Tencent Most Valuable Chinese Brand worth US$44.7bn
Taobao overtakes China Mobile to Second Place
Midea, TCL and Gree lead sharp rise in home appliance brand values
Letv, Anbang, Eastmoney and Spring Airlines make list for first time
Hurun Research releases tenth anniversary issue of Hurun Most Valuable Chinese Brands
Tencentis again this year’s Most Valuable Chinese brand, worthUS$44.7bn.Taobao, the leading ecommerce platform in China, came in the second worth US$42.9bn, overtakingChina Mobile,Baidu and ICBC.
It was a good year for state-owned brands, which outperformed private brands by 26% to 20%. However, of the 26 newcomers to the list, 70% are privately held, led by Letv,Anbang, Eastmoney.
170 of the 200 brands saw their value increase.Total brand value hit a staggering US$696bn, up 36% yoy. The Top 10 accounted for 46% of the total value.
Mi, a mobile phone brand, was the fast riser of the year, shooting up fivefold.
Finance and Real estatecreated the most brands, with 38 and 23 respectively, and making up 30% of the Top 200. IT kept third place, with 18.
The sector with the fastest rising was household appliances, which soared 74% on average, followed by Retailon 69%. Others of note were Pharmaceuticalup 32%, Financial servicesup 18%, Alcohol up 17%, Real estate up 15%, Food & Drinks up 11%, IT, Tobacco andTextilesup 10%.
Geographic spread. 60% of brands are headquartered in China’s first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen.
(17 Sep 2015, Shanghai) The Hurun Institute today released the Hurun Most Valuable Chinese Brands 2015, a comprehensive ranking of the 200 most valuable home-grown mainland China brands. This is the tenth consecutive yearof the list.
101 are privately held and 99 are state-owned.
Tencentis again this year’s Most Valuable Privately held Chinese brand, worth US$44,700 million. Taobao, subsidiary of Alibaba, comes to the second place this year with brand value of US$42,900 million, overtakingChina Mobile,Baidu and ICBC.
170 out of 200 brand value increase yoy. Total value of 200 listed brand is up to US$696 bn, up 36% yoy. However, top 10 are accounted for 46% of the amount value.
“Whilst most Chinese brands remain unknown to the outside world, within China they are establishing themselves with ever more sophisticated campaigns,” says Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher.
The Top 10
Rank / Name / Brand Value (US$m) / Industry1 - / Tencent / 44,700 / IT
2 ↑ / Taobao / 42,900 / Ecommerce
3 - / China Mobile / 42,700 / Mobile
4 ↓ / Baidu / 40,300 / Search
5 ↓ / ICBC / 36,600 / Bank
6 - / China Construction Bank / 29,800 / Bank
7 - / Bank of China / 25,200 / Bank
8 - / ABC / 19,400 / Bank
9 ※ / China Life / 19,000 / Insurance
10 ↓ / Chunghwa / 16,500 / Tobacco
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New to the Top 10
Source: Hurun Research
New faces
26 newcomers made the list, 70% privately held, led by Letv, Anbangand Eastmoney.
Name / Industry1 / Letv / Online entertainment
2 / Suyan / Tobacco
3 / Anbang / Insurance
4 / Eastmoney / Financial Software
5 / Youngor / Textiles
6 / Spring Airlines / Airline
7 / Straight Flush / software
8 / Guosen / securities
9 / Guirenniao / formal & leisure Clothing & Textile
10 / Greatwall Computer / Computers
Source: Hurun Research
Fastest risers
Miwas the fastest riser, shooting up fivefold yoy, followed by TCL and Huawei.
Name / Brand Value (US$m) / Industry1 / MI / 7,300 / Mobiles
2 / TCL / 1,850 / Household appliances
3 / Huawei / 2,260 / Mobiles
4 / Poly / 3,500 / Real estate
5 / New China Life Insurance / 1,900 / Insurance
6 / JD / 12,100 / Ecommerce
7 / Xinhu / 920 / Real estate
8 / China Southern / 2,200 / Airline
9 / Jinke / 710 / Real estate
10 / Air China / 4,200 / Airline
Source: Hurun Research
Which sectors are these brands from?
Finance and Real estate made up the backbone of home-grown brands, with 38 and 23 respectively, and accounting for 30% of the brands on the list. IT was third with 18 brands.
