Beijing, China — For the second time, MicroPort Scientific Corporation (HK00853, “MicroPort®”) has been listed among “China’s 500 Most Valuable Brands” for 2021 with a brand value of RMB 10.365 billion. The list, together with the analysis report, was launched by the World Brand Lab in its18th World Brand Summit 2021 which was held in Beijing on June 22, 2021, under the theme of “Sustainable Brands Drive Corporate Growth”. At the Summit, Dr. Xuping Chu, former director of the Research Center of the State-owned Assets Supervision and Administration Commission of the State Council and research fellow of the China Enterprise Research Center of Tsinghua University, and Mr. Haodong Yuan, CEO of the World Executive Group and member of the expert group of the World Brand Lab, presented the trophies and certificates to the selected companies. Management experts from Harvard University, Yale University and Oxford University attended the Summit, delivered speeches online and interacted with participants on the theme of “Sustainable Branding Drive Company Growth”.
World Brand Lab is a leading international institution of brand valuation and research, recognized as one of the top three global brand value assessment organizations. It was founded by Professor Robert Mundell, 1999 Nobel Laureate in Economics, who also served as the first chairman of the organization. Its “China’s 500 Most Valuable Brands” list, which has been published for eighteen consecutive years, is a benchmark for demonstrating the strength of Chinese brands. Based on financial data, brand strength and consumer behavior analysis, the list measures brand value using the “present earning value method”, which has become an important reference for intangible assets evaluation in the M&A process for numerous companies.
Steve Woolgar, Chairman of the World Brand Lab and Professor Emeritus of Marketing at Oxford University, stated: “Brands are the image of a country. I would like to see more people in the world learn about the story of China through Chinese brands. In the past 15 years, I have witnessed the remarkable growth of Chinese brands, some of which already possess a strong global footprint.”
Founded in 1998, MicroPort® has relied on the concept of “a brand that belongs to patients” as a driving force of innovation. The philosophy and motivation of all MicroPort® activities are generated from patients, for patients and to patients. As the first company to develop and manufacture interventional medical devices in China, MicroPort® has pioneered and steered the development of the country’s interventional medical device industry and has transformed from a follower to a competitor, finally becoming a global leader in the field of coronary stents, laying the foundation of the MicroPort® brand. To date, MicroPort® has become one of the most influential brands in China’s medical device industry, and has also become a global leader in some segments. On average, one MicroPort® product is used every six seconds to save lives, improve quality of life, or help give birth to new lives. In 2019, according to the World Brand Lab, MicroPort® became the first and only medical device company to be listed in both “China’s 500 Most Valuable Brands” and “Asia’s Top 500 Brands”. It was also awarded the First Prize of Shanghai Innovative Achievement Award for Modernized Enterprise Management for its project “Brand building and management of large-scale high-end medical device enterprises” in 2019. MicroPort® is also the only Chinese medical device company listed in the Global Top 100 Medical Devices1.
The theme of this year's World Brand Summit was " Sustainable Brands Drive Corporate Growth ". A joint survey by World Brand Lab and SuperFinance showed that brand value is positively correlated with ESG (environmental, social and governance) scores. Since 2019, MicroPort® has implemented a sustainability strategy as an integral part of brand development with a focus on ESG. In terms of green operations, MicroPort® has established a comprehensive system for environmental management, as well as energy conservation and emission reduction. In terms of green governance, MicroPort® has been certified to the ISO 14001 standard for environmental management systems and the ISO 50001 standard for energy management systems. It has created a smart energy management system and developed and strictly implemented internal regulations such as the Procedures on Organizational Environment and Requirements by Relevant Parties and the Procedures on Energy Conservation Design Management. In 2020, MicroPort® was selected as a “Green Factory” by the Ministry of Industry and Information Technology of China, and was the only medical device company to have been named "The First Batch of Five Star Demonstration Organization Implementing a Green Manufacturing System". At the same time, MicroPort® is a strong advocate of social responsibility and is committed to being a good corporate citizen. MicroPort® breaks the monopoly of the high-end imported medical device segment and promotes their domestic development for the benefit of more patients. It has developed an innovative model to launch new products that better meet clinical needs. Further, it reaches out to the international market to provide global patients with high-quality medical solutions. At the same time, it participates in the development of industry standards to help regulate and develop the industry. Adhering to the philosophy of "starting from the smallest contribution to create miracles together", it has been practicing the corporate duty of "giving back to society and the public" by creating maximum value for all stakeholders in a sustainable manner.
According to William Mundell, Vice Chairman of the Advisory Committee of World Brand Lab, " Brand awareness reflects, to a certain extent, national character and national spirit. Brand sustainability should benefit everyone involved at all business levels. By implementing sustainability initiatives for long-term rewards, companies can remain at the leading edge and enhance brand awareness.
In 2019, Shanghai MicroPort Endovascular MedTech Co., Ltd., a subsidiary of MicroPort®, became one of the first innovative companies to be listed on the Shanghai Stock Exchange STAR Market, making it the first MicroPort® incubated subsidiary to go public. In February 2021, MicroPort CardioFlow Medtech Corporation, another subsidiary of MicroPort®, was listed on the Main Board of the Hong Kong Stock Exchange, making it the group’s second public subsidiary. Starting from 2020, MicroPort® has witnessed a phase of exponential growth. It has moved away from the phase featuring "complementary business and branding" to a new phase with a focus on "brand-driven business development", which has enabled synergy of the MicroPort® brand while maximizing the brand value of MicroPort®.
1. Source: Medical Design and Outsourcing, an authoritative international third-party website for medical devices