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SINOMACH Ranks 293rd in 2016 Global Fortune 500 List

2016-08-26 15:18:36 Print To share:
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On the night of July 20, 2016 (Beijing time), the Fortune magazine released the 2016 Global Fortune 500 list simultaneously to the whole world, among which SINOMACH ranked 293rd with the operating revenue of 35.134 billion US dollars.

In 2015, facing the intricate and complicated economic environment along with interwoven adverse factors and tough task for stabilizing growth, SINOMACH thoroughly implemented the decisions and deployments formulated by the Party Central Committee, the State Council and the SASAC (the State-owned Assets Supervision and Administration Commission), stuck to seeking progress when while maintaining stability and to reforming and innovating, deeply practiced “the second startup,” consequently achieving the goal of maintaining growth and pushing all works towards a new stage. SINOMACH gained the overall profit of RMB 8.3 billion Yuan in 2015 as a whole, among which the former SINOMACH (excluding China National Erzhong Group Co.) realized profit of RMB 8.5 billion Yuan, with year-on-year growth of RMB 60 million Yuan. China National Erzhong Group Co. significantly reduced losses through reorganizing debts, turning losses and shaking off poverty and other means. SINOMACH reached Economic Value Added (EVA) of RMB 4.1 billion, with year-on-year growth of RMB 3.05 billion Yuan and paying tax of RMB 12 billion Yuan, which remained Grade A in the operating performance assessment charged by SASAC for seven consecutive years.

Due to the lasting depressed world economy, the operation of 2016 Global Fortune 500 enterprises did not go well as expected. The overall operating revenue and net profits of the 500 enterprises presented 27.6 trillion US dollars and 1.48 trillion US dollars respectively, with year-on-year decline of 11.5 percent and 11 percent separately. Additionally, the access threshold also reduced to 20.92 billion US dollars with the decline of 11.8 percent, compared to that of the last year.

The number of Chinese companies listed in the Global Fortune 500 continues to increase reaching 110 till now, an increase of 4 compared to that of the last year. And the number of listed enterprises remains the second place in the world, which further narrows the gap between the numbers of Chinese listed enterprises and of the American ones. It is worth mentioning that among the top five enterprises of the Global Fortune 500, three are Chinese Companies, namely, the State Grid Corporation of China, China National Petroleum Corporation and SINOPEC, which ranks 2nd, 3rd and 4th respectively.

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