JD Tops 500 Private Chinese Enterprises List, Surpasses Alibaba

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  • The All-China Federation of Industry and Commerce (ACFIC) released the 2022 top 500 private Chinese enterprises list, Global Times reports.
  • Internet and service company JD.com, Inc JD topped the list with 951.59 billion yuan ($136.46 billion) of revenue in 2021. 
  • JD.com reported second-quarter FY22 revenue growth of 5.4% year-on-year to $40 billion, beating the consensus of $38.63 billion.
  • Alibaba Group Holding Limited BABA and energy enterprise Hengli Group bagged the second and third positions. 
  • Also Read: US Selects JD.com, Baidu, NetEase, Yum China After Alibaba For Audit Inspection
  • Alibaba reported first-quarter FY22 flat revenue growth year-on-year to $30.69 billion, beating the consensus of $30.05 billion.
  • Huawei Technologies Co., Ltd came fifth with 636.807 billion yuan of revenue in 2021. 
  • Tech giant Tencent Holding Ltd TCEHY ranked sixth, and property developer Country Garden ranked seventh. 
  • Manufacturing enterprises ruled the list, holding 301 places. 
  • The overall revenue of the top 500 private enterprises in 2021 hit 38.32 trillion yuan, up 9.13%, year-on-year.
  • The tax value paid hit 1.37 trillion yuan, accounting for 7.91% of the overall tax volume.
  • In foreign trade, Chinese private enterprises coughed up 50.1% of overall foreign trade volume.
  • Price Action: JD shares traded higher by 0.27% at $59.51 premarket on the last check Wednesday.
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