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2024 Fortune China 500 List: Longcheer Makes the List
2024 Fortune China 500 List has been unveiled recently, and Longcheer successfully makes the list.
The Fortune List is designed to select Chinese companies with significant strength and influence, standing as one of the most authoritative enterprise rankings globally. The evaluation criteria cover multiple dimensions, including company size, profitability, and brand influence, etc. The compilation methodology is in line with the Fortune Global 500. In 2023, the total revenue of the 500 Chinese companies listed reached USD 14.6 trillion, signifying that these companies' aggregate revenue accounted for over 81% of China's GDP that year.”
Our inclusion on the list demonstrates that Longcheer has achieved excellent performance in all aspects mentioned above and has competitive advantages in navigating complex and fluctuating market conditions.
Amidst the intricate and ever-changing global economic landscape and international situation, Longcheer steadfastly upholds its long-term driven development concept, and remains committed to a strategic global layout to operate existing businesses. Longcheer is steadily and orderly expanding new businesses and pursues sustained, high-quality long-term growth. In 2023, Longcheer's operating revenue hit RMB 27.185 billion, with a year-over-year increase of 7.84% in net profit attributable to the parent company. This persisted into the first quarter of 2024, with total operating revenue standing at RMB 10.337 billion and a net profit attributable to the parent company of RMB 128 million—a year-over-year increase of 50.24%.
With the advent of the AI PC commercialization era, Longcheer is actively expanding its business reach. At present, it has established professional end-to-end teams for AI PC product R&D, production and manufacturing, quality management, operation and delivery, and secured AI PC projects from domestic customers. Next, Longcheer will establish its differentiated advantages in the field of AI PC by further strengthening its core technological capabilities. According to the analysis of the 2024 Fortune List, the ranking of top companies in the vehicle and parts industry has significantly climbed the ranks compared to the previous year, with representative enterprises in emerging sectors achieving greater growth and widespread recognition. As early as 2022, Longcheer commenced its venture into automotive electronics-related businesses. At present, the automotive electronics production line has been established by Longcheer factory in Huizhou, which meets the factory audit requirements of some customers, and related products have begun to be shipped in small quantities. These measures have promoted new growth points for Longcheer and provided a solid foundation for its sustained, high-quality development.
As Longcheer commemorates its 22nd anniversary in July, our inclusion on the Fortune China 500 List marks the highest acknowledgment of Longcheer’s sustained growth, the deepening of our internal transformation, and the enhancement of our capabilities over the years. This also validates the correct strategic direction of Longcheer.
Looking ahead, Longcheer will continue to uphold the long-term driven spirit and adhere to the “customer-centric” high-quality development path, thus providing excellent products and services to global customers, improving people’s quality of life, and creating new values for society.
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