Geely pays the most taxes, and among the top 500 private enterprises in China, JD.com, Alibaba, and Hengli rank in the top three

On September 12th, the All China Federation of Industry and Commerce released the "2023 Top 500 Private Enterprises in China" list and the "2023 Top 500 Private Enterprises in China Research and Analysis Report.". JD Group, Alibaba Co., Ltd., and Hengli Group Co., Ltd. rank in the top three on the list.

Screenshot of research and analysis report

This year is the 25th consecutive survey of large-scale private enterprises organized by the All China Federation of Industry and Commerce, with a total of 8961 enterprises with annual revenue of over 500 million yuan participating.

The entry threshold for the top 500 private enterprises reached 27.578 billion yuan, an increase of 1.211 billion yuan from the previous year; The entry threshold for the top 500 private manufacturing enterprises reached 14.516 billion yuan, an increase of 1.944 billion yuan from the previous year; The entry threshold for the top 100 private enterprises in the service industry reached 31.404 billion yuan, an increase of 1.289 billion yuan from the previous year.

There are 17 Fortune 500 companies with operating revenue exceeding 300 billion yuan, of which 8 companies have operating revenue exceeding 500 billion yuan. JD Group has ranked first on the top 500 private enterprises list for two consecutive years with a revenue of 1046.236 billion yuan, and first on the top 100 private enterprises list in the service industry for three consecutive years; Hengli Group Co., Ltd. has ranked first among the top 500 private manufacturing enterprises for two consecutive years.

There are 86 enterprises with total assets exceeding 100 billion yuan, of which 11 have total assets exceeding 500 billion yuan. A total of 28 private enterprises from the Fortune Global 500 have been shortlisted.

From the perspective of business performance, the report shows that the total operating revenue of the top 500 private enterprises is 39.83 trillion yuan, an increase of 3.94%. The total assets reached 46.31 trillion yuan, an increase of 11.21%. After tax net profit was 1.64 trillion yuan, a decrease of 4.86%.

The sales net profit margin, asset net profit margin, and return on equity of the top 500 private enterprises were 4.13%, 3.67%, and 10.81%, respectively. The per capita operating income and net profit were 3.6304 million yuan and 149800 yuan, respectively, and the total asset turnover rate was 88.86%.

From the perspective of tax contribution, the total tax payment of the three private enterprises exceeds 40 billion yuan. Among them, Zhejiang Geely ranks first on the top 500 private enterprises with a tax payment of 47.362 billion yuan, followed closely by Zhejiang Rongsheng with a tax payment of 41.223 billion yuan. Tencent, with a total tax payment of 40.612 billion yuan, ranks third on the total tax payment list for residential enterprises, marking its second consecutive time as the top taxpayer for private technology enterprises.

The Internet and related services industry is an emerging technology industry with the highest tax contribution. Among them, Tencent once again ranked first in the Internet industry with an annual tax payment of 40.6 billion yuan. Ant Technology and Meituan followed closely, with tax payments of 22.341 billion yuan and 18.5 billion yuan respectively in 2022.

It is worth noting that the report also mentioned that due to multiple unexpected factors at home and abroad, there are still some issues worth paying attention to in the top 500 private enterprises. Some operating indicators have fluctuated. The net profit after tax, net profit margin on sales, net profit margin on assets, and return on equity of the Fortune 500 companies have decreased to varying degrees; The operating efficiency of some industries has slightly declined, but the loss situation has improved.

Mergers and acquisitions, as well as international operations, are becoming more cautious. The number of domestic and foreign mergers and acquisitions has decreased compared to the previous year; The growth rate of total exports has significantly declined; The number of overseas investment enterprises and overseas investment projects has decreased to a certain extent. The problems of rising costs and sluggish demand still exist. There are 338, 314, and 301 Fortune 500 companies that believe in high raw material costs, rising labor costs, and insufficient domestic market demand.