We are pleased to announce that we have issued a second party opinion confirming that Chaowei Power Group Co, Ltd’s RMB 700 million sustainability-linked syndicated loan – the first in China to be aligned with the standards of the International Sustainability Standards Board – complies with international Sustainability-Linked Loan Principles, thus supporting Chaowei Group’s green transformation and ESG goals. Chaowei Group is a leading Chinese private manufacturing enterprise. This loan was led by Industrial Bank Co, Ltd, with participation form China Minsheng Banking Corp, Ltd.
We affirmed that Chaowei Group's SLL framework complies with the SLLP, jointly published by the Loan Market Association (LMA), the Asia Pacific Loan Market Association (APLMA) and the Loan Syndications & Trading Association (LSTA). This demonstrates the framework's rigor and sophistication in terms of compliance, transparency, and the design of quantifiable sustainability performance targets (SPTs). Chaowei Group will use this framework to set and achieve a series of diversified SPTs. These include enhancing its battery recycling system to improve recycling efficiency, conducting carbon footprint verification for key products and strengthening sustainable supply chain development and compliance governance capabilities.
The signing ceremony for this landmark loan was held in Huzhou on July 4, 2025. Ms Tracy Li, General Manager of Business Assurance Sustainability and Supply Chain Services for SGS in China, attended. Speeches were delivered by Mr. Xiaoxin Li, Vice President of Chaowei Group; Mr. Baowei Shi, President of Industrial Bank Huzhou Branch Mr. Jianhao Zhu, President of CMBC Huzhou Branch and Mr Zhengwei Zhang, Special Advisor to the Chair of the ISSB and Director of the ISSB Beijing Office.
"Through this SPO service, SGS not only supports Chaowei in securing sustainable financing but also provides the industry with a replicable model for green transformation. We believe more private manufacturing enterprises will see new opportunities and pathways for sustainable transformation through our collaboration," said Mr. David Xin, Vice President of SGS in China and General Manager of Business Assurance for SGS in China . "We will continue to leverage our professional expertise to support enterprises in enhancing their ESG performance, creating long-term value for investors and society."
Chaowei Group is a privately listed high-tech enterprise specializing in the R&D, manufacturing, and sales of power and energy storage batteries. Its products are widely used in the automotive, power storage and industrial sectors. The SPT categories supported by this syndicated loan are closely aligned with Chaowei's commitment to deeply integrate sustainability into its business strategy and innovation roadmap as well as its development mission of "Advocating Green Energy, Perfecting Human Life." This provides the company with actionable and traceable execution pathways in green manufacturing and the circular economy.
Moving forward, we will continue to collaborate with more enterprises, financial institutions, and industry organizations. Leveraging our global experience and professional strengths in the sustainability field, we aim to continuously empower enterprises towards high-quality green development, contributing more practical models and smart solutions for the achievement of global sustainability goals.
IMPACT NOW for sustainability
ESG is part of our IMPACT NOW for sustainability initiative which unites all our sustainability solutions under four strategic pillars – climate, nature, ESG assurance and circularity. Together, we drive businesses toward meaningful change, helping them to meet rising regulatory and stakeholder expectations. This bold initiative reflects our unwavering commitment to helping build a climate-neutral, nature-positive and pollution-free future.
About SGS
SGS is the world’s leading Testing, Inspection and Certification company. We operate a network of over 2,500 laboratories and business facilities across 115 countries, supported by a team of 99,500 dedicated professionals. With over 145 years of service excellence, we combine the precision and accuracy that define Swiss companies to help organizations achieve the highest standards of quality, compliance and sustainability.
Our brand promise – when you need to be sure – underscores our commitment to trust, integrity and reliability, enabling businesses to thrive with confidence. We proudly deliver our expert services through the SGS name and trusted specialized brands, including Brightsight, Bluesign, Maine Pointe and Nutrasource.
SGS is publicly traded on the SIX Swiss Exchange under the ticker symbol SGSN (ISIN CH1256740924, Reuters SGSN.S, Bloomberg SGSN:SW).
