Onewo Carbon Inventory Methodology——

Disclosure framework based on GHG Protocol Scopes 1, 2, and 3

Part I: Selection of Standards

Corporate carbon accounting refers to the technical process of collecting, aggregating, and calculating carbon emissions parameters and activity data within the operational boundary, based on relevant standards, to ultimately quantify the total greenhouse gas (GHG) emissions of a company. Currently, the mainstream international and domestic standards or guidelines include the Greenhouse Gas Protocol (GHG Protocol), ISO 14064-1:2018, and GB/T 32151 Requirements for Greenhouse Gas Emission Accounting and Reporting.

In alignment with the S&P Global ESG rating system and the disclosure requirements of the Hong Kong Stock Exchange, Onewo has chosen to follow the Greenhouse Gas Protocol as the basis for its carbon accounting.

Part II: Basic Principles

The GHG Protocol requires that corporate GHG accounting and reporting adhere to the following principles：

1.Relevance: Ensure that the GHG emissions inventory appropriately reflects the company’s emissions and serves the decision-making needs of both internal and external users.

To comply with this principle, Onewo will ensure that its carbon accounting work is closely aligned with the core business characteristics of Onewo and its strategic goal of becoming a "leading energy-saving application enterprise," ensuring that the results serve business decisions and emission reduction pathway development.

2.Completeness: Account for and report all GHG emission sources and activities within the selected inventory boundary.

To comply with this principle, Onewo will clearly define its organizational and operational boundaries, fully cover Scope 1 and Scope 2 emission sources, identify and include significant Scope 3 emission sources where data is available, and clearly list and explain any excluded sources.

3.Consistency: Use consistent methodologies to enable meaningful comparisons of emissions over time.

To comply with this principle, Onewo will adopt uniform accounting methods, boundary standards, and data collection processes across reporting periods and departments, and clearly document any changes in data, boundaries, methods, or other relevant factors over time.

4.Transparency: Address all relevant issues in a factual and coherent manner, supported by a clear audit trail. Disclose all relevant assumptions and clearly indicate the accounting and calculation methodologies used, as well as the data sources.

To comply with this principle, Onewo will establish a comprehensive carbon data record-keeping system, fully disclose the methodologies, tools, and data sources used in its accounting reports, clearly state all key assumptions, and ensure that all calculation steps are traceable and verifiable.

5.Accuracy: Ensure that, to the best of knowledge, the calculated GHG emissions are not systematically overestimated or underestimated.

To comply with this principle, Onewo will establish a regular carbon inventory, data management, and information audit mechanism, update the inventory results annually, and apply them to target management, pathway tracking, and performance improvement, forming a closed management loop.

Part III: Scope Boundaries

1.Organizational Boundary:

The GHG Protocol provides two methods for consolidating GHG emissions from owned or controlled sources: the equity share approach and the control approach. The control approach is further divided into financial control and operational control.

Considering the core business characteristics of Onewo in real estate operations and the organizational boundary defined in its ESG report, Onewo adopts the operational control approach as the basis for carbon accounting. The organizational boundary covers all entities and operational facilities over which Onewo has operational control.

2.Operational Boundary：According to the GHG Protocol, the operational boundary should cover the main GHG emission sources related to the company’s operations, including:

l Scope 1 (Direct Emissions): 
Direct emissions from sources that are owned or controlled by the company.

l Scope 2 (Indirect Green House Gas emissions): 
Indirect emissions from the consumption of purchased electricity, heat, steam, or cooling.

l Scope 3(Other Indirect Green House Gas emissions): 
Other indirect emissions from the company’s value chain. According to the GHG Protocol and S&P Global ESG rating requirements, there are 15 categories under Scope 3. In 2025, Onewo will include 3 categories based on business significance, materiality, and data availability, and will clearly list and explain the 12 categories not included. The remaining categories will be gradually included in the future.

Part IV: Carbon Emission Source Identification of Onewo

The Onewo Carbon Management Working Group has determined that the carbon accounting entities of Onewo should include the following ten business units:

Vanke Service, Cushman & Wakefield Vanke Service, City Up, Dantian Property, Bon Property, Xiangying Enterprise Service, Pulin, Yanxuanjia, Vanrui IntelliTech, and Asset Operation Center.

1.Scope 1: Direct Greenhouse Gas Emissions
According to the GHG Protocol, companies are required to report GHG emissions from sources that are owned or controlled by the company within Scope 1. Based on the protocol requirements and the results of Vanke Property project surveys, the Carbon Management Working Group has identified the following direct emission sources, primarily from the combustion of natural gas, gasoline, and diesel. A list of potential emission facilities is provided below:

l [S1-A-01] Natural Gas Use

Potential Emission Sources: Natural gas boilers, heating systems, cooking equipment, water heaters, etc.

