Staff members at Huayang Group's Huana Xinneng Technology Co conduct loading operations in the PACK workshop. [Photo/Shanxi news network]

On Sept 11, the China Enterprise Federation and the China Entrepreneur Association released the 2024 list of China's Top 500 Enterprises, with Huayang Group securing the 376th position. This ranking reflects the company's impressive revenue of 64.65 billion yuan ($9.17 billion) in 2023.

As the threshold for entry into the Top 500 continues to rise, Huayang's achievement underscores the rapid growth of Chinese enterprises. The total revenue of the Top 500 reached 110.07 trillion yuan, a 1.58 percent increase from the previous year, with the entry threshold set at 47.38 billion yuan.

Over the past year, Huayang Group has actively implemented its "dual-drive" development strategy, focusing on coal while expanding into new energy and materials sectors. It is advancing projects in sodium-ion battery production, nanofiber air purification materials, and biodegradable plastics. The company also aims to enhance safety capabilities and efficiency through initiatives like the "Eight Special Teams".

This strategic focus on innovation aligns with the broader trend among leading enterprises, which increased their research and development spending to 1.81 trillion yuan, marking a 14.89 percent rise. Huayang Group's commitment to high-quality development positions it as a key player in China's modernization efforts and enhances its core competitiveness in the evolving market landscape.