hono Solar’s Parent Company Makes a Giant Leap in Global Fortune 5002014-07-09
The <Fortune> released the 2014 Fortune 500 list on July 7th. With $39.418 billion in operational revenue, China National Machinery Industry Corporation (hereinafter referred to as “SINOMACH”), the parent company of Phono Solar, ranked 278th - 48 places higher than in 2013.
SINOMACH’s excellent performance in 2013 has enabled them to climb the Fortune 500 ranking. Despite being faced with continued pressures from both the international economic situation and the domestic economic downturn, SINOMACH gained 232 billion RMB of operating revenue in 2013, with year-on-year growth of 8.3%, thus successfully bucking the trend.
The 2014 Fortune 500 threshold increased by $500 million, reaching $23.7 billion. The top three companies on the Fortune 500 list for 2014 are Wal-Mart, Shell and SINOPEC. Wal-Mart, the retail giant, ranked first with $476.3 billion revenue while Shell conceded its throne to Wal-Mart with $459.6 billion revenue. With $457.2 billion revenue, SINOPEC climbed one place to third compared to its ranking in 2013 - moving into the top three for the first time.
The total number of Chinese companies listed this year reached 100, showing that the growth momentum has remained. The rankings of private Chinese enterprises have also significantly risen. Additionally, seven new Chinese companies were listed in the Fortune 500 for the first time this year. Elsewhere, the number of American companies listed was 128, 4 less than the 132 listed in 2013.
Finally, it is worth noting that the number of Chinese companies listed in the Fortune 500 continues to rise. The average income and assets of Chinese companies are close to the average level of the Fortune 500 companies, but there remains a significant gap between the key data that reflects company competitiveness, namely the company profit and per capita profit, and those of the Fortune 500.
As a subsidiary that entered the new energy field underneath SINOMACH, Phono Solar keeps abreast of the market; taking full advantage of strong brand endorsement, team advantages and the financing capacity of SINOMACH. This allows Phono Solar to vigorously develop the market with sophisticated new energy solutions for residential/commercial/utility projects and power plants. The powerful rise of SINOMACH’s ranking in the Fortune 500 list will undoubtedly help Phono Solar further establish their “Stability, Reliability and Creativity” core brand values worldwide.