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2 Anhui-based Firms Make Fortune Global 500 List

source:www.cnanhui.org release date:2019/07/23 hits:41

Companies based in East China’s Anhui province filled two places on the 2019 Global 500 list released by American business magazine Fortune on Monday.

Anhui Conch Cement Group Co.took the 441st place , with revenue of $28.5 billion, and Tongling Nonferrous Metals Group Co.earned $26.8 billion in revenue, ranking 461st .

It’s the first time that Anhui-based companies have ever made the list.

Established in 1996 and headquartered in Wuhu, Anhui Conch Cement Conch Group Co. is one of the largest building material suppliers in China. Its business spans cement manufacturing, international trade, chemical building material production, energy-efficient and environment-friendly new material production, engineering construction, and the modern service industry.

In 2018, Conch Group’s total assets were worth 192.0 billion yuan ($27.9 billion). Meanwhile, it recorded 188.5 billion yuan in operating revenue. The company reaped a profit of 39.84 billion yuan last year, achieving a profit growth of some 10 billion yuan for three consecutive years.

Founded in 1949 in Tongling, Tongling Nonferrous Metals Group Co. is the earliest copper industrial base in China and the cradle of China's copper industry. The company got 106.5 billion yuan of revenue in 2012, becoming the first enterprise in the province whose revenue exceeded 100 billion yuan.

In 2018, the company produced 1.32 million tonnes of cathode copper, one of its major products, ranking second in the country. It climbed to the 116th spot on the annual list of top 500 Chinese companies, with revenue of 177.1 billion yuan. It has grown into a conglomerate with the non-ferrous metal industry and the modern service industry as its main business.

With 129 Chinese businesses appearing on the latest Fortune Global 500 list, China has surpassed the US for the first time. There are 121 American companies in the annual rankings. (By Zheng Weiling)