On December 9, Hurun Research Institute released the world's top 500, listing the world's top 500 non-state-owned enterprises, ranking them according to their market capitalization or valuation.。This is the third time in a row that Hurun Research Institute has released a list of the "Top 500 Hurun World".

The threshold for this year's Hurun Global Top 500s has dropped 23% from last year to $28 billion, or 203 billion yuan. The total value of the companies on the list fell 19%, or $11.1 trillion, to $47 trillion, or 340 trillion yuan, from last year. The value of 160 companies increased over last year, of which 68 were new to the list. The value of 340 enterprises has declined or remained the same compared with last year. Sixty-eight enterprises failed the list. 55% are direct to consumers, and 45% are B2B enterprises. 54% sell physical products and 46% sell software or services.

The US dominates the Hurun G500, with 260 companies, accounting for 52 per cent of the total and 65 per cent of the total value (221 trillion yuan). China ranks second, with 35 companies, accounting for 6% of the total value.

This year, China has dropped 16 enterprises, 4 are new to the list, and the total number is down 12. The four new companies on the list are Xiyin, WeBank, JD.com Technology and Tongwei. Failed companies include Kuaishou Technology, Anta, DiDi Global Inc., NIO Inc., Great Wall Motor and Gree Electric Appliances. The number of Chinese companies on the Hurun G500 was 51 two years ago, 47 last year and 35 this year. Companies that failed last year included two educational institutions, TAL Education Group and Zhonggong Education, financial platform Lufax Holding, as well as e-cigarette manufacturers Si Moore and Haidilao International Holding.

Hoogewerf said: "this year, the value of the Hurun Global 500 has shrunk by $11.1 trillion, losing all the value created last year, but it is still $7 billion higher than the value of the Hurun Global 500 two years ago. The only industry with strong growth isenergy, especially oil and gas companies. Other industries with slight growth or flat include chocolate, soft drinks and fast food. The most frustrated industry isRetail sales, especiallye-BuninessThe main reason is soaring inflation, which in turn is a drag on payment and delivery companies. In terms of countries, 80 per cent of the decline in value came from four countries: the US fell by $5 trillion, China by $2.9 trillion, and Germany and Japan by $600 billion each. In terms of industry, the decline of $8 trillion came from the media entertainment, retail, financial services, software and services and consumer goods industries. "

Who is in the top 10 of Jiaxing Economic Development Hurun World Top 2022?

The list showsThe top ten are all from the United States.

AppleIt topped the list with a value of 17 trillion yuan, down 3 per cent from last year when the list was released.

Microsoft CorpRanked second, worth 13 trillion yuan, down 15%.

Alphabet Inc-CL C parent companyAlphabetReplace Amazon.Com Inc in third place. UnionHealth Group, Johnson & Johnson, Exxon Mobil Corp and Visa IncNew to the top ten.

The total value of Apple Inc, Microsoft Corp, Alphabet and Amazon.Com Inc is down 17 per cent from last year, but it still accounts for 14 per cent of the total value of Hurun Global 500s.

The total value of the top 10 is 71 trillion yuan, down 10% from last year, but still accounts for 21% of the total value of the Hurun G500. Alphabet replaced Amazon.Com Inc in third place. UnitedHealth Group Inc Group, Johnson & Johnson, Exxon Mobil Corp and Visa Inc are new in the top ten. The top 10 exits were Meta (down 64 per cent to 13th) and three Chinese companies: Taiwan Semiconductor Manufacturing Co Ltd (down 44 per cent to 17th), Tencent (down 62 per cent to 26th) and BABA (down 71 per cent to 48th).The top ten are all from the United States.

Among them, Apple Inc, Microsoft Corp, Berkshire Hathaway and Exxon Mobil Corp are the only companies in the top 10 this year that were also in the top 10 a decade ago.

35 Chinese companies were on the list, 12 fewer, and 7 from Shenzhen were on the list, equaling Beijing for the first time

The list shows that the United States leads the world, adding 17 companies to the list, accounting for 52 percent of the total, with a total value of 221 trillion yuan, accounting for 65 percent.Second in China, 35 companies were on the list, a decrease of 12Followed by 28 in Japan, down 2, and 21 in the UK, down 3. India and Canada rose to fifth place, with 20 companies each on the list, an increase of eight and three respectively, surpassing France and Germany. France and Germany fell by 2 and 4 respectively to 17 and 16 respectively.

