Which Baoan “treasures” have been listed in “Fortune” in recent years?
2024-08-16
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
Recently, Chen Yongqiang, co-founder of Shenzhen Bao'an enterprise Yingshi Innovation Technology Co., Ltd. (hereinafter referred to as "Yingshi Innovation"), successfully made it onto the 2024 Fortune list of "China's 40 Business Elites Under 40".
Insta360 is a global leader in the development and manufacture of panoramic imaging products. According to Frost & Sullivan data, in 2022, the global market share of Insta360 panoramic cameras, Insta360's product, reached 50.7%, ranking first in the industry. This honor is not only a recognition of Chen Yongqiang's extraordinary achievements in the field of science and technology, but also a recognition of Insta360's leading position in the global panoramic imaging R&D and manufacturing field.
Fortune magazine, founded in 1930, has a wide influence in the international business community. The magazine has many authoritative selections. Shenzhen Special Zone Daily reporters have sorted out the companies and entrepreneurs in Bao'an that have been listed in Fortune in the past five years and found that they include not only industry leaders but also upstarts in the industry, representing the development direction of new quality productivity. Companies and entrepreneurs are "treasures" cherished by Bao'an's policymakers. From these "treasures" on the list, we can also get a glimpse of the innovative spirit of Bao'an companies and entrepreneurs, as well as Bao'an's good business environment and development confidence.
Three Baoan entrepreneurs were on the list, one of whom was Chen Yongqiang's entrepreneurial brother.
The "China's 40 Business Elites Under 40" listed by Chen Yongqiang has been selected since 2011, aiming to discover outstanding young innovators, value creators and change makers in China. In the 2021 list, three entrepreneurs from Bao'an were on the list, namely Chen Yongqiang's entrepreneurial brother, Liu Jingkang, founder and CEO of Insta360, Chen Yuqi, founder and CEO of HaiRobo Innovations, and Wang Tao, founder and CEO of ZhuoLaser.
The three Baoan entrepreneurs were selected together with many well-known names, including Zhang Yiming of ByteDance, Su Hua of Kuaishou Technology, Cheng Wei of Didi, and Xu Li of SenseTime. Regarding the 2021 list selection, Fortune commented: "These young business leaders are in many fields such as technology, retail, and smart manufacturing. They continue to create value, lead changes in the Chinese business world, and even influence the world."
Compared to Chen Yongqiang's fame, his co-founder brother Liu Jingkang is a technology geek and very low-key. Fortune magazine wrote in its comment on Liu Jingkang: "In 2015, one year after graduating from Nanjing University, Liu Jingkang founded Insta360, focusing on VR and panoramic cameras. In two years, he became the world's largest panoramic camera manufacturer. Liu Jingkang began to focus on the sports camera market in 2017. In the past five years, Insta360 has achieved an average annual compound growth rate of 130% through continuous technological and product innovation."
Since the official establishment of Insta360, Liu Jingkang has led a high-level R&D team to make the company a pioneer in the smart imaging industry and an innovator in the consumer market in just a few years. He has also received many important recognitions for his innovative and entrepreneurial achievements: in 2017, he was listed in the Forbes 30 Under 30 Asia list; in 2019, he was awarded the 10th "China Youth Entrepreneurship Award"; in 2020, he won the Shenzhen Science and Technology Award for Youth Technology.
Both Liu Jingkang and Chen Yongqiang have great confidence in Bao'an's business environment and development prospects. Chen Yongqiang recalled in an interview with a reporter from Shenzhen Special Zone Daily that he settled in Bao'an, Shenzhen from other places in 2015, and the "full industrial chain" was an important factor in attracting enterprises to Bao'an. "From supply chain to product research and development to production and listing, we can find supporting upstream and downstream industries here." He said.
In particular, after some areas of Bao'an were included in the Qianhai Cooperation Zone, Chen Yongqiang believes that this will be a great boon to the company's ability to attract high-end talents from around the world in the future. "As an international enterprise, our products are exported to more than 200 countries and regions around the world, and we have gathered scientific and technological talents from more than 10 countries. Whether it is technology research and development or marketing, we need to absorb a large number of international talents. Qianhai's talent policy will be more conducive to our realization of this goal," he said.
At that time, Wang Tao, general manager of Shenzhen Zhuolei Laser Technology Co., Ltd., was selected together with Liu Jingkang. This is a very low-key technology-based enterprise. According to Aiqicha data, the company was established on July 17, 2018 and is located in Houting Community, Shajing Street, Bao'an District, Shenzhen. A report searched on the Internet shows that in 2008, after graduating from the Xi'an Institute of Optics and Precision Mechanics of the Chinese Academy of Sciences, Wang Tao joined a Canadian-owned laser company. "At that time, the industry was almost entirely foreign brands, and domestic brands either made relatively low-end products or had a very small market share." In the process of working in foreign companies, Wang Tao gradually sorted out the cognitive map of the laser industry chain, and the idea of creating an independent brand that truly represents the level of the national laser industry was also imminent. In 2014, Wang Tao and two other partners raised 1 million yuan in funds to establish Zhuolei Laser, determined to become the number one brand of domestic lasers.
