C&U Group ranked seventh among the top 100 enterprises in Wenzhou.
On January 2, the "2019 Wenzhou Top 100 Enterprises" list was released. The Municipal Enterprise Confederation, the Municipal Entrepreneurs Association, and the Municipal Industrial Economic Federation made this new ranking of Wenzhou enterprises, based on a series of indicators on the scale of business operations, economic benefits, and technological progress.
In the "2019 Wenzhou Top 100 Enterprises" list, the C&U Group ranked seventh.
In the "2019 Wenzhou Top 50 Manufacturing Enterprises" list, the C&U Group ranked sixth.
1. Thriving development
The list is based on the operating income (sales income) in Wenzhou in 2018. The data shows that in 2019, the total annual operating income (sales revenue) of top 100 enterprises in Wenzhou reached 261.48 billion yuan, accounting for 43.5% of Wenzhou economy in 2018. The total net profit of top 100 enterprises achieved 19.689 billion yuan, which presents an increase of 1.617 billion yuan over 2018, i.e. an increase of 8.21% year-on-year. Total assets amounted to 495.945 billion yuan, a year-on-year increase of 12.0%. The total tax payment was 13.662 billion yuan, accounting for 15.26% of Wenzhou’s fiscal revenue in 2018. The new capital threshold for Wenzhou top 100 enterprises is 581 million yuan, an increase of 16% over the last year.
2. Manufacturing industry dominates
As the main force to support Wenzhous real economy, 56 of the top 100 Wenzhou enterprises come from the manufacturing industry, an increase of 4 over the previous year. The total annual revenue of these manufacturing companies was 165.174 billion, accounting for 63.16% of the top 100 revenue. The total net profit was 14.129 billion yuan, accounting for 71.769% of the top 100 net profit. The total annual tax payment of top 100 was 9.630 billion yuan, accounting for 70.48% of their total tax payment.
In recent years, through the promotion of technological innovation, Wenzhou’s traditional industries have initially realized the optimization and transformation of industrial structure. The product quality and skills have been effectively improved, thus strengthening the core competitiveness of the industry. If ranked by industry category, among the top 56 manufacturing companies, 32 of them are industries on electrical and electronic instruments, auto parts, clothing, shoe leather, and chemical industry.
3. Large input into scientific research
As a birthplace of the private economy, Wenzhous private enterprises have grown out of nothing and expanded from a small to a large project which shows the process of strengthening and consummation, and formed an unique " 99999" phenomenon-that is, the number of private enterprises accounts for 99.5% of Wenzhou enterprises; their economy contribution toward GDP exceeds 90%; their industrial added value accounts for 91.5%, the number of their employees accounts for 92.9%, and tax revenue accounts for 90%. Moreover, in the list of top 100 economy "barometers", Wenzhous private enterprises have some outstanding characteristics.
In terms of quantity, private enterprises accounted for 81 of the top 100 enterprises. According to incomplete statistics, these 81 enterprises have 1,247 invention patents, accounting for 90.89% of the top 100 invention patents. Their R&D expenses account for 99%, patents and invention patents accounting for 100%. It can be seen that the private enterprises are far ahead in terms of investment in scientific research and technological innovation.
