Hurun China's top 500 non-state-owned enterprises announced: 17 Shandong companies on the list, Zhongji Xuchuan rises
2024-08-15
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On August 13, Hurun Research Institute released the latest "2023 Hurun China 500", which lists the top 500 non-state-owned enterprises in China and ranks them according to their market value or valuation.
The Economic Herald reporter sorted out the list and found that 17 Shandong companies were on the list, the same as last year. These companies not only performed well in many traditional industries, but also emerged in some emerging industries.
Hurun Research Institute specifically mentioned some Shandong companies, for example, "Newly listed companies include Zhongji Xuchuan, a leading CPO concept stock company whose stock price has risen rapidly in the past year. The top 500 company with the smallest annual revenue is Tianyue Advanced, a semiconductor materials company founded in 2010, with revenue of 'only' 400 million yuan, but a value of 27.5 billion yuan."
17 Shandong companies made the list
The Economic Herald reporter noticed that Yantai is the city with the most companies on the list in Shandong, with five companies selected, namely Nanshan Group, Zhongji Xuchuan, Rongchang Biopharma, Jerry Shares and Linglong Tire.
Qingdao is another city with a relatively concentrated distribution of enterprises, with a total of three companies on the list, including Haier Smart Home, Sailun Tire, and Hisense Visual Technology. These companies occupy an important position in the home appliances, tires and other industries.
Binzhou has two companies on the list, namely Weichai Group and China Hongqiao, which shows the strong strength of Weichai.
In addition, companies from Dongying, Jinan, Jining, Liaocheng, Rizhao, Weihai, Weifang and other cities were also selected, covering multiple industries such as tires, semiconductor materials, paper, aluminum and electricity.
Haier Smart Home is the highest-ranked company in Shandong with a value of 212 billion yuan, ranking 33rd in the country. Xinfa Group ranks 70th in the country with a value of 130 billion yuan, an increase of 42.9%. Nanshan Group ranks 101st with a value of 100 billion yuan, with its main businesses covering aluminum, textiles and real estate.
It is worth mentioning that Sailun Tire's ranking has improved significantly, rising 129 places to 344th in the country, with a value increase of 20.3%. Sun Paper also rose to 369th, up 111 places from the previous year. In addition, Xinfa Group's value increase was the most significant, reaching 42.9%.
The Economic Herald reporter also noted that from the perspective of industry distribution, most of Shandong's listed companies are concentrated in traditional manufacturing fields, such as aluminum, textiles, tires and steel. At the same time, in emerging industries such as semiconductor materials, communication equipment, and biomedicine, Shandong has also seen the emergence of some representative companies, such as Tianyue Advanced, Zhongji Xuchuan, and Rongchang Biotechnology. Among them, Zhongji Xuchuan is a new company on the list, demonstrating the rise of emerging forces.
It is reported that in this Hurun list, the market value of listed companies is calculated based on the closing price on November 15, 2023, and the valuation of non-listed companies is based on reference to listed companies in the same industry or estimated based on the latest round of financing.
The software services industry has grown significantly this year
The 2023 Hurun China Top 500 list shows that the entry threshold has dropped by 1.5 billion yuan (5%) to 26.5 billion yuan compared with the previous year. The total value of the top 500 companies has dropped by 1 trillion yuan (2%) to 50 trillion yuan; the average value has dropped by 2 billion yuan to 100 billion yuan.
Among the companies on the list, the value of 230 companies increased compared with the previous year, including 79 new companies; the value of 22 companies remained the same as last year; and the value of 250 companies decreased.
55% of the companies on the list are B2B companies, a decrease of 2% from the previous year. 45% are directly facing consumers, an increase of 2% from the previous year. In addition, 71% of the companies provide physical products, a decrease of 5% from the previous year; 29% provide software or services, an increase of 5% from the previous year.
Hurun Research Institute mentioned that the total operating income of the top 500 companies in 2022 was 30.5 trillion yuan, 3.5 trillion yuan more than the previous year, and the average annual revenue of each company was 61 billion yuan, 7 billion yuan more than the previous year. Among them, 145 companies had annual revenue of less than 10 billion yuan. 12 companies had annual revenue of less than 1 billion yuan, mainly from the semiconductor and medical health industries.
Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said, "The total value of the Hurun China Top 500 companies this year is 50 trillion yuan, down 1 trillion yuan, or 2%, from last year, but still up nearly 40% from 2019. This 50 trillion yuan is equivalent to 90% of the total market value of listed companies on the Shanghai Stock Exchange. The threshold for the top 500 is 26.5 billion yuan, down 5% from last year."
In terms of industry distribution, the software services industry has grown significantly this year, becoming the sixth largest industry among the top 500 companies. Healthcare is still the first, and consumer goods are second. In terms of value, the media and entertainment, semiconductor, retail and consumer goods industries have the highest total corporate value.
"Compared with five years ago, the healthcare and industrial products industries performed steadily and maintained their top three positions. The semiconductor and energy industries rose rapidly, while real estate, financial services, and media and entertainment fell out of the top five," Hurun said. "In the past year, the industries with the most new companies on the list were semiconductors, healthcare, and consumer products, while the industries with the most dropped companies were industrial products and energy."
He also mentioned that "the average age of the Hurun China Top 500 companies is only 28 years old, which is 40 years younger than the average age of the Hurun Global Top 500 companies."
Hoogewerf said, "Value is perhaps the best way to measure a company's economic strength, because value takes into account not only the company's current performance, but also its future potential. Through this list, we can understand the companies that investors and shareholders believe will generate the most profits in the next 10 years."
"Our top 500 series of lists do not include state-owned enterprises, so China's most valuable state-owned listed company, Kweichow Moutai, which is worth 2.2 trillion yuan, is not on the list. There are 294 state-owned listed companies in China that meet the entry threshold of 26.5 billion yuan for our top 500 companies in China. If we include state-owned non-listed companies, there will be even more," said Hurun. (Economic Herald reporter Sun Luonan)