Bao'an is obviously Wang Tao's lucky place, and it is the perfect place to develop the laser business. There is a saying that "Look to Guangdong for Chinese lasers, Shenzhen for Guangdong lasers, and Bao'an for Shenzhen lasers"! As the largest laser industry cluster in China, Bao'an ranks first in the country in terms of industry scale and number of enterprises, accounting for about 30% of the country and 70% of Guangdong Province! Recently, the Guangdong Provincial Department of Industry and Information Technology announced the list of provincial small and medium-sized enterprise characteristic industrial clusters in 2024. Shenzhen has a total of 9 small and medium-sized enterprise characteristic industrial clusters on the list, including the laser industry cluster and low-altitude drone industry cluster in Bao'an District.
In order to promote the development of clusters, Bao'an has also introduced a series of policies. For example, in terms of space, Bao'an has innovatively built an overall layout, staggered and coordinated industrial cluster space system to guide strategic emerging industries and future industries to gather in key areas first. Xinqiao Shenzhen Laser Valley, located in Bao'an, was born. Bao'an has made pioneering explorations in building a laser industry cluster by building a laser technology innovation ecological chain, and has initially formed a full industrial chain of upstream light sources and optical materials, midstream lasers, CNC systems, laser heads, and downstream cutting machines and welding machines.
Another person selected in the same year, Chen Yuqi, is the founder and CEO of Baoan enterprise Hai Robotics. He graduated from the Department of Electronics of Hong Kong Polytechnic University with a bachelor's degree and from the Robotics of ETH Zurich with a master's degree. In 2015, when Chen Yuqi accompanied a friend who was engaged in express delivery to inspect warehouse projects around Beijing, he found that most warehouses relied on manpower, with high logistics costs and low efficiency. Chen Yuqi's entrepreneurial principle is "to help solve major social problems". After sufficient research, he determined the idea of starting a warehouse robot business and gradually expanded it.
Last November, Forbes officially released the list of China's top 50 most innovative companies. With its world-leading R&D and design of box-type storage robot systems and its continuous scientific and technological innovation, Hai Robotics was listed in the list of Forbes China's top 50 most innovative companies, joining many leading companies such as Huawei and Alibaba Cloud, and becoming one of the first echelons of China's scientific and technological innovation companies.
Like many Baoan enterprises, Hai Robotics focuses on innovation, and its product innovation capabilities have been recognized by domestic and foreign authorities. In China, Hai Robotics won the China Patent Award for Excellence for its "warehouse system, cargo collection method, device, material box moving device and control terminal". In the United States, Hai Robotics' telescopic lifting material box robot A42T won the Best Innovation Award from the Material Handling Institute, an authority in the US supply chain. To date, Hai Robotics has more than 1,900 technical patents (including those authorized and pending), leading the industry.
Leading enterprises are favored by Fortune's authoritative selection
Fortune is best known in China for its annual list of China's top 500 companies.
On July 25 this year, the 2024 Fortune China 500 list was released. Five companies from Bao'an District made the list, namely SF Holdings (109), Luxshare Precision (133), Xinwanda (332), Pengding Holdings (437), and GEM (454), which is the same as the number of companies on the list last year.
From the perspective of the industry, among the five listed companies, one is in the logistics industry, one is in the electronic device manufacturing industry, one is in the semiconductor discrete device manufacturing industry, and two are in the new energy industry-related industries, all of which represent the development direction of new quality productivity. In particular, the new energy vehicle market has been booming in recent years, becoming a representative industry for China's industrial improvement, and also providing a "breakthrough" momentum for the transformation of the old and new economic models. The Bao companies on the list, Xinwanda and GEM, are involved in the core links of the new energy vehicle industry chain, such as power batteries and battery recycling.
In terms of revenue, SF ranks first among Bao'an enterprises. In 2023, SF's total business volume reached 11.97 billion tickets, a year-on-year increase of 7.5%, with revenue of 258.4 billion yuan, and net profit attributable to shareholders of listed companies was 8.23 billion yuan, a year-on-year increase of 33.38%. By the end of 2023, SF Holdings will operate and manage 1,900 warehousing resources, 396 transshipment centers, and more than 44,000 self-operated and agency service points across the country, covering 100% of cities in China. Another listed company, Luxshare Precision, achieved operating income of 231.905 billion yuan in 2023, a year-on-year increase of 8.35%; net profit attributable to shareholders of listed companies was 10.953 billion yuan, a year-on-year increase of 19.53%. This is also the first time that Luxshare Precision has achieved a net profit and non-net profit of more than 10 billion.
