Recently, 51 Foshan's A-share listed enterprises have disclosed their 2022 annual reports, of which 31 released positive growth in revenue and 23 achieved positive increase in net profit. In total, they have generated revenue of over 616.2 billion yuan and net profit of over 47.9 billion yuan.

Foshan A-share listed companies have grown steadily in 2022, with their total revenue and total net profit increased by 2.77% and 12.28%. Among them, 7 leading enterprises, such as Midea Group and Hisense Home Appliances, accounted for more than 80% of total revenue.

It has presented the resilience of Foshan's leading companies in the volatile economy. The data shows that the total revenue of these 7 leading enterprises reached 502 billion yuan, with an increase of 16.1 billion yuan compared with 2021, contributing 97% of the increase in total revenue of Foshan's A-share listed companies.

The annual report also reveals that the steady operation of main business is the underlying reason for growth. For example, Midea Group has seized the development and transformation opportunities of high-end manufacturing, photovoltaic energy storage, new energy vehicles, and therefore realized the revenue of 72.1 billion yuan in three major B2B sectors and overseas revenue of 142.6 billion yuan, having a year-on-year increase of 3.6%.

There are also enterprises that have realized growth by grasping new opportunities. Last year, the operating income of Hisense's refrigerator and washing machine business has decreased by 7.87% compared with 2021. But through the acquisition of Sanden Corporation of Japan, a top manufacturing supplier for air conditioning compressors system, Hisense achieved a remarkable revenue of 9 billion yuan.

Reporter | Tang

Revisor | Eddie, Linn

Photo | Foshan Daily