Fortune Plus APP released the latest Fortune Global 500 ranking simultaneously with the world on August 3, 2022, Beijing time. Among them, textile-related Chinese companies include: Hengli Group Co., Ltd. (75th place), Zhejiang Rongsheng Holding Group Co., Ltd. (180th place), Shandong Weiqiao Entrepreneurship Group Co., Ltd. (199th place), Shenghong Holding Group Co., Ltd. ( 241), Zhejiang Hengyi Group Co., Ltd. (264), Xinjiang Zhongtai (Group) Co., Ltd. (434).
In 2021, the shadow of COVID-19 will still cast its shadow over the world, but the world economy is struggling to restart amid the epidemic. However, the total operating revenue of this year’s Fortune Global 500 companies was approximately US$37.8 trillion, a sharp increase of 19.2% from the previous year (the largest increase in the history of the list), equivalent to one-fifth of global GDP that year. Second, it is close to the combined GDP of China and the United States. The threshold for entering the rankings (minimum sales revenue) also jumped from US$24 billion to US$28.6 billion. At the same time, the total net profit of all companies on the list this year is approximately US$3.1 trillion, a sharp increase of 88% year-on-year, the largest increase since 2004.
This year, the growth in the number of companies in mainland China (including Hong Kong) has declined. Compared with an increase of 11 companies last year, this year only one more company has been added, reaching 136. Including companies from Taiwan, China has a total of 145 companies on the list, and the number of large companies continues to rank first among all countries.
This year, the average operating income of enterprises in mainland China (including Hong Kong) reached 80.98 billion U.S. dollars, a significant increase compared with last year’s figures; in addition, the average total assets were 358 billion U.S. dollars, and the average net assets were 43.18 billion U.S. dollars, both exceeding the Fortune 500. average level.
However, the gap between the profitability of Chinese companies and the average level of the world’s top 500 companies has widened. The average profit of China’s 145 companies on the list is about US$4.1 billion. Although it has improved compared with itself, the average profit of the Fortune Global 500 rose to US$6.2 billion during the same period. Some countries are used as comparison objects: for example, the average profits of German companies on the list are US$4.4 billion, British companies are US$6.96 billion, Canadian companies are US$4.75 billion, French companies are US$4.85 billion, and Brazilian companies are US$8.48 billion, etc., all higher than Chinese companies. . Compared with American companies on the list, the profit gap between Chinese companies is even more obvious. In 2022, the average profit of the 124 American companies on the Fortune Global 500 is as high as US$10.05 billion, almost 2.5 times that of the Chinese companies on the list. The profits and growth rates of Chinese companies on the list are far lower than the U.S. and world averages.
At the same time, calculated based on the above data, the average return on sales of the companies on the list in mainland China is 5.1%, the return on total assets is 1.15%, and the return on net assets is 9.5%. All three indicators lag behind the average of the Fortune Global 500. level. Compared with American companies, the three indicators of the 124 American companies on the list are 11%, 3.21% and 21.9% respectively, and their operating conditions are significantly better than those of the Chinese companies on the list.
Overall, the number of Chinese companies on the Fortune Global 500 list in 2022 has increased and their scale has expanded. However, the global industrial chain is being reorganized, and the rules of global corporate competition will also be restructured. In the future, large Chinese companies will inevitably face more severe challenges.
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