China keeps pouring out fastest-growing technology, media firms in Asia-Pacific despite economic pinch, Deloitte rankings show
Unfazed by the economic slowdown, Chinese enterprises have continued to shine with the most number of firms ranked in a survey of the Asia-Pacific’s 500 fastest-growing technology, media and telecommunications companies this year.
The latest edition of the Deloitte Technology Fast 500 Asia-Pacific, released on Friday, showed that 139 mainland Chinese companies made the list, up from 100 last year.
“Our 2015 rankings have once again shown us ... how China’s presence continues to grow more dominant each year,” said Ichiro Nakayama, Deloitte’s leader for the Technology Fast 500 study in the region.
Seven mainland companies reached the top 10 ranking. These included second-ranked Wuhan Hi-Target Digital Cloud Technology, No 5 Changzhou Yihutong Logistics Technology, No 6 Chongqing Yijifu Technology, No 7 Shenzhen iDreamSky Technology, No 8 Beijing Yixin Yixing Automotive Technical Development Services and No 10 CapitalBio Technology.
The average revenue growth of the 139 ranked mainland companies this year was 645 per cent, compared with 634 per cent for the 100 firms which made the list last year.
Hou Po, managing partner for technology, media and telecommunications at Deloitte China, said the hi-tech sector has not been significantly impacted by China’s economic slowdown.
“It’s actually sectors like construction and real estate which have been impacted the most,” Hou said.
He cited as an example the 15 mainland life sciences companies in this year’s rankings.
“China’s healthcare sector remains attractive for investment. New business models and technologies are changing how healthcare is provided, such as e-pharmacy, m-health, use of big data for care provision and precision medicine,” Hou said.
The top-ranked company in this year’s Deloitte survey was Seoul-based Devsisters, an international developer of mobile games.
The top 500 companies this year posted an average revenue growth of 415 per cent, up from last year’s average growth of 405 per cent.
A total of 231 companies making up this year’s ranking had final-year revenues of under US$10 million, down from 342 companies last year.
There were 164 companies in the survey with revenue of between US$10 million and US$50 million, more than last year’s 108 firms.
Taiwan had 86 companies ranked in this year’s survey, followed by Australia with 80.
India had 55 in the list, while New Zealand had 54 and South Korea 50. Japan had 34 companies make the list.