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Top private enterprises make strong starts in 2024

eguiyang.com.cn|Updated: March 13, 2024

With the launch and implementation of various new policies, the private economy in Guizhou province is thriving, and private enterprises in Guiyang – the provincial capital city – have made strong starts in the first quarter of 2024.

Guizhou Toro Group is the largest automobile dealership group in the West China. In the 2023 list of Top 100 Private Enterprises in Guizhou, the group ranked first. With an annual revenue of 37 billion yuan ($5.14 billion), the group has topped this list for the ninth consecutive year.

"Consumption in the domestic car market has not fully recovered, but favorable incentives for automobile consumption from the government have greatly aided market recovery," said Li Jie, vice-president of Toro Group. In recent years, policies aimed at promoting automobile consumption have included incentives for trading in old cars, car purchase subsidies, and the issuance of consumption vouchers.

Li stated, "During the Spring Festival holiday, driven by government consumption vouchers, Toro was able to offer promotional discounts totaling over 1 billion yuan, resulting in a strong start to sales. As of February, the group's total car sales volume has increased by 5 percent year-on-year."

Meanwhile, Flidam Technology Co – another top 100 private enterprise in Guizhou – also reported its successful progress. The company has completed the initial layout in the four major sectors for the year 2024, including the communication electronics sector, steel sector, digitalization sector, and photovoltaic sector, in the first quarter.

Ma Yan, deputy general manager of Flidam, introduced that the company's comprehensive service platform for the consumer electronics distribution industry connects with over 300 distributors and 50,000 retailers. This platform has an annual transaction volume of over 10 billion yuan.