China's Next 100 Global Giants (2020 Edition)

Since the publication of China’s Next 100 Global Giants (2018 Edition), a series of major uncertainties have emerged that have led to upheavals in world politics and the economic environment. The global outbreak of COVID-19 has directly impacted the production and operations of various enterprises, while Sino-US relations are experiencing an unprecedented period of difficulty, which has created growth constraints for certain Chinese companies in key technological areas. Faced with the impact of these uncertainties, some companies have been struggling to survive, while others have proactively taken solid steps to grow into world-class enterprises by continuously improving their market competitiveness. Some of the companies included in our 2018 ranking, such as CVTE and LY iTECH, have become industry leaders and entered a stage of steady development; therefore, they should no longer remain among the 'Next 100 Global Giants' which is forward-looking in nature. In addition, through the effective implementation of strategic plans, many companies that were not previously included in the ranking have proven themselves by successfully seizing market opportunities and achieving effective growth over the past few years, thus demonstrating their significant potential to become future industry leaders and satisfying the criteria for inclusion on the 2020 list of China’s Next 100 Global Giants. In order to discover China’s next generation of top companies with the largest growth potential in an ever-changing market, while ensuring the timeliness and validity of the list, ACCA has entered into a collaboration with the Shenzhen Finance Institute to conduct research and analyses on nearly 4,000 private enterprises listed in mainland China or abroad. On the basis of these findings, we have compiled the ranking of China’s Next 100 Global Giants (2020 Edition). This report also includes a review of the market performance of the companies included on our 2018 list, which reveals that the return on equity of these companies has generally outperformed the market standards – evidence of the scientific validity of our ranking system.

We have followed the structure of our 2018 report and created our ranking by employing the criteria described below:

• The current ranking is based on a number of diverse indicators.
• Unlike our 2018 ranking, the current ranking includes corporate social responsibility as a new indicator.
• The focus of our current ranking has fallen on listed private enterprises.