Evolution and Renewal of ExcellenceSUZHOU, CHINA – Media OutReach – 24 July 2023 – The 5th China Best Managed Companies (“BMC”) List, with the theme “Driving the Innovation Journey to Excellence”, was announced today at the China BMC Awards Ceremony in Suzhou, Jiangsu. More than 100 guests, including representatives of the core management teams of the award winners, renowned entrepreneurs, representatives of domestic and international partners, and business elites, were present to mark the occasion.
BMC, a Deloitte global program with 30 years of history, landed in China in 2018. The event is now in its fifth year, and this year saw the first awards for China BMC Gold Award winners (winners for five consecutive years). China BMC is sponsored by Deloitte China in conjunction with the Bank of Singapore, KUST Business School, Harvard Business Review (Chinese edition), and local business associations. It is backed by a rigorous screening process that identifies and witnesses private companies with advanced management concepts and superior management levels that can inspire more Chinese companies to focus on long-term, balanced, and sustainable development.
As the only international award in China that comprehensively evaluates the management systems of private enterprises, the BMC program brings together exemplary private enterprises in China, demonstrates the power of excellence, motivates more private enterprises to create internal change, and externally shapes “social enterprises” and sustainable development benchmarks in China.
After six months of interviews with entrepreneurs and research by experts, 58 companies were selected for the 5th BMC program, including 11 newcomers, 16 Gold Award winners, and 31 consecutive winners. The selected companies had combined revenue of RMB1.8 trillion, accounting for about 1.5% of China’s GDP, and have maintained profitable growth from 2018 to 2022, with average compound revenue growth of 17%, demonstrating their “power of excellence”.
Of the 58 winners, 58% are in the industrial manufacturing and consumer (including retail) sectors, suggesting that even the most traditional industries can work wonders in an economic downturn if they are driven by the engines of management excellence, breakthroughs in high-speed innovation, and enduring corporate cultures. In addition to the 69% of enterprises from Guangdong, Beijing, Shandong, Jiangsu, and Shanghai, outstanding private enterprises from other provinces and cities now represent nearly a third of the list, indicating that the overall strength of more local private enterprises is increasing and there are many potential champions to be discovered.
Frank Xu, Deloitte Private China Managing Partner, says, “The BMC program utilizes Deloitte’s “Criteria for Management Excellence” global framework to comprehensively evaluate candidates’ strategy, capability, commitment, and financial strength, as well as providing continuous insights into the outstanding management practices of China’s leading private sector companies.
“During the ups and downs of the economic cycle, many BMC companies have gone through transformation and upgrading, completing their evolution of excellence. It is not easy for BMC Gold Award winners to not only possess superior financial indicators, but to also thrive across economic and business cycles to achieve resilient growth.”
Zhao Jian, Best Managed Companies Program Managing Partner, adds, “Through interviews and research with BMC experts, we found that the average R&D investment of this year’s award-winning listed companies is much higher than the average among A-share companies, and they have excelled in internationalization development. BMC awardees’ continuous excellence and evolution in the face of external challenges lie in their sustained “integrated innovation”, which makes enterprises more market-sensitive, more sustainable in R&D, more forward-looking in products, and more far-reaching in brand influence.
“BMC enterprises have succeeded not only through product and technology innovation, but also possess more innovative digital means to strengthen customer insights, address social needs, lead their industries to create change, and have the awareness to transform their material and business values into team values and a sense of mission, inspiring their people and maintaining enterprise vigor and vitality. This sense of diversity and innovation is driving BMC’s award winners progress towards being world-class companies.”
Teresa Lee, Alternate Chief Executive and Head of Greater China of Bank of Singapore’s (BOS) Hong Kong Branch, says, “BOS is delighted to be the co-sponsor and judge of the China BMC Award for the fifth consecutive year. We will continue to work together with the BMC program to pass on the spirit of entrepreneurial excellence and help more Chinese private enterprises achieve greater social value and impact in the Asia-Pacific region.”
Prof. Xu Yan, Associate Dean of HKUST Business School, said, ” Innovation and change is the key to business success. As the co-initiator and strategic academic partner of the BMC program, HKUST Business School is committed to working with partners to promote the BMC program. Through the application of professional knowledge in business and management research, HKUST Business School will continue to help Chinese enterprises enhance their management, and augment their impact in the areas of internationalization experience, innovation management, corporate governance, and management systems.”
Liu Xiao, General Manager of Harvard Business Review China (Chinese edition), adds, “Private enterprises are vital force in China’s economy. Harvard Business Review is committed to providing thoughtful management insights and sharing leading management practices to help Chinese enterprises shape their influence in a fast-developing business world and tell more Chinese stories well.”
At the 5th BMC Awards Ceremony, 58 award winners that exemplify the theme of “Journey of Innovation”, discussed how to achieve “Evolution of Excellence” through multi-dimensional innovation in product and technology, organization and back-office, and customer and advanced insights. Deloitte China will use BMC as a platform to invite more outstanding Chinese private enterprises to speak jointly to the world, delivering the important co-creation of platforms and enterprises and continuing to build the influence of China’s outstanding private companies.
