Recently, Fortune China has released its annual listing of "Fortune China 500" (hereinafter referred to as "the list"). This year, with strong track of record, enterprises from Foshan have continued to step up their game.
(Photo by fortunechina)
A total of 6 companies entered the list in 2021 (same as last year), namely, Country Garden Holdings Co., Ltd., Midea Group Holdings Co., Ltd., Midea Real Estate Holdings Limited, Hisense Home Appliances Group Co., Ltd., China Lesso Group Holdings Limited, and Foshan Haitian Flavouring and Food Co.,Ltd (碧桂园控股有限公司、美的集团控股有限公司、美的置业控股有限公司、海信家电集团股份有限公司、中国联塑集团控股有限公司、佛山市海天调味食品股份有限公司). Among them, Country Garden Holdings and Midea Group entered the top 20.
Overall, the list summed up the yearly performance by some of the most history-making Chinese listed companies. Statistics show that all the Chinese enterprises on the list this year added up to a turnover of 53 trillion yuan (5% up from last year) and a net profit of 4.3 trillion yuan (2% up from last year). Compared to records from last year, there has been a slowdown in growth rate as for the two above-metioned indicators. The basic requirement for entry was close to 17.4 billion yuan, 400 million yuan less than last year.
Headquarter of Country Garden Holdings (Photo by Country Garden Holdings)
Despite the fact that regulatory policies were adjusted for real estate industry, property developers have still taken the most seats on the list, with 56 appearing on the list (11.2%). Out of 6 Foshan enterprises, 2 are real estate companies while the rest was from manufacturing industry.
Headquarter of Midea Group (Photo by Midea Group)
Affected by the pandemic, corporate profits have been facing a downturn, as net margin dropped from 9.4% to 9.0% this year. Among the top 40 list that measures the highest net margin, Foshan Haitian Flavouring and Food Co., Ltd (28.09%) and Midea Group Holdings Co., Ltd entered the list.
Author | Jersey
Revisor | Jessica, Eleanor