VeSync Modern Slavery and Human Trafficking Statement

Foreword: this statement is VESYNC (UK) LIMITED’s (“Vesync UK”) statement (the “Statement”) pursuant to Modern Slavery Act 2015, for the financial year ending on December 31st 2023.

VeSync UK insists on a “zero tolerance policy” towards modern slavery or child labour. It is widely acknowledged that identifying and mitigating the risks associated with modern slavery and child labour in international companies call for routine inspection and self-screening. As a result, we are in the process of reviewing our policies, procedures, and systems in order to improve our safeguards against all forms of modern slavery and human trafficking within our supply chain.

  1. Organisation structure and supply chains

Vesync UK is a limited liability company registered in the UK. Its ultimate parent company is Vesync Co., Ltd (incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange), which is also the parent company for Vesync group of companies (the“Vesync Group” or “We”).

VeSync Group has engaged in the distribution and sale of various home-appliance products globally. Our products are sold under the Levoit, Cosori and Etekcity brands. The goods are sold through distributors and through online and retail channels. The home-appliance and kitchen-appliance products distributed and sold by the Vesync Group include air purifiers, humidifiers, air filters, as well as air fryers, toaster ovens, and dehydrators. Further information about our Group Company and the products we sell are available on our webpage: https://www.vesync.com/ 

We source and procure much of our products from a limited number of suppliers that we believe we can engage with ethically and with transparency. Our supply chain is primarily composed of suppliers that manufacture the products  for the Vesync Group. Almost all our suppliers are located in Singapore and China, and we believe that almost all of the products purchased from our suppliers contain parts or components made in China.

  1. Policies in relation to slavery and human trafficking

We believe in the importance of ensuring that both us and our suppliers take steps to prevent modern slavery, human trafficking, and child labour. The departments in Vesync Group in charge of supply chain management and sourcing are responsible for evaluating our suppliers and determining whether they are meeting our expectations .

We are aware that there can always be improvements and additional safeguards that can be implemented in order to better our transparency and efficacy in combating forced and child labour. We are currently evaluating our systems and processes in order to determine what we can do to improve or add to our policies for 2024 and beyond.

  1. Due diligence processes

During Q3 of the 2023, Vesync Group has drafted and implemented a Supplier Code of Conduct with clear and understandable local languages that our suppliers fully comprehend and meet our expectations in doing business, especially in relation to anti-slavery and human tracking. We expect and require all of our suppliers to comply with the Code.

The Supplier Code of Conduct specifically requires that suppliers do not accept, use, or benefit from slavery, human tracking or child labour of any kind, and also requires that no individual under the age of 18 is employed by any supplier. Any unlawful or prohibited conduct is not tolerated or condoned and may result in actions including the termination of the business relationship.

For our own employees, we conduct standard pre-employment background checks to verify their age and negotiate employment terms on a voluntary basis so that no possibility of forced or child labour can exist in our internal workforce.

  1. Risk assessment and management

Vesync Group has initiated an internal assessment of the risk of forced and child labour in our supply chains, so that we can get a better picture of the risks associated with a manufacturing base in China, in relation to the risks. At this time, we do not have reason to believe that our products are at risk for of modern slavery, human trafficking, and child labour in the supply chain, but we intend to further evaluate and analyze the risks with even greater scrutiny starting in 2024.

  1. Key performance indicators to measure effectiveness of steps being taken

We conduct evaluations and internal audits of our policies as necessary in order to ensure compliance with both new regulations and regulations that have already been in place. As we continue to develop our program to prevent slavery and human tracking , we will consider and evaluate measures on how to best assess the effectiveness of our processes and procedures.

  1. Training on modern slavery and trafficking

All employees will undergo training on the company policies and practices when they are hired. We are currently in the process of developing a training module that pairs together with the Supplier Code of Conduct for procurement personnel for 2024 and beyond. Specifically, we intend to train our procurement personnel to ensure they remain vigilant and responsive on potential violations of the Code.