Customers pay for goods at a Vipshop in downtown Beijing. [Photo provided to China Daily]
Five enterprises run by businesspeople from Wenzhou, a coastal city in East China's Zhejiang province, were listed by Fortune magazine on its 2022 China 500 list on July 12, local media outlets reported.
The five enterprises were Vipshop Holding Ltd, a leading e-commerce platform, CHINT Group, a global smart-energy solutions provider, Huafon Chemical, Zhongliang Holdings Group, and Universal Scientific Industrial Co.
This year's list has taken into consideration the performance and achievements of Chinese listed companies worldwide over the past year.
Vipshop Holding Ltd, which ranked 115th on the list, generated 117.06 billion yuan ($17.35 billion) in revenue last year, making it the only one of the five finalists with revenue exceeding 100 billion yuan.
CHINT Group and Huafon Chemical, which are also headquartered in Wenzhou, ranked 319th and 419th on the list, generating revenue of 38.87 billion yuan and 28.37 billion yuan last year, respectively.
Statistics show that the total revenue and net profit of the 500 listed companies have reached 62 trillion yuan and 4.7 trillion yuan, growing 17.4 percent and 9.2 percent year on year, respectively. The annual revenue threshold for enterprises on this year's list was nearly 22.8 billion yuan, up 31 percent from nearly 17.4 billion yuan last year.
