China polyester enterprises in 2022 Fortune Global 500 List

On July 12, 2022, Fortune Plus APP released the 2022 "Fortune" China Top 500 rankings, covering the performance and achievements of the world's largest Chinese listed companies in the past year. The total operating income of the 500 listed companies on the list reached 62 trillion yuan in 2021, with a year-on-year growth of 17%, exceeding half of China's GDP in 2021 (China's GDP was 114.367 trillion yuan in 2021); The total net profit approached 4.7 trillion yuan, up around 9% on the year.

The six leading polyester enterprises Hengli Petrochemical, Rongsheng Petrochemical, Hengyi Petrochemical, Tongkun Group, Eastern Shenghong and Xinfengming Group were all shortlisted in the list of Fortune China Top 500 in 2022, with operating income and net profit significantly increased year-on-year, and the ranking was also higher than that in 2021. The total operating revenue of these six enterprises reached 659.6 billion yuan in 2021, up 46% year-on-year. The net profit amounted to 45.893 billion yuan, a year-on-year increase of 66%. 

Among them, Hengli Petrochemical had an operating income of 198 billion yuan and a net profit of 15.5 billion yuan, ranking 64th on the list, 12 places higher than last year; Rongsheng Petrochemical has an operating income of 177 billion yuan and a net profit of 12.8 billion yuan, ranking 70th and 31 places higher than last year. Hengyi Petrochemical's operating income exceeded 100 billion yuan, ranking 106th on the list, 24 places higher than last year. The operating income of Tongkun Group and Eastern Shenghong both exceeded 50 billion yuan, ranking 231st and 250th respectively, up 19 and 173 places respectively compared with last year. Xinfengming Group ranked 282nd with operating income of 44.8 billion yuan and net profit of 2.3 billion yuan, up 5 places from last year.

On August 3, 2022, Fortune magazine released the list of the world's top 500 in 2022. The total operating income of the enterprises in the list of the world's top 500  was about US$37.8 trillion in 2021, up 19.2% compared with last year; Total net profit was about $3.7 trillion, up 88% from a year earlier, the biggest increase since 2004, and the threshold for entry into the rankings (minimum operating income) also jumped from $24 billion to $28.6 billion.

China has four polyester leading companies on the list, namely Hengli Group, Zhejiang Rongsheng Holding Group,Shenghong Holding Group and Zhejiang Hengyi Group. Among them, Hengli Group ranked 75th with operating income of US$113.536 billion, down 8 places slightly compared with last year; Shenghong Holdings Group ranked 241st with operating income of US $53.948 billion, a sharp jump of 70 places from last year's ranking for the third year in a row. Zhejiang Rongsheng holding Group and Zhejiang Hengyi Group were both on the list for the second time. Zhejiang Rongsheng Holdings Group ranked 180th with operating income of US$69.503 billion, up 75 places from last year, and Zhejiang Hengyi Group ranked 264th with operating income of US$50.974 billion,  up 45 places from last year. The sum of the four companies 'operating income increased by about 29% year-on-year, and the sum of profits rose by about 27% on annual basis.