2021 Top 100 Private Petroleum and Chemical Companies

On December 28, 2021 Petroleum and Chemical Industry Top 100 Private Enterprises Sales Revenue Sorting Conference was held online, Hengli Group, Zhejiang Rongsheng Holding Group, Zhejiang Hengyi Group were among the top three private enterprises with revenue of 695.335 billion yuan, 308.6 billion yuan and 266.076 billion yuan.

Li Shousheng, president of the China Petroleum and Chemical Industry Federation, pointed out in his speech that the top 100 enterprises, as advanced representatives of private enterprises, have further accentuated their status in the industry and played the role of "leaders" of private enterprises. Statistics show that in 2020, the top 100 private enterprises had a business income of 3 trillion yuan, accounting for 27.1% of the industry's business income of 11.08 trillion yuan; total profits of 147.9 billion yuan, accounting for 28.7% of the industry's total profits of 5155.55 billion yuan. Among them, the top 100 enterprises in the petrochemical category revenue of 2.68 trillion yuan, an increase of 2.8%; total profit of 147.9 billion yuan, an increase of 4.1 billion yuan over the previous year, an increase of 2.9%.

Li Shousheng talked about the analysis of the data shows that the asset profitability of the top 100 private enterprises in 2020 is significantly higher than the industry average, and the asset profitability is also significantly better than the industry average. Not only economic benefits continue to improve, high-quality development has also taken new steps. Top 100 enterprises actively promote the implementation of technological transformation projects, the year there are 43 enterprises have major projects put into production, 25 enterprises to obtain a major technological breakthrough; there are a number of enterprises to increase investment in new materials, energy saving and environmental protection and green low-carbon and new energy industries and the integration of industry, academia, research and use.

"Today's industry development has entered a new stage of self-sustaining independent innovation and cross-border collaborative innovation, 2022, private enterprises must implement the innovation-driven development strategy, and constantly increase the development of the domestic market, strengthen the future-oriented technological innovation, accelerate the change to a green low-carbon development approach, and focus on cultivating 'specialized and special new ' small and medium-sized enterprises, vigorously promote the entrepreneurial spirit, and promote high-quality development to a new level." Li Shousheng stressed.

Wang Jingmin, Secretary General of the Working Committee on Small and Medium Enterprises of the Petroleum and Chemical Federation, gave an analysis of the Top 100. The report pointed out that the comprehensive strength of the top 100 enterprises has improved significantly in the past two years, not only the enterprise petrochemical revenue and profits have increased year-on-year, the number of employees has also increased year-on-year. There are also 18 top 100 petrochemical enterprises on the list of Top 500 Chinese Enterprises 2021; there are 28 top 100 petrochemical enterprises on the list of Top 500 Chinese Private Enterprises 2021, among which Hengli Group is among the top three.

Wang Jingmin said that in the past five years, the total profit of the top 100 enterprises has continued to grow steadily, compared with the profit level of the whole industry, the top 100 enterprises have shown a steady growth trend, and the concentration of the industry has gradually increased. The total revenue of the top 10 petrochemical enterprises was RMB 1.59 trillion, accounting for 59.3% of the total petrochemical revenue of the top 100 enterprises; the R&D investment of the top 10 enterprises was RMB 9.9 billion, accounting for 31% of the total R&D investment of the top 100 enterprises.

In addition, 15 of the top 100 enterprises were recognised by the Ministry of Industry and Information Technology (MIIT) as "Green Manufacturing" demonstration enterprises and six were recognised by MIIT as national technology innovation demonstration enterprises. Ninety-one per cent of the Top 100 enterprises have already laid out strategic emerging industries, with most of them focusing on new materials, energy conservation and environmental protection and new energy industries.

To support the development of SMEs, Lian Li, a second-level inspector of the Small and Medium Enterprises Bureau of the Ministry of Industry and Information Technology, said that a total of 4,762 national "small giant" enterprises have been cultivated in three batches, leading to the cultivation of 40,000 provincial-level specialized and new SMEs. "The goal of the 14th Five-Year Plan is to support SMEs to become a source of innovation and to improve the gradient cultivation system for innovative SMEs; secondly, to develop one million innovative SMEs, 100,000 provincial-level specialized and new enterprises, 10,000 national specialized and new "small giants" enterprises, and 1,000 single manufacturing enterprises. The second is to develop one million innovative SMEs, 100,000 provincial-level specialized and new enterprises, 10,000 national specialized and new "small giant" enterprises and 1,000 manufacturing single champion enterprises. A vibrant industrial ecology will be built through digital empowerment, integration of innovation among large, medium and small enterprises, and collaborative innovation among industry, academia, research and industry chains.

Zhu Jianmin, Vice Chairman of the China Civil Chamber of Commerce and Chairman of the Board of Directors of the Top 100 companies, pointed out that the "double carbon" target is a challenge and an opportunity for petroleum and chemical entrepreneurs. The "double carbon" target accelerates the energy use of hydrogen resources in petroleum and chemical industries, which will lead to more crude oil being used for the production of chemical raw materials, accelerate technological innovation and the elimination of winners and losers in petroleum and chemical enterprises, and accelerate the development of technology and industrial development for the use of carbon dioxide resources. The Central Economic Work Conference this year made more scientific and reasonable requirements and arrangements for the correct understanding and grasp of carbon peaking and carbon neutrality, proposing not to engage in "campaign-style" "one-size-fits-all" carbon reduction, and "to achieve energy consumption as early as possible". This series of policy adjustments and introduction is precisely the result of the policy's efforts to achieve a 'double control' on carbon emissions. This series of policy adjustments and introductions are exactly what entrepreneurs are looking forward to.

Wu Fu, Vice President of the China Petroleum and Chemical Industry Federation, chaired the meeting and gave a concluding speech. Wei Naixin, Director of China Chemical Industry Economic and Technology Development Center, read out the list of "Top 100 Chinese Petroleum and Chemical Industry Private Enterprises in 2021 and the list of 2021 National Petroleum and Chemical Industry SME Public Demonstration Platform". (Article reproduced/sourced from: China Plastics Online/China Chemical News)

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