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22 auto-related companies enter 2019 Fortune China Top 500 List

Fortune China released a few days ago the list of China's top 500 public companies, whose total revenues in 2018 hit a record high of RMB45.5 trillion, a year-on-year increase of 14.8%.

Net profits for the largest 500 companies in China aggregated RMB3.625 trillion last year, representing a year-on-year growth of 4.21%, compared with a 24.24% increase for the year-ago period, said Fortune China.

There were a total of 22 automotive companies (including OEMs and auto parts suppliers) entered the 2019 Top 500 list, two companies less than that of the previous year. 

SAIC Motor, Geely Automobile and SINOTRUCK (Hong Kong) Limited saw their rankings remain the same as that of a year earlier, sitting the 5th, 85th and 146th places respectively.

Most of enterprises got their positions slid compared with the year-ago list amid the overall downturn of China’s automobile market. Last year, China's annual vehicle sales declined 2.76% year on year to 28,080,600 units, showing decrease for the first time since 1990.

Of that, Beiqi Foton Motor, Zhengzhou Yutong Group, Jiangling Motors, FAW Car, Nexteer Automotive and Chongqing Sokon, saw their rankings fall by 50 or more than 50 places from the year prior.

Only two companies witnessed their rankings climb to some extent—BYD's ranking moved up to the 70th from 76th a year earlier, while Ningbo Joyson Electronic Corp. surged by 112 places to the 164th.

The EV power battery giant CATL and the NEV manufacturer BAIC BJEV, which went public last year in the form of a backdoor list under the shell of BAIC BluePark New Energy Technology Co.,Ltd, were newcomers this year, suggesting China's robust growth in NEV market.

Although JAC Motors and Foton Motor ranked among the top 250 companies, both companies suffered substantial loss in 2018 net profits.