ABSEN RECOGNIZED AS ONE OF CHINA’S BEST MANAGED COMPANIES

The professional LED display manufacturer, Absen (SZSE: 300389), has been announced as one of China’s “Best Managed Companies” in the Deloitte Best Managed Companies Awards (BMC) Programme. The company demonstrated excellent business management and was recognized at the gala dinner of the inaugural Best Managed Companies awards in China on March 21, 2019.

About Deloitte:
Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is a multinational professional services network. Deloitte is one of the "Big Four" (Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers) accounting organizations and the largest professional services network in the world by revenue and number of professionals.

The BMC program is a global initiative to identify and recognize private companies with advanced management ideas and excellent business performance. Since its launch in Canada in 1993, the program has been introduced to many countries including Ireland, Netherlands, Belgium, Turkey, Mexico, Chile and more. China’s Best Managed Companies program was initiated in August 2018 by Deloitte China in cooperation with Bank of Singapore, the Business School of Hong Kong University of Science and Technology, Harvard Business Review and the Federation of Shenzhen Commerce.

Absen was named as one the 23 China’s Best Managed Companies, who were selected from over eighty candidates in different industries around the country for the first time. Companies including Skyworth, BBK Electronics, Mindray Medical International and New Oriental Education & Technology Group were also on the list.

Commenting on the award, CFO of Absen, Chelsea Huang said, “the Best Managed Companies Awards examines every facet of an organization and we are very proud that Absen fulfils all the requirements. This prestigious award is a fantastic recognition for the overall success of Absen based on the clear strategic direction and organizational structure, outstanding financial performance, strong risk management ability and inspiring corporate culture. This award will boost our confidence in continuing to improve our business management as well as our products and services”.

A judging panel consisting of 40+ experts from Deloitte and Bank of Singapore conducted a detailed qualification and judging process that evaluates the entire management team and business strategy at a broad range of criteria under the headings of strategy, capability, commitment and financial performance. Absen impressed the panel with “management excellence” and was recognized one of the best managed companies with "industry leadership, global thinking, long-term strategy, innovative development and people-oriented" after six months of rigorous reviews, interviews and specialist research.

With a reputation of providing high quality LED products and solutions to its global customers, the award-winning brand Absen, who is celebrating its 10 consecutive years of No. 1 in exporting LED panels, has been focused on LED display business for more than 18 years. The company boasts advanced manufacturing and a developed customer service network with 15 domestic and overseas companies worldwide and attaches great importance to innovation. In 2018, Absen achieved revenue of nearly 2 billion RMB, with a year-on-year growth of 29%. The company’s investment in R&D is 3% higher than other companies in the industry.

What especially separates it apart from other companies in the LED industry is that this company has extraordinary financial stability which enables it to be trusted by its global partners and customers like the Chinese Football Association Super League.

“By launching the first BMC program in China, Deloitte worked with partners in various sectors to nominate candidates, review candidates' information, organize Best Managed CEO Lab on-site review and mentorship, and arrange reviews by an Independent Review Committee. The final list of 23 of winners shows management excellence across different sectors.” says Zhao Jian, lead partner of the BMC Program.