In terms of cities, 31 companies in New York entered the Hurun G500, followed by Tokyo, with 16, a decrease of 1. London ranked third with 15. Mumbai rose three places to fifth, while India's Ahmedabad was the fastest-growing city, thanks to four companies from Gautam Adani. San Francisco and San Jose were the cities with the biggest declines, with a decline of four each.There are seven Hurun G500 enterprises in Shenzhen, catching up with Beijing for the first time.Become the Chinese city with the largest number of Hurun G500 enterprises.

In terms of all continents, North America takes the lead with 281 companies, while Europe (101) overtakes Asia (100) in second place.

Energy companies have seen the largest increase in value, and media and entertainment companies have performed poorly over the past year

In the industry, "Media and entertainment companies have performed poorly over the past year, mainly because many companies have cut their advertising budgets in the face of economic uncertainty." The value of Meta fell 4.5 trillion yuan after it revealed that the number of daily active users fell for the first time ever and quarterly revenue fell for the first time. One of the biggest losers is Snap Inc, which was worth more than 600 billion yuan last year and fell completely out of the Hurun G500 list this year, mainly due to the increased influence of TikTok and the introduction of new privacy protection features by Apple Inc. "

Financial services is the industry with the largest number of companies in the Hurun G500, with a 14 per cent drop in total value, mainly due to a slowdown in consumer spending. The insurance company has experienced a relatively stable year, while Visa Inc, MasterCard and American Express Co, the three major credit card companies, have dropped 1/4 in value, while PayPal Holdings Inc, the payment company, has dropped more than 2/3 in value. "

"Energy companies have grown best this year, adding more than $1,000bn in value, with Exxon Mobil Corp, Chevron Corp and ConocoPhillips doubling in value."

Car companies have performed poorly this year, with their total value down 21 per cent. Tesla, Inc. is worth 4.9 trillion yuan, more than the next eight automakers combined. Toyota came in second, with Mercedes-Benz, BYD and South Korea's Hyundai overtaking Volkswagen in the year it broke up Porsche. "

The total value of the consumer goods industry has fallen by 31% this year. Dell Technology fell off the list. Apple Inc is the only company whose value remains the same, down only 3%, XIAOMI is down 2/3, and Japan's Nintendo is down 1/3. Competition for chips is one of the factors. "

The total value of the real estate sector fell by 35%, mainly due to soaring lending rates and economic uncertainty. Resistance from high inflation and geopolitical tensions is stalling the expansion of property companies. This year, seven real estate companies around the world have entered the Hurun G500, of which Hong Kong Sun Hung Kai is the only one in China. Over the past few decades, the process of urbanization in China has promoted the development and growth of the real estate market. But Hong Kong's Sun Hung Kai is the only real estate company on the Hurun G500 in the past two years, and the only real estate company on the list in mainland China in the past three years is Longhu. "

After last year's boom, partly due to a global chip shortage, the total value of the semiconductor industry has fallen by 29 per cent as the global economy weakens, which is expected to have an impact on sales of new cars, personal computers and mobile phones. Taiwan Semiconductor Manufacturing Co Ltd, headquartered in Taiwan, and NVIDIA Corp, headquartered in California, have lost more than 2.9 trillion of their value, leaving a little more than 2.2 trillion each. Intel Corp fell by 50%. "

Newly listed enterprises

Among 68 new entrants to the Hurun G500, Pioneer Natural Resources, an American energy company, directly leapt into the top 200th with a value of 457 billion yuan. Among them, 24 companies were established after 2000.

The energy industry topped the list with 21 new companies, followed by 14 financial services, 7 retail and 5 catering. From a national point of view, 43 are from the United States, followed by 9 in India, 4 in China and 4 in Canada.

Four companies controlled by Gautam Adani, India's richest man, are among the Hurun G500 for the first time: Adani Enterprises worth 334 billion yuan, Adani Transmission worth 319 billion yuan, Adani Total Gas worth 312 billion yuan and Adani Green Energy worth 290 billion yuan.

Four Chinese companies are newly on the list: fast fashion cross-border e-commerce company Xiyin (valued at 290 billion yuan), WeBank (valued at 239 billion yuan), JD.com Technology and Tongwei (valued at 218 billion yuan).

