Ningbo Horizon Magnetic Technologies Co. LTD. (Horizon Magnetics) has established a company Code of Ethics, which provides the standards and guidelines for compliance with all laws, regulations and social norms, to be followed by all Horizon Magnetics members in the conduct of the Horizon Magnetics business.
Violations of this Code of Ethics may result in a disciplinary action in accordance with applicable laws and regulations, and/or applicable internal company rules, depending upon the particular circumstances involved.
1. Values and Mission
Horizon Magnetics has its own values and mission which is recognized as the fundamental spirit of Horizon Magnetics, and Horizon Magnetics members should act in accordance with it.
Values
● Responsibility
Horizon Magnetics holds its responsibility towards its future and society and encourage its business partners to adopt a similar standard of ethical behavior.
● Innovation
Horizon Magnetics seeks inspiration daily, aim at constant innovation and develop a culture of knowledge, research and further training.
● Fairness
Horizon Magnetics views mutual fairness as a condition of its company success.
Mission
Horizon Magnetics takes advantage of its magnets and magnetic solutions to assist you in your increased projects related to magnets.
In the process of conducting the Horizon Magnetics business, Horizon Magnetics members are expected to follow the values and mission. Horizon Magnetics members are also expected to actively increase an awareness of, and facilitate common understanding of, the importance and meaning of the Horizon Magnetics Code of Ethics.
2. Business Activities
2.1 Supply of Excellent Magnets and Magnetic Solutions
Excellent magnets and magnetic solutions are the essence of Horizon Magnetics. In order to assure their excellence, Horizon Magnetics shall make efforts to reinforce and improve its research & development, manufacturing and engineering technologies actitivies. It should be noted that excellent magnets and magnetic solutions entail that they are high in quality, safe, non-harmful to human health and other properties. Horizon Magnetics has committed itself to magnets and magnetic solutions excellence.
2.1.1 Good comprehension of customer needs
Horizon Magnetics members shall always pay close attention to the market evolution and be sensitive to the customer needs. Horizon Magnetics members should make efforts to actively gather timely and accurate information on the customer needs
2.1.2 Quality control
It is imperative to constantly check quality of all Horizon Magnetics magnets and magnetic solutions at each and every stage of research, design, manufacture and sales in order to avoid quality problems and accidents arising out of defective products. When Horizon Magnetics product is found to be defective, unless the cause of such defect is investigated and the problem is completely eliminated, the same and similar accidents are likely to recur. Therefore, for the purpose of preventing the same or similar accidents from happening, Horizon Magnetics has established an internal system, by which information and records regarding any and all defective products are properly maintained and exchanged within relevant departments of Horizon Magnetics.
2.2 Maintenance of Sound and Good Relationship with Customers and Suppliers
Giving and accepting improper personal benefit through business transactions must be strictly avoided. Horizon Magnetics members are required to exercise good judgement and take sensible actions to avoid misinterpretation and any negative effect on the reputation of Horizon Magnetics or other Horizon Magnetics members.
2.2.1 Customer relations
Entertainment and gifts shall be moderate, of reasonable value and within the socially acceptable norms. Horizon Magnetics members are strictly prohibited from giving customers rebates, commissions and other forms of compensation that would personally benefit the customer or that are made discretionarily.
2.2.2 Supplier relations
Suppliers shall be selected based upon rational criteria, such as pricing, quality and delivery of goods. Horizon Magnetics members may be entertained by or receive gifts from suppliers, as long as they are consistent with customary business practices and of reasonable value. When a Horizon Magnetics member receives a gift or certain entertainment that is apparently excessive or not consistent with customary business practices, he or she must reject to accept or, if he or she has accepted it, return it in a timely manner.
2.3 Maintenance and Promotion of Fair and Free Competitions
In general, the purpose of antitrust laws or similar competition laws in many countries is to encourage free competitions or trade and to protect consumer interests. Horizon Magnetics members must exercise special care to ensure that any business activity with representatives of other companies is not contrary to such antitrust laws or similar anti-competition laws of other countries, where applicable.
2.4 Protection of Intellectual Property Rights
Intellectual property rights are the rights given to creations and inventions made from intellectual activities and to commercially-cultivated good-will. Examples of intellectual property rights include patents, industrial design, trademarks, copyrights, business know-how and other trade secrets on technology or marketing. For industrial companies, intellectual property rights are the source of income and profits, and thus, intellectual property rights deserve vigorous protection on the world-wide level. Horizon Magnetics members must facilitate creativity of others and protection of existing intellectual property rights of Horizon Magnetics, and must also be careful not to infringe upon the intellectual property rights of the others.
2.4.1 Trade secrets of Horizon Magnetics
Improper disclosure of trade secrets belonging to Horizon Magnetics could damage the interest and repute of Horizon Magnetics. Trade secrets may be transmitted and communicated by means of electronic medium, product medium, oral communication or written form. Horizon Magnetics members shall handle the trade secrets of Horizon Magnetics in accordance with internal company rules concerning trade secrets.
2.4.2 Intellectual property rights of third parties
Horizon Magnetics respects intellectual property rights of third parties. Horizon Magnetics members are expected to act and behave in a lawful manner and avoid potential civil or criminal liabilities arising out of use of unlawfully obtained trade secrets of others under applicable laws.
