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Xinxing Cathay Group and Weiqiao Pioneering Group entered Global Fortune 500 Companies

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Beijing time on 9th July 2012, United States Fortuneglobal officially released the 2012 Global Fortune 500 Companies list. Xinxing Cathay Group and Weiqiao Pioneering Group entered Global Fortune 500 Companies.

In 2011, Xinxing Cathay Group topped the ranking of Global Fortune 500 Companies, ranked No. 484 by operating income of CNY 147.6 billion (equivalent to USD 22.832 billion). Xinxing Cathay Group is the country’s largest military supplier, as well as the leading production base for occupational clothing and footwear.

Shandong Weiqiao Pioneering Group Company Ltd. has become a super-large enterprise that focuses on providing goods and integrated service of cotton industry, spinning and weaving, dyeing and finishing, garment, home textile, heat electricity and aluminum industry . With its first-class equipments, productive capacity and economic benefit, Weiqiao Pioneering Group ranked No.1 in textile industry of China in fourteen consecutive years. In 2011, Shandong Weiqiao Pioneering Group’s sales revenue was USD 24.9055 billion . Its profit was USD 1.1276 billion. The group topped the ranking of Global Fortune 500 Companies, ranked No. 440.

Fortune of the world top 500 ranking is based on enterprise revenues as the main basis for evaluation, evaluation system covers the business revenue and net profit, total assets, shareholder rights, such as the total amount of total employees, it is to measure the world’s large company scale, efficiency and the strength of the most famous, the most authoritative’s list. This year, the fortune on the threshold of the world top 500 for about $22 billion, about $19.5 billion more than the previous year raised $2.5 billion.

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