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• On August 5, Fortune China released the Fortune Global 500 list. The list shows that the total operating income of the companies on the Fortune Global 500 list this year is about 41 trillion US dollars, equivalent to one-third of the global GDP, a slight increase of about 0.1% over last year. The threshold for this list (minimum sales revenue) has increased from 30.9 billion US dollars to 32.1 billion US dollars. The total net profit of all listed companies increased by 2.3% year-on-year to about 2.97 trillion US dollars.
• Walmart has been the world's largest company for the eleventh consecutive year. Amazon returned to second place. China's State Grid Corporation continued to rank third, and Sinopec ranked fifth. This year, including companies in Taiwan, a total of 133 Chinese companies made the list, 9 fewer than last year. Among the five Internet giants, except for Alibaba, which dropped two places, JD.com, Tencent, and Meituan rose in the rankings, and Pinduoduo made the list for the first time.

133 Chinese companies have a total revenue of about $11 trillion

This year, including companies in Taiwan, China has a total of 133 companies on the list, 9 fewer than last year. In contrast, the United States has a total of 139 companies on the list this year, 3 more than last year, and the number of large companies ranks first among all countries. This is the first time since 2018 that the number of Chinese companies on the list is less than that of the United States.

This year, the total revenue of the 133 Chinese companies on the list in 2023 is about 11 trillion US dollars, which is about 6% lower than the total revenue of the 142 companies on the list last year; the average sales revenue is about 83 billion US dollars, which is lower than the average revenue of US$99 billion of American companies on the list, and slightly higher than the average of the 500 companies on the list; the number of companies from mainland China (including Hong Kong) on ​​the list is 128, which is 7 fewer than last year. In terms of operating profit, the average of companies on the list in mainland China (including Hong Kong) is 3.9 billion US dollars.

10 Chinese automakers and auto parts companies made the list

Among the 15 fields in which Chinese companies are listed, the development of "automobiles and auto parts" is more prominent: a total of 10 Chinese automobile and auto parts companies have entered the Fortune Global 500 in 2024. Among these 10 companies, Chery is on the list for the first time, ranking 385th with a revenue of US$39.1 billion.

The rankings of the other nine companies have mostly risen year-on-year. Last year, BYD was the Chinese company that improved the most in ranking. This year, the company's revenue increased from $63 billion last year to $85.1 billion, and its ranking rose by 69 places compared to last year. Meanwhile, CATL's revenue increased from $48.8 billion to $56.6 billion this year after it made its debut on the list last year. Geely also rose by 40 places, with its revenue increasing from $60.4 billion to $70.4 billion.

Internet giants rose overall, with Pinduoduo making the list for the first time

Among the 128 companies in mainland China (including Hong Kong), excluding 5 new and re-listed companies and 6 companies whose rankings remained unchanged, 46 companies rose in ranking, but 71 fell in ranking. Among them, the overall ranking of large companies in the Internet field rose.

Among the five Internet giants, except for Alibaba, which dropped two places, JD.com, Tencent and Meituan all improved their rankings. At the same time, Pinduoduo made the list for the first time, ranking 442nd. Benefiting from the recovery of China's Internet industry, Meituan became the Chinese company with the largest ranking improvement on the list, jumping 83 places to 384th. JD.com, ranked 47th, entered the top 50 for the first time, replacing Ping An of China as the largest private company in mainland China.

According to Meituan's 2023 financial report, Meituan's revenue for the whole of last year was 276.7 billion yuan, a year-on-year increase of 26%. Operating profit was 13.41 billion yuan, compared with an operating loss of 5.82 billion yuan in the same period last year. Net profit was 13.86 billion yuan, compared with 6.69 billion yuan in the same period last year. Adjusted net profit was 23.25 billion yuan, compared with 2.83 billion yuan in the same period last year.

Pinduoduo has maintained high growth, and its overseas business has become the second growth curve. According to the financial report, last year, Pinduoduo's annual revenue was 247.6 billion yuan, a year-on-year increase of 90%. Net profit attributable to ordinary shareholders was 60.0265 billion yuan, a year-on-year increase of 90%. Since its launch in September 2022, the number of cross-border e-commerce Temu sites has reached more than 50.

In the ROE list, among the 50 companies with the highest ROE, only two are Chinese companies: Chery Holding Group ranked 40th with a 35% ROE, and Pinduoduo ranked 47th. In terms of ROE, the top 10 Chinese companies are: Chery Holding Group Co., Ltd., Pinduoduo Holdings Co., Ltd., TSMC, Contemporary Amperex Technology Co., Ltd., BYD Co., Ltd., Quanta Computer Inc., Midea Group Co., Ltd., Zijin Mining Group Co., Ltd., Luxshare Precision Industry Co., Ltd., and Lenovo Group Ltd.

Written by: Southern Metropolis Daily reporter Huang Pei