On August 8, 2024, Weihai City in Shandong Province hosted the prestigious 2023 Top 50 Nonferrous Metal Enterprises Operating Revenue Conference, organized by the China Nonferrous Metals Industry Association. Mingtai Company continues its impressive streak, securing spots in the top 50 nonferrous metal enterprises for operating revenue and net profit for several consecutive years. In 2023, the company ranked 49th in operating revenue and 32nd in net profit.
The bottom line for the top 50 nonferrous metal enterprises in terms of operating revenue in 2023 surpassed 24.5 billion yuan. Notably, 19 of these enterprises achieved revenues exceeding 100 billion yuan, representing 38% of the total. Collectively, the top 50 enterprises generated a remarkable 6.2 trillion yuan in operating revenue, marking a 4.7% increase from the previous year. This amount accounted for approximately 78.5% of the total revenue of enterprises above the designated size, up by 2.9 percentage points from 2022. Although the top 50 nonferrous metal enterprises saw a 17% decrease in net profit to 198.1 billion yuan, all enterprises in the list remained profitable.
Over the past year, Mingtai Aluminum has demonstrated exceptional resilience and strategic prowess. By focusing on stabilizing orders, managing projects, controlling costs, mitigating risks, and enhancing management, the company has maintained its vitality amidst a sluggish global economy and challenging domestic market conditions. In 2023, Mingtai Aluminum made its debut in the top 500 private enterprises in China, ranking 14th among private companies in Henan Province. Additionally, the company jumped 11 places to 381st in the top 500 manufacturing enterprises in China, highlighting its robust growth and potential.
Mingtai Aluminum’s continued presence in the top 50 nonferrous metal enterprises for operating income is a testament to its ongoing reform efforts and commitment to high-quality development. Looking ahead, the company aims to follow a path of high-quality growth, striving to become a leading high-end, intelligent, and environmentally friendly enterprise. Mingtai Aluminum is dedicated to contributing to Chinese-style modernization through sustainable and innovative development practices.
