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Morgan Stanley Capital Internatioπ ★nal (MSCI) has lately upgraded Bosideng's ESG (Environmental,₹₩σ Social and Corporate Governance) rating fromΩ£↑↓ BB to BBB, making the company a leader in ±✔China's textiles and apparel sector.
MSCI is an international compan♣y that specializes in providing glo♦±δ bal indices and related derivativ€φ☆γe financial products, whose indices are☆₩• important benchmarks for global inves$≤tors. The steady rise of Bosiden™€g in ESG rating is a further endorsemen£¥'t of Bosideng's efforts to secure a leading p♦♦♦osition for its brand in the world "♦≈>and a strong affirmation of the long-tβ☆•erm investment value of Bosideng in the ≠↔αcapital market.
All-round efforts in sustainability λΩdrive Bosideng's ESG rat←♥ing upgrade
Since China proposed its carbon peak and neutraγlity goals, enterprises in the count& ÷™ry have been gradually incorporating ESG ratiγ↓₽ng criteria into their development &φ✔strategies and making steady progre→>ss in this regard. Bosideng is no exception. F ≥✔Ωrom 2021 onwards, Bosideng has put ×↑in place an ESG management framework at ★¶the three levels of decision-making, man÷ 'agement, and execution to ens₩§×αure effective implementation of ESG standards™βΩ, pushing the business to meet highα±∏er requirements and achieve sustainable dev€←δelopment across the board.
The ESG rating upgrade of B<λ osideng is attributable to its excell ₹♠>ent performance in product quality imp★÷"'rovement, supply chain&nbλ₩sp;management, employee welfare, and s<¶≈ocial responsibility. As a world lead✔&§ing Chinese down apparel brand, Bosφ★☆ideng has always been proact≈¥δive in exploring an innovative pathway to susta☆∞inable development, with ESG management spr≤™↓₩eading to all aspects of♥✘$ its corporate strategies&n↑β&bsp;and management.
In terms of product quality, Bosideng has bee '&n dedicated to the R&D, innovation,±↕α< and design of down apparel for 4≠÷ 6 years. As of Fiscal Year (FY) 2020/21, t× →♦he company has accumul♠∏φated 231 patents of all sortε€s. As a major drafter of the national♣™™ GB/T 14272 down apparel standards, it ≈∑β♥;has participated in the drafting and♠£☆∏ revision of a number of international&>σ, national and industrial staπ£φ™ndards, taking the lead in the develσ₽★£opment of industry standardization.&nbs±£p;Quality-wise, all of the main te♥×✔chnical indicators of its produc≥•±ts are above national standards. Produc←∏t quality is subject to a three-le↓¥vel inspection to ensure ε★a high level of customer satisfacti✔✘on. Continued efforts are made to promo≈£¥te the use of new environment-friendl•♠y fabrics in a bid&nb♠↔™sp;to effectively reduce environ₩∑mental impact. It is worth noting that the q σ§uality of Bosideng products↔>∑ has been gradually recognized by consu£&←mers and in the industry. In↔" • FY2020/21, Bosideng was t↑γ↕he only textile and apparel brand showcase">∑≈d in the annual China Bran₽↔d Day gala and included in the list of±×↕ brands to be promoted under th→₹e Brand Power Project sponsored by China ♠"Central Television (CCTV) ≤¥. In 2021, it was for the first ti₽π•me ranked among the world' & s 50 most valuable apparel'£>∏ brands of the year by Brand Finance, an authori≥ ←tative global brand valuation consulta✔π©ncy.
Over the course of brand development, Boside&γ"ng has attached great imβ&Ω∞portance to supply chain g ↔overnance, with a focus on→ the safety, sustainability and £®traceability of raw materials. As of FY202γσ↑0/21, 49% of the raw materials purchas★$ed by the company have been certified by bluesig₩ n ®, and 95% of its partner suppliers and of the↕€∑© down used in its products have passed RDS ce £Ωrtification, contributing to the brand's com•♣σpetitive edge.
In terms of employee welfare and trai♥π₽ning, Bosideng offers competitive salary ÷φand benefits and a friendly workplace for©δφ employees. So far, Bosideng has implemented fi₩∏Ωλve employee equity incenti >£♣ve plans to raise employee satisfactioσ♠≠↔n. It also lays emphasis onΩ§≈ employee education and training, personnel st© ructure optimization, and the ™→∏©integration of sustainable development into h∑ ₽uman resources management with a view to≠βδ building a talent pool for₹↑<↕ the company's long-term de↕₹♥velopment.
