"Three Chinese Medicine Giants" strengthen the social responsibility report of Tongrentang in the supply chain management Tongrentang, still to be upgraded

ESG (environment, society, corporate governance) on the development path of traditional Chinese medicine companies: It can run further; if you don't care, you may lose trust.

Why is Chinese medicine companies' investment affected by ESG? How many companies have begun to disclose ESG information this year?

According to the data of Zhongcai Green Gold Institute, as of June 6, 90 A -share companies in the pharmaceutical manufacturing industry issued an ESG report.按所属申万行业划分，其中25家为中药企业，“中药三巨头”片仔癀（SH600436，股价342.29元，市值2065.09亿元）、云南白药（SZ000538，股价58.14元，市值1044.45亿元）和同仁堂（ SH600085, the stock price is 52.75 yuan, and the market value of 72.345 billion yuan) is also listed.

However, several companies have not strictly divided the boundaries between ESG reports and social responsibility reports. For example, the names of the relevant reports of Pianzi and Yunnan Baiyao are "annual social responsibility report and ESG report". The former said that the company has released 15 ESG reports. However, the reporter found that the previous 14 report names were all social responsibility reports. In addition, Tongrentang still requires a report on the previous format to compile annual social responsibility reports (referred to as social responsibility reports).

ESG affects the investment head enterprises of Chinese medicine companies embark on the road of innovation

The way of Chinese medicine is taken in nature, so that the ESG problem that Chinese medicine companies are solved are more than other pharmaceutical manufacturing industries.

Taking Yunnan Baiyao as an example, some international investors believe that the company's body part of the global endangered species of the global pangolin may promote illegal wildlife trade and increase the risk of the extinction of these species. A typical example of changes in investment behavior.

With the development of green development and ESG investment concepts in the capital market, Chinese medicine companies have relaxed their vision and involved new areas.

For example, Pianzi ESG report shows that the company's products cover six major categories including drugs, export products, cosmetics, daily chemicals, health foods, and medical devices. In 2021, the company was developing a total of 12 new drugs. Among them, the treatment of fibromyalized drugs 1 new drug PZH2107 obtained clinical permits; the first 4 -type drug Ah Shaban was approved for listing. In March 2021, clearing the lung detoxification particles obtained a 3.2 -type drug registration certificate, and Pianzi Pharmaceuticals was a trustee production enterprise. A total of 3 chemicals 1 new drugs, 2 Chinese medicine 1.1 new drugs, and 1 new medicine 1.2 new medicines in the clinical research stage.

In addition, Yunnan Baiyao has continued to accelerate the transformation and upgrade process, and has achieved new breakthroughs on oral care, dermatology, orthopedics, and female care. Provide a transformation of comprehensive solutions for large health services. As of the end of 2021, the company's Painful Capsule became a key new product in the country. It was approved by the US Food and Drug Administration (FDA) and was approved to conduct phase II clinical trials in the United States.

The Tongrentang (excluding Tongrentang Commercial, Tongrentang Technology, and Tongrentang Chinese Medicine) intends to tap and explore the new technology of traditional Chinese medicine, improve the automation level of Chinese medicine production, and implement a large variety strategy.

The Tongrentang Social Responsibility Report shows that the company completed the pilot of intelligent data collection of some Chinese herbal medicine resource surveys and planting bases in 2021; launched 14 varieties such as Tongren Niuhuang Qingxin Pills and Moroda Halberd Capsules; In the end, it continued to study the clinical effectiveness and safety of hyperuricemia for the treatment of hyperuricemia in Tongren Wuji Baifeng Pill, and expanded its efficacy research from the treatment of hyperuricemia to the treatment of gout.

Each family mentioned the supply chain management Yunnan Baiyao ESG characteristics stronger

As an important component of the core competitiveness of Chinese medicine companies, the positioning of supply chain management on ESG is not completely consistent.

In the ESG report, the supply chain management belongs to the content of "Practicing Responsible Purchase" and can improve the quality of the product; Yunnan Baiyao emphasizes the sustainable supply chain, and it will be "source management, protecting endangered wildlife" and "helping the circular economy. "Pedestrians; in the social responsibility report of Tongrentang, the supply chain management and information management, internal control management, etc. are tied, and the management means stronger.

Among them, Yunnan Baiyao has a stronger ESG characteristics on the sustainable supply chain, that is, the quality and safety control of the raw materials of the upstream medicinal materials on the source, and the establishment of information, data, quality monitoring and control of traditional Chinese medicine, from supply, production to production to production to production Packaging to achieve the sustainable model of the entire process, lead the green and sustainable development of the industrial chain with its own actions, and ensure the dual realization of the industrial economic value and environmental value.

