China's top 100 companies

Banks with hot IPOs, plus surging energy demand, propelled a dozen new arrivals onto our list of China's largest companies.

By Rupali Arora, Fortune

(Fortune Magazine) -- A rush of listings on the Hong Kong and Shanghai exchanges added a dozen newcomers to Fortune's annual list of China's 100 largest publicly traded companies. One of them had the largest share offering in the world: Industrial & Commercial Bank of China, which raised $21.9 billion last October. As China's biggest bank by revenue and Asia's most profitable bank, with profits of $6.2 billion last year, it grabbed the No. 4 spot on this year's list.

The Bank of China, which also had a successful IPO, debuted at No. 5. While China's economy grew nearly 11 percent last year, the revenue cutoff for this year's list rose 46 percent, to $1.9 billion, compared with last year's $1.3 billion.

The country's gnawing demand for energy helped keep China Petroleum & Chemical (Charts) in its No. 1 position for the seventh year in a row, with revenue up almost 34 percent, to $134 billion.

State-owned companies continued to dominate the list, taking the top ten spots. The largest private company on the list, computer maker Lenovo, fell four places, to No. 11, even though its revenues rose 10 percent, to $14.6 billion.

The China 100 was compiled by the editors of Fortune China in cooperation with the Finet Group, a Hong Kong--listed company specializing in providing business information about China, and was first published in Fortune China. In compiling the list, Fortune China looked at Chinese companies listed on the stock exchanges in Shenzhen, Shanghai, Hong Kong, Singapore, London, and New York City. The companies are ranked by 2006 revenues. Figures were provided by the companies to the relevant stock exchanges and obtained from Bloomberg. Top of page


