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48 Chinese industrial energy companies are shortlisted in the world‘s top 500, and the companies listed for the first time are all from the steel industry
The three companies are Hangzhou Iron and Steel Group, Hunan Iron and Steel Group and Delong Iron and Steel Group.
A total of 145 Chinese companies are listed in the Fortune Global 500 this year, and companies in the industrial energy sector account for nearly one-third.
On August 3, Fortune magazine announced the 2022 Fortune Global 500 list. The list is ranked by revenue scale. According to Jiemian News, a total of 48 Chinese industrial energy companies are shortlisted for this year’s list.
State Grid, PetroChina and Sinopec ranked third to fifth on the list. PetroChina became the most profitable Chinese industrial energy company last year with a profit of US$9.6 billion (about 64.8 billion yuan).
Among the above 48 shortlisted domestic industrial energy companies, seven suffered losses last year. China Datang Group lost 2.9 billion US dollars (about 19.5 billion yuan), becoming the loss king.
Compared with last year, a total of six industrial energy companies were newly included in the world‘s top 500 this year, and three of them have been included in the list for many times, including China Aviation Oil Group, Lu’an Chemical Group and Taiwan’s CNPC.
There are three other companies on the list for the first time. They are all from the domestic steel industry, namely Hangzhou Iron and Steel Group, Hunan Iron and Steel Group, and Delong Iron and Steel Group, ranking 336th, 421st and 469th on the list.
Hangzhou Iron and Steel Group was established in 1957. Its predecessor was Hangzhou Iron and Steel Plant. Now it has developed into a large-scale enterprise group with steel as its main business and diversified development. It owns Hangzhou Iron and Steel (600126.SH) and Feida Environmental Protection (600526.SH). ) two listed companies.
Hunan Iron and Steel Group was established in 1997. It was jointly formed by the three major iron and steel enterprises in Hunan Province, Xianggang, Liangang and Henggang. It has two listed companies: Valin Iron and Steel (000932.SZ) and Valin Cable (001208.SZ). company. Among them, Valin Iron and Steel is one of the leading enterprises in China mainly focusing on sheet metal.
Delong Iron and Steel Group is the only private enterprise among the three. The company was established in 1992 and its business covers steel, trade, logistics and energy and environmental protection.
Including the above three companies, a total of 12 domestic steel companies were shortlisted in the Fortune Global 500. China Baowu, a central enterprise, entered the top 50 for the first time this year, ranking first among global steel companies. Another central enterprise, Ansteel Group, ranked 217th, jumping 183 places, becoming the fastest-rising one among China’s industrial energy companies.
In addition, China Coal Energy Group and China Sinochem Holdings also increased their rankings by more than 100 places. Sinochem Holdings will be jointly reorganized by Sinochem Group and China National Chemical Corporation in 2021. Neither company had entered the top 100 in the world before, and Sinochem Holdings after the reorganization jumped directly to the 31st place.
China’s industrial energy companies shortlisted in the world’s top 500 in 2022, data source: Fortune China