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10 Wenzhou Enterprises on the list of “Top 100 Private Enterprises in Zhejiang”
Date:2021-09-30 09:25:51 Source:Wenzhou·China Fonts:[ Large Medium Small ]

Zhejiang Provincial Administration for Market Regulation and Zhejiang Provincial Federation of Industry and Commerce recently jointly announced the list of “Top 100 Private Enterprises in Zhejiang Province in 2021”, and ten Wenzhou enterprises are on the list, including Tsingshan Holding Group Co., Ltd., Duofu Holding Group Co., Ltd. and Vanyang Group Co., Ltd. etc., outnumbering any other city in the province.

Tsingshan Holding Group ranked third from the list, and Duofu Holding Group Co., Ltd. ranked sixth when it was named to the list for the first time. The rankings of the other eight enterprises were almost the same as last year, except for Vanyang Group Co., Ltd., which ranked on the list for the first time.

In terms of total revenue, the total revenue of these enterprises reached 823.34 billion yuan, an increase of 12.03% over last year. The annual net profit was 34.23 billion yuan, an increase of 29.41% over last year.

According to the Wenzhou Municipal Administration for Market Regulation, the past few years have witnessed the substantial and steady development as well as diversified operations of these listed enterprises. On the whole, they showed a trend of significant growth in total operating income, continuous and steady increase in total assets, net profit growth, average asset profit rate and income profit rate.

The data shows that although the in-depth transformation inevitably influences some industries and enterprises due to the comprehensive impact of the epidemic and various factors, these enterprises, as industry leaders, are fully prepared to face the challenges. In 2021, these enterprises have resumed production and operation under strict epidemic prevention and control and have shown vigorous growth and momentum in their industries.

For the leading enterprise, Tsingshan Holding Group Co., Ltd., which ranked third for the first time in 2017, continued to improve and deepen its industrial chain, upgraded its competitive advantage, and increased its sales revenue by 11.53%. It maintained strong development momentum and became the prime example of Wenzhou enterprises.

For Micro and Small Enterprises (MSEs) and large enterprises, after the financial crisis challenges, Wenzhou has been working on a stable and transparent business environment for entrepreneurship and innovation, and actively developed specialized micro and small enterprises as well as successful large enterprises. The sales revenue of all the ten private enterprises on the list grew last year. Two of them increased by more than 20%, namely Vanyang Group Co., Ltd. (182.45%) and Zhiyuan Holding Group Co., Ltd. (25.57%).

For innovation-driven development, the increasing investment on the innovation leads to a new era of enterprise development. The total investment in R&D and technological transformation of the listed enterprises in 2020 is nearly 8 billion yuan, an increase of 15.26% over last year.

However, when it comes to the location of these enterprises, the uneven distribution of large private enterprises has remained unchanged. Most enterprises are concentrated in the surrounding areas of downtown Wenzhou. Yueqing County boasts the most enterprises on the list and shows prominent industry features. In recent years, Yueqing has insisted on leading the high-quality development of the electrical industry with new concepts, technologies, and energy, creating a cluster innovation ecology, shaping the core advantages of the cluster, and promoting the transformation and upgrading of a 100 billion-level electrical industry cluster to a world-class smart electrical industry cluster. In the first half of 2021, Yueqing Electric Industrial Cluster, as the only county-led industrial cluster across the country, was honored as the national advanced manufacturing cluster.

List of 10 shortlisted enterprises

Tsingshan Holding Group Co., Ltd., Duofu Holding Group Co., Ltd., Chint Group Co., Ltd., Delixi Group Co., Ltd., People Electric Appliance Group Co., Ltd., Semir Group Co., Ltd., Vanyang Group Co., Ltd., Zhiyuan Holdings Group Co., Ltd., Aokang Group Co., Ltd., Zhejiang Renben Industrial Co., Ltd.

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