Sunwise included in the 2019 Global Top 500 New Energy Enterprises

This archived announcement has been translated automatically from Chinese. Names and technical wording may require editorial verification. Original artwork is preserved where applicable.

Wei Quili, Director of the China Energy Economics Institute

On 22 October, the “Ninth Global New Energy Enterprises 500 Summit”, sponsored by the China Energy Bulletin and the Shanxi Province Energy Authority, was held in Tianhara, Shanxi, where the high-profile “2019 Global New Energy Enterprise 500 Billboard” was launched.

The Global New Energy Enterprises 500 campaign, a major public service event jointly launched by the China Energy Journal and the China Energy Economics Research Institute, targeting authoritative research and evaluation in the new energy sector, has been successful in holding eight sessions since 2011. The list has become a signpost reflecting the fundamental features of the development of the new global energy industry, the latest changes and important trends.

In 2018, new developments in the global energy industry took on new dimensions and features: the solar industry slowed down, the energy storage industry continued to thrive, and the hydrogen energy industry was encouraged and supported by countries. (Detailed list at the end of the text)

Wen Wei Chiuli

China Energy Economics Research Institute

There's a slight drop in the threshold.

The minimum revenue required for inclusion in the 2019 Top 500 was RMB 1.423 billion, down RMB 26 million, or 1.79%, from RMB 1.449 billion in 2018. After several years of rapid increases, the entry threshold had reached a plateau, reflecting the broader development of the new energy industry.

Entry threshold for the Global Top 500 New Energy Enterprises, 2015–2019 (RMB 100 million).

Total revenue of the 2019 Top 500 reached RMB 3.7975 trillion, compared with RMB 3.7053 trillion in 2018, an increase of RMB 92.2 billion. The increase recorded in 2018 was RMB 308.8 billion.

Total revenue of the Global Top 500 New Energy Enterprises, 2015–2019 (RMB trillion).

The total operating income of “5000” enterprises has been growing steadily year by year, slowing down after peaking in 2017, consistent with the firm's threshold of entry.

Stable country distribution

In 2019, “Big 500” companies came from 37 countries and territories, two more than in 2018. Of these, 209 enterprises in China entered the “50%” list, eight fewer than last year (217), or 41.8%; 74 businesses in the United States, 13 more than last year (61), or 14.8%; and 54 enterprises in Japan, or 4 fewer than last year (58), or 10.8%.

Distribution of the top 500 countries with global new energy enterprises, 2019

Slow growth in emerging market countries

In terms of the number of top-ranked enterprises, there are 261 emerging market countries, 6 fewer than 267 in 2018; 239 developed countries, 6 more than 233 in 2018; and 1.09:1 (2018:1.15:1) ratio between emerging market countries and developed countries

Number of emerging-market and developed-country enterprises among the “500-strong” enterprises, 2015-2019

Companies from developed countries recorded total revenue of RMB 2.0345 trillion in 2019, an increase of RMB 43.9 billion from RMB 1.9906 trillion in 2018; their 2018 change had been a decrease of RMB 19.5 billion. They accounted for 53.57% of Top 500 revenue, down 0.15 percentage points from 53.72% in 2018, a much smaller decline than the 5.46-point decline in 2018. Emerging-market companies recorded RMB 1.763 trillion, up RMB 48.3 billion from RMB 1.7147 trillion in 2018; the 2018 increase had been RMB 328.3 billion. Their share reached 46.43%, up 0.15 points from 46.28%, compared with a 5.46-point increase in 2018. Growth in their share slowed substantially.

Total revenue of emerging-market and developed-country companies in the Top 500, 2015–2019 (RMB 100 million).

The gap between emerging-market and developed-country companies has narrowed over time. After a sharp narrowing in 2018, the pace slowed. In 2019, developed-country revenue resumed modest growth and again exceeded RMB 2 trillion, while emerging-market revenue growth slowed after several years of rapid expansion.

