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On September 7, Hurun Research Institute released "2023 Hurun China Energy Private Enterprises TOP 100", listing the top 100 Chinese private enterprises with the most value in traditional energy and new energy industries.  CATL with 1 trillion yuan to become China's energy industry's highest value of private enterprises, BYD with 700 billion ranked second, lixiang Automobile with 300 billion ranked third; five photovoltaic companies, LONGi Green Energy, Sungrow , Tongwei shares, JA Solar, TCL Central entered the top ten.

First release of the list

"A Chinese company that can enter the top 10 private companies in the global energy industry is CATL, which is worth one trillion dollars, but in terms of new energy, CATL ranks second in the world. The highest-valued private enterprise in the global energy industry is Tesla, worth 5.7 trillion yuan, followed by ExxonMobil, Chevrolet and Dutch Shell, among others." Hurun, chairman and chief research officer of Hurun Report, said.

This is the first time the Hurun Research Institute has released the list. the top 100 threshold of 17 billion, the top 50 threshold of 34 billion, the top 30 threshold of 57 billion and the top 10 threshold of 110 billion. There are 13 companies on the list with a value of more than 100 billion, located in 13 different cities.

"The strength of the northern enterprises is in traditional energy, and the strength of the southern enterprises is in new energy. 9 of the 11 traditional energy enterprises are located in northern cities, and 78 of the 89 new energy enterprises are located in southern cities." Hurun said.

Hurun's aforementioned list also showed that the largest number of companies are headquartered in Shenzhen, with 11; followed by four Yangtze River Delta cities, with seven in Wuxi, six each in Shanghai, Ningbo and Suzhou; and five in Beijing.

Photovoltaic companies on the list the most

The photovoltaic industry has the most companies on the list, with 34; followed by the battery industry, with 29; the new energy vehicle industry is third, with 12; the wind power industry and energy metals have seven each; energy chemicals and oil and gas have four each; and the coal industry has three.

"Photovoltaic companies are on the list the most, 34. Last year, China's photovoltaic (silicon wafers, cells and modules) exports totaled about 370 billion yuan, up 80 percent year-on-year. Three of the world's top five PV companies are in China, namely LONGi Green Energy, SunGrow and Tongwei. Batteries have 29 on the list, CATL used just seven years to become the world's No. 1 power battery maker, and is now worth almost as much as the sum of the other 28 companies on the list, with last year's revenue of more than 320 billion yuan. There are 12 new energy vehicles on the list, including electric cars and electric two-wheelers. Globally, BYD's enterprise value is second only to Tesla's, with BYD's entire lineup selling more than 1.86 million units last year." Hurun said.

Hurun also mentioned, "There are 13 companies on the list with a value of over $100 billion, and these 13 companies are headquartered in 13 different cities, which is very rare in our various lists. In some of our technology lists released this year, the advantages of the five cities of North, Shanghai, Guangzhou, Shenzhen and Hangzhou are more obvious, and the enterprises from these five cities accounted for 64% in the Hurun China Meta-Universe Potential Enterprises List, 70% of the Chinese enterprises in the Hurun Global Unicorns List, 76% in the Hurun China Algorithmic Arithmetic Power of Digital Technology Top 100 List, and 90% in the Hurun China Industrial Internet Top 30. 90%. However, the combined share of the five cities of North, Shanghai, Guangzhou, Shenzhen and Hangzhou is only 28% on this Hurun China Energy Private Enterprises Top 100."

The state of industrial agglomeration in East China is obvious

In Hurun's opinion, "Why are there opportunities in all cities? Because the energy industry covers a wide range of areas, and the advantages of each region are different. Some regions have geographical advantages, for example, high altitude, thin air in Northwest China, the weakening effect of solar radiation is small, while Northwest China has little rainfall and abundant light resources, suitable for the development of photovoltaic industry, so Xi'an fostered LONGi Green Energy (ranked 4th); some regions have natural resource advantages, for example, Jiangxi has abundant lithium reserves, so Ganfeng Lithium (ranked 12th); Some cities have the advantage of industrial foundation, for example, Sichuan started to research polysilicon in the 1960s, so it slowly cultivated Tongwei (ranked 7th); some cities have a complete science and technology ecology, which is more favorable to the development of system-level products, for example, BYD in Shenzhen (ranked 2nd), Ideal Automobile in Beijing (ranked 3rd), and Azure Automobile in Shanghai (ranked 8th). "

Hurun also added, "However, it is not that China's energy industry is just evenly distributed everywhere. Comparatively speaking, the state of industry agglomeration is more obvious in East China, contributing 53% of the companies on the list, especially in the Yangtze River Delta, which accounts for 43% of the list."