The Chinese version of Fortune magazine announced its ranking of the top 500 Chinese companies for 2016 on 13 July (Beijing time). Listed companies Hiteker (600122.SH) and Nanjing Cenbest (600682.SH) of Sanpower Group are included among the Top 500 Companies, ranking 283th and 335th respectively. It is understood that the list covers all Chinese companies listed in China and overseas, with all data taken from formally disclosed information by the listed companies on different stock exchanges.

The threshold of joining Fortune China 500 is increasing each year, with a company’s annual revenue needing to exceed RMB 9,608 million this year. The total revenue for the 500 listed enterprises was about RMB 30,770 billion, with a year-on-year increase of 1.2%. Net profit for all companies reached RMB 2,740 billion, with a year-on-year increase of about 1.5%. However, growth in both revenue and profit has notably decreased compared to last year (5% and 6% respectively).

The CICC Wealth Research Analyst’s review of the Fortune China 500 points out that company transformation is one of the industry trends of the new normal reflected in the list. Sanpower’s listed companies Hiteker and Nanjing Cenbest have been striving to transform and upgrade their businesses in recent years and both of them are represented in the Fortune China 500 on the basis of their strong performance.

Of the two, Hiteker’s strategic transformation focusing on “novelty, high-tech and the Internet” is still going on. Hiteker will continue innovating in terms of products, technology, and business and management models, adopting a “core business+ financial investment” development model. The company is orienting its main business around “broad consumption and broad finance” and is aiming to achieve synergy in innovation and development between different business modules as 3C retailing business, finance, culture, science and technology, and manufacturing.