2024-06-21
As a comprehensive index to measure enterprises' social influence and competitiveness, "brand value" has become their core competitiveness. On June 19, the 21st World Brand Summit sponsored by World Brand Lab was held in Beijing. The list of China's 500 Most Valuable Brands in 2024 was released at the Summit. In this annual report based on financial data, brand strength and consumer behavior analysis, Tongwei's brand value reached a new high of RMB 230.559 billion, ranking 42nd in the list and also 1st in the global aquaculture and PV sectors again.
World Brand Lab is one of the world's three prominent brand value evaluation authorities and its research results provide an important basis for assessing the intangible assets of enterprises across the world. With continuous rapid rises and refreshing records in its brand value, Tongwei has been rated as the Chinese brand with the highest degree of international credibility & recognition, authority and reference for 21 consecutive years, showing the world the great power of China's PV brands.
Award Ceremony
According to China's 500 Most Valuable Brands, the total brand value in 2024 is RMB 38.57 trillion, a YoY increase of RMB 4.24 trillion or 12.35%. Over the past 20 years, the world has witnessed the rapid growth of Chinese brands, some of which have had a strong global influence, including State Grid, Haier, Sinochem, China Resources, China Southern Power Grid, China Poly Group, HBIS Group, China Huadian, Wuliangye, Tongwei and Bosideng, said Dr. Steve Woolgar, Chairman of the Academic Committee of World Brand Lab and Emeritus Professor of Marketing at the University of Oxford.
Tongwei appears in the list of China's 500 Most Valuable Brands in 2024
Since the beginning of this year, Tongwei has strengthened brand leadership to cultivate and develop new quality productive forces. It has steadily promoted systematic, professional and characteristic brand building. Its brand value has reached a record high of RMB 230.559 billion, an increase of RMB 29.183 billion over last year. Tongwei ranks among the top three most valuable brands of Sichuan enterprises together with Wuliangye and Changhong Electric, maintaining the leading role of the highest brand value in the global aquaculture and PV sectors.
Tongwei ranks 42nd on the list
The year 2024 marks the 21st year for World Brand Lab to compile China's 500 Most Valuable Brands. In 2004, the threshold for inclusion in the list was only RMB 500 million, and the average value of the top 500 brands was RMB 4.943 billion. In 2024 after 21 years, the threshold for inclusion was raised to RMB 3.826 billion, while the average value of the top 500 brands was as high as RMB 77.140 billion, an increase of 1460.59%. Tongwei's brand value has increased by more than 100 times from RMB 1.9 billion in 2004 to RMB 230.559 billion this year, constantly refreshing historical records and becoming a typical case of the rise of Chinese brands.
Tongwei's brand value hit a new high of RMB 230.559 billion
China's glory bears witness to extraordinary strength. As a world-leading PV enterprise, Tongwei currently ranks first in the production and sales of high-purity crystalline silicon in the world, first in the shipment of high-efficiency cells for seven consecutive years, and top five in the global shipment of high-efficiency modules. It has become a key player and one of the main driving forces for the development of the global PV industry, continuously injecting strong momentum into the world. In 2023, Tongwei Group was listed in the Fortune Global 500, as the first of its kind in the global PV sector. Tongwei's brand building also entered a new stage of development. It has successively won honorary titles such as the World's 500 Most Influential Brands, Top 100 Global PV Brands, Global Top PV Brands, Top 500 Asia Brands, New Energy NO.1 of the Chinese Brand Annual Awards, Top 10 Green Energy Brands, Top 10 Influential Brands in China's Green Ecology, Outstanding Brand Image Award, Brand Excellence Enterprise, Most Valuable Company Award, and China's Most Influential Green Enterprise Brand.
Over the past 42 years, Tongwei has firmly established brand awareness of "quality-based enterprise, brand-backed enterprise". Its brand and growth history are intermingled and share the same origin. Tongwei's brand value has also undergone a complete evolution from small to large and from 1.0 to 5.0. Focusing on enhancing brand strategic leadership, professional operation, organizational control and support guarantee, it has facilitated brand building with high quality, enhanced brand value, and continuously improved the competitiveness and international influence of China's PV brands.
Moving forward, Tongwei will focus on telling Tongwei's story well based on the globalization development strategy, continuously make China's PV voice heard by the world, and highlight its brand development strength, making positive contributions to global energy transition and sustainable development.