WH Group makes Fortune China 500
July 15, 2015
by Erica Shaffer
HONG KONG – WH Group Limited, parent company of Smithfield Foods Inc., made its debut on the “Fortune 2015 China 500” list in 35th place among China’s top companies. The list covers all Chinese companies listed in China or overseas and is compiled using companies’ annual income and gross revenue.
In addition to making the Fortune China 500 list, WH Group ranks first among fast moving consumer goods (FMCG) businesses in China, according to Shanghai Oriental Century Consumer Goods Development & Promotion Center and FMCG Information, a leading information research firm.
In a statement, Wan Long, chairman and CEO of WH Group, attributed the expansion of the FMCG market to China’s growing economy. He noted that Shuanghui Development products have become popular among Chinese consumers.
“Among all brands in the highly competitive FMCG industry, WH has been proactive in innovating new products, eliminating outdated products and optimizing its product structure, to meet consumers’ growing and fast-changing needs for food,” Long said. “Given WH Group has only been listed for less than a year, its achievements in terms of entering the Fortune 2015 China 500 list, as well as outperforming and ranking first among other Chinese FMCG enterprises, has once more strengthened the company’s leading position among its FMCG peers and demonstrated the company’s strength.
“The Group will enhance sales and profitability through innovations in products and marketing, so as to further reinforce the Group’s leading position in the consumer market, as well as to bring the greatest benefits to our investors,” Long concluded.
WH Group is the largest pork producer and processor in the world. The company operates its pork business through Henan Shanghui Investment & Development Co., Ltd. and Smithfield Foods, the largest pork processor in the United States.