In 2023, Fortune 500 listed companies in China, including 6 companies with coatings business, were shortlisted

The 2023 Fortune 500 list of Chinese listed companies based on their performance last year was newly released on July 11th, with 6 companies with coatings business being shortlisted.

Wanhua Chemical Group ranked 86 (revenue of 165.565 billion yuan and net profit of 16.233 billion yuan in 2022), Jinyu Group ranked 132 (revenue of 102.822 billion yuan and net profit of 1.212 billion yuan in 2022), Double Coin ranked 328 (revenue of 38.937 billion yuan and net profit of 1.281 billion yuan in 2022), and Chuanhua Zhilian ranked 344 (revenue of 36.998 billion yuan and net profit of 745 million yuan in 2022), Dongfang Yuhong ranks 399th (with a revenue of 31.214 billion yuan and a net profit of 2.120 billion yuan in 2022), while Longbai Group ranks 493rd (with a revenue of 24.155 billion yuan and a net profit of 3.419 billion yuan in 2022).

The minimum threshold for the top 500 Chinese listed companies in 2023 is an annual revenue of 23.7 billion yuan. Listed companies specializing in coatings have not been listed. Six companies with coatings business are listed, but coatings are not their main business.

The total operating revenue of the 500 listed Chinese companies reached 65.8 trillion yuan, with a net profit of 4.7 trillion yuan. Energy, banking, Internet, games, transportation, mining, insurance, real estate, wine and other giants account for more than half of the total. Automobile enterprises in the manufacturing industry have sprung up. Not only the old and powerful brands BYD, FAW, Geely, Great Wall, and BAIC remain on the list, but also the three new power automobile enterprises of new energy vehicles Weilai Group, Li Auto, and XPeng have entered the list.

Among the top ten loss-making companies, there are five real estate companies. After the epidemic, the real estate industry is still undergoing deep recovery, and it is difficult to see a significant improvement in the short term.

In recent years, the significant decline in the real estate industry has had a significant impact on the upstream paint industry. In recent years, the growth mode of China's economy is gradually leaving the mode of high dependence on real estate and infrastructure, and the domestic economy is transforming to multiple modes such as real estate, infrastructure, green economy and digital economy.

As a "pillar industry", the real estate industry is still struggling to recover, and it is expected to take about five years to basically recover to pre epidemic levels.

The paint industry is also actively following the trend, embracing changes, gradually breaking away from its high dependence on real estate and infrastructure, reducing the proportion of engineering business in revenue, and increasing the proportion of retail business. The entire paint industry is rapidly transitioning towards green, low-carbon, digital marketing, and other directions. Green and environmental protection has become the most basic requirement for enterprises to develop new products. Active marketing through the use of networks and digital tools has become popular in industries such as art coatings and imitation stone paint, becoming a standard for enterprises to explore the market, and its driving effect on performance is becoming increasingly significant.