Average value of Household appliance sector soars 74%, with biggest increases among top 10 sectors. E-commerce and Retail are followed, up 69%. Medical health care sector climbs 32%. Financial service sector increases 18%. Alcohol sector rises 17%. Real estate gains 15%. Food & Drinks up 11%. IT, Tobacco and Clothing & Textile industry increase 10% respectively.
Table: Most Valuable Brands 2015 By Sector
Industry / No. of brands (change with last year) / No. of privately-held brands (change with last year) / Most valuable brand1 / Finance / 38(+4) / 5(+1) / ICBC
2 / Real Estate / 23(-2) / 15(-3) / Wanda
3 / IT / 18(-1) / 13(-1) / Tencent
4 / Food & Drinks / 17 / 11(+1) / Yili
5 / Alcohol / 14(-2) / 2 / Moutai
5 / Tobacco / 14 / 0 / Chunghwa
7 / Household appliance / 11 / 6 / Midea
7 / Pharmaceutical / 11(+2) / 6(+2) / Yunnan Baiyao
9 / E-commerce & Retail / 10(-3) / 9(-3) / Taobao
10 / Clothing & Textile / 9(-1) / 9(-1) / HLA
Financial Services
Top 3 are still ICBC, China Construction Bank andBank of China. There are 38 financial institutions on the Hurun Most Valuable Brands List 2015, total value of which is accounted for 30% of the list. Average brand value increases 18%. 5 of them are listed top 10. 15 of them set headquarter in Beijing.
Hurun Most Valuable Financial Brands 2015
Brand / Brand Value (US$m) / % of Market cap1 - / ICBC / 36,600 / 13%
2 - / China Construction Bank / 29,800 / 12%
3 - / Bank of China / 25,200 / 12%
4 - / ABC / 19,400 / 10%
5 ↑ / China Life / 19,000 / 11%
6 ↓ / PingAn / 15,200 / 13%
7 - / CMB / 7,700 / 12%
7 ↑ / Bank of Communications / 7,700 / 10%
9 ↓ / Alipay / 5,300 / 22%
10 ↓ / CPIC / 4,000 / 8%
11 - / China Citic Bank / 3,900 / 7%
12 - / China Minsheng Banking Corp / 3,700 / 7%
13 ↓ / Industrial Bank Co / 3,400 / 6%
14 ↑ / SPD Bank / 2,900 / 6%
15 ↑ / China Everbright Bank / 2,600 / 7%
16 ↓ / CITIC Securities / 2,400 / 4%
17※ / Anbang / 2,000 / 5%
18 ↑ / New China Life Insurance / 1,900 / 7%
18 ↓ / PICC / 1,900 / 9%
20 ↓ / UnionPay / 1,800 / 15%
21 ↓ / Taikang Life / 1,300 / 8%
22 ↑ / GF Securities / 1,100 / 4%
23 ↑ / Bank of Beijing / 940 / 5%
23 ↓ / Huaxia Bank / 940 / 5%
25 ↓ / China Merchants Securities / 920 / 3%
26 ↑ / Taiping Insurance / 850 / 8%
27 ↓ / Haitong Securities / 770 / 2%
28 ↓ / Bank of Shanghai / 730 / 5%
29 ↓ / CGB / 680 / 7%
30※ / Guosen / 600 / 2%
31 ↓ / Huatai Securities / 560 / 2%
32 - / Everbright Securities / 480 / 3%
33 - / Bank of Ningbo / 470 / 5%
34 ↓ / Sino Life / 440 / 5%
34 ↓ / Guotai Junan / 440 / 3%
36※ / Eastmoney / 400 / 2%
37 ↓ / ChinaAMC / 370 / 15%
38※ / Bank of Nanjing / 350 / 5%
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New on the list
Real Estate
There are 23 Real Estate companies listed. 15 out of them are private-run. Total value of Real Estate brands is accounted for 5.4%. Average brand value increases 15%. 9 out of 23 set headquarter at Guangdong.
