This article presents the relationship between “Corporate Social Responsibility” and the probability of financial distress using data from Shenzhen stock exchange from 2010 to 2017. Eventually

we found the better companies’ CSR performance

the lower probability of the financial distress. This relationship strengthens when company’s net profit is negative but weaken when its net profit is positive. The research indicated the exist profit and appropriate percentage of debt are critical to firms’ operation. If firms are in deficit

it cannot survive even making great effort on CSR investment. Therefore

this article suggests managers enhance CSR performance on the premise of maintaining a certain profits.