Huawei Investment & Holding Co Ltd ranked first in the China Top 500 Private Enterprises this year, with operating revenue of 721.2 billion yuan ($102 billion), according to a report released by the All-China Federation of Industry and Commerce on Thursday.

It was the fourth consecutive year the Chinese telecom giant topped the list since 2016, China Times reported.

HNA Group and Suning Holdings Group took the second and third spots, with operating revenue of 618.29 billion yuan and 602.46 billion yuan, respectively.

Chinese e-commerce platform JDslipped down two spots to sixth this year, following behind Amer International Group, a Shenzhen-based company for non-ferrous metal processing, and the real estate conglomerate ChinaEvergrandeGroup.

Companies in this year's list should at least register operating revenue of about 18.59 billion yuan, according to the ranking.