(Attached is the 5th “China Best Managed Companies” List)
| 2023 BMC new winners |
| Company Name || Sector |
| Anton Oilfield Services Group || Industrial manufacturing (energy) |
| Positec Technology (China) Co., Ltd. || Industrial manufacturing |
| GUANGDONG HAID GROUP CO., LTD. || Industrial manufacturing |
| Glodon Co., Ltd. || Technology, media, and telecommunications |
| Junlebao Dairy Group || Consumer (consumer goods) |
| Shandong Xueji Food Technology Co., Ltd. || Consumer (consumer goods) |
| Shanghai Fosun Pharmaceutical (Group) Co., Ltd. || Life science and healthcare |
| SHENZHEN TRANSSION HOLDINGS CO.,LTD. || Technology, media, and telecommunications |
| DJI || Technology, media, and telecommunications |
| XINTE ENERGY CO., LTD. || Industrial manufacturing (energy) |
| EVERRISING HOLDINGS CO.,LTD. || Industrial manufacturing |
| 2023 BMC gold winners |
| Company Name || Sector |
| iKang Healthcare Group, Inc. || Life science and healthcare |
| Skyworth Group Co., Ltd. || Consumer (consumer goods) |
| Daqo Group Co., Ltd. || Industrial manufacturing (energy) |
| Kidswant Children Products Co., Ltd. || Consumer (retail) |
| Haidilao International Holding Ltd. || Consumer (catering) |
| Hengan International Group Co., Ltd. || Consumer (consumer goods) |
| Jack Sewing Machine Co., Ltd. || Industrial manufacturing |
| Longfor Group Holdings Limited || Real estate |
| Shandong Weigao Group Medical Polymer Company Limited || Life science and healthcare |
| Shanying International Holding Co., Ltd. || Industrial manufacturing |
| Shenzhen Mindray Bio-Medical Electronics Co., Ltd. || Life science and healthcare |
| Shenzhen Inovance Technology Co., Ltd. || Industrial manufacturing |
| Topchoice Medical Corporation || Life science and healthcare |
| New Oriental Education & Technology Group Inc. || Education |
| Yantai Jereh Oilfield Services Group Co., Ltd. || Industrial manufacturing (energy) |
| China Education Group Holdings Limited || Education |
| 2023 BMC winners for two consecutive years |
| Company Name || Sector |
| Beijing Oriental Yuhong Waterproof Technology Co., Ltd. || Industrial manufacturing |
| Jiangsu Hengli Hydraulic Co., Ltd. || Industrial manufacturing |
| Juewei Food Co., Ltd. || Consumer (consumer goods) |
| Laobaixing Pharmacy Chain Joint Stock Company || Consumer (retail) |
| LONGi Green Energy Technology Co., Ltd. || Industrial manufacturing (energy) |
| Shandong Wuzheng Group Co., Ltd. || Industrial manufacturing |
| Shanghai Liangxin Electrical Co., Ltd. || Industrial manufacturing |
| Amer International Group Limited. || Industrial manufacturing |
| Wingtech Technology Co., Ltd. || Industrial manufacturing |
| Esquel Group || Consumer (consumer goods) |
| 2023 BMC winners for three consecutive years |
| Company Name || Sector |
| ANTA Sports Products Limited || Consumer (consumer goods) |
| Blue Focus Intelligent Communications Group Co., Ltd. || Technology, media, and telecommunications |
| Fuyao Glass Industry Group Co., Ltd. || Industrial manufacturing |
| GUANGDONG HEC TECHNOLOGY HOLDING CO., LTD. || Industrial manufacturing |
| Hang Lung Properties Limited || Real estate |
| MACALLINE || Consumer (retail) |
| LEVIMA ADVANCED MATERIALS CORPORATION || Industrial manufacturing |
| NANJING TICA CLIMATE SOLUTIONS CO., LTD. || Industrial manufacturing |
| AUTOHOME || Technology, media, and telecommunications |
| BYHEALTH.,LTD. || Life science and healthcare |
| Tongwei Solar Co., Ltd. || Industrial manufacturing (energy) |
| Yonghui Superstores Co., Ltd. || Consumer (retail) |
| Cheerwin Group Limited || Consumer (consumer goods) |
| 2023 BMC winners for four consecutive years |
| Company Name || Sector |
| Jiajiayue Group Co., Ltd. || Consumer (retail) |
| iFLYTEK Co., Ltd. || Technology, media, and telecommunications |
| 360 Security Technology Inc. || Technology, media, and telecommunications |
| BGI Genomics Co., Ltd. || Life science and healthcare |
| Shenzhen YUTO Packaging Technology Co., Ltd. || Industrial manufacturing |
| New Hope Diary Co., Ltd. || Consumer (consumer goods) |
| Joy Wing Mau Corporation Limited || Consumer (consumer goods) |
| Intime Retail (Group) Company Limited || Consumer (retail) |
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