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Outstanding Chinese fiber and textile enterprises in Fortune Global 500 List

2022-08-11 08:13:19 CCFGroup

The Fortune Global 500 list was released on August 3.

 

The total revenue of the 500 companies on the list is as high as $37.8 trillion, which is close to the combined GDP of the United States and China. The entry threshold has risen from $24 billion to $28.6 billion.

 

The total profit of listed companies reaches $3.1 trillion, an increase of 88% year-on-year.

 

A total of 145 companies from China (including Chinese Hong Kong and Taiwan) are on the list, two more than the previous year and higher than the 124 companies from the United States. There are totally 44 new companies on the list, including 14 Chinese companies.

 

Among the Chinese companies on the list, there are 5 companies whose main business includes chemical fiber production, and 1 company whose main business includes textiles. In addition, there are 4 commercial and trade enterprises involved in chemical fiber and textiles.

 

Since chemical fiber and textiles are at the manufacturing end of the industrial chain, they are seldom known to the general public. In order to facilitate understanding of their positions, we have listed the similar popular brands in the table below for comparison.

 

Ranking Fiber and textile-related company Reference object
75 Hengli Group  
77 C&D  
79   FAW Group
81   China Post
106 Xiamen ITG Holding Group  
110   PICC
120 WZ Group  
121   Tencent
160 XMXYG  
165   GE
180 Zhejiang Rongsheng Holding Group  
195   Goldman Sachs
199 handong Weiqiao  
204   Boeing
241 Shenghong Group  
242   Tesla
264 Zhejiang Hengyi  
266   Xiaomi
434 Xinjiang Zhongtai  
436   BYD
441   SF Express

 

It can be seen that the revenue of fiber and textile companies on the list can obviously compete with well-known brands such as FAW, China Post, PICC, Tencent, GE, Goldman Sachs, Boeing, Tesla, Xiaomi and BYD.

 

The companies on the list not only have large revenue, but also are relatively strong in various fields. However, among the top 500 companies, the profitability of Chinese companies still lags behind the average level, and there is even widening gap. The average profit of the 145 Chinese companies is $4.1 billion, while the average of the top 500 is $6.2 billion. Among them, the average profit of 124 US companies is as high as $10.05 billion, which is almost 2.5 times that of Chinese companies on the list. The following table is a comparison of some data between Chinese and US listed companies.

 

Item China US
Return on sales 5.10% 11%
Return on total assets 1.15% 3.21%
Return on equity 9.50% 21.90%
Debt ratio 88% 85%

*Note: the debt ratio in the above table is calculated from the return on assets and the return on total assets

 

Chinese companies are growing in number and size. With the high-quality development of the 14th Five-Year Plan, it is believed that there will be more progress in strengthening in the future.

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