Rank / Name / Brand Value (US$m) / Increase Ratio / % of market cap1 - / Wanda / 8,900 / 67% / 23%
2 ↑ / Vanke / 4,800 / 100% / 20%
3 ↓ / China Overseas / 3,800 / 27% / 14%
4 ↑ / Poly / 3,500 / 300% / 18%
5 ↓ / Greenland / 2,900 / 20% / 15%
6 - / Country Garden / 1,400 / 6% / 17%
7 ↓ / Evergrande / 1,390 / -3% / 19%
8 ↓ / Century Golden Resources / 1,130 / 0% / 10%
9 ↓ / Longfor / 1,100 / 3% / 13%
10 ↑ / Oceanwide / 1,030 / 146% / 10%
11 - / Gemdale / 970 / 50% / 12%
12 ↑ / Xinhu / 920 / 256% / 8%
13 ↓ / Shimao / 890 / -4% / 12%
14 ↑ / Jinke / 710 / 238% / 12%
15 ↓ / Mission Hills / 550 / 10% / 12%
16 ↓ / R&F / 440 / -27% / 13%
17 ↓ / SOHO China / 420 / -32% / 12%
18※ / Binjiang / 340 / New / 12%
19※ / Suning Universal / 320 / New / 11%
20 ↓ / Greentown / 290 / -22% / 15%
20 ↓ / Rongqiao / 290 / 0% / 10%
20 ↓ / Agile / 290 / -33% / 12%
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New on the list
IT
Tencent is the Most Valuable Chinese brand with worth of US$44,700 million. China mobile and Baidu are followed by. There are 18 brand from IT sector，13 out of which are private-run brands. Total value of listed IT brands is accounted for 22.5% of the list. Average value increases 10%. Beijing is the preferred headquarter location for IT sector, 12 listed IT brands set their headquarters at there. According to the statistics of GMI, Sina and Youku are commonly known in IT sector, however, they get lower ranks in their actual value.（About more information of GMI, please refer to the methodology）
Rank / Name / Brand Value (US$m) / Change yoy / % of Market Cap1 - / Tencent / 44,700 / 33% / 25%
2 - / China Mobile / 42,700 / 31% / 16%
3 - / Baidu / 40,300 / 32% / 55%
4 - / China Telecom / 6,300 / 5% / 12%
5 - / China Unicom / 4,200 / 2% / 11%
6※ / Letv / 3,800 / New / 30%
7 ↑ / Ctrip / 3,100 / 77% / 38%
8 ↑ / Dazhihui / 1,900 / 208% / 20%
9 ↑ / Dianping.com / 1,600 / 127% / 40%
9※ / Eastmoney / 1,600 / New / 15%
11 ↓ / 360 / 1,390 / -45% / 22%
11 ↑ / Qunar / 1,390 / 115% / 30%
13 ↓ / Sina / 820 / -56% / 38%
14 ↑ / NetEase / 710 / 47% / 5%
15※ / Straight Flush / 650 / New / 12%
16 ↓ / Youku / 630 / -43% / 30%
17 ↓ / SouFun / 480 / -68% / 20%
18 ↑ / Sougou / 440 / 50% / 30%
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New on the list
Food & Drinks
Yili tops the sublist overtaking Wahaha with a valuation of US$4,500 million, up 51%. Wahaha falls to second place, Mengniu and Shuanghui are listed at third place together with a valuation of US$3,500 million. There are 17 brand from Food & Drinks sector，11 out of which are private-run brands. Total value of listed IT brands is accounted for 4% of the list. Average value increases 11%. Zhejiang is the preferred headquarter location for Food & Drinks sector, 3 listed brands set their headquarters at there. According to the statistics of GMI, Laoganma is commonly known in this industry. However, it gets lower rank in its actual value.
Hurun Most Valuable Food &Drinks Brands 2015
Rank / Name / Brand Value (US$m) / Change yoy / % of Market Cap1 ↑ / Yili / 5,500 / 51% / 35%
2 ↓ / Wahaha / 4,500 / 17% / 23%
3 ↑ / Mengniu / 3,500 / 38% / 35%
3 - / Shuanghui / 3,500 / 2% / 27%
5 - / Haitian / 3,200 / 67% / 25%
6 ↑ / Bright / 1,260 / 42% / 32%
7 ↓ / Beinmate / 820 / -14% / 24%
8 ↑ / Sanyuan / 660 / 128% / 25%
9※ / Huishan / 520 / New / 20%
10 ↓ / JDB / 480 / 0% / 25%
11 ↓ / Meihua / 450 / 17% / 10%
12※ / Sanquan / 400 / New / 20%
13 ↓ / Yurun / 390 / 14% / 17%
14 ↓ / Nongfu / 370 / 15% / 23%
14 ↓ / Wong Lo Kat / 370 / 21% / 23%
16 ↓ / Lolo / 320 / 33% / 16%
17※ / Laoganma / 290 / New / 30%
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New on the list
Alcohol
Top 2 are still Moutai and Wuliangye. Yanghe is listed in the third place overtaking Tsingtao. There are 14 alcohol brands listed. Total value of listed alcohol brands is accounted for 4% of the list. Average value increases 17%. 3 listed brands are from Sichuan.
