Haier Leads Chinese Electronic Information Firms in Operating Revenues
Jun 23, 2005
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Haier Group, China's largest maker of home appliances, topped a new list of the 100 Chinese electronics information enterprises with the largest operating revenues compiled by the Ministry of Information Industry (MII).
Haier Group recorded RMB 101.6 billon (approx. U.S. $2.3 billion) in operating revenues during 2004, ranking it the top electronics information company in China by operating revenues for the third year in a row.
BOE Technology Group Co., Ltd was ranked second with 2004 operating revenues of RMB 45.1 billon (approx. $5.46 billon). TCL Corporation was ranked third with operating revenues of and RMB 42.1 billion (approx. $5.1 billion).
Combined operating revenues for China's top 100 electronics information enterprises in 2004 totaled RMB 815.8 billion (approx. $98.8 billion), increasing 23 percent year-on-year over the RMB 152.7 billion (approx. $18.5 billion) in operating revenues recorded in 2003. Total taxes collected from these top 100 firms hit RMB 27 billion (approx. $3.3 billion) in 2004, up 17 percent year-on-year.
The lowest amount of 2004 operating revenues included on the new top 100 list was RMB 1.17 billion (approx. $0.14 billion), as compared to RMB 1.04 billion (approx. $0.13 billion) in operating revenues for the previous list.
Seven of the companies included on the new list reported more than RMB 30 billion (approx. $3.6 billion) in operating revenues last year. In addition, 22 companies recorded 2004 operating revenues of more than RMB 10 billion (approx. $1.2 billion).
Of the top 10 Chinese electronics information companies on this list, eight reported double digital year-on-year increases in operating revenues during 2004. In particular, BOE Technology Group Co., Ltd, TCL Corporation, and Guangdong Midea Group Co., Ltd recorded more than 50 percent year-on-year increases in 2004 operating revenues.
Of the top 100 companies, 48 were state-owned, 52 were private-owned or joint ventures, and 67 were publicly listed.
Total R&D investment by the top 100 electronic information companies totaled RMB 31.1 billion (approx. $0.38 billion), up 16.9 percent year-on-year. R&D investments accounted for 3.8 percent of total operating revenues, 0.7 percentage points higher than the overall average for China's electronics information industry. Huawei and ZTE invested more than 10 percent of their operating revenues in R&D.
In 2004, the top 100 Chinese electronics and information companies exported RMB 185.4 billion (approx. $22.4 billion) worth of products, up 25 percent year-on-year. Eleven companies reported exports of more than RMB 5 billion (approx. $ 0.6 billion), including SVA, Shenzhen Huaqiang, Haier, TCL, Huawei, Midea, Panda, ZTE, Great Wall Computer, Huizhou Desay, and Huizhou Huayang. (INTERFAX-CHINA)
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