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ACFIC Unveils China Top 500 Private Enterprises 2016

Huawei Technologies Co., Ltd., Suning Commerce Group Co., Ltd. and Shandong Weiqiao Pioneering Group Co., Ltd. led China Top 500 Private Enterprises 2016 with combined operating revenues of 1.07853484 trillion yuan, up 25% over last year, according to the lists unveiled by ACFIC at a press conference in Beijing on August 25.

Huawei, the Chinese multinational networking and telecommunications equipment and services company, and Shandong Weiqiao Pioneering, the non-ferrous metal smelting and mangling company, and Legend Holdings Ltd., the major shareholder in the world’s biggest PC maker Lenovo, were ranked the top three of China Manufacturing Industry Top 500 Private Enterprises 2016. The entry level dropped 3% year-on-year to 4.520 billion yuan of operating revenues.  

Suning, the home appliance giant, Dalian Wanda Group Co., Ltd., a commercial property developer, and CEFC China Energy Co., Ltd., led the tally of China Service Industry Top 100 Private Enterprises 2016. The threshold for this category rose 6 percent year-on-year to 12.437 billion yuan of operating revenues.   

For the first time, the Top 500 China Private Enterprises 2016 have raised their entry bar to over 10 billion yuan of operating revenues, up 7% over last year. 12 of the Top 500 made the World Top 500, five more than last year. The combined revenues of the Top 500 totaled 16.156857 trillion yuan, with 32.314 billion yuan for each on average, up 10.06% year on year.

Their total assets value jumped 25.16% to 17.300487 billion yuan, with the assets of 34 enterprises, or 13 enterprises more than last year, topping 100 billion yuan, and Dalian Wanda led the tally with 903.357 billion yuan.

Their after-tax net profit rose 17.67% year on year to 697.660 billion yuan; sales net profit ratio edged up 0.28 percentage points to 4.32%; total assets turnover rate fell 14.77 percentage points to 100.53%, leading to a decrease of assets net profit ratio from 4.29% to 4.03% and a fall of net asset profit ratio from 14.04% to 13.32%.

Tax contribution by the Top 500 continue to soar, topping 642.058 billion yuan in 2015, up 12.1% over 2014, and accounting for 5.14% of the country’s total. Four enterprises, Huawei, Vanke Holdings Ltd., Dalian Wanda and Evergrande Real Estate Group, paid taxes of over 20 billion yuan each. The number of employees in the Top 500 topped 8.2698 million, with 16,500 in each enterprise on average, up 10.08% year on year. With 196,000 employees, BYD Co., Ltd. stood on top.

The number of tertiary industry enterprises in the Top 500 reached 137 in 2015, continuing the growing trend for the 5th straight year, while the secondary industry contributed 357 enterprises, or 7 less from last year. Assets volume of the listed tertiary industry enterprises surpassed those in the secondary industry for the first time. 58.2% of the Top 500 enterprises came from the manufacturing industry.   

Enterprises in East China continued the dominance in terms of entry numbers, business revenues, assets volume, with Guangdong Province contributing a total of 134 enterprises whose assets volume topped 25%.

Nearly half of the Top 500 enterprises are listed on stock markets with multiple financing channels.

Meanwhile, Top 500 have stepped up their go-global drive, with remarkable increase in overseas revenues. Through either overseas direct investment or contracted projects, 138 Top 500 enterprises made 164.154 billion USD in overseas revenues in 2015, up 35.20% year on year. The export volume of 240 enterprises decreased 23.81% over 2014 to 109.961 billion USD in 2015 due to shrinking global market demand.  

According to the Analysis on China Top 500 Private Enterprises unveiled by ACFIC Economic Department Director Tan Lin at the press conference, the development paths of the Top 500 over the past year was marked by their proactive approach to the New Normal, boost of morale, and fresh endeavors, upgrades and growth, which was highlighted especially by their proactive participation in the Belt and Road construction, Beijing-Tianjin-Hebei coordinated development, and the Yangtze river Economic Belt construction, their aggressive foray and incremental investment into the emerging industries, their steady, prudent and diversified involvement in the mixed ownership reform, their remarkable investment augmentation in Private-Public Partnership projects, sustained lift of their self-initiated innovation ability, acceleration of integrated development of traditional industries and the Internet, and their real progress in law-abiding corporate governance and social responsibility fulfillment.  

Five lingering problems, including soaring labor cost, heavy taxes and charges, financing difficulty, inadequate market demand, and irregular market order, were found as the gravest hindrances to Top 500 growth, in addition to negative public opinion, emission reduction and energy conservancy pressures, insufficient intellectual property rights protection, and insufficient open-up of monopoly sectors.

ACFIC Chairman Wang Qinmin said that Top 500 play a demonstrative and steering role for Chinese private enterprises at large in firming confidence, innovative development, structural upgrade and social responsibility.

 

 

Date:2016-8-25 13:29:36