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Fortune Magazine released the latest “Fortune Global 500” list on July 22, 2015. The number of listed Chinese companies continued to increase and reached up to 106 (including 5 in Hong Kong and 7 in Taiwan), of which 47 central SOEs regulated by SASAC are among the list.
Among the 47 central SOEs there’re 17, whose headquarters or subsidiaries use the consulting services from Beijing Truth Consulting over many years or all year round.
Beijing Truth Consulting has provided the services to 6 central SOEs’ headquarters, including Xinxing Cathay International Group Co., Ltd, China National Machinery Industry Corporation (Sinomach), Wuhan Iron & Steel (Group) Corp., China National Chemical Corporation (ChemChina), China Minmetals Corporation and China Communications Construction Group (“CCCG”).
Beijing Truth Consulting has provided the services to 11 central SOEs’ subsidiaries and branches, including China Mobile Communications Corporation (its subsidiary formerly known as China Tietong Telecom we served), Ansteel Group (its subsidiary formerly known as Panzhihua Iron & Steel Group), China Telecom (its subsidiary known as China International Telecommunication Construction Corporation), China Metallurgical Group Corp. (its subsidiary known as China ENFI Engineering Corp.), China General Technology (Group) Holding Co., Ltd. (its subsidiary known as Beijing Tongrun Real Estate Co., Ltd. ), State Grid Corp. of China (its subsidiary known as Indaa Media Investment Co., Ltd. ),China Resources National Corporation(its subsidiary known as China National Pharmaceutical Group Corporation), China North Industries Group corp. (its subsidiary known as China North Xinyan Industrial Company), China National Offshore Oil Corp. (its subsidiary known as CNOOC Energy Development Co., Ltd.) China Energy Engineering Corp. Limited (its subsidiary known as Anhui Electric Power Design Institute (AHEDI), China Aerospace Science and Technology Corporation (its subsidiary known as China Academy of Launch vehicle technology).
 
In addition, Beijing Truth Consulting has provided the services to other 4 companies, which are not belonging to central SOEs regulated by SASAC but also ranked in the “Fortune Global 500” list, including Shanxi Coal and Chemical Industry Group Co., Ltd. (its subsidiary known as Shaanxi Iron & Steel) (Group) Co., Ltd.), China Development Bank (its Yunnan subsidiary), The people’s Insurance Company (Group) of China Limited, Beijing Automotive Industry Group Co., Ltd..
What makes us particularly proud and gratified is that our client - the Central SOE Xinxing Cathay International Group Co., Ltd., has ranked in the “Fortune Global 500” list for 4 consecutive years and developed into a up-to-date Big Star Central SOE with the help of nearly hundred times continuous consulting services from us since 2005. Its operating income has also increased from RMB 17.5 billion Yuan at the beginning to RMB 34.5 billion Yuan at present.