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CNBM ranked among Fortune Global 500 for sixth consecutive year

Source: CNBM

Date: July 22, 2016

On July 20, the 2016 list of Fortune Global 500 was released. Affected by the continuous slowdown of the global economy, the listing threshold was 20.92 billion US dollars, down 11.8 percent from last year. China National Building Materials Group Corporation (CNBM) positively coped with the complex economic situation, initiatively adjusted its business structure and moderately lowered its revenue target with focus on profit, and achieved operating revenues of 31.71 billion US dollars, thus being ranked 327th among Fortune Global 500, and making the list for the sixth consecutive year as the only enterprise from China's building materials industry. Other building materials enterprises listed include Saint-Gobain ranked 196th, CRH ranked 411th and Lafarge-Holcim ranked 438th.

As a central building materials enterprise in the full competition field, over the past decade, under the wise leadership of the State-owned Assets Supervision and Administration Commission of the State Council, under the supervision and guidance of the Board of Supervisors, under the strong leadership of the Board of Directors led by Chairman Song Zhiping, with the concerted efforts of the group's business bodies at all levels and all cadres and staff, CNBM has adhered to a clear strategy, firmly followed the road of marketization, and constantly deepened reform and innovation, so as to achieve a leap, with the compound annual growth rate of sales revenues and profit exceeding 40 percent both, several of its industries ranked first in China and the world, its core competitiveness and industrial status growing constantly and its comprehensive strength continuing to rise. In 2015, facing the severe and complex business environment under new normal, especially the impact from economic slowdown, overcapacity, demand insufficiency and price downturn, with focus on quality and benefit, CNBM has continued to deepen reform, accelerated transformation and development, strengthened basic management, maintained continuous and healthy growth, and made new progress in all work.

In the first half of 2016, the reform and innovative development of CNBM entered a new and better stage. After being accredited as a "double pilot" enterprise for state-owned enterprise reform, CNBM has recently been listed as a pilot enterprise for the merger and acquisition of central enterprises and the performance of functions and powers of the Board of Directors. With "three curves" as the direction of transformation and development, CNBM has advanced structural adjustment, transformation and upgrading in an all-round manner. CNBM's "three-new" industries contributed a profit of three billion yuan last year and a profit of nearly 1.8 billion yuan in the first half of this year, showing that CNBM's profitability is growing rapidly. In the future, CNBM will continue to improve quality and efficiency unremittingly, make reform and innovation perseveringly, cultivate the new power for growth vigorously while consolidating the existing advantage, and endeavor to open a new era for corporate development.

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