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| Tuesday, 1 March 2011, 10:00 HKT/SGT | |
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Source: Quamnet | |
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| Mainland Companies To The Forefront |
HONG KONG, Mar 1, 2011 - (ACN Newswire) - China's largest Internet Company, Tencent (QQ.com) and Hong Kong's most influential investor-focused financial website, Quamnet.com, have jointly organized a new ranking to recognize the "Top 100 Hong Kong Listed Companies." The Chamber of Hong Kong Listed Companies is the principle supporting organization and Dr. Billy Mak, Associate Professor, The Department of Finance and Decision Sciences of Hong Kong Baptist University served as the independent academic research consultant to develop the ranking. After months of research, the results of the top 100 rankings is being officially announced today. As with similar rankings in markets around the world, Hong Kong's Top 100 Listed Companies ranking will be an important reference tool to assist investors in identifying the value of Hong Kong stocks. The results show that mainland China-based companies constitute a high proportion of the Top 100 list, with the mainland financial sector demonstrating particularly outstanding performance. Overall, property and construction account for the highest percentage of mainland China-based companies. The ranking confirms the position of the finance, and property and construction sectors as the two pillars of the Hong Kong stock market.
"Top 100 Hong Kong Listed Companies" is the first ranking project jointly developed across the Mainland and Hong Kong. All Hong Kong companies listed on the main board under the Hong Kong Stock Exchange, which have announced at least one annual report on or before 30 September 2010, will automatically be reviewed for the "Top 100 Hong Kong Listed Companies." To emphasize overall performance rather than a single performance aspect, selection criteria of the ranking have been weighted based on market capitalization (45%), net profit (35%), revenue(10%), return on equity (5%) and dividend yield (5%). Calculations are based on the market closing price on 30 September 2010, and data from the company's nearest annual report dated on or before 30 September 2010. The final Top 100 Hong Kong Listed Companies, rankings is determined from a composite score of the mentioned five evaluation criteria.
China Mobile (00941) scored 29.95 and ranked No. 1. Its rankings in the 3 primary weightings, market capitalization, net profit and return on equity achieved rankings of 1st, 2nd and 3rd, respectively. However, it should be noted that China Mobile is listed under the red chip category, and as a result, unlike other H-share companies, 100% of China Mobile's shares outstanding are counted in the market capitalisation, while HKEx market capitalisation standards exclude A shares from the calculation of market capitalisation of other Mainland companies.
In the telecommunications sector, only 4 companies made it to the Top 100 list. In the sector of Information Technology - Software & Services, Tencent Holdings (00700) is one of the companies ranked in the Top 100 list. However, as an organizer for this event, Tencent is being taken out of the ranking list.
The 2nd and 3rd rankings companies in the "Top 100 Hong Kong Listed Companies" are Bank of China (03988), and China Construction Bank (00939), respectively, and the 4th ranked company is ICBC (01398). This clearly demonstrates the importance of China's state-owned commercial banks in Hong Kong, and is particularly noteworthy because the ranking is calculated on the basis of 5 criteria to emphasize overall performance, rather than a single aspect of performance. Even though there is only 5% weighing for ROE and dividend yield, some companies that have outstanding performance in these 2 categories still achieve a high ranking. This is the reason that Bank of China rose to No. 2 in the ranking.
The property and construction sector has the greatest number of ranked companies with a total of 26 in the Top 100 list. In this sector, Sun Hung Kai Properties (00016) is ranked highest at No. 11. The second largest sector is the financial industry with 20 companies in the Top 100 list, and 6 in the top 10.
Mainland companies dominate the Top 100 Hong Kong Listed Companies including 8 out of the top 10. Manulife (00945) and HSBC Holdings (00005) are the only 2 non-Mainland companies with a top 10 ranking.
The evaluation's highest ranked 100 companies will comprise the "Main List", from which will come the Top 10 Companies in a number of sub-category rankings, including:
- Top100- Top 10 Turnover
- Top100- Top 10 Turnover Growth
- Top100- Top 10 Net Profit
- Top100- Top 10 Net Profit Growth
- Top100- Top 10 Market Capitalization (or Mkt Cap)
- Top100- Top 10 ROE
- Top100- Top 10 Dividend Yield
- Top100- Top 10 Price Growth
- Top100- Top 10 Total Return
- Top100- Top 10 Industry
Deputy Editor-in-Chief of Tencent, Mr Li Ma said, "Tencent is one of the first three Mainland Chinese websites to carry free real-time Hong Kong stock quotes. QQ provides comprehensive and professional coverage and a wide array of financial information and analysis on both the China and Hong Kong stock markets. 'Top 100 Hong Kong Listed Companies' is also the first authoritative ranking of Hong Kong listed companies with a market leading position."
Mr. Chris Justice, Managing Director of Quam (HK) Limited expressed, "It is a great honor to partner with Tencent. By combining the broad reach of China's number 1 Internet company and the Hong Kong market expertise and international reach of Quamnet.com, investors will now be able to easily identify Hong Kong's top listed companies. We look forward to continuing this partnership with QQ to promote understanding and knowledge of the Hong Kong market to investors in Hong Kong, in China, and indeed, around the world.
Chief Executive Officer of The Chamber of Hong Kong Listed Companies, Mr. Mike Wong said, "We are thrilled about the creation of the Top 100 Hong Kong Listed Companies ranking. Besides providing a great benefit to Hong Kong investors by helping them to obtain a better understanding of Hong Kong listed companies' performance, it is through the media network of Tencent that Mainland investors can access and understand more about Hong Kong listed companies. We are very pleased to support the event"
Associate Professor of Department of Finance Decision Sciences of Hong Kong Baptist University, Dr Billy Mak said: "We considered a range of selection criteria, and developed this methodology as the primary reflection of value of the listed companies."
About Tencent Website
QQ.com (www.QQ.com) is China's largest portal in Chinese integrating news, interactive communities, entertainment products and widely-used basic services. The website serves Chinese users around the world and is dedicated to becoming trend-setting and main-stream internet media platform with the greatest communication capacity and interactivity. Through its broad real-time news coverage and full range of information and entertainment services, the website provides a rich and creative online life to hundreds of millions of Internet users.
Contact:
Ms. May Lun
Associate Marketing Director,
Quam (H.K.) Limited
Tel: +852 2217 2630
Fax: +852 2319 1676
e-mail: may.lun@quamgroup.com
Ms. Victoria Chan
Marketing Executive,
Quam (H.K.) Limited
Tel: +852 2217 2702
Fax: +852 2319 1676
e-mail：victoria.chan@quamgroup.com
Topic: Awards
Source: Quamnet
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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