Three Ningbo enterprises make Hurun's top 100 list

chinadaily.com.cn| Updated:  March 24, 2021 L M S

Three companies from Ningbo, East China's Zhejiang province have been listed among the top 100 private consumer goods companies in China, according to a report released by Hurun.

The companies are civil electrical brand Bull, fashion brand Peacebird and home appliance brand Fotile. They were ranked 23rd, 86th and 91st respectively.

Ningbo was ranked second in the province only after Hangzhou in terms of the number of listed enterprises, and seventh nationwide.

The latest financial report released by Peacebird showed that the company's business revenue surged 14.24 percent year-on-year to 9.057 billion yuan ($1.39 billion) in 2020, while its profits climbed 30.88 percent to 930 million yuan.

The threshold for a company to enter the list is set at 14 billion yuan in market valuation, and the aggregate value of the listed enterprises amounted to 9.86 trillion yuan.

In terms of geographical location, companies from Guangdong province take up more than one third of the list (36), followed by Zhejiang (12) and Shanghai (11). 

China's telecommunications giant Huawei was listed as the most valuable consumer goods company in China. The company was valued at 1.1 trillion yuan, based on the company's market valuation ending on March 9, 2021.

Following Huawei are Midea, China's house appliances manufacturer, with a valuation of around 580 billion yuan, and Haitian Flavouring Company, a condiment company. China's new energy vehicle maker BYD was ranked fourth with a valuation of 490 billion yuan.

More than half of the top 100 companies in the list operate within the mobile phone, auto and home appliances sectors.