Name：HENAN GUANGDA TEXTILES IMP. & EXP. CO., LTD.
Add：10/F,XinMangGuo Building,No.9 Business Outer Ring Road,ZhengDong New District,ZhengZhou,China
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|
|106||Xiamen ITG Holding Group|
|180||Zhejiang Rongsheng Holding Group|
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.
|Return on sales||5.10%||11%|
|Return on total assets||1.15%||3.21%|
|Return on equity||9.50%||21.90%|
*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.