Share of total operating income of emerging market countries and developed country enterprises in the “500-strong” enterprises, 2015-2019

The gap between the total operating income of emerging market countries and those of developed countries in the “500 strong” firms has narrowed year by year, but the downward trend slowed in 2019.

Despite slower growth in emerging markets overall, South Africa performed strongly. Three companies were included, two more than in 2018. Their combined revenue reached RMB 7.08 billion, up RMB 4.15 billion from RMB 2.93 billion, representing growth of 141.64%.

Table 1 2019 “Fifty 500” Selected Enterprises in South Africa

The United States also showed signs of recovery. Its number of companies in the 2019 Top 500 rose by thirteen to seventy-four. Their combined revenue reached RMB 600.6 billion, an increase of RMB 56 billion from RMB 544.6 billion in 2018, or 10.28%.

Asia's top ranking is solid.

Among the top 500, the downward trend in the number of European enterprises continued, with only 100 firms entering in 2019. In 2019, although the number of selected enterprises in Asia decreased from 2018 to 297 (2018:310), accounting for 59.4 per cent, it remained in the forefront.

Comparison of the number of enterprises and their share in Asia and Europe, “50%” 2015-2019

“Fifty 500” Asia, Europe and their share of business, 2015-2019

European companies have experienced slow revenue growth, stagnation or contraction in recent years. Their 2019 revenue was RMB 989.7 billion, compared with RMB 995.9 billion in 2018, a decrease of RMB 6.2 billion; the 2018 increase had been RMB 66.9 billion. Their share was 26.06%, down 0.82 percentage points from 26.88%; the 2018 decline had been 0.47 points. Asian companies recorded RMB 1.9618 trillion in 2019, compared with RMB 1.9647 trillion in 2018, a decrease of RMB 2.9 billion; the 2018 increase had been RMB 287.6 billion. Asia represented 51.66% of Top 500 revenue, compared with 53.02% in 2018, again accounting for more than half.

China Speed Precipitation

After years of high growth, China's top 2019 “500” firms were both selected and accounted for total operating income; however, the average size of China's selected firms continued to grow and overall rankings rose.

Among the top 500 enterprises, China accounted for 209, 8 (2018:+19) less than last year (2018:217). The number of enterprises selected by China has declined, but it still has an absolute advantage, far exceeding the second-highest United States (74) and the third-highest Japan (54).

Total revenue of Chinese companies in the Global Top 500 New Energy Enterprises, 2015–2019 (RMB 100 million).

Chinese companies recorded total revenue of RMB 1.3726 trillion, compared with RMB 1.3837 trillion in 2018, a decrease of RMB 11.1 billion. The previous year's increase had been RMB 289.7 billion. This was the first decline since 2014. Growth was −0.8%, compared with 26.48% in 2018, a decrease of 27.28 percentage points; the 2018 increase had been 16.14 points.

The top 10 companies in the 2018's.

The top 10 companies in 2019, the top 500.

Among the top 10 companies ranked “5000”, Chinese enterprises have two enterprises, the Consortia Group Limited and the Crystal Energy Holdings Company Ltd., while in 2018 only the Consort Group ranked the top ten.

Scale and growth of Chinese companies in the Global Top 500 New Energy Enterprises, 2015–2019 (RMB 100 million).

Average revenue among Chinese companies in the 2019 Top 500 was RMB 6.568 billion, up 3% year on year. In 2018, the corresponding average was RMB 6.376 billion, with growth of 15.40%.

Average size and growth rate of “500-strong” Chinese enterprises, 2015-2019

The storage power is supersolar.

In 2019, the “Big 500” industry landscape of the global new energy enterprise again changed, with the energy storage industry continuing to grow at a rapid pace, while solar energy continued to slow and, for the first time, the energy storage industry went beyond solar energy.

