Vincent Medical Entered Forbes Asia’s Best Under a Billion 2021

9th September 2021

Vincent Medical Holdings Limited (“Vincent Medical” or together with its subsidiaries, the “Group”, stock code: 1612), a global respiratory medical device and disposables supplier, is pleased to announce that the Group has been selected as part of the Forbes Asia’s Best Under a Billion 2021, which serves as a recognition for its expanding capability, business resilience, as well as growing recognition from the market.

Based on a variety of metrics, the list is compiled annually by Forbes Asia, from a universe of 20,000 publicly traded companies that has an annual revenue of over US$10 million and under US$1 billion in the Asia-Pacific region. The composite score incorporates each’s track record across a series of measures, such as debt, sales and earnings-per-share growth over the recent one-and-three-fiscal-year periods, as well as the average return on equity over the recent one-and-five-fiscal-year periods. Aside from quantitative comparison, qualitative screening was also adopted, as the list excludes companies with notable governance issues, questionable accounting practices, or environmental concerns and misbehaviors. State-owned companies and subsidiaries were also excluded in order to ensure geographical diversity of the eventual winners. The list is unranked, and specifically recognized 200 companies from the region.

The list for 2021 was released in September. It featured 64 companies from Mainland China, Hong Kong and Taiwan. Forbes Asia explained that despite operating under the global impact of COVID-19, the list of companies were able to demonstrate their business resilience, and successful adapt their strategic positioning in delivering sound financial performances. Being one of the very few Hong Kong based company admitted to the list, Vincent Medical was highlighted by Forbes Asia:

A Hong Kong-based respiratory device manufacturer that has doubled its revenue to US$149 million in 2020, as sales from its respiratory devices soared by 286% due to the pandemic. Last year, the Company was able to triple its production capacity, and double its workforce in two months time.

Mr. Vincent Choi, Chairman of Vincent Medical, says, “The Group is honored to be recognized by the internationally-renowned Forbes magazine for its business development and financial performances: The COVID-19 outbreak has no doubt posted unseen challenges to our operation, but it also gave us an opportunity to grow as a company. Through hard work of everyone at Vincent Medical, we were able to significantly raise our productivity, ensuring a steady supply of respiratory products to various countries. This window of opportunity not only deepens our business connections with partners from the healthcare sector, but also allows us to fulfill our corporate social responsibilities by contributing to the battle against the global pandemic. In the future, we will continue to devote ourselves to saving lives through the provision of innovative, high-quality and reliable medical devices.”

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