On August 2nd, the official app of Fortune released the latest Fortune Global 500 list. Shougang Group ranked 410th with revenue of USD 36,852.7 million. This is the 12th time that the Shougang Group has been listed in the Fortune Global 500 since its first entry in 2011.

The year of 2022 was an extraordinary year in the history of Shougang. Adhering to the main task of laying a solid foundation for high-quality development, the Shougang Group withstood the severe impacts of the pandemic and resisted the tremendous pressure brought by the unexpected downward trend of the market. In its arduous production, operation and construction, the Shougang Group overcame all obstacles. On the basis of making a good start to the 14th Five-year Plan in 2021, Shougang achieved better business performance in 2022, showing strong business resilience, outperforming the general trend of the industry and gradually establishing a comparative competitive advantage. Over the past year, the Group made concerted efforts to complete the task of supporting the Winter Olympics. The CPC Central Committee and State Council awarded the Shougang Group the title of “Collective with Outstanding Contributions to the Beijing Olympics and Paralympic Winter Games”. The iron and steel sector, as its main business, has made important contributions to stabilizing the Group’s production and operation. More than 60,000 employees moved into the factory to “fight the pandemic and ensure production”. With their tenacity and hard work, they fully ensured smooth and stable production, and the health and safety of employees. New progress was made in the investment and operation of Shougang Park, and the charm of the old industrial zone was continuously unleashed, further expanding its influence. The development of new industries progressed steadily, and the integration of industry and finance was deepened. Moreover, all tasks of the three-year reform of state-owned enterprises were completed in an all-round way, and tangible results were achieved.

This year, the combined revenue of Fortune Global 500 companies was approximately USD 41 trillion, an increase of 8.4% over the previous year. The threshold for making the list (minimum sales revenue) also jumped from USD 28.6 billion to USD 30.9 billion. However, due to the global economic downturn, the combined net profit of all listed companies this year decreased by 6.5% year-on-year to approximately USD 2.9 trillion. With 142 companies on the list, China continues to lead the world in the number of large companies.

In addition, this year’s Fortune China 500 list is open for application, using a ranking method that is in line with the Fortune Global 500, including both listed and unlisted enterprises. The Shougang Group ranked 114th in the 2023 Fortune China 500 list released by Fortune Plus APP on July 25th.