18 Ningbo companies make top 100 Zhejiang enterprise list

Eighteen companies from Ningbo made the 2022 list of the top 100 Zhejiang private enterprises. The number, which is the same as the previous year, is the second highest in Zhejiang.

Jointly released by the Zhejiang Provincial Bureau of Market Bureau and the Zhejiang Federation of Industry and Commerce, the ranking was made primarily based on companies' revenue, tax payment, net profit and credit information in 2021.

The 18 listed companies from Ningbo are mainly engaged in sectors including manufacturing (12), wholesale and retail (4), investment and asset management (1), and construction (1).

Their combined revenue amounted to 942.93 billion yuan ($145.07 billion), up 17.72 percent year-on-year.

Among them, fashion brand Youngor ranked ninth on the list with 143.94 billion yuan in revenue - the highest ranked company from Ningbo. It was followed by Ningbo Jintian Copper (Group) Co Ltd (11th), China-Base Ningbo Group Co Ltd (13th) and Grand Resources Group Co Ltd (17th).

Of the 18 companies from Ningbo, 14 reported a positive increase in net profit last year and seven posted year-on-year net profit growth of more than 30 percent.

In addition, fourteen enterprises among them increased their R&D expenditure in 2021, and five increased their R&D spending by more than 50 percent.

Eleven companies have a business presence overseas, with their combined investment overseas in 2021 increasing by $22.09 million when compared with the previous year.