The most profitable companies in China, everyone knows China Tobacco and China's four major banks, but these are all state-owned enterprises, and they all make money from our people.
So, do you know what are the Chinese private enterprises that will make the most money from foreigners in 2023? Not Tencent, Alibaba, according to a previously announced ranking, we filtered out the central state-owned enterprises and selected the top 5, let's talk about it.
NO.1 Lenovo
Overseas revenue: 346.95 billion yuan
I can't believe it, the one who will make the most money from foreigners is Lenovo, there are a lot of controversies about Lenovo on the Internet, and it is difficult to distinguish between true and false, so I won't comment on those points.
Lenovo Group occupies a leading position in the global information technology field, and its revenue data shows that 73% of its revenue comes from overseas markets, which not only reflects the success of Lenovo's globalization strategy, but also shows the company's strong competitiveness and profitability in the international market.
In fact, in the PC industry, Lenovo has dominated the world for many years, and it has earned the most money from Americans.
To be able to do this, it is inseparable from two things, the acquisition of IBM's global computer business and the American mobile phone giant Motorola, business relationships, sales channels are all opened, so Lenovo's products are basically unimpeded in the United States, and it didn't take much time for its mobile phone and computer market share to rank among the top three in the United States.
In the past five years, Lenovo's market share in the Latin American computer and smart device market has grown dramatically from 6% to more than 20%, occupying the top spot in the Latin American market in the past two years. Lenovo has conquered the continent and become the leader of the South American PC market.
It is worth mentioning the smartphone business, where Lenovo's Motorola has doubled its market share in Latin America in the past six years, firmly occupying the second position in the market, behind industry leader Samsung. In Brazil and Argentina, the two largest South American markets, the market share of motorcycles has grown to 30% and 40% market share, ranking second and first. In the Brazilian market, Samsung and Motorcycle control 70% of the market share, far more than other competitors.
NO.2 Huawei
Overseas revenue: 222.78 billion yuan
Despite the crackdown, Huawei still won 30% of the global telecom equipment market share, ranking first in the world, and its overseas sales revenue of 5G wireless equipment is also increasing year by year.
And even if it doesn't sell equipment, Huawei can receive $560 million a year in 5G royalties alone.
It is worth mentioning that Huawei's first overseas factory will be completed in France, which will start construction this year and is expected to be officially put into operation by the end of 2025, and the corresponding products will be supplied to the entire European market.
It is reported that Huawei's new factory is located in Brumat, Rhein province in northeastern France, covering an area of about 8 hectares (80,000 cubic meters), with an estimated annual production capacity of 1 billion devices, which are required components for 4G and 5G base stations, including chipsets, motherboards, etc., which can be supplied to the entire European market.
Huawei really profoundly interprets what it means to be strong and never complain about the environment.
Europe used to be Huawei's largest overseas market, although the past sanctions have limited Huawei's footsteps to a certain extent, but with the return of Kirin chips and the HarmonyOS ecosystem, Huawei may gradually restore its previous strong position, and the completion of the new factory in France will also strongly support Huawei's European business and promote Huawei's entry into other important markets around the world.
NO.3 吉利
Overseas revenue: 180.48 billion yuan
How strong is Geely?
London Taxi in the UK, Volvo in Sweden, Borten in Malaysia, and Lotus in the UK, each acquisition can dominate the global financial headlines.
took the technology and integrated global resources to build cars, and finally created the sales myth of Xingyue brand models.
Today, Geely is also expanding overseas with the help of acquired brand resources and sales channels. In 2023, 274,000 vehicles will be exported, ranking first among private car companies, selling well in 43 countries, and the Geely brand will mainly deploy in five countries in ASEAN, the Middle East, Africa, Mexico and Central Asia. ZEEKR's main overseas market is in Europe, and this year it will be deployed in 8 countries: Germany, France, Norway, Denmark, Belgium, Luxembourg, Sweden and the Netherlands. After June, the right-hand drive models of 009 and X will be launched, and a total of more than 50 countries and markets around the world will be developed simultaneously.
Among them, Russia has the best sales in overseas markets, accounting for more than 20%. In February this year, Geely's sales in Russia soared to 3.8 times that of the same period last year.
For 2024, Geely Automobile's annual target is 1.9 million units, an increase of 13% over the total sales in 2023.
