“2017 Top 500 Chinese Private Enterprises”List Releases？Far East Holding Group Ranks the 163rd
On August 24, sponsored by All-China Federation of Industry and Commerce, the “2017 Top 500 Chinese Private Enterprises” press conference was held in Jinan, Shandong Province. Far East Holding Group Co., Ltd. (hereinafter referred to as “Far East Holding Group”) once again reelected, ranking the 163rd due to the revenue of RMB 32.722 billion. Jiang Xipei, Founder of Far East Holding Group， President of the Board and Secretary of Party Committee, Zhou Junwei, an investor, Senior Director of Far East Smarter Energy Co., Ltd. (hereinafter referred to as "Smarter Energy", stock code: 600869) and Assistant to the General Manager of Far East Cable Co., Ltd. (hereinafter referred to as “Far East Cable”), Zhao Bo, an investor, Deputy Marketing Director of Smarter Energy and Senior Marketing Director of Far East Cable and marketing managers of different areas attended the conference.
In 2016, the world economy and trade saw the lowest growth speed over seven years, and the domestic economy faced the increased downward pressure. In front of the various adverse environmental factors at home and abroad, the top 500 Chinese private enterprises stubbornly achieved “inverse growth” and the threshold for entering the list of top 500 is increasingly rising. In 2016, the top 500 Chinese private enterprises positively responded to the strategy of “addressing overcapacity, reducing inventory and deleverage”, actively participated in the national development strategy, and possessed a high enthusiasm to engage in the development strategy of civil-military integration, increased the strengthen to take part in the mixed ownership reform and invest in the PPP project, and significantly enhanced the independent innovation ability. The traditional industry and Internet accelerated the integration. Private enterprises learned and used laws, consistently improving their law-abiding consciousness.
As a member of Chinese private enterprises, since the foundation in 1985, Far East Holding Group has gone through 32 years. At present, the brand value reached RMB 35.268 billion and 11,000 employees were hired in the company. The group insists on the “main business + investment” strategy. The investments abroad repeated the success and the overall investment yielded a fruitful harvest. By July 31, 2017, the number of enterprises invested by the group reached 339, among which, 94 were listed companies (28 listed in the New Third Board), 1 approved for IPO and 12 preliminarily disclosed. The performance of the listed company of the group, Smarter Energy (stock code: 600869), particularly the revenue keeps a sustainable growth trend. In 2016, the revenue reached RMB 12.243 billion, saw a year-on-year growth of 4.54%. With the accelerated transformation and upgrading of the company, the major three businesses, namely, the dynamical system and energy storage equipment of new energy automobile, clear/new energy system and intelligent device contributed a profit rate of over 60%. In the recent three years, compound growth rate of net profit reached 24.32%, the revenue structure kept optimizing and the profitability continued to improve.