2.5 Confidentiality
Nonpublic information regarding Horizon Magnetics or its business, employees, customers and suppliers is confidential. Horizon Magnetics members are trusted with confidential information and are expected only to use such confidential information for the intended business purpose of Horizon Magnetics. Horizon Magnetics members shall not share confidential information with anyone outside of Horizon Magnetics, including family and friends, or with other Horizon Magnetics members who do not need the information to carry out their duties. Each Horizon Magnetics member may be required to sign a specific confidentiality agreement in the course of his or her employment at Horizon Magnetics. Horizon Magnetics member's obligation to keep all information confidential shall continue even if his or her employment with Horizon Magnetics ends.
2.6 Fair Dealing
Each Horizon Magnetics member shall undertake to deal fairly with Horizon Magnetics's customers, suppliers, competitors and employees. Additionally, no Horizon Magnetics member should take advantage of another through manipulation, concealment, abuse or privileged information, misrepresentation of material facts or any other unfair business practices.
At or prior to their hiring date, Horizon Magnetics members must disclose the existence of any employment agreement, non-compete or non-solicitation agreement, confidentiality agreement or similar agreement with a former employer that in any way restricts or prohibits their performance of any duties or responsibilities of their positions with Horizon Magnetics. Copies of such agreement should be provided to an appropriate supervising personnel of Horizon Magnetics to evaluate the agreement in light of the employee's position. In no event shall any of Horizon Magnetics members use any trade secrets, proprietary information or other similar property acquired in the course of his or her employment with another employer, in the performance of his or her duties for or on behalf of Horizon Magnetics.
3. Horizon Magnetics and Employees
3.1 Respect for Each Employee's Personality and Individuality
Horizon Magnetics respects each employee's personality and individuality, and continues to improve its human resources systems and work conditions to assure fairness and reasonableness to all employees. Horizon Magnetics evaluates its employees in a fair and objective manner based on their performance.
3.2 Respect for Privacy
Horizon Magnetics respects each of its employee's privacy and properly manages the personal information of the employees with utmost care.
3.3 Respect for Human Rights
Horizon Magnetics respects the human rights of its employees and will not illegally or unjustly discriminate among its employees in respect of employment, compensation, opportunities to participate in training sessions, promotion opportunities or any other similar matters based on race, belief, gender, religion, nationality, age, marital status, disability or sexual orientation. Horizon Magnetics will not tolerate any conduct that is insulting or degrading to others, including corporal punishment, psychological or physical abuse, violent or lewd language or sexual harassment.
Under no circumstances shall any member of Horizon Magnetics make use of forced labour or employ child labour in violation of any applicable law, rule, regulation, order or restriction of any country or region in which a member of Horizon Magnetics conducts business.
3.4 Working Conditions
Horizon Magnetics members shall operate in full compliance with all applicable laws, rules and regulations prescribing minimum wage, working hours and other working conditions.
3.5 Maintenance of Safe, Healthy and Comfortable Work Environment
Horizon Magnetics considers ensuring safe, healthy and comfortable work environment as its first priority and to that end, Horizon Magnetics abides by all relevant and applicable laws and regulations, enhances internal safety control and prepares safety manuals for the employees.
3.5.1 Eradication of labour accidents
Maintaining safety and health of employees is one of the essential parts of business operation. In order to prevent any labour related accidents, Horizon Magnetics strictly complies with all applicable and relevant laws and regulations, and also with internal company rules and regulations concerning safety of work place established and adopted by Horizon Magnetics. It is also important to regularly hold safety trainings by which employees are systematically trained to detect potential problems and eliminate such potential problems prior to the happening of accidents.
3.5.2 Environmental protection and disaster prevention
It is a social responsibility of any company to comply with applicable environmental laws. Horizon Magnetics makes use of internal company policies concerning environmental protection in order to assure that environment of the community where Horizon Magnetics conducts its business will be properly protected. Each Horizon Magnetics member is expected to fully understand and use internal company manuals to prevent disastrous events or accidents that may be fatal to the interest or repute of Horizon Magnetics and to minimize and control the damage once such serious event occurs.
4. Horizon Magnetics and Society
4.1 Compliance with Applicable Laws and Regulations
Horizon Magnetics abides by the applicable laws, regulations and rules of society in the course of conducting its business. Horizon Magnetics members should be fully aware of the importance and meaning of the applicable laws and regulations and must act lawfully under any circumstances. Horizon Magnetics pays special attention to certain laws, compliance of which is highly demanded by the society.
4.2 Protection of the Global Environment
Horizon Magnetics recognizes that one of its important social reponsibitlies is to contribute to protecting the global environmental conditions through its business activities. Horizon Magnetics, therefore, abides by the all applicable environmental laws and regulations, and makes its best efforts to assure that its business, magnets or magnetic solutions will not adversely affect the global environment in any way. Horizon Magnetics continues its efforts in energy-saving, waste-reduction, efficient recycling and development of environment-friendly technologies and products.
4.3 Minimizing the Use of Conflict Minerals
Horizon Magnetics is committed to minimizing the use of conflict minerals that finance or benefit armed groups. In certain countries, the extraction of conflict minerals has financed armed groups engaged in civil war, resulting in serious social and environmental abuses. The "conflict minerals" is defined as cassiterite, columbite-tantalite, gold, wolframite, or their derivatives (specifically, tin, tantalum, and tungsten), or any other minerals or their derivatives to be financing conflict in the Democratic Republic of the Congo or adjoining countries(Angola, Burundi, Central African Republic, Republic of the Congo, Rwanda, South Sudan, Tanzania, Uganda, Zambia.)
4.4 Contribution to Society and the Community
Horizon Magnetics maintains close and harmonious relationships with the communities where Horizon Magnetics is located. Horizon Magnetics always seeks to be "a good company citizen" through such contributions to the communities as providing volunteer activities and assistance in sports, medical and education areas.
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