On July 25, 2024, the 2024 Fortune China 500 ranking was officially unveiled, and Satellite Group, with a revenue of USD 12.14 billion, once again entered the list and ascended to the 228th—a notable leap of 14 ranks from the previous year, which demonstrated the company's strong momentum of development and competitiveness in the market.
The Fortune China 500 ranking is one of the most important yardsticks for measuring the business performance and competitiveness of Chinese enterprises. The list is based on the business revenue of enterprises in the previous year and covers leading enterprises in various industries. The listing on the Fortune China 500 ranking is not only an affirmation of Satellite Group's achievements in the past year, but also a recognition of the company's future development potential.
As a leading domestic science and technology enterprise of new chemical materials, Satellite Group's products are widely used in many high-end fields such as aerospace, digital chips, new energy vehicles, medical and health care, and are exported to more than 100 countries and regions around the world, making Satellite Group a frontrunner in the field of new chemical materials in China.
In the past year, amidst external uncertainties, Satellite Group remained steadfast in its mission of “Chemicals make a better life" and the development strategy of "building a low-carbon chemical company with new technology materials based on the light hydrocarbons", deepened its strategy of "technology leadership" and "management leadership", culminating in remarkable strides across scientific and technological innovation, market expansion, and brand enhancement. The company adheres to the innovation-driven development strategy, continuously increases investment in R&D, promotes product technology upgrading and industry chain extension, accelerates the layout of downstream high-end new chemical materials. This continuous extension, reinforcement, and supplementation of the value chain propels the industry towards high-end, eco-friendly development. Additionally, Satellite Group actively expands its domestic and international footprint, fostering enhanced collaboration and dialogue with upstream and downstream partners, thereby further solidifying its market standing.
In addition, Satellite Group actively responds to the national "carbon peaking and carbon neutrality" strategy, promoting lightweight petrochemical raw materials and green low-carbon development. It creates new quality productive forces and attains sustainable growth driven by scientific and technological innovation as well as green low-carbon.
