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HONG KONG, Dec 3, 2010 - (ACN Newswire) - China's largest Internet Company, Tencent (QQ.com) and Hong Kong's most influential investor-focused financial website, Quamnet.com, have announced that they will jointly organize a new ranking to recognize the "Top 100 Hong Kong Listed Companies." The Chamber of Hong Kong Listed Companies will participate as the principle supporting organization and Dr. Billy Mak, Associate Professor, The Department of Finance and Decision Sciences of Hong Kong Baptist University will act as the independent academic research consultant to develop the ranking. There will be standardized and systematic criteria to identify the Top 100 HK Stock, which will lead this prestigious event to become the most authoritative and representative ranking of all Hong Kong companies listed on the main board under Hong Kong Stock Exchange.
The ranking is a joint co-operation between Mainland China and Hong Kong. While many major markets around the world have premier rankings of listed companies, Tencent and Quamnet have noted the lack of such an authoritative ranking of Hong Kong listed companies. As an international financial hub with an open and high flexibility investment system, the organizers believe that Hong Kong should also have an independent ranking of Hong Kong listed companies. Consequently, it was decided to create a local ranking in association with key professionals including The Chamber of Hong Kong Listed Companies and Dr. Billy Mak.
To ensure its independence and legitimacy, the organizers have appointed Dr. Billy Mak, Associate Professor, The Department of Finance and Decision Sciences of Hong Kong Baptist University to establish the evaluation criteria, perform the academic research, and consolidate the ranking results. All Hong Kong companies listed on the main board under Hong Kong Stock Exchange, which have at least announced one annual report on or before 30 September 2010, will automatically be reviewed for "Top 100 Hong Kong Listed Companies." To emphasize overall performance rather than a single aspect of performance, selection criteria of the ranking will be weighted based on revenue, net profit, market capitalization, return on equity, and dividend yield. Calculations will be based on the market closing price on 30 September, 2010, and data from the compan's nearest annual report dated on or before 30 September, 2010. The final Top 100 Hong Kong Listed Companies, rankings will be determined from a composite score of the five evaluation criteria.
The evaluation's highest ranking 100 companies will comprise the "Main List", from which will come the Top 10 Companies in a number of sub-category rankings, including:
- Top 100 Hong Kong Listed Companies - Top 10 Highest Sales Revenue
- Top 100 Hong Kong Listed Companies - Top 10 Largest Market Capitalization
- Top 100 Hong Kong Listed Companies - Top 10 Highest Return On Equity
- Top 100 Hong Kong Listed Companies - Top 10 Most Profitable Companies
- Top 100 Hong Kong Listed Companies - Top 10 Best Share Price Performance
- Top 100 Hong Kong Listed Companies - Top 10 Highest Dividend Yield
and more sub-category rankings will be announced soon.
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 Chinese 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: "It took a great deal of analysis to decide upon the most appropriate selection criteria, and we are now in the process of analyzing the data to arrive at the independent ranking soon."
The final rankings are now being complied and the Top 100 Hong Kong Listed Companies in 2010 Main List and sub-category Top 10 Lists will be announced in mid-January 2011. A separate press release will be issued to announce the results.
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: Quam Limited
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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