Tech Fast 500 Asia Pacific: Media Room
China tops Deloitte's 2009 Technology Fast 500 Asia Pacific ranking
- And the winner is: Chinese online clothes retailer Vancl ranked No. 1 with 29,577 percent revenue growth
- Shaken, not stirred: Tech sector grew despite economic downturn and expect accelerated growth into 2010
- The future is Green: Six of Top 20 this year are from Green Tech sector
HONG KONG, December 10, 2009 – Deloitte today announced that China leads this year’s Technology Fast 500 Asia Pacific 2009 Ranking. The program ranks the region’s 500 fastest growing technology companies by revenue growth over the last three years. This is the third time in the program’s eight years that China is on top.
Chinese Internet firm Vancl—a direct marketing B2C online clothes retailer— was ranked No. 1, boasting an extraordinary growth rate of 29,577 percent. Vancl’s stellar performance in 2009 clearly skewed the top-five average, considering the large gap between it and the Taiwan based runner-up High Power Opto Inc at 7,240 percent.
“We’re very pleased with this recognition from Deloitte, and thank our team in China for helping us achieve this strong growth,” said Chen Nian, Chief Executive Officer of Vancl, “So far, we’ve only touched the tip of the iceberg with a customer base of two to three million buyers out of a total 300 million netizens in China. We expect a further growth surge as we focus on more innovation and improving customer experience.”
Deloitte today also released the results of this year’s Technology Fast 500 Asia Pacific CEO Survey, the firm’s annual analysis of business trends among the winning Technology Fast 500 companies. The survey was conducted in the last quarter of 2009, and examined how fast-growing companies were performing in the downturn. Although CEOs were not asked outright about their confidence, it shone through loud and clear in their approach to growth targets, markets and customers. Despite the economic downturn, technology companies in Asia Pacific showed strong growth with the Top 10 achieving an average revenue growth over three years of 5,639 percent.
“The technology sector showed resilience and continued growth despite economic issues driving the global landscape,” said, Jolyon Barker, Deloitte Global Managing Partner Technology, Media and Telecommunications. “The biggest returns for this year’s fast-growing companies have been generated by breakthrough and ongoing innovation in both existing and new markets.”
That is not to say that the weakened global economy has not impacted technology companies in the Asia Pacific region. It has caused sales cycles to lengthen as they adapt to meet their customers’ needs. Over half (55 percent) say their customers are reluctant to buy at previous price points. Financial factors are beginning to override the focus on green for their customers, for which we have yet to see the implications for technology firms. Talent and R&D are still priority areas. In fact, 39 percent have even accelerated hiring and 32 percent have increased spending in R&D.
Top 10 Ranked Companies
|Company||Location||Sector||3-Year Revenue Growth %|
|1||Vancl (Beijing) Technology||China||Internet||
|2||High Power Opto Inc||Taiwan||Semiconductor, Components and Electronics||
|3||Xueda Education Technology Co Ltd||China||Internet||
|4||Gintech Energy Corp||Taiwan||Green Tech||
|6||Neo Solar Power Corp||Taiwan||Green Tech||
|7||Shanghai ChemPartner Co Ltd||China||Biotech, Pharmaceutical/Medical Equipment||
|8||Shenzhen Easou Technology Co Ltd||China||Media and Entertainment||
|9||Young Fast Optoelectronics Co Ltd||Taiwan||Semiconductor, Components and Electronics||
|10||Moreens Co Ltd||Korea||Computers and Peripherals||
No records were broken this year, but the top five companies still grew an impressive 8,980 percent in average revenue growth over the past three years, about one third of last year’s top five performance rate. Across all 500 companies, the three-year average revenue growth rate came in at 361 percent, about.
Taiwan held its lead in contributions to the fastest-growing technology companies in Asia Pacific, with 99 Taiwanese companies making the 2009 ranking, slightly down from the 112 firms who appeared in 2008. China made a significant leap into second place this year, for contributions by location—97 Chinese firms joined the ranking, compared to 72 in 2008 and 53 in 2007. China supplied eight companies to the top 20 ranking this year, followed by Taiwan with six companies.
For the third year in a row, Software outranked all other sectors, with 162 software companies in the top 500 ranking, a climb of almost 17 percent from 2008. Yet, despite its numbers, no software companies made the illustrious top 10 list. With 84 companies, nearly half that of Software, the Semiconductors, Components and Electronics sector placed second, down about 33 percent in contributions from 2008. Internet companies took third place, but they continue to increase in the rankings and boasted the winning company for 2009. The Green Technology sector, which was added to the industry sector breakdown this year, welcomed 19 companies, six of which made the top 20 list.
Public or private
The number of private companies in the ranking climbed this year to 291, a substantial increase on the 220 private companies in the 2008 ranking.
The full list of Technology Fast 500 Asia Pacific 2009 ranked companies as well as additional details about the nomination and the eligibility criteria of the Deloitte’s Technology Fast 500 program can be found on www.deloitte.com/fast500asiapac .
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For more information, please contact: Fast500AsiaPacific@deloitte.com.