All-China Federation of Industry and Commerce newly unveiled ranking of Top 500 China's private enterprises and Research and Analysis Report on China's Top 500 Private Enterprises 2023 on September 12, 2023. Huayou Cobalt ranks No.167 among China's Top 500 private companies in 2023 with total revenue standing at CNY 63.034 billion, while grabbing the No.112 position in Top 500 China's private corporations in manufacturing industry, jumping by 154 and 91 respectively compared with last year. The great rank vaulting in two major lists proves that the company has already made great achievements in the comprehensive implementation of the work requirements of "striving for excellence, improving quality and forging ahead". Huayou Cobalt has commenced its new journey of "Ten-Year Mission Completed in Five" with high-quality development.
The year of 2022 witnessed Huayou Cobalt's stable, furious and progressive development in its routine work, staging a new dimension for safe development, coordinated development, robust development, innovative development, joint development so as to further stabilize an integrated industrial structure for Li-ion battery materials, further updating the operation pattern of overseas resources, domestic manufacturing and global market. The company attached paramount importance to transformation path of “Controling Resources Upstream, Developing Markets Downstream and Enhancing Capabilities from Within” with a view to creating more values for customers, whilst making more contributions to industrial upgrading. Meanwhile, the ability to open up at a high level to lead high-quality development has been further enhanced, with a series of breakthroughs and landmark accomplishments. One of its prominent milestones is to deliver a remarkable achievement regarding company management with CNY 10 billion growth spurt in revenue for three consecutive years, transitioning itself from a star in Top 500 China's private enterprises in manufacturing industry to a pacesetter in Top 500 China's private companies.
2023 holds key to 14th Five-Year Plan and it is also a critical year for "Ten-Year Mission Completed in Five", which is of great significance to previous endeavors and perseverance in the years to come. In the first half of 2023, all Huayou strivers stayed together to concentrate on three focuses, zero in on three mainstreams, enhanced three factors, reinforce industrial coordination and cooperation, lay a solid foundation for major projects, press ahead with research and development of IPD products, make perfection more perfect in manufacturing, spare no pains to build ESG system, further boost high-level opening up. The corporate began to implement its "Two Advancements" competitive strategy and "One of the Best" business strategy, striving for excellence, improving quality and forging ahead. It indeed delivered excellent business performance, maintaining a robust development momentum.
▲ Huayou Quzhou Industrial Park
Being put in the list of Top 500 China's private enterprises for two consecutive years, and its extraordinary move-ups in ranking fully demonstrate the Group's integral, accurate and holistic implementation of new development philosophy. Besides, it also flashed the development potential and promising future for the new energy Lit-ion battery industry. It is an exultant incentive and rapturous inspiration to all Huayou strivers.
It is learnt that judging from revenues, the threshold of Top 500 private enterprises is set at CNY 27.578 billion, picking up by CNY 1.211 billion over the previous year. The threshold of Top 500 private enterprises in manufacturing industry is set at CNY 14.516 billion, upsurging by CNY 1.944 billion compared to the last year. The research and analysis paper discloses that the overall scale of ranked private enterprises embraced steady growth with industrial structure continually optimizing. The total income of Top 500 private enterprises reached CNY 39.83 trillion, marching 3.94% higher.