On February 25th, the “2024 Hurun China 500” was unveiled, marking the sixth consecutive year that the Hurun Research Institute has released the “Hurun China 500” ranking. Himile Science & Technology secured its place on the list for the first time, ranking 360th, thanks to its stable market performance and growth potential.
Criteria for the Ranking
This list ranks the top 500 non-state-owned enterprises in China based on their enterprise value. For listed companies, the market value is calculated according to the closing stock price on November 15, 2024 (market value = closing price × total shares outstanding). For non-listed companies, valuations are estimated by referencing comparable listed companies or their latest round of financing.
The threshold for making the list remained unchanged from the previous year, staying at 26.5 billion RMB. The industrial products sector saw the largest increase in the number of companies listed, becoming the top industry in the Hurun China 500.
Reference Value
Hu
Run, Chairman and Chief Researcher of Hurun Report, stated: “Value is a
key indicator of a company’s economic strength, reflecting not only
current performance but also assessing future growth potential. The
Hurun China 500 list reveals the companies with the greatest
profit-generating capabilities in the eyes of investors over the next
decade or so… Changes in the list, including new entrants and
dropouts, highlight emerging trends in the Chinese economy.”
“Over
the past year, the industries with the most new entrants were
industrial products, semiconductors, and software & services. The
rise of these sectors reflects the strong momentum of China’s economy in
high-end manufacturing and the digital economy.”
“Meanwhile,
the industries with the most dropouts were healthcare, particularly
medical devices, and consumer goods, indicating the periodical
challenges these sectors face due to intensified market competition,
industry restructuring, and changes in the external environment.”
“The
Hurun China 500 list” provides investors, businesses, and policymakers
with critical insights into economic structural shifts, market
competitiveness assessments, and strategic decision-making through
multi-dimensional data such as enterprise valuation, industry value
distribution, and regional economic contributions.