding and trust.