On August 2, 2023, the official Fortune Global 500 list was released, including 142 Chinese companies. China ranked first in terms of number of companies on the list, surpassing the United States for the fifth year in a row.

GAC has been on the list for 11 consecutive years, with its most recent ranking of 165^th, up 21 places from last year, setting a new record.

 

GAC Group Ranked 165^th on the Fortune Global 500 List

 

 

Public data shows that GAC Group’s business revenue on an aggregate basis in 2022 was RMB 514.605 billion, up 19.74% year-on-year; business revenue on a consolidated basis was RMB 110.006 billion, up 45.36%. The net profit attributable to shareholders was RMB 8.068 billion, a year-on-year increase of 10.00%. Owing to this quickly-growing revenue, GAC Group’s ranking on the Fortune Global 500 list reached a new high.

At the end of 2022, GAC Group released the Trillion GAC blueprint for 2030 (the “Trillion GAC 1578 Development Outline”). By propelling five growth forces, fortifying seven segments, and implementing eight actions, GAC Group aspires to become a world-class tech company with outstanding products and brands, leading innovation, and modern governance, with production and sales of over 4.75 million vehicles, revenue of RMB 1 trillion, and profit and tax of RMB 100 billion.

 

Trillion GAC 1578 Development Outline

 

This rise in ranking demonstrates the outcomes of GAC Group’s high-quality development, and further expands the international influence of Chinese automotive manufacturers. Next, with the “Trillion GAC” target, GAC Group will continue to grasp the opportunities of the era and claim the high ground in the sector of intelligent new energy vehicles.