MSCI maintains ESG rating for Times China at BBB, the highest among mainland Chinese property stocks
HONG KONG, Nov. 23, 2020 /PRNewswire/ -- Times China Holdings Limited (the "Times China" or "Company", together with its subsidiaries, the "Group", HKEx stock code: 1233), is pleased to announce that the world's renowned index rating institution MSCI (Morgan Stanley Capital International) has maintained its environmental, social and governance (ESG) rating for Times China at BBB in its latest report. The rating is currently the highest given to the mainland Chinese real estate companies on sustainable development performance, and it ranks Times China among the top 15% of the property firms in the world.
MSCI is one of the most authoritative ESG rating institutions. Its rating system is based on a multi-dimensional big data analysis. It measures the levels of risks and the standards of management of more than 8,500 listed companies worldwide regarding their ESG practices. MSCI's ESG rating is an important indicator that institutional investors worldwide referred to.
Times China scored 6.6 points in corporate behavior, compared with the industry's average of 4.4 points. Therefore, the Company ranks among the best in real estate industry nationwide and globally. Times China has established a management structure for sustainable development since 2016 to manage its ESG practices efficiently. The Group strictly implements its measures to manage the risk of corruption to ensure regulatory compliance and business integrity. This allows the Group to achieve sound corporate development. The Group has formulated an internal integrity system that includes "Times China's Code of Conduct for the Staff", "Code of Conduct for the Staff Responsible for Investment and Business Expansion to Ensure Integrity", and "Times China's Mechanism for Reward for and Punishment of the Staff" to strictly regulate the employee's behavior. All this is aimed at advocating honesty, trustworthiness, transparency in business. The Group also organizes legal training regularly for the staff to enhance its legal awareness.
The Group has been committed to enhancing corporate transparency. Apart from regular results announcements, it also publishes monthly sales figures, maintains close communication with the investment community, and provides an unobstructed communication channel for investors by participating in and organizing from time to time activities in which it can exchange ideas with investors.
In MSCI's rating, the Group scored 5.1 points in the practices of green building, compared with the industry's average of 4.8 points. The Group has been given a "One-star" rating in China's Green Building Evaluation Standard to execute property development projects. It also keeps improving its techniques for green construction to ensure environmental protection. In recent years, the Group has won several awards and certificates for its green building practices: As of the end of 2019, a total of Times China's 23 property projects have obtained certificates for green building (including those with a one-star rating for 19 property projects and those with a two-star rating for four property projects); Times Panyu E-Park Phase II and Tianhe E-Park Phase II have passed the United States' LEED-CS Precertification at the Platinum Level, which is the highest level of the LEED-CS certification; the Group adopts industry-leading environmental technology such as the indoor pipeline integration technology to ensure more convenient house maintenance and extends the buildings' lifespan; the Group also uses an air-freshening system that removes haze to effectively filter out the air pollutants and thus ensure the health and safety of the residents; the Group uses double-layer hollow glass to insulate homes against outdoor noise and heat.
Times China has been actively fulfilling its corporate social responsibility by participating in poverty alleviation since its establishment. In 2003, the Group established Times Foundation, which focuses on fostering education, art and medical care, conducting poverty alleviation and providing disaster relief. The foundation has donated nearly RMB1,000 million in total and participated in more than 1,000 charitable activities, thus directly benefiting more than 600,000 people. Since the outbreak of the novel coronavirus pneumonia, the Group has donated more than RMB21 million in funds and medical supplies to help prevent and control the epidemic. Over the years, Times Foundation has been given many accolades, including the title of "Charitable Chinese Enterprise of 2019" and the "2019 China Listed Housing Enterprise Social Responsibility Award" by the government and industry associations.
The management of Times China said that the Group has begun its development for a new decade after 20 years of development. As a leading urban development service provider, the Group will contribute more to the sustainable development of the cities in China and seek to generate greater returns to shareholders. It would also provide consumers with better products and services and thus create great value for society. It also aims to enable more people to live a lifestyle that they desire.
About Times China Holdings Limited
Times China Holdings Limited is one of the leading property developers in China, focusing on the development of residential properties targeting at first-time purchase and first-time home-improvement demand. The Group's shares have been listed on the Main Board of The Stock Exchange of Hong Kong since 11 December 2013. Times China positions itself as a "life stylist", with a vision of introducing modern and artistic lifestyles to increasingly affluent middle- to high-income households with relatively high disposable income and strong purchasing power. As at 30 June 2020, the Group had a total of 130 major projects in various stages of development in major cities of Guangdong Province, namely Guangzhou, Foshan, Jiangmen, Dongguan, Huizhou, Zhuhai, Zhongshan, Qingyuan, Zhaoqing, Shantou, Shanwei and Heyuan, as well as in Changsha, Hunan Province, Chengdu, Sichuan Province and Hangzhou, Zhejiang Province.