Our commitment to take responsibility and strive to create social harmony are central elements of our culture and we see our companyas part of the community – We take responsibility for all our activities whether they relate to employees or products, the community or social environment. In everything our company does we strive to do the right things for the right reasons.
Our bussiness philosophy is the inspiration behind our approach to corporate responsibility and shape the principles we apply across all our activities. We are determined to embrace diversity and earn a reputation as an ’employer of distinction’ by treating all our employees as individuals, with respect, honesty and fairness.
Sharing the rewards and responsibilities of success and conducting our business with integrity and courtesy are the principles we live by; this approach underpins our environmental policies, our involvement with local communities and our approach to responsible business.
The reason we are passionate is our commitment to establishing a ‘better type of business’, that places responsibility to all stakeholders, and social harmony, at it’s core. The challenge for us today is to prove that a business which sets high standards of behaviour can flourish in the competitive conditions of globalisation. Indeed, we aim to demonstrate that adhering to our principles enables us to outperform companies with more conventional business philosophies.
MicroPort™’s strong research and development capabilities and growing intellectual property portfolio reinforce our brand and will continue to enable MicroPort™ keeps ahead of the constantly evolving technologies in our industry.
Most of our products are developed internally, and we have many new innovative products in varying stages of development. We have created a large intellectual property portfolio, particularly in the minimally invasive interventional device area, and diligently monitor and defend our intellectual property. As of December 2015, through independent R&D and strategic acquisitions, MicroPort™ Group has owned and applied totally 1,537 patents and applications. Among them, there are 618 Chinese patents, 207 U.S. patents and 140 applications for European patents and applications. Furthermore, MicroPort™ Group has a total of 1,218 domestic and oversea trademark applications.
We believe we maintain one of the largest highly skilled teams of research and development engineers in the medical device industry in China. The cornerstone of MicroPort™’s research and development endeavours is a core team of highly experienced engineers, many of whom were trained and held leadership roles at many of the major medical device companies in the world.
Each of our engineers focuses primarily on one product application and is involved in the entire research and development process from product design to testing and regulatory approval. Our engineers also have regular contact with the major hospitals which use our products, providing them with real-time information regarding their needs. This understanding of the entire product development process and customer needs provides a strong, flexible engineering platform which can be used to quickly develop innovative products for a wide range of medical device applications.
We have an independent quality and regulatory affair department and devote significant resources to quality management of our products. Our quality and regulatory affair department monitors every stage of our manufacturing processes and ensures consistent product quality that meets our quality management standards and policies. Our quality and regulatory affair department covers the following:
Our quality and regulatory affair department ensures our product realization process, including research and development, product designs, purchase of raw materials, manufacturing, product releases, product feedbacks and risk management, meet our quality management standards and policies.
Our quality and regulatory affair department inspects our products both during and after the manufacturing process, including raw material inspection, manufacturing process inspection and final products delivery inspection.
Our quality and regulatory affair department conducts various tests of our products throughout the research and development and manufacturing processes, including metal and drug analyses and product fatigue tests.
Our quality and regulatory affair department establishes, maintains and improves our quality management system to ensure that our system is in compliance with applicable regulations and standards.
We have established a quality management system in accordance with the State Food and Drug Administration of the PRC (CFDA) regulations, and have obtained ISO 13485 certificates for the design, development, production and distribution of most of the products we currently offer. These certifications indicate our compliance with the recognized international standards for quality management and facilitate entry of our products into the European Union.
In addition, our quality and regulatory affair department is responsible for ensuring that we are in compliance with applicable regulations, standards and internal policies. Our senior management team is actively involved in setting quality management policies and managing internal and external quality performance.
We have established relationships with many key opinion leaders in the Chinese medical community, including physicians, researchers and hospital administrators. We developed such relationships by utilizing our local sales and marketing team and an established distribution network across the country.
Through our marketing activities, training seminars and joint research and development projects with hospitals, we have established relationships with a number of well-known interventional cardiologists, radiologists and vascular surgeons in China, especially in Tier III and II hospitals where a majority of the interventional cardiovascular and other vascular procedures are performed.
Our sales and marketing teams, along with our network of independent distributors, created an extensive sales coverage within China as well as throughout the World.
