The Tongwei Group has risen in the Fortune Global 500 rankings for the second year in a row, reaching 467 in the recently released 2024 edition.
The annual revenue threshold for making the Fortune Global 500 has increased to USD32.1 billion this year from 2023’s USD30.9 billion, with China represented by 133 companies.
Tongwei’s ongoing commitment to technology and innovation is evidenced by its significant investment in R&D, with expenditure reaching USD568.9 million in 2023 alone. The company holds 2,344 patents as of June 2024 and has pioneered the development of the industry’s first 210 PECVD Poly pilot line and been a leader in implementing large-format PECVD technology.
Widely recognized for its commitment to sustainability, the company continues to adhere to strict environmental, social and governance (ESG) standards, priotitizing responsible labour practices, ensuring traceability and fairness throughout its supply chain and publicly committing to achieving the goal of using 100% renewable energy by 2030.