Social Responsibility: "Non Mainstream" Report?

In the mature foreign capital market, the corporate social responsibility report of listed companies has become an important basis for attracting medium and long term value investment and closely tied up the competitive advantage of enterprises.

Of course, its report also has a more scientific and rigorous evaluation system and system. Considering the company commercial value Foreign listed companies gradually incorporated CSR reports into the company's strategic system. Goldman Sachs Group has estimated that the stock valuation of enterprises doing well in environment, social governance and corporate governance will increase by 20%.

2011 China Textile and garment industry social responsibility annual meeting to disclose data: in 1~6 months this year, textile and garment enterprises issued 44 social responsibility reports, including 500 industries and listed companies accounted for 60%.

It is understood that the social responsibility report of the listed textile enterprises is mainly carried out through the two systems: first, the outline of China's textile and clothing social responsibility report issued by the China Textile Industry Association; the first is the relevant guidelines issued by the Shanghai and Shenzhen stock exchanges. The listed textile enterprises, which are mandatory by the stock exchange, execute the latter instead of the mandatory listed textile enterprises.

The reporter interviewed the listed textile enterprises that have reported social responsibility reports. Many textile and garment enterprises regard CSR reports as public company's information disclosure responsibility and pure public welfare behavior, and have no research and Consideration on commercial value. This has also been confirmed by the broker. "At present, the social responsibility report has no effect on the company's stock valuation and the attractiveness of the investment."

The content is not thick enough to fully demonstrate.

Since the end of 2008, the Shanghai stock exchange requires Sample Firms to issue CSR reports at the same time when the annual report is disclosed. Sample Firms's listed textile companies include: Yantai Wanhua, Youngor Jiangnan high fiber, Fujian Nanfang, Rebecca, Nanjing chemical fiber and black peony.

In addition to the important duty of the listed textile enterprises to operate the return shareholders, sample management enterprises are absolute benchmarks, and the economic responsibility of their value creation is also reflected in the company's profits. Environmental protection and technological management innovation are another important part of the social responsibility report of the listed textile enterprises. For example, the latest report on social responsibility of Nanfang Fujian announced that the company invested 2 million 300 thousand yuan to carry out the advanced sewage treatment and transformation project, and the environmental protection work has invested 6 million 946 thousand and 800 yuan for the whole year. In addition, on the improvement of consumption, the annual comprehensive energy consumption of 10000 yuan output value dropped from 0.35 tons of standard coal in the previous year to 0.33 tons of standard coal, down 5.71% from the same period last year, and the energy consumption of 10000 yuan output value decreased by 41.07% during the "11th Five-Year" period.

However, not all listed textile enterprises that publish social responsibility reports can provide detailed input and output data.

"The company releases the CSR Report on the basis of the guidelines of the Shanghai Stock Exchange annually. There are also some guidance points in the company. The clean energy and low carbon economy were emphasized respectively the year before last and last year." The staff of YOUNGOR Securities Department said that the specific rules and contents of the annual social responsibility report and the degree of quantification were controlled by the company itself, generally by the departments at the end of each year. The company was responsible for issuing reports, and the assessment and appraisal work was completed by the Shanghai Stock Exchange.

Warp and weft Textile machinery It is not a listed company that requires the stock exchange to issue a social responsibility report. This year, it submitted a social responsibility report in accordance with the requirements of the China Textile Industry Association. "The company's social responsibility report is more focused on showing the responsibility and role of the company as a spinning machine in the process of restructuring and upgrading the industry," said the head of the office of the Jingwei Textile machinery office. The China Textile Industry Association will carry out professional training for the company to make reports on social responsibility reports every year, and invite third party organizations to conduct appraisal and appraisal so as to make the corporate social responsibility report more professional and credible.

According to the latest social responsibility report published, the CSR reporting framework is basically the same. Under the company background, it mainly focuses on management technology, operation mode innovation, employee welfare, social donation, shareholder return, profit contribution and green environmental protection. Different companies discuss different focuses.

At the present stage, almost all listed enterprises report no negative information. The preface mostly focuses on the company's strengths and various honors. The contents of each branch also highlight the positive achievements and contributions of the company. Deficiencies, defects and failure of investment are not mentioned in the report.

The content of social responsibility report has been regarded as not thick enough and full of details. According to the standard of run Ling global MCT, some of the listed textile enterprises still have problems of missing content. YOUNGOR's social responsibility report in 2009 has made necessary statements and responses because of its failure to make stakeholder responsibilities, and only got 15.40 points in the MCT social responsibility report evaluation system (the score of the evaluation system is 100).

Commercial value of public interest temporary pressure

"Can it be bad for enterprises to publish their own social responsibility reports?" an analyst at the textile and apparel industry of a brokerage firm said that the current flashy social responsibility report is more like the annual publicity material attached to the annual report, which has no effect on the company's stock valuation and investment attractiveness.

In the mature foreign capital market, the corporate social responsibility report of listed companies has become an important basis for attracting medium and long term value investment and closely tied up the competitive advantage of enterprises. Of course, its report also has a more scientific and rigorous evaluation system and system. Considering the impact on the company's business value, foreign listed companies gradually incorporate CSR reports into the company's strategic system. Goldman Sachs Group has estimated that the stock valuation of enterprises doing well in environment, social governance and corporate governance will increase by 20%. {page_break}

The reporter further confirmed in the three analysts of the textile and apparel industry, such as the state securities company, that at present, the study of A shares will not incorporate the social responsibility report into the rating standard, or take the company's performance and profit pattern as the main basis for judging the company's value.

Basically, the listed textile enterprises regard the social responsibility report as a necessary task and public welfare act without considering its commercial value. "The main thrust of our social responsibility report is to meet the requirements of the Shanghai Stock Exchange. On the one hand, we should understand the company's channels and increase communication for the society and shareholders." YOUNGOR Securities Department staff said.

The responsible person of Jingwei Textile machinery office said that the social responsibility report, which involves the development and growth of the enterprise itself, not only fulfilling the obligations of the public company, but also has a certain significance in shaping and maintaining the brand image of the company.

Fujian Nanfang Securities Department staff said: "we have never studied the commercial value of CSR." Although domestic listed textile enterprises do not know enough about the commercial value of CSR reports, the social responsibility disclosure of listed textile enterprises is moving from edge to mainstream from the change of the number of enterprises released annually.