Fortune China has issued the latest Top 500 Enterprises, with 62 Guangdong enterprises included. Among them, Ping An Insurance, Evergrande, Vanke, Midea and Tencent rank among the top five in the province.
The annual Top 500 ranking is an assessment of the performance of Chinese listed companies in 2017.
The 500 largest companies generated 39.65 trillion yuan in revenue, up 18.22 percent year-on-year. Net profit rose 24.24 percent to 3.48 trillion yuan.
The annual revenue threshold for being included in the list this year is 13.86 billion yuan (2.09 billion US dollars), an increase of 22.44 percent after the first breakthrough of ten billion yuan last year.
Regarding profitability, the ten most profitable listed companies are China Mobile, Tencent and Alibaba, in addition to several major commercial banks and insurance companies.
These ten companies have created nearly 40 percent of the profit of the Top 500 largest listed companies.
47 companies are newcomers, including iQiyi, an internet service company listed on Nasdaq. Last year, iQiyi realized revenue of more than 17.3 billion yuan, ranking 419th out of the 500 companies.
A total of 55 real estate companies are included in this year's list, ranking first concerning industries, as their revenue saw over 19.6 percent growth.
Five Foshan enterprises rank in the list
Five Foshan enterprises ranked on the list, including Midea Group Shareholding Co Ltd, Country Garden Shareholding Co Ltd, Hisense Kelon Electrical Co Ltd, Lesso Group Shareholding Co Ltd, and Foshan Haitian Flavouring and Food Co Ltd.
These five enterprises has been on the list for many years. Midea Group Shareholding Co Ltd ranks 32nd this year, rising 5 posts compared with last year and ranking highest among all Foshan enterprises on the list. In 2017, the company achieved 241.919 billion yuan in gross revenue with a year-on-year growth of 51.35%; the company achieved 18.61 billion yuan in net profit with a year-on-year growth of 17.33%.
Besides Midea, Country Garden Shareholding Co Ltd and Hisense Kelon Electrical Co Ltd both move up on ranking. Country Garden moves from 42nd last year to 36th this year with gross revenue of 226.9 billion yuan and profit of 26.06 billion yuan in 2017. Hisense Kelon Electrical rises from 235th last year to 221th this year with gross revenue of 33.5 billion yuan and profit of 2 billion yuan in 2017.
Ping An ranks fourth in revenue
Shenzhen-based China Ping An Insurance Group ranked 4th among the top 500 Chinese companies in terms of revenue, according to a 2018 list released by Fortune China on its official website Tuesday.
The other Shenzhen company on the list, Tencent, ranked 7th in profitability according to the report.
The oil and gas company Sinopec Group topped the list with revenue of 2.36 trillion (US$356 billion), and was followed by China National Petroleum Corp. and China State Construction Engineering Corp.
Among the top 10 enterprises, eight enterprises are State-owned enterprises (SOEs) directly under the State-owned Assets Supervision and Administration Commission of the State Council, China’s Cabinet. Ping An Group ranked No. 1 among non-SOEs.
The revenue of the 500 enterprises reached 39.65 trillion yuan, an increase of 18.22 percent over the previous year. The net profit reached 3.48 trillion yuan, an increase of 24 percent over the previous year.
Among the 500, 55 enterprises are engaged in property development.
Regarding profitability, Industrial and Commercial Bank of China topped the list with 286 billion yuan in profit.
Other banks, including Bank of China, Agricultural Bank of China, China Ping An and China Merchants, were ranked in the top 10. Tencent and Alibaba were also among the top 10 in profitability.
(Source: CGTN, Foshan China, Shenzhen Daily)