Hurun Most Valuable Alcohol Brands 2015
Rank / Name / Brand Value (US$m) / Change yoy / % of Market Cap1 - / Moutai / 10,800 / 14% / 30%
2 - / Wuliangye / 4,500 / 8% / 32%
3 ↑ / Yanghe / 3,100 / 70% / 22%
4 ↓ / Tsingtao / 2,400 / -6% / 26%
5 - / Luzhou Laojiao / 1,390 / -8% / 25%
6 ↑ / Changyu / 970 / 62% / 22%
7 ↑ / Yanjing / 810 / 47% / 19%
8 ↓ / Harbin / 710 / 10% / 21%
9 ↓ / Fenjiu / 680 / 24% / 22%
10 - / Snow / 600 / 61% / 22%
11 ↑ / Gujing Distillery / 580 / 140% / 20%
12 ↑ / Guyue Longshan / 340 / 50% / 22%
13 ↓ / Jian Nan Chun Chiew / 310 / -14% / 25%
13 - / Pearl River / 310 / 0% / 17%
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New on the list
Tobacco
Chunghwa is again the most valuable Tobacco brand. Huanghelou and Furongwang keep their ranks, second and third respectively. There are 14 Tobacco brands listed, which are all state-run brands. Total value of Listed Tobacco brands is accounted for 9.3% of the list. Average brand value increases 10%. 4 brands’ headquarter are located in Yunnan.
Hurun Most Valuable Tobacco Brands 2015
Rank / Name / Brand Value (US$m) / Change yoy / % of Market Cap1 - / Chunghwa / 16,500 / 9% / 60%
2 - / Huanghelou / 7,600 / 15% / 50%
3 - / Furongwang / 7,100 / 16% / 45%
4 - / Yuxi / 6,500 / 21% / 50%
5 - / Yunyan / 5,800 / 11% / 40%
6 ↑ / Double Happiness / 4,200 / 27% / 35%
7 ↓ / Liqun / 4,000 / -19% / 30%
8 - / Hongtashan / 3,400 / 20% / 45%
9 - / Nanjing / 2,200 / -13% / 30%
9※ / Suyan / 2,200 / New / 30%
11 - / Baisha / 2,100 / 8% / 30%
12 ↓ / Huangshan / 1,800 / -24% / 30%
13 ↓ / Honghe / 770 / -37% / 30%
14 ↓ / Dahongying / 450 / -13% / 25%
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New on the list
E-commerce & Retail
Taobao is still the Top 1, while Tmall and JD are listed second and third. There are 10 E-commerce & Retail brands are listed (3 brands less than last year). What is worth to being noted that there is only one brand is not private-run. Classified by sector, there are 4 E-retail brands, 2 supermarket-retail brands, 2 household-retail brands, 1 home furnishing retail brand and 1 pharmaceutical retail brand. Total value of E-commerce & Retail brands are accounted for 10.9% of the list. Average value increases 69% yoy. 4 brands set their headquarter at Beijing.
Hurun Most Valuable E-commerce & Retail Brands 2015
Rank / Name / Brand Value (US$m) / Change yoy / % of Market Cap1 - / Taobao / 42,900 / 44% / 21%
2 - / Tmall / 15,300 / 98% / 8%
3 - / JD / 12,100 / 266% / 30%
4 - / Suning / 2,300 / 51% / 15%
5 ↑ / Yonghui / 680 / 62% / 11%
6 ↑ / Jointown / 650 / 54% / 9%
7 ↓ / Macalline / 610 / 6% / 15%
8 ↑ / Jumei / 500 / 138% / 22%
9 ↓ / Gome / 470 / -17% / 13%
10 ↑ / Hualian / 320 / 54% / 13%
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New on the list
Household Appliance
Midea becomes top 1 overtaking Haier and brand value increases 81%. Gree comes to the second, while Haier falls to the third place. There are 11 Household Appliance brands in the list. 6 of them are private-run brands. Total brand value of these 11 brands are accounted for 2.6% of the list. Average brand value increases 74%. 5 brands’ headquarter are located at Guangdong, where almost have half of the brands.
