Aug. 25 - The press conference for China’s Top 500 Private Enterprises 2015, which was sponsored by All-China Federation of Industry and Commerce (ACFIC), was held in Beijing. Wang Qinmin, Vice Chairman of the CPPCC and Chairman of ACFIC, attended the conference and announced the lists of China’s Top 500 Private Enterprises, China’s Top 500 Private Manufacture Enterprises, and China’s Top 500 Private Service Enterprises 2015. Sanpower Group ranks 21st among China’s Top 500 Private Enterprises 2015, up 6 compared with the previous year, and ranks 9th among China’s Private Service Enterprises, which levelled out with last year’s ranking.

As is disclosed by “Report of China’s Top 500 Private Enterprises 2015” released in the conference, 2014 has seen the sluggish recovery of global economy, when the threshold for acceptance into the list of China’s Top 500 Private Enterprises was further elevated. Although the total assets of companies continued to accrue, the gross revenue growth has slowed down with declining profitability. Under the new economic normal, the top 500 private enterprises take the initiative to implement the national development strategy and accelerate the pace of turnaround and upgrade, which has played a positive role in maintaining growth, adjusting economic structure and benefiting people’s livelihood.

As an outstanding representative of private enterprises in Jiangsu Province, Sanpower Group keeps innovating and turning around in recent years. Following the national “One Belt, One Road” initiative and seizing the “Internet +” opportunity, the Group has integrated its online and offline retail resources through a series of M&A activities. On top of that, it has also acquired quite a few foreign enterprises, so as to introduce advanced products, technology, business models and management systems to enable its retail businesses to achieve “overtaking around the curve” (i.e., standing out from the industry), and meanwhile boost the turnaround and upgrade of China’s retail industry. Currently, Sanpower Group has successfully metamorphosed into a large modern conglomerate characterised by informatisation and focusing on modern service industry. It ranks 160th among this year’s China’s Top 500 Enterprises and 60th among China’s Top 500 Service Enterprises. On the list released in the press conference, it ranks 21st among China’s Top 500 Private Enterprises 2015, up six from the previous year, and stabilises at 9th among China’s Top 100 Private Service Enterprises.