This report analyzes ESG policies，information disclosure，ratings，and ESG development problems in the manufacturing industry based on both theoretical and empirical aspects. It selects a sample of manufacturing companies publicly listed on the A-share market in China’s Shanghai and Shenzhen stock markets from 2009 to 2022 as the research object，supplements the data through interpolation methods，and replaces adjacent values. Finally，14，993 unbalanced panel data research samples are obtained. The research finds that：（1）ESG performance of manufacturing enterprises has a significant promotion effect on corporate financial performance，and this effect is more significant in the eastern region than in the central and western regions；（2）In manufacturing，better social and governance performance can help improve corporate financial performance，while better environmental performance may have a significant negative impact on financial performance；（3）The nature of property rights plays a negative moderating role in the relationship between manufacturing corporate ESG performance and corporate financial performance. State-owned enterprises have weakened the promotion effect of manufacturing enterprises’ ESG performance on corporate financial performance，while non-state-owned enterprises are more able to play a positive role in manufacturing companies’ ESG performance on corporate financial performance；（4）Manufacturing companies’ ESG performance can directly improve corporate financial performance，and can improve corporate financial performance through the intermediary mechanism of improving corporate reputation. This report systematically examines the environmental contribution，social responsibility and corporate governance of the manufacturing industry，and puts forward countermeasures and suggestions for ESG investment in the manufacturing industry，which meets the strategic requirements of the high-quality development of manufacturing companies themselves and the overall economy.