Chinese chemical fiber enterprises in the list of 2021 "Fortune" Top 500

On July 20, 2021, Fortune Plus APP released the 2021 "Fortune" China Top 500 rankings, covering the performance and achievements of the world's largest Chinese listed companies in the past year. The total operating income of the 500 listed Chinese companies on the list reached 53 trillion yuan in 2020, an increase of 5% over last year; net profit reached 4.3 trillion yuan, an increase of about 2% over last year. Compared with the previous year's list, the revenue and net profit growth of the companies on the list have both dropped significantly this year.

Eight chemical fiber companies, namely Hengli Petrochemical, Rongsheng Petrochemical, Hengyi Petrochemical, Zhongtai Chemical, Tongkun Group, Xinfengming Group, Eastern Shenghong, and Sanyou Chemical, are shortlisted in the 2021 Fortune China 500 list.The total operating income of these 8 chemical fiber enterprises reached 553.639 billion yuan in 2020, a year-on-year increase of 16%; the net profit reached 28.471 billion yuan, a year-on-year increase of 28%. Among them, Hengli Petrochemical's operating income exceeded 150 billion yuan, and its net profit exceeded 13 billion yuan, ranking 76th on the list, an increase of 23 places from last year; Rongsheng Petrochemical's operating income exceeded 100 billion yuan, ranking 101st on the list, up by by 24 places compared with last year; Hengyi Petrochemical, Zhongtai Chemical, and Xinfengming Group all achieved growth in operating income compared with the same period of last year, but the ranking declined slightly; the operating income of Tongkun Group, Eastern Shenghong, and Sanyou Chemicals all declined compared with the same period last year, so did the ranking.

Figure 1. China's chemical fiber companies in the Fortune China 500 list in 2021

On August 2, 2021, the US "Fortune" magazine released the 2021 Fortune 500 list. The operating income of the Fortune 500 companies was about US$31.7 trillion in 2020, down 5% from last year, and the total net profit was at US$1.6 trillion, a sharp drop of 20% year-on-year, the biggest drop since 2009.

China has four chemical fiber companies on the list, namely Hengli Group, Zhejiang Rongsheng Holding Group, Zhejiang Hengyi Group and Shenghong Holding Group. Among them, Hengli Group made a big stride into the world's top 100 companies with operating income of US$100.773 billion, ranking 67th, up 40 places from last year; Shenghong Holding Group ranked 311th with operating income of US$38.44 billion, up by 144 places compared with last year’s ranking; Zhejiang Rongsheng Holding Group and Zhejiang Hengyi Group both made the list for the first time. Zhejiang Rongsheng Holding Group ranked 255th with operating income of US$44.726 billion, and Zhejiang Hengyi Group ranked 309th, with operating revenue of 38.562 billion US dollars.

Figure 2. Chinese chemical fiber companies among the Fortune Global 500 in 2021