State Grid is the world's largest public utility company, and its business scope is centered on investment, construction and operation of power grids, involving power supply, financial services, international business and other fields.
Founded in 2002, State Grid Corporation of China (SGCC) is a wholly state-owned company directly managed by the central government in accordance with the provisions of the Company Law, and is a large state-owned key backbone enterprise related to the lifeline of the national economy and national energy security.
The State Grid has mastered the ultra-high voltage transmission technology, which can transmit more than 1,000 kilovolts of electricity, compared with the traditional transmission technology, the power transmission has been increased by 3 times, the distance has been increased by 2.5 times, and the transmission loss has been reduced by nearly half. This technology achieves 99.95% grid coverage, greatly improving people's living standards and ensuring power supply in most parts of the country.
State Grid has been awarded Grade A in the performance assessment of the State-owned Assets Supervision and Administration Commission of the State Council for many years, the first place in China's 500 most valuable brands, and the first place in the top 50 global public utility brands.
State Grid has carried out UHV technical cooperation projects with many countries, exporting China's technical standards, equipment and the entire industrial chain of EPC, creating significant economic benefits.
As the largest power company in China and even the world, State Grid's contribution to China is all-round and multi-faceted. Through its efforts in technological innovation, green development, and safety assurance, State Grid has not only promoted the modernization of China's power industry, but also made important contributions to China's economic and social development.
From 2016 to 2018, the company ranked second in the Fortune Global 500, first in the Fortune Global 500, and third in the Fortune Global 500 in 2023.
In 2022, State Grid's operating revenue reached 3.57 trillion yuan, ranking first among China's top 500 enterprises, and has ranked first in the world for nine consecutive years, with annual operating income more than the sum of the industry's second to sixth largest operating income.
The company's business area covers 27 provinces (autonomous regions and municipalities directly under the central government), covering more than 88% of the country's land area, and serving more than 1.1 billion people. The registered capital of the company is 829.5 billion yuan, and the total assets are 3,808.83 billion yuan.
The main purpose of the State Grid is not to make a profit, but to provide services to the society. In China, electricity prices have not risen in 30 years, and China's electricity prices are very low compared to other countries, thanks to China's cross-subsidy policy, which is also a reflection of the State Grid's sense of social responsibility.
State Grid not only operates China's power grid, but also operates the power grid of 11 countries such as Brazil, the Philippines and Australia, with a total length of more than 1.67 million kilometers, and is a multinational company that can influence the world.
In 2009, the State Grid Corporation of China was granted a 25-year concession for the Philippine National Transmission Grid.
In 2010, State Grid acquired seven small power transmission companies in southeastern Brazil for $1 billion;
In 2012, State Grid acquired a 25% stake in Portugal's Power Grid Company
In 2013, it spent $3.7 billion to buy an equity stake in the Australian company SP and its subsidiaries.
In 2014, the State Grid Corporation of China acquired a 35% stake in Italian Energy Grid Company;
In 2015, State Grid signed a power cooperation project with South African power Eskom
By the end of 2015, State Grid's global assets totaled more than US$450 billion.
It can be seen that the State Grid has performed well in technological innovation, economic contribution, international influence, etc., and has an irreplaceable role in social contribution. Therefore, it can be considered that the State Grid is one of the best enterprises in the mainland.