On July 25, Fortune China, the Chinese version of Fortune Magazine, announced the list of China’s top 500 companies for 2024. This year, only two public companies in the financial leasing industry made the list. CDB Leasing, one of the two, ranked among the list for a second consecutive year.
It is reported that Fortune China for 2024 adopts the same list-making methodology as that of the Fortune Global 500, both including listed and non-listed companies. Companies that made this year’s list each generated a minimum of about USD3.74 billion in annual revenue, gaining by some 9% year on year. The combined revenue of these 500 companies is equivalent to more than 81% of China’s GDP in the year. Subject to appraisal and election, CDB Leasing elbowed once more its way among Fortune China’s top 500 companies, thanks to its remarkable operating performance and revenue-generating capacity.
CDB Leasing, known as the sole leasing business platform under China Development Bank, is the first financial leasing company in China to secure listing. As a leading company in China’s financial leasing sector, CDB Leasing, since its listing, has seen a steady rise in assets and profits, and an increasingly improved financing structure. CDB Leasing takes full advantage of opportunities to grow its business, proactively pursues business innovation, and continuously improves internal operation and management, while strengthening risk and compliance management systems and cementing the foundation for business operations. Its exceptional performance has invited full recognition from the market and the industry. As of the end of 2023, the Company boasted RMB409.695 billion worth of total assets, a 15.5% year-on-year increase, generated RMB26.655 billion in revenue, up 6.4% year on year, and realized a net profit of RMB4.15 billion, gaining by 23.8% from the year before. Furthermore, the Company sustains its leadership role in China’s leasing sector with such high-level international ratings as A1 by Moody’s, A by Standard & Poors, and A+ by Fitch.
The inclusion in the latest Fortune China’s top 500 companies justifies the performance of CDB Leasing. In an effort to build a world-class financial leasing company, in 2024, CDB Leasing will work harder to improve its business structure and pursue innovation in transformation, prioritize developing new quality productive forces, facilitate the Chinese path to modernization, and continue to deliver greater value to shareholders, customers, employees, and society.