Other new entrants to the list include Databricks of the United States, the cryptocurrency Exchange currency Security (valued at 290 billion yuan) and Hilton Hotels, and Yum's return to the Hurun G500. For a complete list of new enterprises on the list, see the appendix.

Enterprises that fail the list

68 companies failed, although the threshold fell to $28 billion (203 billion yuan) from $36.6 billion (236.8 billion yuan) last year.

Video conference platformZoom(last year's value6,920100 million yuan, ranking the first place134Are the biggest losers, followed by those based in CaliforniaSnap IncAnd Kuaishou Technology, a short video platform based in Beijing.Wuxi Biologics in this year2After being added to the "unverified list" by the U.S. Department of Commerce in April,, the value fell70%More. Adidas is in the doldrums in sales and "Kanye"Kanye WestAgainst the backdrop of ending cooperation and China's poor performance, it has been difficult. Dell's share price fell mainly due to the divestiture of cloud computing software makersVMware 81%Shares of (VMware以3,410The value of 100 million yuan ranks Hurun.G500前300First name). The value of NIO Inc. fell because his income was lower than expected.73%. Under the background of repeated domestic epidemic and weak consumption, domestic sportswear brands are under great pressure, and the value of Anta is declining.58%。

Other companies that failed included the cryptocurrency exchanges Coinbase and DoorDash. So far, DoorDash has failed to turn the success of the epidemic into profitability, which has raised questions about its profitability. A complete list of failed enterprises can be found in the appendix.

From a national point of view, there are 25 companies in the United States, 16 in China, 4 in Germany and 4 in the UK, and 3 in Japan, Sweden and Switzerland.

From the perspective of the industry, 10 companies in the software and service industry failed, followed by 8 in financial services, 7 in health care and 7 in media and entertainment.

Hoogewerf also interpreted these

There are more than 300 enterprises in the Hurun G500 in China, of which 35 are Chinese enterprises, and the others are non-Chinese enterprises with regional headquarters in China. Ninety percent of these non-Chinese companies currently have their Chinese headquarters in Shanghai and Beijing. These non-Chinese enterprises first have a headquarters in China, and below there are one or more bases in China, such as production bases, R & D centers and other different business headquarters, as well as regional headquarters in east, south, west, east and west, and regional headquarters in major subsidiaries. there are also the headquarters of major investment projects, and then there are sales networks distributed in major cities. These Hurun G500 enterprises have great economic power, and local governments can cooperate with these enterprises in different ways. "

The concentration of economic influence has attracted the attention of governments all over the world. China's anti-monopoly and 'housing speculation' policy has a profound impact on the Internet platform and real estate enterprises. " The report of the 20th CPC National Congress pointed out that we should build a high-level socialist market economic system, strengthen anti-monopoly and unfair competition, eliminate local protection and administrative monopoly, and standardize and guide the healthy development of capital in accordance with the law.

"creating a Hurun G500 is a high achievement for anyone, but four people have created more than one, two of whom own four Hurun G500 companies. Elon Musk, who created Tesla, Inc., SpaceX and PayPal Holdings Inc, has just acquired a fourth: Twitter. The other is Gautam Adani of India, with four new companies on the list this year. Perhaps it is not surprising that Musk and Adani are the two richest people in the world. The other two are from China: Ma Yun and Liu Qiangdong, Ma Yun created BABA and Ant Group, Liu Qiangdong created JD.com Group and JD.com Technology. "

"one of the weirdest stories of the past year belongs to a company that is not on the Hurun G500 this year, and it was not on last year's list. In August, Hong Kong-based AMTD Digital soared from a $1.5 billion IPO price to a value of $500 billion, making it one of the world's top 10 most valuable companies in a short time, before falling out of the list and is now worth $4 billion. "

"value may be the best way to measure a company's economic strength, because value takes into account not only the company's current performance, but also the company's future potential. In my opinion, if the 'value' of a company is $30 billion, it means that investors believe it will make a profit of $30 billion within a decade. Value will change with the emergence of new situations such as war, inflation, government data, regulations and public sentiment. "

The total value of the Hurun G500 this year is 340 trillion yuan, which means that investors believe these companies will generate 340 trillion profits within 10 years, and on average, each company will generate 680 billion profits within 10 years. For example, the profit of Apple Inc, which is worth 17 trillion at the top of our list, reached 650 billion yuan last year, and investors believe it will generate another 17 trillion profits in the next decade. "