The 42 listed companies based in Yantai achieved operating revenue of 319.42 billion yuan ($49.37 billion) over the past year, an increase of 3.72 percent compared with 2019, local authorities reported.

Twenty-three companies reported positive net profit growth. Wanhua Chemical Group remains the most profitable company in Shandong province, with its net profits reaching over 10 billion yuan.

The group has set up offices in more than 10 countries, including the United States, Hungary, Japan, and India. Its main business focuses on the R&D, production, and sale of functional materials, acrylic acid, and polyurethane (PU).

The city’s manufacturing companies, including Linglong Tire Co, Nanshan Aluminum, and Jereh Group, have seen net profits of 6 billion yuan.

Raytron Technology Co saw an increase of 128.06 percent in revenue year-on-year. The company has developed into a word-leading integrated circuit company, focusing on producing and designing infrared imaging products and MEMS system sensors.