The China 100
2007
Rank
2006
Rank
Company Revenues
($ millions)1
Profits
($ millions)1
Market value2
12/31/06
($ millions)1
Industry
1 1 China Petroleum & Chemical 133,963.3 6,497.5 97,348.1 Oil and gas
2 2 Petro China 88,358.8 18,239.7 254,187.2 Oil and gas
3 3 China Mobile 37,878.6 8,467.6 172,890.8 Telecommunications
4 N.A. Industrial & Commercial Bank of China 37,306.4 6,248.0 259,536.0 Banking
5 N.A. Bank of China 31,060.2 5,372.5 165,653.0 Banking
6 6 China Construction Bank 29,036.7 5,940.6 143,302.9 Banking
7 8 China Life Insurance 23,428.0 1,231.3 96,651.3 Insurance
8 4 China Telecom 22,455.0 3,480.9 44,422.0 Telecommunications
9 5 Baoshan Iron & Steel 20,236.2 1,668.5 19,449.0 Metals
10 N.A. China Communications Construction 14,733.1 410.3 14,688.9 Engineering and construction
11 7 Lenovo Group 14,627.8 161.1 3,144.7 Computers
12 10 China United Telecommunications 12,092.9 478.6 18,626.3 Telecommunications
13 11 CNOOC 11,407.2 3,966.3 41,256.4 Oil and gas
14 9 China Netcom Group (Hong Kong) 11,273.0 1,662.1 17,867.4 Telecommunications
15 13 Ping An Insurance 10,479.3 767.7 14,192.2 Insurance
16 18 Foxconn International Holdings 10,396.2 719.1 22,962.9 Electronics
17 12 Minmetals Development 9,807.6 68.1 776.3 Metals and mining
18 14 PICC Property & Casualty 9,150.1 267.0 5,728.0 Banking
19 15 China Resources 8,392.0 356.0 6,790.3 Diversified holdings
20 16 China Shenhua Energy 8,238.5 2,239.2 43,632.7 Energy
21 28 Aluminum Corp. of China 7,825.0 1,452.9 10,807.4 Metals
22 22 TPV Technology 7,186.6 152.0 1,231.5 Computers
23 38 Angang New Steel 7,001.7 877.8 7,904.1 Metals
24 37 Bank of China Hong Kong Holdings 6,751.5 1,804.7 28,744.1 Banking
25 25 China COSCO Holdings 6,539.8 260.5 3,524.9 Shipping
26 20 Sinopec Shanghai Petrochemical 6,473.8 94.5 4,962.6 Chemicals
27 21 Dongfeng Motor Group 6,189.7 266.9 4,185.2 Auto manufacturing
28 36 CITIC Pacific 6,033.9 1,060.9 7,535.3 Diversified holdings
29 26 China Southern Airlines 6,033.6 15.1 2,146.9 Airlines
30 27 Air China 6,028.3 409.3 7,571.6 Airlines
31 17 TCL 6,009.0 -247.8 782.8 Home appliances
32 24 Huaneng Power International 5,683.0 711.8 10,180.7 Electricity
33 19 Bank of Communications 5,543.4 1,624.8 55,711.4 Banking
34 30 Shanghai Electric Group 5,471.2 262.8 5,010.4 Power generation
35 23 Wuhan Iron & Steel Processing 5,298.7 499.8 6,393.0 Iron and steel
36 44 Shanxi Taigang Stainless Steel 5,140.9 310.8 4,455.9 Steel
37 40 China Merchants Bank 4,878.3 911.5 30,916.3 Banking
38 39 China Eastern Airlines 4,720.2 -356.5 1,921.8 Airlines
39 31 Maanshan Iron & Steel 4,401.4 292.0 3,678.7 Iron and steel
40 32 China International Marine Containers Group 4,253.6 355.5 4,980.9 Packages and containers
41 34 Hunan Valin Steel Tube & Wire 4,198.0 137.0 1,191.3 Iron and steel
42 33 Sinotrans 4,132.2 79.4 1,538.4 Logistics
43 N.A. Shanghai Automotive 3,911.9 182.7 6,864.0 Auto manufacturing
44 35 China Shipping Container Lines 3,911.8 110.2 1,631.6 Shipping
45 N.A. China Coal Energy 3,876.4 406.8 7,634.3 Energy
46 47 Shanghai Pudong Development Bank 3,831.3 430.0 11,901.6 Banking
47 29 TCL Multimedia Technology Holdings 3,760.6 -321.8 276.6 Home appliances
48 57 Harbin Power Equipment 3,731.7 131.4 1,464.2 Energy
49 43 China Minsheng Banking 3,698.9 491.4 13,299.7 Banking
50 82 Yunnan Copper 3,598.9 154.5 1,119.5 Metals
51 41 Tangshan Iron & Steel 3,550.9 183.2 1,627.6 Iron and steel
52 53 Shanghai Material Trading Center 3,498.2 8.9 264.7 Wholesale and retail
53 42 Jinan Iron & Steel 3,370.5 111.8 1,111.0 Iron and steel
54 58 COFCO International 3,335.9 127.0 2,826.5 Food
55 54 Chongqing Changan Automobile 3,292.8 82.9 1,729.3 Auto manufacturing
56 83 Jiangxi Copper 3,262.0 591.1 3,656.8 Metals
57 65 Suning Appliance Chain Store Group 3,196.8 92.4 4,196.5 Retail
58 62 Datang International Power generation 3,185.0 347.2 7,094.3 Electricity
59 63 GOME Electrical Appliances Holding 3,171.4 105.1 2,403.4 Home appliances
60 50 Bengang Steel Plates 3,166.6 211.8 2,143.6 Iron and steel
61 52 Laiwu Steel 3,119.6 95.7 725.0 Iron and steel
62 55 Digital China Holdings 3,109.9 28.1 284.9 Computers
63 60 Gree Electrical Appliances 3,052.6 80.6 1,226.1 Home appliances
64 46 ZTE 2,953.7 103.5 4,747.1 Telecommunications
65 51 Handan Iron & Steel 2,847.2 114.7 1,560.8 Iron and steel
66 49 Beijing Shougang 2,839.5 62.3 1,010.5 Iron and steel
67 N.A. Sinofert Holdings 2,709.4 114.9 2,417.1 Fertilizers
68 59 Shanghai Construction 2,693.5 32.5 480.6 Engineering and construction
69 68 Xiamen C&D 2,690.5 55.7 648.7 Wholesale and retail
70 61 Shanghai Friendship Group 2,678.0 18.3 412.5 Wholesale distribution
71 48 Guangdong Midea Electric Appliances 2,582.7 64.8 958.0 Home appliances
72 71 Great Wall Technology 2,554.6 -15.7 239.3 Computers
73 78 Weiqiao Textile 2,542.6 216.1 1,612.3 Textiles
74 64 Qingdao Haier 2,516.6 40.3 1,414.7 Home appliances
75 N.A. Eastern Communications 2,489.2 3.9 703.7 Telecommunications
76 73 Beiqi Foton Motor 2,476.6 6.1 358.0 Auto manufacturing
77 70 Sichuan Changhong Electric 2,405.6 39.2 1,027.3 Home appliances
78 N.A. Anhui Tongdu Copper Stock 2,391.2 74.9 749.4 Metals
79 56 Inner Mongolian Baotou Steel Union 2,342.5 83.8 1,356.7 Steel
80 77 Huaxia Bank 2,319.0 186.9 3,980.5 Banking
81 98 China Vanke 2,289.0 276.3 8,623.6 Real estate
82 N.A. Hunan Nonferrous Metals 2,278.3 57.9 1,983.5 Metals
83 76 AviChina Industry & Technology 2,194.4 -42.5 478.7 Auto manufacturing
84 88 Sinopec Kantons Holdings 2,185.1 20.1 268.6 Oil and gas services
85 67 Sinopec Yizheng Chemical Fibre 2,183.8 4.8 1,609.7 Oil and gas
86 89 Shanghai Zhenhua Port Machinery 2,155.6 205.5 4,525.5 Machinery
87 74 An Yang Iron & Steel 2,120.8 71.4 722.1 Iron and steel
88 75 Lianhua Supermarket Holdings 2,109.3 31.0 745.3 Retail
89 87 Inner Mongolia Yili Industrial Group 2,095.4 44.2 1,755.2 Food
90 N.A. China Mengniu Dairy 2,083.5 93.3 3,605.6 Food
91 N.A. Daqin Railway 2,070.5 560.5 13,480.2 Railway
92 69 Panzhihua New Steel & Vanadium 2,027.5 104.5 1,398.8 Iron and steel
93 72 Nanjing Iron & Steel 2,014.5 49.9 464.5 Iron and steel
94 66 Sinochem International 1,977.6 49.2 1,100.0 Oil and gas
95 94 Anhui Conch Cement 1,955.3 183.1 4,610.0 Building materials
96 81 Henan Shuanghui Investment & Development 1,940.5 58.5 2,052.9 Food
97 84 Huadian Power International 1,940.5 143.9 2,359.6 Electricity
98 90 Shijiazhuang Refining & Chemical 1,917.0 -205.4 1,147.4 Chemicals
99 79 Xiamen International Trade Group 1,910.4 26.0 396.0 Wholesale distribution
100 N.A. China Aviation Oil (Singapore) 1,888.5 237.4 9,221.6 Oil and gas
N.A. - Not on last year's list.
1 All dollar values were converted using the 12/31/06 exchange rate of 7.8041 yuan per U.S. dollar.
2 Market value is based on all shares outstanding, including those held by the government.