Through regular visits with specialists, sponsorship of conferences and physician education programs and other activities, our medical devices are directly marketed to hospitals. Along with our joint research and development projects, we have maintained strong ties with several leading hospitals and physicians around the world, which helps promote our products, raise our profile and enhance our brand recognition.
At MicroPort™ we seek to achieve equality, fairness, justice and respect throughout all our activities. We think compliance to rigorous business procedures and internal standards of discipline is one of the key factors for sustainable development and success. And MicroPort™ requires every employee to comply with our code of ethics, our standards, and the laws and regulations relating to our business and in their daily lives.
Our business is governed at two levels; by our senior management, acting primarily through our executive committee, and by our Directors. Our executive committee serves as the overall leadership team of our company and coordinates, and makes decisions with regard to, day-to-day administrative, operational and managerial matters of our business. Our Directors are responsible for overseeing the overall activities of the executive committee and making significant decisions with respect to our business, such as appointing executive officers, engaging in strategic planning and adopting or revising corporate policies.
MicroPort™ has fully implemented a comprehensive code which clearly delineates the roles and authority of the executive committee, senior management and the Board. Our Directors believe that our structure provides an appropriate system of checks and balances to ensure the highest standards of corporate governance are maintained.
MicroPort™’s people are adhere to ethical business practices and abide by the law, as an essential element of our corporate identity. We do so, not only out of respect for the law and moral duty, but also because it is fundamentally at the very heart of our business philosophy.
Code of Business Conduct and Ethics Policy Summary
It is the policy of MicroPort™ Scientific Corporation to conduct its affairs in accordance with all applicable laws, rules and regulations of the countries in which it does business. This Code of Business Conduct and Ethics applies to the Company’s Employees, Officers and Directors.
- Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
- Full, fair, accurate, timely and understandable disclosure in the reports and documents the Company files with, or submits to, the related stock exchanges and in other public communications made by the Company;
- Compliance with applicable governmental laws, rules and regulations;
- The prompt internal reporting to the appropriate person of violations of this Code; and accountability for adherence to this Code.
MicroPort™ has established standards for behaviour that affects the Company, and employees, officers and directors should pattern their daily performance in compliance with those standards. The Company promotes ethical behaviour and encourages employees to talk to the Compliance Officer and Chief Executive Officer (“Designated Officers”) when in doubt about the best course of action in a particular situation. Non-executive directors are also encouraged to talk to the Designated Officers in such situations. The President or any other person appointed by the Board of Directors shall fulfil the Chief Executive Officer’s duties under this Code when the position of the Chief Executive Officer is vacant.
Additionally, employees should report to appropriate personnel violations of laws, rules, regulations or this Code, as well as complaints, concerns, and information regarding accounting matters (which should include accounting practices, internal accounting controls, or other auditing matters), corporate fraud, or violations of laws committed by the Company or its agents. Employees reporting such violations or complaints good faith will not be subject to discipline or retaliation. Reporting procedures for employees are set forth under “Compliance and Reporting” below.
This Code covers a wide range of business practices and procedures. It does not cover every issue that may arise, but it sets out basic principles to guide employees. Corporate policies and procedures provide details pertinent to many of the provisions of the Code. Our employees are expected to be aware of, and to act in accordance with, both the Code and the Company’s other policies and procedures at all times.
At MicroPort™ we think our people should be afforded every opportunity to ‘grow with the company’. And as our company continues to expand globally, it is our people and their individual differences which are even more crucial to realising our business strategy.
Our individual differences enrich and broaden our collective experience. We believe an awareness of varied social and cultural differences in the age of globalisation, make us all better citizens and employees. Building diversity and inclusion into the way we operate is an essential part of our culture.
We continue to encourage difference among our employees because we know it produces innovative ideas and new insights. And, we will continue to enrich and strengthen the diversity of various functional departments, while supporting various forms of horizontal (lateral) team organization and cross-functional collaboration because it maximises the positive effects of our diversity.
We care deeply about the matters that affect our employees and MicroPort™ is determined to be a workplace where all employees can thrive and grow to their fullest potential. We think it’s important that all of our employees feel valued and respected as equal contributors to our success, and through our shared values. MicroPort™ is creating that environment.