Gree, Huafa, Zhenrong among China's Top 500

Zhuhai companies Gree Electric Appliances, Huafa Group, and Zhenrong Corp were listed at the 2017 China Top 500 Enterprises Summit on Sept 10.

The citations were made in Nanchang, capital of Jiangxi Province, by the China Enterprise Confederation and China Enterprise Directors Association.

In line with prevailing international practices, the list was reviewed by an expert panel and based on operating revenue in 2016. 

With annual sales of 108.3 billion yuan ($16.6 billion), leading Chinese appliance manufacturer Gree Electric Appliances moved up 13 places to 141st compared with last year. It also climbed 15 rungs to 49th among the China Top 500 Manufacturing Enterprises 2017.

Since 2016, the company has speeded up industrial transformation in intelligent equipment, smart homes, and molds while consolidating its market share in air conditioning.

2017 China Top 500 Enterprises Summit [Photo courtesy jiangxi.jxnews.com.cn]

Huafa Group is the controlling shareholder of Huafa Industrial Share, Huajin Capital, iOne Holdings, and Higrand Electronics Technology. This year, it rose 38 places to rank 446th among the top 500 firms with revenue of 32.1 billion yuan ($4.9 billion).

Shifting from a real estate business operating through Huafa Industrial Share, Huafa Group has formed a "4+2" business structure. The company has complemented its core businesses of urban operations, real estate development, financial services, and industrial investment with commercial and modern services.

Zhenrong Corp is a state-owned enterprise focusing on imports and exports of crude, fuel, and condensate oils. This year, falling 167 places in the ranking, it slid to 494th with revenue of 28.9 billion yuan ($4.4 billion). Its import volume is included in the foreign trade statistics of Zhuhai.