On the afternoon of November 5, Yuchai Machinery Co., Ltd. (Yuchai Machinery) held the training in observance and implementation of conflict minerals policies. Corporate leaders including General Manager Wu Qiwei and Party Secretary Ning Xingyong, two foreign staff members and 69 staff members from Yuchai's subsidiaries attended the training.
The trainer Aero Chen from the Climate Change and Sustainability Services (CCaSS) practice at Ernst & Young in Singapore has 8 years' experience in sustainability and finance in Asia-Pacific countries.
According to Chen, "conflict minerals" refer to minerals native to the Democratic Republic of Congo and its neighboring countries such as tin, tantalum, tungsten and gold, and sales of these minerals may provide financial support for continuous armed conflicts in these countries. Thus, the US Securities and Exchange Commission has imposed control over all US-listed companies, required all suppliers using conflict minerals to submit prescribed disclosure reports (SD) and conflict minerals reports (CMR) before every May 31, and encouraged cutting off fund sources of armed forces in these countries through investigations and information release. Use of conflict minerals may cause losses to enterprises because of customers' rejection to use conflict minerals.
In the training, Chen elaborated on the responsibility of Yuchai International's conflict minerals work group, Yuchai International's conflict minerals process report, the report template, etc. Regarding conflict minerals, China Yuchai International Limited has released a policy statement on its official site early that it will strictly observe the SEC-promulgated conflict minerals rules and relevant laws and regulations, perform due diligence, try to eliminate use of mineral conflicts in corporate products or production, hold relevant trainings at Yuchai Machinery, and call for common performance of global social responsibility. In the next period, Yuchai Machinery will perfect the SD and CMR based on its experience accumulated in the previous two years in regard to cancelling the option of conflict indetermination and adding the procedure of audit in 2015 or the third year.