State Grid

It wasn't an electric year for State Grid, China’s state-owned power company, as sales dipped just under 1% in 2019. Beijing appointed Mao Weiming as State Grid's chairman at the start of 2020, marking the first time the massive utility has been led by a chairman with no prior experience in the industry. Mao’s predecessor reportedly had objected to a government plan last year that guaranteed the power company would purchase clean energy from operators of renewable power plants. The program is tied to China's effort to green its electricity supply, but it could put a squeeze on State Grid’s profit margins. Mao is thought to be more amenable to the plan. Meanwhile, as China battles its way out of the economic slump caused by the pandemic, coal-fired power generation remains king for State Grid—at least for now.
G500-2020-003-State-Grid
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Company Information

As of 8/3/2022
Country
China
Headquarters
Beijing
Industry
Utilities
CEO
Xin Baoan
Company Type
Private
Ticker
-
Revenues ($M)
$460,616.9
Profits ($M)
$7,137.8
Market Value ($M)
-
Employees
871,145
Government owned 50% or more.

Key Financials (Last Fiscal Year)

($ Millions)
% change
Revenues ($M)
$460,616.9
19.1%
Profits ($M)
$7,137.8
27.9%
Assets ($M)
$735,429.9
-
Total Stockholder Equity ($M)
$310,243
-

Profit Ratios

Profit as % of Revenues
1.5%
Profits as % of Assets
1%
Profits as % of Stockholder Equity
2.3%
Lists ranking State Grid
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