9 Bao'an firms ranked among top 500 new economy enterprises

Nine enterprises from Bao'an District made the list of China's Top 500 New Economy Enterprises for 2024, released at the fifth New Economy Enterprise High-quality Development Conference held recently in Shanghai.

A research institute of GEM Co. Ltd. in Bao’an. Bao’an Daily

The nine firms are Luxshare Precision (15th), SF Holding (40th), Avary Holding (85th), GEM Co. Ltd (185th), Sunwoda Electronics (225th), Jingwang Electronics (333rd), Centre Testing International Co. Ltd. (355th), Changying Precision (398th), and Shenzhen Sunway Communication (458th).

Employees work on the factory floor of Sunwoda Electronics in Bao’an. File photo

The threshold for market value or valuation of the top 500 new economy enterprises this year was set at 7.6 billion yuan (US$1.05 billion).

Among the Bao'an enterprises on the list, two stood out with market valuations exceeding 100 billion yuan: Luxshare Precision, valued at 294.3 billion yuan, and SF Holding, valued at 218.3 billion yuan. SF Holding has been expanding its international services since 2010, gradually introducing express delivery services to countries such as the United States, Japan, South Korea, Singapore, and Malaysia.

As of now, Bao'an District is home to 7,402 national high-tech enterprises and 80 listed companies, ranking third in the city in terms of the number of listed enterprises.