Zhuhai Gree Electric Appliances and Huafa Group are listed among the top 500 Chinese companies of 2020, the China Enterprise Confederation/China Enterprise Directors Association revealed on Sept 28.

The Chinese household appliance giant Gree is rated 107th with operating revenue of 200.5 billion yuan ($29.5 billion) -- down five spots from last year.

According to an Aug 30 financial report, Qianshan-based Gree produced 70.6 billion yuan ($10.4 billion) in revenue and 7.7 billion yuan ($1 billion) in profit in the first half of this year. 

Gree Electric Appliances in Qianshan [Photo courtesy gree.com]

During the period, Gree promoted live streams online to expand retail sales channels while tapping into communication devices. Gree accelerated R&D of 5G Internet of Things (IoT) microprocessors and "smart" home chips.

In the high-end equipment sector, Gree has developed key technologies in industrial robots, numerical control machine tools, intelligent logistics and warehousing, intelligent detection, and automated integration. The company was named a Guangdong Backbone Enterprise in Robotics and Guangdong Advantageous Enterprise in Intellectual Property Rights.

The largest Stated-owned enterprise in Zhuhai, Huafa is rated 259th with operating revenue of 79.27 billion yuan ($11.7 billion), 225 rungs higher than when it first made the list in 2016.

Founded in 1980, Huafa has a business portfolio of urban operation, real estate development, financial industry, industrial investment, commence and trade, and modern services. All six operations rank among the top 50 in the country in their respective industries.

Headquartered in Nanping Town of Xiangzhou District, Huafa's regional layout encompasses more than 70 domestic cities such as Beijing, Shanghai, Guangzhou, Shenzhen, and Wuhan, plus Hong Kong and Macao. Business even extends to the US (Los Angeles) and Israel (Tel Aviv). Total assets exceeded 420 billion yuan ($61.7 billion) in the second quarter of this year.