The Zhejiang Provincial Industry and Commerce Bureau and the Provincial Private Enterprise Development Association jointly announced the “2016 Top 100 Private Enterprises in Zhejiang Provinceâ€. Youngor led 16 private enterprises in Ningbo, and Youngor, Oaks, Yinyi, Jintian and Zhongji entered the top 20 list.
Judging from this year's list, the top 100 entry thresholds have once again increased, surpassing the 10 billion mark for the first time, reaching 10.753 billion yuan. Compared with the threshold of 11.704 billion yuan for the top 100 Zhejiang enterprises listed at the end of October, the gap has narrowed again, reflecting the strong competitiveness of private enterprises. The top three companies are Geely Holding, Hailiang Group and Wanxiang Group. The three companies' sales revenue in 2015 exceeded 100 billion yuan.
Ningbo has always been one of the most developed private economy in the province and even the whole country. The number of private enterprises in the city accounts for 99% of all market entities in the city. The private economy contributes nearly 80% of GDP, more than 75% of tax revenue, and about 55%. The export provides more than 85% of social employment . Younger, the “big boss†of Ningbo private enterprises, ranked 9th in the total ranking with 94.48 billion yuan of revenue this year. Oaks and Yinyi followed closely, ranking 12th and 13th.
Throughout the 16 listed companies in Ningbo, through foreign investment, mergers and acquisitions, and quickly catch up with market demand, diversification has become their key to success. In March of this year, Yinyi shares (000,981 shares), which had been suspended for nearly half a year, announced a major asset restructuring plan. The company plans to adopt a method of issuing shares to purchase 100% of the shares of Ningbo Yusheng held by Tibet Yinyi. After the completion of this transaction, the company will hold 100% equity of Ningbo Shengsheng, and will indirectly hold the relevant assets of the US ARC Group through Ningbo Shengsheng. The new model of Yinyi “real estate + automobile†has taken shape.
At the same time, through the supply side reform, some old brands have also renewed their vitality. At the end of the 20th Ningbo Fashion Festival, Youngor’s head Li Rucheng shouted the rhetoric of “recreating a Youngor in five yearsâ€. The company has signed contracts with five top fabric manufacturers from Italy, ARBINI, ERMENEGILDO ZEGNA, LORO PIANA, CERRUTI 1881 and ALUMO from Switzerland, and plans to build Youngor's MAYOR brand as the top brand in the domestic market. In addition, Youngor will invest 10 billion yuan in the next five years to strengthen innovation in new materials , new fabrics, new processes, new brands and new services, and win more market space.
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