Anhui's SOEs increase business revenue in H1

Anhui’s state-owned enterprises (SOEs) posted a 19.2 percent year-on-year increase in business revenue and a 16.3 percent rise in profit in the first half of 2021, according to the State-owned Assets Supervision and Administration Commission of Anhui Province.

The SOEs' revenue stood at 506.08 billion yuan ($78.24 billion), while their profits totaled 45.97 billion yuan in the Jan-Jun period.

Meanwhile, the net profit of those companies rose 19.1 percent year on year to 36.17 billion yuan.

Two local SOEs - Anhui Conch Group Co. and Tongling Nonferrous Metals Group Holding Co. - are on this year’s Fortune Global 500 list. They ranked 315th and 407th , up 52 and 49 notches from last year, respectively.

Since January, the provincial SOEs have overcome difficulties such as the lingering COVID-19 pandemic, the complicated international situation and the continuous rise in commodity prices.

The province ranked 7th in the country in terms of SOEs’ total business revenue between January and June. In addition, their net profit brought the province to the 3rd place nationwide.