Fortune China 500 List 2017: Changlin Co., Ltd. (SUMEC Group) Ranks 135th

2017-08-10 09:50:00 Print To share:

In 2016, SUMEC Group and *ST Changlin (600710) conducted major assets restructuring based on planning and preparation of SINOMACH. All the business, assets and liabilities of the original Changlin Co., Ltd. have been extracted, and 100% of equity of SUMEC Group has been injected in an integral way so that SUMEC Group turned into the sole wholly-owned subsidiary of Changlin Co., Ltd. The management body of Changlin Co., Ltd. is changed to SUMEC Group and its main business is altered to modern manufacturing service.

Recently, Fortune released the latest Fortune China 500 List, evaluating the performance and achievement of the largest listed Chinese firms around the world over the past year. Among the list, Changlin Co., Ltd. (SUMEC Group) ranks 135th with operating revenue of RMB50.172 billion; 33 enterprises in Jiangsu Province are ranked in the List.

Total operating turnover of the 500 companies amount to RMB33.54 trillion in this year, up 9% from the previous year; net profit totals RMB2.8 trillion, an increase of about 2.2%, presenting obvious recovery and rise in growing rate of operating turnover and profit compared with the last year. The threshold for this year’s ranking is RMB11.323 billion in annual operating turnover, exceeding RMB10 billion for the first time. Companies to be evaluated cover all Chinese companies listed within and outside China.

The coming three years represents a critical period for Changlin Co., Ltd. (SUMEC Group) to carry forward the strategic development of “13th Five-year Plan”. The company is going to further promote the “integration of industry and finance”, implement the double-wheel drive of “industry + investment”, complete the existing core links of industrial chain, such as advanced manufacturing, self-owned brand, core technology, key qualification platform, by means of acquisition and reorganization, and accelerate the cultivation of strategic emerging industries, including clean energy, auto parts, rail transit parts, cross-border E-commerce, etc. for the purpose of propelling the quality, profitable and sustainable progress of Changlin Co., Ltd. (SUMEC Group).

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