In the practice of farmers management, Yunnan Baiyao adopts the model of "company+base+farmers". After the production of the medicinal materials, the company gives guarantee recovery to solve sales problems, resist market risks, and realize the direct connection between farms and factories; The quality management system of its own implementation of "six unification" management cooperation, and carry out farmers' assistance training.

In addition, based on the thinking of "Chinese medicinal materials+Internet", Yunnan Baiyao set up the "Cloud Pharmaceutical Traceability Platform" to conduct information, quality testing, high -quality species and expert technical services on Chinese medicinal materials, and build a digital chain that can trace the sources of Chinese medicinal materials.

The space of Pianzi and Tongrentang has a small space for the construction of sustainable supply chain. The focus of supply chain management is to enter the supplier's access and assessment, communication and guidance, and integrity supply chain. Judging from the green data disclosed by the three companies, Tongrentang disclosed less and did not list, and the intuition was slightly worse. The report of Pianzi and Yunnan Baiyao ESG mainly focused on the use of packaging materials, resource management and waste management.

Among them, there are 5 related forms in the Yunnan Baiyao ESG report, which are the use of the company's packaging materials, the discharge of waste gas, the discharge of wastewater, the discharge of general waste, and the discharge of hazardous waste.

The Pianzi ESG report adopts the form of drawing, text, and numbers to disclose more data. For example, in addition to conventional data such as resource use and waste discharge, the report also includes details such as "carrying nearly 150 people in online and offline hazardous waste training, once emergency drills of waste organic solvents leaks".

However, different enterprises selected different indicators, units, and statistics to reduce the horizontal and vertical comparability of relevant data.

Related reports are divided into clarifying Tongrentang's unprepared topic

Compared with the ESG report of hundreds of pages of innovative pharmaceutical companies, the ESG report of the Chinese medicine company giant is much thinner. Among them, the ESG report or social liability report in 2021 was 47 and 38 pages, respectively, respectively, which did not change significantly compared with the 2020 social responsibility report. Yunnan Baiyao's 2021 ESG report had a total of 53 pages, 10 pages more than the previous year.

Although the three Chinese medicine companies' preparation of ESG reports is still in the exploration stage, the experience of preparation of social responsibility reports is more than 10 years, and the company's division of the two is not clear. For example, Pianzi said that the ESG report in 2021 was the 15th environment, social and governance report released by the company, but the reporter found that the previous 14 report names were social responsibility reports.

From the perspective of expression effects, the ESG report has been targeted in the analysis of important issues, and the disclosure of related data is more detailed. However, due to the annual reports that are based on text, investors also need to cultivate new reading habits.

At present, Tongrentang is the only company that has not released ESG reports in the three giants. Its social responsibility reports include the company's strategies and practices of the company's four aspects: the company's work environment, operation management, social public welfare and environmental protection.

On June 23, the reporter of "Daily Economic News" called the Tongrentang Securities Department as an investor. The wiring person said that the content of the company's annual social responsibility report was ESG content.

The source said that the ESG report is not forced to disclose, and the fixed format has not yet been formed. Many companies will cooperate with third -party ESG reports. Tongrentang's social responsibility report is still independent.

According to the Tongrentang report, the company's sustainable development of related businesses and affairs shall be handled by the board leaders and authorized. Several rights are entrusted by the board of directors to management, the management formulates and implements the company's strategies and operating plans in sustainable development.

The governance system of ESG transactions is not exactly the same. Among them, the ESG report was confirmed by the management of the board and was approved by the board of directors; the Yunnan Baiyao ESG report was organized by the company's social responsibility management team, and was reviewed and approved by the company's board of directors and the board of supervisors.

In terms of major issues, Pianzi and Yunnan Baiyao adopted the importance assessment matrix to refine 12 and 13 highly important issues respectively; Tongrentang only mentioned "major sustainable development issues such as product quality, safety and environmental protection, poverty alleviation donations" in the text. It was not detailed.

In terms of preparation standards, Pianzi and Yunnan Baiyao showed consistency, that is, follow the relevant guidelines of the exchanges, and refer to the "Sustainable Development Report Standards" of Guan's Global Sustainable Development Standard Committee (GSSB) GRI, and the Chinese Academy of Social Sciences " Report standards for the ESG reports of the Chinese Enterprise Social Responsibility Report Constellation (CASS-CSR4.0) and other reports.

In the future, with the industry's call for unified ESG disclosure standards, the ESG report's requirements for the substantial content of the content will be higher.

"The information disclosure of (listed company) includes the annual report and ESG reports that cannot be used as a propaganda, that is, the real situation of seeking truth from facts." Said the above -mentioned Tongrentang.

On June 24th, the reporter of "Daily Economic News" sent an interview email to Pianzai, Yunnan Baiyao, and Tongrentang, and did not receive a reply as of press time.

Daily Economic News

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