Top 20 Chinese private companies 2012
- By Zhang Junmian
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E-mail China.org.cn, September 6, 2012
Shandong Weiqiao Pioneering Group 山东魏桥创业集团有限公司
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Shandong Weiqiao Pioneering Group [iqilu.com] |
Ranking 2012: 5; Revenue 2011: 161 billion yuan (US$25.6 billion)
Ranking 2011: NA; Revenue 2010: NA
Sector: Textile
Headquarters: Shandong
Website: http://www.weiqiaocy.com/en/eindex.aspx
Founded in 1981, Shandong Weiqiao Pioneering Group is China's most competitive enterprise in the industry of cotton and chemical fiber textile manufacturing. It's also the biggest cotton textile maker in the world. The business, located in Zouping County, Shandong Province, operates businesses in cotton processing, spinning and weaving, dyeing and finishing, garments, home textiles, heat electricity and the aluminum industry. Weiqiao's assets are valued at 81.8 billion yuan (US$13 billion). Its subsidiary, Weiqiao Textile, went public in Hong Kong in 2003. In 2011, Weiqiao reported 161 billion yuan (US$25.6 billion) in revenue and 7.3 billion yuan (US$1.2 billion) in net profits. In 2012, it ranked 64th among the top 500 Chinese companies and 440th among Fortune's Global 500.
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