Pengding Holdings has shown a steady development trend: in the first half of 2023, the company's radar computing board was successfully mass-produced; in the fourth quarter of 2023, lidar and radar high-frequency antenna boards began to enter the mass production stage, and have been shipped in automotive ADAS, lidar, BMS and other fields.
Among the above five companies, SF Express, Luxshare Precision, and Sunwoda are also on the Fortune China ESG Influence List 2024. ESG (Environmental, Social and Governance) evaluates the sustainability of corporate operations and their impact on social values from the three dimensions of environment, society, and corporate governance. The ESG Influence List selection aims to measure the sustainable development capabilities and social responsibility of companies by evaluating their actions in the ESG field, and to encourage and drive more companies to develop in a more responsible and sustainable direction. This is the third consecutive year that Fortune has compiled the China ESG Influence List. Compared with the previous two years, this year's list has 30 new companies on the list, bringing the total to 70. The number of applicants has jumped to more than 200, widely from new energy, manufacturing, Internet, finance, health and other fields.
Among Baoan enterprises, SF Express has been on the list for three consecutive years and continues to lead this year, ranking 7th on the list. Luxshare Precision and Xinwanda are on the list for the first time. According to the list, in 2023, SF Express will conduct research and development on the reduction and standardization of 8 major types of materials such as plastic bags, adhesive tape, stickers, and seals, reducing the use of base paper by about 43,000 tons, reducing the use of plastic by about 162,000 tons, and reducing carbon emissions by about 164,000 tons. The development of fully biodegradable woven bags has been completed and the pilot project has been completed. As of the end of 2023, SF Express has invested a total of about 433 million yuan in the Warm Heart Project to rescue 21,379 seriously ill children and orphans in distress.
The newly listed companies also performed very well in ESG. In 2023, Luxshare Precision implemented 284 energy-saving transformation projects. Through distributed photovoltaics, direct purchase of green electricity, and purchase of green certificates, the proportion of clean energy use jumped to 63%, reducing greenhouse gas emissions by more than 1.1 million tons of carbon dioxide equivalent. At the same time, it strengthened the low-carbon actions of the supply chain and promoted suppliers to save a total of 15,890 megawatt-hours. Xinwanda continues to promote energy transformation, green production, and green product innovation. In 2023, Xinwanda's energy consumption per unit of output value decreased by 8.3%, and 234 technical transformation/management projects saved a total of 28.4397 million yuan. The first smart station for photovoltaic storage, charging and inspection was officially launched, which can support the charging of 8 new energy vehicles at the same time.
In addition, SF Express has been selected as one of the "World's Most Admired Companies" by Fortune magazine for seven consecutive years, which is another important selection of the magazine after the Fortune Global 500. As usual, Fortune magazine invites more than 3,700 executives, directors, and securities analysts from around the world to conduct a comprehensive assessment of companies based on nine major indicators, including corporate innovation, talent attraction, social responsibility, and global innovation. The authority is self-evident.
Fortune magazine said that the "Most Admired Chinese Companies List" is a consideration of the soft power of enterprises. This group of Chinese companies has its own characteristics in terms of business level, management ability, sustainability and social responsibility, and has demonstrated the resilience that is rare among Chinese companies under pressure and changes. SF Express is the largest integrated logistics service provider in China and Asia and the fourth largest in the world. After 30 years of dedicated operation, SF Express has enjoyed wide acclaim and popularity in the industry, established a brand image of "fast", "punctual" and "safe", and its high-quality services have created a good brand value, which has been widely recognized by customers, the industry and society.
The most powerful "working girl" topped the list of China's most influential business women
Wang Laichun, a female entrepreneur from Bao'an and chairman of Luxshare Precision, is a frequent guest on Fortune's list of "China's Most Influential Businesswomen". Fortune magazine has been publishing the list of the most influential businesswomen since 1998, and released the Chinese list for the first time in 2010. The list includes well-known entrepreneurs, professional managers of Fortune 500 companies, and investors. In 2023, Wang Laichun topped the list, and she was selected together with well-known female leaders such as Meng Wanzhou and Xu Ran.
As the founder of Luxshare Precision, Wang Laichun has fought back from a very successful "working girl" to guide the company's development and growth. At present, Luxshare Precision has entered the forefront of global high-speed connection interface technology, and has expanded its business to consumer electronics, communications, automotive electronics and other fields with the strategy of new products for old customers, new markets for old products and new customers. Its products involve core parts, module design, development and manufacturing, and system assembly. Its intelligent automation manufacturing leads the industry. In the "2023 Outstanding Business Women 100" list released by Forbes China, Wang Laichun was also given the honor of being the first.
(Author: Shenzhen Special Zone Daily reporter Ye Zhiwei and Li Jiying)