Hurun Most Valuable Household Appliance Brands 2015
Rank / Name / Brand Value (US$m) / Change yoy / % of Market Cap1 ↑ / Midea / 4,700 / 81% / 20%
2 ↑ / Gree / 4,200 / 68% / 19%
3 ↓ / Haier / 3,950 / 48% / 20%
4 ↑ / TCL / 1,850 / 448% / 15%
5 ↓ / Hisense / 760 / 57% / 15%
6 - / Changhong / 600 / 48% / 13%
7 ↑ / Skyworth / 420 / 53% / 15%
8 ↑ / Supor / 370 / 64% / 17%
9 ↑ / Robam / 350 / 69% / 13%
10 ↓ / Galanz / 340 / -28% / 15%
10 ↓ / Joyyong / 340 / 50% / 17%
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New on the list
Clothing & Textile
HLA is again the Most Valuable Clothing & Textile brand. There are 9 brands are listed(1 brand less than last year), which are all private-run. Total value of Clothing & Textile brands is accounted for 1% of the list. Average value increases 10%.
Hurun Most Valuable Clothing & Textile Brands 2015
Rank / Name / Brand Value (US$m) / Change yoy / % of Market Cap1 - / HLA / 1,800 / 41% / 17%
2 - / Anta / 1,270 / 23% / 27%
3 - / Semir / 770 / 0% / 15%
4※ / Youngor / 730 / New / 10%
5※ / Guirenniao / 560 / New / 16%
6 ↓ / Metersbonwe / 470 / 26% / 16%
7 - / Luolai / 370 / 64% / 22%
8※ / Septwolves / 350 / New / 20%
9 ↓ / Li-ning / 320 / 18% / 30%
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New on the list
Pharmaceutical
This year Yunnan Baiyao is still the top 1. There are 11 brands are listed, while 6 of them are private-run. Total value of listed Pharmaceutical brands is accounted for 1.5% of the list. Average brand value increases 32% again. 3 brands are from Guangdong.
Hurun Most Valuable Pharmaceutical Brands 2015
Rank / Name / Brand Value (US$m) / Change yoy / % of Market Cap1 - / Yunnan Baiyao / 3,000 / 48% / 26%
2 ↑ / Tongrentang / 1,600 / 108% / 28%
3 ↓ / BY-health / 1,000 / 29% / 20%
4 ↑ / DEEJ / 980 / 42% / 22%
5 ↑ / Sanjiu / 890 / 45% / 21%
6 ↓ / Tiens / 850 / 20% / 15%
7 - / pien tze huang / 580 / 57% / 19%
8 - / Livzon / 440 / 69% / 15%
9 - / Xiuzheng / 370 / 77% / 19%
10※ / Renhe / 310 / New / 18%
11※ / Qizheng / 290 / New / 15%
↑Rank increase yoy ↓Rank decrease yoy - No Rank change yoy ※New on the list
Methodology
The Hurun Most Valuable Brands 2015 is based on a combination of consumer research into the brand preferences of Chinese consumers as well as brand analysis.
Consumer preferences
Hurun Researchcarried out a survey of the brand preferences of 1000 high-end consumers.Hurun Research also factored into the consumer research the number of searches for brand names made on Baidu from April 1 2014 to April 1 2015. Though these two insights into consumer preferences, Hurun Research was able to assess the rankings of brands within each sector.
Next, we identified the market capitalization of each company, subtracting any non-brand-related assets, leaving the value the brand adds to the business. For example, in the case of BYD, we only took into account its sales of cars, and not its battery business, which are sold predominantly as a component of mobile phones. In the case of many of the internet portals, we only took into account advertisements on their branded portal, subtracting income generated from non-branded online games.
Finally, Hurun Research used a brand multiple, based upon data for each sector, with the range provided by consumer preferences.
Only consumer brands created in Mainland China were taken into consideration; B2B brands were not assessed.
Hurun Report would like to thank Baidu and Lightspeed GMI for their support.
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