Hongfa Ranked Among 2024 Hurun China 500 with RMB 33 Billion Enterprise Value

Hurun Research Institute recently released the 2024 Hurun China 500 list, where Hongfa Co., Ltd. secured the 387th position with an enterprise value of RMB 33 billion. This recognition underscores Hongfa's robust market competitiveness and dynamic growth trajectory.

Now in its sixth consecutive year, the Hurun China 500 ranks the nation's top non-state-owned enterprises by enterprise value. Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, emphasized: "These companies form the backbone of China's economy. Our evaluation highlights their profit-generating capabilities and identifies organizations perceived by investors as having the greatest potential for value creation over the next decade."

For over four decades, Hongfa has consistently implemented its "market-oriented approach and quality-driven strategy" to deliver premium products and services. This inclusion in the prestigious list reflects broad recognition of the company's manufacturing prowess and sustainable development momentum under evolving market conditions.

Looking ahead, Hongfa will intensify its commitment to independent innovation as its core growth driver. The company plans to:

• Overcome industry challenges while preserving its operational distinctiveness

• Fully execute its "75+" strategic initiative

• Strengthen advanced production capabilities

• Consolidate high-quality development foundations

• Contribute to China's transformation into a global manufacturing leader

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