In terms of the number of enterprises selected, there are 495 enterprises in which solar, biomass, storage, wind and hydrogen energy are engaged in diversification but which are dominated by solar, biomass, stored, wind and hydrogen (hereinafter: Multi-Industrial Enterprises), four fewer than last year, or 99 per cent of “500”. Of these, 218 (2018:205) are multi-sector enterprises, 89 (2018:107) are solar, 104 (2018:106) are energy battery storage and 37 (2018:36) are wind energy enterprises; of the remaining enterprises, three are hydrogen and two are geothermal. In terms of the number of enterprises selected, the number of enterprises in the energy storage industry has increased significantly, while the number of solar enterprises has continued to decline, with the number of energy enterprises exceeding the number of solar companies for the first time.

Industry distribution of the Top 500, 2015–2019 (RMB 100 million).

Distribution of industrial revenues of the “Fifty 500” enterprises, 2015-2019

Companies in solar energy, biomass, energy storage, wind and diversified businesses recorded combined revenue of RMB 3.7776 trillion in 2019, compared with RMB 3.7008 trillion in 2018, representing 99.48% of the total versus 99.88% in 2018. Diversified businesses recorded RMB 1.4247 trillion, compared with RMB 1.4781 trillion, or 37.52% versus 39.89% of the total. Solar companies recorded RMB 664.1 billion, compared with RMB 769.8 billion, or 17.49% versus 20.78%. Energy storage battery companies recorded RMB 735.8 billion, compared with RMB 577.7 billion, or 19.38% versus 15.59%. Wind companies recorded RMB 466.6 billion, compared with RMB 422.6 billion, or 12.29% versus 11.41%.

Changes in the “500 strong” storage energy industry, 2015-2019

From 2015 onwards, the storage industry began to move into a high-growth phase, with a rapid increase in its share of “5000” and, by 2019, it had reached 19.38 per cent, followed only by diversified industries (37.52 per cent); on the other hand, the solar industry continued to decline and, since 2015, the gross operating income of solar energy enterprises in “500” continued to decline, falling to 17.49 per cent in 2019, ranking third.

Hydrogen can be on the list for the first time.

Hydrogen made its first appearance as an industry category in the 2019 Top 500. Although it included only three companies with combined revenue of RMB 12.3 billion, this marked a change in the composition of the global new energy industry rankings.

The hydrogen-energy industry in the top 2019 "50."

There's an increasing tendency towards end-to-end separation.

The gap between the largest and smallest companies widened in 2019. The number of companies with revenue exceeding RMB 40 billion rose to twelve, four more than the eight in 2018, an increase of 50%.

A company that collects more than $40 billion in 2019, the “Fifty 500”

“Fifty billion” business receipts and receipts, 2015-2019

The ratio of revenues and revenues of the top 100 businesses in 2015-2019

Companies with revenue of at least RMB 10 billion recorded combined revenue of RMB 2.289 trillion in 2019, representing 60.28% of the Top 500 total, up 0.41 percentage points from 2018. The bottom one hundred companies recorded RMB 174.8 billion, or 4.60% of total revenue, down 0.06 points.

Although the increases and decreases are modest, the trend towards increased polarization is a cause for concern and vigilance.

Business income and growth rate of “50 billion” enterprises, 2015-2019

Operating income and growth rate of 100 enterprises after “50%” 2015-2019

Here's the full list.

2019 Top 500 Global New Energy Enterprises

Enterprise scope: industries such as solar, wind, geothermal, storage, tidal, oceanic, etc.

Approach to evaluation: Internationally accepted, using the previous year's operating income of energy enterprises as an evaluation criterion.

2019 High potential of new global energy enterprises

Enterprise scope: industries such as solar, wind, geothermal, storage, tidal, oceanic, etc.

Conditions: 1. Business income has increased continuously over the past three years and has been close to 500 in the previous year; 2. Enterprise technology is strong and has good prospects for commercialization, and there is hope of entering 500 in the next three years; 3. Enterprise has an innovative business model and there is hope for entering 500 in the coming three years; and 4. The business chain in which the enterprise is located has a very broad market outlook and is performing at a high rate of development, with hope of entering 500 over the next three years. (Satisfactory one is enough)

Note: No rankings.

Referenced sources

DNV GL AS

English edition of the original Chinese page. Historical statements, dates and figures are retained as published.