In 2019, facing the complex and severe macroeconomic situation with superimposed contradictions, the steel conduit industry is intensified in competition, with declining profits and even losses. Chenxing company regards strengthening basic management and accelerating the pace of innovation as necessary means for enterprises to quickly respond to market dynamics. The company is market-oriented, constantly adjusting its product structure, increasing the production ratio of high value-added and high-end products, and shifting to the idea of ”high-end positioning and production of first-class products”.
More than 6 product structure adjustments were completed throughout the year. A series of new products such as BS4568 steel conduit, IEC 61386 steel conduit, and IMC steel conduit were successfully introduced to the market and won a good social brand effect. At the same time, the company actively enters the financial field to build a new pattern of diversified development. Through the establishment of financial leasing companies, financial companies, and equity participation in Internet finance companies, new profit growth points have been opened up.
It is understood that the coverage of this ranking includes all Chinese companies listed within and outside China, and the data is based on the official disclosure of information by listed companies on various stock exchanges. The total revenue of the 500 companies on the list reached 2.45 trillion yuan, an increase of 2.3% from last year, and it has been nearly 4% of China’s GDP; the annual income threshold for the list has also risen to 2.5 billion yuan. The profits of all companies on the list reached 2.7 trillion yuan, an increase of 4% over last year.
Compared with last year, this year’s list clearly reflects the rapid development of emerging industries represented by Internet + services and media culture. From the perspective of revenue growth, the average revenue growth of the Internet + service companies on the top 500 list this time is nearly 40%, far exceeding the overall revenue growth of the list in the same period. Although there has been a “shift” in macroeconomic growth and some traditional industries are under pressure, the overall economic structure and growth quality have indeed improved, and emerging industries are achieving rapid development with their unique competitiveness.
Chenxing Company is a large enterprise company with steel coil, steel sheet, gi conduit, and galvanised steel pipe as its main business. It is the only listed company in the country with three stocks of A, B and H. It owns Wuhan Chenxing, Jiangxi Chenxing, Jilin Chenxing, and Zhanjiang Chenxing. Waiting for more than 10 production subsidiaries. The company’s total assets are more than 245 million yuan, and its annual steel production capacity is 62,500 tons. The main indicators of corporate economic efficiency have maintained a leading position in the same industry across the country for 18 consecutive years. It has entered the top 500 Chinese companies and the world’s top 10 paper companies. A strong enterprise and one of the 50 most competitive blue chip companies in China.
At present, the group has a national-level technology center, post-doctoral research workstations and a number of world-class steel pipe production lines. Its leading products are steel coil, steel sheet, galvanised conduit, square pipe, round steel pipe, etc., of which 3 products have been rated “National Excellent Product”, “Chenxing” trademark has been recognized as a well-known trademark in China, and the products are exported to more than 50 countries and regions. It is the first in the industry to pass ISO9001 quality system certification, ISO14001 environmental protection system certification and FSC-COC system certification. It has successively won the National May 1st Labor Certificate, the National Top Ten Enterprises in Light Industry, the Outstanding Contribution Award for Chinese Enterprise Management, and the National Advanced Unit for Spiritual Civilization Construction. There are more than 160 honorary titles above the provincial level.