At present, Geely Automobile is still the only automotive group in Asia in the International Automotive Standards Cooperation Organization (IATF), and has the right to vote on the board of directors, and Geely Automobile will jointly participate in the formulation of international quality standards and promote the sustainable development of the world automobile industry. It is reported that Geely has led and participated in the formulation of 407 international, national, industry, local and group standards, and has completed the release of 254 standards.
NO.4 Beautiful
Overseas revenue: 142.64 billion yuan
Midea Group's OEM (OEM) overseas practice in the 80s of the last century made Midea taste the sweetness early.
And Midea's overseas expansion mainly relies on localization and influence.
Let's talk about localization first, Midea has 20 R&D centers and 18 production bases overseas, which is more than the number in China, and the executives are all locals. The combination of these conditions gives Midea the ability to defy the sky, it can keenly discover the pain points of local consumers, and then quickly develop corresponding products.
For example, a large part of New York in the United States are old houses built before World War II, and the power system is old, which cannot support the operation of central air conditioning, and many places also stipulate that outdoor units cannot be installed by drilling holes in the exterior wall, so that split air conditioning will not be used. Therefore, Americans often use this old-fashioned window machine, the refrigeration is facing the indoor, and the heat dissipation is facing the outdoor, once it is installed, it is difficult to close the window normally, not only the refrigeration effect is poor, but the noise is also large.
After discovering this pain point, Midea developed a U-shaped window air conditioner, which separates the cooling surface and the heat dissipation surface, and connects it through the U-shaped slot, and the noise and refrigeration problems are all solved after closing the window.
This kind of design makes Americans crazy, so in the summer, the major shopping malls around New York are basically out of stock, and you can't buy it if you want to, and the product was rated as the best window air conditioner in 2020 by CNN. The Wall Street Journal even opened a special report to praise it by name.
In addition to product innovation, Midea also has a lot of overseas marketing tricks, sponsoring top football leagues such as the Premier League and La Liga, and finding overseas Internet celebrities to engage in various theme activities.
Some time ago, in order to promote its own windless air conditioner, Midea launched a large-scale cosplay challenge on TikTok, and various Internet celebrities began to cos world famous paintings, which were worn by traditional air conditioners.
Today, Midea's household air conditioning business has accounted for nearly 30% of the market share in the Asia-Pacific and Latin American regions, Midea's microwave oven market share in Eastern Europe is 78%, and dishwashers occupy 42% of the market share in the Asia-Pacific region, which is a veritable global home appliance king.
Midea Group has set a goal that by 2025, overseas sales revenue will exceed 40 billion US dollars (over 200 billion yuan), and the international market share will reach 10%. The five strategic markets account for 15%-20%, of which Southeast Asia should be the first, and North America should enter the top three.
NO.5 Haier
Overseas revenue: 127.33 billion yuan
Haier, in fact, began Sino-foreign cooperation at the beginning of its birth, and the international vision was brought out of the womb. The successful path of Chinese home appliance enterprises usually includes the following steps: introducing technology, improving quality, building core technology, building a brand, going overseas - high-end brand, and Haier's development fully interprets this development process.
Founded in 1984, the following year it introduced advanced technology and equipment from Liebherr in Germany, and then had the first generation of four-star refrigerators in Asia.
In order to reflect the cooperation between the two sides, they designed the first generation of Haier's trademark - Qindao Liebherr, and also launched two mascot images, that is, the Haier brothers in everyone's childhood memories, the black-haired brother is named Qindao, representing the Qingdao General Factory, and the yellow-haired brother is called Haier, representing the German Liebherr company.
In 1999, Haier began to go overseas, and Haier in Europe and Haier in the Middle East were established one after another, but after a few years, the market share has always hovered around 1%.
In those years, the name of Made in China was not as good as it is now, and since this is the case, then use magic to defeat magic.
Since 2011, Haier has been buying and buying frantically, and after a large number of acquisitions of foreign companies, Haier has continued to export China's management wisdom, and after General Appliances was acquired by Haier for more than ten consecutive years, it turned losses into profits in just two years, and its performance skyrocketed.
Today, Haier and its home appliance brands rank first in market share in 6 countries including the United States and New Zealand, enter the top three in 9 countries such as India and Italy, and rank in the top five in 5 countries such as the United Kingdom and the Philippines.
At present, Haier Smart Home has seven major brands, including Haier, Casarte, Leader, GE Appliances, Candy, Fisher & Paykel and AQUA, forming a strong brand matrix. Through continuous technological innovation and brand building, Haier Smart Home is becoming a leader and promoter in the global home appliance industry.