A total of 15 companies from Nanshan District have entered the latest Fortune China 500 list, which was released by business magazine Fortune on July 25.

Tencent, a world-leading internet and technology company headquartered in Nanshan, showed the highest net profit.

Fortune magazine, renowned in the United States for its annual Fortune Global 500 list, has also compiled the Fortune China 500 list for over a decade. This list has become an invaluable resource for tracking the growth and evolution of Chinese businesses and industries.

The collective operating revenue of the Chinese companies featured on this year’s list reached US$14.6 trillion in 2023, marking a 3% decline from the previous year’s list. Their combined net profit totals US$706.4 billion, a 1.5% reduction year on year. 

The revenue threshold for inclusion on the 2023 list was set at approximately US$3.74 billion, a 9% increase from the 2022 threshold. In terms of economic scale, the total revenue of these 500 companies surpasses 81% of China’s GDP for 2023, which stood at US$17.89 trillion.

Geographically, Guangdong Province boasts 73 companies on the list, up three from last year. Shenzhen, accounting for half of Guangdong’s representation, is home to 39 of these enterprises. 

Within Shenzhen, Nanshan leads with 15 companies, followed by Futian with 12, Bao’an with 5, Luohu and Longgang with 2 each, and Longhua and Yantian with one each.

When it comes to profitability, five Shenzhen-based companies — China Merchants Bank, Tencent Holdings, Huawei, Ping An Insurance, and BYD — are among the 40 most profitable in 2024. China Merchants Bank emerges as the top earner. 

In the ranking of net profit margins in 2024, three Shenzhen companies stand out: Mindray Medical, China Merchants Bank, and Tencent Holdings. Notably, Mindray Medical claims the highest net profit margin among Shenzhen’s contingent.