Forty-six Guangdong enterprises including Huawei, BYD, and Ruisheng Technology were selected as the 2024 Top 500 Private Manufacturing Enterprises in China

The Zhitong Finance App learned that recently, the All-China Federation of Industry and Commerce released the “2024 Top 500 Private Enterprises in China's Manufacturing Industry” list. 46 Guangdong enterprises including Huawei, BYD, and Ruisheng Technology are on the list, ranking among the highest in the country.

(Excerpt from Guangdong Enterprises of China's Top 500 Manufacturing Companies Listed in 2024)

This is the 26th large-scale private enterprise survey organized by the All-China Federation of Industry and Commerce. A total of 9,642 enterprises with revenue of 500 million yuan or more in 2023 participated. Among them, the entry threshold for the top 500 manufacturing private enterprises was 14.612 billion yuan, a slight increase over the previous year.

It is worth noting that in the field of high-precision precision components, Ruisheng Technology (02018) from Shenzhen is the only comprehensive enterprise spanning the fields of acoustics, optics, touch, sensors and semiconductors. This year, with a revenue scale of 20.42 billion yuan, the company was once again selected for the top 500 private manufacturing enterprises in China. This is the sixth year in a row that Ruisheng Technology has been on this list.

According to data, Ruisheng Technology was founded in 1993 and is a leading global precision manufacturing enterprise. It has been rated by the Ministry of Industry and Information Technology as a single champion demonstration enterprise in the Chinese manufacturing industry for many years in the three fields of miniature acoustics, tactile feedback, and MEMS microphones. The products are used in human-computer interaction fields such as mobile phones, automobiles, AR/VR, smart wearables, and smart homes.

Ruisheng Technology's revenue for the first half of 2024 was RMB 11.25 billion, up 22.0% year on year, gross margin was 21.5%, up 7.4 percentage points year on year, and net profit was RMB 537 million, up 257.3% year on year. Profitability increased significantly, and gross margins of all business lines continued to grow.

Guo Dan, CFO of Ruisheng Technology, said in an interview with the media that the Group's revenue is expected to increase by more than 30% year-on-year in 2024, with gross margin in the 22%-25% range.