“…Therefore, the listed companies were divided into 2 groups. The companies in the energy-intensive industries (denoted as EI) are comprised of energy, steel, metal, paper materials, petrochemicals, chemicals, mining, transportation, and logistics [4,10,65], while the non-energy-intensive industries (denoted as NEI) were all companies in the other industries. An Independent sample t-test was used to compare energy conservation levels between companies in the energy-intensive and non-energy-intensive industries in Hypothesis 1.…”