Largan Precision Co. Ltd. topped the list of Asia’s 200 Best Under A Billion companies released July 24 by Forbes magazine, with 30 other local firms making the cut.
It was the fifth time the leading smartphone camera lens supplier had made the list, but with sales of US$924 million last year, it will likely be too big next year to be included on the list.
Compiled from 885 candidate enterprises with annual sales between US$5 million and US$1 billion, the list was whittled down to the 200 best performers based on the rate of growth of income and market valuation over last year as well as past three years.
Total income for the 200 was US$42 billion in 2013, with 250,000 people employed, and an average rate of growth of 46 percent over the three-year period.
Taiwan's presence rose from 26 to 31 companies. And mainland China and Hong Kong had 85 firms on the list, setting a record for a country or territory. Taiwan’s presence rose from 26 to 31 companies.
Largan averaged about 30 percent growth from 2011 to 2013, without any appreciable slowdown in recent years, largely due to continuing high demand for products of Apple Inc., its main customer. Its stock market valuation soared by 2.5 times since last year.
Personal wealth of company founders Scott Lin and Tony Chen jumped to US$1.18 billion and US$950 million, respectively, this year, propelling them onto the list of Taiwan’s 50 richest people.
Other Taiwan firms on the list include Hermes Microvision Inc., Eclat Textile Co. Ltd., Ginko International Co. Ltd., St. Shine Optical Co. Ltd., Grape King Bio Ltd. and Flexium Interconnect Inc. (SDH)
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