(Yicai) Aug. 28 -- E-commerce giants JD.Com and Alibaba Group Holding and oil refiner Hengli Group were China’s highest-grossing private enterprises once again last year, according to the latest ranking.

JD.Com topped the list for the fourth straight year with revenue of CNY1.16 trillion (USD162.5 billion), according to a ranking of the top 500 Chinese private firms compiled by the All-China Federation of Industry and Commerce released today. Alibaba and Hengli completed the podium with revenue of CNY981.8 billion (USD137.5 billion) and CNY871.5 billion, respectively, maintaining their positions.

Huawei Technologies followed in fifth position, which is also the same as last year, with revenue of CNY862 billion. New energy vehicle giant BYD climbed to the fifth spot, internet titan Tencent Holdings remained sixth, and refiner Rongsheng Petrochemical slid to seventh. Their revenue were CNY777.1 billion, CNY660.3 billion, and CNY658.6 billion, respectively.

The last three companies to make it in the top 10 were automaker Zhejiang Geely Holding Group, industrial group Shenghong Holding Group, and textile giant Weiqiao Pioneering Group. Geely reported revenue of CNY574.8 billion last year, climbing to eighth from 10th. Shenghong dropped to ninth from eighth, and Weiqiao Pioneering fell to 10th from ninth, with revenues of CNY565.6 billion and CNY558.5 billion, respectively.

The All-China Federation of Industry and Commerce polled 6,379 private Chinese firms with revenue of CNY1 billion (USD139.9 million) last year and inducted the top 500 in the list for this year.

The total business revenue of China’s 500 largest private companies reached CNY43.05 trillion (USD6.02 trillion) last year, with an average revenue per company of around CNY86.1 billion (USD12 billion), up 2.7 percent from 2023.

The number of firms whose business revenue exceeded CNY100 billion totaled 105, up from 97 in the period. Among them, 11 secured revenue of more than CNY500 billion, up from nine.

The total net profit of China’s top 500 private enterprises reached CNY1.8 trillion in 2024, with an average of about CNY3.6 billion each, up 6.5 percent from the previous year.

The number of companies with net profit exceeding CNY5 billion was 70, with those reporting net profit of over CNY10 billion and CNY20 billion reaching 34 and 19, respectively.

Editor: Futura Costaglione