Future business in the world's top 500: Pinduoduo made its debut on the list, Meituan jumped 83 places, and JD.com became China's largest private company

National Business Daily

2024-08-06 19:12Published on the official account of Sichuan Daily Economic News

The full text is 2652 words, and it takes about 8 minutes to read, so help me highlight the key points

Highlight the point

In 012024, the Fortune Global 500 list was released, and the number of companies in Chinese mainland (including Hong Kong) was 128, with 5 companies in Taiwan regions on the list, and the number of companies on the list in Japan ranked third.

02The total revenue of Chinese companies on the list is about 41 trillion US dollars, equivalent to one-third of global GDP, and Walmart has become the world's largest company for the 11th consecutive year.

03 Large companies in the Internet field have risen as a whole, with JD.com, Tencent and Meituan all improving their rankings, and Pinduoduo is on the list for the first time, ranking 442.

04In addition, China Post has been ranked among the top 100 for 5 consecutive years, and SF Express has also been shortlisted for 3 consecutive years, ranking 415th this year.

05 China's e-commerce retail market is heating up, JD.com entered the top 50 for the first time, Meituan jumped 83 places, and Pinduoduo made the list for the first time.

The above content is generated by Tencent's hybrid model and is for reference only

Reporter: Yang Xinyi, Wang Yubiao, Editor: Zhang Haini

As Olympians from all over the world compete for gold and silver, the latest rankings in the business world are also released, what are the new changes in this year's "Fortune 500"?

On August 5, Fortune Chinese Network released the 2024 Fortune Global 500 list, and the number of mainland (including Hong Kong) companies on the list is 128, and 5 companies in Taiwan are on the list.

China is second only to United States (139) in terms of the number of companies on the list this year, and Japan is the third largest number of companies on the list. According to Fortune Chinese, to date, the three countries of United States, China and Japan together contribute two-thirds of the companies, revenues and profits to the list.

The reporter of "Daily Economic News" learned that the total revenue of the companies on the list this year is about 41 trillion US dollars, equivalent to one-third of global GDP. Among them, Walmart has become the world's largest company for the 11th consecutive year, ranking first on the Fortune 500 list, with total revenue of $648.1 billion in fiscal year 2024. Amazon is firmly in second place, and the giant of the e-commerce retail industry still has an unshakable position on the list.

Focusing on the performance of China's companies on the list, it is worth noting that one of the major companies in the Internet sector has risen overall. Among China's five internet giants, in addition to Alibaba, which slipped two places, JD.com, Tencent and Meituan all improved their rankings, while Pinduoduo, which has seen a phenomenal performance growth since last year, made the list for the first time.

In the postal and express delivery fields closely related to e-commerce, a total of 8 companies were shortlisted this year. Among them, China Post has entered the top 100 for five consecutive years; SF Express, a private express delivery company, has also been shortlisted for three consecutive years, ranking 415th this year.

China's Internet heating up is underway: JD.com is the first to enter the top 50, and Meituan jumps 83 places

The top two in China's Internet industry are still occupied by JD.com and Alibaba Group. In addition, Pinduoduo made its debut on the list, and it is not difficult to see that the trend of consumption recovery in 2023 is obvious, and China's e-commerce retail market will also heat up.

In terms of specific rankings, JD.com ranked 47th, entering the top 50 for the first time, and replaced Ping An of China as the largest private company in the mainland; Alibaba Group slipped two places to 70. Tencent's revenue in 2023 is US$86 billion, ranking 141st; Meituan became the Chinese company that improved the most in the list, jumping 83 places to No. 384.

JD.com has ranked first in the domestic Internet industry for a second consecutive year, and it has also been among the world's top 500 companies for nine consecutive years. According to the Fortune rankings, JD.com's revenue in 2023 will be $153.2 billion.

On the one hand, thanks to the recovery of the online and offline consumer world, JD.com has created a certain increase in transaction volume and sales, on the other hand, JD.com's long-term investment in the underlying supply chain infrastructure has also become an important guarantee for its relative recovery.

According to a set of data obtained by the reporter of "Daily Economic News" from JD.com, by the end of 2023, JD.com's supply chain infrastructure assets will reach 153.8 billion yuan. In terms of enterprise size and scale, JD.com's total human resources expenditure in 2023 will reach 104.7 billion yuan, creating jobs for nearly 620,000 people.

In addition, since the technological transformation in 2017, the JD system has invested nearly 130 billion yuan in technology research and development. Before this year's "618", Liu Qiangdong's digital person "Procurement and Sales Dongge" was broadcast, which further led to the fire of JD Cloud's "Yanxi Digital Person".

Meituan, which jumped 83 places in the rankings, has indeed achieved comprehensive growth in 2023.

According to Meituan's 2023 performance data, its annual revenue was 276.7 billion yuan, a year-on-year increase of 26%. Meituan's core fundamentals are local commerce, and its revenue increased by 29% to RMB206.9 billion, with an operating profit of RMB38.7 billion, up 31% year-on-year. At the same time, Meituan's flash sale, a non-catering instant retail business, will see a year-on-year increase of more than 40% in order volume in 2023.

