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4 Hong Kong-Based Companies Enter Forbes’ ‘Best Under a Billion’ List
by: The Beat Asia
August 11, 2023
Four Hong Kong-based companies have secured spots on Forbes' "Best Under a Billion" list, which annually celebrates 200 standout small to mid-sized publicly traded companies across the Asia-Pacific. These enterprises have demonstrated resilience and impressive performance amidst challenging macroeconomic factors.
Network connectivity solutions provider Plover Bay Technologies (US$414 million) led the pack by market value, followed by design, manufacturing, and distribution company Mainland Headwear Holdings (US$96 million), printing services provider Lion Rock Group (US$93 million), and household product developer and industrial designer Town Ray Holdings (US$86 million).
Forbes said the companies were assessed based on how they managed to weather “stiff global headwinds like inflation and rising funding costs.” Companies in chipmaking and related industries dominated the list, underscoring rising demand for semiconductors due to the adoption of AI technology.
Meanwhile, Forbes noted a continued increase in revenues among companies dependent on consumer spending, indicating post-pandemic optimism. The 2023 tally includes 58 returnees from last year.
To view the full Forbes’ “Best Under a Billion” list, click here.
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