Evergrande Listed as a Fortune 500 Company

2016-07-20 20:39 3011

HONG KONG, July 20, 2016 /PRNewswire/ -- On July 20, Fortune announced the list of the world's top 500 companies. For the first time, Evergrande (HK.3333) was included into the list with an operating revenue of USD211.84 billion (equivalent to RMB1331.3 billion). In the list of China's top 500 companies released on July 13, Evergrande secured the position of top 50 companies, ranked 43rd. An original report from Sina Leju follows:

"Both the lists are authoritative. In particular, the List of Fortune 500 Companies has long been recognized as the most compelling list of measuring the comprehensive strength of the world's large companies, which is very influential. This time, Evergrande was included into the List of Fortune 500 Companies. Thus, the international reputation of Evergrande will be further expanded," said an industry observer.

The ranking of the List of Fortune 500 Companies are mainly based on the operating revenue. Sinopec, PetroChina, State Grid and other large state-owned enterprises were successively ranked at the forefront of the List. Operating income has always been regarded as an important indicator for evaluating the growth situation and development capability of an enterprise. Higher average growth rate indicates better sustainable growth trend of an enterprise. Evergrande is one of the only 10 private enterprises in China, and is also the only private enterprise in the world's real estate industry which only used 20 years to enter the List of Fortune 500 Companies.

In 2015, the operating revenue of Evergrande was RMB133.13 billion, more than 20 times that of RMB5.72 billion in 2009 when it was listed, with an average growth rate of about 30%, far higher than the industry average level. Evergrande's total assets, sales volume, net profit and other business indicators have also increased substantially. Since Evergrande was listed, the compound annual growth rate of its total assets is 52%, and the compound annual growth rate of its net profit is 57.9%.

Data show that Evergrande began to put forward the strategy of going global in 2006. And then, Evergrande quickly introduced a number of international investors and was listed in Hong Kong. In recent years, Evergrande has been deepening its internationalization strategy. Harvard University, UK BRE and other international institutions successively cooperated with Evergrande. As this time it was included into the List of Fortune 500 Companies, Evergrande's internationalization strategy will be further accelerated.

Source: Sina Leju