Operational Responsibility: On-site manager, maintenance staff.

l [S1-B-01] Gasoline Use

Potential Emission Sources: Company vehicles.

Operational Responsibility: Administrative staff.

l [S1-C-01] Diesel Use

Potential Emission Sources: Engineering vehicles, lawn mowers, garbage trucks, backup generators, and other self-operated equipment.
Operational Responsibility: Maintenance staff.

2.Scope 2: Indirect Greenhouse Gas Emissions

According to the GHG Protocol, companies are required to report emissions from purchased electricity, heat, steam, or cooling consumed by owned or controlled equipment or operations. Based on the protocol and project survey results, the main indirect emission sources are identified as follows:

l Purchased Electricity

n [S2-A-01] Office Electricity Use

Potential Emission Sources: Lighting, air conditioning, computers, and other plug-in equipment in office areas.
Operational Responsibility: Administrative staff.

n [S2-A-02] Common Area Electricity Use
Potential Emission Sources: Lighting in public areas, elevators, water supply and drainage systems, electrical rooms, etc.
Operational Responsibility: On-site manager.

l Purchased Heat

n [S2-B-01] Office Heating

Operational Responsibility: Administrative staff.

n [S2-B-02] Common Area Heating

Operational Responsibility: On-site manager.

3.Scope 3: Other Indirect Greenhouse Gas Emissions

The GHG Protocol considers Scope 3 disclosure to be optional and recommends that companies focus on activities that are relevant to their business and for which reliable data is available. There are 15 categories under Scope 3.

Based on the GHG Protocol and the disclosure requirements of the Hong Kong Stock Exchange, Onewo will focus on the following three categories in 2025:

l Purchased Goods and Services

n [S3-A-01] Purchased Goods

Potential Emission Sources: Water, paper, fire extinguishers, garbage bags, fertilizers, cleaning agents, paints, etc.

Operational Responsibility: On-site manager.

n [S3-A-02] Purchased Services

Potential Emission Sources: Cleaning, landscaping, maintenance, security services.

n Operational Responsibility: On-site manager.

l Fuel and Energy-Related Activities (not included in Scope 1 or 2)

n [S3-B-01] Upstream Emissions from Purchased Natural Gas

Including extraction, production, and transportation of natural gas consumed by the company

n [S3-B-02] Upstream Emissions from Purchased Gasoline

Including extraction, production, and transportation of gasoline consumed by the company.

n [S3-B-03] Upstream Emissions from Purchased Diesel

Including extraction, production, and transportation of diesel consumed by the company.

n [S3-B-04] Upstream Emissions from Purchased Electricity

Including extraction, production, and transportation of electricity consumed by the company.

n [S3-B-05] Upstream Emissions from Purchased Heat

Including extraction, production, and transportation of heat consumed by the company.

l Business Travel

n [S3-C-01] Passenger Transport

Potential Emission Sources: Fuel used for business travel by air, rail, road, or sea.
Operational Responsibility: Employees with travel needs.

n [S3-C-02] Accommodation

Potential Emission Sources: Hotel stays during business travel.
Operational Responsibility: Employees with travel needs.

Appendix 1: Calculation Logic and Carbon Emission Factor Collection

Appendix 2: Mapping Between GHG Protocol and ISO 14064:2018

Appendix 3: Onewo. Carbon Management Working Group Members

Review Committee Members:

* Feng Xiangzhao, Research Fellow, China Institute of Industrial Development, Ministry of Industry and Information Technology

* Ou Xunmin, Researcher at Tsinghua University

* Pan Xunzhang, Associate Professor at Renmin University of China

* Zhu Tong, Member of Vanke Service ESG and Climate Change Committee

Project Team Members:

*  Meng Shuo, Institute of Climate Change and Sustainable Development, Tsinghua University

* Wang Jun, Climate Future Technology Co., Ltd.

* Ma Jingyi, Onewo ESG Office

* Wang Weiwei, Onewo ESG Office

* Liu Shuo, Onewo ESG Office

* Wu Zhiyuan, Onewo Data & Information Technology Center

* Zhu Tong, Vanke Service ESG Office

* Peng peng, Vanke Service ESG Office

* Li Xin, Vanke Service ESG Office

Onewo Carbon Inventory Methodology——Disclosure framework based on GHG Protocol Scopes 1, 2, and 3.pdf