OREANDA-NEWS. August 17, 2012. The SASAC released the results of the assessments of the operating performances of state-owned enterprise leaders in 2011. Sinochem Group successfully passed the assessment and was rated as an A-level enterprise, becoming one of the 12 Central SEOs to achieve this rating for eight consecutive years since the first assessment of its kind by the SASAC in 2004, reported the press-centre of Sinochem. 

In 2011, in accordance with the requirements of “Cultivating First-Class Enterprise in the World” proposed by the SASAC, Sinochem Group successfully completed all the tasks of the year and made historic breakthroughs in operational performance and general strength.

This was achieved by focusing on the goals of the third venture, persisting in taking advantage of opportunities, risk prevention and development promotion, boosting strategy implementations and enhancing lean management. Sinochem Group realized the operating revenue of RMB458.9 billion, a year-on-year growth of 37%, and the total profit of RMB13.4 billion, a year-on-year growth of 48%, with the total assets amounting to RMB258.2 billion.

While making breakthroughs in operating performance, the Group also witnessed a significant change in its operating philosophy, which is marked by further improvements to its core competitiveness in energy, agriculture, chemical industry, real estate and finance and by the formation of a mutually-supportive and harmoniously developing structure.

Among all the 118 Central SOEs supervised by the SASAC, the number of A-level enterprises is 46, accounting for 38.98%, while that of B, C and D-level enterprises are respectively 55, 13 and 4, accounting for 46.61%, 11.02% and 3.39% respectively.