ESG Practice of Medical Device Companies and its Impact on Corporate Performance: Taking Mindray as an Example

School of Economics and Management, Beijing University of Chemical Technology, Beijing, 100029, China

^* Corresponding author: 2021060133@buct.edu.cn

Abstract

In the context of China’s “dual carbon” goal, the concept of Environment, Social and Governance (ESG) has attracted more and more attention, and enterprises have turned their attention to ESG in the process of thinking about how to transform to a new model of sustainable development. At the same time, with the aging population and the continuous progress of medical technology, the medical device industry shows a trend of rapid development. Researchers found that good ESG practices have a positive impact on enterprise performance. However, most of the studies are empirical studies based on big data samples, while there are few case studies on specific companies. As a leading enterprise in the medical device industry, Mindray has made continuous efforts in green development, social responsibility and corporate governance, and has achieved excellent performance in ESG transparency and ESG performance evaluation. Therefore, this study takes Mindray as the research object, adopts literature research method and case study method to analyze its ESG practice path and its impact on corporate performance. The study found that Mindray Medical’s ESG practices performed well, and its good ESG practices had a positive impact on both its non-financial performance and financial performance, which was conducive to its sustainable and healthy development.