Fortune China magazine has released its 2025 Fortune China 500 – a list of the nation’s top companies. The enterprises on this year’s list, which is based on companies’ balance sheets for the past fiscal year, generated a total of US$14.2 trillion in revenues.
Companies on the list also generated an estimated three-quarters of China’s total annual GDP. Total profits were US$756.4 billion, representing a 7 percent increase compared to the year before.
Topping the list this year is the State Grid, China’s state-owned electric utility corporation, at US$548,414.4 million. The other top spots were taken by China National Petroleum at US$412,645.3 million and the Sinopec Group, China’s national oil and gas enterprise, at US$407,490.1 million.
[See more: 22 Greater Bay Area firms make Fortune Global 500]
The highest-ranking non-state-owned enterprise was Hon Hai Precision Industry Co., the world’s largest electronics contract manufacturer that also goes by the name Foxconn.
Electric vehicle (EV) company BYD (an abbreviation of its Chinese pinyin name, Bǐyàdí) jumped the most spots, going from 40 to 27. Last June, the company overtook Tesla to become the most profitable EV company on the market.
According to Fortune China, profits were calculated after taxes and unusual one-time gains or losses, but before dividends paid to preferred shareholders.
