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Congratulations to Hengxing & Baotuo in the Fujian Top 100 Private Enterprises List
2019.12.19 1208

On November 19, 2019, Fujian Federation of Commerce & Industry released the “Fujian Top 100 Private Enterprises 2019” list and the “Fujian Top 50 Manufacturing Private Industries 2019” rank in Fuzhou, along with the “A Survey and Analysis Report on the Fujian Top 100 Private Enterprises 2019” and “A Report on the Social Responsibility of Private Enterprises in Fujian”. On the Top 100 Private Enterprises list, Xiamen Hengxing Group Co., Ltd. and Xiamen Baotuo Resources Co., Ltd. were respectively placed the 24th and the 35th

Higher entry threshold

Data shows that the threshold for entry into the “Fujian Top 100 Enterprises 2019” list is 1.506 billion yuan, a 50.06% increase over the previous year, equivalent to 506 million yuan.


According to the list, the average operating income of the top 100 enterprises hit 15.52 billion yuan, an increase of 4.115 billion yuan over the previous year. 27 companies brought their revenues over 10 billion yuan, seeing a growth of 33.1% in average operating income. Only 1 company achieved over 100 billion yuan for revenues last year but the number went up to 4 in the 2019 list. Yango Longking Group topped the list with a revenue of 220.986 billion yuan, placed the 20th in the China Top 500 Private Enterprises list. It was the sole private enterprise in Fujian Province that passed the 200 billion mark. Three new enlisters—Zhengrong Group Co., Ltd., Qingtuo Group Co., Ltd., and Fusheng Group Co., Ltd.—had their revenues exceed 100 billion yuan.


Over 50% of “made-in-Fujian companies

In terms of industrial distribution, of the top 100 enterprises, 31 were from the tertiary industry, 67 the secondary, and 2 the primary. The manufacturing industry dominated the list, with 58 companies shortlisted. Among the top ten enlisters, 3 were from the manufacturing industry: Qingtuo Group (3rd), Eversun Holdings Group (7th), and Highsun Group (8th). The members of the Fujian Top 50 Private Enterprises in Service Industry list of 2019 were all on the “Fujian Top 100 Enterprises 2019” list, telling the great strength of "Made in Fujian".


The tertiary industry, however, featured strongest overall strength with total assets of 1.6941 trillion yuan, which was three times the sum of the total assets of the primary industry (17.914 billion yuan) and the secondary industry (536.032 billion yuan), accounting for 75.35% of all the three industries. Among the top ten companies, 7 were from the tertiary industry: Yango Longking Group (1st), Zhengrong Group (2nd), Fusheng Group (4th), Rong Qiao Group (5th), Yonghui Superstores Co., Ltd. (6th), Junhe (Xiamen) Holdings, Co. Ltd. (9th), and Sansheng Holdings (Group) Co. Ltd. (10th).


85 enlisters based in Fuzhou, Xiamen & Quanzhou

In regards to regional distribution, the top 100 enterprises are distributed in nine cities with subordinate districts in Fujian. Fuzhou, Xiamen and Quanzhou embraced the largest number of shortlisted companies, totaling 85. Among them, 36 were from Fuzhou, an increase of 5 over the previous year; 29 from Xiamen, an increase of 2 over the previous year; 20 from Quanzhou, a decrease of 5 over the previous year.


Emerging industries in rapid growth

Among the top 100 private enterprises, 21 businesses are from strategic emerging industries like new-generation information technology, new materials and new energy, an increase of 7 compared to 2018, with operating income totaling over 500 billion yuan. 

The average net profit margin of the selected enterprises reached 13.3%, whose per capita labor productivity was 4.5 times that of enterprises from other industries and per capita net profit was 12.6% higher than that of others. CATL, the largest single-industry enterprise in the strategic emerging industry, relies on its independently developed ternary lithium battery technology and installed capacity of power batteries to top the world for two consecutive years.


Private economy, a new driving force in Fujian

Statistics show that as of the end of 2018, Fujian Province had 1.1415 million private enterprises, accounting for 92.36% of the total number of enterprises in the province, and 14,000 were private enterprise above designated size, accounting for roughly 80% of the province's total numbers. The added value of the private economy accounted for 70% of the province's GDP, contributing 70.5% of taxes and 73% of scientific and technological achievements and absorbing 82% of employment—an outstanding contribution to the economic and social development of the province. This year saw private investment increase by 20.6% in Fujian, an increase of 2% over the previous year, accounting for 56.5% of fixed asset investment, and a contribution rate of 94.9% to the growth of all fixed asset investment, an increase of 15.4% over the previous year. Fujian's private investment increased by 19.2% this year—a contribution of 77.8% to investment growth rate.


Strong strength & steady growth

Xiamen Hengxing Group Co., Ltd. was founded in 1994, adhering to the core values of “integrity, responsibility, innovation and win-win” and committed to becoming a respected century-old enterprise. Over more than 20 years of steady development, Hengxing has grown into a large private enterprise that takes investment as the leading business but integrates mining, trade, asset management, cultural tourism, education and others, with its wholly-owned and controlled subsidiaries scattered in mainland China, Hong Kong, Vietnam and other countries and regions. With a total asset exceeding 17 billion yuan, Hengxing is Hengxing is now part of the China Top 500 Private Enterprises list and a member of China’s top 500 service companies, Fujian’s top 100 enterprises, Fujian’s top 100 private enterprises, Xiamen’s top 100 enterprises, and leading private enterprises in Xiamen.

Xiamen Baotuo Resources Co., Ltd., a subsidiary of Hengxing, specializes in such commodities as non-ferrous metals, ferrous metals and their metallurgical products, non-metallic mineral products, rubber, chemicals, fuel oil, coal, palm oil and corns. To meet market demands, Baotuo is striving to expand its scope of business. It possesses several wholly-owned subsidiaries, scattered in Mainland China, Hong Kong, Singapore and other countries or regions. Baotuo has also established strategic partnerships and long-term friendly cooperation with a number of large steel mills, distinguished firms and listed companies to gain market shares in the Middle East, Europe, America, Asia, South America, East China, South China, North China, etc. In terms of coke export, the company has been ranked among China's tops for two years.

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