In terms of corporate social responsibγ→↕εility, Bosideng stays true its mission of ★δ₹Warming the World and constantly gives b$₹ack to society. As of FY2020/21≠₽, the company has donated more tha₹±♠n RMB 1.2 billion (around $189 million) in cas ≈∏h and in kind to communities. It donated 30 ® ♣0 million high-quality down jackets to affλ★αected people around the country at the onset φof COVID-19, and gave RMB 50 million i→α$♦n cash and in-kind donations ♥→to Shanxi Province in 2021÷π to aid the reconstruction of areas ravaged ∞•by torrential rains and floods.
Aiming for lasting growth, Bosideng enhances ≈πESG management to consolidate its γ÷∑βglobal leading position
Growing ESG awareness and heavy pressu₽©re from the national “dual carbon” goals ∏∞have necessitated ESG management for China&≈ #39;s textiles and clothing sector as the sec↕<ond largest polluter only after the oil in↑₽dustry.
Bosideng always attaches importaπnce to the practice of ESG. The ES ↕↓G rating has seen more extensiveα→ and in-depth information disclos↔£<ure by Bosideng, who not only conducted a multifa↓®ceted ESG inquiry, surveying six types of st∏∞≠"akeholders, including government and∑☆✘★ regulatory agencies, shareholders and invσ>estors, employees, suppliers, ¥✔'and partners online and offline, but also further≤•✘ expanded the scope of data $™↓collection and disclosure. It££ has enhanced, in particular, the information disclosure of product quality and supply ch™πβ↓ain management, comprehensively a€φ₩☆nd meticulously showcasing the refined manag&≥ement of the group in all a←ε©spects of its operations. Bosideng alsoδ★ discloses its measures and achie≥φ₹÷vements in environmental prot€ection in accordance with the national “du ♦≤al carbon” policy. Relevant information reveals t hat, aside from active promotio£γn of the use of new environme≥₽§ntally friendly fabrics, it&nbsφ"p;also funded a carbon neutral forestry initi∏$ative in Alxa, Inner Mongolia, demons♠δ§trating the group's active response to ₹★¥the dual-carbon targets and solid contributi∑•<on to their realization.
Bosideng's ESG rating upgrade fully de£πα♣monstrates the strength of the brand in sustaina≠©'≠ble development and is vital for cementin☆₩ g its global leading position.
For one thing, the upgraded ESG rating indica×'tes that the company stays ahead of≥δ≤ the industry in the strength ∑↓>of sustainable development. Over the past 46 ™€ years, adhering to the strategy o≈&<↔f “focusing on the principal businesββs and key brands”, Bosideng con₹"£tinues to enlarge its market share thr→₽ough product innovation. In 2021, it l♠±aunched an innovative down windbreaker-jacke★±t and iteratively upg™≤∏•raded its wholly indigenous Dengfeng 2.0 s$±₽eries featuring the first-ever application π>of aerospace technology to down ∏↕apparel. In December last ye≈☆≤ar, Bosideng staged a drama-sty"☆δle public presentation themed “"∏δChina, a global leader in down apparel”, prese↕¥nting its 45 years of devel↑ ≠opment and showcasing its innovation achie★•&vements in multiple dimensions. Bosideng'φ¥∑↕s continued efforts in lau↔±Ωnching new, innovative products≈↓ and exploring the way to technological empδ×≈owerment make a solid statement of its capabili≈ ty in sustainable development.
For another, ESG rating is not only relevant ×πto corporate development, but also a new yard✔©>stick for the general public to ev≠★aluate businesses. It is generally believed∞ that those with better ESG performan£§∞δce are more capable of resisting×↕©ε risks, which is conducive to lβ✘✘ong-term, sound development and more attracΩ↓tive to investors. Hence Bosideng's ESG ratiλ₩→ng upgrade has consolidated and en∞hanced the confidence of investors.
Sustainable corporate development callδσs for long-term exploration to fiγ↕≤nd a suitable approach. Amid ¶€ the emerging trend of ESG, Bosideng maintain≥←&&s stable performance. In August 2021, it was←∑±∏ ranked 1st in the world in down jacke₽™±★t sales by Euromonitor International. Its FY202♥Ω1/22 interim report shows renewed growth i ♦≥n revenue and profit. The elevate±•→d ESG rating represent∑→↔≥s the highest level achieved by a player froσ↑•₩m China's textiles and apparel industryλ₹↔, setting a good example for industry pπ"eers. In the future, hopefully more textiles a↑<λ<nd clothing manufacturers "™will join in the ESG development to push for the§φ≤ realization of the “dual carbon”goals.