The only one that has fallen in the ranking of Chinese Internet companies this year is Alibaba, which has completed multiple rounds of organizational changes and adjustments to many business segments in 2023. In the past year, Alibaba completed the "1+6+N" organizational change, and Wu Yongming succeeded Daniel Zhang as CEO of Alibaba Group, chairman and CEO of Alibaba Cloud, and took over as chairman and CEO of Taotian Group. On the one hand, "reviving Taotian" has become the highest priority within Alibaba. In addition, it is also extremely challenging to solve the "big company disease" and maintain the entrepreneurial spirit.

"Ali is in a period of change, so the four major indicators are slightly behind. However, with the stability of the organizational structure and a clear direction of change, Alibaba is rapidly improving and is expected to return to the growth track. Zhuang Shuai, founder of Bailian Consulting, said in an interview with a reporter from the Daily Economic News.

In 2023, the annual revenue will increase by 90%, and Pinduoduo will be on the list for the first time

In addition to the international veteran e-commerce companies that have been on the list for many years and the domestic Internet e-commerce giants that have been on the list for many times, there are also new faces of e-commerce on this year's list - Pinduoduo, a Chinese Internet e-commerce company, ranking 442nd.

According to the data of the National Bureau of Statistics, the world's top 500 companies are mainly ranked according to the operating income of the enterprise in the accounting year from high to low.

At the same time, Fortune magazine requires that the companies on the list must meet the following conditions: First, the operating income must meet the standard. Profits, assets, shareholders' equity, number of employees, etc. are only used as reference indicators, regardless of how well-known the enterprise is in the world; Second, enterprise statistics must have a high degree of transparency; Third, there must be independent corporate governance.

In 2023, Pinduoduo, which conquers the domestic and foreign markets at a low price, will indeed hit new highs in revenue growth. In the third quarter of 2023, when Alibaba and JD.com's revenues both grew by single digits, Pinduoduo, as the youngest of the "three giants of e-commerce", almost doubled its revenue. In the third quarter of last year, Pinduoduo's revenue reached 68.84 billion yuan, a sharp increase of 93.9%.

After the release of the financial report, at the end of November last year, the market value of Pinduoduo increased by nearly 200 billion yuan, with a total market value of more than 1.31 trillion yuan, and then the market value once overtook Alibaba, becoming a landmark event in the industry.

According to the financial report, Pinduoduo's annual revenue in 2023 will be 247.6 billion yuan, a year-on-year increase of 90%. In the first quarter of 2024, the company achieved revenue of 86.8 billion yuan, a year-on-year increase of 131%.

While the main website is growing strongly, Pinduoduo's cross-border business Temu has also made frequent moves in the past year. Since its launch in September 2022, Temu has entered North America, Australia, Europe and Asia. Zhu Zheng, senior vice president and chief development officer of Pinduoduo, recently said at the 2024 China Internet Conference that Temu has entered more than 70 countries and regions around the world.

In terms of profit margin, Pinduoduo's profit margin is as high as 24.2%, ranking 17th among the world's top 500 companies this year, and it is the mainland enterprise with the highest profit margin except China Merchants Bank (29%).

"Being on the list means that Pinduoduo's financial indicators, market performance, innovation capabilities and globalization strategy are recognized globally. Pinduoduo still has a lot of room for development and development prospects at home and abroad. Zhuang Shuai said.

However, Pan Helin, a member of the Information and Communication Economy Expert Committee of the Ministry of Industry and Information Technology, pointed out in an interview with a reporter from the "Daily Economic News": "I think Pinduoduo is only a short-term victory, and in the long run, the focus of e-commerce competition is not only low prices and low values, but also e-commerce will compete for after-sales services." ”

China Post's ranking has risen 8 postal and express delivery companies on the list

In the field of postal and express delivery, a total of 8 companies were shortlisted. Among them, China Post has entered the top 100 ranks for five consecutive years, ranking 83rd this year, up 3 places from last year. According to the official data of China Post, in 2023, China Post Group will complete revenue of 798.731 billion yuan, an increase of 6.74%; The profit was 78.786 billion yuan, an increase of 8.71%. Revenue and profit rank first in the world's postal service.

Image source: National Business Daily (data map) 

SF Express, a private express delivery company, has also been shortlisted for three consecutive years, ranking 415th this year. In terms of revenue and profit, SF's revenue in 2023 will be 258.4 billion yuan; The net profit attributable to the parent company was 8.23 billion yuan, a year-on-year increase of 33.4%. At the end of June 2023, SF completed the sale and delivery of the franchise model of Fengwang business, further focusing on the development of its core business.

In 2023, the total volume of SF Holding will reach 11.97 billion votes, a year-on-year increase of 7.5%. The huge logistics network has become one of the supports for SF's performance growth. By the end of 2023, SF operated and managed 1,900 warehousing resources, 396 transshipment centers, and more than 44,000 self-operated and agency service points across the country.

In addition to the main business of express delivery, in the past year, SF Express also has relatively large differentiated routes and certain advantages in air freight, intra-city freight and other sectors. In the third quarter of 2023, SF Express has completed and put into operation Asia's largest air cargo hub. It has built a business portfolio including international express delivery, cross-border e-commerce logistics and local express delivery in Southeast Asia.

As of the end of 2023, SF has a total of 103 wholly freighter aircraft owned and leased, operating a total of 152 domestic and international routes, connecting to 65 international airports. SF's intra-city instant delivery business, SF Intra-city, successfully turned around its losses in 2023 and achieved its first annual profit.

In addition, Japan Post, DHL Group, United States Post, France Post, etc. have also entered the list of the world's top 500.

National Business Daily

View original image 287K

• 

•