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The “Xiamen Top 100 Enterprises 2019” ranking jointly launched by the Xiamen Federation of Enterprises and Entrepreneurs, Xiamen Daily Office, and Xiamen Radio and Television Group was drawn down the curtain with success. Xiamen Hengxing Group Co., Ltd. made its presence in the list for eight consecutive years to be ranked the 15th this year. 

Four sublists—“Xiamen Top 10 Manufacturing Enterprises 2019”, “Xiamen Top Tens in Service Industry 2019”, “Top Ten New, Distinctive, Specialized & Sophisticated Enterprises 2019”, and “Xiamen Top Ten Green Enterprises 2019”—were released as well. Hengxing held the ninth place in the “Xiamen Top Tens in Service Industry 2019” list.

Highly touted list

The “Xiamen Top 100 Enterprises 2019” list made its debut in 2006 and has witnessed the passage of 14 years as an annual spectacular in the business industry. It truly records the traces of how Xiamen enterprises develop from small to large, from weak to strong, and summarizes the reform of large enterprises in Xiamen and their successful experience in development.

Since the launch of the ranking campaign in late May, it has received great attention from major enterprises in Xiamen, for which more than 100 companies enthusiastically applied. By this campaign, companies expressed their hopes of understanding their status ranking and changes in the 2018 fiscal year, and continuing their efforts in growing bigger and stronger businesses on the basis of a horizontal comparison. Besides, many enterprises in the fast track of development wished to showcase their comprehensive strength and corporate image to the society by this ranking.

Sorting by operating income

This year the Xiamen Federation of Enterprises and Entrepreneurs continued to follow the international standards and the regular practice of the Fortune 500, and sorted out a preliminary list based on the self-reported or industry-recommended sales income or operating income and other economic indicators. Among them, the threshold for the “Xiamen Top 100 Enterprises 2019” list was set at an operating income of more than 800 million yuan. 

Through the top 100 list, Xiamen enterprises are believed to have gradually expanded their scale, continuously enhanced their innovation capacity and profitability, and achieved many fruitful explorations and practices in reform and opening up, innovation-driven business, diversified markets, transformation and upgrading. It can be told that the listed enterprises are the best “vivid advertisements” for Xiamen’s urban development, and also a “gilded signboard” to attract investment. The list will create a good environment for Xiamen to attract big investments, maintain solid development, foster high-tech, high-growth, high value-added enterprises to secure capitals, talents, and projects to Xiamen, and contribute to a new journey where enterprises can stimulate new development momentum, fulfill a new speed of growth, and fight for a new pattern of success.

Highlights

1) The top ten enterprises maintained strong revenue averaged at over 100 billions

“In the current environment where the world’s economic situation struggles, Xiamen’s economy develops in a relatively stable shape and even grows.” Jiang Xiaohui, professor at Jimei University School of Business Administration, said. The list showed that the top tens achieved an averaged operating income of 104.1 billion yuan last year, an increase of 18.1 billion yuan over the previous year. The number of enterprises with an operating income of 20 billion yuan reached 11, an increase of 2 over the same period last year. 20 companies in total fulfilled more than 10 billion yuan, an increase of 2 than last year.

2) Vigorous and emerging industries in a rise

The list fully told the constantly increasing vitality of Xiamen’s economic development. State-owned enterprises, in a stronger and more solid state, secured a foundation to improve their international competitiveness, while private enterprises were introducing new blood to constantly inspire the city’s innovation potential. As the most dynamic and potential economic groups, private enterprises grew their numbers and occupied over half of the 2019 list (51), accompanied by 28 state-owned and state-controlled enterprises, 19 foreign-funded enterprises, Taiwan, Hong Kong and Macao-funded enterprises, and 2 collective enterprises.

3) Powerful stamina of high-tech, high-growth, high-value-added enterprises

High-tech, high-growth, high-value-added enterprises secure a strong support for the high-quality development of Xiamen and sustain a powerful stamina. To develop stronger industrial chains, Xiamen City has cultivated a number of leading enterprises with core competitiveness, gazelle enterprises and unicorn enterprises, some of which were stand-outs on the list. “In the top 100 list, companies with new, distinctive, specialized and sophisticated features are growing in number and their rankings are also going up.” Jiang Xiaoyu said.

4) A trend of fulfilling social responsibility and green development

A good ecological environment is not only an inherent requirement for high-quality and good-looking development in Xiamen, but also a realistic need for people to live a better life. According to the list, traditional enterprises continue to save energy and reduce emissions and pollutions through technological innovation, transformation and adjustment, making themselves a model of energy conservation, intensive development and efficiency; emerging companies dealing with green industries and specializing in green products find the breakthrough points and benefit from green business.

Green should be the driving force for sustainable development in the future. “We will appeal to the society to pay attention to green development and enhance their understanding of green development by this campaign. We also hope the listed enterprises will guide and drive more enterprises to voluntarily assume social responsibilities with the power of model.

Hengxing stood out to be honorably listed

Xiamen Hengxing Group Co., Ltd. was founded in 1994, adhering to the core values of “integrity, responsibility, innovation and win-win” and committed to becoming a respected century-old enterprise. Over more than 20 years of steady development, Hengxing has grown into a large private enterprise that takes investment as the leading business but integrates mining, trade, asset management, cultural tourism, education and others, with its wholly-owned and controlled subsidiaries scattered in mainland China, Hong Kong, Vietnam and other countries and regions. With a total asset exceeding 17 billion yuan, Hengxing is now a member of China’s top 500 service companies, Fujian’s top 100 enterprises, Xiamen’s top 100 enterprises, and leading private enterprises in Xiamen.

Here is a brief breakdown of Hengxing’s main business lines. The mining sector has a number of resource reserves, with gold mining projects already listed on the Hong Kong Stock Exchange. For the trading line, long-term cooperative ties with high-quality customers at home and abroad have been established, with coke exports placed the first in our country. Asset management services have covered a number of quality property assets with growing values under the Group, including Grade A office buildings, high-end villas, commercial real estates and the like. As to cultural tourism, Hengxing has invested in or bought into such high-quality cultural tourism projects as Qingshuiyan Hot Spring Hotel, Xinjiang Kanas hotels, international luxury boutique hotels (under planning) and the planned Yellow River Three Gorges Scenic Spot.

While operating multi-industry businesses, Hengxing constantly seeks reforms and actively explores industrial transformation and upgrading. In recent years, it has focused on the areas of consumption upgrading like education, finance, medical care, and tourism. Meanwhile, it has also tried such emerging industries as cloud computing, artificial intelligence, cultural and creative services in many directions.