GCL Ranked 38th in the Listed 2022 Top 500 Chinese Energy Enterprises
GCL Group ranked 38th in the "2022 China Energy Enterprises/Groups Top 500 List" released by China Energy News.
An analysis by China Energy News says that 2021 had been a phase of an overall recovery for the global economy while China's economy has been serving as the engine of the global growth. Accompanied with the global recovery are the rising energy demand and the rapid development of clean energy. As the contradiction between energy supply and demand is prominent, the prices of coal, oil, gas and other commodities have risen sharply across the board. This has raised up the revenue scale of China's energy enterprises/groups in 2022 and caused its market concentration to soar. The gap between state-owned enterprises and private enterprises has been further narrowed. The traditional energy industry has been back in the ascending curve and new energy is catching up rapidly. However, the development gap between regions is widening.
In 2022, the top 500 China Energy Enterprises/Groups (hereinafter referred to as the "top 500") has generated a total revenue of 27.87 trillion yuan, an increase of 5.2 trillion yuan over the previous year, a year-on-year increase of 22.93%, the highest growth rate in the last nine years.
The total revenue of the top 50 has reached 23.49 trillion yuan, accounting for 84.30% of the total revenue of the "Top 500", an increase of 8.89% over 2021, and exceeding the 80% share for the first time.
Three enterprises/groups have reached the trillion-scale threshold in terms of its revenue scale and they are the State Grid Corporation of China, China National Petroleum Corporation Limited, and China Petroleum and Chemical Corporation. 43 companies have generated over 100 billion yuan, compared with 40 companies in 2021. 204 companies have made above 10 billion yuan, a growth of 42 in number than the previous year, with the number exceeding 200 for the first time. The higher the development, the more difficult it is for the enterprise to strive upward.