Signify's Shanghai regional headquarters was upgraded to the Asia-Pacific headquarters of a multinational company, comprehensively improving management and innovation capabilities

On July 28, Signify, the global lighting leader, announced that Signify (China) Investment Co., Ltd., the China headquarters located in Minhang District, Shanghai, has been recognized by the Shanghai Municipal Commerce Commission and upgraded to the regional (Asia-Pacific) headquarters of a multinational company. The successful upgrade of Signify's regional headquarters in Shanghai is highly consistent with Shanghai's goal of guiding multinational company headquarters in Shanghai to upgrade their capabilities, expand their functions, deeply integrate into the global industrial chain, value chain, and innovation chain, and enhance Shanghai's status and influence in international economic competition.

"This recognition of the upgrade of the regional headquarters of a multinational company is further recognition of Signify's continued investment and development in Shanghai. Signify has a long-term commitment to the Chinese market, and Shanghai has become our most important strategic market and driving engine in the world. We will closely rely on Shanghai to serve the country and radiate resources and location advantages in the Asia-Pacific region, give full play to its global strength in the fields of innovation and sustainable development, and promote the company's accelerated development in China and the Asia-Pacific region," said Wang Yun, chairman of Signify (China) Investment Co., Ltd. and global senior vice president of Signify.

Signify (formerly Philips Lighting) is The global lighting leader was founded in Eindhoven, Netherlands under the name of Philips, with a brand history of more than 130 years. In 2016, the company became independent from the Royal Philips Group and was listed in Amsterdam in the same year. In 2018, Philips Lighting officially changed its name to Signify and continued to use Philips as its product brand. Currently, the company's business footprint covers more than 70 countries and regions around the world, covering professional lighting, consumer lighting and IoT lighting. China is one of the most important strategic markets for Signify in the world. Philips brand lighting products entered China as early as 1920, and the first joint venture was established in Shanghai in 1985. Currently, Signify has 9 factories in China and the second largest R&D center in the world.

Since its independent listing in 2016, Signify has continued to invest in the Chinese market and completed a number of strategic acquisitions and joint ventures in the professional and consumer lighting fields, including the acquisition of well-known Chinese lighting companies Zhejiang Kaiyao Lighting and Shenzhen Leiming, promoting the company's rapid growth in areas such as smart lighting and urban lighting. It has also established joint ventures with Xiaomi, China's leading Internet company, and Baozun, an e-commerce company, to provide Chinese consumers with better smart lighting products and experiences.

In 2016, Signify (China) Investment Co., Ltd. was recognized as the regional headquarters of a multinational company by the Shanghai Municipal Government and will be upgraded to the Asia-Pacific headquarters in 2022. As one of the world's most important R&D, management and talent bases, the regional headquarters provides functional management and services from finance, R&D, procurement, supply chain, products to human resources, informatization, corporate security, intellectual property, legal compliance and real estate for the company's business operations in China and other countries in the Asia-Pacific region. At the same time, Signify (China) Investment Co., Ltd. has just passed the British Standards Institute’s verification based on the PAS 2060 standard and obtained the 2021 carbon neutral certification, becoming China’s first and The only lighting company to complete a third-party carbon neutral audit.

Signify has always regarded sustainable development as the core of corporate development, and is committed to giving full play to its technical strength and successful experience in the fields of innovation and sustainable development, and working with partners across the value chain to promote China's low-carbon development through low-carbon lighting transformation actions and help achieve the "double carbon" goal. Signify recently released the white paper "Promoting China's "Dual Carbon" Development Path - Practice and Vision of the Lighting Industry" to share Signify's practical experience in achieving its own carbon-neutral operations to promote the transformation and development of low-carbon lighting.

About Signify

Signify (Euronext Amsterdam: LIGHT) is a global lighting leader with business covering professional lighting, consumer lighting, and IoT lighting. We use Philips brand lighting products, Interact intelligent connected lighting systems and data services to deliver business value, improve home life, beautify buildings and public landscapes. In 2021, Signify's annual sales reached 6.9 billion euros and it has approximately 37,000 employees in more than 70 countries and regions around the world. We are committed to unlocking the extraordinary potential of lighting and creating "a bright life, a better world". Signify achieved carbon-neutral operations in 2020. Since its independent listing, it has been selected into the Dow Jones Sustainability Index for five consecutive years and was named an industry leader in 2017, 2018 and 2019.