The Guangdong Provincial Enterprise Confederation and Provincial Entrepreneurs Association released the 2024 top 500 enterprises list in Guangdong recently. Two companies from Maoming have secured their places on this prestigious list.

Guangdong Xinhuayue Group has been ranked 314th. The company is a high-tech enterprise specializing in deep processing of petrochemical products. With an annual capacity of 1.86 million metric tons, it produces various chemicals, including styrene, petroleum resins, and antioxidants. The company emphasizes technological innovation, holding numerous patents and awards.

Maoming Petrochemical Shihua has achieved a ranking of 386th. The company's strategic objective is to establish a nationally recognized chemical enterprise group, leveraging its resource and technological advantages and integrating industry, investment, and trade to enhance its scale and industrial capabilities continually. 

The top 500 enterprises are ranked based on their operating revenue. As per the report, the collective operating revenue of the top 500 enterprises amounted to 18.73 trillion yuan ($2.64 trillion), marking a 0.37 percent increase from the previous year. The average revenue of the top 100 enterprises stood at 151.05 billion yuan, indicating a 1.08 percent year-on-year growth. The net profit of the top 500 enterprises totaled 1.17 trillion yuan, representing a 6.84 percent increase, marking a reversal of the two-year trend of declining profits.

Guangdong Xinhuayue Group in Maoming. [Photo/Xinhuayue Group]