XIAO MI is the 53^rd new entrant to the Top 500 Enterprises of China, and Midea leads the appliance industry.

On the evening of July 10, the Top 500 Enterprises of China list was released by Fortune Magazine on the FORTUNEchina.com. The Fortune Magazine pointed out that the cumulative income of the Top 500 Enterprises of China hit a new high, with the total operating income of the listed companies reaching RMB45.5 trillion this year, an increase of 14.8% over the same period of last year, and the profits reaching RMB3.625 trillion, an increase of 4.21% over the same period of last year. However, the increase slows down compared with the 24.24% due to the macroeconomic impact in 2018.

The annual revenue threshold for companies on this year's list is RMB16.238 billion.

Notably, XIAO MI, failed to make the list in 2018, ranked 53^rd with the revenue of RMB174.915 billion in this year. The 2018 financial report said the main sources of XIAO MI's revenue as follows: One is smartphones, the other is IoT and consumer products. XIAO MI's smartphone revenue in 2018 was about RMB113.8 billion with the year-on-year growth of 41.3%. Income from IoT and consumer products increased by 86.9% from RMB23.4 billion in 2017 to RMB43.8 billion in 2018. Strong growth in demand for several hot-selling products, including smart TVs, MI bracelets, XIAO MI air purifiers and XIAO MI electric scooters is the main driver of sales.

Suning and Gome still rank in the top 500 for their comprehensive retail platforms focusing on home appliance retailing. Suning moved up five places from the previous year and ranked 39^th with a revenue of RMB244.956 billion. Compared with last year, Gome fell 31 places from the ranking of 143^rd with the revenue of RMB64.356 billion at a loss.

Midea ranks 36^th on the list with a revenue of RMB261.819 billion, making it the leading enterprise in the domestic household appliance industry. Gree, Haier, TCL, Changhong, Konka, Hisense, Skyworth and Joyson remain in the top 500.

For home furniture and furnishing enterprises, no enterprises in the top 500 as now, Red Star Macalline is expected to rank the top 500 list.

OPPEIN's total revenue in 2018 was RMB11.331 billion, while Red Star Macalline's was RMB14.239 billion, compared with RMB16.238 billion for this year. Take the revenue threshold of this year's top companies as an example, OPPEIN with RMB4.907 billion away from the top 500 companies, while Red Star Macalline is RMB1.999 billion.

From 2016 to 2018, Red Star Macalline has maintained a relatively stable growth, especially in 2018, due to the steady development of self-owned/leased shopping malls and entrusted shopping malls, as well as the substantial growth of construction and design business, resulting in the growth of annual revenue.

Owned/leased shopping malls increased by 12.1% from RMB6.394 billion in 2017 to RMB7.168 billion in 2018, with nine new self-operated shopping malls added. Under the rising trend of growth, there is the great possibility that Red Star Macalline climbs on the top 500.

Notes: The list, compiled by Fortune Magazine (Chinese version) in collaboration with CICC's wealth management department, covers all Chinese companies listed in and outside China. The list is based on the official disclosure of listed companies on various stock exchanges, with a deadline of May 31, 2019.