The Fortune recently announced the 2023 Fortune China Top 500 listed enterprise list. The list took into consideration the enterprises' operating revenue in 2022 as an indicator. It includes both domestic and overseas listed Chinese enterprises. Five Hunan enterprises made the list. They are: Hunan Iron & Steel Group Co., Ltd., Lens Technology, Hunan Yuneng New Energy Battery Materials Co., Ltd., Zoomlion, and Hunan Tangrenshen Meat Products Co., Ltd.

The annual revenue threshold of the shortlisted companies was nearly 23.7 billion CNY. The Hunan Iron & Steel Group Co., Ltd. ranked 82nd on the list with an annual operating revenue of 168.636 billion CNY. The Lens Technology achieved an annual revenue of 46.699 billion CNY, ranking 276th. Hunan Yuneng ranked 296th with 42.79 billion CNY in revenue. Zoomlion and Tangrenshen ranked 300th and 454th with an operating revenue of 41.632 billion CNY and 26.539 billion CNY respectively.

The 2023 Fortune China Top 500 listed enterprise gained a total operating revenue of 65.8 trillion CNY and a net profit of 4.7 trillion CNY. The top three companies on the list were China Petrochemical Corporation, China National Petroleum Corporation, and China State Construction Engineering Corporation. The China Railway Group Limited ranked fourth on the list, while the Ping An Insurance (Group) Company of China, Ltd. ranked fifth, leading the non-state-owned enterprise sector. The top ten list also included such private listed companies as JD Group and Alibaba Group, which ranked 7th and 10th respectively.

The banking industry was still the most profitable sector among all the listed companies. The Industrial and Commercial Bank of China topped the profitability list with a net profit of 360.483 billion CNY, followed by the Construction Bank of China, the Agricultural Bank of China, and the Bank of China. The Tech heavyweight Tencent Holdings ranked 5th in the profit list, while Alibaba and Pinduoduo took the 15th and 26th places respectively.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Yu Jiangjiang

Chinese source: Hunan Daily