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Chery Holding Group ranks 168th on 2023 Fortune China 500 List

Gabriella From Gasgoo| July 26 , 2023 17:19 BJT

Beijing (Gasgoo)- The 2023 Fortune China 500 list was unveiled on July 25, featuring both public and non-public enterprises that applied for the ranking this year. Making its debut on the list, Chery Holding Group, with a revenue of $22.3015 billion, secured the 168th position. 

Chery Holding Group ranks 168th on 2023 Fortune China 500 List

Photo credit: Chery Holding

According to Fortune China, the ranking methodology follows the tradition of Fortune Global 500, considering the companies' revenue to rank the largest enterprises in China. The 500 listed Chinese companies collectively achieved a total revenue of $15 trillion in 2022, with a net profit of $717.1 billion.

Among the 15 automotive companies listed on the 2023 Fortune China 500, only 7 achieved revenue growth in 2022. Chery Holding stood out as one of the few automakers with a remarkable revenue increase of 48%. In 2022, Chery Holding achieved its best performance to date, achieving historic milestones in annual revenue, sales volume, exports, and sales of new energy vehicles. 

Entering 2023, the automaker continued its upward trajectory, reporting 740,000 units of vehicles sold in the first half of the year, marking a 56% year-on-year leap. The company's revenue also surged to 127.4 billion yuan, representing a 49% surge from a year ago. 

Notably, behind the sustained growth in sales and revenue, Chery Holding has been actively unveiling new strategies, brands, and technologies, showcasing its comprehensive strength in strategic upgrades and technological advancements. Driven by its ambitious goals, Chery aims to achieve significant growth in key operational indicators in 2023, elevate the company's status, and strive to break into the ranks of the Fortune Global 500.

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