Big losses knock Lenovo off Fortune Global 500
Having joined the Fortune Global 500 list for the first time last year, Lenovo has become the only Chinese enterprise to be delisted after suffering its biggest ever losses.
The Fortune Global 500 list ranks the world's largest enterprises based on their operating revenue in the preceding fiscal year. Although the world was hit by the international financial crisis last year, the entrance threshold for the Fortune 500 has increased by 11.3%.
The minimum operating revenue of listed enterprises reached 18.5723 billion USD, almost double that of 1998, which stood at 9.564 billion USD.
Nine companies from Chinese mainland have joined the Fortune Global 500 list for the first time this year, however the delisting of Lenovo drops the net increase in listed Chinese mainland enterprises to eight.