The Research On Traditional Manufacturing Enterprises’ Green Transformation Motivation And Performance

In September 2020,in a speech at the United Nations General Assembly,Chairman Xi Jinping said,“China will achieve carbon peak by 2030 and carbon neutrality by 2060 by increasing its national independent contribution”.This means that China plans to achieve the goal of "carbon neutrality" in a time far lower than that of developed countries.In addition,in March 2021,China’s "Fourteenth Five-Year Plan" development plan put forward the concept of green transformation several times under the overall goal of "double carbon",which clearly stated that enterprises should be encouraged to carry out green technological innovation and promote green transformation in important industries and key areas.As one of the heavy pollution industries,the textile industry has the characteristics of high pollution and high energy consumption,and belongs to the industry of key remediation.Green transformation is the inevitable strategic direction of enterprises.Therefore,this paper takes Shenghong Group,a leading enterprise in the textile industry,as an example to conduct a comprehensive analysis of its green transformation behavior,hoping to provide some reference for the green transformation of other traditional manufacturing enterprises.This paper has sorted out relevant documents,combined with institutional theory,stakeholder theory and sustainable development theory,and built a theoretical analysis framework of green transformation.On this basis,it deeply discusses the motivation and path of the green transformation of Shenghong Group,and analyzes the environment,market and financial performance brought by its green transformation behavior.First of all,this paper expounds the historical change of China’s environmental system and the development status of the textile industry,and finds that the environmental protection system is becoming increasingly strict,and the textile industry is also facing severe challenges.Shenghong Group urgently needs to carry out green transformation.Secondly,analyze the internal resources and capabilities of Shenghong Group,and explore the supporting factors for its green transformation from the network level,enterprise level and individual level.Then explore the green transformation path of Shenghong Group from four aspects of strategy,technology,products and management.Finally,it analyzes the environmental performance,market performance and financial performance of the green transformation,and finds that the green transformation can directly reduce the environmental protection costs of enterprises and bring better environmental performance.At the same time,the key events of green transformation can be recognized by the capital market in the short term and improve the market value of enterprises in the long term.In addition,through the vertical comparison before and after the green transformation of Shenghong Group and the horizontal comparison with enterprises in the same industry that have not undergone the green transformation,the conclusion that the green transformation can improve the financial performance of enterprises is drawn.Through the case analysis of the green transformation of Shenghong Group,this paper believes that the green transformation is a necessary mode for enterprises to improve their comprehensive performance and achieve sustainable development.Finally,this paper gives suggestions on the key points and policy formulation of green transformation for enterprises.This paper takes Shenghong Group,a leading enterprise in the textile industry,as an example to study its green transformation behavior,which enriches the case study of enterprise green transformation.In addition,on the basis of financial performance analysis,combined with environmental performance analysis and market performance analysis,this paper comprehensively evaluates the performance of green transformation of enterprises,enriches the methods for studying the performance of green transformation,and provides different ideas for analyzing the performance of green transformation of traditional manufacturing enterprises.