- Declining product gross profit rate due to rising wages in mainland China and price competition.
- Price competition among competitors in the booming China automobile market.
- Fluctuations in raw material prices (copper and rubber).
LU HAI HOLDING CORP.
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, LU HAI HOLDING CORP. disclosed greenhouse gas emissions of 77.7K tCO2e/year. By scope: Scope 1: 2.6K tCO2e/year; Scope 2: 20.6K tCO2e/year; Scope 3: 54.5K tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
77.7K tCO2e/year
2023
Water Usage
135.7K m3/year
2023
Waste
271.89 tons/year (non-hazardous)
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 2.6K tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 20.6K tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 54.5K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
✅ Reported Environmental Achievements
- Reduced waste output by 62.87% in 2023 compared to 2022 by using sludge air drying method.
- Introduced ISO 14064-1 Greenhouse Gas Inventory since 2022. Planning to complete a third-party verification by 2025.
- Implemented energy-saving measures to reduce energy consumption and carbon emissions, aiming for a 3% reduction annually.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Increase production capacity of TPMS valves and accessories.
- Upgrade tire valve manufacturing equipment to maintain a total group monthly production capacity of approximately 70 million sets of valves.
📅 Medium-term
- Actively develop the market for niche products to acquire higher profits.
- Seek for possible strategic partner to give play to the operating efficiency of one plus one is greater than two.
- Participate in overseas exhibitions, actively establish cooperation relationship with OE car factories.
🔭 Long-term
- Reduce impact on environment from operating activity, actively introduce energy saving and carbon reduction and move towards net zero emission.
🌱 ESG Focus Areas
EnvironmentSocialGovernance