Greenland Holding Group, parent of Atlantic Yards/Pacific Park master developer, continues rise (to 142) in Fortune Global 500
I wrote last August that Greenland Holding Group, the Shanghai-based conglomerate parent to Atlantic Yards/Pacific Park master developer Greenland USA, had risen to 176 from 202 in the Fortune Global 500 ranking of the world's largest corporations.
That rise continues to 142 this year, part of a mostly steady ascent that nonetheless lags behind previously stated (in 2014) ambition to reach the top 100 by 2020.
Note that Fortune's ranking is based on revenue in the past fiscal year, and does not address issues of debt, which shadow ratings agencies' more tempered views of the company.
Note that Fortune's ranking is based on revenue in the past fiscal year, and does not address issues of debt, which shadow ratings agencies' more tempered views of the company.
Nor does it address other metrics, like profit. As shown in the screenshot below, revenues rose 6.7%, while profits rose 1.9%. That confirms a growth pattern that may be tempered at some point.
As noted by Fortune last year, a significant majority of the Chinese companies in the Global 500 are state-owned enterprises, as is Greenland.
Top 100 by 2023?
As shown in the screenshot below from Fortune, after a mid-decade hiccup, Greenland has been rising steadily in the magazine's rankings.
Based on this growth pattern, Greenland should enter the top 100 by 2023. Will they, by then, have invested further in Atlantic Yards/Pacific Park--or sold off more parts?
Comments
Post a Comment