On September 20th, the list of "2024 Guangdong's top 500 enterprises" was released. According to the data, the total revenue of the listed enterprises reached 18.73 trillion yuan, a slight increase of 0.37% compared to last year. Meanwhile, net profit reached 1,173.49 billion yuan, marking a 6.84% year-on-year growth, reversing the decline in net profits seen over the past two years and significantly reducing the number of enterprises reporting losses.
The list shows that among the top 500 enterprises, 36 achieved revenue exceeding 100 billion yuan, collectively generating 11.59 trillion yuan. The average revenue per company stands at 321.95 billion yuan, up 6.75% from last year. Additionally, the number of loss-making enterprises has decreased to 49, down by nine from the previous year, with total losses shrinking to 64.04 billion yuan, a reduction of 46.18%.
In terms of regional distribution, the Pearl River Delta dominates with 469 enterprises, an increase of one from last year. Among these, Guangzhou has 124 enterprises and Shenzhen has 214, together accounting for 67.6% of the total. Wang Fangfang, Dean of the School of Digital Economy at Guangdong University of Finance & Economics, noted that the cities in the Pearl River Delta have established a complementary industrial division of labor and collaboration, making it a "ballast" for Guangdong's economy.
In terms of research and development (R&D) investment, the top 500 enterprises collectively spent 636.53 billion yuan, marking a year-on-year increase of 35.13%. The R&D intensity reached 3.4%, up 0.87 percentage points from last year, with nearly half of the enterprises increasing their R&D spending. This indicates that Guangdong enterprises are placing greater emphasis on innovation and research, thereby enhancing their competitiveness.
Among them, Huawei in Shenzhen leads with a net profit growth rate of 144.5% and ranks first in R&D investment among the top 500 enterprises. BYD also performed well, achieving a net profit growth rate of 77% and ranking fourth in R&D spending. This highlights the strong performance of Shenzhen enterprises in the field of innovation.
Source: Lingnan on the Cloud
