7 Ningbo automotive supply chain companies make nation's top 100 list

Seven enterprises from Ningbo have been listed among the top 100 automotive supply chain companies in China, according to a white paper released on Aug 22.

The seven companies from Ningbo that made the list are Joyson (5th), Huaxiang (16th), Jifeng (22nd), Minth (25th), Toupu (29th), Xusheng (94th), and Shuanglin (95th).

Joyson was the standout among them, ranking 48th worldwide. Data revealed that in 2023, Joyson achieved a supply chain revenue of 55.32 billion yuan ($7.75 billion), marking a year-on-year uptick of 11.76 percent and surpassing 50 billion yuan for the first time, a feat unmatched by any other enterprise in Ningbo.

Huaxiang showed a robust growth trajectory, climbing four places in the rankings from the previous year to secure a position among the top 20 nationally. The company's 2023 operating income stood at about 23.24 billion yuan, reflecting a 17.85 percent year-on-year increase.

Jifeng, Minth, and Toupu solidified their positions among the top 30 companies nationwide, with their 2023 operating incomes reaching approximately 21.57 billion yuan, 20.52 billion yuan, and 19.7 billion yuan, respectively, up by 20.06 percent, 18.59 percent, and 23.18 percent. Additionally, both Xusheng and Shuanglin surpassed 4 billion yuan in supply chain revenue in 2023, securing places in the national 100 list.