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Sinochem Group has entered the Fortune Global 500 List for the 30th Time

Date:2020-08-11 Source:Sinochem Group

On August 10, 2020, the Fortune magazine announced the 2020 List of Fortune Global 500. As one of the first Chinese enterprises in such list, Sinochem Group has entered the list for the 30th time, with the latest ranking of the 109th place.

In 2019, Sinochem Group echoed with the major decisions and arrangements of the CPC Central Committee and the State Council on the reform and development of state-owned enterprises, upheld new development philosophy, complied with the requirements for high-quality development and supply-side structural reform, adopted multiple measures and achieved remarkable results, thus set new highs in business performance. Throughout the whole year, Sinochem Group realized operating income of RMB555.3 billion, which maintained overall stability. Profitability increased significantly with total profit and net profit standing at RMB18.4 billion and RMB13.3 billion, up by 15% and 36% year on year, respectively. Return on assets realized a steady rise, while asset-liability ratio further declined.

As a central SOE shouldering strategic mission in the integrated chemical industry, Sinochem Group spares no effort for strategic goal of developing into a world-class chemical conglomerate, adheres to the core value of “In Science We Trust, Upon Knowledge We Act”, constantly launches reform and innovation, puts in place the model of “Four Elements of Corporate Value Management”, implements comprehensive benchmarking in a thorough manner, and pushes forward strategic transformation and development towards new highs.