World renowned magazine Forbes has listed and ranked the Country Garden Group as number 111 on its 2020 Global 2000 list – the top 2000 largest public companies in the world.
The Group bagged the coveted spot after reporting USD70.1 billion in sales, USD5.7 billion in profits, USD273.8 billion in total assets, and USD27.8 billion in market value, in 2019. Last year, Forbes placed the Group at number 129.
The Country Garden Group has been on the Global 2000 since year 2010, and has been moving upwards on the list for 11 consecutive years, showing strong growth momentum.
Forbes’ Global 2000 as well as the Fortune 500 have been widely recognised as the world’s most authoritative lists of the largest commercial companies globally. Forbes ranks the companies on its yearly list by taking into consideration four major indicators: sales, profits, total assets, and market value – through which it comprehensively selects the largest and most powerful listed companies in the world.
In this year’s list, Chinese firms make up 367 of the companies listed – a significant increase from the 58 Chinese companies listed last year. Of the 367 firms, 266 are from mainland China, while 58 are from Hong Kong, and 43 are from Taiwan.
The Forbes report also shows that in 2019, Country Garden’s contract value to realise the equity of the company’s shareholders amounted to about RMB552.2 billion, while reporting about RMB485.91 billion in revenue – and showed a 10% and 28.2% year-on-year increase respectively – as the Group maintains its pole position in the industry.
Country Garden’s high-quality work as a developer is well established and recognised. Last year, the company was ranked 177 on the Fortune 500 list, and was noted as the fastest rising company that year.
At present, Country Garden has been awarded investment grade BBB- corporate credit rating by Fitch Ratings, while Standard & Poor’s and Moody’s have given the Group BB+ and Ba1 ratings respectively. In August 2019, Moody’s raised its outlook on Country Garden from “stable” to “positive”, reflecting the market’s confidence in Country Garden Group’s future growth.