(Yicai) May 15 -- Fourteen companies listed in the Chinese mainland, including electric vehicle giant BYD and battery behemoth Contemporary Amperex Technology, reported overseas revenue of over CNY100 billion (USD13.8 billion) last year, compared with 10 the year before.

BYD, CATL, China Communications Construction, Weichai Power, and SAIC Motor achieved such milestone for the first time ever last year, according to data provider Wind Information. Display panel maker BOE Technology Group dropped out of the list after its overseas revenue plunged 25 percent to CNY94 billion (USD13 billion).

The Chinese mainland-listed firm with the highest overseas revenue last year was Luxshare Precision Industry, as the consumer electronics giant logged a 6.7 percent increase in overseas revenue to CNY206.8 billion from the year before.

BYD ranked second because the development of the new energy vehicle market boosted the company’s overseas revenue by 75 percent to CNY160.2 billion last year form the previous one. CATL’s overseas revenue also grew for the same reason, up 73 percent to CNY131 billion.

Sixty-four percent of the 5,363 companies listed in the Chinese mainland reported overseas revenue last year totaling CNY8.5 trillion (USD1.2 trillion), up 4.3 percent from the year before, according to Wind data. Overseas revenue accounted for more than 70 percent of the total for 264 of the companies, which are mainly engaged in the electronics, machinery and equipment, medicine and biology, and light manufacturing sectors.

The machinery and equipment industry had the most companies with overseas business revenue last year. The NEV boom boosted the demand for grid transformation and electric equipment, accelerating overseas sales of suppliers of core parts of grid power equipment, such as smart meters, transformers, and tap changers.

The Chinese high-end equipment industry is expected to start a new boom this year, Huachuang Securities said about the industry’s overseas market trend in a research report released on May 12.

Five of the nine leading grid equipment companies achieved over 15 percent growth in overseas revenue last year, Yicai learned from their annual reports. Huaming Power Equipment and Goldcup Electric Apparatus recorded the highest growth rates of over 79 percent. Hexing Electrical achieved a growth rate of 51 percent.

Editor: Futura Costaglione