On August 2, “Fortune” magazine announced the 2021 Fortune 500 list. A total of 143 Chinese companies are on the list. The number of companies on the list ranks first for the second consecutive year. In the chemical fiber industry, Hengli Group Co., Ltd. The company ranks 67th on the list with operating income of US$100,773.1 million, ranking first among textile and chemical fiber companies, and its ranking has risen 40 places from last year; Zhejiang Rongsheng Holding Group Co., Ltd. and Zhejiang Hengyi Group Co., Ltd. are on the list for the first time. ; Shenghong Group quickly climbed to 311th place from the 455th place on the list for the first time last year, jumping 144 places in one year.
The top five chemical companies are China National Petroleum Corporation, China Petroleum & Chemical Corporation Group Ltd., Saudi Aramco, BP, Royal Dutch Shell.
According to reports, affected by the new crown epidemic, this year’s Fortune Global 500 ranking companies Its operating income was approximately US$31.7 trillion, down 5% from last year. The threshold for entering the rankings (minimum sales revenue) also dropped from US$25.4 billion to US$24 billion. At the same time, corporate profits also fell sharply. The total net profit of all companies on the list this year was US$1.6 trillion, a sharp drop of 20% year-on-year, the largest decline since 2009. The direct cause of the decline in operating income and profits of these companies is obviously related to the global spread of the COVID-19 epidemic in 2020. The spread of the COVID-19 epidemic has disrupted global supply chains and stagnated economic activities in Western Europe, North America, and East Asia. The operations of Fortune 500 companies have shrunk, leading to a decline in earnings.
Although the COVID-19 epidemic in 2020 has brought difficulties to business operations, the average sales revenue and average profits of Chinese companies on the list are basically the same as those of the previous year. At the same time, due to their rapid recovery from the epidemic, Chinese companies entering the 2021 rankings not only have an expanded numerical advantage, but their business operations have also improved in horizontal comparisons.
What is worthy of attention is that Hengyi Group has been on the list for the first time, which marks that Hengyi Group has officially entered the ranks of global large companies and groups, and its corporate value and comprehensive strength have gained authority around the world. Recognition and Demonstration. Hengyi said that being listed in the Fortune Global 500 is an inevitable result of the development and growth of Hengyi Group. Now, successfully becoming one of the world’s top 500 companies, Hengyi Group, which has long been focused on business and down-to-earth, is like an exciting shot in the arm. Hengyi people have never been so global-minded, ambitious, confident and determined as they are now.
Hengyi stated that 2021 is the first year of Hengyi Group’s “Sixth Five-Year Plan”. Based on its glorious achievements in the past and future development plans, Hengyi Group has proposed to enter the top 300 of the Fortune Global 500 by 2024, the 50th anniversary of Hengyi’s founding, and to become a world-class petrochemical company by 2044, the 50th anniversary of Hengyi’s founding. The “Two Fifty-Year” goals of one of the industrial groups have sounded the clarion call of the times to lead Hengyi Group to pursue its dreams. Ranking 309th among the Fortune Global 500 in 2021 this time has laid a solid foundation for realizing the first “fifty year” goal of Hengyi Group’s “two fifty years”.
It is also amazing that Shenghong Group jumped 144 places. Sheng Hong said that currently, the new development pattern of “dual circulation” and the proposal of “dual carbon” goals have caused the world’s original industrial chain, supply chain, and value chain to face major adjustments. In the past year, Shenghong Group has strengthened technological innovation and industrial chain and supply chain resilience, strengthened basic research, promoted applied research, promoted the industry’s “strong chain” and “chain extension” through major project construction and forward-looking strategic planning, and accelerated the resolution of “stuck” “neck” problem, comprehensively deploy new energy, new materials and other national strategic emerging industries, accelerate the construction of a new development pattern, and issue a clarion call to transform into a high-end manufacturing power.
Facing the “14th Five-Year Plan”, as a leading enterprise in the private economy, Shenghong said that it will closely adhere to the spirit of the central government In line with the national strategic direction, we plan to concentrate our superior forces during the “14th Five-Year Plan” period, closely focus on the needs of major national industries such as photovoltaic power generation, aerospace, new energy vehicles, biotechnology, and electronic information, and accelerate the layout and development of new energy and new materials industries. The project is implemented, breaking through cutting-edge technologies, comprehensively improving the high-end supply capacity of the industrial chain, helping the country to become self-reliant in science and technology and accelerating the development of a new development pattern of a high-end manufacturing power.
Hengli Group has entered the world’s top 100 companies. As the only listing platform of Hengli Group in the entire polyester chemical fiber industry chain business, Hengli Petrochemical has formed a comprehensive business from crude oil to polyester chemical fiber. The industry’s integrated collaborative development model of the entire industry chain, and relying on the cost reduction brought by the advantages of scale and the synergistic effects brought by the integrated industry, has successfully crossed the threshold of “revenue of 100 billion and profit of 10 billion”. In 2020, Hengli Petrochemical’s performance bucked the trend and achieved substantial growth, with total operating income of 152.373 billion yuan and net profit attributable to shareholders of listed companies of 13.462 billion yuan, a record high.
It is understood that relying on the support advantages of the upstream “big chemical” platform and increasing the downstream polyester industry chain, Hengli plans to invest more than 24.2 billion yuan to build an 800,000-ton/year functional polyester plant. Ester film, functional plasticMaterial projects, 450,000 tons/year PBS biodegradable plastic project, 1.5 million tons/year green multi-functional new textile material project and new material supporting chemical projects, continue to open up new material business growth points.
Zhejiang Rongsheng Holding Group ranked 255th on the list for the first time with operating income of US$44.7259 billion. Zhejiang Rongsheng Holding Group is mainly engaged in petrochemicals and polyester. It is also involved in real estate, trade, logistics, venture capital and other industries. At present, the main business has formed crude oil-aromatics (PX), olefins-purified terephthalic acid (PTA), ethylene glycol (MEG)-polyester (fiber chips, bottle chips, films)-spinning (POY, FDY)-processing DTY has a complete upstream and downstream industrial chain and is one of the few domestic advantageous enterprises with an integrated and complete industrial chain. Rongsheng’s single-base refining scale and integration level are in the leading position in the industry, and it is the country’s leading manufacturer and seller of aromatics, PTA and polyester. Its subsidiary “Rongsheng Petrochemical” has been selected into the top 25 most valuable chemical brands in the world for two consecutive years.
For chemical fiber companies, the Top 500 is a label of their own strength and a new starting point for further steady development. </p
