FOTIC’s Shareholder Sinochem Appears on Fortune Global 500 list for 27 Times, Ranks 143rd

With the company’s business revenues totaling USD 59.533 billion, Sinochem ranked 143rd in the 2017 Fortune Global 500 list that unveiled on the evening of July 20 (Beijing time). As one of the first Chinese enterprises on the list, Sinochem has made the list 27 times.

As many as 115 Chinese enterprises appeared on the 2017 list, Sinochem was ranked 34th and 19th among 48 central enterprises listed. The list ranks enterprises according to their business revenues in the previous year.

Led by the new management, Sinochem’s business revenues grew steadily to RMB 395.5 billion in 2016, up by 3.9 percent year-on-year, while its total profit rebounded to RMB 8.07 billion, up by 34 percent year-on-year, and its cash flow from operations reached the highest level in recent three years. As a result of business assessment of heads of central enterprises by the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC) by 2016, Sinochem achieved an A rating by virtue of fulfilling its annual assessment targets. This is the 12th time that Sinochem has been given an A rating by SASAC since the assessment started.

Central Enterprises on 2017 Fortune Global 500 List