On 10 August, when the 2020 Fortune Global 500 was out, there comes a big story: for the very first time, there are more Fortune Global 500 companies based in China (including Hong Kong) than in the U.S. - 124 vs. 121.
Three Guangzhou based companies make the list, tied with last year. They are China Southern Power Grid (103, up 5 spots), Guangzhou Automobile Group (206) and Cedar Holdings (296, up 5 spots).
Among them, Cedar Holdings, the one and only private company became the highlight. It stays on the Fortune Global 500 for three years in a row, ranking 296th with $41.2 billion in total revenue.
How did it manage to stay in the ranking with an even higher position? Since the first time Cedar Holdings made the list on 2018, it has built on its essential business of commodities and continued to explore high tech innovation. As a result, it has achieved significant breakthrough in new chemical materials and enhanced the value added of chemical materials. The company also focused on copper-based new materials development as a way to play an active part in 5G related sectors.
On the morning of May 13, Cedar Commodities Supply Chain Group and Guangzhou-Yingde Industrial Park (hereinafter referred to as "Guangde Park") of Guangzhou-Qingyuan Special Cooperation Zone signed the Investment and Cooperation Agreement for Cedar Copper-Based New Materials Industrial Base. According to the agreement, Cedar Holding will establish a copper-based new material industrial base in Guangde Park. Focusing on advanced manufacturing, the industrial base is estimated to generate an annual output of RMB 2.5 billion once completed.
Seeing opportunities out of crisis, Cedar Holdings breaks new grounds in the era of changes by taking advantage of the new round of technological and industrial revolution. Throughout 2019, Cedar Holdings continued to master key technologies that used to be foreign countries monopolies and introduced world-leading green technology into China.
In July 2019, Qixiang Tengda signed HPPO process licensing agreement and technology service agreement with Evonik and ThyssenKrupp from Germany in July 2019, bringing in the world's most environmentally friendly PO (propylene oxide) process technology.
Tianchen New Nylon Material Project (1 million mt/y), a joint investment by Qixiang Tengda and China Tianchen Engineering Corporation, started construction in August 2019. Once completed, it will become the first ADN mass production site in China and break the Western countries monopoly of ADN related technology. What's more, Qixiang Tengda will bring in Dimersol from France's Axens and LP OXO℠ technology jointly developed by UK'S Johnson Mattey and the U.S.'s Dow Chemical Company to its newly built INA plant. With 200,000 mt/y, the plant is expected to have the largest INA production capacity within China.
Cedar Holdings is combining industry and finance and incorporating the blockchain technology into business in order to help companies upon upstream and downstream of supply chains achieve win-win results. During this process, the Cedar-centred supply chain accelerates operation, enabling faster transactions of commodities and products as well as high speed turnover.
As a Guanghzhou based private company listed on Fortune Global 500, Cedar Holdings owes its rapid growth to the sound business environment and unique location advantages provided by Guangzhou. Cedar Centre, the headquarters building of Cedar Holdings located in Huangpu District, Guangzhou, has been put into use.
